Tag: GlobeNewswire

Foremost receives proceeds of $650,000 and retains 20% interest in GR and Blackwing properties, with 6-month grace period for initial JV expenditures

VANCOUVER, British Columbia, Nov. 03, 2026 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”) is pleased to report that it has closed a transaction with Denison Mines Corp. (“Denison”) resulting in, among other things, the sale of a 31% interest in the GR and Blackwing properties (together, the “Properties”), the formation of two exploration joint ventures (“JVs”), and the issuance of 1,031,191 share purchase warrants (the “Warrants”) in exchange for total cash consideration of $650,000 (collectively, the “Transaction”). The Warrants have an exercise price of $1.80 per warrant share, which represents over a 175% premium to Foremost’s closing share price on October 22, 2026, the date on which the Transaction was announced, and have a 5-year term.

David Cates, Interim CEO of Foremost, commented, “The GR and Blackwing properties are located in the northwestern portion of the Athabasca Basin region and are situated along the Grease River shear zone and the Black Bay fault, respectively – both of which are geologically prospective areas that have historically been subject to little or no exploration and that have the potential to become new areas of exploration focus in the region. Forming the GR and Blackwing joint ventures with Denison is an ideal arrangement for Foremost, whereby the Company receives $650,000 in cash proceeds while retaining exposure to potential future exploration success from the Properties without having to fund the full cost of exploration. Importantly, the proceeds from the Transaction are expected to be used largely to fund Foremost’s recently commenced exploration program at the Turkey Lake property.”

GR & Blackwing Highlights

• Foremost and Denison have formed two exploration JVs, with Foremost holding a 20% ownership interest in each of the Properties.
• The GR property consists of 16 mineral claims covering 78,585 hectares, and the Blackwing property consists of 3 mineral claims covering 12,627 hectares (see Figure 1).
• Denison is responsible for funding its share of future expenditures (currently 80%), per the JV agreements, and has committed to either carry out geophysical studies or make deficiency deposits to maintain the Properties until at least January 4, 2028 (the “Initial Expenditures”).
• Foremost expects Denison will carry out geophysical studies within the next 12 months to further define the exploration potential of the Properties and generate future drill targets.
• Foremost has the option to decide, within 6 months of the earlier of the completion of the initial geophysical surveys and the date of the last of the Initial Expenditures, to (i) fund its share of the Initial Expenditures or (ii) dilute its ownership pursuant to the terms of the JVs.

Figure 1. GR & Blackwing Properties

Warrant Terms

• Foremost issued 1,031,191 Warrants to Denison with an exercise price of $1.80 per warrant share and a term of 5 years (the “Term”). The number of Warrants exercisable by Denison at any time is limited to such number of Warrants that, if exercised, would not result in Denison’s ownership of Foremost exceeding 19.95% (the “Ownership Cap”).
• The exercise price of $1.80 represents over a 175% premium to Foremost’s closing share price of $0.64 on October 22, 2026, the date on which the Transaction was announced.
• At maturity, if exercise of any remaining Warrants would result in the holder exceeding the Ownership Cap, then Foremost will either (a) apply for and obtain an extension of the Term of the Warrants for such duration as may be approved by the Canadian Securities Exchange, or (b) purchase from the holder any remaining Warrants not exercisable due to the Ownership Cap based on the differential between the exercise price and the current market price for each warrant share.
• The Warrants are subject to a four-month hold period expiring on March 3, 2027 and thereafter will be transferable.

Amended & Restated Option Agreement

• The Option Agreement entered into between Denison and Foremost on September 23, 2024 (the “Original Option Agreement”) included 10 properties and has been amended and restated (the “A&R Option Agreement”) to exclude the Properties such that Foremost no longer has any right to increase its ownership interest in those two Properties.
• Accordingly, any subsequent expenditures incurred by Foremost in connection with the Properties will be governed by the applicable JV agreements and will not count towards satisfaction of Option Tranche 3 under, and as defined in, the A&R Option Agreement.
• The A&R Option Agreement preserves Foremost’s right to complete Option Tranche 3 and earn an additional 19% interest (for an aggregate interest of 70%) in 7 of the remaining 8 properties under option from Denison and a minimum 51% interest in Hatchet Lake, by (i) completing $12.0 million in eligible exploration expenditures on the remaining 8 properties by July 9, 2029, and (ii) paying Denison $2.5 million in additional consideration in cash, common shares of Foremost or a combination thereof.
• The full details of the A&R Option Agreement will be available under Foremost’s profile on SEDAR+ at www.sedarplus.ca.

Amended & Restated Investor Rights Agreement

• The amended and restated investor rights agreement between Denison and Foremost dated July 23, 2025, was further amended and restated to make certain other amendments of a housekeeping or administrative nature (the “Second A&R Investor Rights Agreement”).

Early Warning Requirements

Immediately prior to entry into the A&R Option Agreement, the Second A&R Investor Rights Agreement, and the acquisition of the Warrants, Denison owned or controlled 3,448,610 common shares of Foremost, representing approximately 19.9% of the issued and outstanding shares, and held 607,600 share purchase warrants to acquire an additional 607,600 shares, representing approximately 15.2% of the outstanding share purchase warrants of Foremost.

As a result of the acquisition of the Warrants, Denison owns or controls 3,448,610 common shares of Foremost, representing approximately 19.9% of the issued and outstanding shares and holds 1,638,791 share purchase warrants to acquire an additional 1,638,791 common shares, representing approximately 32.6% of the outstanding share purchase warrants of Foremost. The Warrants are subject to a restriction that Denison shall not be entitled to exercise any Warrants to the extent that, after giving effect to such exercise, Denison would beneficially own or exercise control or direction over more than 19.95% of the issued and outstanding Foremost shares at the time of exercise.

This press release and Denison’s corresponding early warning report (the “Early Warning Report”), which is expected to be filed on SEDAR+ in the near term, constitute the required disclosure pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids (“NI 62-104”). The Early Warning Report is being filed in connection with a change in material fact contained in Denison’s last early warning report dated July 9, 2026. The Warrants acquired by Denison pursuant to the foregoing transactions are being acquired for investment purposes. Denison may from time to time acquire additional securities, dispose of some or all of the existing or additional securities, or may continue to hold the securities of Foremost.

The Early Warning Report that will be filed on SEDAR+ in respect of the A&R Option Agreement, the Second A&R Investor Rights Agreement, and the Warrants will satisfy the requirement of section 5.2 of NI 62-104 to have the Early Warning Report filed by an acquiror, with the securities regulatory authorities in each of the jurisdictions in which Foremost is a reporting issuer and which contains the information required by section 3.1 of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which includes the information required by Form 62-103F1.   A copy of the Early Warning Report will be available under Foremost’s profile on SEDAR+ at www.sedarplus.ca.

Qualified Person

The technical content of this news release has been reviewed and approved by Cameron MacKay, P. Geo., Vice President of Exploration for Foremost Clean Energy Ltd., and a Qualified Person under National Instrument 43-101.

About Foremost

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a North American uranium, lithium, and gold exploration company strategically positioned to support the long-term growth in demand expected for reliable, carbon-free energy sources.

The Company has a portfolio of 10 property interests spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan, including an option from Denison to earn up to a 70% interest in 7 prospective uranium properties and a minimum 51% interest in the Hatchet Lake property, plus a minority ownership interest (20%) in the GR & Blackwing joint ventures with Denison.

The Company’s uranium exploration efforts benefit from access to extensive historic drilling and geophysical data for targeting high-potential, mineralized trends. To date, Foremost has completed geophysical surveys and multiple drill campaigns that have generated encouraging results and defined high-priority exploration targets for follow-up drilling.

