NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
CALGARY, Alberta, Oct. 06, 2026 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (“Alaris” or the “Trust“) (TSX: AD.UN) is pleased to announce that it will release its financial results for the three and nine months ended September 30, 2026 following the closing of regular trading on the Toronto Stock Exchange Tuesday, November 3, 2026. Alaris management will host a conference call at 10am Alberta Time (ABT) / 11am ET the following day, Wednesday, November 4, 2026, to discuss the financial results and outlook for the Trust.
Participants must register for the call using this link: Pre-registration to Q3 to receive the dial-in numbers and unique PIN to access the call seamlessly. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call). Participants can access the webcast here: Q3 webcast. A replay of the webcast will be available two hours after the call and archived on the same web page for six months. Participants can also find the link on our website, stored under the “Investors” section – “Presentations and Events”, at www.alarisequitypartners.com.
About Alaris
The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Private Company Partners”) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Private Company Partners.
NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
CALGARY, Alberta, Oct. 06, 2026 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (“Alaris” or the “Trust“) (TSX: AD.UN) is pleased to announce that it will release its financial results for the three and nine months ended September 30, 2026 following the closing of regular trading on the Toronto Stock Exchange Tuesday, November 3, 2026. Alaris management will host a conference call at 10am Alberta Time (ABT) / 11am ET the following day, Wednesday, November 4, 2026, to discuss the financial results and outlook for the Trust.
Participants must register for the call using this link: Pre-registration to Q3 to receive the dial-in numbers and unique PIN to access the call seamlessly. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call). Participants can access the webcast here: Q3 webcast. A replay of the webcast will be available two hours after the call and archived on the same web page for six months. Participants can also find the link on our website, stored under the “Investors” section – “Presentations and Events”, at www.alarisequitypartners.com.
About Alaris
The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Private Company Partners”) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Private Company Partners.
The MICHELIN Guide today unveiled the 5th edition of its Dubai selection at a ceremony held at Atlantis The Royal.
Orfali Bros is promoted to Two MICHELIN Stars, while Dubai’s existing Three and Two MICHELIN Star restaurants retain their distinctions
KIGO and Birch debut in the selection with One MICHELIN Star
The selection features 122 restaurants, with 19 new additions, including 2 new One MICHELIN Star restaurants, 4 new Bib Gourmand restaurants and 13 new MICHELIN-Selected restaurants
DUBAI, United Arab Emirates, Oct. 07, 2026 (GLOBE NEWSWIRE) — The MICHELIN Guide today unveiled the 5th edition of its Dubai selection at a ceremony held at Atlantis The Royal. With 122 restaurants representing 38 cuisine types, this edition celebrates Dubai’s growing global culinary credentials alongside destination partner the Dubai Department of Economy and Tourism (DET). From homegrown neighbourhood eateries to glamorous fine dining destinations, the selection reveals a culinary scene that continues to develop and expand apace.
Dubai’s Three and Two MICHELIN Star restaurants retain their distinctions, with Orfali Bros promoted to Two Stars. The 19 new additions, 2 One MICHELIN Star restaurants, 4 Bib Gourmands and 13 MICHELIN-Selected restaurants highlight the rise of standalone concepts and menus increasingly tailored to local diners.
Gwendal Poullennec, International Director of the MICHELIN Guides, said: “We are delighted to celebrate the fifth anniversary of the MICHELIN Guide Dubai today. The selection has grown significantly since its inception and now features nearly twice as many establishments as it did when it was first launched. This remarkable evolution demonstrates that Dubai’s culinary scene continues to thrive, with our Inspectors discovering new internationally acclaimed dining destinations year after year. This year’s combination of homegrown talent and international arrivals reflects a city that is developing its own culinary identity while embracing traditions from around the world. The strength of Dubai’s hospitality sector underlines the city’s hunger, passion and determination to enhance its reputation as a global gastronomic destination, giving food lovers compelling reasons to visit and to return.”
2 restaurants retain Three MICHELIN Stars
The MICHELIN Guide’s highest distinction recognises exceptional cuisine worth a special journey.
FZN by Björn Frantzén and Trèsind Studio retain their Three MICHELIN Star distinctions.
4 restaurants recognised with Two MICHELIN Stars
This year’s selection includes one promotion to Two MICHELIN Stars, while three restaurants retain their distinctions.
Orfali Bros is promoted to Two MICHELIN Stars, two years after earning its first MICHELIN Star. The promotion marks its evolution from a brilliant neighbourhood bistro into a flagship of Middle Eastern gastronomy. Rooted in the brothers’ Aleppian, Armenian and Turkish heritage, its signature dishes and Voyage menu reveal cooking of increasing refinement, depth and personality.
While Il Ristorante-Niko Romito, Row on 45, and STAY by Yannick Alléno maintain their distinctions for the 2026 Selection.
2 new restaurants receive One MICHELIN Star
Birch enters the selection with One MICHELIN Star. Chef Arslan Berdiev’s Turkmen roots and travels shape a contemporary menu built around top-quality produce, including Uzbek tomatoes. An immaculate open kitchen brings the cooking into view, while a striking hanging installation reminiscent of birch bark gives the room its character.
KIGO enters the selection with One MICHELIN Star. The Sushi Omakase experience at the counter and the Kaiseki option at a table offer two ways to discover its seasonal Japanese cooking. Superb produce is handled with care to create delicate, harmonious flavours, while the presentation adds an understated sense of theatre.
Two new additions join 12 restaurants, retaining their distinction, bringing this year’s One MICHELIN Star selection to 14.
4 new restaurants receive a Bib Gourmand
The Bib Gourmand recognises restaurants offering exceptional food at great value. Dubai’s 2026 selection features 22 Bib Gourmand restaurants, including four new additions.
Middle Child serves fresh, generous Italian dishes in a relaxed bistro and deli where diners can browse cookbooks as well as the menu.
S.E.A Bistrot is an intimate setting for Chef Shane’s bold, authentic Asian cooking. Mango & Sticky Rice and Milk Cake have earned a following of their own.
Three Bros is the bright, busy sister restaurant to Orfali Bros. Its dishes bring the three Syrian brothers’ childhood, heritage and travels to the table.
YUBI Dubai serves hand rolls made to order straight across the counter. Homemade pickles and condiments bring bold flavours to its fun, relaxed approach to Japanese dining.
MICHELIN Special Awards
The MICHELIN Special Awards celebrate the professionals whose skill, care and individuality shape Dubai’s dining experiences.
