Author: Ravi Shankar

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Spire Healthcare Group plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:  For an opening position disclosure, state the latest practicable date prior to the disclosure	11/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?	NO

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	1p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:
(2) Cash-settled derivatives:	6,219,313	1.54
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	6,219,313	1.54

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
1p ordinary	Equity swap	Reducing a long position	30,673	2.4752 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	12/11/2026
Contact name:	Molly Childs
Telephone number:	+44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Sthree plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:  For an opening position disclosure, state the latest practicable date prior to the disclosure	11/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?	NO

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	1p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	7,207,744	5.94
(2) Cash-settled derivatives:	2,977,520	2.45	15,497	0.01
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	10,185,264	8.39	15,497	0.01

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
1p ordinary	Purchase	31,852	2.9946 GBP

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
1p ordinary	Equity Swap	Reducing a long position	4,813	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	6,203	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	6,202	2.9822 GBP
1p ordinary	Equity Swap	Reducing a long position	15,659	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	20,179	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	20,180	2.9822 GBP
1p ordinary	Equity Swap	Reducing a long position	79	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	102	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	102	2.9822 GBP
1p ordinary	Equity Swap	Reducing a long position	29,836	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	38,447	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	38,445	2.9822 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	12/11/2026
Contact name:	Molly Childs
Telephone number:	+44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Sthree plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:  For an opening position disclosure, state the latest practicable date prior to the disclosure	11/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?	NO

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	1p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	7,207,744	5.94
(2) Cash-settled derivatives:	2,977,520	2.45	15,497	0.01
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	10,185,264	8.39	15,497	0.01

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
1p ordinary	Purchase	31,852	2.9946 GBP

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
1p ordinary	Equity Swap	Reducing a long position	4,813	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	6,203	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	6,202	2.9822 GBP
1p ordinary	Equity Swap	Reducing a long position	15,659	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	20,179	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	20,180	2.9822 GBP
1p ordinary	Equity Swap	Reducing a long position	79	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	102	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	102	2.9822 GBP
1p ordinary	Equity Swap	Reducing a long position	29,836	2.9900 GBP
1p ordinary	Equity Swap	Reducing a long position	38,447	3.0075 GBP
1p ordinary	Equity Swap	Reducing a long position	38,445	2.9822 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	12/11/2026
Contact name:	Molly Childs
Telephone number:	+44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Vesuvius plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:  For an opening position disclosure, state the latest practicable date prior to the disclosure	11/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?	YES Offeror: RHI Magnestia N.V.

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	10p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	12,691,276	5.11
(2) Cash-settled derivatives:	12,648	0.00	117,411	0.04
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	12,703,924	5.11	117,411	0.04

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
10p ordinary	Sale	176,353	4.5844 GBP
10p ordinary	Sale	70	4.5900 GBP

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
10p ordinary	Equity Swap	Reducing a short position	500	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	22,300	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	30,000	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	1,500	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	2,800	4.5876 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	12/11/2026
Contact name:	Molly Childs
Telephone number:	+44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Vesuvius plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:  For an opening position disclosure, state the latest practicable date prior to the disclosure	11/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?	YES Offeror: RHI Magnestia N.V.

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	10p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	12,691,276	5.11
(2) Cash-settled derivatives:	12,648	0.00	117,411	0.04
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	12,703,924	5.11	117,411	0.04

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
10p ordinary	Sale	176,353	4.5844 GBP
10p ordinary	Sale	70	4.5900 GBP

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
10p ordinary	Equity Swap	Reducing a short position	500	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	22,300	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	30,000	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	1,500	4.5876 GBP
10p ordinary	Equity Swap	Reducing a short position	2,800	4.5876 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	12/11/2026
Contact name:	Molly Childs
Telephone number:	+44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

MESQUITE, Nev, Nov. 12, 2026 (GLOBE NEWSWIRE) — MESQUITE, Nev., November 12, 2026 (GLOBE NEWSWIRE) – Nuclear Diamond Batteries, Inc. (OTCID: NDBI) (“NDBI”), a developer of betavoltaic nuclear diamond battery technology, today announced that its majority-owned subsidiary, AtomiQ, Inc. (“AtomiQ”), has signed a Memorandum of Understanding (MOU) with Curio Legacy Ventures, Inc., doing business as Curio (“Curio”), a Washington, D.C.-based nuclear technology company developing its patented NuCycle® used nuclear fuel recycling process.

The MOU establishes a framework for the companies to explore technical collaboration and potential future supply of strontium-90 (Sr-90) and americium-241 (Am-241), two radioisotopes with potential applications in long-duration power technologies. Through its NuCycle® process, Curio is developing the capability to recover valuable materials, including radioisotopes, from used nuclear fuel, creating opportunities to establish new domestic supply chains for strategic nuclear materials.

The companies intend to evaluate how Curio’s isotope recovery capabilities could support AtomiQ’s development of diamond and carbon-based nuclear-voltaic power sources. The collaboration will initially focus on assessing technical feasibility, isotope characteristics, potential supply requirements, and the regulatory considerations associated with future commercial applications.

Key areas of potential collaboration include:

• Radioisotope supply: Exploring a potential domestic supply pathway for Sr-90 and Am-241 recovered through Curio’s NuCycle technology.
• Technical evaluation: Assessing isotope specifications, characterization requirements, and potential suitability for AtomiQ’s nuclear battery technologies.
• Regulatory coordination: Evaluating licensing, material handling, packaging, transportation, and end-of-life disposition requirements associated with potential future supply.
• Commercial opportunities: Identifying potential government, research, and commercial applications that could benefit from domestically sourced radioisotopes and long-duration nuclear power systems.

The MOU provides a preliminary framework for evaluating these opportunities. Any future isotope supply, technical work, material transfers, or commercial arrangements would be subject to separate agreements, successful technical validation, applicable regulatory authorizations, and facility readiness. The MOU does not establish committed purchases, supply volumes, delivery schedules, or a contract value.

“Reliable access to appropriately characterized radioisotopes is an important part of advancing our nuclear battery technology, and domestic sources of strontium-90 and americium-241 have historically been limited,” said Dr. Greg Rubin, Chief Executive Officer of AtomiQ, Inc. “This agreement gives us a structured path to qualify material, align technical requirements and plan supply as our development program progresses, and it addresses the full life cycle of the material, from delivery to take-back. We look forward to working with the Curio team.”

“Curio’s patented NuCycle technology is designed to transform used nuclear fuel into valuable resources, including critical radioisotopes that can support new industries and advanced technologies,” said Edward McGinnis, President and Chief Executive Officer of Curio. “Our collaboration with AtomiQ highlights the growing commercial opportunities for recovered isotopes and the importance of establishing a reliable domestic supply chain. As Curio advances toward commercialization, relationships like this demonstrate the potential for nuclear fuel recycling to strengthen American technological leadership, economic competitiveness, and national security.”

Market Opportunity: Long-Duration Power for Space, Defense, and Remote Systems

Nuclear battery technologies offer the potential to provide long-duration power in environments where conventional batteries are difficult or impractical to replace or recharge. Applications under development across the industry include space exploration, defense systems, remote sensing, subsea infrastructure, and industrial monitoring, where reliable power over extended periods can provide significant operational advantages.

Radioisotopes such as Sr-90 and Am-241 have potential applications in radioisotope power systems, subject to the technical requirements of specific power-conversion technologies. Access to reliable domestic isotope sources could help support future innovation in these fields while reducing dependence on constrained supply chains.

Curio’s NuCycle technology is designed to recover valuable materials from used nuclear fuel, including radioisotopes that could serve emerging commercial markets. By exploring potential collaboration with Curio, AtomiQ seeks to better understand future isotope availability, material qualification requirements, and opportunities to integrate recovered isotopes into its nuclear-voltaic technology development.

The collaboration is non-exclusive, and both companies remain free to pursue other research, commercial, and strategic opportunities. Any future supply or development arrangements will be established through separate agreements.

About Nuclear Diamond Batteries, Inc.

Nuclear Diamond Batteries, Inc. (OTCID: NDBI) is a Mesquite, Nevada-based, patent-led, pre-commercial company developing nuclear diamond battery technology through its majority-owned subsidiary, AtomiQ, Inc. AtomiQ’s nuclear-voltaic platform is designed to convert the energy of radioisotope decay directly into electricity within engineered carbon and semiconductor structures, with the objective of delivering maintenance-free power for years to decades in applications where batteries cannot be replaced or recharged.

AtomiQ’s intellectual property portfolio includes two issued U.S. patents, U.S. Patent No. 12,394,534 (nuclear-voltaic power-source architecture) and U.S. Patent No. 12,759,882 (carbon nano-onion nanomaterial synthesis), and a third U.S. application with a Notice of Allowance covering its metal-organic-framework electrode structure, together with related know-how and continuation filings.

Target applications include aerospace and space systems, defense, industrial and infrastructure monitoring, remote sensing, implantable and other medical devices, and connected devices. NDBI and AtomiQ are not affiliated with NDB, Inc.