Foremost also has a portfolio of lithium-focused projects at varying stages of development spanning 43,000+ acres in Manitoba, providing exposure to other critical materials essential in electrification and energy storage.

For further information, please visit the Company’s website at www.foremostcleanenergy.com.

Contact and Information

David Cates, Interim CEO
info@foremostcleanenergy.com

Investor Relations
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
1-800-REDCHIP (733-2447)
FMST@redchip.com

Follow us or contact us on social media:
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LinkedIn: https://www.linkedin.com/company/foremostcleanenergy  
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Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “estimates” or “intends,” or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements include, among others, statements with respect to: the expected use of the proceeds from the Transaction, including to fund the Company’s recently commenced exploration program at the Turkey Lake property; the Company maintaining its 20% interest in each of the Properties; Denison funding 80% of future expenditures and carrying out geophysical studies or making deficiency deposits to maintain the Properties until at least January 4, 2028; the expectation that Denison will carry out geophysical studies within the next 12 months and that such studies will further define the exploration potential of the Properties and generate future drill targets; the potential for the Properties to become a new area of exploration focus and the Company’s exposure to potential future exploration success; the Company’s election to fund its share of the Initial Expenditures or dilute its ownership interest; the exercise of the Warrants; the application of the Ownership Cap and any extension of the Term or purchase by the Company of Warrants not exercisable due to the Ownership Cap; the Company’s ability to complete Option Tranche 3 under the A&R Option Agreement, including completing $12.0 million in eligible exploration expenditures by July 9, 2029 and paying $2.5 million in additional consideration to Denison; the availability of the A&R Option Agreement on SEDAR+; filing of the Early Warning Report, including the timing thereof; and the long-term growth in demand expected for carbon-free energy sources.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, without limitation, that: the proceeds from the Transaction will be used as currently anticipated; Denison will perform its obligations under the joint venture agreements, the Warrants and the A&R Option Agreement; geophysical studies on the Properties will be carried out as expected and will yield results supporting further exploration; the Company will have access to sufficient capital, on acceptable terms, to fund its exploration programs, its share of joint venture expenditures (if it so elects) and the requirements of Option Tranche 3; the market price of the Company’s common shares will not change in a manner that adversely affects the Warrants or the Company’s obligations relating to the Ownership Cap; any required approval of the Canadian Securities Exchange for an extension of the Term will be obtained in a timely manner; there will be no material adverse change in uranium prices, general economic, market or industry conditions; and exploration and permitting activities will not be materially delayed by weather, regulatory or other factors.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release include, among others: the risk that the proceeds from the Transaction are used other than as currently anticipated or are insufficient to fund the Company’s planned exploration at the Turkey Lake property; the risk that Denison does not carry out geophysical studies or other expenditures on the Properties as anticipated, or that such studies do not identify drill targets or further define exploration potential; the inherent uncertainty of mineral exploration and the speculative nature of exploration-stage properties; the dilution of the Company’s interest in the joint ventures should it elect not to, or be unable to, fund its share of expenditures; the risk that the Company is required to purchase Warrants from Denison or that an extension of the Term is not approved; the potential dilution to shareholders resulting from the exercise of the Warrants; the Company’s inability to complete Option Tranche 3 or to fund the required expenditures and additional consideration under the A&R Option Agreement, and the consequences of any default thereunder; the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares; continuity of agreements with third parties, including Denison; fluctuations in uranium and other commodity prices and in the market price of the Company’s common shares; risks and uncertainties associated with the environment; and delays in obtaining governmental approvals, permits or financing. Additional factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission.

Although 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 statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company’s most recent filings under its profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov for further information respecting the risks affecting the Company and its business.

The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3a1f9c96-0fc8-4675-a11e-92ca714cf9a5

Drilling and Trenching Integrated with Airborne Geophysics to Refine Further Exploration Targets in Botswana

TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) — One Bullion Ltd. (TSXV: OBUL) (“One Bullion” or the “Company”), a gold exploration company holding complete ownership of three prospective exploration projects in Botswana, today announced a consolidated summary of historical drilling and trenching results from its wholly owned Vumba Gold Project in Botswana, along with an update on ongoing exploration work. The historical results which have not been previously disclosed in the Company’s news releases. They form part of the exploration database now being integrated with airborne geophysics and geological information from the 2026 drilling program.

“The historical results at Vumba provide an important addition to our understanding of the project and reinforce the exploration potential we see across the property,” said Adam Berk, Chief Executive Officer of One Bullion. “By bringing together previously undisclosed drilling and trenching results with our 2026 exploration data and airborne geophysics, we are building a more complete picture of the project’s gold mineralization and identifying opportunities to advance the highest-priority targets. We believe this integrated approach will help us deploy exploration capital more efficiently, focus future drilling on the most prospective areas and continue building value for shareholders.”

The consolidated data highlights gold mineralization at surface and in drilling, and places those results within the regional geological setting. The Company is integrating these historical results with its 2026 drilling data and airborne geophysics to better define the geological controls on mineralization, refine priority exploration targets and identify opportunities for follow-up drilling to evaluate the potential extensions and continuity of gold mineralization.

Highlights

• Reverse circulation drilling returned 26.0 m at 2.60 g/t gold in SR033 and 28.0 m at 1.47 g/t gold in SR083.
• Diamond hole SD071 returned 13.0 m at 8.52 g/t gold, including 1.0 m at 101.81 g/t gold. The composite is strongly influenced by this one-meter sample.
• One Bullion’s diamond drilling returned 1.0 m at 20.90 g/t gold in VUDD005 and 1.0 m at 15.25 g/t gold in VUDD016.
• Trench VUT004 returned 3.5 m at 18.79 g/t gold, including 2.5 m at 26.12 g/t gold, providing additional evidence of gold mineralization at surface.

Drill intervals are downhole lengths and trench intervals are sampled lengths along the trench. True widths have not been established.

Building on the Exploration Record

Vumba has progressed from surface prospecting and sampling of old workings to systematic soil sampling, trenching, reverse circulation and diamond drilling, and ground and airborne geophysics. That work has established a series of gold-bearing positions with differing grades and interval lengths. The 2026 program adds geological observations and a higher-resolution geophysical framework against which the earlier results can be assessed.

The regional setting also provides useful context. Gold mining in the Gwanda and Tati greenstone belts demonstrates the occurrence of gold deposits in the broader southern Zimbabwe Craton. At Vumba, the exploration case rests on the results obtained on the property and the opportunity to test the geological controls on those results.