The MICHELIN Opening of the Year Award celebrates Gonzalo Platero and Window, an Alserkal restaurant distinguished by exceptional wood-fired cooking that brings out the ingredients’ natural flavours.
The MICHELIN Sommelier Award is presented to Ninad Jani of avatāra for his approachable service and expertly curated pairings with the restaurant’s vegetarian Indian cuisine.
The MICHELIN Service Award recognises Akinori Tanigawa and the team at KIGO for their warm, professional service, complementing the restaurant’s refined Japanese cuisine.
The MICHELIN Young Chef Award goes to Rémy Marquignon, Executive Chef of Ossiano, for his creative modern cooking rooted in classic French technique, helping the restaurant retain its One MICHELIN Star.
The MICHELIN Exceptional Cocktails Award is presented to Zahra Erfanian Azmoodeh of Carbone Dubai for cocktails that enhance its glamorous Italian-American dining experience.
The 5th edition reflects Dubai’s confident dining scene, where established restaurants and new arrivals give residents and visitors more reasons to explore the city through food.
The MICHELIN Guide Dubai 2026 selection at a glance:
2 restaurants with Three MICHELIN Stars
4 restaurants with Two MICHELIN Stars (1 promotion)
14 restaurants with One MICHELIN Star (2 new)
22 Bib Gourmand restaurants (4 new)
80 MICHELIN-Selected restaurants (13 new)
A replay of The MICHELIN Guide Ceremony and other highlights are available on the official MICHELIN Guide Middle East Facebook page and the MICHELIN Guide Global YouTube channel.
The full selection of The MICHELIN Guide Dubai 2026 is available on the MICHELIN Guide website https://guide.michelin.com/ae-du/en and the MICHELIN Guide app, available free of charge on iOS and Android.
The MICHELIN Guide is a benchmark in gastronomy. Now, it’s setting a new standard for hotels. Visit the MICHELIN Guide’s official website, or download the MICHELIN Guide mobile app (iOS and Android), to discover every restaurant in the selection and book an unforgettable hotel.
The MICHELIN Guide Worldwide app for iOS and Android devices.
Mindful Voices
New for 2026 and making its Dubai debut, Mindful Voices is the MICHELIN Guide’s global editorial platform bringing together chefs and hoteliers who are rewriting the rules in their respective fields. It gives them a space to share their stories and pioneering practices with one another and a worldwide audience.
“Dubai’s culinary ambition is reflected in the choices its chefs make every day,” said Gwendal Poullennec, International Director of the MICHELIN Guides. “Mindful Voices draws directly from what our inspection teams witness firsthand: encounters and experiences that are transforming how things are done and deserve to be shared. By amplifying these stories through the MICHELIN Guide, we hope the ideas and convictions behind them will inspire others to explore new approaches to gastronomy.”
Zachary Roy, Operational Manager of LOWE is featured as a Mindful Voice, On stage at the ceremony, he shared the restaurant’s approach to sourcing and making the most of every ingredient. He explained that its fire-led cooking follows a nose-to-tail ethos, using traceable ingredients sourced as locally as possible and turning organic waste into compost for its garden.
About Michelin:
Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world. Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare. The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI-based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 122,600 people. (www.michelin.com).
The MICHELIN Guide today unveiled the 5th edition of its Dubai selection at a ceremony held at Atlantis The Royal.
Orfali Bros is promoted to Two MICHELIN Stars, while Dubai’s existing Three and Two MICHELIN Star restaurants retain their distinctions
KIGO and Birch debut in the selection with One MICHELIN Star
The selection features 122 restaurants, with 19 new additions, including 2 new One MICHELIN Star restaurants, 4 new Bib Gourmand restaurants and 13 new MICHELIN-Selected restaurants
DUBAI, United Arab Emirates, Oct. 07, 2026 (GLOBE NEWSWIRE) — The MICHELIN Guide today unveiled the 5th edition of its Dubai selection at a ceremony held at Atlantis The Royal. With 122 restaurants representing 38 cuisine types, this edition celebrates Dubai’s growing global culinary credentials alongside destination partner the Dubai Department of Economy and Tourism (DET). From homegrown neighbourhood eateries to glamorous fine dining destinations, the selection reveals a culinary scene that continues to develop and expand apace.
Dubai’s Three and Two MICHELIN Star restaurants retain their distinctions, with Orfali Bros promoted to Two Stars. The 19 new additions, 2 One MICHELIN Star restaurants, 4 Bib Gourmands and 13 MICHELIN-Selected restaurants highlight the rise of standalone concepts and menus increasingly tailored to local diners.
Gwendal Poullennec, International Director of the MICHELIN Guides, said: “We are delighted to celebrate the fifth anniversary of the MICHELIN Guide Dubai today. The selection has grown significantly since its inception and now features nearly twice as many establishments as it did when it was first launched. This remarkable evolution demonstrates that Dubai’s culinary scene continues to thrive, with our Inspectors discovering new internationally acclaimed dining destinations year after year. This year’s combination of homegrown talent and international arrivals reflects a city that is developing its own culinary identity while embracing traditions from around the world. The strength of Dubai’s hospitality sector underlines the city’s hunger, passion and determination to enhance its reputation as a global gastronomic destination, giving food lovers compelling reasons to visit and to return.”
2 restaurants retain Three MICHELIN Stars
The MICHELIN Guide’s highest distinction recognises exceptional cuisine worth a special journey.
FZN by Björn Frantzén and Trèsind Studio retain their Three MICHELIN Star distinctions.
4 restaurants recognised with Two MICHELIN Stars
This year’s selection includes one promotion to Two MICHELIN Stars, while three restaurants retain their distinctions.
Orfali Bros is promoted to Two MICHELIN Stars, two years after earning its first MICHELIN Star. The promotion marks its evolution from a brilliant neighbourhood bistro into a flagship of Middle Eastern gastronomy. Rooted in the brothers’ Aleppian, Armenian and Turkish heritage, its signature dishes and Voyage menu reveal cooking of increasing refinement, depth and personality.
While Il Ristorante-Niko Romito, Row on 45, and STAY by Yannick Alléno maintain their distinctions for the 2026 Selection.
2 new restaurants receive One MICHELIN Star
Birch enters the selection with One MICHELIN Star. Chef Arslan Berdiev’s Turkmen roots and travels shape a contemporary menu built around top-quality produce, including Uzbek tomatoes. An immaculate open kitchen brings the cooking into view, while a striking hanging installation reminiscent of birch bark gives the room its character.
