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TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) — Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or “Halcones”) is pleased to announce the closing of the second and final tranche (the “Second Tranche”) of its previously announced non-brokered private placement of units (the “Offering”).

Closing of Final Tranche of Private Placement

The Company has closed the Second Tranche of the Offering, issuing 9,000,000 units of the Company (the “Units”) at a price of $0.05 per Unit for gross proceeds of $450,000. Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Share at an exercise price of $0.05 for a period of 24 months from the date of issuance.

Together with the first tranche of the Offering, which closed on October 15, 2026 (the “First Tranche”), the Company has issued an aggregate of 20,000,000 Units under the Offering for aggregate gross proceeds of $1,000,000.

In connection with the Second Tranche, the Company paid cash finder’s fees of $6,300 and issued 126,000 non-transferable finder’s warrants (the “Finder Warrants”). Each Finder Warrant entitles the holder to acquire one Share at an exercise price of $0.05 for a period of 24 months from the date of issuance. In aggregate, the Company paid cash finder’s fees of $39,300 and issued 786,000 Finder Warrants in connection with the Offering.

As disclosed in the Company’s news release dated October 8, 2026, the Company plans to use the aggregate net proceeds of the Offering to obtain the surface rights to the Polaris project, to continue exploration work on the Polaris project, and for general corporate working capital purposes.

All securities issued in connection with the Second Tranche are subject to a statutory hold period of four months and one day expiring on March 4, 2027. The Offering remains subject to the final approval of the TSX Venture Exchange.

Certain directors and officers of the Company (the “Insiders”) acquired an aggregate of 1,700,000 Units in the Second Tranche for gross proceeds of $85,000. The participation of the Insiders constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to the Insiders nor the consideration paid by the Insiders exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the closing of the Second Tranche, as the details of the Insiders’ participation were not settled until shortly before closing and the Company wished to complete the Offering in a timely manner.

Write-off of Accrued Salaries and Fees

The Company also announces that certain members of management, directors and consultants of the Company have agreed to write off an aggregate of approximately $1,434,860 of salaries, fees and other amounts owed to them by the Company. The write-off significantly reduces the Company’s liabilities and improves its working capital position.

About Halcones

Halcones Precious Metals Corp. is focused on exploring for and developing gold-silver projects in the Maricunga Belt, Chile, the premier gold mining district in South America. The Company has a team with a strong background of exploration success in the region.

For further information, please contact:

Vern Arseneault
Chief Executive Officer

Vincent Chen, CPA
Investor Relations

Tel: 647-276-0540
info@halconespreciousmetals.com
www.halconespreciousmetals.com

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Offering, the receipt of final approval of the TSX Venture Exchange, the intended use of proceeds of the Offering and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the Company’s ability to obtain the requisite regulatory approvals for the Offering; general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

— Strong U.S. launch momentum for IMCIVREE^® (setmelanotide) for acquired hypothalamic obesity (HO) continues with more than 700 patient start forms as of September 30, 2026 —

— Third quarter 2026 net product revenue from global sales of IMCIVREE of $92.1 million, an increase of 29% from the prior quarter —

— Commercial launch of IMCIVREE in Japan for patients with acquired HO underway —

— Bivamelagon to advance into pivotal development in Prader-Willi syndrome —

— Rhythm and LG Chem amend bivamelagon licensing agreement —

— Five-year term loan facility secured, providing access to up to $750 million —

— Management to host conference call today at 8:00 a.m. ET —

BOSTON, Nov. 03, 2026 (GLOBE NEWSWIRE) — Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a global commercial-stage biopharmaceutical company focused on transforming the lives of patients living with rare neuroendocrine diseases, today reported financial results and provided a business update for the third quarter ended September 30, 2026.

“Rhythm continues to make strong progress in bringing IMCIVREE^® (setmelanotide) to patients with acquired hypothalamic obesity (HO), highlighted by continued commercial momentum in the United States. Our commercial launch in Japan represents another important milestone in a market with the potential to become our second largest,” said David Meeker, M.D., Chairman, Chief Executive Officer and President of Rhythm Pharmaceuticals. “The strength of the U.S. launch through two quarters reinforces both the significant unmet need in acquired HO and our opportunity to transform care for patients living with this serious disease.”

Dr. Meeker added, “We are excited about advancing our next-generation MC4R agonists, beginning with bivamelagon. Strong clinical results have reinforced our confidence in its potential across multiple indications, and we look forward to initiating pivotal trials in acquired HO and Prader-Willi syndrome. Our restructured bivamelagon royalty agreement with LG Chem reflects our strong belief in the future potential of the portfolio. With a strong global foundation built on IMCIVREE, bivamelagon entering Phase 3 development and further development planned for RM-718, there is a clear and compelling path to long-term growth and value creation for Rhythm.”

Recent Business and Development Highlights

• Today, the Company announced it has received more than 700 patient start forms for IMCIVREE for acquired HO from more than 500 prescribers as of September 30, 2026, following approval by the U.S. Food and Drug Administration (FDA) on March 19, 2026;
• Revenue from global sales of IMCIVREE was $92.1 million for the third quarter of 2026, an increase of 29% on a sequential basis from the second quarter of 2026. The number of patients on reimbursed therapy globally increased by 20% as compared to the second quarter of 2026.
  • U.S.: Revenue of $67.5 million, or 73% of product revenue, was generated in the United States in the third quarter of 2026, an increase of $16.5 million or 32% compared to the second quarter of 2026. The sequential quarter-over- quarter growth in U.S. revenue was driven primarily by increased patient demand for IMCIVREE in acquired HO, as well as continued growth in demand in Bardet-Biedl syndrome (BBS).
  • Ex-U.S.: Revenue of $24.7 million, or 27% of product revenue, was generated outside the United States, a sequential increase of $4.4 million or 22% compared to the second quarter of 2026. The number of reimbursed patients on IMCIVREE continued to increase in the third quarter of 2026;
• Today, the Company announced that five presentations have been accepted for presentation at ObesityWeek^® 2026, taking place November 14-17, 2026. Presentations include:
  • Definition and Diagnostic Criteria for Acquired Hypothalamic Obesity: Global Expert Consensus;
  • Patient-Reported Outcomes From the TRANSCEND Trial in Acquired Hypothalamic Obesity;
  • Efficacy and Safety of Setmelanotide in Acquired Hypothalamic Obesity: Final Phase 3 Trial Results;
  • Two-Year Phase 3 Trial Results of Setmelanotide in Patients With Acquired Hypothalamic Obesity; and
  • Weight Category Improvement Following Setmelanotide in Patients With Acquired Hypothalamic Obesity.
• On November 2, 2026, the Company announced an amendment to its exclusive license agreement with LG Chem for bivamelagon. Under the terms of the amendment, Rhythm has agreed to pay LG Chem $350 million in fixed payments over four years in order to reduce the low-to-mid single digit royalty in the original agreement to 1% royalty on net product revenue generated by Rhythm’s MC4R portfolio;
• On November 2, 2026, the Company entered into a five-year term loan facility led by KKR’s HealthCare Royalty (“Healthcare Royalty”) in partnership with Blackstone Life Sciences, providing access to up to $750 million of capital. In connection with entry into this loan facility the Company entered into an amended and restated Revenue Interest Financing Agreement with Health Care Royalty;
• On October 13, 2026, the Company announced the commercial launch of IMCIVREE in Japan for patients with acquired HO;
• On September 22, 2026, the Company announced Health Canada approval of IMCIVREE for weight management in adult and pediatric patients 4 years of age and older with acquired HO;
• On September 10, 2026, the Company announced the presentation of six abstracts, including three oral presentations and three poster presentations, at the 64th Annual European Society for Paediatric Endocrinology (ESPE) Meeting. Presentations included:
  • Real-world data demonstrating reductions in BMI and hunger for up to 18 months in paediatric patients with acquired HO treated with setmelanotide through France’s early-access program;
  • A Phase 3 post-hoc analysis demonstrating improvements across multiple cardiometabolic risk indices with setmelanotide in paediatric patients with acquired HO;
  • Long-term weight outcomes with setmelanotide in paediatric patients with BBS, POMC deficiency and LEPR deficiency; and
  • Additional analyses evaluating metabolic syndrome severity and risk in acquired HO and clinical characteristics associated with BBS.
• On August 24, 2026, the Company announced that Japan’s Ministry of Health, Labour and Welfare (MHLW) approved IMCIVREE for patients with acquired HO in Japan;
• On August 17, 2026, the Company announced the appointment of Manher (“AJ”) Joshi, M.D., as Chief Medical Officer;
• On August 11, 2026, the Company announced that IMCIVREE received expanded Marketing Authorization in the United Kingdom for the treatment of obesity and control of hunger in patients with acquired HO due to hypothalamic injury or impairment;

Anticipated Upcoming Milestones

Rhythm expects to achieve the following near-term milestones:

• Complete enrollment in the Phase 1/2, Part D trial evaluating RM-718 in PWS in the second half of 2026;
• Initiate a pivotal Phase 3 trial evaluating bivamelagon in acquired HO by year-end 2026;
• Complete enrollment in the setmelanotide substudy in congenital HO in 2027;
• Begin country-level launches of IMCIVREE for acquired HO in Europe beginning with Germany in 2027; and
• Initiate 6-month hyperphagia study to evaluate bivamelagon in PWS in 2027, pending alignment with the FDA.

Third Quarter 2026 Financial Results 

Cash Position: As of September 30, 2026, cash, cash equivalents and short-term investments were approximately $320.9 million, as compared to $388.9 million as of December 31, 2025. Cash, cash equivalents, and short-term investments as of September 30 do not include the $250 million initial draw on the term loan facility or the $70 million payment due to LG Chem under the terms of the amendment to the licensing agreement for bivamelagon. 

Revenue: Net product revenues from global sales of IMCIVREE were $92.1 million for the third quarter of 2026, as compared to $51.3 million for the third quarter of 2025.

R&D Expenses: R&D expenses were $52.5 million in the third quarter of 2026, as compared to $46.0 million in the third quarter of 2025. The year-over-year increase was primarily due to an increase in costs in chemistry, manufacturing, and controls (CMC) activity and clinical trial costs, as well as personnel costs, and costs associated with our achievement of a development milestone for our program focused on developing therapies for congenital hyperinsulinism (CHI).

SG&A Expenses: SG&A expenses were $66.8 million for the third quarter of 2026, as compared to $52.4 million for the third quarter of 2025. The year-over-year increase was primarily due to increased personnel costs, including stock-based compensation, related to expanded business operations.

Other income (expense), net: Other expense, net was $(1.5) million for the third quarter of 2026, as compared to other expense, net of $(0.1) million for the third quarter of 2025. The year-over-year increase in other expense, net was primarily due to less interest income earned in the third quarter of 2026 based on decreasing average cash and short-term investments.

Net Loss attributable to common stockholders: Net loss attributable to common stockholders was $(42.4) million for the third quarter of 2026, or a net loss per basic and diluted share of $(0.61), as compared to a net loss attributable to common stockholders of $(54.3) million for the third quarter of 2025, or a net loss per basic and diluted share of $(0.82). 

Year to Date 2026 Financial Results:

Revenue: Net product revenues relating to sales of IMCIVREE were $223.5 million for the nine months ended September 30, 2026, as compared to $137.5 million for the nine months ended September 30, 2025.

R&D Expenses: R&D expenses were $137.6 million for the nine months ended September 30, 2026, as compared to $125.3 million for the nine months ended September 30, 2025. The increase was primarily due to increases in personnel costs partially offset by decreases in chemistry, manufacturing, and controls (CMC) costs for drug formulation and autoinjector development for RM-718 and a decrease in clinical trial costs.

SG&A Expenses: SG&A expenses were $197.8 million for the nine months ended September 30, 2026, as compared to $137.5 million for the nine months ended September 30, 2025. The increase was primarily due to higher personnel costs, marketing and promotion costs related to the U.S. and Japanese launches of IMCIVREE for acquired HO, and market access and commercial service costs related to our expanding international business operations.

Other income (expense), net: Other income (expense), net was $(4.5) million for the nine months ended September 30, 2026, as compared to $(3.6) million for the nine months ended September 30, 2025. The increase was primarily due to a change in fair value of the embedded derivative of our deferred royalty obligation and an increase in net unrealized loss on foreign currency, and a decrease in interest income earned.

Financial Guidance: For the year ending December 31, 2026, Rhythm anticipates approximately $360 million to $380 million in Non-GAAP Operating Expenses. Non-GAAP Operating Expenses are derived from: 

• GAAP total operating expenses, inclusive of: 
  • R&D expenses of approximately $165 million to $175 million; 
  • SG&A expenses of approximately $195 million to $205 million; and 
  • Excluding stock-based compensation. 

Non-GAAP Operating Expenses is defined as GAAP operating expenses excluding stock-based compensation and fixed consideration related to in-licensing and milestone payments (see below under “Non-GAAP Financial Measures” for more details). 

Based on its current operating plans, Rhythm expects that its cash, cash equivalents and short-term investments as of September 30, 2026 will be sufficient to fund the Company’s planned operations for at least 24 months.

Conference Call Information
Rhythm Pharmaceuticals will host a live conference call and webcast at 8:00 a.m. ET today to review its third quarter 2026 financial results and recent business activities. Participants may register for the conference call here. It is recommended that participants join the call ten minutes prior to the scheduled start.

A webcast of the call will also be available under “Events and Presentations” in the Investor Relations section of the Rhythm Pharmaceuticals website at https://ir.rhythmtx.com/. The archived webcast will be available on Rhythm Pharmaceuticals’ website approximately two hours after the conference call and will be available for 30 days following the call.

About Rhythm Pharmaceuticals
Rhythm is a commercial-stage biopharmaceutical company committed to transforming the lives of patients and their families living with rare neuroendocrine diseases. Rhythm’s lead asset, IMCIVREE^® (setmelanotide), an MC4R agonist designed to treat hyperphagia and severe obesity, is approved by the U.S. Food and Drug Administration (FDA) to reduce excess body weight and maintain weight reduction long term in adult and pediatric patients aged 4 years and older with acquired hypothalamic obesity, adult and pediatric patients 2 years of age and older with syndromic or monogenic obesity due to Bardet-Biedl syndrome (BBS) or genetically confirmed pro-opiomelanocortin (POMC), including proprotein convertase subtilisin/kexin type 1 (PCSK1), deficiency or leptin receptor (LEPR) deficiency. Both the European Commission (EC) and the UK’s Medicines & Healthcare Products Regulatory Agency (MHRA) have authorized setmelanotide for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or genetically confirmed loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 2 years of age and above. The European Commission (EC) has authorized setmelanotide for the treatment of obesity and control of hunger in patients 4 years of age and above with acquired hypothalamic obesity. Additionally, Rhythm is advancing a broad clinical development program for setmelanotide in other rare diseases, as well as investigational MC4R agonists bivamelagon and RM-718, and a preclinical suite of small molecules for the treatment of congenital hyperinsulinism. Rhythm’s headquarters is in Boston, MA.

Setmelanotide Indication
In the United States, setmelanotide is indicated to reduce excess body weight and maintain weight reduction long term in adult and pediatric patients aged 4 years and older with acquired HO, and in adult and pediatric patients aged 2 years and older with syndromic or monogenic obesity due to Bardet-Biedl syndrome (BBS) or Pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1), or leptin receptor (LEPR) deficiency as determined by an FDA-approved test demonstrating variants in POMC, PCSK1, or LEPR genes that are interpreted as pathogenic, likely pathogenic, or of uncertain significance (VUS).

In the European Union and the United Kingdom, setmelanotide is indicated for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 2 years of age and above. In the European Union and the United Kingdom, setmelanotide should be prescribed and supervised by a physician with expertise in obesity with underlying genetic etiology.

Limitations of Use

Setmelanotide is not indicated for the treatment of patients with the following conditions as setmelanotide would not be expected to be effective:

• Obesity due to suspected POMC, PCSK1, or LEPR deficiency with POMC, PCSK1, or LEPR variants classified as benign or likely benign
• Other types of obesity not related to BBS or POMC, PCSK1, or LEPR deficiency, including obesity associated with other genetic syndromes and general (polygenic) obesity

Contraindication

Prior serious hypersensitivity to setmelanotide or any of the excipients in IMCIVREE. Serious hypersensitivity reactions (e.g., anaphylaxis) have been reported.

WARNINGS AND PRECAUTIONS

Disturbance in Sexual Arousal: Spontaneous penile erections in males and sexual adverse reactions in females have occurred. Inform patients that these events may occur and instruct patients who have an erection lasting longer than 4 hours to seek emergency medical attention.

Depression and Suicidal Ideation: Depression, suicidal ideation and depressed mood have occurred. Monitor patients for new onset or worsening depression or suicidal thoughts or behaviors. Consider discontinuing IMCIVREE if patients experience suicidal thoughts or behaviors, or clinically significant or persistent depression symptoms occur.