Regional Gold Mines and the Vumba Setting

Vumba lies within the greenstone terrain of the southern Zimbabwe Craton in northeastern Botswana. Across the wider region, the Gwanda belt in Zimbabwe hosts Blanket, Vubachikwe, Jessie, Freda and Farvic, while the Tati belt in Botswana includes Mupane, Golden Eagle, Map Nora and Signal Hill. These are separate greenstone belts containing gold deposits in a range of host-rock and structural settings. Figure 1 locates these mines and deposits relative to Vumba and One Bullion’s Maitengwe project. [1–4]

Published resource estimates and historical production accounts illustrate the mining history and range of deposits in the region. Blanket’s June 2026 underground estimate contains 2.178 million ounces of measured and indicated gold resources, with inferred resources reported separately. The historical Mupane inventory provides a Botswana reference, while the reported production at Vubachikwe, Jessie and Freda records gold already recovered from other parts of the Gwanda belt. The figures below retain their original dates and reporting categories. [1–3]

Table 1 Selected published information for regional gold mines

Mine or Deposit	Published Figures	Date and Reporting Basis
Blanket Gwanda belt	Underground M&I: 17.674 Mt at 3.83 g/t; 2.178 million oz. Inferred: 6.940 Mt at 3.35 g/t; 748,000 oz.	Effective 30 June 2026; 100% project basis. Underground resources include reserves. [1]
Mupane Tati belt	M&I: 5.166 Mt at 1.42 g/t; 235,800 oz. Inferred: 4.378 Mt at 1.35 g/t; 190,700 oz. P&P reserves: 1.810 Mt at 2.07 g/t; 120,200 oz.	Effective 31 December 2021; historical inventory. Resources exclude reserves. Main resource inventory excludes slimes and includes a small stockpile. [2]
Vubachikwe Gwanda belt	1.04 million oz of reported historical gold production.	Historical production account reproduced in the 2017 Blanket technical report. [3]
Jessie Gwanda belt	12 tonnes of reported historical gold production, approximately 386,000 oz.	Historical production account reproduced in the 2017 Blanket technical report. [3]
Freda Gwanda belt	7,550 kg of reported historical gold production, approximately 243,000 oz.	Historical production account reproduced in the 2017 Blanket technical report. Freda in Gwanda, distinct from Freda Rebecca. [3]

M&I = measured and indicated; P&P = proven and probable; Mt = million tonnes; oz = troy ounces. Inferred resources are shown separately. Production, resources and reserves describe different quantities and have not been combined. The Mupane figures are historical and do not represent a current remaining inventory; Golden Eagle is included in that inventory. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The regional information is drawn from the cited third-party disclosures; the older production accounts are historical reports, rather than current resource estimates. Mineralization and economic results at these properties are not necessarily indicative of mineralization or economic potential at Vumba. Their relevance is to the regional geological setting and the history of gold exploration and mining.

Figure 1 Regional greenstone belts and gold mines

The enlarged Maitengwe–Vumba panel places the two projects in their geographic setting. Maitengwe’s reported 580.75 km² project area is a landholding measure. The approximately 39 km north–south survey extent and approximately 68 km north–south span from the northern edge of the Maitengwe survey footprint to Vumba Central are geographic distances, not demonstrated mineralized strike lengths. Geological outlines, mine positions and the digitized survey footprint are generalized; the survey outline is not a surveyed license boundary. Insets have separate scales. Source credits are shown on the map; Maitengwe survey coverage is from the Company’s 14 October 2026 announcement. [4]

Exploration History and Historical Drilling

Documented modern exploration at Vumba began in 2005 with surface prospecting and sampling of old workings and dumps. Soil sampling and trenching during 2006 and 2007 included 7,464 soil samples and 33 trenches. Between 2006 and 2009, historical drilling comprised 110 reverse circulation holes totaling 6,749 m and nine diamond holes totaling 1,180 m. Ground induced polarization and magnetic surveys were undertaken in 2008.

One Bullion completed further surface work and regional targeting during 2019-2021, followed by 16 diamond holes totaling 3,589.6 m in 2022. A high-resolution airborne geophysical survey completed in July 2026 added information on rock packages, contacts and structures. A new diamond drilling program commenced in August 2026.

These campaigns provide both broad reverse circulation intersections and narrower high-grade diamond-core samples. They are evidence of gold at the tested positions and provide reference points for the current interpretation. Selected historical results are shown below; the variation in grade and interval length is part of the geological question being investigated. [5]

Table 2 Selected historical drilling results at Vumba

Hole or Interval	Drill Program	From (m)	To (m)	Length (m)	Gold (g/t)
SR004	RC	37.00	47.00	10.00	2.18
SR033	RC	16.00	42.00	26.00	2.60
SR083	RC	0.00	28.00	28.00	1.47
SR083 including	RC	9.00	16.00	7.00	1.91
SR083 including	RC	18.00	28.00	10.00	2.47
SR084	RC	30.00	47.00	17.00	1.41
SR084 including	RC	43.00	46.00	3.00	4.65
SR085	RC	51.00	64.00	13.00	2.02
SD071	DD	39.00	52.00	13.00	8.52
SD071 including	DD	42.00	43.00	1.00	101.81
SD070	DD	13.32	13.55	0.23	14.76
SD074	DD	89.33	90.00	0.67	7.47
SD076	DD	95.00	96.10	1.10	4.19
VUDD005	DD	23.00	24.00	1.00	20.90
VUDD016	DD	58.00	59.00	1.00	15.25

RC = reverse circulation; DD = diamond drilling. All lengths are downhole; true widths are unknown. “Including” rows lie within the preceding parent interval and are not additional meters. Reported composites are length-weighted averages that include lower-grade internal samples. Gold grades are rounded to two decimal places. The SD071 composite is strongly influenced by the 1.0 m sample at 101.81 g/t gold. The VUDD005 and VUDD016 results shown use the reported gravimetric determinations.

The broader RC intersections include SR033 at Makoba and the SR004 and SR083–SR085 results in the North area. Their distribution gives the Company several positions from which to evaluate the relationship between mineralization, host rocks and structure. The high-grade sample within SD071 is reported alongside its enclosing interval so that its influence on the composite is clear.

Surface Results and Geological Interpretation

Historical trenching adds surface observations to the drill record. The results range from longer, lower-grade intervals to short high-grade sections, including VUT004. Together with geological mapping and the drill data, these observations help locate gold-bearing positions and assess their relationship to the surrounding rocks. Selected results are shown in Table 3. [5]

Table 3 Selected historical trenching results at Vumba

Trench or Interval	From (m)	To (m)	Length (m)	Gold (g/t)
ST013	142.00	146.00	4.00	3.14
ST017	0.00	20.00	20.00	0.85
ST025	62.00	72.00	10.00	1.84
VUT004	70.00	73.50	3.50	18.79
including VUT004	71.00	73.50	2.50	26.12
VUT005	85.10	86.00	0.90	9.88

From and to positions are measured along the trench. Sampled lengths are not established true widths. VUT004’s included 2.5 m interval uses the reported gravimetric assays; the 3.5 m parent interval also includes the adjoining 1.0 m sample grading 0.469 g/t gold. These are selected results and do not represent the average grade of the property.

Relating Known Gold Occurrences to the Airborne Data

The high-resolution airborne survey completed in July 2026 provides a common geophysical framework for comparing these historical occurrences. Magnetic patterns help trace rock packages, contacts and structural breaks, including features that may be difficult to follow from surface observations alone. The Company is assessing where the known gold-bearing positions coincide with those features and where similar geological settings warrant further testing. Magnetic response does not measure gold grade.

Figure 2 presents the first vertical derivative of reduced-to-pole magnetic data with hillshade and identifies four descriptive areas: North, Marula, Makoba and the southern Somerset / New Zone grouping. North includes the SR004–SR006 and SR083–SR086 area; Marula includes SR041, SR043 and SD076; and Makoba includes SR033 and SR088. The southern grouping includes Somerset, New Zone and the vicinity of VUDD016. It remains a provisional grouping for interpretation.

The four areas bring the historical evidence into a broader map presentation and are distinct from the three priority structural corridors identified for the initial 2026 drilling program. Their outlines organize the observations for further investigation; continuity within or between the areas has yet to be established. The Company is also integrating geological logs and multi-element geochemistry to assess gold associations with arsenic and sulfide mineralization and to distinguish host-rock packages.