KIGO enters the selection with One MICHELIN Star. The Sushi Omakase experience at the counter and the Kaiseki option at a table offer two ways to discover its seasonal Japanese cooking. Superb produce is handled with care to create delicate, harmonious flavours, while the presentation adds an understated sense of theatre.
Two new additions join 12 restaurants, retaining their distinction, bringing this year’s One MICHELIN Star selection to 14.
4 new restaurants receive a Bib Gourmand
The Bib Gourmand recognises restaurants offering exceptional food at great value. Dubai’s 2026 selection features 22 Bib Gourmand restaurants, including four new additions.
Middle Child serves fresh, generous Italian dishes in a relaxed bistro and deli where diners can browse cookbooks as well as the menu.
S.E.A Bistrot is an intimate setting for Chef Shane’s bold, authentic Asian cooking. Mango & Sticky Rice and Milk Cake have earned a following of their own.
Three Bros is the bright, busy sister restaurant to Orfali Bros. Its dishes bring the three Syrian brothers’ childhood, heritage and travels to the table.
YUBI Dubai serves hand rolls made to order straight across the counter. Homemade pickles and condiments bring bold flavours to its fun, relaxed approach to Japanese dining.
MICHELIN Special Awards
The MICHELIN Special Awards celebrate the professionals whose skill, care and individuality shape Dubai’s dining experiences.
The MICHELIN Opening of the Year Award celebrates Gonzalo Platero and Window, an Alserkal restaurant distinguished by exceptional wood-fired cooking that brings out the ingredients’ natural flavours.
The MICHELIN Sommelier Award is presented to Ninad Jani of avatāra for his approachable service and expertly curated pairings with the restaurant’s vegetarian Indian cuisine.
The MICHELIN Service Award recognises Akinori Tanigawa and the team at KIGO for their warm, professional service, complementing the restaurant’s refined Japanese cuisine.
The MICHELIN Young Chef Award goes to Rémy Marquignon, Executive Chef of Ossiano, for his creative modern cooking rooted in classic French technique, helping the restaurant retain its One MICHELIN Star.
The MICHELIN Exceptional Cocktails Award is presented to Zahra Erfanian Azmoodeh of Carbone Dubai for cocktails that enhance its glamorous Italian-American dining experience.
The 5th edition reflects Dubai’s confident dining scene, where established restaurants and new arrivals give residents and visitors more reasons to explore the city through food.
The MICHELIN Guide Dubai 2026 selection at a glance:
2 restaurants with Three MICHELIN Stars
4 restaurants with Two MICHELIN Stars (1 promotion)
14 restaurants with One MICHELIN Star (2 new)
22 Bib Gourmand restaurants (4 new)
80 MICHELIN-Selected restaurants (13 new)
A replay of The MICHELIN Guide Ceremony and other highlights are available on the official MICHELIN Guide Middle East Facebook page and the MICHELIN Guide Global YouTube channel.
The full selection of The MICHELIN Guide Dubai 2026 is available on the MICHELIN Guide website https://guide.michelin.com/ae-du/en and the MICHELIN Guide app, available free of charge on iOS and Android.
The MICHELIN Guide is a benchmark in gastronomy. Now, it’s setting a new standard for hotels. Visit the MICHELIN Guide’s official website, or download the MICHELIN Guide mobile app (iOS and Android), to discover every restaurant in the selection and book an unforgettable hotel.
The MICHELIN Guide Worldwide app for iOS and Android devices.
Mindful Voices
New for 2026 and making its Dubai debut, Mindful Voices is the MICHELIN Guide’s global editorial platform bringing together chefs and hoteliers who are rewriting the rules in their respective fields. It gives them a space to share their stories and pioneering practices with one another and a worldwide audience.
“Dubai’s culinary ambition is reflected in the choices its chefs make every day,” said Gwendal Poullennec, International Director of the MICHELIN Guides. “Mindful Voices draws directly from what our inspection teams witness firsthand: encounters and experiences that are transforming how things are done and deserve to be shared. By amplifying these stories through the MICHELIN Guide, we hope the ideas and convictions behind them will inspire others to explore new approaches to gastronomy.”
Zachary Roy, Operational Manager of LOWE is featured as a Mindful Voice, On stage at the ceremony, he shared the restaurant’s approach to sourcing and making the most of every ingredient. He explained that its fire-led cooking follows a nose-to-tail ethos, using traceable ingredients sourced as locally as possible and turning organic waste into compost for its garden.
About Michelin:
Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world. Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare. The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI-based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 122,600 people. (www.michelin.com).
The MICHELIN Guide today unveiled the 5th edition of its Dubai selection at a ceremony held at Atlantis The Royal.
Orfali Bros is promoted to Two MICHELIN Stars, while Dubai’s existing Three and Two MICHELIN Star restaurants retain their distinctions
KIGO and Birch debut in the selection with One MICHELIN Star
The selection features 122 restaurants, with 19 new additions, including 2 new One MICHELIN Star restaurants, 4 new Bib Gourmand restaurants and 13 new MICHELIN-Selected restaurants
DUBAI, United Arab Emirates, Oct. 07, 2026 (GLOBE NEWSWIRE) — The MICHELIN Guide today unveiled the 5th edition of its Dubai selection at a ceremony held at Atlantis The Royal. With 122 restaurants representing 38 cuisine types, this edition celebrates Dubai’s growing global culinary credentials alongside destination partner the Dubai Department of Economy and Tourism (DET). From homegrown neighbourhood eateries to glamorous fine dining destinations, the selection reveals a culinary scene that continues to develop and expand apace.
Dubai’s Three and Two MICHELIN Star restaurants retain their distinctions, with Orfali Bros promoted to Two Stars. The 19 new additions, 2 One MICHELIN Star restaurants, 4 Bib Gourmands and 13 MICHELIN-Selected restaurants highlight the rise of standalone concepts and menus increasingly tailored to local diners.
Gwendal Poullennec, International Director of the MICHELIN Guides, said: “We are delighted to celebrate the fifth anniversary of the MICHELIN Guide Dubai today. The selection has grown significantly since its inception and now features nearly twice as many establishments as it did when it was first launched. This remarkable evolution demonstrates that Dubai’s culinary scene continues to thrive, with our Inspectors discovering new internationally acclaimed dining destinations year after year. This year’s combination of homegrown talent and international arrivals reflects a city that is developing its own culinary identity while embracing traditions from around the world. The strength of Dubai’s hospitality sector underlines the city’s hunger, passion and determination to enhance its reputation as a global gastronomic destination, giving food lovers compelling reasons to visit and to return.”