For more information, visit www.nucleardiamondbatteriesinc.com.

follow us on X.com            https://x.com/NDBI_stock

info@nucleardiamondbatteriesinc.com

About Curio

Curio stands at the forefront of nuclear technology innovation, pioneering advanced solutions in used nuclear fuel recycling and waste management to usher in the 2nd Nuclear Era®. Through its patented NuCycle® technology, Curio is developing one of the most efficient and environmentally conscious nuclear waste recycling solutions, designed to recover valuable materials from used nuclear fuel while reducing the volume of waste requiring permanent disposal by up to 97%. By maximizing resource recovery, minimizing environmental impact, and transforming nuclear waste into valuable resources, Curio is redefining the future of sustainable nuclear energy. Curio has achieved lab-scale validation and is working across six U.S. Department of Energy national laboratories, secured millions in competitive federal grants, and partnered with Utilities Service Alliance (USA) to explore collaboration and supplier-partner opportunities involving its 18 operating U.S. member reactors. Curio’s NuCycle® technology was also recognized as a winner of Fast Company’s 2026 World Changing Ideas Awards.

For more information, visit www.curio.energy.

Forward-Looking Statements

This release contains forward-looking statements concerning potential technical collaboration, future isotope supply, material qualification, regulatory authorizations, nuclear battery development, commercialization opportunities, and anticipated market applications. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.

The MOU establishes a preliminary framework for exploring potential collaboration and does not obligate either company to undertake technical development, supply or purchase radioisotopes, transfer materials, commit funding, or enter into any future commercial arrangement. Future activities would require additional agreements and may depend on successful technical validation, facility development, applicable regulatory authorizations, financing, material availability, and other commercial and technical considerations.

There can be no assurance that the contemplated collaboration will result in commercial isotope supply, successful device development, regulatory approvals, or commercial production. Additional risks are described in NDBI’s disclosure documents available through OTC Markets, including its most recent annual report. Forward-looking statements speak only as of the date of this release, and NDBI undertakes no obligation to update them except as required by law.

Investor and Media Contact

Nuclear Diamond Batteries, Inc.

info@nucleardiamondbatteriesinc.com

Curio

press@curio.energy 

MESQUITE, Nev, Nov. 12, 2026 (GLOBE NEWSWIRE) — MESQUITE, Nev., November 12, 2026 (GLOBE NEWSWIRE) – Nuclear Diamond Batteries, Inc. (OTCID: NDBI) (“NDBI”), a developer of betavoltaic nuclear diamond battery technology, today announced that its majority-owned subsidiary, AtomiQ, Inc. (“AtomiQ”), has signed a Memorandum of Understanding (MOU) with Curio Legacy Ventures, Inc., doing business as Curio (“Curio”), a Washington, D.C.-based nuclear technology company developing its patented NuCycle® used nuclear fuel recycling process.

The MOU establishes a framework for the companies to explore technical collaboration and potential future supply of strontium-90 (Sr-90) and americium-241 (Am-241), two radioisotopes with potential applications in long-duration power technologies. Through its NuCycle® process, Curio is developing the capability to recover valuable materials, including radioisotopes, from used nuclear fuel, creating opportunities to establish new domestic supply chains for strategic nuclear materials.

The companies intend to evaluate how Curio’s isotope recovery capabilities could support AtomiQ’s development of diamond and carbon-based nuclear-voltaic power sources. The collaboration will initially focus on assessing technical feasibility, isotope characteristics, potential supply requirements, and the regulatory considerations associated with future commercial applications.

Key areas of potential collaboration include:

• Radioisotope supply: Exploring a potential domestic supply pathway for Sr-90 and Am-241 recovered through Curio’s NuCycle technology.
• Technical evaluation: Assessing isotope specifications, characterization requirements, and potential suitability for AtomiQ’s nuclear battery technologies.
• Regulatory coordination: Evaluating licensing, material handling, packaging, transportation, and end-of-life disposition requirements associated with potential future supply.
• Commercial opportunities: Identifying potential government, research, and commercial applications that could benefit from domestically sourced radioisotopes and long-duration nuclear power systems.

The MOU provides a preliminary framework for evaluating these opportunities. Any future isotope supply, technical work, material transfers, or commercial arrangements would be subject to separate agreements, successful technical validation, applicable regulatory authorizations, and facility readiness. The MOU does not establish committed purchases, supply volumes, delivery schedules, or a contract value.

“Reliable access to appropriately characterized radioisotopes is an important part of advancing our nuclear battery technology, and domestic sources of strontium-90 and americium-241 have historically been limited,” said Dr. Greg Rubin, Chief Executive Officer of AtomiQ, Inc. “This agreement gives us a structured path to qualify material, align technical requirements and plan supply as our development program progresses, and it addresses the full life cycle of the material, from delivery to take-back. We look forward to working with the Curio team.”

“Curio’s patented NuCycle technology is designed to transform used nuclear fuel into valuable resources, including critical radioisotopes that can support new industries and advanced technologies,” said Edward McGinnis, President and Chief Executive Officer of Curio. “Our collaboration with AtomiQ highlights the growing commercial opportunities for recovered isotopes and the importance of establishing a reliable domestic supply chain. As Curio advances toward commercialization, relationships like this demonstrate the potential for nuclear fuel recycling to strengthen American technological leadership, economic competitiveness, and national security.”

Market Opportunity: Long-Duration Power for Space, Defense, and Remote Systems

Nuclear battery technologies offer the potential to provide long-duration power in environments where conventional batteries are difficult or impractical to replace or recharge. Applications under development across the industry include space exploration, defense systems, remote sensing, subsea infrastructure, and industrial monitoring, where reliable power over extended periods can provide significant operational advantages.

Radioisotopes such as Sr-90 and Am-241 have potential applications in radioisotope power systems, subject to the technical requirements of specific power-conversion technologies. Access to reliable domestic isotope sources could help support future innovation in these fields while reducing dependence on constrained supply chains.

Curio’s NuCycle technology is designed to recover valuable materials from used nuclear fuel, including radioisotopes that could serve emerging commercial markets. By exploring potential collaboration with Curio, AtomiQ seeks to better understand future isotope availability, material qualification requirements, and opportunities to integrate recovered isotopes into its nuclear-voltaic technology development.

The collaboration is non-exclusive, and both companies remain free to pursue other research, commercial, and strategic opportunities. Any future supply or development arrangements will be established through separate agreements.

About Nuclear Diamond Batteries, Inc.

Nuclear Diamond Batteries, Inc. (OTCID: NDBI) is a Mesquite, Nevada-based, patent-led, pre-commercial company developing nuclear diamond battery technology through its majority-owned subsidiary, AtomiQ, Inc. AtomiQ’s nuclear-voltaic platform is designed to convert the energy of radioisotope decay directly into electricity within engineered carbon and semiconductor structures, with the objective of delivering maintenance-free power for years to decades in applications where batteries cannot be replaced or recharged.

AtomiQ’s intellectual property portfolio includes two issued U.S. patents, U.S. Patent No. 12,394,534 (nuclear-voltaic power-source architecture) and U.S. Patent No. 12,759,882 (carbon nano-onion nanomaterial synthesis), and a third U.S. application with a Notice of Allowance covering its metal-organic-framework electrode structure, together with related know-how and continuation filings.

Target applications include aerospace and space systems, defense, industrial and infrastructure monitoring, remote sensing, implantable and other medical devices, and connected devices. NDBI and AtomiQ are not affiliated with NDB, Inc.

For more information, visit www.nucleardiamondbatteriesinc.com.

follow us on X.com            https://x.com/NDBI_stock

info@nucleardiamondbatteriesinc.com

About Curio

Curio stands at the forefront of nuclear technology innovation, pioneering advanced solutions in used nuclear fuel recycling and waste management to usher in the 2nd Nuclear Era®. Through its patented NuCycle® technology, Curio is developing one of the most efficient and environmentally conscious nuclear waste recycling solutions, designed to recover valuable materials from used nuclear fuel while reducing the volume of waste requiring permanent disposal by up to 97%. By maximizing resource recovery, minimizing environmental impact, and transforming nuclear waste into valuable resources, Curio is redefining the future of sustainable nuclear energy. Curio has achieved lab-scale validation and is working across six U.S. Department of Energy national laboratories, secured millions in competitive federal grants, and partnered with Utilities Service Alliance (USA) to explore collaboration and supplier-partner opportunities involving its 18 operating U.S. member reactors. Curio’s NuCycle® technology was also recognized as a winner of Fast Company’s 2026 World Changing Ideas Awards.

For more information, visit www.curio.energy.

Forward-Looking Statements

This release contains forward-looking statements concerning potential technical collaboration, future isotope supply, material qualification, regulatory authorizations, nuclear battery development, commercialization opportunities, and anticipated market applications. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.

The MOU establishes a preliminary framework for exploring potential collaboration and does not obligate either company to undertake technical development, supply or purchase radioisotopes, transfer materials, commit funding, or enter into any future commercial arrangement. Future activities would require additional agreements and may depend on successful technical validation, facility development, applicable regulatory authorizations, financing, material availability, and other commercial and technical considerations.

There can be no assurance that the contemplated collaboration will result in commercial isotope supply, successful device development, regulatory approvals, or commercial production. Additional risks are described in NDBI’s disclosure documents available through OTC Markets, including its most recent annual report. Forward-looking statements speak only as of the date of this release, and NDBI undertakes no obligation to update them except as required by law.

Investor and Media Contact

Nuclear Diamond Batteries, Inc.

info@nucleardiamondbatteriesinc.com

Curio

press@curio.energy 

~ Third Quarter 2026 Net Product Sales of $19.4 Million, Up 56% Year over Year ~

~ Third Quarter 2026 Non-GAAP Adjusted EBITDA of $5.8 Million ~

~ With $6.7 Million in Positive Cash Flow from Operations, Cash Position in the Third Quarter 2026 Grew to $48.7 Million ~

~ Record Number of Patients and Planned Infusions Carried into the Fourth Quarter 2026 ~

~ Management to Host Conference Call Today at 8:30 a.m. ET ~

RESEARCH TRIANGLE PARK, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) — Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company, today reported its financial results for the third quarter ended September 30, 2026 and provided a business update.