This work will help define follow-up drilling to test specific geological relationships, including the orientation of mineralized structures, the position of higher-grade zones and the persistence of mineralization between existing drill holes and surface occurrences. Those questions connect the historical results to the next phase of exploration.

Figure 2 Vumba magnetic interpretation and historical gold occurrences

First vertical derivative of reduced-to-pole magnetic data with hillshade. Circles mark projected positions of selected assay intervals; squares mark gold-bearing collars where interval positions are unavailable. Dashed outlines are schematic interpretation guides and do not establish mineralized boundaries, true widths or continuity. The southern grouping is provisional. Base-image alignment and projected positions are approximate. Coordinates are WGS 84 / UTM zone 35S, shown in kilometers. Source: the Vumba project map and underlying exploration records.

Current Program and Next Steps

The 2026 diamond drilling phase has tested the Central and North Main areas. VUDD017 and VUDD018 were completed at Central, and VUDD019 tested North Main to a downhole depth of 315 m. The program has added core and geological observations to the historical exploration record.

During November, drilling is paused while the Company completes logging and sampling of existing core, progresses laboratory and check-assay work, and reviews the geological model. This includes the core from VUDD018 through VUDD020. The findings will guide the selection and sequencing of further work. Reverse circulation drilling is being considered for the next phase, with the scope and timing to be determined following the review.

The review will bring the new core observations, analytical work and airborne interpretation together with the historical drill and trench results. The next drilling decisions will depend on how consistently the observed geology and assays support the proposed structures and target areas. The aim is to improve the geological model and select follow-up tests that can establish the orientation and continuity of mineralization.

Analytical results from the 2026 program will be reported separately following the relevant technical review. The historical results in this release provide context for that work; further exploration is required to establish continuity, true widths and potential economic significance.

Historical Sampling and Data Verification

The historical results have been compiled from the Vumba exploration database, supporting assay records and the technical report effective April 27, 2025. The historical results and associated quality assurance and quality control information used in this compilation have been checked.

The assay database records gold analyses using Au-AA23, with Au-GRA21 gravimetric determinations where applicable. Drill and trench composites are calculated using length-weighted averages of the samples within the stated intervals. Primary and repeat determinations are not combined as additional sample lengths.

Further information on the exploration history and historical methods is available in the Company’s Technical Report on PL153/2016 in the Vumba Greenstone Belt, Botswana, effective April 27, 2025, including Sections 6, 9 and 10. This release does not report a mineral resource estimate or an economic assessment for Vumba.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Tim Raymond, Pr.Sci.Nat., a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Mr Raymond provides independent geological consulting services to the Company through RAYMEX (Pty) Ltd and has conducted site visits to the Vumba Gold Project.

The Company also announced today that it issued the previously announced shares to SLD Capital Corp for September services for an aggregate of 75,484 Common Shares and 97,125 for October. All Common Shares issuable under their approved agreement will be subject to a statutory hold period of four months and one day from the date of issuance.

About One Bullion

One Bullion Ltd. (TSXV: OBUL) is a Toronto-based gold exploration company focused on advancing high-quality gold assets in Botswana, one of Africa’s stable and established mining jurisdictions. Established in 2018, the Company controls approximately 8,004 km² of prospective land across three greenstone belt-hosted gold projects, including Vumba, Kraaipan and Maitengwe. One Bullion’s strategy centers on disciplined, data-driven exploration combining modern geological methods with advanced targeting to identify and test high-priority gold targets while maintaining a commitment to environmental stewardship, community engagement and long-term value creation for stakeholders.

Forward-Looking Information

This news release contains forward-looking information concerning geological interpretation, target evaluation, the completion of logging, sampling and analytical work, the timing of results, potential use of reverse circulation drilling and future exploration at Vumba. Such information reflects the Company’s current expectations and depends on assumptions concerning geological interpretations, funding, permits, access, personnel, contractors and laboratory capacity. Risks include unfavorable assay results, changes in geological interpretation, drilling and sampling difficulties, delays, costs and conditions affecting operations in Botswana. Actual results and work programs may differ materially. There is no assurance that further exploration will establish continuous or economic mineralization. Readers should not place undue reliance on forward-looking information. Except as required by applicable law, the Company undertakes no obligation to update this information.

Contact Information:
Adam Berk, Chief Executive Officer
OneBullion@KCSA.com

Investor Contact:
KCSA Strategic Communications
Jack Perkins or Valter Pinto
T: 212-896-1254
OneBullion@KCSA.com

Sources For Regional Information and Exploration Background

[1] Caledonia Mining Corporation, Blanket Mine resource update, announced 28 August 2026, effective 30 June 2026. Underground resource statement and reporting notes.

[2] Galane Gold Ltd., Annual Information Form dated 28 April 2022, printed pages 13–14. Mupane mineral resources and reserves effective 31 December 2021.

[3] Minxcon, 2017 technical report on the Blanket Mine, Item 22, Adjacent Properties. Historical production descriptions for Vubachikwe, Jessie and Freda.

[4] One Bullion, One Bullion Receives Final Maitengwe Airborne Geophysical Dataset and Provides Vumba Drilling Update, 14 October 2026. Regional survey coverage and dated drilling background.

[5] One Bullion, Technical Report on PL153/2016 in the Vumba Greenstone Belt, Botswana, effective 27 April 2025, including Sections 6, 9 and 10. Historical results also draw on the Company’s exploration database and supporting assay records.

Figure 1 retains the original map credits: MSA (2011), Minxcon (2022), Zhai et al. (2006), Bineli-Betsi et al. (2020), One Bullion (14 October 2026) and Natural Earth. Figure 2 is based on the Vumba project map and historical exploration data.

Neither the 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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/368391ee-246b-4191-8c70-ff5a6dfecff6

https://www.globenewswire.com/NewsRoom/AttachmentNg/ac11fa16-5065-4613-9235-dd1e5b086c51

CEO Michael Halstead to participate in a fireside chat on November 9, 2026 at 3:00 p.m. EDT

NEW YORK and TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) — Helus Pharma Inc. (Nasdaq: HELP) (Cboe CA: HELP) (the “Company” or “Helus Pharma”), a clinical-stage pharmaceutical company committed to improving the treatment landscape in mental health through the development of novel serotonergic agonists (“NSAs”), today announced that Michael Halstead, Helus Pharma’s Chief Executive Officer, will participate in a fireside chat at the Guggenheim Healthcare Innovation Conference taking place in Boston.

The fireside chat will be webcast live on Monday, November 9, 2026 at 3:00 p.m. EDT.

To register for the webcast, click here. A replay will be available on the Events & Presentations page of Helus Pharma’s investor relations website.

About Helus Pharma

Helus Pharma is a clinical stage pharmaceutical company committed to improving the treatment landscape in mental health through the development of NSAs, synthetic molecules designed to activate serotonin pathways that are believed to promote neuroplasticity. The Company’s proprietary NSAs are intended to address the large unmet need for people who suffer from depression, anxiety, and other mental health conditions.

Helus Pharma is currently developing HLP003, a proprietary NSA, in Phase 3 clinical development for the adjunctive treatment of major depressive disorder that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration and HLP004, also a proprietary NSA in Phase 2 for generalized anxiety disorder. Additionally, Helus Pharma has an extensive research portfolio of investigational NSAs.

The Company operates in Canada, the United States, the United Kingdom, and Ireland. For Company updates and to learn more about Helus Pharma, visit www.helus.com or follow the team on X, LinkedIn, YouTube and Instagram. Helus Pharma™ is a trademark of Helus Pharma Corp.