2 restaurants retain Three MICHELIN Stars
The MICHELIN Guide’s highest distinction recognises exceptional cuisine worth a special journey.
FZN by Björn Frantzén and Trèsind Studio retain their Three MICHELIN Star distinctions.
4 restaurants recognised with Two MICHELIN Stars
This year’s selection includes one promotion to Two MICHELIN Stars, while three restaurants retain their distinctions.
Orfali Bros is promoted to Two MICHELIN Stars, two years after earning its first MICHELIN Star. The promotion marks its evolution from a brilliant neighbourhood bistro into a flagship of Middle Eastern gastronomy. Rooted in the brothers’ Aleppian, Armenian and Turkish heritage, its signature dishes and Voyage menu reveal cooking of increasing refinement, depth and personality.
While Il Ristorante-Niko Romito, Row on 45, and STAY by Yannick Alléno maintain their distinctions for the 2026 Selection.
2 new restaurants receive One MICHELIN Star
Birch enters the selection with One MICHELIN Star. Chef Arslan Berdiev’s Turkmen roots and travels shape a contemporary menu built around top-quality produce, including Uzbek tomatoes. An immaculate open kitchen brings the cooking into view, while a striking hanging installation reminiscent of birch bark gives the room its character.
KIGO enters the selection with One MICHELIN Star. The Sushi Omakase experience at the counter and the Kaiseki option at a table offer two ways to discover its seasonal Japanese cooking. Superb produce is handled with care to create delicate, harmonious flavours, while the presentation adds an understated sense of theatre.
Two new additions join 12 restaurants, retaining their distinction, bringing this year’s One MICHELIN Star selection to 14.
4 new restaurants receive a Bib Gourmand
The Bib Gourmand recognises restaurants offering exceptional food at great value. Dubai’s 2026 selection features 22 Bib Gourmand restaurants, including four new additions.
Middle Child serves fresh, generous Italian dishes in a relaxed bistro and deli where diners can browse cookbooks as well as the menu.
S.E.A Bistrot is an intimate setting for Chef Shane’s bold, authentic Asian cooking. Mango & Sticky Rice and Milk Cake have earned a following of their own.
Three Bros is the bright, busy sister restaurant to Orfali Bros. Its dishes bring the three Syrian brothers’ childhood, heritage and travels to the table.
YUBI Dubai serves hand rolls made to order straight across the counter. Homemade pickles and condiments bring bold flavours to its fun, relaxed approach to Japanese dining.
MICHELIN Special Awards
The MICHELIN Special Awards celebrate the professionals whose skill, care and individuality shape Dubai’s dining experiences.
The MICHELIN Opening of the Year Award celebrates Gonzalo Platero and Window, an Alserkal restaurant distinguished by exceptional wood-fired cooking that brings out the ingredients’ natural flavours.
The MICHELIN Sommelier Award is presented to Ninad Jani of avatāra for his approachable service and expertly curated pairings with the restaurant’s vegetarian Indian cuisine.
The MICHELIN Service Award recognises Akinori Tanigawa and the team at KIGO for their warm, professional service, complementing the restaurant’s refined Japanese cuisine.
The MICHELIN Young Chef Award goes to Rémy Marquignon, Executive Chef of Ossiano, for his creative modern cooking rooted in classic French technique, helping the restaurant retain its One MICHELIN Star.
The MICHELIN Exceptional Cocktails Award is presented to Zahra Erfanian Azmoodeh of Carbone Dubai for cocktails that enhance its glamorous Italian-American dining experience.
The 5th edition reflects Dubai’s confident dining scene, where established restaurants and new arrivals give residents and visitors more reasons to explore the city through food.
The MICHELIN Guide Dubai 2026 selection at a glance:
2 restaurants with Three MICHELIN Stars
4 restaurants with Two MICHELIN Stars (1 promotion)
14 restaurants with One MICHELIN Star (2 new)
22 Bib Gourmand restaurants (4 new)
80 MICHELIN-Selected restaurants (13 new)
A replay of The MICHELIN Guide Ceremony and other highlights are available on the official MICHELIN Guide Middle East Facebook page and the MICHELIN Guide Global YouTube channel.
The full selection of The MICHELIN Guide Dubai 2026 is available on the MICHELIN Guide website https://guide.michelin.com/ae-du/en and the MICHELIN Guide app, available free of charge on iOS and Android.
The MICHELIN Guide is a benchmark in gastronomy. Now, it’s setting a new standard for hotels. Visit the MICHELIN Guide’s official website, or download the MICHELIN Guide mobile app (iOS and Android), to discover every restaurant in the selection and book an unforgettable hotel.
The MICHELIN Guide Worldwide app for iOS and Android devices.
Mindful Voices
New for 2026 and making its Dubai debut, Mindful Voices is the MICHELIN Guide’s global editorial platform bringing together chefs and hoteliers who are rewriting the rules in their respective fields. It gives them a space to share their stories and pioneering practices with one another and a worldwide audience.
“Dubai’s culinary ambition is reflected in the choices its chefs make every day,” said Gwendal Poullennec, International Director of the MICHELIN Guides. “Mindful Voices draws directly from what our inspection teams witness firsthand: encounters and experiences that are transforming how things are done and deserve to be shared. By amplifying these stories through the MICHELIN Guide, we hope the ideas and convictions behind them will inspire others to explore new approaches to gastronomy.”
Zachary Roy, Operational Manager of LOWE is featured as a Mindful Voice, On stage at the ceremony, he shared the restaurant’s approach to sourcing and making the most of every ingredient. He explained that its fire-led cooking follows a nose-to-tail ethos, using traceable ingredients sourced as locally as possible and turning organic waste into compost for its garden.
About Michelin:
Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world. Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare. The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI-based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 122,600 people. (www.michelin.com).
TORONTO, Oct. 06, 2026 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCID: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce that it has completed the previously announced transaction with Community Carbon and UpEnergy Group (collectively, the “UPE Parties”), and has received the full sale amount of US$6.0 million in connection with the sale of credits, termination of the Community Carbon Stream and the transfer of the Company’s remaining portfolio of carbon credits.
On closing, the escrowed funds of US$3.65 million were released to the Company. Together with the US$2.35 million previously received directly from a third-party purchaser, as announced on October 1, 2026, the Company has now received the total consideration of US$6.0 million.