Hypersensitivity Reactions: Serious hypersensitivity reactions (e.g., anaphylaxis) have been reported. If suspected, advise patients to promptly seek medical attention and discontinue IMCIVREE.

Skin Hyperpigmentation, Darkening of Pre-existing Nevi, and Development of New Melanocytic Nevi: Generalized or focal increases in skin pigmentation, darkening of pre-existing nevi, development of new melanocytic nevi and increase in size of existing melanocytic nevi have occurred. Perform a full body skin examination prior to initiation and periodically during treatment to monitor pre-existing and new pigmented lesions.

Risk of Serious Adverse Reactions Due to Benzyl Alcohol Preservative in Neonates and Low Birth Weight Infants: IMCIVREE is not approved for use in neonates or infants. Serious and fatal adverse reactions including “gasping syndrome” can occur in neonates and low birth weight infants treated with benzyl alcohol preserved drugs.

ADVERSE REACTIONS

Most common adverse reactions (incidence ≥20%) included skin hyperpigmentation, injection site reactions, nausea, headache, diarrhea, abdominal pain, vomiting, depression, and spontaneous penile erection.

USE IN SPECIFIC POPULATIONS

Treatment with IMCIVREE is not recommended when breastfeeding. Discontinue IMCIVREE when pregnancy is recognized unless the benefits of therapy outweigh the potential risks to the fetus.

To report SUSPECTED ADVERSE REACTIONS, contact Rhythm Pharmaceuticals at +1 (833) 789-6337 or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. See section 4.8 of the Summary of Product Characteristics for information on reporting suspected adverse reactions in Europe.

Please see the full Prescribing Information for additional Important Safety Information.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the safety, efficacy, potential benefits of, and clinical design or progress, including enrollment and initiation of our clinical trials and studies, of any of our products or product candidates at any dosage or in any indication, including, setmelanotide, bivamelagon, and RM-718; the use of setmelanotide in patients with acquired HO and the success of our commercial launch; the timing of our country-level launches of IMCIVREE in Europe; our expectations surrounding potential regulatory submissions, progress, or approvals and timing thereof for any of our product candidates; the commercial growth of IMCIVREE; the estimated market size and addressable population for our drug products, including setmelanotide for the treatment of acquired HO and the potential for the market in Japan; the future announcement of data from our ongoing clinical trials, and ongoing enrollment in our clinical trials; existing or future collaboration agreements; the Company’s business strategy and plans; our anticipated financial performance and financial position for any period of time, including our estimated Non-GAAP Operating Expenses for the year ending December 31, 2026; and the sufficiency of our cash, cash equivalents and short-term investments to fund our operations for at least 24 months; and the timing of any of the foregoing. Statements using words such as “expect”, “anticipate”, “believe”, “may”, “will” and similar terms are also forward-looking statements. Such statements are subject to numerous risks and uncertainties, including, but not limited to, our ability to enroll patients in clinical trials, the design and outcome of clinical trials, the impact of competition, the ability to achieve or obtain necessary regulatory approvals, risks associated with data analysis and reporting, unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, risks associated with the laws and regulations governing our international operations and the costs of any related compliance programs, our ability to successfully commercialize setmelanotide, our liquidity and expenses, our ability to retain our key employees and consultants, and to attract, retain and motivate qualified personnel, and general economic conditions, and the other important factors, including those discussed under the caption “Risk Factors” in Rhythm’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 and our other filings with the Securities and Exchange Commission. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release, whether as a result of new information, future developments or otherwise.

Non-GAAP Financial Measures
This press release includes Non-GAAP Operating Expenses, a supplemental measure of our performance that is not required by, or presented in accordance with, U.S. GAAP and should not be considered as an alternative to operating expenses or any other performance measure derived in accordance with GAAP.

We define Non-GAAP Operating Expenses as GAAP operating expenses excluding stock-based compensation and fixed consideration related to in-licensing and milestone payments.

We caution investors that amounts presented in accordance with our definition of Non-GAAP Operating Expenses may not be comparable to similar measures disclosed by our competitors because not all companies and analysts calculate this non-GAAP financial measure in the same manner. We present this non-GAAP financial measure because we consider it to be an important supplemental measure of our performance and believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in our industry. Management believes that investors’ understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing our ongoing results of operations.

Management uses this non-GAAP financial measure for planning purposes, including the preparation of our internal annual operating budget and financial projections; to evaluate the performance and effectiveness of our operational strategies; and to evaluate our capacity to expand our business. This non-GAAP financial measure has limitations as an analytical tool, and should not be considered in isolation, or as an alternative to, or a substitute for operating expenses or other financial statement data presented in accordance with GAAP in our consolidated financial statements.

Rhythm has not provided a quantitative reconciliation of forecasted Non-GAAP Operating Expenses to forecasted GAAP operating expenses because the Company is unable, without making unreasonable efforts, to calculate the reconciling item, stock-based compensation expenses, with confidence. This item, which could materially affect the computation of forward-looking GAAP operating expenses, is inherently uncertain and depends on various factors, some of which are outside of Rhythm’s control.

Corporate Contact:
David Connolly
Head of Investor Relations and Corporate Communications
Rhythm Pharmaceuticals, Inc.
857-264-4280
dconnolly@rhythmtx.com  

Rhythm Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
(Unaudited)
	Three months ended September 30,							Nine months ended September 30,
		2026				2025			2026				2025
Revenues:
Product revenue, net	$	92,128			$	51,298		$	223,494			$	137,518
License revenue		—				—			—				(5,014	)
Total revenues		92,128				51,298			223,494				132,504
Costs and expenses:
Cost of sales		12,166				5,499			28,254				14,690
Research and development		52,480				46,027			137,634				125,307
Selling, general, and administrative		66,752				52,425			197,793				137,460
Total costs and expenses		131,398				103,951			363,681				277,457
Loss from operations		(39,270	)			(52,653	)		(140,187	)			(144,953	)
Other income (expense):
Other income (expense), net		(157	)			274			(840	)			1,207
Interest expense		(4,495	)			(4,742	)		(13,618	)			(15,968	)
Interest income		3,163				4,328			9,937				11,208
Total other income (expense), net		(1489	)			(140	)		(4,521	)			(3,553	)
Loss before income taxes		(40,759	)			(52,793	)		(144,708	)			(148,506	)
Provision (benefit) for income taxes		610				111			1,598				528
Net loss	$	(41,369	)		$	(52,904	)	$	(146,306	)		$	(149,034	)
Accrued dividends on convertible preferred stock		(984	)			(1,375	)		(3,153	)			(4,046	)
Net loss attributable to common stockholders	$	(42,353	)		$	(54,279	)	$	(149,459	)		$	(153,080	)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.61	)		$	(0.82	)	$	(2.18	)		$	(2.38	)
Weighted-average common shares outstanding, basic and diluted		69,046,050				66,261,055			68,541,561				64,346,588
Net loss	$	(41,369	)		$	(54,279	)	$	(146,306	)		$	(153,080	)
Other comprehensive income (loss):
Foreign currency translation adjustment		77				834			870				(1,272	)
Unrealized gain (loss), net on marketable securities	$	(909	)		$	488		$	(1,818	)			385
Comprehensive loss	$	(42,201	)		$	(52,957	)	$	(147,254	)		$	(153,967	)

Rhythm Pharmaceuticals, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share data)
(Unaudited)
	September 30, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	39,981			$	54,301
Short-term investments		280,963				334,648
Accounts receivable, net		39,120				26,081
Inventory		31,187				25,753
Prepaid expenses and other current assets		28,111				26,133
Total current assets		419,362				466,916
Property and equipment, net		569				1,104
Right-of-use asset		2,694				3,049
Intangible assets, net		16,678				5,319
Restricted cash		1,281				522
Other long-term assets		2,548				3,286
Total assets	$	443,132			$	480,196
Liabilities, Convertible Preferred Stock and Stockholders’ equity
Current liabilities:
Accounts payable	$	10,687			$	13,947
Accrued expenses and other current liabilities		124,721				83,855
Lease liability		731				650
Deferred revenue		—				194
Deferred royalty obligation, current		14,751				7,296
Total current liabilities		150,890				105,942
Long-term liabilities:
Deferred royalty obligation		87,915				100,886
Lease liability, non-current		2,784				3,342
Total liabilities		241,589				210,170
Commitments and contingencies (Note 14)
Series A convertible preferred stock, $0.001 par value: 150,000 shares authorized; 115,000 and 132,500 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively. Liquidation preference of $116,725 and $132,500 as of September 30, 2026, and December 31, 2025, respectively.		113,577				130,957
Stockholders’ equity:
Preferred stock, $0.001 par value: 9,850,000 shares authorized; no shares issued and outstanding at September 30, 2026 and December 31, 2025		—				—
Common stock, $0.001 par value: 120,000,000 shares authorized; 69,314,825 and 67,205,321 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively		70				67
Additional paid-in capital		1,587,823				1,491,675
Accumulated other comprehensive loss		(1,744	)			(796	)
Accumulated deficit		(1,498,183	)			(1,351,877	)
Total stockholders’ equity		87,966				139,069
Total liabilities, convertible preferred stock and stockholders’ equity	$	443,132			$	480,196

Third Quarter 2026 Highlights

• Revenue increased 24% to €363 million
• Profit for the period increased 20% to €27 million, 7.5% as a percentage of revenue
• Delivered a 21% increase in Adjusted EBITDA¹ to €102 million and Adjusted EBITDA margin¹ of 28.2%
• Net cash from operating activities increased 37% to €157 million, Free cash flow¹ increased 12% to €73 million
• Repurchased US$157 million of shares during the quarter under the share repurchase plan
• Announced agreement to divest Atrium Sports for US$170 million
• Entered new and expanded partnerships with leading prediction market exchanges, brokers and market makers

ST. GALLEN, Switzerland, Nov. 03, 2026 (GLOBE NEWSWIRE) — Sportradar Group AG (Nasdaq: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its third quarter ended September 30, 2026.

Carsten Koerl, Chief Executive Officer of Sportradar, said: “Sportradar delivered another strong quarter of double-digit growth, once again demonstrating the value of our role as a key technology and content partner to the global sports ecosystem. Our performance was driven by strong demand for our premium content portfolio, deep data and innovative technology solutions, including further monetization of the acquired IMG ARENA rights and significant contributions from across the prediction markets landscape. Fans are engaging with sports across more platforms than ever before, expanding our addressable market and increasing demand for our products and solutions. As we capitalize on these new opportunities, further leveraging our existing portfolio, we remain focused on innovation and execution to drive additional value for our partners and clients and deliver durable growth and expanding profitability for our shareholders.”

THIRD QUARTER 2026 RESULTS

Revenue

		Three-Month Period Ended September 30,										Nine-Month Period Ended September 30,
in € thousands (unaudited)		2026		2025		Change			%			2026		2025		Change			%
Revenue by product
Betting & Gaming Content		241,976		176,471		65,505			37	%		728,674		569,857		158,817			28	%
Managed Betting Services		54,699		56,336		(1,637	)		(3	)%		169,211		171,737		(2,526	)		(1	)%
Betting Technology & Solutions		296,675		232,807		63,868			27	%		897,885		741,594		156,291			21	%
Marketing & Media Services		50,744		43,957		6,787			15	%		140,610		131,559		9,051			7	%
Sports Performance		10,287		11,127		(840	)		(8	)%		31,563		34,760		(3,197	)		(9	)%
Integrity Services		4,809		4,163		646			16	%		16,790		13,162		3,628			28	%
Sports Content, Technology & Services		65,840		59,247		6,593			11	%		188,963		179,481		9,482			5	%
Total Revenue		362,515		292,054		70,461			24	%		1,086,848		921,075		165,773			18	%
Revenue by geography
Rest of World		264,516		225,452		39,064			17	%		797,623		680,405		117,218			17	%
United States		97,999		66,602		31,397			47	%		289,225		240,670		48,555			20	%
Total Revenue		362,515		292,054								1,086,848		921,075

THIRD QUARTER 2026 FINANCIAL RESULTS

Revenue

Total revenue for the third quarter was €363 million, up €70 million, or 24% year-over-year, driven by 27% growth in Betting Technology & Solutions and 11% growth in Sports Content, Technology & Services.

Betting Technology & Solutions revenues of €297 million were up 27% year-over-year primarily driven by a 37% increase in Betting & Gaming Content reflecting contributions related to the acquisition of IMG ARENA and further uptake of the Company’s products and services by existing and new customers, including prediction market participants. Revenue growth was partially offset by a 3% decline in Managed Betting Services as higher Managed Trading Services turnover was offset by lower trading margins due to unfavorable sport outcomes.

Sports Content, Technology & Services revenues of €66 million increased 11% year-over-year primarily driven by a 15% increase in Marketing & Media Services due to contributions from new and existing media and technology customers, as well as increased affiliate marketing spending from sportsbook and prediction market customers.

The Company generated strong revenue growth globally with the United States up 47% and Rest of World up 17%. As a percentage of total Company revenues, United States revenue represented 27% of total Company revenue in the third quarter as compared to 23% in the prior year quarter due to market expansion, including prediction market growth, and customer uptake of our premium content and solutions.

Profit for the period

Profit for the period was €27 million, up €5 million, or 20% compared to the same quarter a year ago, as the Company’s strong operating results were partially offset by a €6 million foreign currency loss due to unrealized currency fluctuations mainly associated with U.S. dollar-denominated sports rights, €4 million higher financing costs due to additional sports rights, and severance costs related to cost efficiency initiatives.

Adjusted EBITDA

Third quarter Adjusted EBITDA was €102 million, up €18 million, or 21%, compared to €85 million in the same quarter in 2025. The increase was largely driven by the 24% revenue growth as well as lower adjusted personnel costs, partially offset primarily by the inclusion of costs related to IMG ARENA, most notably sport rights.

Business Highlights

• Expanded Sportradar’s prediction markets partnership with Polymarket to more than 20 leagues and competitions, including the Bundesliga, Euroleague Basketball, and Tennis Grand Slams.
• Entered into agreements with prediction market makers and brokers, extending Sportradar’s reach across every layer of the prediction market sports ecosystem, further expanding our addressable market and diversifying our  customer base.
• Extended Sportradar’s exclusive global distribution of Euroleague Basketball official data and audiovisual betting rights through 2031, covering more than 650 games annually across the EuroLeague and BKT EuroCup competitions and strengthening Sportradar’s position as the leading official data rights holder in basketball.

Atrium Sports Divestiture

On October 7, 2026, Sportradar announced a definitive agreement to divest Atrium Sports, the Coaching & Scouting business of Synergy Sports, to Teamworks Innovations for US$170 million. The sale streamlines Sportradar’s business while retaining key capabilities that will support growth and innovation. The transaction is currently expected to close in the fourth quarter of 2026, subject to satisfaction of customary closing conditions.

Balance Sheet and Liquidity

The Company’s cash and cash equivalents were €190 million as of September 30, 2026, as compared with €365 million as of December 31, 2025. Net cash generated from operating activities for the nine-months ended September 30, 2026 of €383 million was partially offset by net cash used in investing activities of €203 million, primarily from payments related to sport rights licenses, and by net cash used in financing activities of €359 million. For the nine months ended September 30, 2026, financing activities included €352 million in share repurchases. Free cash flow for the nine-months ended September 30, 2026 was €177 million, an increase of €27 million, or 18%, from €149 million in the same period in 2025. Including its undrawn credit facility, the Company had total liquidity of €440 million as of September 30, 2026, as compared to €585 million as of December 31, 2025, and no debt outstanding.

________________________________
¹ Non-IFRS measure. See the sections captioned “Non-IFRS Financial Measures” and “IFRS to Non-IFRS reconciliations” for more details.

2026 Full Year Financial Outlook

Sportradar reiterated its fiscal 2026 outlook as follows:

• Revenue growth on a constant currency¹ basis of 19% to 21%. When factoring in current foreign currency rates, revenues are expected to grow to a range of €1,518 to €1,533 million
• Adjusted EBITDA growth on a constant currency basis of 24% to 27%. When factoring in current foreign currency rates, Adjusted EBITDA is expected to grow to a range of €360 to €368 million
• Adjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis
• Free cash flow conversion¹ rate is expected to exceed the 2025 level of 56%, excluding the impact of non-routine litigation costs

The 2026 guidance does not include any impact from the anticipated divestiture of Atrium Sports given the uncertainty of timing of closing. Guidance will be updated, if necessary, to incorporate the impact of the divestiture following the closing of the transaction.