Cautionary Notes and Forward-Looking Statements

Certain statements in this news release relating to the Company are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”) and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “potential”, “possible”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Company’s anticipated participation at the Guggenheim Healthcare Innovation conference; and plans to engineer proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health conditions.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the NSA market; the ability of the Company to successfully achieve its business objectives; plans for growth; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions in the markets where the Company operates; implications of disease outbreaks on the Company’s operations; and the risk factors set out in each of the Company’s management’s discussion and analysis for the three months ended June 30, 2026, and the Company’s annual information form for the year ended March 31, 2026, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca/ and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding NSAs or HLP003, HLP004 and other programs of the Company. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of NSAs, HLP003, HLP004 or other programs of the Company can diagnose, treat, cure or prevent any disease or condition. Rigorous scientific research and clinical trials are needed. If Helus Pharma cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.

Neither Cboe Canada, nor the Nasdaq Global Market stock exchange, have approved or disapproved the contents of this news release and are not responsible for the adequacy and accuracy of the contents herein.

Investor Contact:
Matthew Beck
astr partners
Managing Partner
(917) 415-1750
Matthew.beck@astrpartners.com

Greg Cavers
Chief Financial Officer
Helus Pharma
1-866-292-4601 x715
irteam@helus.com – or – media@helus.com

Media Contact:
Charlotte Wray
CEO
RXMD
(646) 247-3405
cwray@rxmedyn.com

Business will operate as Biomark Scientific, a leader in accessible, scalable and automated genomic workflows powered by proprietary microfluidics technology

BOSTON, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) — Global private equity healthcare specialist ARCHIMED, and Standard BioTools Inc. (NASDAQ: LAB) (“Standard BioTools”), today announced the completion of ARCHIMED’s previously announced acquisition of Standard BioTools’ Microfluidics Business. As part of ARCHIMED, the business enters its next chapter as a standalone business under the name Biomark Scientific.

Biomark Scientific, an innovative microfluidics technology tools provider specializing in high-throughput and multi-assay genomics systems, will offer versatile and scalable genomic profiling on its flagship Biomark™ platform. The next-generation Biomark X9 system is the only automated PCR, qPCR and NGS library prep system on the market, performing simultaneous profiling of multiple types of genomic assay readouts in a single run using patented integrated fluidic circuits (IFCs).

A highly regarded brand in high-throughput genomic workflows serving research institutions, public health laboratories and biobanks, Biomark was previously part of Fluidigm, which was founded in 1999 and renamed Standard BioTools in 2022. As Biomark Scientific, the business will continue to offer its automated bench-top system that can run genomics assays with robustness, speed and precision, driving quality insights for critical, time-sensitive data.

Within ARCHIMED, Biomark Scientific plans to build on its established technology, expertise and deep customer relationships, while expanding its capabilities and supporting scientific discovery across genomics, clinical research and public health. The company will be an independent entity comprised of the same dedicated team and supported by enhanced capabilities to provide seamless continuity of the products and services that customers and partners trust.

“This is an exciting step forward for our organization, strengthening our ability to serve and support our customers and partners,” says Luke Stewart, newly appointed Chief Commercial Officer of Biomark Scientific. “Together with ARCHIMED, expanding our resources and investing in our expertise reflects our continued commitment to delivering greater value to our customers, with the reliability and quality they depend on. This partnership enables us to confidently move into this next phase while staying true to our foundation of scientific excellence and exceptional service, all in support of advancing genomics and improving public health.”

“With Biomark Scientific’s accelerating position in the clinical research and public health markets, we are poised to support the company in fortifying global growth and launching the business as a primary player in the industry,” says Michael Goetter at ARCHIMED. “Biomark Scientific is comprised of an amazing team, well-positioned to maintain their current momentum with the rigor and meticulous drive that has instilled loyalty among the genomics community.”

About ARCHIMED

With offices in Europe, North America and Asia, ARCHIMED is a leading investment firm focused exclusively on healthcare industries. Its mix of operational, medical, scientific and financial expertise allows ARCHIMED to serve as both a strategic and financial partner to healthcare businesses. Prioritized areas of focus include Animal & Environmental Health, Biopharma Products, Consumer Health, Diagnostics, Healthcare IT, Life Science Tools & Services, and MedTech. ARCHIMED helps partners internationalize, acquire, innovate and expand their products and services. ARCHIMED manages €15 billion across its various funds. Since inception, ARCHIMED has been a committed Impact investor, both directly and through its EURÊKA Foundation.

About Standard BioTools Inc.

Standard BioTools Inc. (NASDAQ: LAB), is committed to setting the new standard in the life science tools industry through strategic consolidation, best-in-class operations and a world class management team. Standard BioTools’ established portfolio includes essential, standardized next-generation solutions designed to help biomedical researchers develop better therapeutics faster. Learn more at standardbio.com or connect with us on X, Facebook®, LinkedIn, and YouTube™.

For Research Use Only. Not for use in diagnostic procedures.

Limited Use Label License and other terms may apply: standardbio.com/legal/notices. Trademarks: standardbio.com/legal/terms-and-conditions/.

Patent and License Information: standardbio.com/legal/trademarks. Any other trademarks are the sole property of their respective owners. ©2026 Standard BioTools Inc. All rights reserved.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding the disposition of Standard BioTools’ Microfluidics Business. The words “strengthen,” “support,” “expand,” “invest,” “enable,” “accelerate,” “advance,” “improve,” “aim,” “create,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: (i) the future conduct and growth of the Microfluidics Business and the markets in which ARCHIMED operates; (ii) the success of products and services competitive with the Microfluidics Business; (iii) ARCHIMED’s ability to successfully integrate the Microfluidics Business into its existing operations and the Microfluidics Business’s technology and products into its portfolio; (iv) ARCHIMED’s ability to sell the products and further develop the Microfluidics Business’s technology; (v) ARCHIMED’s ability to successfully manage partner and customer relationships in the market; and (vi) customer uptake of, and satisfaction with, new products and services.

For information regarding other related risks, see the “Risk Factors” section of Standard BioTools’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on March 16, 2026, Standard BioTools’ most recent Quarterly Report on Form 10-Q and Standard BioTools’ other filings with the SEC. Should any of these risks or uncertainties materialize, actual results could differ materially from expectations. These forward-looking statements speak only as of the date hereof. Standard BioTools does not assume any obligation to, and does not currently intend to, update any such forward-looking statements except as may be required by law.

Additional Information and Where to Find It

This communication may be deemed to be solicitation material in respect of the proposed transactions involving Standard BioTools and Treeline Biosciences, Inc. (“Treeline”) and/or Standard BioTools’ sale of its Mass Cytometry business to Element Biosystems, LLC (“Element”). In connection with the Treeline transaction and related stockholder vote, Standard BioTools has filed with the SEC a registration statement on Form S-4, as amended (the “Form S-4”), which was declared effective by the SEC on October 21, 2026. The Form S-4 includes a definitive proxy statement and a definitive prospectus of Standard BioTools. The definitive proxy statement/prospectus, dated October 21,2026, was first mailed to stockholders of Standard BioTools on or about October 21, 2026. This communication is not a substitute for the definitive proxy statement/prospectus or any other document that Standard BioTools may file with the SEC or send to its stockholders in connection with the proposed transactions. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

INVESTORS AND STOCKHOLDERS OF STANDARD BIOTOOLS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS, SUPPLEMENTS AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT MATERIALS FILED OR TO BE FILED WITH THE SEC BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED TRANSACTIONS BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT STANDARD BIOTOOLS, TREELINE, ELEMENT AND THE PROPOSED TRANSACTIONS. Copies of the materials filed or to be filed by Standard BioTools with the SEC may be obtained free of charge on Standard BioTools’ Investor Relations website at https://investors.standardbio.com or by contacting Standard BioTools’ Investor Relations department at ir@standardbio.com. In addition, all of those materials are available at no charge on the SEC’s website at www.sec.gov.