Upon release of the escrowed funds, the Community Carbon Stream and the related agreements were terminated, the documents permitting the release of security granted in favor of the Company were released from escrow and discharged, and the parties granted mutual releases of all future obligations between them. The Company has transferred its remaining inventory of carbon credits under the Community Carbon Stream to the UPE Parties.
Under the terms of the termination agreement, the UPE Parties are responsible for payment of the share of proceeds payable to the Government of Tanzania, equal to 8% of the proceeds of the sales of Tanzanian cookstove carbon credits described above, including the credits sold by the Company.
Following completion of the transaction, the Company holds C$43.9 million and US$11.3 million in cash as at October 6, 2026. The Company currently has 49,059,053 common shares outstanding and no warrants. Carbon Streaming’s remaining portfolio consists of four carbon credit streaming and royalty investments, which are the Azuero Reforestation Stream, the Nalgonda Rice Farming Stream, Enfield Biochar Stream and Royalty and Waverly Biochar Stream and Royalty.
Marin Katusa, CEO, stated, “The Company will continue to focus our resources on maximizing value for shareholders from our existing portfolio and fully pursue the recovering of assets through ongoing litigation.
In line with this commitment to shareholders, we have filed a statement of claim against certain former executives, board members, consultants, and associated entities to hold the defendants accountable for actions that have caused financial harm to the Company, as outlined in the lawsuit. While certain defendants have filed counterclaims, we believe these to be without merit and have filed a defense to these counterclaims to vigorously defend our position.
The Company will continue to evaluate acquisitions, divestments, corporate transactions, financings, and other strategic partnership opportunities that will result in maximizing shareholder value.”
About Carbon Streaming
Carbon Streaming’s focus is to maximize value for its shareholders by optimizing its current portfolio of projects.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation, statements regarding maximizing its existing portfolio and cash resources; statements regarding the evaluation of strategic options; statements with respect to maximizing value for its shareholders; statements regarding the Company holding certain former executives, directors, consultants, and associated entities to account and the merits of the counterclaims from certain of the defendants and the Company’s defenses; statements regarding the payment by the UPE Parties of the share of proceeds payable to the Government of Tanzania under Tanzania’s carbon trading regulations; statements regarding the Company’s remaining portfolio of carbon credit streaming and royalty investments; and statements regarding the Company’s intention to evaluate acquisitions, divestments, corporate transactions, financings and other strategic partnership opportunities.
When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends”, “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking information. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: include, among other things: the UPE Parties may fail to pay the share of proceeds payable to the Government of Tanzania when due or at all, the Company’s remaining carbon credit streaming and royalty investments may not perform as expected; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and environmental, social and governance initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; the Company’s expectations and plans with respect to current litigation, arbitration and regulatory proceedings; reputational risk; concentration risk; inaccurate estimates of project value, which may impact the ability of the Company to execute on its growth and diversification strategy; limited operating history for the Company’s current strategy; dependence upon key management; impact of the corporate restructurings and the strategic initiatives advanced by the Company; impact of any strategic opportunities; the inability of the Company to optimize cash flows or sufficiently reduce operating expenses; risks arising from competition and future acquisition activities failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 30, 2026 filed on SEDAR+ at www.sedarplus.ca.
Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
TORONTO, Oct. 06, 2026 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCID: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce that it has completed the previously announced transaction with Community Carbon and UpEnergy Group (collectively, the “UPE Parties”), and has received the full sale amount of US$6.0 million in connection with the sale of credits, termination of the Community Carbon Stream and the transfer of the Company’s remaining portfolio of carbon credits.
On closing, the escrowed funds of US$3.65 million were released to the Company. Together with the US$2.35 million previously received directly from a third-party purchaser, as announced on October 1, 2026, the Company has now received the total consideration of US$6.0 million.
Upon release of the escrowed funds, the Community Carbon Stream and the related agreements were terminated, the documents permitting the release of security granted in favor of the Company were released from escrow and discharged, and the parties granted mutual releases of all future obligations between them. The Company has transferred its remaining inventory of carbon credits under the Community Carbon Stream to the UPE Parties.
Under the terms of the termination agreement, the UPE Parties are responsible for payment of the share of proceeds payable to the Government of Tanzania, equal to 8% of the proceeds of the sales of Tanzanian cookstove carbon credits described above, including the credits sold by the Company.
Following completion of the transaction, the Company holds C$43.9 million and US$11.3 million in cash as at October 6, 2026. The Company currently has 49,059,053 common shares outstanding and no warrants. Carbon Streaming’s remaining portfolio consists of four carbon credit streaming and royalty investments, which are the Azuero Reforestation Stream, the Nalgonda Rice Farming Stream, Enfield Biochar Stream and Royalty and Waverly Biochar Stream and Royalty.
Marin Katusa, CEO, stated, “The Company will continue to focus our resources on maximizing value for shareholders from our existing portfolio and fully pursue the recovering of assets through ongoing litigation.
In line with this commitment to shareholders, we have filed a statement of claim against certain former executives, board members, consultants, and associated entities to hold the defendants accountable for actions that have caused financial harm to the Company, as outlined in the lawsuit. While certain defendants have filed counterclaims, we believe these to be without merit and have filed a defense to these counterclaims to vigorously defend our position.
The Company will continue to evaluate acquisitions, divestments, corporate transactions, financings, and other strategic partnership opportunities that will result in maximizing shareholder value.”
About Carbon Streaming
Carbon Streaming’s focus is to maximize value for its shareholders by optimizing its current portfolio of projects.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation, statements regarding maximizing its existing portfolio and cash resources; statements regarding the evaluation of strategic options; statements with respect to maximizing value for its shareholders; statements regarding the Company holding certain former executives, directors, consultants, and associated entities to account and the merits of the counterclaims from certain of the defendants and the Company’s defenses; statements regarding the payment by the UPE Parties of the share of proceeds payable to the Government of Tanzania under Tanzania’s carbon trading regulations; statements regarding the Company’s remaining portfolio of carbon credit streaming and royalty investments; and statements regarding the Company’s intention to evaluate acquisitions, divestments, corporate transactions, financings and other strategic partnership opportunities.