Share Repurchase Plan

In March 2024, the Company’s Board of Directors approved a US$200 million share repurchase plan. Subsequently, the Board of Directors approved a US$100 million increase to the plan in October 2025 and another US$700 million increase in February 2026, bringing the total authorized share repurchase plan to US$1 billion. Under this authorized plan, in April 2026, the Company announced it entered into an enhanced open market share repurchase program to purchase up to US$250 million of shares. The Company completed this enhanced open market program during the third quarter. As of October 30, 2026, the Company has repurchased 34 million shares for US$519 million under the plan since inception, including US$408 million in 2026.

Conference Call and Webcast Information

Sportradar will host a conference call to discuss the third quarter 2026 results today, November 3, 2026 at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar’s Investor Relations website. An archived webcast with the accompanying slides will be available at the Company’s Investor Relations website for one year after the conclusion of the live event.

About Sportradar

Sportradar Group AG (Nasdaq: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports media and betting/gaming industries, Sportradar provides betting and iGaming operators, media and technology companies, prediction market partners and sports federations with a best-in-class range of solutions to help grow their businesses. Trusted by the world’s leading global sports organizations including the ATP, NBA and WNBA, NHL, MLB, MLS, PGA TOUR, UEFA, FIFA, CONMEBOL, AFC, and the Bundesliga, and global clients including Flutter, DraftKings, Google, Microsoft, Kalshi and Polymarket, Sportradar covers more than a million events annually across all major sports. Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved.

For more information about Sportradar, please visit www.sportradar.com

________________________________
¹ Non-IFRS measure. See the sections captioned “Non-IFRS Financial Measures” and “IFRS to Non-IFRS reconciliations” for more details.

CONTACT:

Investor Relations:
Jim Bombassei
j.bombassei@sportradar.com

Media:
Sandra Lee
sandra.lee@sportradar.com

Non-IFRS Financial Measures

We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA, Adjusted EBITDA margin, Constant Currency metrics, Adjusted purchased services, Adjusted personnel expenses, Adjusted other operating expenses, Free cash flow, and Free cash flow conversion. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors.

Non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures provided in the financial statement tables included below in this press release.

• “Adjusted EBITDA” represents earnings for the period adjusted for finance income and finance costs, income tax expense or benefit, depreciation and amortization (excluding amortization of capitalized sport rights licenses), foreign currency gains or losses, and other items that are non-recurring or not related to the Company’s revenue-generating operations, including share-based compensation, restructuring costs, non-routine litigation costs, secondary offering costs, certain transaction-related costs and impairment charges.

  License fees relating to sport rights are a key component of how we generate revenue and one of our main operating expenses. Only licenses that meet the recognition criteria of IAS 38 are capitalized. The primary distinction for whether a license is capitalized or not capitalized is the contracted length of the applicable license. Therefore, the type of license we enter into can have a significant impact on our results of operations depending on whether we are able to capitalize the relevant license. As such, our presentation of Adjusted EBITDA reflects the full costs of our sport rights licenses. Management believes that, by including amortization of sport rights in its calculation of Adjusted EBITDA, the result is a financial metric that is both more meaningful and comparable for management and our investors while also being more indicative of our ongoing operating performance.

  We present Adjusted EBITDA because management believes that some items excluded are non-recurring in nature and this information is relevant in evaluating the results relative to other entities that operate in the same industry. Management believes Adjusted EBITDA is useful to investors for evaluating Sportradar’s operating performance against competitors, which commonly disclose similar performance measures. However, Sportradar’s calculation of Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Adjusted EBITDA is not intended to be a substitute for any IFRS financial measure.

  Items excluded from Adjusted EBITDA include significant components in understanding and assessing financial performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitute for, profit for the period, revenue or other financial statement data presented in our consolidated financial statements as indicators of financial performance. We compensate for these limitations by relying primarily on our IFRS results and using Adjusted EBITDA only as a supplemental measure.

• “Adjusted EBITDA margin” is the ratio of Adjusted EBITDA to revenue. 

  The Company is unable to provide a reconciliation of Adjusted EBITDA to profit (loss) for the period, or Adjusted EBITDA margin to Profit (loss) for the period as a percentage of revenue (in each case, the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, foreign exchange gains and losses. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.

• “Constant Currency” information compares results between periods as if exchange rates had remained constant. As the impact of exchange rate fluctuations can be highly variable, we believe these metrics, unaffected by exchange rate variability, provide meaningful insights to investors into our operational performance and underlying business trends.

  The Company is unable to provide a reconciliation of constant currency measures to their comparable IFRS measures on a forward-looking basis without unreasonable effort because future exchange-rate movements that impact these measures are not within the Company’s control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.

We present Adjusted purchased services, Adjusted personnel expenses, and Adjusted other operating expenses (together, “Non-IFRS expenses”) because management utilizes these financial measures to manage its business on a day-to-day basis and believes that they are the most relevant measures of expenses. Management believes these adjusted expense measures provide expanded insight to assess revenue and cost performance, in addition to the standard IFRS-based financial measures. Management believes these adjusted expense measures are useful to investors for evaluating Sportradar’s operating performance against competitors. However, Sportradar’s calculation of adjusted expense measures may not be comparable to other similarly titled performance measures of other companies. These adjusted expense measures are not intended to be a substitute for any IFRS financial measure.

• “Adjusted purchased services” represents purchased services less capitalized external development costs and certain transaction-related costs.
• “Adjusted personnel expenses” represents personnel expenses less share-based compensation awarded to employees, restructuring costs, and capitalized personnel compensation. 
• “Adjusted other operating expenses” represents other operating expenses plus impairment loss on trade receivables, less non-routine litigation, share-based compensation awarded to third parties, secondary offering costs, certain transaction-related costs and impairment charges.

We consider Free cash flow and Free cash flow conversion to be liquidity measures that provide useful information to management and investors about the amount of cash generated by the business after the purchase of property and equipment, the purchase of intangible assets and payment of lease liabilities, which can then be used, among other things, to invest in our business and make strategic acquisitions, as well as our ability to convert our earnings to cash. A limitation of the utility of Free cash flow and Free cash flow conversion as measures of liquidity is that they do not represent the total increase or decrease in our cash balance for the year.

• “Free cash flow” represents net cash from operating activities adjusted for payments for lease liabilities, acquisition of property and equipment, and acquisition of intangible assets.
• “Free cash flow conversion” represents Free cash flow as a percentage of Adjusted EBITDA.

  The Company is unable to provide a reconciliation of Free cash flow to net cash from operating activities or Free cash flow conversion to net cash from operating activities as a percentage of profit (loss) for the period (in each case, the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, changes in working capital, the timing of customer payments, the timing and amount of tax payments, and other items that are non-recurring or unusual. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.

Safe Harbor for Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, without limitation, statements regarding future financial or operating performance, planned activities and objectives, anticipated growth resulting therefrom, market opportunities, strategies and other expectations, and our guidance and outlook, including expected performance for the full year 2026, as well as statements regarding our share repurchase plan and divestiture of Atrium Sports. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “projects”, “continue,” “contemplate,” “confident,” “possible” or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: economic downturns and political and market conditions beyond our control, including uncertainty and instability resulting from catastrophic events such as acts of war or terrorism and foreign exchange rate fluctuations; dependence on our strategic relationships with our sports league partners; effect of social responsibility concerns and public opinion on responsible gaming, gambling by minors, match-fixing or other illegal gambling schemes on our reputation; potential adverse changes in public and consumer tastes and preferences and industry trends; potential changes in competitive landscape, including new market entrants or disintermediation; potential inability to anticipate and adopt new technology and products; potential errors, failures or bugs in our products; inability to protect our systems and data from continually evolving cybersecurity risks, security breaches or other technological risks; potential interruptions and failures in our systems or infrastructure; our ability to comply with governmental laws, rules, regulations, and other legal obligations, related to data privacy, protection and security; ability to comply with the variety of unsettled and developing U.S. and foreign laws on sports betting; developing litigation and the unpredictability of restrictions and/or bans of sports prediction market operations in United States and other territories; risks associated with artificial intelligence and machine-learning technologies; failure to recruit, retain and develop qualified personnel; changes in the legal and regulatory status of real money gambling and betting legislation on us and our customers; the provisional ban of online betting in Brazil being approved to remain in effect; our inability to maintain or obtain regulatory compliance in the jurisdictions in which we conduct our business; our ability to obtain, maintain, protect, enforce and defend our intellectual property rights; our ability to obtain and maintain sufficient data rights from major sports leagues, including exclusive rights; our ability to successfully remediate any material weaknesses identified in our internal control over financial reporting; seasonality and volatility; difficulties in our ability to evaluate, complete and integrate acquisitions successfully; inability to secure additional financing in a timely manner, or at all, to meet our long-term future capital needs; publication of research reports, including by short sellers, or speculation in the press or the investment community, about us; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, and other documents filed with or furnished to the SEC, accessible on the SEC’s website at www.sec.gov and on our website at https://investors.sportradar.com. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. One should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SPORTRADAR GROUP AG
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Unaudited)

		Three-Month Period Ended September 30,						Nine-Month Period Ended September 30,
in €’000, except share and per share data		2026			2025			2026			2025
Revenue		362,515			292,054			1,086,848			921,075
Personnel expenses		(93,451	)		(93,958	)		(308,984	)		(298,095	)
Sport rights expenses (including amortization of capitalized sport rights licenses)		(111,724	)		(72,548	)		(371,769	)		(282,772	)
Purchased services		(53,914	)		(46,080	)		(156,475	)		(143,193	)
Other operating expenses		(31,820	)		(29,220	)		(97,933	)		(86,074	)
Impairment loss on trade receivables, contract assets and other financial assets		(2,779	)		(543	)		(5,404	)		(3,875	)
Internally-developed software cost capitalized		11,542			13,282			26,719			37,172
Depreciation and amortization (excluding amortization of capitalized sport rights licenses)		(18,648	)		(16,338	)		(59,514	)		(49,787	)
Foreign currency (loss) gain, net		(6,387	)		341			(24,794	)		81,713
Finance income		1,991			2,531			7,597			7,153
Finance costs		(24,204	)		(20,375	)		(71,904	)		(63,369	)
Net income before tax		33,121			29,146			24,387			119,948
Income tax benefit (expense)		(6,093	)		(6,679	)		(7,163	)		(24,026	)
Profit for the period		27,028			22,467			17,224			95,922
Other comprehensive (loss) income
Items that will not be reclassified subsequently to profit or (loss)
Remeasurement of equity investments		2			—			(3,418	)		—
Remeasurement of defined benefit liability		(19	)		(2	)		(104	)		(8	)
Related deferred tax (expense) benefit		—			(35	)		799			2
		(17	)		(37	)		(2,723	)		(6	)
Items that may be reclassified subsequently to profit or (loss)
Foreign currency translation adjustment attributable to the owners of the company		1,216			(2,722	)		4,669			(19,394	)
Foreign currency translation adjustment attributable to non-controlling interests		—			—			—			(105	)
		1,216			(2,722	)		4,669			(19,499	)
Other comprehensive income (loss) for the period, net of tax		1,199			(2,759	)		1,946			(19,505	)
Total comprehensive income (loss) for the period		28,227			19,708			19,170			76,417
Profit (loss) attributable to:
Owners of the Company		27,028			22,468			17,225			95,921
Non-controlling interests		—			(1	)		(1	)		1
		27,028			22,467			17,224			95,922
Total comprehensive (loss) income attributable to:
Owners of the Company		28,227			19,709			19,171			76,521
Non-controlling interests		—			(1	)		(1	)		(104	)
		28,227			19,708			19,170			76,417
Profit per Class A share attributable to owners of the Company
Basic		0.10			0.07			0.06			0.32
Diluted		0.09			0.07			0.05			0.30
Profit per Class B share attributable to owners of the Company
Basic		0.01			0.01			0.01			0.03
Diluted		0.01			0.01			0.01			0.03
Weighted-average number of shares
Weighted-average number of Class A shares (basic)		202,681			221,979			212,266			217,584
Weighted-average number of Class A shares (diluted)		217,737			240,930			227,782			236,916
Weighted-average number of Class B shares (basic and diluted)		783,671			783,671			783,671			829,995

SPORTRADAR GROUP AG
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited)

in €’000		September 30, 2026			December 31, 20251
Assets
Current assets
Cash and cash equivalents		190,143			365,295
Trade receivables		93,964			93,552
Contract assets		110,451			123,456
Other assets and prepayments		83,612			72,380
Income tax receivables		10,205			15,884
Total current assets		488,375			670,567
Non-current assets
Property and equipment		73,202			79,343
Intangible assets and goodwill		1,904,455			2,022,314
Other financial assets and other non-current assets		63,421			60,479
Deferred tax assets		32,747			28,749
Total non-current assets		2,073,825			2,190,885
Total assets		2,562,200			2,861,452
Liabilities and equity
Current liabilities
Loans and borrowings		10,634			11,003
Trade payables		471,917			422,816
Other liabilities		55,158			92,507
Contract liabilities		67,046			35,195
Income tax liabilities		2,676			6,891
Total current liabilities		607,431			568,412
Non-current liabilities
Loans and borrowings		48,565			51,842
Trade payables		1,171,383			1,204,402
Contract liabilities		32,328			38,024
Other non-current liabilities		3,935			3,842
Deferred tax liabilities		8,519			16,148
Total non-current liabilities		1,264,730			1,314,258
Total liabilities		1,872,161			1,882,670
Equity
Ordinary shares		27,582			27,582
Treasury shares		(365,846	)		(79,388	)
Additional paid-in capital		662,547			682,458
Retained earnings		358,169			342,488
Other reserves		7,586			5,640
Equity attributable to owners of the Company		690,038			978,780
Non-controlling interest		1			2
Total equity		690,039			978,782
Total liabilities and equity		2,562,200			2,861,452

^{1 – Certain prior-year balance sheet amounts have been adjusted to reflect measurement period adjustments, in accordance with IFRS 3, related to the acquisition of IMG Arena.}

SPORTRADAR GROUP AG
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

		Nine-Month Period Ended September 30,
in €’000		2026			2025
OPERATING ACTIVITIES:
Profit for the period		17,224			95,922
Adjustments to reconcile profit for the period to net cash provided by operating activities:
Income tax expense		7,163			24,026
Interest income		(7,590	)		(7,153	)
Interest expense		70,780			63,165
Foreign currency loss (gain), net		24,794			(81,713	)
Depreciation and amortization (excluding amortization of capitalized sport rights licenses)		59,514			49,787
Amortization of capitalized sport rights licenses		255,395			186,370
Equity-settled share-based payments		43,052			41,058
Change in provision		(17,888	)		—
Other		(14,136	)		5,903
Cash flow from operating activities before working capital changes, interest and income taxes		438,308			377,365
Decrease in trade receivables, contract assets, other assets and prepayments, net		6,724			2,821
Increase in trade and other payables, contract and other liabilities, net		21,703			2,627
Changes in working capital		28,427			5,448
Interest paid		(70,512	)		(62,622	)
Interest received		3,616			7,153
Income taxes paid, net		(16,778	)		(12,689	)
Net cash from operating activities		383,061			314,655
INVESTING ACTIVITIES:
Acquisition of intangible assets		(194,233	)		(156,332	)
Acquisition of property and equipment		(6,339	)		(3,238	)
Acquisition of subsidiaries, net of cash acquired		—			(6,942	)
Proceeds from sale of intangible assets		268			45
Issuance of loans receivable		(3,500	)		—
Change in loans receivable and deposits		506			30
Net cash used in investing activities		(203,298	)		(166,437	)
FINANCING ACTIVITIES:
Payment of lease liabilities		(5,859	)		(5,608	)
Purchase of treasury shares		(352,224	)		(81,219	)
Transaction costs related to borrowings		(1,261	)		—
Acquisition of non-controlling interests		—			(15,000	)
Other		—			(3	)
Net cash used in financing activities		(359,344	)		(101,830	)
Net decrease in cash		(179,581	)		46,388
Cash and cash equivalents at beginning of period		365,295			348,357
Effects of movements in exchange rates		4,429			(34,362	)
Cash and cash equivalents at end of period		190,143			360,383

Additional disclosures related to sport rights expenses

The following table shows the composition of sport rights expenses (unaudited):

		Three-Month Period Ended September 30,				Nine-Month Period Ended September 30,
in €’000		2026		2025		2026		2025
Non-capitalized sport rights expenses		44,673		32,386		116,374		96,402
Amortization of capitalized sport rights		67,051		40,162		255,395		186,370
Total sport rights expenses		111,724		72,548		371,769		282,772

IFRS to Non-IFRS Reconciliations

The following table reconciles Adjusted EBITDA to the most directly comparable IFRS financial performance measure, which is Profit for the period (unaudited), and Adjusted EBITDA margin to the most directly comparable IFRS financial performance measure, which is Profit for the period (unaudited) as a percentage of revenue:

		Three-Month Period Ended September 30,						Nine-Month Period Ended September 30,
in €’000		2026			2025			2026			2025
Revenue		362,515			292,054			1,086,848			921,075
Profit for the period		27,028			22,467			17,224			95,922
Finance income		(1,991	)		(2,531	)		(7,597	)		(7,153	)
Finance costs		24,204			20,375			71,904			63,369
Depreciation and amortization (excluding amortization of capitalized sport rights licenses)		18,648			16,338			59,514			49,787
Foreign currency loss (gain), net		6,387			(341	)		24,794			(81,713	)
Share-based compensation		11,481			13,714			44,175			42,785
Restructuring costs		4,488			—			16,275			1,342
Non-routine litigation costs		1,521			5,480			4,323			10,547
Transaction-related costs		1,526			1,811			3,885			6,413
Secondary offering costs		—			586			—			2,046
Impairment charges		2,808			—			2,808			—
Income tax (benefit) expense		6,093			6,679			7,163			24,026
Adjusted EBITDA		102,193			84,578			244,468			207,371

Profit for the period as a percentage of revenue		7.5	%		7.7	%		1.6	%		10.4	%
Adjusted EBITDA margin		28.2	%		29.0	%		22.5	%		22.5	%

The most directly comparable IFRS measure of Free cash flow is Net cash from operating activities, and the most directly comparable IFRS measure of Free cash flow conversion is Net cash from operating activities conversion, which is measured as Net cash from operating activities as a percentage of Profit for the period. Calculations for these measures are disclosed below (unaudited):

		Nine-Month Period Ended September 30,
in €’000		2026			2025
Net cash from operating activities		383,061			314,655
Acquisition of intangible assets		(194,233	)		(156,332	)
Acquisition of property plant and equipment		(6,339	)		(3,238	)
Payment of lease liabilities		(5,859	)		(5,608	)
Free cash flow		176,630			149,477

Net cash from operating activities conversion		2,224	%		328	%
Free cash flow conversion		72	%		72	%

The following tables show reconciliations of IFRS expenses included in Profit for the period to expenses included in Adjusted EBITDA (unaudited):

		Three-Month Period Ended September 30,						Nine-Month Period Ended September 30,
in €’000		2026			2025			2026			2025
Purchased services		53,914			46,080			156,475			143,193
Less: capitalized external services		(2,489	)		(4,574	)		(6,897	)		(14,304	)
Less: transaction-related costs		(15	)		—			(52	)		—
Adjusted purchased services		51,410			41,506			149,526			128,889
Personnel expenses		93,451			93,958			308,984			298,095
Less: share-based compensation		(12,904	)		(14,617	)		(46,153	)		(45,037	)
Less: restructuring costs		(4,488	)		—			(16,275	)		(1,342	)
Less: capitalized personnel compensation		(7,804	)		(7,580	)		(17,036	)		(19,948	)
Adjusted personnel expenses		68,255			71,761			229,520			231,768
Other operating expenses		31,820			29,220			97,933			86,074
Less: non-routine litigation		(1,521	)		(5,480	)		(4,323	)		(10,547	)
Less: share-based compensation		175			(225	)		(807	)		(668	)
Less: transaction-related costs		(1,512	)		(1,811	)		(3,834	)		(6,413	)
Less: secondary offering costs		—			(586	)		—			(2,046	)
Less: impairment charges		(2,808	)		—			(2,808	)		—
Add: impairment loss on trade receivables		2,779			543			5,404			3,875
Adjusted other operating expenses		28,933			21,661			91,565			70,275

TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) — NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide additional results from its recently completed detailed Reverse Circulation Infill Drill Program (“RC Infill Drill Program”) at the Company’s Goldboro Gold Project in Nova Scotia (“Goldboro Project”). The RC Infill Drill Program, which consisted of 36,239 metres, was designed to infill specific areas of the Goldboro Mineral Resource within the planned West and East Pits at a nominal drill spacing of 12.5 metres and down to depths of 50 metres (Figures 1 and 2).  Results have been received for all drilling within the West Pit of the Goldboro Mineral Resource.

Kevin Bullock, President, CEO & Director of NexGold, commented: “We are pleased to announce the successful completion of the RC Infill Drill Program, which was well executed. Fire assay results from all drill holes completed within the West Pit have been received, while assay results from the East Pit are expected in the coming months.

“The RC Infill Drilling Program was designed to increase confidence in the location, continuity, grade, and thickness of mineralization within the planned open-pit mining areas. Drilling within the West Pit focused primarily on areas scheduled for mining during the initial years of operation. The results from this program, together with those from the East Pit, are expected to support the evaluation of a final investment decision and may be incorporated into future Mineral Resource Estimates beyond those included in the updated Feasibility Study, which is anticipated to be completed later this year.

“As we continue to advance the Project across several key development workstreams, our focus remains on completing the Feasibility Study in 2026 and safely executing early works construction activities on site. Current activities on site include construction of the public access bypass road, installation of sediment and erosion control structures, clearing and preparation of the Employee Accommodations Facility site, development of till and organics stockpiles, construction of sedimentation ponds, and establishment of construction management facilities. These activities represent important milestones as we continue to advance the Goldboro Project toward a construction decision.”

Selected highlights from the most recent results from the RC Infill Drill Program within the West Pit include:

• 4.16 g/t Au over 7.0 m (from 13.0 m to 20.0 m) including 20.15 g/t Au over 1.0 m (from 14.0 m to 15.0 m) in drill hole RC-26-271;
• 6.76 g/t Au over 2.0 m (from 14.0 m to 16.0 m) including 12.75 g/t Au over 1.0 m (from 14.0 m to 15.0 m) and 3.11 g/t Au over 4.0 m (from 20.0 m to 24.0 m) in drill hole RC-26-249;
• 6.46 g/t Au over 3.0 m (from 11.0 m to 14.0 m) including 18.88 g/t Au over 1.0 m (from 13.0 m to 14.0 m) and 2.83 g/t Au over 2.0 m (from 31.0 m to 33.0 m) in drill hole RC-26-273;
• 2.84 g/t Au over 7.0 m (from 11.0 m to 18.0 m) and 1.55 g/t Au over 2.0 m (from 26.0 m to 28.0 m) in drill hole RC-26-251;
• 5.11 g/t Au over 3.0 m (from 36.0 m to 39.0 m) and 1.48 g/t Au over 5.0 m (from 11.0 m to 16.0 m) in drill hole RC-26-246;
• 3.11 g/t Au over 6.0 m (from 11.0 m to 17.0 m) including 13.91 g/t Au over 1.0 m (from 15.0 m to 16.0 m) in drill hole RC-26-293;
• 1.94 g/t Au over 9.0 m (from 13.0 m to 22.0 m) in drill hole RC-26-290;
• 1.84 g/t Au over 8.0 m (from 10.0 m to 18.0 m) in drill hole RC-26-279;
• 2.92 g/t Au over 5.0 m (from 14.0 m to 19.0 m) including 11.29 g/t Au over 1.0 m (from 16.0 m to 17.0 m) from drill hole RC-26-274; and
• 4.84 g/t Au over 3.0 m (from 10.0 m to 13.0 m) in drill hole RC-26-252.

In addition, selected assay highlights from the West Pit, as previously reported in the Company’s news releases dated June 25, 2026, July 9, 2026 and August 19, 2026, include:

• 61.22 g/t Au over 12.0 m (from 18.0 m to 30.0 m) including 685.0 g/t over 1.0 m (23.0 to 24.0 m) and including 36.69 g/t over 1.0 m (24.0 to 25.0 m)  in drill hole RC-26-073;
• 12.06 g/t Au over 6.0 m (from 44.0 m to 50.0 m) including 67.41 g/t Au over 1.0 m (47.0 m to 48.0 m) in drill hole RC-26-147;
• 9.31 g/t Au over 7.0 m (from 25.0 m to 32.0 m) including 63.55 g/t Au over 1.0 m (25.0 m to 26.0 m) in drill hole RC-26-144;
• 5.83 g/t Au over 13.0 m (from 9.0 m to 22.0 m) including 61.20 g/t Au over 1.0 m (13.0 m to 14.0 m) and 1.55 g/t Au over 4.0 m (from 27.0 m to 31.0 m) in drill hole RC-26-037;
• 3.72 g/t Au over 13.0 m (from 37.0 m to 50.0 m) including 20.08 g/t Au over 1.0 m (37.0 m to 38.0 m) and 11.83 g/t Au over 1.0 m (from 47.0 m to 48.0 m) in drill hole RC-26-060;
• 3.84 g/t over 18.0 m (from 30.0 m to 48.0 m)  including 28.04 g/t Au over 1.0 m (36.0 m to 37.0 m) and including 15.46 g/t over 1.0 m (43.0 m to 44.0 m) and 1.59 g/t Au over 8.0 m (from 19.0 m to 27.0 m) ;
• 4.13 g/t Au over 10.0 m (from 11.0 m to 21.0 m) including 29.03 g/t Au over 1.0 m (15.0 m to 16.0 m) and 3.04 g/t Au over 9.0 m (from 39.0 m to 48.0 m) including 14.49 g/t Au over 1.0 m (from 44.0 m to 45.0 m) and 1.25 g/t Au over 8.0 m (from 25.0 m to 33.0 m) in drill hole RC-26-129;
• 4.02 g/t Au over 11.0 m (from 27.0 m to 38.0 m), including 33.40 g/t Au over 1.0 m (from 28.0 m to 29.0 m) and 0.98 g/t Au over 5.0 m (from 11.0 m to 16.0 m) in drill hole RC-26-009;
• 2.04 g/t Au over 19.0 m (from 31.0 m to 50.0 m) including 12.19 g/t Au over 1.0 m (from 46.0 m to 47.0 m) in drill hole RC-26-116;
• 5.26 g/t Au over 7.0 m (from 41.0 m to 48.0 m) including 31.29 g/t Au over 1.0 m (from 44.0 m to 45.0 m) in drill hole RC-26-226;
• 3.24 g/t Au over 11.0 m (from 36.0 m to 47.0 m) including 11.64 g/t Au over 1.0 m (from 43.0 m to 44.0 m) and 1.97 g/t Au over 8.0 m (from 24.0 m to 32.0 m) in drill hole RC-26-126;
• 7.08 g/t Au over 5.0 m (from 9.0 m to 14.0 m) including 25.11 g/t Au over 1.0 m (from 9.0 m to 10.0 m) in drill hole RC-26-195;
• 4.70 g/t Au over 7.0 m (from 31.0 m to 38.0 m) including 11.89 g/t Au over 1.0 m (from 35.0 m to 36.0 m) in drill hole RC-26-138;
• 10.78 g/t Au over 3.0 m (from 33.0 m to 36.0 m) including 13.86 g/t Au over 2.0 m (from 34.0 m to 36.0 m) in drill hole RC-26-122;
• 6.34 g/t Au over 5.0 m (from 33.0 m to 38.0 m) including 13.32 g/t Au over 2.0 m (from 34.0 m  to 36.0 m) in drill hole RC-26-120;
• 2.82 g/t Au over 11.0 m (from 26.0 m to 37.0 m) including 17.73 g/t Au over 1.0 m (from 27.0 m to 28.0 m) and 4.95 g/t Au over 6.0 m (from 44.0 m to 50.0 m) including 23.78 g/t Au over 1.0 m (from 48.0 m to 50.0 m) in drill hole RC-26-130;
• 10.23 g/t Au over 3.0 m (from 35.0 m to 38.0 m) including 27.43 g/t Au over 1.0 m (from 35.0 m to 36.0 m) in drill hole RC-26-106;
• 14.97 g/t Au over 2.0 m (from 38.0 m to 40.0 m) including 29.62 g/t Au over 1.0 m (from 39.0 m to 40.0 m) and 0.90 g/t Au over 11.0 m (from 25.0 m to 36.0 m) in drill hole RC-26-163;
• 1.65 g/t Au over 20.0 m (from 28.0 m to 48.0 m) in drill hole RC-26-146; and
• 5.73 g/t Au over 5.0 m (from 39.0 m to 44.0 m) including 13.78 g/t Au over 1.0 m (from 42.0 m to 43.0 m) in drill hole RC-26-028.

The high-density RC Infill Drill Program targets areas of the Goldboro Project associated with the initial years of the current mine plan and that are presently accessible for drilling. The objective of the program, and the rationale for using Reverse Circulation (“RC”) drilling, is to obtain a high-density data set that may support future evaluation of the Mineral Resource for potential classification upgrades from the Indicated to Measured category, using a drilling technique that more closely approximates production drilling and associated dilution. The Company expects this information to be used in conjunction with more than 180,000 metres of existing diamond drill data to support planning and evaluation of the initial years of mining contemplated in the current mine plan.

Drill results reported in this news release comprise 2,885 metres of drilling completed in 76 RC drill holes (RC-26-001, RC-26-230 to RC-26-253, RC-26-259 to RC-26-260, RC-26-262 to RC-26-309, and RC-26-581) within the West Pit area (Table 1). In addition, assay highlights from selected drill holes across the West Pit are presented to summarize key results from the RC Infill Drill Program.

Based on the Company’s QA/QC protocols, comparison with historical drilling results, and ongoing geological interpretation, the results are considered consistent with the Company’s current understanding of the Goldboro Deposit. The drilling intersected mineralization in accordance with the existing geological model and provided enhanced definition of mineralized zones through increased drill density.

Results demonstrate grade and thickness comparable to those encountered in diamond drill intersections within the same area, which were previously drilled at wider spacing. This relationship is illustrated on vertical cross-sections AE through AL (Figure 3). A complete summary of significant gold intersections is provided below (Table 2).

The results of the RC Infill Drill Program may support a future evaluation of the Mineral Resource for potential classification upgrades from the Indicated to Measured category, subject to future geological modelling, estimation, and classification work. The program utilized a drilling methodology designed to more closely approximate anticipated drilling spacing required for greater confidence and provide additional information relevant to the assessment of mining dilution and mineralization continuity.

Any future Mineral Resource Estimate incorporating the results of the RC Infill Drill Program will be completed separately from the ongoing updated Feasibility Study. As the updated Feasibility Study is anticipated to be completed later in 2026, and analytical results from portions of the RC Infill Drill Program remain outstanding, these results will not be incorporated into the Mineral Resource Estimate supporting the updated Feasibility Study.

The Company previously filed a technical report for the Goldboro Project prepared by Nordmin Engineering Ltd., entitled “NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia”, with an effective date of December 16, 2021, and a report date of January 11, 2022 (the “2021 Feasibility Study“). The report is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.nexgold.com.

Figure 1. Map showing the Goldboro Project location and the planned drill hole locations for the current RC Infill Drill Program relative to the initial years of mining contemplated in the 2021 Feasibility Study.

Figure 2. A map showing the location of drill holes reported in this news release and the associated cross sections relative to planned early-years of mining as reported in the 2021 Feasibility Study.

Figure 3. Vertical north-south cross sections (AE-AL) looking east showing drill holes for the RC Infill Drill Program reported in this news release. The cross sections correspond to the section lines shown in Figure 2. Areas along the section lines without drill holes represent portions of the deposit that are not currently accessible to drilling due to historical workings or surface access constraints. These areas are expected to be drilled in the future when they become accessible.

Table 1. RC Infill Drill Program collar information table for drill holes reported in this news release.