“Given the significant increase in demand that we are seeing quarter over quarter in 2026, we firmly believe in the sustainable growth potential of PEDMARK^®. We are driving this forward through strong commercial execution, investment in evidence generation to support its use, and operational enhancements that will continue to improve the overall patient and healthcare professional experience,” said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. “Additionally, with net revenue, adjusted EBITDA, and our cash position reaching record highs this quarter, we will continue to be disciplined in our capital deployment as we move through the fourth quarter and look ahead to 2027.”

Business Highlights:

• Continued Commercial Momentum Within Key PEDMARK^® Accounts: The second full quarter following the significant expansion of our commercial organization contributed to another sequential quarter of demand growth, with total program enrollments up 23% and completed infusions up 58% over the second quarter of 2026. As the field team is now operating with greater reach and frequency to engage healthcare providers, Fennec expects that the productivity curve will continue to increase through the fourth quarter of 2026 and into 2027.
• 58^th Annual International Society of Pediatric Oncology (SIOP) Annual Meeting: Detailed results from the investigator-initiated Phase 2 STS-J01 clinical trial evaluating PEDMARK^® for the reduction of cisplatin-induced ototoxicity in pediatric and adolescent and young adult (AYA) patients with non-metastatic solid tumors in Japan were featured in an oral presentation at SIOP 2026. These data demonstrated significant hearing protection and provide reassuring clinical context regarding antitumor activity with delayed PEDMARK^® administration. Full results from the study will be submitted for peer-reviewed publication.

Upcoming Events:

• 17th Annual Craig-Hallum Alpha Select Conference: The management team will host one-on-one investor meetings at the 17th Annual Craig-Hallum Alpha Select Conference, which will be held on Tuesday, November 17, 2026 at the Sheraton New York Times Square Hotel in New York City.
• Piper Sandler 38th Annual Healthcare Conference: The management team will participate in a fireside chat on Thursday, December 3, 10:30 – 10:55 a.m. ET, at the conference and will host one-on-one investor meetings, which will be held at the Lotte New York Palace and will be available via webcast.

Financial Results for the Third Quarter Ended September 30, 2026:

• Net Product Sales – For the third quarter of 2026, the Company recorded net product sales of approximately $19.4 million compared to $12.5 million in the third quarter of 2025. The increase in sales is attributable to growth across PEDMARK^® accounts including new accounts in the AYA population.
• Selling and Marketing Expenses – The Company recorded $10.1 million in selling and marketing expenses in the third quarter of 2026 compared to $6.5 million in the third quarter of 2025. The increase is largely related to the higher costs associated with the commercialization and increased awareness initiatives of PEDMARK^® and related expenses to support the expansion of our sales organization.
• General and Administrative (G&A) Expenses – The Company recorded $3.9 million in general and administrative expenses in the third quarter of 2026 compared to $5.4 million in the third quarter of 2025. The decrease in general and administrative expenses for the three-month comparable periods due to lower legal and professional fees as select litigation activities concluded.

• Non-GAAP Adjusted EBITDA – The Company recorded $5.8 million in non-GAAP adjusted EBITDA in the third quarter of 2026 compared to non-GAAP adjusted EBITDA of $2.0 million for the same period in the prior year. A table reconciling non-GAAP measures is included in this press release for reference.
• Cash Position – Cash and cash equivalents were $48.7 million as of September 30, 2026 compared to $41.2 million as of June 30 2026. We anticipate that our cash, cash equivalents and investment securities as of September 30, 2026, combined with the projected revenues from PEDMARK^®, will be sufficient to fund our business based on our current operating plan.

Third Quarter 2026 Conference Call Information

Date: Thursday, November 12, 2026
Time: 8:30 a.m. Eastern Time
Webcast Link: https://edge.media-server.com/mmc/p/vuhn59ek
Participant Link: https://register-conf.media-server.com/register/BIa5435e66b82346329a08be7e156e3eac

Financial Update

The selected financial data presented below is derived from our unaudited condensed consolidated financial statements, which were prepared in accordance with U.S. generally accepted accounting principles. The complete unaudited condensed consolidated financial statements for the period ended September 30, 2026, and management’s discussion and analysis of financial condition and results of operations will be available via www.sec.gov and www.sedar.com. All values are presented in thousands unless otherwise noted.

Unaudited Condensed Consolidated Statements of Operations (U.S. Dollars in thousands except share and per share amounts)
	Three Months Ended								Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2026				2025				2026				2025
Revenue
PEDMARK product sales, net	$	19,425			$	12,462			$	51,697			$	30,865
Other revenue		183				—				893				—
Total revenue		19,608				12,462				52,590				30,865
Operating expenses:
Cost of product sales		838				660				2,129				2,000
Research and development		154				29				321				230
Selling and marketing		10,050				6,513				32,131				12,510
General and administrative		3,912				5,449				11,737				19,853
Total operating expenses		(14,954	)			(12,651	)			(46,318	)			(34,593	)
Income/(loss) from operations		4,654				(189	)			6,272				(3,728	)
Other (expense)/income
Unrealized foreign exchange (loss)/gain		—				(3	)			(18	)			27
Amortization expense		—				(12	)			—				(38	)
Interest income		319				152				945				559
Interest expense		(1	)			(586	)			(11	)			(1,772	)
Total other income/(expense)		318				(449	)			916				(1,226	)
Income/(loss) before provision for income taxes		4,972				(638	)			7,188				(4,954	)
Provision for income taxes		332				—				374				—
Net income/(loss)	$	4,640			$	(638	)		$	6,814			$	(4,954	)
Basic net income/(loss) per common share	$	0.13			$	(0.02	)		$	0.20			$	(0.18	)
Diluted net income/(loss) per common share	$	0.12			$	(0.02	)		$	0.19			$	(0.18	)
Weighted-average number of common shares outstanding basic		35,112				27,889				34,772				27,711
Weighted-average number of common shares outstanding diluted		38,076				27,889				36,679				27,711

Fennec Pharmaceuticals Inc. Unaudited Condensed Consolidated Balance Sheets (U.S. Dollars and shares in thousands)
		September 30,				December 31,
		2026				2025
Assets
Current assets
Cash and cash equivalents		$	48,684			$	36,788
Accounts receivable, net			23,786				23,221
Prepaid expenses			4,948				3,738
Inventory			2,117				1,565
Other current assets			1,416				1,731
Total current assets			80,951				67,043
Non-current assets
Non-current accounts receivable, net			1,952				2,791
Other non-current assets, net of amortization			640				717
Total non-current assets			2,592				3,508
Total assets		$	83,543			$	70,551
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	4,607			$	4,635
Accrued liabilities			5,830				5,635
Contract liability-current			2,807				248
Total current liabilities			13,244				10,518
Long-term liabilities
Contract liability – long-term			21,109				24,561
Total long-term liabilities			21,109				24,561
Total liabilities			34,353				35,079
Commitments and contingencies
Stockholders’ equity:
Common stock, no par value; unlimited shares authorized; 35,215 shares issued and outstanding (2025 ‑34,163)			194,093				189,906
Additional paid-in capital			76,462				73,745
Accumulated deficit			(222,608	)			(229,422	)
Accumulated other comprehensive income			1,243				1,243
Total stockholders’ equity			49,190				35,472
Total liabilities and stockholders’ equity		$	83,543			$	70,551

Reconciliation of Net Income/(Loss) to Adjusted EBITDA (Non-GAAP) (U.S. Dollars in thousands)
	Three Months Ended								Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2026				2025				2026				2025
Net income/(loss)	$	4,640			$	(638	)		$	6,814			$	(4,954	)
Interest income		(319	)			(152	)			(945	)			(559	)
Interest expense		1				586				11				1,772
Provision for income taxes		332				–				374				–
Depreciation and amortization		–				12				–				38
Other revenue (a)		(183	)			–				(893	)			–
Share based compensation expense (b)		1,355				2,219				4,119				4,511
Unrealized loss on securities		–				–				–				2
Unrealized foreign exchange gain/(loss)		–				3				18				(27	)
Adjusted EBITDA	$	5,826			$	2,030			$	9,498			$	783

(a) Represents the portion of GAAP revenue related to “material rights” under the Company’s PEDMARK^® license with Norgine that is non-cash in the current period and was previously recorded as deferred licensing revenue. Under ASC 606, a portion of the upfront consideration received under this agreement was allocated to a material right and recorded as deferred revenue (contract liability), which is subsequently recognized as revenue as PEDMARK^® units are shipped to Norgine and the related material right is satisfied. These amounts are included in GAAP revenue in the periods presented, and the Company continues to apply GAAP recognition and measurement for all revenue, including this component. The adjustment is intended solely to remove this non-cash amortization of previously deferred licensing revenue from Adjusted EBITDA, as management believes excluding this item provides a more comparable view of period-over-period cash operating performance from the Company’s commercial activities.

(b) Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods.