When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends”, “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking information. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: include, among other things: the UPE Parties may fail to pay the share of proceeds payable to the Government of Tanzania when due or at all, the Company’s remaining carbon credit streaming and royalty investments may not perform as expected; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and environmental, social and governance initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; the Company’s expectations and plans with respect to current litigation, arbitration and regulatory proceedings; reputational risk; concentration risk; inaccurate estimates of project value, which may impact the ability of the Company to execute on its growth and diversification strategy; limited operating history for the Company’s current strategy; dependence upon key management; impact of the corporate restructurings and the strategic initiatives advanced by the Company; impact of any strategic opportunities; the inability of the Company to optimize cash flows or sufficiently reduce operating expenses; risks arising from competition and future acquisition activities failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 30, 2026 filed on SEDAR+ at www.sedarplus.ca.
Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
TORONTO, Oct. 06, 2026 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCID: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce that it has completed the previously announced transaction with Community Carbon and UpEnergy Group (collectively, the “UPE Parties”), and has received the full sale amount of US$6.0 million in connection with the sale of credits, termination of the Community Carbon Stream and the transfer of the Company’s remaining portfolio of carbon credits.
On closing, the escrowed funds of US$3.65 million were released to the Company. Together with the US$2.35 million previously received directly from a third-party purchaser, as announced on October 1, 2026, the Company has now received the total consideration of US$6.0 million.
Upon release of the escrowed funds, the Community Carbon Stream and the related agreements were terminated, the documents permitting the release of security granted in favor of the Company were released from escrow and discharged, and the parties granted mutual releases of all future obligations between them. The Company has transferred its remaining inventory of carbon credits under the Community Carbon Stream to the UPE Parties.
Under the terms of the termination agreement, the UPE Parties are responsible for payment of the share of proceeds payable to the Government of Tanzania, equal to 8% of the proceeds of the sales of Tanzanian cookstove carbon credits described above, including the credits sold by the Company.
Following completion of the transaction, the Company holds C$43.9 million and US$11.3 million in cash as at October 6, 2026. The Company currently has 49,059,053 common shares outstanding and no warrants. Carbon Streaming’s remaining portfolio consists of four carbon credit streaming and royalty investments, which are the Azuero Reforestation Stream, the Nalgonda Rice Farming Stream, Enfield Biochar Stream and Royalty and Waverly Biochar Stream and Royalty.
Marin Katusa, CEO, stated, “The Company will continue to focus our resources on maximizing value for shareholders from our existing portfolio and fully pursue the recovering of assets through ongoing litigation.
In line with this commitment to shareholders, we have filed a statement of claim against certain former executives, board members, consultants, and associated entities to hold the defendants accountable for actions that have caused financial harm to the Company, as outlined in the lawsuit. While certain defendants have filed counterclaims, we believe these to be without merit and have filed a defense to these counterclaims to vigorously defend our position.
The Company will continue to evaluate acquisitions, divestments, corporate transactions, financings, and other strategic partnership opportunities that will result in maximizing shareholder value.”
About Carbon Streaming
Carbon Streaming’s focus is to maximize value for its shareholders by optimizing its current portfolio of projects.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation, statements regarding maximizing its existing portfolio and cash resources; statements regarding the evaluation of strategic options; statements with respect to maximizing value for its shareholders; statements regarding the Company holding certain former executives, directors, consultants, and associated entities to account and the merits of the counterclaims from certain of the defendants and the Company’s defenses; statements regarding the payment by the UPE Parties of the share of proceeds payable to the Government of Tanzania under Tanzania’s carbon trading regulations; statements regarding the Company’s remaining portfolio of carbon credit streaming and royalty investments; and statements regarding the Company’s intention to evaluate acquisitions, divestments, corporate transactions, financings and other strategic partnership opportunities.
When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends”, “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking information. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: include, among other things: the UPE Parties may fail to pay the share of proceeds payable to the Government of Tanzania when due or at all, the Company’s remaining carbon credit streaming and royalty investments may not perform as expected; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and environmental, social and governance initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; the Company’s expectations and plans with respect to current litigation, arbitration and regulatory proceedings; reputational risk; concentration risk; inaccurate estimates of project value, which may impact the ability of the Company to execute on its growth and diversification strategy; limited operating history for the Company’s current strategy; dependence upon key management; impact of the corporate restructurings and the strategic initiatives advanced by the Company; impact of any strategic opportunities; the inability of the Company to optimize cash flows or sufficiently reduce operating expenses; risks arising from competition and future acquisition activities failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 30, 2026 filed on SEDAR+ at www.sedarplus.ca.
Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
DELSON, Quebec, Oct. 06, 2026 (GLOBE NEWSWIRE) — Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced today its financial results for the third quarter ended August 31, 2026.
For the three months ended August 31, 2026, Goodfellow reported net earnings of $2.3 million or $0.27 per share compared to net earnings of $3.7 million or $0.45 per share a year ago, while consolidated sales were $145.7 million compared to $141.9 million last year.
For the nine months ended August 31, 2026, the Company reported net earnings of $1.2 million or $0.14 per share compared to net earnings of $3.9 million or $0.47 per share a year ago, while consolidated sales were $397.1 million compared to $406.0 million last year.
At the close of the third quarter of 2026, Goodfellow’s performance reflected mixed conditions across Canada’s lumber and building materials sector. Uncertainty surrounding trade policies weighed significantly on residential construction activity and consumer confidence in certain regions, while demand remained relatively stable in select commercial, industrial and infrastructure-related markets.
The Board of Directors declared an eligible dividend of $0.10 per share payable on November 3, 2026 to shareholders of record at the close of business on October 20, 2026. This dividend is designated as an eligible dividend under the Income Tax Act (Canada). The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.
About Goodfellow
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. With a distribution footprint from coast-to-coast in Canada and in the Northeastern U.S., Goodfellow effectively serves commercial and residential sectors through lumber yard retailer networks, manufacturers, industrial and infrastructure project partners, and floor covering specialists. Goodfellow also leverages its value-added product capabilities to serve lumber markets internationally. Goodfellow Inc. is a publicly traded company, and its shares are listed on the Toronto Stock Exchange under the symbol “GDL”.
GOODFELLOW INC.