Drill Hole ID1	Easting (m)2	Northing (m)2	Mine Elevation (m)	Azimuth (degrees)	Inclination (degrees)	Depth (m)
RC-26-001	606811.4	5006367.7	5001.2	0	-90	30
RC-26-230	606723.5	5006405.4	5001.7	0	-90	29
RC-26-231	606723.5	5006417.9	5000.1	0	-90	29
RC-26-232	606723.7	5006430.0	4999.6	0	-90	41
RC-26-233	606723.6	5006442.3	4999.7	0	-90	44
RC-26-234	606723.9	5006455.1	4999.6	0	-90	44
RC-26-235	606735.9	5006454.9	5000.0	0	-90	44
RC-26-236	606736.1	5006442.5	4999.8	0	-90	44
RC-26-237	606736.0	5006430.3	4999.8	0	-90	40
RC-26-238	606736.3	5006417.4	5000.7	0	-90	38
RC-26-239	606735.9	5006405.3	5002.3	0	-90	35
RC-26-240	606748.5	5006405.1	5002.1	0	-90	39
RC-26-241	606748.6	5006417.6	5001.2	0	-90	39
RC-26-242	606748.4	5006430.2	5000.1	0	-90	50
RC-26-243	606748.4	5006442.8	4999.8	0	-90	50
RC-26-244	606762.0	5006441.7	4999.2	0	-90	50
RC-26-245	606760.7	5006428.8	4999.9	0	-90	50
RC-26-246	606760.9	5006417.7	5001.1	0	-90	39
RC-26-247	606761.0	5006405.0	5002.0	0	-90	38
RC-26-248	606761.1	5006392.4	5002.0	0	-90	45
RC-26-249	606773.7	5006392.5	5001.8	0	-90	50
RC-26-250	606736.1	5006398.1	5002.7	180	-80	33
RC-26-251	606760.8	5006386.0	5001.5	180	-80	50
RC-26-252	606750.2	5006392.7	5002.2	0	-90	41
RC-26-253	606723.4	5006398.5	5002.6	180	-70	26
RC-26-259	606723.5	5006379.9	5002.8	0	-90	32
RC-26-260	606735.9	5006380.1	5002.7	0	-90	37
RC-26-262	606773.4	5006405.2	5001.5	0	-90	45
RC-26-263	606773.6	5006417.7	5000.3	0	-90	50
RC-26-264	606773.7	5006430.4	4999.5	0	-90	37
RC-26-265	606774.0	5006442.4	4998.7	0	-90	35
RC-26-266	606773.5	5006455.6	4998.9	0	-90	25
RC-26-267	606785.7	5006417.6	4999.7	0	-90	35
RC-26-268	606786.0	5006430.3	4999.0	0	-90	29
RC-26-269	606786.0	5006443.5	4998.6	0	-90	27
RC-26-270	606786.2	5006455.2	4998.6	0	-90	26
RC-26-271	606785.9	5006410.9	4999.8	180	-80	37
RC-26-272	606778.5	5006392.7	5001.2	90	-80	37
RC-26-273	606798.6	5006392.7	4999.9	0	-90	35
RC-26-274	606798.5	5006405.2	4999.5	0	-90	33
RC-26-275	606798.7	5006417.7	4999.0	0	-90	30
RC-26-276	606798.7	5006430.6	4998.6	0	-90	30
RC-26-277	606798.4	5006442.4	4998.6	0	-90	27
RC-26-278	606798.4	5006454.9	4998.4	0	-90	26
RC-26-279	606810.9	5006393.2	4999.1	0	-90	33
RC-26-280	606811.0	5006405.2	4999.0	0	-90	31
RC-26-281	606811.2	5006417.1	4998.9	0	-90	30
RC-26-282	606811.0	5006430.1	4998.6	0	-90	30
RC-26-283	606811.0	5006373.7	5000.4	0	-80	33
RC-26-284	606811.0	5006355.2	5001.3	0	-90	25
RC-26-285	606798.5	5006342.8	5002.1	0	-90	25
RC-26-286	606798.4	5006355.0	5001.4	0	-90	35
RC-26-287	606798.3	5006361.8	5000.9	180	-80	35
RC-26-288	606798.3	5006366.7	5000.8	0	-67	35
RC-26-289	606785.9	5006369.2	5000.6	0	-70	40
RC-26-290	606786.0	5006367.2	5000.8	0	-90	37
RC-26-291	606786.4	5006355.5	5001.5	0	-90	38
RC-26-292	606786.4	5006342.8	5001.5	0	-90	38
RC-26-293	606773.3	5006342.8	5001.5	0	-90	37
RC-26-294	606773.5	5006355.1	5002.1	0	-90	38
RC-26-295	606773.5	5006361.2	5001.7	0	-80	40
RC-26-296	606773.3	5006363.2	5001.6	0	-60	46
RC-26-297	606761.2	5006342.5	5001.3	0	-90	39
RC-26-298	606761.1	5006354.9	5001.5	0	-90	40
RC-26-299	606761.0	5006361.5	5001.4	0	-80	46
RC-26-300	606748.4	5006342.8	5001.4	0	-90	45
RC-26-301	606748.9	5006355.3	5001.7	0	-90	46
RC-26-302	606747.8	5006360.9	5001.5	0	-80	46
RC-26-303	606736.0	5006356.6	5001.6	0	-70	40
RC-26-304	606735.9	5006355.0	5001.4	0	-90	46
RC-26-305	606735.9	5006342.8	5001.1	0	-90	46
RC-26-306	606724.1	5006338.3	5001.9	180	-80	46
RC-26-307	606723.5	5006342.7	5001.4	0	-90	46
RC-26-308	606723.2	5006353.6	5002.8	0	-90	46
RC-26-309	606723.4	5006355.0	5001.8	0	-70	40
RC-26-581	606748.5	5006398.4	5002.2	0	-90	36

1. Drill Holes RC-26-002 to -229, -254 to -259, -261, -310 to -323 were presented in news releases dated June 25, 2026, July 7, 2026, and August 19, 2026, respectively. Assays are pending for all remaining drill holes not listed here and will be reported in future news releases.
2. Collar coordinates are Universal Transverse Mercator, North American Datum 1983.

Table 2. Significant drill assay highlights from the RC Infill Drill Program.

Drill Hole ID3	From (m)	To (m)	Interval (m)4	Au (g/t)
RC-26-001	14.0	18.0	4.0	1.99
and	21.0	26.0	5.0	1.09
and	27.0	28.0	1.0	2.43
RC-26-231	13.0	14.0	1.0	2.85
RC-26-232	33.0	35.0	2.0	3.13
RC-26-233	24.0	29.0	5.0	0.80
and	32.0	33.0	1.0	1.06
RC-26-234	9.0	10.0	1.0	0.63
RC-26-235	10.0	12.0	2.0	2.40
and	14.0	15.0	1.0	1.75
and	20.0	21.0	1.0	0.84
and	39.0	40.0	1.0	1.19
RC-26-236	37.0	39.0	2.0	0.47
RC-26-237	12.0	17.0	5.0	0.29
and	20.0	21.0	1.0	1.34
RC-26-238	15.0	18.0	3.0	0.42
and	22.0	25.0	3.0	0.80
RC-26-240	15.0	18.0	3.0	4.70
including	16.0	17.0	1.0	12.98
RC-26-241	10.0	11.0	1.0	2.86
and	31.0	33.0	2.0	0.53
RC-26-242	21.0	25.0	4.0	0.72
and	49.0	50.0	1.0	0.64
RC-26-244	43.0	44.0	1.0	0.63
RC-26-245	28.0	35.0	7.0	0.51
RC-26-246	11.0	16.0	5.0	1.48
and	18.0	19.0	1.0	0.86
and	36.0	39.0	3.0	5.11
RC-26-247	23.0	25.0	2.0	6.27
including	23.0	24.0	1.0	11.78
RC-26-248	15.0	18.0	3.0	2.32
and	20.0	23.0	3.0	0.57
and	44.0	45.0	1.0	0.84
RC-26-249	14.0	16.0	2.0	6.76
including	14.0	15.0	1.0	12.75
RC-26-249	20.0	24.0	4.0	3.11
RC-26-251	11.0	18.0	7.0	2.84
and	26.0	28.0	2.0	1.55
and	45.0	46.0	1.0	1.83
RC-26-252	10.0	13.0	3.0	4.84
and	21.0	23.0	2.0	0.67
and	37.0	41.0	4.0	0.72
RC-26-259	23.0	26.0	3.0	0.54
and	27.0	30.0	3.0	4.78
including	28.0	29.0	1.0	12.05
RC-26-260	10.0	12.0	2.0	2.53
and	25.0	27.0	2.0	1.16
and	34.0	37.0	3.0	1.48
RC-26-262	30.0	33.0	3.0	0.82
RC-26-263	16.0	23.0	7.0	1.30
and	41.0	42.0	1.0	1.16
and	45.0	47.0	2.0	0.68
RC-26-267	23.0	30.0	7.0	1.61
RC-26-270	13.0	15.0	2.0	0.37
RC-26-271	13.0	20.0	7.0	4.16
including	14.0	15.0	1.0	20.15
RC-26-272	15.0	16.0	1.0	1.04
and	22.0	27.0	5.0	1.32
and	30.0	31.0	1.0	0.99
RC-26-273	11.0	14.0	3.0	6.46
including	13.0	14.0	1.0	18.88
and	23.0	29.0	6.0	0.44
and	31.0	33.0	2.0	2.83
RC-26-274	14.0	19.0	5.0	2.92
including	16.0	17.0	1.0	11.29
RC-26-278	20.0	22.0	2.0	0.61
RC-26-279	10.0	18.0	8.0	1.84
RC-26-280	17.0	28.0	11.0	0.51
RC-26-283	13.0	16.0	3.0	0.40
and	24.0	30.0	6.0	1.91
RC-26-284	11.0	12.0	1.0	2.01
and	22.0	24.0	2.0	0.70
RC-26-285	17.0	18.0	1.0	0.99
RC-26-286	12.0	19.0	7.0	1.98
RC-26-287	11.0	12.0	1.0	0.40
and	15.0	16.0	1.0	0.79
and	18.0	24.0	6.0	0.88
and	30.0	32.0	2.0	0.63
RC-26-288	12.0	14.0	2.0	1.60
and	30.0	33.0	3.0	1.87
RC-26-289	9.0	12.0	3.0	0.59
and	15.0	16.0	1.0	1.79
and	25.0	29.0	4.0	1.17
RC-26-290	13.0	22.0	9.0	1.94
and	33.0	37.0	4.0	0.67
RC-26-292	16.0	20.0	4.0	0.36
RC-26-293	11.0	17.0	6.0	3.11
including	15.0	16.0	1.0	13.91
RC-26-295	18.0	22.0	4.0	0.97
and	35.0	36.0	1.0	0.74
RC-26-296	11.0	17.0	6.0	1.43
and	23.0	25.0	2.0	0.62
and	27.0	29.0	2.0	2.20
and	34.0	36.0	2.0	0.82
RC-26-297	15.0	16.0	1.0	1.03
RC-26-299	16.0	17.0	1.0	5.08
and	19.0	20.0	1.0	1.29
and	41.0	42.0	1.0	0.66
RC-26-300	40.0	42.0	2.0	0.53
RC-26-302	14.0	16.0	2.0	1.02
and	31.0	32.0	1.0	0.49
and	39.0	41.0	2.0	0.46
RC-26-303	13.0	17.0	4.0	0.49
and	29.0	30.0	1.0	10.66
RC-26-305	8.0	10.0	2.0	0.33
RC-26-306	35.0	36.0	1.0	1.79
RC-26-307	22.0	24.0	2.0	0.87
and	31.0	33.0	2.0	1.00
RC-26-308	10.0	11.0	1.0	1.02
and	15.0	17.0	2.0	0.59
RC-26-309	10.0	12.0	2.0	0.55
and	21.0	22.0	1.0	0.71
RC-26-581	11.0	13.0	2.0	1.97
and	17.0	20.0	3.0	2.98

3. Drill Holes RC-26-230, 239, 243,250, 253-254, 257-258, 264-266, 268-269, 275-276, 277, 281, 291, 294, 298 and 304 are not listed in Table 2 as they do not have significant assays.
4. True width of mineralization varies between 50 and 100% depending on the location of the drillhole and orientation of the mineralized zone.

QA/QC

The Company has implemented a quality assurance and quality control (“QA/QC”) program to ensure that sampling and analytical procedures are conducted in accordance with CIM Exploration Best Practice Guidelines. The QA/QC program includes the regular insertion of certified reference materials, blanks, and laboratory-prepared duplicate samples into the analytical stream. In addition, laboratory QA/QC procedures include the use of internal standards, blanks, and repeat analyses. QA/QC results are reviewed continuously by the Company’s technical team, and any failures or anomalous results are investigated, with re-analysis conducted where appropriate.

Reverse circulation (“RC”) drill samples were collected at nominal one metre intervals using a cyclone and riffle/rotary splitter system. All RC samples were weighed, and sample weight variability and recovery were monitored throughout the program to assess sample quality and consistency. A target sample weight of approximately 2.5 kg was maintained throughout the program, with average recovery of approximately 85%. A geologist was present at the drill rig during drilling operations to monitor drilling and sampling procedures.

Representative split samples were placed into labelled sample bags, sealed, and transported under chain-of-custody procedures to ALS Canada Ltd. (“ALS”) in Moncton, New Brunswick. ALS is independent of the Company. Samples submitted for gold analysis by PhotonAssay™ were crushed to approximately 70% passing 2 mm, after which a representative 500 g split was collected using a riffle splitter and transferred into jars for analysis at ALS’s laboratory in Thunder Bay, Ontario.

PhotonAssay™ utilizes high-energy X-rays to determine gold content from a large sample aliquot, typically 500 g of crushed material. The method is non-destructive and is particularly well suited to gold deposits where larger sample aliquots may improve sample representativity. For samples returning grades greater than 350 g/t gold, an additional PhotonAssay™ analysis is completed using higher-grade standards.

Due to the non-destructive nature of PhotonAssay™, routine 30 g fire assay check analyses are conducted on the jarred material to compare results with PhotonAssay™ data and monitor analytical performance.

Selected samples analyzed by PhotonAssay™ will also be subjected to total pulp metallics analysis. Under this procedure, the entire sample is crushed to 100% passing 10 mesh and pulverized to 95% passing 150 mesh. The total pulp is weighed and screened at 150 mesh. The plus-150-mesh fraction is analyzed for gold by fire assay, while a 30 g subsample of the minus-150-mesh fraction is also analyzed by fire assay. A weighted-average gold grade is then calculated and reported as the final gold assay result.

Total pulp metallics assay results for certain drill holes reported in this news release remain pending and may be disclosed in a future news release as they become available.

Qualified Person

Paul McNeill, P.Geo., VP Exploration of NexGold, is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical information contained in this news release.

About NexGold Mining Corp.

NexGold is a gold-focused company with assets in Canada and Alaska, including the Goldboro Gold Project in Nova Scotia, the Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) in Northwestern Ontario, and additional exploration projects across Canada. NexGold also holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project in southeast Alaska. NexGold is committed to ongoing, meaningful engagement with regional communities and Indigenous Nations to support sustainable development, safe operations, and shared economic and social benefits.

Further details about NexGold, including a Feasibility Study for the Goldboro Gold Project and a Prefeasibility Study for the Goliath Gold Complex, are available under the Company’s issuer profile on www.sedarplus.ca and on NexGold’s website at www.nexgold.com.

Contact:

Kevin Bullock President and CEO, Director +1 (416) 408-3703 kbullock@nexgold.com

Greg DiTomaso Investor Relations +1 (647) 547-5357 gditomaso@nexgold.com

Cautionary Note Regarding Forward-Looking Information

This news release contains or incorporates by reference “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable U.S. securities laws (collectively, “forward-looking information”). Except for statements of historical fact, this news release contains forward-looking information including, without limitation: information regarding the Company’s strategic objectives and plans; the timing, advancement and results of the RC Infill Drill Program; the potential reclassification of portions of Mineral Resources from the Indicated category to the Measured category; the incorporation of RC Infill Drill Program results into a future mineral resource estimate; the completion and timing of the updated Feasibility Study; the timing of a potential investment decision; and the potential development and construction of the Goldboro Gold Project. Generally, forward-looking information is characterized by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “is projected”, “anticipates” or “does not anticipate”, “believes”, “targets”, or variations of such words and phrases. Forward-looking information may also be identified in statements where certain actions, events or results “may”, “could”, “should”, “would”, “might”, “will be taken”, “occur” or “be achieved”.

Forward-looking information is based on a number of material assumptions, including, without limitation: the accuracy of exploration and assay results; the ability to complete planned exploration programs; the availability of financing on reasonable terms; the receipt of required permits, approvals and authorizations; the continuation of current commodity price and market conditions; and the Company’s ability to execute its business and development plans as currently contemplated.

Forward-looking information involves known or unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those projected by such forward-looking information. Such factors include, among others: that financing will be available; the plan for, and actual results of, current exploration activities; expectations relating to future exploration, development and production activities as well as growth potential for NexGold’s operations; risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; reliance on third-parties, including governmental entities, for mining activities; the ability of NexGold to complete further exploration activities, including drilling at the Goliath Gold Complex and Goldboro deposits; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of mineral resources, production and cost estimates; health, safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; the ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations; and those factors described in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2025 and in the Company’s most recent disclosure documents filed under its issuer profile on SEDAR+ at www.sedarplus.ca. In addition, there can be no assurance that the results of ongoing analytical work, including pending total pulp metallics analyses, will be consistent with preliminary analytical results reported to date.

Although management of the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented to assist shareholders in understanding the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at
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– Initiated dosing in a Phase 1/2 trial of ARV-6723, an immuno-oncology oral PROTAC designed to degrade HPK1, a negative regulator of immune activation –

– Reaffirmed commitment to share clinical data from three Phase 1 programs – ARV-393, ARV-027 and ARV-6723 – in 4Q 2026 and 2027 –

– Demonstrated novel oculomotor and biomarker movement with ARV-102 Phase 1 clinical data in patients with Parkinson’s disease with oral presentation at MDS conference –

– Company to host conference call today at 8:00 a.m. ET –

NEW HAVEN, Conn., Nov. 03, 2026 (GLOBE NEWSWIRE) — Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, today reported financial results for the third quarter 2026, and provided a corporate update.