About Cisplatin-Induced Ototoxicity
Cisplatin and other platinum-based chemotherapies are widely used to treat solid tumors and have been vital in improving survival rates. Unfortunately, these life-saving treatments often result in permanent, irreversible hearing loss, also known as ototoxicity.¹

Hearing loss from cisplatin treatment is not rare. Studies show that between 60-90% of patients treated with cisplatin may develop hearing loss, depending upon the dose and duration of chemotherapy.² Many of those treated with cisplatin will require lifelong hearing aids or cochlear implants, which can be helpful for some, but do not reverse the hearing loss and can be costly over time.³ Treatment-induced hearing loss can reduce quality of survivorship as it impacts many aspects of life, such as speech and language skills, academic performance, social-emotional development, career potential and the ability to live independently.^4,5 While audiologic monitoring is recommended to help manage ototoxicity, it is currently underutilized in certain cancer patient populations.

PEDMARK^® (sodium thiosulfate injection)

PEDMARK^® is the first and only U.S. Food and Drug Administration (FDA) approved therapy indicated to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients 1 month of age and older with localized, non-metastatic, solid tumors. It is a unique formulation of sodium thiosulfate in single-dose, ready-to-use vials for intravenous use in pediatric patients. PEDMARK is also the first and only therapeutic agent with proven efficacy and safety data with an established dosing regimen, across two open-label, randomized Phase 3 clinical studies, the Children’s Oncology Group (COG) Protocol ACCL0431 and SIOPEL 6.

Additionally, PEDMARK^® is recommended for the adolescent and young adult (AYA) population by the National Comprehensive Cancer Network, or NCCN, with a 2A endorsement.

Approximately 500,000 patients in the U.S. are diagnosed annually with cancers that could be treated with a platinum-based chemotherapy.^6,7 The incidence of ototoxicity depends upon the dose and duration of chemotherapy, and many of those treated will require lifelong hearing aids. Until the FDA approval of PEDMARK, there were no preventative agents for this hearing loss. Patients with hearing loss resulting from cancer treatment have a statistically significant worse quality of life compared with peers who have no hearing loss.^8,9

PEDMARK has been studied by co-operative groups in two Phase 3 clinical studies of survival and reduction of ototoxicity, COG ACCL0431 and SIOPEL 6. Both studies have been completed. The COG ACCL0431 protocol enrolled childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including newly diagnosed hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma, medulloblastoma, and other solid tumors. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors.

Indications and Usage
PEDMARK^® (sodium thiosulfate injection) is indicated to reduce the risk of ototoxicity associated with cisplatin in pediatric patients 1 month of age and older with localized, non-metastatic solid tumors.

Limitations of Use
The safety and efficacy of PEDMARK have not been established when administered following cisplatin infusions longer than 6 hours. PEDMARK may not reduce the risk of ototoxicity when administered following longer cisplatin infusions, because irreversible ototoxicity may have already occurred.

Important Safety Information
PEDMARK is contraindicated in patients with history of a severe hypersensitivity to sodium thiosulfate or any of its components.

Hypersensitivity reactions occurred in 8% to 13% of patients in clinical trials. Monitor patients for hypersensitivity reactions. Immediately discontinue PEDMARK and institute appropriate care if a hypersensitivity reaction occurs. Administer antihistamines or glucocorticoids (if appropriate) before each subsequent administration of PEDMARK. PEDMARK may contain sodium sulfite; patients with sulfite sensitivity may have hypersensitivity reactions, including anaphylactic symptoms and life-threatening or severe asthma episodes. Sulfite sensitivity is seen more frequently in people with asthma.

PEDMARK is not indicated for use in pediatric patients less than 1 month of age due to the increased risk of hypernatremia or in pediatric patients with metastatic cancers.

Hypernatremia occurred in 12% to 26% of patients in clinical trials, including a single Grade 3 case. Hypokalemia occurred in 15% to 27% of patients in clinical trials, with Grade 3 or 4 occurring in 9% to 27% of patients. Monitor serum sodium and potassium levels at baseline and as clinically indicated. Withhold PEDMARK in patients with baseline serum sodium greater than 145 mmol/L.

Monitor for signs and symptoms of hypernatremia and hypokalemia more closely if the glomerular filtration rate (GFR) falls below 60 mL/min/1.73m².

Administer antiemetics prior to each PEDMARK administration. Provide additional antiemetics and supportive care as appropriate.

The most common adverse reactions (≥25% with difference between arms of >5% compared to cisplatin alone) in SIOPEL 6 were vomiting, nausea, decreased hemoglobin, and hypernatremia. The most common adverse reaction (≥25% with difference between arms of >5% compared to cisplatin alone) in COG ACCL0431 was hypokalemia.

Please see full Prescribing Information for PEDMARK^® at: www.PEDMARK.com.

About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK^® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI^®.

In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize PEDMARQSI^® in Europe, U.K., Australia and New Zealand. PEDMARQSI is now commercially available in multiple countries.

PEDMARK has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK until 2039 in both the U.S. and internationally.

For more information, please visit www.fennecpharma.com and follow on LinkedIn.

Forward Looking Statements
Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include statements about our business strategy, timeline and other goals, plans and prospects, including our commercialization plans respecting PEDMARK^®/PEDMARQSI^®, the market opportunity for and market impact of PEDMARK^®/ PEDMARQSI^®, its potential impact on patients and anticipated benefits associated with its use, future commercial and regulatory milestone and royalty payments from Norgine, and potential access to further funding after the date of this release. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, our ability to obtain necessary capital when needed on acceptable terms or at all, the Company may not meet its future capital requirements in different countries and municipalities, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2025. Fennec disclaims any obligation to update these forward-looking statements except as required by law.

For a more detailed discussion of related risk factors, please refer to our public filings available at www.sec.gov and www.sedar.com.

PEDMARK^® PEDMARQSI^® and Fennec^® are registered trademarks of Fennec Pharmaceuticals Inc.

©2026 Fennec Pharmaceuticals Inc. All rights reserved.

For further information, please contact:

Investors:
Robert Andrade
Chief Financial Officer
Fennec Pharmaceuticals Inc.
+1 919-246-5299

Corporate and Media:
Lindsay Rocco
Elixir Health Public Relations
+1 862-596-1304
lrocco@elixirhealthpr.com

_______________
¹ Sheth S et al. Mechanisms of Cisplatin Ototoxicity and Progress in Otoprotection. Frontiers in Cellular Neuroscience. 2017, Vol. 11.
² Langer T, am Zehnhoff-Dinnesen A, Radtke S, Meitert J, Zolk O. Understanding platinum-induced ototoxicity. Trends Pharmacol Sci. 2013;34(8):458-469
³ Landier W. Ototoxicity and Cancer Therapy. Cancer. June 2016 Vol. 122, No.11: 1647-1658.
⁴ Clemens E, van den Heuvel-Eibrink MM, Mulder RL, et al. Recommendations for ototoxicity surveillance for childhood, adolescent, and young adult cancer survivors: a report from the International Late Effects of Childhood Cancer Guideline Harmonization Group in collaboration with the PanCare Consortium. Lancet Oncol. 2019;20(1):e29-e41
⁵ Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.
⁶ Chattaraj A et al. Cisplatin-Induced Ototoxicity: A Concise Review of the Burden, Prevention, and Interception Strategies. JCO Oncol Pract. 2023;19
⁷ Freyer DR et al. Effects of sodium thiosulfate versus observation on development of cisplatin-induced hearing loss in children with cancer (ACCL0431): a multicentre, randomised, controlled, open-label, phase 3 trial. Lancet Oncol. 2017;18(1):63-74.
⁸ Rajput K, Edwards L, Brock P, Abiodun A, Simpkin P, Al-Malky G. Ototoxicity-induced hearing loss and quality of life in survivors of paediatric cancer. Int J Pediatr Otorhinolaryngol. 2020;138:110401. doi:10.1016/j.ijporl.2020.110401
⁹ Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.

~ Third Quarter 2026 Net Product Sales of $19.4 Million, Up 56% Year over Year ~

~ Third Quarter 2026 Non-GAAP Adjusted EBITDA of $5.8 Million ~

~ With $6.7 Million in Positive Cash Flow from Operations, Cash Position in the Third Quarter 2026 Grew to $48.7 Million ~

~ Record Number of Patients and Planned Infusions Carried into the Fourth Quarter 2026 ~

~ Management to Host Conference Call Today at 8:30 a.m. ET ~

RESEARCH TRIANGLE PARK, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) — Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company, today reported its financial results for the third quarter ended September 30, 2026 and provided a business update.

“Given the significant increase in demand that we are seeing quarter over quarter in 2026, we firmly believe in the sustainable growth potential of PEDMARK^®. We are driving this forward through strong commercial execution, investment in evidence generation to support its use, and operational enhancements that will continue to improve the overall patient and healthcare professional experience,” said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. “Additionally, with net revenue, adjusted EBITDA, and our cash position reaching record highs this quarter, we will continue to be disciplined in our capital deployment as we move through the fourth quarter and look ahead to 2027.”

Business Highlights:

• Continued Commercial Momentum Within Key PEDMARK^® Accounts: The second full quarter following the significant expansion of our commercial organization contributed to another sequential quarter of demand growth, with total program enrollments up 23% and completed infusions up 58% over the second quarter of 2026. As the field team is now operating with greater reach and frequency to engage healthcare providers, Fennec expects that the productivity curve will continue to increase through the fourth quarter of 2026 and into 2027.
• 58^th Annual International Society of Pediatric Oncology (SIOP) Annual Meeting: Detailed results from the investigator-initiated Phase 2 STS-J01 clinical trial evaluating PEDMARK^® for the reduction of cisplatin-induced ototoxicity in pediatric and adolescent and young adult (AYA) patients with non-metastatic solid tumors in Japan were featured in an oral presentation at SIOP 2026. These data demonstrated significant hearing protection and provide reassuring clinical context regarding antitumor activity with delayed PEDMARK^® administration. Full results from the study will be submitted for peer-reviewed publication.