Participants in the Solicitation

Standard BioTools, Treeline and certain of their respective directors, executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies of Standard BioTools stockholders in connection with the proposed transactions under SEC rules. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests of Standard BioTools’ executive officers and directors who may, under SEC rules, be deemed participants in the solicitation by reading Standard BioTools’ proxy statement for its 2026 annual meeting of stockholders (including under the headings “Management and Corporate Governance,” “Executive Officer and Director Compensation,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and Related Transactions, and Director Independence”), its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and Standard BioTools’ other filings with the SEC. Information regarding Treeline’s directors and executive officers who may be deemed participants in the solicitation is contained in the proxy statement/prospectus filed by Standard BioTools. These documents are available free of charge at the SEC’s website at www.sec.gov or by going to Standard BioTools’ Investor Relations website at http://investors.standardbio.com or contacting Standard BioTools’ Investor Relations department at ir@standardbio.com.

Contacts:

Standard BioTools:

IR:
ir@standardbio.com

Media:
Dan Moore / Nick Lamplough / Tali Epstein
Collected Strategies
LAB-CS@collectedstrategies.com

ROCKVILLE, Md., Nov. 03, 2026 (GLOBE NEWSWIRE) — Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) (“Ascentage Pharma” or the “Company”), a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer, announced today that the Company’s management will participate in two upcoming investor conferences in London, United Kingdom.

UBS Global Biopharma Conference

Format: Company presentation and one-on-one investor meetings

Date and Time: Monday, November 16, 2026, 4:40 p.m. to 5:10 p.m. GMT (11:40 a.m. to 12:10 p.m. ET)

Location: Rosewood London, 252 High Holborn, London, UK

2026 Jefferies Global Healthcare Conference in London

Format: Company presentation and one-on-one investor meetings

Date and Time: Tuesday, November 17, 2026, 9:00 a.m. to 9:25 a.m. GMT (4:00 a.m. to 4:25 a.m. ET)

Location: The Waldorf Hilton, Aldwych, London, UK

Investors interested in scheduling a meeting with the Ascentage Pharma management team should contact their conference representative.

About Ascentage Pharma

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) (“Ascentage Pharma” or the “Company”) is a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer. The Company has built a rich pipeline of innovative drug products and candidates that include inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, next-generation kinase inhibitors, and protein degraders.

The Company’s first approved product, Olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). Ascentage Pharma is currently conducting an FDA- and EMA-cleared registrational Phase III trial, called POLARIS-2, of Olverembatinib for CML, as well as FDA- and EMA-cleared registrational Phase III trials for patients with newly diagnosed Ph+ ALL, called POLARIS-1, and SDH-deficient GIST patients, called POLARIS-3.

The Company’s second approved product, Lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. Lisaftoclax has been approved by China’s National Medical Products Administration (NMPA) for the treatment of adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have previously received at least one systemic therapy including Bruton’s tyrosine kinase (BTK) inhibitors. The Company is currently conducting four global registrational Phase III trials: the FDA- and EMA-cleared GLORA study of Lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the FDA- and EMA-cleared GLORA-4 study in patients with newly diagnosed higher risk MDS.

Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit https://ascentage.com/

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma’s filings with the SEC, including those set forth in the sections titled “Risk factors” and “Cautionary note regarding forward-looking statements” in its Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026, the sections headed “Forward-looking Statements” and “Risk Factors” in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited where the Company’s ordinary shares are listed it has made or it makes from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this press release do not constitute profit forecast by the Company’s management.

As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma’s current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

Investor Relations:

Sumedh Sunkaraneni
Ascentage Pharma
IR@ascentage.com
+1 (301) 792-6286

Brian Korb
astr partners
brian.korb@astrpartners.com
+1 (917) 653-5122

PETAH TIKVA, Israel, Nov. 03, 2026 (GLOBE NEWSWIRE) — TurboGen Ltd. (NASDAQ:TRBG) (TASE:TURB) (“TurboGen” or the “Company”), a developer of combined heat and power systems based on multifuel microturbines, today announces that it has completed the first assembly of its propriety TR2000 system, a 20 kilowatt (“kW”) unit designed for defense applications as well as residential buildings and other civilian projects. Upon completion of the TR2000 system’s assembly, the Company began testing the system internally.

“Completing the first TR2000 system turns our 20kW design into a working system” said Yaron Gilboa, TurboGen’s Chief Executive Officer. “We anticipate continued testing, certifications, and demonstrations as these units are assembled and marketed. We look forward to providing updates on our progress as we move TurboGen closer to revenue generation.”

About TurboGen

Founded in response to technologically address the threat of climate change and the lack of grid capacity, TurboGen Ltd. (NASDAQ:TRBG) (TASE:TURB) develops combined heat and power systems based on multifuel microturbines. These microturbines are used for local electricity, energy, and heat production. To learn more, please visit: https://turbogenchp.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, TurboGen is using forward looking statements in this press release when it discusses the successful assembly of its TR2000 system; the potential benefits to the Company as a result of this assembly; the potential applicability of the TR2000 system to defense, residential and civilian projects; the anticipated continued testing, certifications and demonstrations of the units; and providing updates as TurboGen moves closer to revenue generation. Because such statements deal with future events and are based on TurboGen’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of TurboGen could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Registration Statement on Form F-1, as amended, filed with the Securities and Exchange Commission (the “SEC”) on March 12, 2026. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

IR and Communications Contact:
IR@turbogenchp.com

WAYNE, Pa., Nov. 03, 2026 (GLOBE NEWSWIRE) — Palvella Therapeutics, Inc. (Palvella or the “Company”) (Nasdaq: PVLA), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for serious, rare skin diseases and vascular anomalies for which there are no U.S. Food and Drug Administration (FDA)-approved therapies, today announced that members of its management team will present at the Stifel 2026 Healthcare Conference on Tuesday, November 10, 2026, at 9:20 a.m. ET.

A live webcast of the presentation will be available on the Events and Presentations section of Palvella’s website at www.palvellatx.com. An archived replay will be available for approximately 90 days following the event.

About Palvella Therapeutics

Founded and led by rare disease biotech veterans, Palvella Therapeutics, Inc. (Nasdaq: PVLA) is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients living with serious, rare skin diseases and vascular anomalies for which there are no FDA-approved therapies. Palvella is developing a broad pipeline of product candidates based on its patented QTORIN™ platform, with an initial focus on serious, rare skin diseases and vascular anomalies, many of which are lifelong in nature. Palvella’s lead product candidate, QTORIN™ 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin), is currently being developed for the treatment of microcystic lymphatic malformations, cutaneous venous malformations, and clinically significant angiokeratomas. Palvella’s second product candidate, QTORIN™ pitavastatin, is currently being developed for the treatment of disseminated superficial actinic porokeratosis. For more information, please visit www.palvellatx.com or follow Palvella on LinkedIn or X (formerly known as Twitter).