“We executed strongly during the quarter and are entering an important period of clinical milestones that we believe will demonstrate the promise of our clinical-stage protein degraders,” said Randy Teel, Ph.D., President and Chief Executive Officer of Arvinas. “We are prioritizing investments where emerging evidence supports our goal of creating transformative medicines for patients. The upcoming data from our BCL6, polyQ-AR, and HPK1 degraders will begin to define the opportunity for these programs to change the treatment landscape, and we are grateful to the patients, investigators, and employees whose commitment makes this progress possible.”

Third Quarter 2026 Business Highlights and Recent Developments

ARV-393: Oral PROTAC BCL6 degrader

• Submitted initial Phase 1 monotherapy dose escalation data for presentation at the 68th American Society of Hematology Annual Meeting (Dec. 12-15, 2026).
• Continued dose escalation in the Phase 1 clinical trial (ClinicalTrials.gov Identifier: NCT06393738) in patients with non-Hodgkin lymphoma (NHL).
  • Phase 1 trial evaluating ARV-393 as monotherapy in NHL and in combination with glofitamab in patients with diffuse large B-cell lymphoma (DLBCL).

ARV-027: Oral PROTAC polyQ-AR degrader

• Initiated enrollment in a multiple ascending dose cohort with healthy volunteers in the first-in-human Phase 1 clinical trial.

ARV-6723: Oral PROTAC HPK1 degrader

• Initiated dosing of patients in the monotherapy cohort of the Phase 1/2 clinical trial (ClinicalTrials.gov Identifier: NCT07749586) of ARV-6723, Arvinas’ first immuno-oncology degrader.
  • Phase 1 trial will evaluate ARV-6723 as a monotherapy and in combination with pembrolizumab in patients with advanced solid tumors.

ARV-102: Oral PROTAC LRRK2 degrader

• Presented additional biomarker data from the Phase 1 clinical trial in patients with Parkinson’s disease at the International Congress on Parkinson’s Disease and Movement Disorders.
  • Data showed improvements in an objective measure of impaired eye movement associated with Parkinson’s disease.
  • Changes in oculomotor function correlated with reductions in LRRK2 cerebrospinal fluid (CSF) biomarkers and changes in synaptic biomarkers.
• Announced Arvinas’ intention to prioritize initiation of Phase 1b trial in progressive supranuclear palsy (PSP) in the European Union (EU) and United Kingdom (UK), pending clinical trial application (CTA) submission and regulatory authorization.
  • Discussion with the U.S. FDA and Japan’s Pharmaceutical and Medical Device Agency are ongoing as part of Arvinas’ global clinical strategy in PSP.
  • The investigational new drug application remains on hold in the U.S., with an objective to include U.S. sites in future trials after completing the Phase 1b clinical trial.

Anticipated Upcoming Milestones and Expectations

ARV-393: Oral PROTAC BCL6 degrader

• Present data from early monotherapy dose escalation cohorts that includes safety, pharmacokinetics (PK), and pharmacodynamics (PD) from all patients, with preliminary efficacy from T-cell lymphomas, in the ongoing Phase 1 clinical trial in patients with relapsed/refractory NHL (Q4 2026).
• Share additional monotherapy data from the ongoing Phase 1 dose escalation clinical trial in patients with B- and T-cell lymphomas (mid-2027).
• Share initial data from the combination cohort with glofitamab in patients with DLBCL in the ongoing Phase 1 clinical trial (mid-2027).

ARV-027: Oral PROTAC polyQ-AR degrader

• Share initial data from the Phase 1 clinical trial in healthy volunteers evaluating androgen receptor (AR)-degradation in muscle (1H 2027).
• Initiate dosing in cohort that includes patients with Spinal-Bulbar Muscular Atrophy (SBMA) (1H 2027).

ARV-6723: Oral PROTAC HPK1 degrader

• Continue enrollment in the monotherapy dose escalation cohort of the Phase 1 clinical trial in patients with advanced solid tumors.
  • Anticipate initiation of dosing patients in the combination cohort with pembrolizumab (mid-2027).
• Present new preclinical data demonstrating ARV-6723’s superior activity and anti-tumor responses compared to immune checkpoint inhibitors in checkpoint-resistant models at the Society for Immunotherapy of Cancer Annual Meeting (Nov. 4-8, 2026).
• Present initial monotherapy data from the Phase 1 clinical trial (2H 2027).

ARV-102: Oral PROTAC LRRK2 degrader

• Submit clinical CTA to initiate Phase 1b trial in patients with PSP (EU 4Q 2026; UK 1Q 2027).
• Initiate Phase 1b clinical trial in patients with PSP in the EU and UK, pending regulatory authorization (2027).

Financial Guidance
Based on its current operating plan, Arvinas believes its cash, cash equivalents, restricted cash, and marketable securities as of September 30, 2026, is sufficient to fund planned operating expenses and capital expenditure requirements into the second half of 2028.

Third Quarter 2026 Financial Results
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities Position: As of September 30, 2026, cash, cash equivalents, restricted cash, and marketable securities were $558.9 million compared with $685.4 million as of December 31, 2025. The decrease in cash, cash equivalents, restricted cash, and marketable securities of $126.5 million for the nine months ended September 30, 2026 was primarily related to cash used in operations of $123.0 million (net of $35.0 million received under the Rigel License Agreement), unrealized losses on marketable securities of $2.9 million, and the purchase of lab equipment and leasehold improvements of $1.3 million, partially offset by proceeds from the exercise of stock options and issuance of shares under the ESPP of $0.9 million.

Research and Development Expenses: Generally Accepted Accounting Principles (GAAP) research and development (R&D) expenses were $46.9 million for the quarter ended September 30, 2026, compared with $64.7 million for the quarter ended September 30, 2025. The decrease in R&D expenses of $17.8 million for the quarter was primarily due to a decrease in external expenses of $10.5 million, and a decrease in compensation and related personnel expenses of $6.5 million, which are not allocated by program. External expenses include (i) program-specific expenses, which decreased by $6.7 million, primarily driven by a decrease in the vepdegestrant (ARV-471) program of $14.2 million, partially offset by increases in the ARV-027, ARV-6723, and ARV-393 programs of $4.6 million, $3.3 million, and $3.2 million, respectively, and (ii) non-program specific expenses, which decreased by $3.8 million.

Non-GAAP R&D expenses were $44.3 million for the quarter ended September 30, 2026, compared with $56.9 million for the quarter ended September 30, 2025, excluding zero and $0.4 million of restructuring expense for the quarters ended September 30, 2026 and 2025, respectively, and $2.6 million and $7.4 million of non-cash stock-based compensation expense for the quarters ended September 30, 2026 and 2025, respectively. A reconciliation of GAAP to non-GAAP financial measures used in this press release can be found at the end of this press release.

General and Administrative Expenses: GAAP general and administrative (G&A) expenses were $12.6 million for the quarter ended September 30, 2026, compared with $21.0 million for the quarter ended September 30, 2025. The decrease in G&A expenses of $8.4 million for the quarter was primarily due to decreases in personnel and infrastructure related costs of $4.2 million, costs related to developing commercial operations of $1.8 million, and professional fees of $1.5 million.

Non-GAAP G&A expenses were $9.2 million for the quarter ended September 30, 2026, compared with $14.6 million for the quarter ended September 30, 2025, excluding zero and $0.6 million of restructuring related reversal of previously recognized expense for the quarters ended September 30, 2026 and 2025, respectively, and $3.4 million and $7.0 million of non-cash stock-based compensation expense for the quarters ended September 30, 2026 and 2025, respectively. A reconciliation of GAAP to non-GAAP financial measures used in this press release can be found at the end of this press release.

Revenue: Revenue was $0.5 million for the quarter ended September 30, 2026, compared with $41.9 million for the quarter ended September 30, 2025. Revenue for the quarter ended September 30, 2026 consisted of sales-based royalties from the Rigel License Agreement. Revenue for the quarter ended September 30, 2025 primarily reflected $20.6 million under the Original Vepdegestrant (ARV-471) Collaboration Agreement with Pfizer and a $20.0 million development milestone related to the Novartis License Agreement. Revenue from the Original Vepdegestrant (ARV-471) Collaboration Agreement with Pfizer did not recur following the recognition of all remaining deferred revenue in the second quarter of 2026 upon entry into the Rigel License Agreement.

Cost of License Revenue: Cost of license revenue was $0.1 million for the quarter ended September 30, 2026, compared with zero for the quarter ended September 30, 2025. The expense arose under the Amended Yale License Agreement related to royalties under the Rigel License Agreement.

Investor Call & Webcast Details
Arvinas will host a conference call and webcast today, November 3, 2026, at 8:00 a.m. ET to review its third quarter 2026 financial results and discuss recent corporate updates. Participants are invited to listen by going to the Events and Presentation section under the Investors page on the Arvinas website at www.arvinas.com. A replay of the webcast will be available on the Arvinas website following the completion of the event and will be archived for up to 30 days.

About Arvinas
Arvinas (Nasdaq: ARVN) is a clinical-stage biotechnology company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases. Through its PROTAC (PROteolysis TArgeting Chimera) protein degrader platform, Arvinas is pioneering the development of protein degradation therapies designed to harness the body’s natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins. Arvinas, with its partner Pfizer, developed the first U.S. Food and Drug Administration (FDA) approved PROTAC, a type of heterobifunctional protein degrader, which has been outlicensed to Rigel Pharmaceuticals, Inc. for exclusive global development, manufacturing, and commercialization.

Arvinas is currently progressing multiple investigational drugs through clinical development programs, including ARV-393, targeting BCL6 for relapsed/refractory non-Hodgkin Lymphoma; ARV-102, targeting LRRK2 for neurodegenerative disorders; ARV-027, targeting the polyglutamine-expanded androgen receptor, or polyQ-AR, in skeletal muscle for the treatment of Spinal-Bulbar Muscular Atrophy, also known as Kennedy’s disease; and ARV-6723, targeting HPK1 for advanced solid tumors. Arvinas has also advanced ARV-806, targeting KRAS G12D for solid tumors, in the clinic, and previously announced plans to seek an out-licensing agreement for any additional clinical trials of ARV-806, including dose expansion or combination clinical trials. Arvinas is headquartered in New Haven, Connecticut. For more information about Arvinas, visit www.arvinas.com and connect on LinkedIn and X.

About ARV-393
ARV-393 is an investigational, orally bioavailable PROTAC designed to specifically target and degrade B-cell lymphoma 6 protein (BCL6), a transcriptional repressor and major driver of B-cell lymphomas. During B-cell development, tightly controlled BCL6 protein expression regulates >600 genes to facilitate rapid B-cell proliferation and tolerance of somatic hypermutation and gene recombination for antibody generation. Deregulated BCL6 expression is common in B-cell lymphoma and promotes cancer cell survival, proliferation, and genomic instability. PROTAC-mediated degradation has the potential to address the historically undruggable nature of BCL6. ARV-393 is currently being evaluated in a Phase 1 clinical trial as a monotherapy in patients with relapsed/refractory non-Hodgkin lymphoma and in in combination with glofitamab as a chemotherapy-free combination approach in patients with DLBCL.

About ARV-027
ARV-027 is an oral, peripherally restricted investigational PROTAC degrader designed to selectively target and eliminate the polyglutamine-expanded androgen receptor (polyQ-AR) in skeletal muscle. ARV-027 is a clinical candidate specifically selected for potent in vitro reduction of cytosolic and nuclear polyQ-AR and for favorable skeletal-muscle exposure following oral administration. The polyQ-AR protein is the pathogenic driver of spinal and bulbar muscular atrophy (SBMA), a rare, X-linked, genetically defined neuromuscular disease caused by a CAG trinucleotide repeat expansion in the androgen receptor (AR) gene. SBMA leads to progressive muscle weakness, dysphagia, and functional decline, and currently has no approved disease-modifying therapies approved by the FDA or EMA, representing a significant unmet medical need. ARV-027 is currently being evaluated in a fist-in-human Phase 1 clinical trial in healthy volunteers.

About ARV-6723
ARV-6723 is an investigational, oral PROTAC designed to degrade hematopoietic progenitor kinase 1 (HPK1) and is Arvinas’ first clinical candidate in the immuno-oncology space. HPK1 is a negative regulator of immune activation expressed across multiple immune cell types, including T cells, B cells, natural killer cells, and dendritic cells. Preclinically, ARV-6723 demonstrated potent, selective HPK1 degradation and greater tumor growth inhibition across low- and high-immunogenic tumor models, including anti-PD-1 resistant tumor models. By removing HPK1, ARV-6723 may address both its kinase-dependent and kinase-independent functions and enhance antitumor immune activity. ARV-6723 is currently being evaluated in a first-in-human Phase 1/2 clinical trial in patients with advanced solid tumors.

About ARV-102
ARV-102 is an investigational, orally bioavailable PROteolysis TArgeting Chimera (PROTAC) designed to cross the blood-brain barrier and specifically target and degrade leucine-rich repeat kinase (LRRK2), a large, multidomain scaffolding kinase with GTPase activity. Increased activity and over expression of LRRK2 have been implicated in the pathogenesis of neurological diseases, including LRRK2 genetic and idiopathic Parkinson’s disease and progressive supranuclear palsy (PSP). ARV-102 has been evaluated in a Phase 1 clinical trial in healthy volunteers and in patients with Parkinson’s disease.

Non-GAAP Financial Information
The results presented in this press release include both Generally Accepted Accounting Principles (GAAP) information and non-GAAP information. As used in this release, non-GAAP research and development (“R&D”) expense is defined by Arvinas as GAAP R&D expense excluding restructuring and stock-based compensation expense, and non-GAAP general and administrative (G&A) expense is defined by Arvinas as GAAP G&A expense excluding restructuring and stock-based compensation expense. Arvinas uses these non-GAAP financial measures to evaluate Arvinas’ ongoing operations and for internal planning and forecasting purposes. Arvinas believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Other companies, including companies in Arvinas’ industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of Arvinas’ non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate Arvinas’ business

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding: Arvinas’ belief that key clinical milestones will demonstrate the promise of its clinical-stage protein degraders; the potential to deliver transformative medicines for patients; that the upcoming data from Arvinas’ BCL6, polyQ-AR, and HPK1 degraders will begin to define the opportunity for these programs to change the treatment landscape; Arvinas’ plans to share clinical data from ARV-393, ARV-027 and ARV-6723 in the fourth quarter of 2026 and in 2027; the therapeutic potential or potential benefits of Arvinas’ product candidates and potential of its pipeline; Arvinas’ anticipated milestones, expectations and plans with respect to ARV-393, ARV-027, ARV-6723, and ARV-102, including timings related to anticipated enrollment or initiation of trials and sharing or presentation of data as well as forums for presenting any such data; Arvinas’ plans to seek an out-license of ARV-806 for further development, including any dose expansion or combination clinical trials; statements regarding Arvinas’ cash, cash equivalents and marketable securities, including their sufficiency to fund planned operating expenses and capital expenditure requirements into the second half of 2028; and Arvinas’ belief that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. All statements, other than statements of historical fact, contained in this press release, including statements regarding Arvinas’ strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “target,” “goal,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Arvinas may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on such forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Arvinas makes as a result of various risks and uncertainties, including but not limited to: whether Arvinas will be able to successfully conduct and complete development for its product candidates, including ARV-393, ARV-027, ARV-6723 and ARV-102, including whether Arvinas initiates and completes clinical trials for its product candidates and receives results from its clinical trials and preclinical studies on its expected timelines or at all; Rigel’s performance of its obligations under the license agreement with Arvinas and Pfizer Inc.; the potential demand and market potential and acceptance of any of Arvinas’ product candidates, including estimates regarding the potential market opportunity; the competitive landscape for Arvinas’ product candidates; risks related to Arvinas’ expectations regarding the potential clinical benefit of its product candidates; the uncertainties inherent in research and development, including preclinical study or clinical trial results; risks and uncertainties relating to regulatory applications and related approval timelines; the risk that any regulatory approval may be subject to significant limitations on use or subject to withdrawal or other adverse actions by the applicable regulatory authority; regulatory actions or delays or government regulation generally; Arvinas’ ability to protect its intellectual property portfolio; Arvinas’ reliance on third parties; early termination of any of Arvinas’ collaborations; whether Arvinas will be able to raise capital when needed; whether Arvinas’ cash and cash equivalent resources will be sufficient to fund its foreseeable and unforeseeable operating expenses and capital expenditure requirements; and other important factors discussed in the “Risk Factors” section of Arvinas’ Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent other reports on file with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release reflect Arvinas’ current views with respect to future events, and Arvinas assumes no obligation to update any forward-looking statements, except as required by applicable law. These forward-looking statements should not be relied upon as representing Arvinas’ views as of any date subsequent to the date of this release.