Upcoming Events:

• 17th Annual Craig-Hallum Alpha Select Conference: The management team will host one-on-one investor meetings at the 17th Annual Craig-Hallum Alpha Select Conference, which will be held on Tuesday, November 17, 2026 at the Sheraton New York Times Square Hotel in New York City.
• Piper Sandler 38th Annual Healthcare Conference: The management team will participate in a fireside chat on Thursday, December 3, 10:30 – 10:55 a.m. ET, at the conference and will host one-on-one investor meetings, which will be held at the Lotte New York Palace and will be available via webcast.

Financial Results for the Third Quarter Ended September 30, 2026:

• Net Product Sales – For the third quarter of 2026, the Company recorded net product sales of approximately $19.4 million compared to $12.5 million in the third quarter of 2025. The increase in sales is attributable to growth across PEDMARK^® accounts including new accounts in the AYA population.
• Selling and Marketing Expenses – The Company recorded $10.1 million in selling and marketing expenses in the third quarter of 2026 compared to $6.5 million in the third quarter of 2025. The increase is largely related to the higher costs associated with the commercialization and increased awareness initiatives of PEDMARK^® and related expenses to support the expansion of our sales organization.
• General and Administrative (G&A) Expenses – The Company recorded $3.9 million in general and administrative expenses in the third quarter of 2026 compared to $5.4 million in the third quarter of 2025. The decrease in general and administrative expenses for the three-month comparable periods due to lower legal and professional fees as select litigation activities concluded.

• Non-GAAP Adjusted EBITDA – The Company recorded $5.8 million in non-GAAP adjusted EBITDA in the third quarter of 2026 compared to non-GAAP adjusted EBITDA of $2.0 million for the same period in the prior year. A table reconciling non-GAAP measures is included in this press release for reference.
• Cash Position – Cash and cash equivalents were $48.7 million as of September 30, 2026 compared to $41.2 million as of June 30 2026. We anticipate that our cash, cash equivalents and investment securities as of September 30, 2026, combined with the projected revenues from PEDMARK^®, will be sufficient to fund our business based on our current operating plan.

Third Quarter 2026 Conference Call Information

Date: Thursday, November 12, 2026
Time: 8:30 a.m. Eastern Time
Webcast Link: https://edge.media-server.com/mmc/p/vuhn59ek
Participant Link: https://register-conf.media-server.com/register/BIa5435e66b82346329a08be7e156e3eac

Financial Update

The selected financial data presented below is derived from our unaudited condensed consolidated financial statements, which were prepared in accordance with U.S. generally accepted accounting principles. The complete unaudited condensed consolidated financial statements for the period ended September 30, 2026, and management’s discussion and analysis of financial condition and results of operations will be available via www.sec.gov and www.sedar.com. All values are presented in thousands unless otherwise noted.

Unaudited Condensed Consolidated Statements of Operations (U.S. Dollars in thousands except share and per share amounts)
	Three Months Ended								Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2026				2025				2026				2025
Revenue
PEDMARK product sales, net	$	19,425			$	12,462			$	51,697			$	30,865
Other revenue		183				—				893				—
Total revenue		19,608				12,462				52,590				30,865
Operating expenses:
Cost of product sales		838				660				2,129				2,000
Research and development		154				29				321				230
Selling and marketing		10,050				6,513				32,131				12,510
General and administrative		3,912				5,449				11,737				19,853
Total operating expenses		(14,954	)			(12,651	)			(46,318	)			(34,593	)
Income/(loss) from operations		4,654				(189	)			6,272				(3,728	)
Other (expense)/income
Unrealized foreign exchange (loss)/gain		—				(3	)			(18	)			27
Amortization expense		—				(12	)			—				(38	)
Interest income		319				152				945				559
Interest expense		(1	)			(586	)			(11	)			(1,772	)
Total other income/(expense)		318				(449	)			916				(1,226	)
Income/(loss) before provision for income taxes		4,972				(638	)			7,188				(4,954	)
Provision for income taxes		332				—				374				—
Net income/(loss)	$	4,640			$	(638	)		$	6,814			$	(4,954	)
Basic net income/(loss) per common share	$	0.13			$	(0.02	)		$	0.20			$	(0.18	)
Diluted net income/(loss) per common share	$	0.12			$	(0.02	)		$	0.19			$	(0.18	)
Weighted-average number of common shares outstanding basic		35,112				27,889				34,772				27,711
Weighted-average number of common shares outstanding diluted		38,076				27,889				36,679				27,711

Fennec Pharmaceuticals Inc. Unaudited Condensed Consolidated Balance Sheets (U.S. Dollars and shares in thousands)
		September 30,				December 31,
		2026				2025
Assets
Current assets
Cash and cash equivalents		$	48,684			$	36,788
Accounts receivable, net			23,786				23,221
Prepaid expenses			4,948				3,738
Inventory			2,117				1,565
Other current assets			1,416				1,731
Total current assets			80,951				67,043
Non-current assets
Non-current accounts receivable, net			1,952				2,791
Other non-current assets, net of amortization			640				717
Total non-current assets			2,592				3,508
Total assets		$	83,543			$	70,551
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	4,607			$	4,635
Accrued liabilities			5,830				5,635
Contract liability-current			2,807				248
Total current liabilities			13,244				10,518
Long-term liabilities
Contract liability – long-term			21,109				24,561
Total long-term liabilities			21,109				24,561
Total liabilities			34,353				35,079
Commitments and contingencies
Stockholders’ equity:
Common stock, no par value; unlimited shares authorized; 35,215 shares issued and outstanding (2025 ‑34,163)			194,093				189,906
Additional paid-in capital			76,462				73,745
Accumulated deficit			(222,608	)			(229,422	)
Accumulated other comprehensive income			1,243				1,243
Total stockholders’ equity			49,190				35,472
Total liabilities and stockholders’ equity		$	83,543			$	70,551

Reconciliation of Net Income/(Loss) to Adjusted EBITDA (Non-GAAP) (U.S. Dollars in thousands)
	Three Months Ended								Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2026				2025				2026				2025
Net income/(loss)	$	4,640			$	(638	)		$	6,814			$	(4,954	)
Interest income		(319	)			(152	)			(945	)			(559	)
Interest expense		1				586				11				1,772
Provision for income taxes		332				–				374				–
Depreciation and amortization		–				12				–				38
Other revenue (a)		(183	)			–				(893	)			–
Share based compensation expense (b)		1,355				2,219				4,119				4,511
Unrealized loss on securities		–				–				–				2
Unrealized foreign exchange gain/(loss)		–				3				18				(27	)
Adjusted EBITDA	$	5,826			$	2,030			$	9,498			$	783

(a) Represents the portion of GAAP revenue related to “material rights” under the Company’s PEDMARK^® license with Norgine that is non-cash in the current period and was previously recorded as deferred licensing revenue. Under ASC 606, a portion of the upfront consideration received under this agreement was allocated to a material right and recorded as deferred revenue (contract liability), which is subsequently recognized as revenue as PEDMARK^® units are shipped to Norgine and the related material right is satisfied. These amounts are included in GAAP revenue in the periods presented, and the Company continues to apply GAAP recognition and measurement for all revenue, including this component. The adjustment is intended solely to remove this non-cash amortization of previously deferred licensing revenue from Adjusted EBITDA, as management believes excluding this item provides a more comparable view of period-over-period cash operating performance from the Company’s commercial activities.

(b) Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods.

About Cisplatin-Induced Ototoxicity
Cisplatin and other platinum-based chemotherapies are widely used to treat solid tumors and have been vital in improving survival rates. Unfortunately, these life-saving treatments often result in permanent, irreversible hearing loss, also known as ototoxicity.¹

Hearing loss from cisplatin treatment is not rare. Studies show that between 60-90% of patients treated with cisplatin may develop hearing loss, depending upon the dose and duration of chemotherapy.² Many of those treated with cisplatin will require lifelong hearing aids or cochlear implants, which can be helpful for some, but do not reverse the hearing loss and can be costly over time.³ Treatment-induced hearing loss can reduce quality of survivorship as it impacts many aspects of life, such as speech and language skills, academic performance, social-emotional development, career potential and the ability to live independently.^4,5 While audiologic monitoring is recommended to help manage ototoxicity, it is currently underutilized in certain cancer patient populations.

PEDMARK^® (sodium thiosulfate injection)

PEDMARK^® is the first and only U.S. Food and Drug Administration (FDA) approved therapy indicated to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients 1 month of age and older with localized, non-metastatic, solid tumors. It is a unique formulation of sodium thiosulfate in single-dose, ready-to-use vials for intravenous use in pediatric patients. PEDMARK is also the first and only therapeutic agent with proven efficacy and safety data with an established dosing regimen, across two open-label, randomized Phase 3 clinical studies, the Children’s Oncology Group (COG) Protocol ACCL0431 and SIOPEL 6.

Additionally, PEDMARK^® is recommended for the adolescent and young adult (AYA) population by the National Comprehensive Cancer Network, or NCCN, with a 2A endorsement.