QTORIN™ rapamycin and QTORIN™ pitavastatin are for investigational use only and neither has been approved by the FDA or by any other regulatory agency for any indication.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (Securities Act)). These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Palvella, as well as assumptions made by, and information currently available to, the management of Palvella. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Statements that are not historical facts are forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the expected timing of the presentation of data from clinical trials, Palvella’s clinical development plans and related anticipated development milestones and anticipated timing of regulatory submissions, Palvella’s expectations with respect to the potential approval of the NDA for QTORIN™ rapamycin, the potential impact of Priority Review on the FDA’s review timeline, any delays in the FDA’s review of Palvella’s accepted NDA, Palvella’s commercial preparedness and the timing and execution of a potential launch following regulatory approval, Palvella’s plans to pursue Breakthrough Therapy Designation, Palvella’s plans to meet with regulatory authorities, Palvella’s expectations regarding the benefits of orphan drug designation and potential benefit of orphan drug exclusivity for QTORIN™ rapamycin for the treatment of microcystic lymphatic malformations, Palvella’s cash, financial resources and expected runway, Palvella’s expectations regarding its programs, including QTORIN™ rapamycin and QTORIN™ pitavastatin, and its research-stage opportunities, including its expected therapeutic potential and market opportunity. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the ability to raise additional capital to finance operations; the ability to advance product candidates through preclinical and clinical development; the ability to make regulatory submissions on anticipated timelines; the ability to obtain regulatory approval for, and ultimately commercialize, Palvella’s product candidates, including QTORIN™ rapamycin and QTORIN™ pitavastatin; the outcome of early clinical trials for Palvella’s product candidates, including the ability of those trials to satisfy relevant governmental or regulatory requirements; the fact that data and results from clinical studies may not necessarily be indicative of future results; Palvella’s limited experience in designing clinical trials and lack of experience in conducting clinical trials; Palvella’s limited experience in commercial manufacturing; the ability to identify and pivot to other programs, product candidates, or indications that may be more profitable or successful than Palvella’s current product candidates; the substantial competition Palvella faces in discovering, developing, or commercializing products; the negative impacts of global events on operations, including ongoing and planned clinical trials and ongoing and planned preclinical studies; the ability to attract, hire, and retain skilled executive officers and employees; the ability of Palvella to protect its intellectual property and proprietary technologies; reliance on third parties, contract manufacturers, and contract research organizations; and the risks and uncertainties described in the filings made by Palvella with the Securities and Exchange Commission (SEC), including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the SEC and available at www.sec.gov. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that Palvella may face. Except as required by applicable law, Palvella does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. This press release contains hyperlinks to information that is not deemed to be incorporated by reference into this press release.

Contact Information

Investors
Wes Kaupinen
Founder and CEO
Palvella Therapeutics
wes.kaupinen@palvellatx.com

Media
Marcy Nanus
Vice President, Investor Relations and Corporate Affairs
Palvella Therapeutics
marcy.nanus@palvellatx.com

IRVINE, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) — Beta Bionics, Inc. (Nasdaq: BBNX), a pioneering leader in the development of advanced diabetes management solutions, today announced that management will participate at upcoming investor conferences:

• Members of the Company’s management team will present at the Wolfe Research 8^th Annual Healthcare Conference on Tuesday, November 10, 2026 at 12:40pm Eastern Time.
• Members of the Company’s management team will present at the Stifel 2026 Healthcare Conference on Wednesday, November 11, 2026 at 8:40am Eastern Time.
• Members of the Company’s management team will attend the Jefferies 2026 Global Healthcare Conference in London and host in-person meetings on Wednesday, November 18 and Thursday, November 19, 2026.
• Members of the Company’s management team will present at the Piper Sandler 38^th Annual Healthcare Conference on Wednesday, December 2, 2026 at 12:00pm Eastern Time.

The presentations will be webcast live. The link to the webcasts will be available on the Company’s website in the “Investors—Events & Presentations” section at https://investors.betabionics.com, and will be archived there for future replay following the events.

About Beta Bionics

Beta Bionics, Inc. is a commercial-stage medical device company engaged in the design, development, and commercialization of innovative solutions to improve the health and quality of life of insulin-requiring people with diabetes (PWD) by utilizing advanced adaptive closed-loop algorithms to simplify and improve the treatment of their disease. Beta Bionics’ proprietary insulin dosing algorithm is the first FDA-cleared algorithm that autonomously determines every insulin dose and offers the potential to substantially improve overall outcomes across broad populations of PWD. To learn more, visit www.betabionics.com.

Investor Relations:
Blake Beber
Head of Investor Relations
ir@betabionics.com

Media and Public Relations:
Felicia Sanborn
Vice President of Marketing
media@betabionics.com

Source: Beta Bionics, Inc.

Top Line Growth, Management of Cost and Expenses Drive Strong Third Quarter

• Q3 GAAP diluted EPS was $1.23 (+39.8% YoY). On a non-GAAP basis, diluted EPS was $1.62 (+47.3% YoY).
• Profit improvement versus the prior year was driven by the Steelcase acquisition, operational productivity benefits, price-cost, and organic volume growth in both segments.
• Net sales for the third quarter of 2026 were in line with HNI’s expectations.
• Encouraging demand trends — Workplace Furnishings Q3 orders were up six percent year-over-year, while Residential Building Products Q3 orders grew four percent versus the same period of 2025.
• Low-single-digit organic net sales growth expectations remain for both segments for the full year 2026.
• Non-GAAP diluted EPS growth of 20-25 percent expected in 2026 — the fifth straight year of double-digit non-GAAP diluted EPS growth.
• Multiple years of elevated EPS growth visibility remain from sales growth initiatives, cost actions, and manufacturing network optimization, plus at least $130 million of Steelcase synergies when fully mature.

MUSCATINE, Iowa, Nov. 03, 2026 (GLOBE NEWSWIRE) — HNI Corporation (NYSE: HNI) today announced net sales of $1.6 billion and net income of $90.0 million for the third quarter ended October 3, 2026. Non-GAAP net income was $118.7 million. Non-GAAP to GAAP reconciliations follow the financial statements in this release.

Highlights

• Strong third quarter results. GAAP diluted EPS totaled $1.23 and non-GAAP diluted EPS of $1.62 well exceeded internal expectations. SG&A cost management, price-cost benefits, investment timing, and productivity savings more than offset slightly lower-than-expected volume growth to drive the upside. GAAP results include the impact of Steelcase purchase accounting, the details of which can be found later in the release.
• Top line backdrop remains strong. Workplace Furnishings segment volume growth turned positive in the third quarter, with volume growth and price recognition driving organic net sales growth of six percent. In Residential Building Products, the benefits of structural changes organizing around the consumer and growth investments drove continued market outperformance, with volume- and price-driven net sales growth of nearly five percent.
• Multiple sources of margin improvement and EPS visibility. Cost management initiatives and efforts to streamline priorities across the organization to focus on profitable growth are expected to deliver improved profitability over the remainder of 2026 and in 2027, despite ongoing geopolitical and macro uncertainty. Further, the Corporation continues to expect manufacturing network optimization savings in its legacy Workplace Furnishings businesses to total nearly $30 million (adding an expected $0.30 to non-GAAP diluted EPS) in 2026 through 2028. In addition, synergies associated with the integration of Steelcase are progressing ahead of plan and are now expected to add at least $130 million of operating profit when fully mature.

“Volume growth returned in both segments in the third quarter. In addition to the benefits of operating leverage from higher volume, cost and expense management and the net benefits of price-cost and productivity drove third quarter results that significantly exceeded our expectations. Our members continue to demonstrate focus and diligence. Encouragingly, our internal leading indicators — pre-order activity, orders, and backlog — continue to provide reasons to be optimistic. The positive momentum of our strategies — both revenue- and cost-focused, the benefits of our diversified revenue streams, the merits of our customer-first business model, and the integration of Steelcase continue to deliver strong shareholder value.