Contacts

Investors:
Jeff Boyle
+1 (347) 247-5089
Jeff.Boyle@arvinas.com

Media:
Kirsten Owens
+1 (203) 584-0307
Kirsten.Owens@arvinas.com

Arvinas, Inc. Condensed Consolidated Balance Sheets (Unaudited)
(dollars and shares in millions, except per share amounts)	September 30, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	88.0			$	142.9
Marketable securities		470.4				542.5
Accounts receivable		1.8				1.0
Other receivables		3.5				5.4
Prepaid expenses and other current assets		23.9				8.9
Total current assets		587.6				700.7
Property, equipment and leasehold improvements, net		4.6				5.2
Operating lease right-of-use assets		6.8				8.2
Contract and other assets		8.5				3.8
Total assets	$	607.5			$	717.9
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and accrued liabilities	$	39.9			$	69.5
Deferred revenue		—				71.3
Current portion of collaboration liability		28.2				—
Current portion of operating lease liabilities		1.9				1.7
Total current liabilities		70.0				142.5
Deferred revenue		—				134.3
Collaboration liability		18.2				—
Long-term debt		0.2				0.4
Operating lease liabilities		5.3				6.8
Total liabilities		93.7				284.0
Stockholders’ equity:
Preferred stock, $0.001 par value, zero shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively		—				—
Common stock, $0.001 par value; 75.5 shares issued and 65.5 shares outstanding as of September 30, 2026, and 73.5 shares issued and 63.5 outstanding as of December 31, 2025		0.1				0.1
Accumulated deficit		(1,554.5	)			(1,612.4	)
Additional paid-in capital		2,161.8				2,136.9
Accumulated other comprehensive (loss) income		(1.7	)			1.2
Treasury Stock, at cost (10.0 shares as of September 30, 2026 and December 31, 2025)		(91.9	)			(91.9	)
Total stockholders’ equity		513.8				433.9
Total liabilities and stockholders’ equity	$	607.5			$	717.9

Arvinas, Inc. Condensed Consolidated Statements of Operations (Unaudited)
	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(dollars and shares in millions, except per share amounts)		2026				2025				2026				2025
Revenue	$	0.5			$	41.9			$	265.8			$	253.1
Operating expenses:
Cost of license revenue		0.1				—				9.1				—
Research and development		46.9				64.7				159.8				224.1
General and administrative		12.6				21.0				55.7				72.9
Total operating expenses		59.6				85.7				224.6				297.0
(Loss) income from operations		(59.1	)			(43.8	)			41.2				(43.9	)
Interest and other income		5.4				9.0				17.2				30.6
Net (loss) income before income taxes		(53.7	)			(34.8	)			58.4				(13.3	)
Income tax expense		(0.2	)			(0.3	)			(0.5	)			(0.1	)
Net (loss) income	$	(53.9	)		$	(35.1	)		$	57.9			$	(13.4	)
(Loss) earnings per common share
Basic	$	(0.82	)		$	(0.48	)		$	0.89			$	(0.18	)
Diluted	$	(0.82	)		$	(0.48	)		$	0.88			$	(0.18	)
Weighted average common shares outstanding
Basic		65.4				73.2				64.7				72.9
Diluted		65.4				73.2				65.7				72.9

Arvinas, Inc. Reconciliation of GAAP to Non-GAAP Information
	For the Three Months Ended September 30,							For the Nine Months Ended September 30,
(dollars in millions)	2026				2025			2026				2025
Research and development reconciliation
GAAP research and development expenses	$	46.9		$	64.7			$	159.8		$	224.1
Less: restructuring expense		—			0.4				0.6			1.0
Less: stock-based compensation expense (*)		2.6			7.4				9.3			27.4
Non-GAAP research and development expenses	$	44.3		$	56.9			$	149.9		$	195.7
General and administrative reconciliation
GAAP general and administrative expenses	$	12.6		$	21.0			$	55.7		$	72.9
Less: restructuring expense		—			(0.6	)			2.1			(0.3	)
Less: stock-based compensation expense (*)		3.4			7.0				12.9			17.3
Non-GAAP general and administrative expenses	$	9.2		$	14.6			$	40.7		$	55.9

(*) Excludes restructuring related stock-based compensation.

MENLO PARK, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) — Oruka Therapeutics, Inc. (“Oruka”) (Nasdaq: ORKA), a clinical-stage biotechnology company developing novel biologics designed to set a new standard for the treatment of chronic skin diseases including plaque psoriasis and hidradenitis suppurativa, today announced its participation and presentation at multiple upcoming conferences:

Guggenheim 3^rd Annual Healthcare Innovation Conference
Date: November 10, 2026
Presentation Time: 11:00 AM EST

Stifel 2026 Healthcare Conference
Date: November 11, 2026
Presentation Time: 4:00 PM EST

UBS Global Biopharma Conference
Date: November 17, 2026
Presentation Time: 4:00 PM GMT

Jefferies Global Healthcare Conference
Date: November 18, 2026
Presentation Time: 4:30 PM GMT

Webcasts and replays of Oruka’s presentations will be available on the Oruka investor events website at https://ir.orukatx.com/news-events/events-presentations.

About Oruka Therapeutics
Oruka Therapeutics is developing novel biologics designed to set a new standard for the treatment of chronic skin diseases. Oruka’s mission is to offer patients suffering from inflammatory diseases like plaque psoriasis and hidradenitis suppurativa the greatest possible freedom from their condition by achieving high rates of disease clearance with dosing as infrequently as once or twice a year. For more information, visit www.orukatx.com and follow Oruka on LinkedIn.

Investor Contact: 
Alan Lada 
(650)-606-7911 
alan.lada@orukatx.com 

• Q3 2026 net revenues increased 4.4% on both an as-reported and constant currency basis⁽¹⁾, compared to Q3 2025
• Q3 2026 net income of $58 million or $0.20 per diluted share
• Q3 2026 Adjusted EBITDA⁽¹⁾ increased 3.9%, or 4.0% on a constant currency basis
• Q3 2026 Adjusted EPS⁽¹⁾ of $0.29, an increase of 12% per diluted share
• Reaffirming full-year 2026 net revenues growth outlook of 5.25% – 6.75% and Adjusted EBITDA growth outlook of 5.75% – 7.25%, both on a constant currency basis

CLEVELAND, Nov. 03, 2026 (GLOBE NEWSWIRE) — Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, today announced financial results for the three- and nine-months ended September 30, 2026.

“We are pleased with our third-quarter performance, which included solid top- and bottom-line constant currency growth, along with nearly 100 basis points of sequential Adjusted EBITDA margin expansion,” said Alton Shader, Chief Executive Officer. “Our performance was supported by year-over-year constant currency revenue growth of 8.2% at Sterigenics and 9.2% growth at Nelson Labs. We remain focused on being a trusted partner to our customers, combining exceptional service with the quality, reliability and technical expertise needed to support critical healthcare products and the patients who depend on them.”

Shader continued, “Based on our year-to-date performance and expectations for the remainder of the year, we are reaffirming our 2026 constant currency revenue and Adjusted EBITDA outlook.”

Third-Quarter 2026 Highlights
(All comparisons are against third quarter of 2025, unless otherwise noted)

• Delivered solid top- and bottom-line constant currency growth
• Sequential Adjusted EBITDA margin⁽¹⁾ improved nearly 100 basis points to 52.5%
• Sterigenics: 8.2% constant currency revenue growth; segment income margin improved 57 basis points
• Nelson Labs: 9.2% constant currency revenue growth
• Nordion: constant currency revenue down 11.5% due to expected Cobalt-60 (“Co-60”) harvest timing; segment income margins improved 71 basis points
• Net cash provided by operating activities of $111 million
• Continued deleveraging progress resulted in a Net Leverage Ratio⁽¹⁾ of 2.9x as of September 30, 2026, within the Company’s long-term goal of 2.0x to 3.0x
• Achieved a credit rating upgrade from Moody’s Ratings in early October, reflecting continued progress in strengthening the Company’s balance sheet and reducing leverage
• New Nelson Labs Annex-1 compliant cleanroom completed during the quarter

_{⁽¹⁾ This is a non-GAAP financial measure used throughout this press release; please refer to the section “Non-GAAP Financial Measures” for explanations of our non-GAAP financial measures and the schedules provided later in this release for reconciliations of reported GAAP to non-GAAP financial measures.¹}

Third-Quarter and Year-to-Date 2026 Highlights by Business Segment
(All comparisons are against the third quarter of 2025, unless otherwise noted)

Sterigenics

Sterigenics delivered strong third-quarter 2026 results, with net revenues up 8.5% to $209 million, or 8.2% on a constant currency basis. Segment income improved to $117 million, an increase of 9.6%. For the first nine months of 2026, Sterigenics net revenues increased 8.9% to $607 million, or 7.2% on a constant currency basis, compared to the same period in 2025. Segment income increased 9.6% to $332 million.

Net revenues growth for the third quarter was driven by pricing, improved volume and mix, and a foreign currency benefit. Segment income and segment income margin also benefited from these factors, partially offset by inflation.

Nordion

Nordion net revenues were $55 million for the third-quarter 2026, a decrease of 12.4%, or 11.5% on a constant currency basis, due to the expected year-over-year impact of Co-60 harvest schedules. Correspondingly, segment income decreased 11.4% to $34 million. For the first nine months of 2026, Nordion net revenues increased 6.1% to $146 million, or 6.2% on a constant currency basis, compared to the same period in 2025. Segment income increased 8.2% to $85 million.

The change in third-quarter net revenues and segment income for the quarter was driven by unfavorable volume and mix due to the expected timing of Co-60 harvest schedules and foreign exchange, partially offset by favorable pricing. Segment income margin improved, driven by operational productivity and favorable pricing, partially offset by inflation.

Nelson Labs

Nelson Labs delivered strong third-quarter 2026 net revenues growth of 8.8% to $61 million, or 9.2% on a constant currency basis. Nelson Labs third-quarter 2026 segment income increased 2.5% to $19 million. For the first nine months of 2026, Nelson Labs net revenues increased 4.9% to $173 million, or 3.7% on a constant currency basis, compared to the same period in 2025. Segment income decreased 2.4% to $54 million.

Net revenues and segment income growth for the third quarter were driven by favorable volume and mix as well as pricing, partially offset by foreign exchange. Segment income margin was impacted primarily by business mix.

Balance Sheet and Liquidity

As of September 30, 2026, Sotera Health had $2.2 billion of total debt and $412 million in unrestricted cash and cash equivalents, compared to $2.2 billion in total debt and $345 million of unrestricted cash and cash equivalents as of December 31, 2025. Sotera Health’s Net Leverage Ratio as of third-quarter 2026 improved to 2.9x, compared to 3.2x as of December 31, 2025.

Full-Year 2026 Outlook

• Net revenues in the range of $1.233 billion to $1.250 billion, representing constant currency growth of 5.25% to 6.75%.
• Adjusted EBITDA in the range of $632 million to $641 million, representing constant currency growth of 5.75% to 7.25%.
• Full-year Adjusted EBITDA margins approximately flat versus 2025.
• The foreign currency benefit to net revenues and Adjusted EBITDA has been revised to 70 basis points from 100 basis points in our previous outlook.
• Interest expense narrowed to a range of $137 million to $140 million.
• Tax rate applicable to Adjusted Net Income⁽²⁾ remains in the range of 27.0% to 28.0%.
• Adjusted EPS range remains in the range of $0.95 to $1.01.
• A weighted-average fully diluted share count remains in the range of 289 million to 291 million shares.
• Capital expenditures remain in the range of $200 million to $225 million.

The Company does not provide a reconciliation for non-GAAP financial measures on a forward-looking basis where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items without unreasonable effort. The Company cannot reconcile its expected Adjusted EBITDA, Tax Rate Applicable to Adjusted Net Income, Adjusted Net Income and Adjusted EPS without unreasonable effort because certain items that impact net income, earnings per share and other reconciling metrics are out of the Company’s control and/or cannot be reasonably predicted at this time, including uncertainties caused by changes to the regulatory landscape, restructuring items and certain fair value measurements, all of which are potential adjustments for future earnings.

The outlook provided above contains a number of assumptions, including, among others, the Company’s current expectations regarding supply chain continuity, particularly for the supply of ethylene oxide (“EO”) and Co-60, and the impact of inflationary trends, including their impact on energy prices and the supply of labor. Our outlook is based on current plans and expectations and is subject to several known and unknown risks and uncertainties, including those set forth below under “Cautionary Note Regarding Forward-Looking Statements.”

Earnings Webcast

Sotera Health management will host a conference call and live webcast to discuss the Company’s operating highlights and financial results at 9:00 a.m. Eastern Daylight Time today. A live webcast of the conference call will be accessible at this link or via the Investor Relations section of the Company’s website at Presentation & Events | Sotera Health, along with accompanying materials. A replay of the webcast will be archived on the Company’s website.

Upcoming Events

• Jefferies London Healthcare Conference at 12:00 p.m. Greenwich Mean Time, November 18, 2026
• Piper Sandler 36th Annual Healthcare Conference at 11:00 a.m. Eastern Time, December 2, 2026

Cautionary Note Regarding Forward-Looking Statements
Unless expressly indicated or the context requires otherwise, the terms “Sotera Health,” “Company,” “we,” “us,” and “our” in this release refer to Sotera Health Company, a Delaware corporation, and, where appropriate, its subsidiaries on a consolidated basis. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and reflects management’s expectations about future events and the Company’s operating plans and performance and speaks only as of the date hereof. Forward-looking statements present our current forecasts and estimates of future events. These statements do not strictly relate to historical or current results and can be identified by words such as “anticipate,” “appear,” “assume,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “plan,” “project,” “seek,” “should,” “strategy,” “will” and other terms of similar meaning or import in connection with any discussion of future operating, financial or other performance. These forward-looking statements are subject to risks, uncertainties and other factors and actual results may differ materially from those results projected in the statements. These forward-looking statements are subject to various risks, uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. These risks and uncertainties include, but are not limited to, a disruption in the availability or supply of, or increases in the price of, EO, Co-60 or our other direct materials, services and supplies, including as a result of geopolitical instability and/or sanctions against Russia by the United States, Canada, the United Kingdom and/or the European Union, or sanctions by Russia against those countries; fluctuations in foreign currency exchange rates; evolving changes in environmental, health and safety regulations; health and safety risks associated with the use, storage, transportation and disposal of potentially hazardous materials such as EO and Co-60; the impact and outcome of current and future legal proceedings and liability claims, including litigation related to the use, emissions and releases of EO from our current and former EO sterilization facilities and the possibility that additional claims will be made in the future; allegations of our failure to properly perform services and potential product liability claims, recalls, penalties and reputational harm; compliance with the extensive regulatory requirements to which we are subject, the related costs, and any failures to receive or maintain, or delays in receiving, required clearances or approvals; adverse changes in industry trends; competition we face; market conditions and changes, including inflationary trends and the impact of tariffs, that impact our long-term supply contracts with variable price clauses and increase our cost of revenues; business continuity hazards, including supply chain disruptions, federal government shutdowns, and other risks associated with our operations; the risks of doing business internationally, including global and regional economic and political instability and compliance with various applicable laws and potentially inconsistent laws and regulations in multiple jurisdictions; our ability to increase capacity at existing facilities, build new facilities in a timely and cost-effective manner and renew leases for our leased facilities; our ability to attract and retain qualified employees; severe health events or environmental events; cybersecurity incidents, unauthorized data disclosures, and our dependence on information technology systems; the risks associated with the introduction of artificial intelligence technology; an inability to pursue strategic transactions, find suitable acquisition targets, or integrate strategic acquisitions into our business successfully; our ability to maintain effective internal control over financial reporting; our reliance on intellectual property rights to maintain our competitive position and the risk of claims from third parties that we have infringed or misappropriated, or are infringing or misappropriating, their intellectual property rights; our ability to comply with rapidly evolving data privacy and security laws and regulations in various jurisdictions and any ineffective compliance efforts with such laws and regulations; our ability to generate profitability in future periods; impairment charges on our goodwill and other intangible assets with indefinite lives, as well as other long-lived assets and intangible assets with definite lives; the effects of unionization efforts and labor regulations in countries in which we operate; adverse changes to our tax positions in U.S. or non-U.S. jurisdictions or the interpretation and application of U.S. tax legislation or other changes in U.S. or non-U.S. taxation of our operations; and our significant degree of leverage and how this leverage could adversely affect our ability to raise additional capital, limit our ability to react to challenges facing our Company or broader changes in our industry or the economy, limit our flexibility in operating our business through restrictions contained in our debt agreements and/or prevent us from meeting our obligations under our existing and future agreements governing our indebtedness. For additional discussion of these risks and uncertainties, please refer to the Company’s filings with the Securities and Exchange Commission, such as its Annual Report on Form 10-K and quarterly reports. We do not undertake any obligation to publicly update or revise these forward-looking statements, except as otherwise required by law.