Approximately 500,000 patients in the U.S. are diagnosed annually with cancers that could be treated with a platinum-based chemotherapy.^6,7 The incidence of ototoxicity depends upon the dose and duration of chemotherapy, and many of those treated will require lifelong hearing aids. Until the FDA approval of PEDMARK, there were no preventative agents for this hearing loss. Patients with hearing loss resulting from cancer treatment have a statistically significant worse quality of life compared with peers who have no hearing loss.^8,9

PEDMARK has been studied by co-operative groups in two Phase 3 clinical studies of survival and reduction of ototoxicity, COG ACCL0431 and SIOPEL 6. Both studies have been completed. The COG ACCL0431 protocol enrolled childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including newly diagnosed hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma, medulloblastoma, and other solid tumors. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors.

Indications and Usage
PEDMARK^® (sodium thiosulfate injection) is indicated to reduce the risk of ototoxicity associated with cisplatin in pediatric patients 1 month of age and older with localized, non-metastatic solid tumors.

Limitations of Use
The safety and efficacy of PEDMARK have not been established when administered following cisplatin infusions longer than 6 hours. PEDMARK may not reduce the risk of ototoxicity when administered following longer cisplatin infusions, because irreversible ototoxicity may have already occurred.

Important Safety Information
PEDMARK is contraindicated in patients with history of a severe hypersensitivity to sodium thiosulfate or any of its components.

Hypersensitivity reactions occurred in 8% to 13% of patients in clinical trials. Monitor patients for hypersensitivity reactions. Immediately discontinue PEDMARK and institute appropriate care if a hypersensitivity reaction occurs. Administer antihistamines or glucocorticoids (if appropriate) before each subsequent administration of PEDMARK. PEDMARK may contain sodium sulfite; patients with sulfite sensitivity may have hypersensitivity reactions, including anaphylactic symptoms and life-threatening or severe asthma episodes. Sulfite sensitivity is seen more frequently in people with asthma.

PEDMARK is not indicated for use in pediatric patients less than 1 month of age due to the increased risk of hypernatremia or in pediatric patients with metastatic cancers.

Hypernatremia occurred in 12% to 26% of patients in clinical trials, including a single Grade 3 case. Hypokalemia occurred in 15% to 27% of patients in clinical trials, with Grade 3 or 4 occurring in 9% to 27% of patients. Monitor serum sodium and potassium levels at baseline and as clinically indicated. Withhold PEDMARK in patients with baseline serum sodium greater than 145 mmol/L.

Monitor for signs and symptoms of hypernatremia and hypokalemia more closely if the glomerular filtration rate (GFR) falls below 60 mL/min/1.73m².

Administer antiemetics prior to each PEDMARK administration. Provide additional antiemetics and supportive care as appropriate.

The most common adverse reactions (≥25% with difference between arms of >5% compared to cisplatin alone) in SIOPEL 6 were vomiting, nausea, decreased hemoglobin, and hypernatremia. The most common adverse reaction (≥25% with difference between arms of >5% compared to cisplatin alone) in COG ACCL0431 was hypokalemia.

Please see full Prescribing Information for PEDMARK^® at: www.PEDMARK.com.

About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK^® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI^®.

In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize PEDMARQSI^® in Europe, U.K., Australia and New Zealand. PEDMARQSI is now commercially available in multiple countries.

PEDMARK has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK until 2039 in both the U.S. and internationally.

For more information, please visit www.fennecpharma.com and follow on LinkedIn.

Forward Looking Statements
Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include statements about our business strategy, timeline and other goals, plans and prospects, including our commercialization plans respecting PEDMARK^®/PEDMARQSI^®, the market opportunity for and market impact of PEDMARK^®/ PEDMARQSI^®, its potential impact on patients and anticipated benefits associated with its use, future commercial and regulatory milestone and royalty payments from Norgine, and potential access to further funding after the date of this release. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, our ability to obtain necessary capital when needed on acceptable terms or at all, the Company may not meet its future capital requirements in different countries and municipalities, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2025. Fennec disclaims any obligation to update these forward-looking statements except as required by law.

For a more detailed discussion of related risk factors, please refer to our public filings available at www.sec.gov and www.sedar.com.

PEDMARK^® PEDMARQSI^® and Fennec^® are registered trademarks of Fennec Pharmaceuticals Inc.

©2026 Fennec Pharmaceuticals Inc. All rights reserved.

For further information, please contact:

Investors:
Robert Andrade
Chief Financial Officer
Fennec Pharmaceuticals Inc.
+1 919-246-5299

Corporate and Media:
Lindsay Rocco
Elixir Health Public Relations
+1 862-596-1304
lrocco@elixirhealthpr.com

_______________
¹ Sheth S et al. Mechanisms of Cisplatin Ototoxicity and Progress in Otoprotection. Frontiers in Cellular Neuroscience. 2017, Vol. 11.
² Langer T, am Zehnhoff-Dinnesen A, Radtke S, Meitert J, Zolk O. Understanding platinum-induced ototoxicity. Trends Pharmacol Sci. 2013;34(8):458-469
³ Landier W. Ototoxicity and Cancer Therapy. Cancer. June 2016 Vol. 122, No.11: 1647-1658.
⁴ Clemens E, van den Heuvel-Eibrink MM, Mulder RL, et al. Recommendations for ototoxicity surveillance for childhood, adolescent, and young adult cancer survivors: a report from the International Late Effects of Childhood Cancer Guideline Harmonization Group in collaboration with the PanCare Consortium. Lancet Oncol. 2019;20(1):e29-e41
⁵ Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.
⁶ Chattaraj A et al. Cisplatin-Induced Ototoxicity: A Concise Review of the Burden, Prevention, and Interception Strategies. JCO Oncol Pract. 2023;19
⁷ Freyer DR et al. Effects of sodium thiosulfate versus observation on development of cisplatin-induced hearing loss in children with cancer (ACCL0431): a multicentre, randomised, controlled, open-label, phase 3 trial. Lancet Oncol. 2017;18(1):63-74.
⁸ Rajput K, Edwards L, Brock P, Abiodun A, Simpkin P, Al-Malky G. Ototoxicity-induced hearing loss and quality of life in survivors of paediatric cancer. Int J Pediatr Otorhinolaryngol. 2020;138:110401. doi:10.1016/j.ijporl.2020.110401
⁹ Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.

GOUVERNEUR, N.Y., Nov. 12, 2026 (GLOBE NEWSWIRE) — Titan Mining Corporation (NYSE-A:TII, TSX:TI) (“Titan” or the “Company”), a U.S.-focused critical minerals producer and developer, today reported its financial and operating results for the third quarter ended September 30, 2026.

Q3 2026 HIGHLIGHTS⁽¹⁾⁽²⁾

Operating and Financial Performance:

• Revenue: $22.6 million, up 35% from $16.8 million in Q3 2025. Nine-month revenue reached $67.9 million, up 38% year-over-year.
• Adjusted EBITDA: $6.2 million, up 111% from $2.9 million in Q3 2025. Nine-month Adjusted EBITDA was $19.8 million, up 146% year-over-year.
• Zinc production: 13.7 million payable pounds, reflecting temporary maintenance-driven production delays and lower feed grade. Higher production is expected in Q4 2026 as mining advances to the next level of the New Fold zone and pillar recovery begins in Mud Pond Apron and Lower Mahler.
• Cash costs: C1 cash cost of $1.13/lb and AISC of $1.27/lb, reflecting lower quarterly production and planned sustaining capital investment.
• Cash flow: Operating cash flow of $3.5 million in Q3 2026.
• Balance sheet: Net debt declined 54% year-over-year to $11.6 million, compared with $25.1 million at September 30, 2025. Titan ended the quarter with $16.8 million in cash (in addition to $4.8 million of margin deposits for zinc forward sales) and $28.6 million in available liquidity, providing financial flexibility to support ongoing operations and advance its critical minerals growth initiatives.
• Guidance reaffirmed: 2026 zinc production of 62–66 million payable pounds, C1 cash cost of $0.93–1.01/lb and AISC of $1.07–1.17/lb.

Strategic and Corporate Developments:

• U.S. Army commercial framework: On October 7, 2026, Titan’s subsidiary Empire State Mines, LLC executed a term sheet with the U.S. Department of the Army setting out the principal commercial terms of an Enhanced Use Lease for a proposed commercial-scale graphite processing facility at Anniston Army Depot, Alabama.
• Kilbourne on schedule: Titan continues to advance its planned 40,000-tonne-per-year Kilbourne natural graphite project, with the Feasibility Study targeted for release in early 2027. Federal FAST-41 and state permitting activities remain on schedule, while discussions with EXIM continue regarding potential financing of up to $120 million. In parallel, Titan is expanding the capabilities of its graphite demonstration facility to support product qualification and commercial engagement with prospective customers.
• Graphite processing upgrade: A fourth stirred media mill is being added to the graphite demonstration facility to enable single-pass production of flake graphite concentrate exceeding 95% carbon purity. Additional customer contract negotiations are underway.
• Germanium: Work continues to optimize recovery parameters at an independent laboratory in Kingston and define feed specifications for germanium concentrate sales to Teck’s Trail Operations, the only commercial-scale germanium recovery facility in North America. Titan is now defining the volume and grade of germanium in its active underground zinc orebodies as well as the #4 and Edwards tailings facilities.