Consolidated Statements of Comprehensive Income
For the three and nine months ended August 31, 2026 and 2025
(in thousands of dollars, except per share amounts) Unaudited
For the three months ended
For the nine months ended
August 31 2026
August 31 2025 (Restated)1
August 31 2026
August 31 2025 (Restated)1
$
$
$
$
Sales
145,719
141,910
397,134
406,030
Expenses
Cost of goods sold
117,759
112,218
322,679
330,183
Selling, administrative and general expenses
23,537
23,251
69,477
67,130
Net financial costs
1,299
1,242
3,354
3,240
142,595
136,711
395,510
400,553
Earnings before income taxes
3,124
5,199
1,624
5,477
Income taxes
874
1,456
454
1,534
Total comprehensive income
2,250
3,743
1,170
3,943
Net earnings
-per share –Basic
0.27
0.45
0.14
0.47
-per share –Diluted
0.27
0.44
0.14
0.47
1 In the fourth quarter of 2025, the Company corrected an error in presentation for certain production-related expenses that were recognized as selling, administrative and general expenses instead of cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for the second quarter 2025 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for the three months ended August 31, 2025 of $5,528 and for the nine months ended August 31, 2025 of $17,589, with a corresponding increase to cost of goods sold. This presentation adjustment has no impact on earnings before income taxes or net earnings. The presentation adjustment also had no impact on the consolidated statement of financial position, statement of cash flows and statement of changes in Shareholders’ Equity.
GOODFELLOW INC.
Consolidated Statements of Financial Position
(in thousands of dollars)
Unaudited
As at
As at
As at
August 31 2026
November 30 2025
August 31 2025
$
$
$
Assets
Current Assets
Cash
4,325
3,767
4,098
Trade and other receivables
66,870
55,471
64,632
Income taxes receivable
2,935
1,360
5,003
Inventories
164,128
144,484
148,403
Prepaid expenses
5,357
3,168
1,640
Total Current Assets
243,615
208,250
223,776
Non-Current Assets
Property, plant and equipment
43,048
42,625
42,545
Intangible assets
56
381
483
Right-of-use assets
19,775
19,304
20,356
Defined benefit plan asset
21,156
21,739
21,385
Deferred income taxes
744
744
–
Other assets
1,958
1,875
1,885
Total Non-Current Assets
86,737
86,668
86,654
Total Assets
330,352
294,918
310,430
Liabilities
Current Liabilities
Bank indebtedness
39,856
17,564
22,000
Trade and other payables
55,604
42,629
50,234
Provision
587
624
804
Current portion of lease liabilities
6,863
6,485
6,562
Total Current Liabilities
102,910
67,302
79,600
Non-Current Liabilities
Lease liabilities
14,798
14,551
15,447
Deferred income taxes
5,436
5,436
8,303
Total Non-Current Liabilities
20,234
19,987
23,750
Total Liabilities
123,144
87,289
103,350
Shareholders’ Equity
Share capital
9,123
9,184
9,214
Retained earnings
198,085
198,445
197,866
207,208
207,629
207,080
Total Liabilities and Shareholders’ Equity
330,352
294,918
310,430
GOODFELLOW INC.
Consolidated Statements of Cash Flows
For the three and nine months ended August 31, 2026 and 2025
(in thousands of dollars) Unaudited
For the three months ended
For the nine months ended
August 31 2026
August 31 2025
August 31 2026
August 31 2025
$
$
$
$
Operating Activities
Net earnings
2,250
3,743
1,170
3,943
Adjustments for:
Depreciation and amortization of:
Property, plant and equipment
1,263
1,308
3,708
3,857
Intangible assets
155
147
457
438
Right-of-use assets
1,573
1,597
4,564
4,607
Loss (gain) on disposal of property, plant and equipment
31
(3)
21
(12)
Provision
(15)
16
(37)
(126)
Income taxes
874
1,456
454
1,534
Interest expense
655
610
1,647
1,442
Interest on lease liabilities
358
362
1,025
1,068
Funding in excess of pension plan expense
174
169
583
540
Share-based compensation
181
89
545
89
Other
4
(4)
(27)
(185)
7,503
9,490
14,110
17,195
Changes in non-cash working capital items
27,972
30,034
(20,345)
(21,600)
Interest paid
(1,015)
(979)
(2,821)
(2,447)
Income taxes paid
(1,219)
107
(2,029)
97
25,738
29,162
(25,195)
(23,950)
Net Cash Flows from Operating Activities
33,241
38,652
(11,085)
(6,755)
Financing Activities
Net increase in bank loans
1,000
–
3,000
2,000
Net (decrease) increase in CORRA loans
(30,000)
(35,000)
18,000
20,000
Payment of lease liabilities
(1,509)
(1,488)
(4,454)
(4,307)
Redemption of shares
(176)
(216)
(650)
(1,055)
Dividends paid
–
–
(1,249)
(2,105)
Net Cash Flows from Financing Activities
(30,685)
(36,704)
14,647
14,533
Investing Activities
Acquisition of property, plant and equipment
(1,382)
(1,009)
(4,162)
(2,519)
Acquisition of intangible assets
(28)
(15)
(132)
(25)
Proceeds on disposal of property, plant and equipment
–
3
10
12
Other assets
(39)
9
(12)
(549)
Net Cash Flows from Investing Activities
(1,449)
(1,012)
(4,296)
(3,081)
Net increase (decrease) in cash
1,107
936
(734)
4,697
Cash (bank indebtedness), beginning of period
1,362
3,162
3,203
(599)
Cash (bank indebtedness), end of period
2,469
4,098
2,469
4,098
Cash position is comprised of:
Cash
4,325
4,098
4,325
4,098
Bank overdraft
(1,856)
–
(1,856)
–
2,469
4,098
2,469
4,098
GOODFELLOW INC.
Consolidated Statements of Changes in Shareholders’ Equity
For the nine months ended August 31, 2026 and 2025
DELSON, Quebec, Oct. 06, 2026 (GLOBE NEWSWIRE) — Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced today its financial results for the third quarter ended August 31, 2026.
For the three months ended August 31, 2026, Goodfellow reported net earnings of $2.3 million or $0.27 per share compared to net earnings of $3.7 million or $0.45 per share a year ago, while consolidated sales were $145.7 million compared to $141.9 million last year.
For the nine months ended August 31, 2026, the Company reported net earnings of $1.2 million or $0.14 per share compared to net earnings of $3.9 million or $0.47 per share a year ago, while consolidated sales were $397.1 million compared to $406.0 million last year.
At the close of the third quarter of 2026, Goodfellow’s performance reflected mixed conditions across Canada’s lumber and building materials sector. Uncertainty surrounding trade policies weighed significantly on residential construction activity and consumer confidence in certain regions, while demand remained relatively stable in select commercial, industrial and infrastructure-related markets.
The Board of Directors declared an eligible dividend of $0.10 per share payable on November 3, 2026 to shareholders of record at the close of business on October 20, 2026. This dividend is designated as an eligible dividend under the Income Tax Act (Canada). The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.