_{⁽²⁾This is a non-GAAP financial measure used throughout this press release; please refer to the section “Non-GAAP Financial Measures” for explanations of our Non-GAAP financial measures and the schedules provided later in this release for reconciliations of reported GAAP to Non-GAAP financial measures.}

Non-GAAP Financial Measures

To supplement our consolidated financial statements presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), we consider Adjusted EBITDA, Adjusted EBITDA margin, Tax Rate Applicable to Adjusted Net Income, Adjusted Net Income, Adjusted EPS, Net Debt, Net Leverage Ratio and constant currency, each of which is a financial measure not based on any standardized methodology prescribed by GAAP.

• We define Adjusted Net Income as net income (loss) before amortization and certain other adjustments that we do not consider in our evaluation of our ongoing operating performance from period to period.
• We define Adjusted EBITDA as Adjusted Net Income before interest expense, depreciation (including depreciation of Co-60 used in our operations) and income tax provision applicable to Adjusted Net Income.
• Adjusted EBITDA margin is equal to Adjusted EBITDA divided by net revenues.
• We define Adjusted EPS as Adjusted Net Income divided by the weighted average number of diluted shares outstanding.
• Our Net Debt is equal to our total debt, net of unamortized debt issuance costs and debt discounts, less cash and cash equivalents.
• Our Net Leverage Ratio is equal to Net Debt divided by Adjusted EBITDA.
• Tax Rate Applicable to Adjusted Net Income represents the difference between the income tax provision as determined under U.S. GAAP and the income tax benefit/provision associated with pre-tax adjustments used to calculate Adjusted Net Income.

Constant currency is a non-GAAP financial measure we use to assess performance excluding the impact of foreign currency exchange rate changes. We calculate constant currency net revenues by translating prior year net revenues in local currency at the average exchange rates applicable for the current period. The translated results are then used to determine year-over-year percentage increases or decreases. We generally refer to such amounts calculated on a constant currency basis as excluding the impact of foreign currency exchange rates. These results should be considered in addition to, not as a substitute for, results reported in accordance with GAAP. Results on a constant currency basis, as we present them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with GAAP.

We use these non-GAAP financial measures as the principal measures of our operating performance. Management believes these measures allow management to more effectively evaluate our operating performance and compare the results of our operations from period to period without the impact of certain non-cash items and non-routine items that we do not expect to continue at the same level in the future and other items that are not core to our operations. We believe that these measures are useful to our investors because they provide a more complete understanding of the factors and trends affecting our business than could be obtained without these measures and their disclosure. In addition, we believe these measures will assist investors in making comparisons to our historical operating results and analyzing the underlying performance of our operations for the periods presented. Our management also uses these measurements in their financial analysis and operational decision-making and Adjusted EBITDA serves as the key metric for the attainment of our primary annual incentive program. These measures may be calculated differently from, and therefore may not be comparable to, a similarly titled measure used by other companies.

About Sotera Health

Sotera Health Company is a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry. Sotera Health goes to market through three businesses – Sterigenics^®, Nordion^® and Nelson Labs^®. Sotera Health is committed to its mission, Safeguarding Global Health^®.

Updates on recent developments in matters relevant to investors can be found on the Investor Relations section of the Sotera Health website at Investor Relations | Sotera Health. For developments related to EO, updates can be found at Ethylene Oxide | Sotera Health.

INVESTOR RELATIONS CONTACTS

Jason Peterson
Vice President Investor Relations, Sotera Health
IR@soterahealth.com

MEDIA CONTACTS

Kristin Gibbs
Chief Marketing Officer, Sotera Health
kgibbs@soterahealth.com

Source: Sotera Health Company

Sotera Health Company Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Revenues:
Service	$	277,092			$	255,529			$	797,025			$	736,713
Product		47,794				55,783				129,281				123,463
Total net revenues		324,886				311,312				926,306				860,176
Cost of revenues:
Service		127,098				114,337				372,766				335,259
Product		16,999				19,414				47,719				45,303
Total cost of revenues		144,097				133,751				420,485				380,562
Gross profit		180,789				177,561				505,821				479,614
Selling, general and administrative expenses		64,140				63,294				200,507				195,248
Amortization of intangible assets		3,004				3,090				9,050				27,715
Illinois EO litigation settlements		—				—				—				64,943
Interest expense, net		34,122				39,147				103,272				120,674
Loss on refinancing of debt		—				1,087				936				1,167
Foreign exchange gain, net		(1,095	)			(1,528	)			(5,412	)			(612	)
Other income, net		(3,114	)			(464	)			(6,928	)			(6,530	)
Income before income taxes		83,732				72,935				204,396				77,009
Provision for income taxes		25,341				24,535				65,773				33,907
Net income		58,391				48,400				138,623				43,102
Earnings per share:
Basic	$	0.20			$	0.17			$	0.49			$	0.15
Diluted		0.20				0.17				0.48				0.15
Weighted average number of common shares outstanding:
Basic		285,997				284,067				285,557				283,855
Diluted		289,217				286,745				288,271				286,019

Sotera Health Company Segment Data (in thousands) (unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Segment revenues:
Sterigenics	$	209,305			$	192,845			$	607,011			$	557,368
Nordion		55,024				62,805				146,182				137,793
Nelson Labs		60,557				55,662				173,113				165,015
Total net revenues	$	324,886			$	311,312			$	926,306			$	860,176
Segment income:
Sterigenics	$	117,487			$	107,155			$	332,026			$	302,904
Nordion		33,724				38,048				85,415				78,947
Nelson Labs		19,454				18,987				53,616				54,913
Total segment income		170,665				164,190				471,057				436,764
Less adjustments:
Interest expense, net		34,122				39,147				103,272				120,674
Depreciation and amortization(a)		32,450				28,290				96,522				103,972
Share-based compensation(b)		7,791				8,047				29,616				23,465
Loss on refinancing of debt(c)		—				1,087				936				1,167
Gain on foreign currency and derivatives not designated as hedging instruments, net(d)		(2,101	)			(167	)			(5,747	)			(1,294	)
Business optimization expenses(e)		2,387				3,098				5,267				7,575
Professional services relating to EO sterilization facilities(f)		11,656				11,152				34,860				37,515
Illinois EO litigation settlements(g)		—				—				—				64,943
Accretion of asset retirement obligation(h)		628				601				1,935				1,738
Consolidated income before income taxes	$	83,732			$	72,935			$	204,396			$	77,009

(a)	Includes depreciation of Co-60 held at gamma irradiation sites, and excludes accelerated depreciation associated with business optimization activities.
(b)	Represents share-based compensation expense related to employees and non-employee Directors.
(c)	Represents the write-off of unamortized debt issuance costs and discounts, as well as certain other costs incurred related to the Term Loans and the Revolving Credit Facility.
(d)	Represents the effects of (i) fluctuations in foreign currency exchange rates and (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion.
(e)	Represents (i) certain costs related to divestitures, acquisitions and the integration of acquisitions, (ii) professional fees and other costs associated with business optimization, cost saving and other process enhancement projects, and (iii) legal, consulting, and other fees associated with the secondary offerings and shareholder engagement.
(f)	Represents litigation and other professional fees associated with our EO sterilization facilities.
(g)	Represents (i) the cost to settle 97 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on April 3, 2025 and (ii) the cost to settle 129 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on July 23, 2025.
(h)	Represents non-cash accretion of asset retirement obligations (“ARO”) related to Co-60 gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities and are accreted over the life of the asset.

Sotera Health Company Condensed Consolidated Balance Sheets (in thousands) (unaudited)
	As of September 30,			As of December 31,
	2026			2025
Assets
Current assets:
Cash and cash equivalents	$	412,393		$	346,456
Accounts receivable, net		152,771			139,329
Inventories, net		49,629			54,375
Other current assets		86,235			73,250
Total current assets		701,028			613,410
Property, plant, and equipment, net		1,198,761			1,130,564
Operating lease assets		29,242			33,393
Other intangible assets, net		264,837			288,227
Goodwill		1,091,217			1,103,232
Other assets		102,317			94,364
Total assets	$	3,387,402		$	3,263,190
Liabilities and equity
Total current liabilities	$	223,688		$	249,584
Long-term debt, less current portion		2,123,216			2,126,724
Other noncurrent liabilities		213,913			209,772
Deferred income taxes		93,342			71,075
Total liabilities		2,654,159			2,657,155
Total equity		733,243			606,035
Total liabilities and equity	$	3,387,402		$	3,263,190

Sotera Health Company Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited)
	Nine Months Ended September 30,
		2026				2025
Operating activities:
Net income	$	138,623			$	43,102
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash items		150,412				121,455
Changes in operating assets and liabilities		(60,556	)			19,534
Net cash provided by operating activities		228,479				184,091
Investing activities:
Purchases of property, plant and equipment		(145,450	)			(87,319	)
Other investing activities		5,275				2,874
Net cash used in investing activities		(140,175	)			(84,445	)
Financing activities:
Payments on long-term borrowings		(7,097	)			(82,547	)
Payments of debt issuance costs		(1,140	)			(3,919	)
Shares withheld for employee taxes on equity awards		(9,359	)			(3,861	)
Other financing activities		618				(2,032	)
Net cash used in financing activities		(16,978	)			(92,359	)
Effect of exchange rate changes on cash and cash equivalents		(5,389	)			14,874
Net increase in cash and cash equivalents, including restricted cash		65,937				22,161
Cash and cash equivalents, including restricted cash, at beginning of period		346,456				278,865
Cash and cash equivalents, including restricted cash, at end of period	$	412,393			$	301,026
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	$	106,179			$	129,600
Cash paid during the period for income taxes, net of tax refunds received		39,795				47,607
Purchases of property, plant and equipment included in accounts payable		30,620				17,215

Sotera Health Company Non-GAAP Financial Measures (in thousands, except per share amounts) (unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net income	$	58,391			$	48,400			$	138,623			$	43,102
Amortization of intangible assets		5,526				5,648				16,691				36,246
Share-based compensation(a)		7,791				8,047				29,616				23,465
Loss on refinancing of debt(b)		—				1,087				936				1,167
Gain on foreign currency and derivatives not designated as hedging instruments, net(c)		(2,101	)			(167	)			(5,747	)			(1,294	)
Business optimization expenses(d)		2,387				3,098				5,267				7,575
Professional services relating to EO sterilization facilities(e)		11,656				11,152				34,860				37,515
Illinois EO litigation settlements(f)		—				—				—				64,943
Accretion of asset retirement obligation(g)		628				601				1,935				1,738
Income tax benefit associated with pre-tax adjustments(h)		(1,790	)			(2,596	)			(13,366	)			(44,081	)
Adjusted Net Income		82,488				75,270				208,815				170,376
Interest expense, net		34,122				39,147				103,272				120,674
Depreciation(i)		26,924				22,642				79,831				67,726
Income tax provision applicable to Adjusted Net Income(j)		27,131				27,131				79,139				77,988
Adjusted EBITDA(k)	$	170,665			$	164,190			$	471,057			$	436,764
Net Revenues	$	324,886			$	311,312			$	926,306			$	860,176
Adjusted EBITDA Margin		52.5	%			52.7	%			50.9	%			50.8	%
Weighted average number of shares outstanding:
Basic		285,997				284,067				285,557				283,855
Diluted		289,217				286,745				288,271				286,019
Earnings per share:
Basic	$	0.20			$	0.17			$	0.49			$	0.15
Diluted		0.20				0.17				0.48				0.15
Adjusted earnings per share:
Basic	$	0.29			$	0.26			$	0.73			$	0.60
Diluted		0.29				0.26				0.72				0.60

(a)	Represents share-based compensation expense related to employees and non-employee Directors.
(b)	Represents the write-off of unamortized debt issuance costs and discounts, as well as certain other costs incurred related to the Term Loans and the Revolving Credit Facility.
(c)	Represents the effects of (i) fluctuations in foreign currency exchange rates and (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion.
(d)	Represents (i) certain costs related to divestitures, acquisitions and the integration of acquisitions, (ii) professional fees and other costs associated with business optimization, cost saving and other process enhancement projects, and (iii) legal, consulting, and other fees associated with the secondary offerings and shareholder engagement.
(e)	Represents litigation and other professional fees associated with our EO sterilization facilities.
(f)	Represents (i) the cost to settle 97 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on April 3, 2025 and (ii) the cost to settle 129 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on July 23, 2025.
(g)	Represents non-cash accretion of ARO related to Co-60 gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities and are accreted over the life of the asset.
(h)	Represents the income tax impact of adjustments calculated based on the tax rate applicable to each item. We eliminate the effect of tax rate changes as applied to tax assets and liabilities and unusual items from our presentation of Adjusted Net Income.
(i)	Includes depreciation of Co-60 held at gamma irradiation sites, and excludes accelerated depreciation associated with business optimization activities.
(j)	Represents the difference between the income tax provision as determined under U.S. GAAP and the income tax benefit associated with pre-tax adjustments described in footnote (h).
(k)	$27.6 million and $24.1 million of the adjustments for the three months ended September 30, 2026 and 2025, respectively, and $82.8 million and $72.7 million of the adjustments for the nine months ended September 30, 2026 and 2025, respectively, are included in cost of revenues, primarily consisting of amortization of intangible assets, depreciation, and accretion of ARO.

Sotera Health Company Non-GAAP Financial Measures ($’s in thousands) (unaudited)
	As of September 30,				As of December 31,
		2026				2025
Current portion of long-term debt	$	13,933			$	13,973
Long-term debt		2,123,216				2,126,724
Current portion of finance leases		3,565				3,465
Finance leases less current portion		103,546				93,835
Total Debt		2,244,260				2,237,997
Less: cash and cash equivalents		(412,384	)			(344,621	)
Net Debt	$	1,831,876			$	1,893,376
Adjusted EBITDA(a)	$	628,094			$	593,801
Net Leverage	2.9x				3.2x

(a)	Represents Adjusted EBITDA for the twelve months ended September 30, 2026 and December 31, 2025, respectively. Refer to the reconciliation of net income (the most comparable GAAP measure) to Adjusted EBITDA on the following page.

Sotera Health Company Non-GAAP Financial Measures (in thousands) (unaudited)
	Twelve Months Ended September 30,				Twelve Months Ended December 31,
		2026				2025
Net income	$	173,470			$	77,949
Amortization of intangible assets		22,243				41,798
Share-based compensation(a)		37,219				31,068
Loss on refinancing of debt(b)		1,231				1,462
(Gain) loss on foreign currency and derivatives not designated as hedging instruments, net(c)		(4,395	)			58
Business optimization expenses(d)		5,760				8,068
Professional services relating to EO sterilization facilities(e)		43,570				46,225
Illinois EO litigation settlements(f)		—				64,943
Accretion of asset retirement obligation(g)		2,518				2,321
Income tax provision (benefit) associated with pre-tax adjustments(h)		2,237				(28,478	)
Adjusted Net Income		283,853				245,414
Interest expense, net		138,320				155,722
Depreciation(i)		106,735				94,630
Income tax provision applicable to Adjusted Net Income(j)		99,186				98,035
Adjusted EBITDA(k)	$	628,094			$	593,801
Net revenues	$	1,229,747			$	1,163,617
Adjusted EBITDA margin		51.1	%			51.0	%

(a)	Represents share-based compensation expense related to employees and non-employee Directors.
(b)	Represents the write-off of unamortized debt issuance costs and discounts, as well as certain other costs incurred related to the Term Loans and the Revolving Credit Facility.
(c)	Represents the effects of (i) fluctuations in foreign currency exchange rates and (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion.
(d)	Represents (i) certain costs related to divestitures, acquisitions and the integration of acquisitions, (ii) professional fees and other costs associated with business optimization, cost saving and other process enhancement projects, and (iii) legal, consulting, and other fees associated with the secondary offerings and shareholder engagement.
(e)	Represents litigation and other professional fees associated with our EO sterilization facilities.
(f)	Represents (i) the cost to settle 97 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on April 3, 2025 and (ii) the cost to settle 129 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on July 23, 2025.
(g)	Represents non-cash accretion of ARO related to Co-60 gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities and are accreted over the life of the asset.
(h)	Represents the income tax impact of adjustments calculated based on the tax rate applicable to each item. We eliminate the effect of tax rate changes as applied to tax assets and liabilities and unusual items from our presentation of Adjusted Net Income.
(i)	Includes depreciation of Co-60 held at gamma irradiation sites and excludes accelerated depreciation associated with business optimization activities.
(j)	Represents the difference between the income tax provision as determined under GAAP and the income tax provision (benefit) associated with pre-tax adjustments described in footnote (h).
(k)	$110.0 million and $99.9 million of the adjustments for the twelve months ended September 30, 2026 and December 31, 2025, respectively, are included in cost of revenues, primarily consisting of amortization of intangible assets, depreciation, and accretion of asset retirement obligations.