^{(1) All amounts are in U.S. dollars unless otherwise indicated. Totals may not add due to rounding.}

^{(2) C1 cash cost, AISC, EBITDA, Adjusted EBITDA, net debt, and available liquidity are non-GAAP measures. These terms are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. See “Non-GAAP Performance Measures” below.}

Rita Adiani, President and CEO of Titan, commented:

“Titan delivered strong financial performance through the first nine months of 2026, with Adjusted EBITDA increasing 146% to $19.8 million and net debt improving 54% year-over-year. Despite maintenance-related impacts in the third quarter, we anticipate increased zinc production in Q4 and remain on track to achieve our full-year guidance.

At the same time, we are making meaningful progress in building a diversified U.S. critical minerals business. Our commercial framework with the U.S. Army represents a significant milestone in advancing domestic graphite processing, while Kilbourne and our germanium initiatives continue to progress. With a stronger balance sheet and $28.6 million in available liquidity, Titan is well positioned to execute its growth strategy and create long-term shareholder value.”

TABLE 1 Operating and Financial Highlights⁽¹⁾⁽²⁾

	Unit (US$)	Q3 2026		Q2 2026	Q1 2026(3)		9M 2026		Q4 2025		Q3 2025	Q2 2025	Q1 2025
Operating
Payable zinc produced	mlbs	13.67		17.49	14.17		45.33		18.74		14.64	15.51	15.37
Payable zinc sold	mlbs	13.73		17.19	13.96		44.89		18.74		13.81	16.04	15.57
Average provisional zinc price	$/lb	1.74		1.57	1.47		1.59		1.43		1.29	1.20	1.29
C1 cash cost	$/lb	1.13		0.88	1.04		1.01		0.88		1.01	0.90	0.91
AISC	$/lb	1.27		0.96	1.06		1.09		0.96		1.13	0.90	0.96
Financial
Revenue	$’000	22,640		25,704	19,596		67,940		25,102		16,775	16,344	16,015
Net income (loss) before tax	$’000	(3,057	)	6,063	(13,342	)	(10,336	)	(1,001	)	80	539	354
Earnings (loss) per share, basic	$/sh	(0.03	)	0.06	(0.14	)	(0.11	)	0.00		0.00	0.00	0.00
Adjusted EBITDA	$’000	6,166		9,564	4,062		19,792		8,224		2,926	2,569	2,541
Cash flow from operating activities before changes in non-cash working capital	$’000	1,062		4,878	1,904		7,844		6,664		2,147	2,363	2,690
Cash flow from operating activities after changes in non-cash working capital	$’000	3,474		261	(2,045	)	1,690		5,530		5,023	1,819	203
Financial Position
Cash and cash equivalents	$’000	16,824		13,302	13,816		16,824		17,484		4,285	8,142	12,183
Net debt	$’000	11,648		12,793	12,855		11,648		8,680		25,061	24,247	23,054

^{(1) All amounts are in U.S. dollars unless otherwise indicated. Totals may not add due to rounding.}

^{(2) C1 cash cost, AISC, Adjusted EBITDA and net debt are non-GAAP measures. See “Non-GAAP Performance Measures” below.}

^{(3) C1 cash cost and AISC for Q1 2026 were revised to align with the definitions in the Non-GAAP Performance Measures section, increasing them by $0.06/lb and $0.05/lb respectively from the figures reported on May 12, 2026.}

The Q3 2026 net loss before tax of $3.1 million reflects continued investment in Titan’s graphite growth strategy, including $4.4 million of Kilbourne Feasibility Study costs and $0.7 million of graphite project expenses, as well as a $1.1 million non-cash loss on the fair value of warrants. Adjusted EBITDA, which excludes these items as well as depreciation, interest and stock-based compensation, was $6.2 million in the quarter.

ZINC OPERATIONS REVIEW

Mining in Q3 2026 focused on the Mahler, New Fold and Mud Pond Apron zones of the #4 mine. Titan mined 111,161 tons and milled 111,110 tons of ore at a feed grade of 7.5% zinc. Mill recovery remained strong at 96.1%, producing 13,431 tons of zinc concentrate at a grade of 59.9% zinc. Quarterly production was affected by temporary maintenance-driven delays and lower grades, as Mahler mining was on the edges of the ore model and New Fold reached the limit of its current mining level.

Grades are expected to improve in Q4 2026 as mining begins on the next level of New Fold and retreat pillar recovery starts in Mud Pond Apron and parts of Lower Mahler. Mining in the N2D zone is expected to restart in 2027. Capital development continued on the New Fold and Upper Mahler up-ramps.

Titan is investing in long-term reliability and productivity. Three major capital projects are expected to be completed in Q4 2026: the #4 production shaft rail replacement, rehabilitation of the #2 shaft secondary egress, and the rebuild of the mill’s fine ore bin discharge chutes. A new mechanical bolter and a new 42-ton haul truck are expected to enter service in Q4 2026. Titan has also approved a production hoist upgrade, to be executed in Q1 2027, to further improve long-term hoisting reliability.

GRAPHITE UPDATE

Titan’s graphite demonstration facility at Empire State Mines has produced natural flake graphite concentrate since January 2026. Shipments to potential customers for product qualification are continuing. In Q4 2026, the facility’s grinding circuit is being upgraded with a new ball mill motor, variable frequency drive and gear reducer, and a fourth stirred media mill is being added. This will enable single-pass processing to a flake graphite concentrate exceeding 95% carbon purity. Installation and commissioning are expected to continue through November.

The Kilbourne Feasibility Study for the proposed 40,000 tonne-per-year graphite facility remains on track for completion in early 2027, with a final investment decision expected thereafter. Kilbourne is covered under the federal FAST-41 permitting framework, and key federal and state permitting milestones remain on schedule. Titan continues to work with EXIM to advance its expression of financing interest of up to $120 million under EXIM’s “Make More in America” initiative toward a commitment. Graphite-related expenditures totaled $5.2 million in Q3 2026.

Titan advanced its strategy to establish an integrated domestic graphite supply chain through an agreement with the U.S. Department of the Army on the principal commercial terms for a proposed commercial-scale graphite processing facility at Anniston Army Depot, Alabama. The contemplated Enhanced Use Lease would provide a framework for accessing established federal industrial infrastructure, potentially supporting more efficient development of domestic graphite processing capacity.

EXPLORATION UPDATE

In Q3 2026, Titan completed 10,710 feet of underground drilling in 27 holes on the Midway, New Fold, Mahler Main and Mud Pond orebodies. Several holes intersected mineralization at Midway, between Lower Mahler and New Fold, and holes at New Fold returned favorable results. Surface drilling tested the regional Bend and Parish targets, and germanium evaluation continued across four zinc orebodies and the #4 and Edwards tailings facilities. Assay results are pending. An updated zinc life-of-mine plan is expected in Q1 2027.

Scientific and Technical Information

The scientific and technical information contained in this news release related to the Company’s exploration activities and zinc operations has been reviewed and approved by Matthew Melnyk, CPG #11540 (AIPG), Vice President Exploration and Geology of Titan, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″). Mr. Melnyk is not independent of the Company.

The scientific and technical information contained in this news release related to the Company’s germanium and graphite development has been reviewed and approved by Oliver Peters, MSc., P.Eng., who is a Qualified Person as defined by NI 43-101. Mr. Peters is independent of the Company.

Refer to the Company’s technical report titled “Empire State Mines 2025 NI 43-101 Technical Report, Gouverneur, New York, USA” with an effective date of December 1, 2025, for additional information.

Non-GAAP Performance Measures

This document includes non-GAAP performance measures, discussed below, that do not have a standardized meaning prescribed by IFRS. The performance measures may not be comparable to similar measures reported by other issuers. The Company believes that these performance measures are commonly used by certain investors, in conjunction with conventional GAAP measures, to enhance their understanding of the Company’s performance. The Company uses these performance measures extensively in internal decision-making processes, including to assess how well ESM is performing and to assist in the assessment of the overall efficiency and effectiveness of the mine site management team. The tables below provide a reconciliation of these non-GAAP measures to the most directly comparable IFRS measures as contained within the Company’s issued financial statements.

C1 Cash Cost Per Payable Pound Sold

C1 cash cost is a non-GAAP measure. C1 cash cost represents the cash cost incurred at each processing stage, from mining through to recoverable metal delivered to customers, including mine site operating and general and administrative costs, freight, treatment and refining charges.

The C1 cash cost per payable pound sold is calculated by dividing the total C1 cash costs by payable pounds of metal sold.

All-in Sustaining Costs

AISC measures the estimated cash costs to produce a pound of payable zinc plus the estimated capital sustaining costs to maintain the mine and mill. This measure includes the C1 cash cost and capital sustaining costs divided by pounds of payable zinc sold. AISC does not include depreciation, depletion, amortization, reclamation and exploration expenses.