About Goodfellow
Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. With a distribution footprint from coast-to-coast in Canada and in the Northeastern U.S., Goodfellow effectively serves commercial and residential sectors through lumber yard retailer networks, manufacturers, industrial and infrastructure project partners, and floor covering specialists. Goodfellow also leverages its value-added product capabilities to serve lumber markets internationally. Goodfellow Inc. is a publicly traded company, and its shares are listed on the Toronto Stock Exchange under the symbol “GDL”.
GOODFELLOW INC.
Consolidated Statements of Comprehensive Income
For the three and nine months ended August 31, 2026 and 2025
(in thousands of dollars, except per share amounts) Unaudited
For the three months ended
For the nine months ended
August 31 2026
August 31 2025 (Restated)1
August 31 2026
August 31 2025 (Restated)1
$
$
$
$
Sales
145,719
141,910
397,134
406,030
Expenses
Cost of goods sold
117,759
112,218
322,679
330,183
Selling, administrative and general expenses
23,537
23,251
69,477
67,130
Net financial costs
1,299
1,242
3,354
3,240
142,595
136,711
395,510
400,553
Earnings before income taxes
3,124
5,199
1,624
5,477
Income taxes
874
1,456
454
1,534
Total comprehensive income
2,250
3,743
1,170
3,943
Net earnings
-per share –Basic
0.27
0.45
0.14
0.47
-per share –Diluted
0.27
0.44
0.14
0.47
1 In the fourth quarter of 2025, the Company corrected an error in presentation for certain production-related expenses that were recognized as selling, administrative and general expenses instead of cost of goods sold (with no impact to any associated subtotals or totals). The comparative financial information for the second quarter 2025 has been restated for this presentation adjustment. The impact was a decrease to selling, administrative and general expenses for the three months ended August 31, 2025 of $5,528 and for the nine months ended August 31, 2025 of $17,589, with a corresponding increase to cost of goods sold. This presentation adjustment has no impact on earnings before income taxes or net earnings. The presentation adjustment also had no impact on the consolidated statement of financial position, statement of cash flows and statement of changes in Shareholders’ Equity.
GOODFELLOW INC.
Consolidated Statements of Financial Position
(in thousands of dollars)
Unaudited
As at
As at
As at
August 31 2026
November 30 2025
August 31 2025
$
$
$
Assets
Current Assets
Cash
4,325
3,767
4,098
Trade and other receivables
66,870
55,471
64,632
Income taxes receivable
2,935
1,360
5,003
Inventories
164,128
144,484
148,403
Prepaid expenses
5,357
3,168
1,640
Total Current Assets
243,615
208,250
223,776
Non-Current Assets
Property, plant and equipment
43,048
42,625
42,545
Intangible assets
56
381
483
Right-of-use assets
19,775
19,304
20,356
Defined benefit plan asset
21,156
21,739
21,385
Deferred income taxes
744
744
–
Other assets
1,958
1,875
1,885
Total Non-Current Assets
86,737
86,668
86,654
Total Assets
330,352
294,918
310,430
Liabilities
Current Liabilities
Bank indebtedness
39,856
17,564
22,000
Trade and other payables
55,604
42,629
50,234
Provision
587
624
804
Current portion of lease liabilities
6,863
6,485
6,562
Total Current Liabilities
102,910
67,302
79,600
Non-Current Liabilities
Lease liabilities
14,798
14,551
15,447
Deferred income taxes
5,436
5,436
8,303
Total Non-Current Liabilities
20,234
19,987
23,750
Total Liabilities
123,144
87,289
103,350
Shareholders’ Equity
Share capital
9,123
9,184
9,214
Retained earnings
198,085
198,445
197,866
207,208
207,629
207,080
Total Liabilities and Shareholders’ Equity
330,352
294,918
310,430
GOODFELLOW INC.
Consolidated Statements of Cash Flows
For the three and nine months ended August 31, 2026 and 2025
(in thousands of dollars) Unaudited
For the three months ended
For the nine months ended
August 31 2026
August 31 2025
August 31 2026
August 31 2025
$
$
$
$
Operating Activities
Net earnings
2,250
3,743
1,170
3,943
Adjustments for:
Depreciation and amortization of:
Property, plant and equipment
1,263
1,308
3,708
3,857
Intangible assets
155
147
457
438
Right-of-use assets
1,573
1,597
4,564
4,607
Loss (gain) on disposal of property, plant and equipment
31
(3)
21
(12)
Provision
(15)
16
(37)
(126)
Income taxes
874
1,456
454
1,534
Interest expense
655
610
1,647
1,442
Interest on lease liabilities
358
362
1,025
1,068
Funding in excess of pension plan expense
174
169
583
540
Share-based compensation
181
89
545
89
Other
4
(4)
(27)
(185)
7,503
9,490
14,110
17,195
Changes in non-cash working capital items
27,972
30,034
(20,345)
(21,600)
Interest paid
(1,015)
(979)
(2,821)
(2,447)
Income taxes paid
(1,219)
107
(2,029)
97
25,738
29,162
(25,195)
(23,950)
Net Cash Flows from Operating Activities
33,241
38,652
(11,085)
(6,755)
Financing Activities
Net increase in bank loans
1,000
–
3,000
2,000
Net (decrease) increase in CORRA loans
(30,000)
(35,000)
18,000
20,000
Payment of lease liabilities
(1,509)
(1,488)
(4,454)
(4,307)
Redemption of shares
(176)
(216)
(650)
(1,055)
Dividends paid
–
–
(1,249)
(2,105)
Net Cash Flows from Financing Activities
(30,685)
(36,704)
14,647
14,533
Investing Activities
Acquisition of property, plant and equipment
(1,382)
(1,009)
(4,162)
(2,519)
Acquisition of intangible assets
(28)
(15)
(132)
(25)
Proceeds on disposal of property, plant and equipment
–
3
10
12
Other assets
(39)
9
(12)
(549)
Net Cash Flows from Investing Activities
(1,449)
(1,012)
(4,296)
(3,081)
Net increase (decrease) in cash
1,107
936
(734)
4,697
Cash (bank indebtedness), beginning of period
1,362
3,162
3,203
(599)
Cash (bank indebtedness), end of period
2,469
4,098
2,469
4,098
Cash position is comprised of:
Cash
4,325
4,098
4,325
4,098
Bank overdraft
(1,856)
–
(1,856)
–
2,469
4,098
2,469
4,098
GOODFELLOW INC.
Consolidated Statements of Changes in Shareholders’ Equity
For the nine months ended August 31, 2026 and 2025