(US$’000, except per pound)	Three months ended September 30,								Nine months ended September 30,
	2026				2025				2026					2025
		Total		Per pound		Total		Per pound			Total		Per pound			Total		Per pound
Pounds of payable zinc sold (millions)		–		13.73		–		13.81			–		44.89			–		45.42
Cost of sales(1)	$	13,618	$	0.99	$	12,188	$	0.88		$	39,484	$	0.88		$	37,059	$	0.82
Smelting and refining costs	$	1,895	$	0.14	$	1,752	$	0.13		$	5,676	$	0.13		$	5,388	$	0.12
Total C1 cash cost	$	15,513	$	1.13	$	13,940	$	1.01		$	45,160	$	1.01		$	42,447	$	0.93
Sustaining capital expenditures	$	1,910	$	0.14	$	1,663	$	0.12		$	3,674	$	0.08		$	2,410	$	0.05
AISC	$	17,423	$	1.27	$	15,603	$	1.13		$	48,834	$	1.09		$	44,857	$	0.99

      ^{(1) Cost of sales excluding depreciation and share-based compensation, as these items are non-cash in nature.}

Sustaining capital expenditures

Sustaining capital expenditures are defined as those expenditures which do not increase payable mineral production at a mine site and exclude all expenditures at the Company’s projects and certain expenditures at the Company’s operating sites which are deemed expansionary in nature. Expansionary capital expenditures are expenditures that are deemed expansionary in nature. The following table reconciles sustaining capital expenditures and expansionary capital expenditures to the Company’s additions to mineral properties, plant and equipment (or total capital expenditures):

(US$’000)	Nine months ended September 30,
		2026		2025
Sustaining capital expenditures	$	3,674	$	2,410
Expansionary capital expenditures		1,798		6,840
Additions to mineral properties, plant and equipment	$	5,472	$	9,250

Available Liquidity

Available liquidity is calculated as the sum of cash and cash equivalents and undrawn debt facilities, net of exposure fees.

(US$’000)		As at September 30, 2026				As at December 31, 2025
Cash and cash equivalents	$		16,824		$	17,484
Undrawn portion of debt facilities	$		12,519		$	16,700
Less: exposure fees			(717	)		(957	)
Available liquidity	$		28,626		$	33,227

Net Debt

Net debt is calculated as the sum of the current and non-current portions of long-term debt, net of the cash and cash equivalent balance as at the balance sheet date. A reconciliation of net debt is provided below.

(US$’000)		As at September 30, 2026			As at December 31, 2025
Current portion of debt and related party loans	$	9,414		$	23,387
Non-current portion of debt and related party loans		19,058			2,777
Total debt	$	28,472		$	26,164
Less: Cash and cash equivalents		(16,824	)		(17,484	)
Net debt	$	11,648		$	8,680

EBITDA and Adjusted EBITDA 

EBITDA and Adjusted EBITDA are non-GAAP financial measures that do not have a standardized meaning prescribed by IFRS and may not be comparable to similarly titled measures used by other issuers. These measures should not be considered in isolation or as a substitute for financial information prepared in accordance with IFRS. The Company presents EBITDA and Adjusted EBITDA because management believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and other stakeholders use these measures to evaluate the Company’s operating performance and its ability to generate cash flows and service its debt obligations.

EBITDA is defined as net income (loss) before interest expense (net of interest income), income tax expense, depreciation, depletion, and amortization.

Adjusted EBITDA is defined as EBITDA further adjusted to exclude items that are significant in amount but not reflective of the underlying operating performance of the Company, including: (i) graphite project expenses; (ii) graphite feasibility study expenses; (iii) germanium project expenses; (iv) fair value changes on derivative-classified warrants (being the Special Warrants issued in December 2025 and the resulting Class A and Class B Warrants); (v) foreign exchange gains and losses; (vi) Special Warrant issuance costs; (vii) non-cash stock-based compensation expense; (viii) impairments; (ix) gains and losses on disposals of assets; and (x) non-cash gains and losses on loan modifications.

In particular, the Company excludes expenses related to the graphite demonstration facility, the graphite feasibility expenses and germanium project expenses because these adjustments relate to growth projects and are not indicative of the underlying operating performance. Additionally, fair value changes on derivative-classified warrants are excluded from Adjusted EBITDA because such adjustments are: (i) entirely non-cash; (ii) a mandatory consequence of IFRS accounting requirements applicable to equity instruments denominated in a currency other than the Company’s Canadian dollar functional currency, rather than a reflection of any change in the Company’s operating performance or financial condition; and (iii) not expected to affect the Company’s future cash flows, as the amount of cash received or receivable by the Company in connection with these instruments is fixed at the original subscription price ($15 million) and, in the case of warrant exercises, at the fixed exercise prices of $3.04 per share (Class A) and $3.71 per share (Class B).

(US$’000)	Three months ended September 30,							Nine months ended September 30,
		2026			2025				2026			2025
Net income (loss) before tax	$	(3,057	)	$	80		$		(10,336	)	$	973
Depreciation and depletion of mineral property, plant and equipment		1,278			1,037				3,571			4,084
Depreciation of right-of-use assets		34			23				74			57
Interest and other finance expenses		523			659				1,555			1,682
Interest income		(96	)		(73	)			(285	)		(277	)
Accretion expense		96			83				263			252
EBITDA		(1,222	)		1,809				(5,158	)		6,771
Graphite project expenses		734			880				2,510			880
Graphite feasibility study		4,436			–				9,727			–
Germanium project expenses		18			–				18			–
Stock-based compensation		285			252				733			457
Foreign exchange (gain) loss		812			(15	)			366			(72	)
Loss (gain) on fair value of derivative financial instruments		1,103			–				11,596			–
Adjusted EBITDA	$	6,166		$	2,926		$		19,792		$	8,036

About Titan Mining Corporation

Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York State. Titan is also the United States’ first end-to-end producer of natural flake graphite in 70 years and is advancing graphite and germanium initiatives to strengthen domestic critical minerals supply chains. The Company has also received support from the U.S. Export-Import Bank (EXIM) under its Make More in America Initiative. Titan’s goal is to deliver shareholder value through operational excellence, development, and exploration. We have a strong commitment towards developing critical minerals assets which enhance the security of the domestic supply chain. For more information on the Company, please visit our website at www.titanminingcorp.com.

Media & Investor Contact

Irina Kuznetsova
Director, Investor Relations
Phone: (778) 870-7735
Email: info@titanminingcorp.com

Cautionary Note Regarding Forward-Looking Information

Certain statements and information contained in this news release constitute “forward-looking statements”, and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including statements regarding: Higher production is expected in Q4 2026 as mining advances to the next level of the New Fold zone and pillar recovery begins in Mud Pond Apron and Lower Mahler; a proposed commercial-scale graphite processing facility at Anniston Army Depot, Alabama; Titan continues to advance its planned 40,000-tonne-per-year Kilbourne natural graphite project, with the Feasibility Study targeted for release in early 2027; a proposed investment decision thereafter; Titan is well positioned to execute its growth strategy and create long-term shareholder value; three major capital projects are expected to be completed in Q4 2026: the #4 production shaft rail replacement, rehabilitation of the #2 shaft secondary egress, and the rebuild of the mill’s fine ore bin discharge chutes; a new mechanical bolter and a new 42-ton haul truck are expected to enter service in Q4 2026; Titan has also approved a production hoist upgrade, to be executed in Q1 2027, to further improve long-term hoisting reliability; the contemplated Enhanced Use Lease would provide a framework for accessing established federal industrial infrastructure, potentially supporting more efficient development of domestic graphite processing capacity; and an updated zinc life-of-mine plan is expected in Q1 2027. When used in this news release words such as “to be”, “believe”, “targeted”, “could”, “will”, “planned”, “expected”, “potential”, and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of zinc, graphite and germanium; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in New York State; risks due to legal proceedings; and risks related to operation of mining projects generally; risks relating to changes in trade measures affecting graphite, including the absence of antidumping and countervailing duty orders on active anode material following the U.S. International Trade Commission’s negative determinations, and changes to Section 301 or other tariffs; risks that customer qualification programs are not completed successfully or that non-binding arrangements do not result in definitive agreements; reliance on a limited number of customers and on third-party processing capacity; risks associated with government contracting, Enhanced Use Leases and government-supported financing programs, including that the October 7, 2026 term sheet may not result in a definitive Enhanced Use Lease or construction and operation of the proposed graphite processing facility at Anniston Army Depot; risks that the Feasibility Study is delayed or its results do not support development, or that Board approval, permits or financing for a construction decision are not obtained; risks that germanium recovery testing does not establish a technically or economically viable commercial opportunity; risks that the Company does not achieve its 2026 production, cost or Adjusted EBITDA guidance, resume N2D zone operations, commission equipment or complete planned drilling on the anticipated timelines; risks that pending assay results do not meet expectations; and the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators and the United States Securities and Exchange Commission. Such forward-looking statements are based on various assumptions, including assumptions made with regard to our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mining activities will remain consistent; our approved business plans; our mineral resource estimates and results of the preliminary economic assessment; our experience with regulators; political and social support of the mining industry in New York State; our experience and knowledge of the New York State mining industry and our expectations of economic conditions and the price of zinc, graphite and germanium; demand for graphite and germanium; exploration results; the ability to secure adequate financing (as needed); the continued availability of the EXIM facility and that the expression of interest of up to $120 million converts into committed financing; that the Kilbourne Feasibility Study will remain on schedule and produce results supporting development; that the Board will approve a construction decision and required permits and financing will be available on acceptable terms; the applicable Enhanced Use Lease opportunities will proceed and all required governmental approvals will be obtained; that customer qualification programs and commercial-scale processing will be completed successfully; that germanium recovery testing will support a technically and economically viable commercial opportunity; that planned operations, equipment commissioning, drilling and geotechnical work will proceed on schedule and pending assay results will support the Company’s exploration objectives; that production, costs, zinc prices and other operating and market conditions will support the Company’s 2026 guidance; the continuity of U.S. federal policy support for domestic critical minerals production; the availability of third-party processing capacity on commercially acceptable terms; the Company maintaining its current strategy and objectives; and the Company’s ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.