“In the legacy Workplace Furnishings businesses, our profit transformation efforts are working, and revenue is growing. Workplace Furnishings segment GAAP operating margin was 15 percent, an improvement of 250 basis points year-over-year. Non-GAAP operating margin, excluding Steelcase, expanded 390 basis points year-over-year, reaching a third quarter record of 16 percent; and when including Steelcase, non-GAAP operating income was more than double the prior-year level. Excluding Steelcase, third quarter net sales were up nearly six percent year-over-year. Growth was fueled in large part by our businesses focused on contract customers, and we remain bullish about the industry backdrop. Looking ahead, we expect year-over-year revenue to grow in the fourth quarter in our legacy Workplace Furnishings businesses.

“At Steelcase, our integration efforts are on track, with synergy capture ahead of plan, and net sales and orders improved on a year-over-year basis. We now expect total synergies to reach at least $130 million when fully mature, with the original $120 million target now expected to be achieved by the end of year four. In the near term, the synergy upside will be partially offset by temporary price-cost pressure from accelerating inflation. We expect our pricing actions will bring a return of price-cost neutrality in 2027. In addition, in Steelcase’s international markets, the benefits of ongoing cost actions and profit improvement plans are being partially offset by geopolitical turmoil, slowing the rate of earnings improvement in 2026. We will continue to aggressively manage the cost structure and profitability in these markets.

“In Residential Building Products, our organizational realignment and growth initiatives are working and fueled five percent net sales growth in the quarter — strong results given the challenging housing backdrop. Our top line performance was driven by revenue from the remodel-retrofit business, which increased double-digits year-over-year and more than offset modest market-driven weakness in our new construction channel. The top-line strength and our lean operating model drove operating margin and profit upside, with 180 basis points of margin expansion and 16 percent profit growth, on a year-over-year basis. We remain encouraged about the opportunities tied to our growth initiatives, despite expectations of ongoing housing market headwinds. We continue to invest to grow our unique operating model and diversified revenue streams, including go-to-market changes to organize around our customers.

“The strength of our growth strategies and ability to stay focused on our profit levers, despite ongoing macroeconomic uncertainty, was evident in our third quarter results. We expect strong profit growth again in the fourth quarter, driven by the Steelcase acquisition, operational productivity gains and organic revenue growth,” stated Jeff Lorenger, Chairman, President, and Chief Executive Officer.

	HNI Corporation – Third Quarter Financial Performance
	(Dollars in millions, except per share data)
		Three Months Ended
		October 3, 2026			September 27, 2025			Change
	GAAP
	Net Sales	$1,592.9			$683.8			133	%
	Gross Profit %	42.6	%		42.1	%		50 bps
	SG&A %	33.5	%		31.3	%		220 bps
	Acquisition and Related Costs	$0.9			$8.3			NM
	Restructuring and Impairment Charges	$7.3			$0.8			NM
	Operating Income	$136.7			$64.6			112	%
	Operating Income %	8.6	%		9.4	%		-80 bps
	Effective Tax Rate	25.8	%		28.2	%
	Net Income %	5.6	%		6.0	%		-40 bps
	EPS – diluted	$1.23			$0.88			39.8	%
	Non-GAAP
	Gross Profit %	42.8	%		42.2	%		60 bps
	SG&A %	31.9	%		31.3	%		60 bps
	Operating Income	$173.1			$74.0			134	%
	Operating Income %	10.9	%		10.8	%		10 bps
	Effective Tax Rate	24.7	%		24.4	%
	EPS – diluted	$1.62			$1.10			47.3	%

	HNI Corporation – Third Quarter Impact of Steelcase Acquisition
	(Dollars in millions, except per share data)
		Three Months Ended
		October 3, 2026									September 27, 2025
	GAAP	Legacy HNI			Steelcase			Consolidated HNI			Consolidated HNI			Legacy Change			Consolidated Change
	Net Sales	$722.3			$870.6			$1,592.9			$683.8			5.6	%		133	%
	Gross Profit	$320.5			$358.0			$678.5			$288.1			11.3	%		136	%
	Gross Profit %	44.4	%		41.1	%		42.6	%		42.1	%		230 bps			50 bps
	SG&A	$225.1			$308.5			$533.6			$214.4			5.0	%		149	%
	SG&A %	31.2	%		35.4	%		33.5	%		31.3	%		-10 bps			220 bps
	Acquisition and Related Costs	$0.8			$0.1			$0.9			$8.3			NM			NM
	Restructuring and Impairment Charges	$5.9			$1.4			$7.3			$0.8			NM			NM
	Operating Income	$88.7			$48.0			$136.7			$64.6			37.3	%		112	%
	Operating Income %	12.3	%		5.5	%		8.6	%		9.4	%		290 bps			-80 bps
	Effective Tax Rate	23.3	%		31.5	%		25.8	%		28.2	%
	Net Income (loss)	$64.7			$25.3			$90.0			$41.2			56.9	%		118	%
	EPS – diluted							$1.23			$0.88						39.8	%
	Non-GAAP
	Gross Profit	$324.0			$358.0			$681.9			$288.3			12.4	%		137	%
	Gross Profit %	44.9	%		41.1	%		42.8	%		42.2	%		270 bps			60 bps
	SG&A	$225.2			$283.6			$508.8			$214.4			5.0	%		137	%
	SG&A %	31.2	%		32.6	%		31.9	%		31.3	%		-10 bps			60 bps
	Operating Income	$98.8			$74.3			$173.1			$74.0			33.6	%		134	%
	Operating Income %	13.7	%		8.5	%		10.9	%		10.8	%		290 bps			10 bps
	Effective Tax Rate	24.7	%		24.7	%		24.7	%		24.4	%
	EPS – diluted	$1.47						$1.62			$1.10			33.6	%		47.3	%

HNI Corporation — Third Quarter Summary Comments

• Consolidated net sales increased 133 percent from the prior-year quarter to $1.6 billion, driven by the acquisition of Steelcase in December 2025. On an organic basis, net sales increased 5.6 percent year-over-year. The acquisition of Steelcase during the fourth quarter of 2025 and the acquisition of a workplace furnishings dealer in the current quarter increased year-over-year net sales by $870.6 million. A reconciliation of organic net sales, a non-GAAP measure, to net sales follows the financial statements in this release.
• Gross profit margin expanded 50 basis points compared to the prior-year quarter. The increase was driven by favorable price-cost and improved net productivity, which were partially offset by impacts from the acquisition of Steelcase.
• Selling, general, and administrative expenses as a percentage of net sales increased 220 basis points compared to the prior-year quarter. The increase was driven by impacts from the acquisition of Steelcase and higher input costs, partially offset by higher net sales.
• Acquisition and related costs of $0.9 million were recorded during the current period in connection with the acquisition of Steelcase. Acquisition costs consist of retention compensation and other professional service fees.
• Non-cash purchase accounting totaled $24.8 million for the current quarter related to the Steelcase acquisition, which were included in operating expenses and related to amortization of intangibles.
• Restructuring and impairment charges of $7.3 million were incurred in the current quarter, primarily related to structural cost actions.
• Income tax rate comparability versus the same quarter of 2025 was primarily impacted by matters associated with the acquisition of Steelcase, as a result of the impact of non-deductible transaction costs in the prior period.
• Net income per diluted share was $1.23 compared to $0.88 in the prior-year quarter. On a non-GAAP basis, net income per diluted share increased to $1.62 from $1.10 in the year-ago quarter. The increases were driven by favorable price-cost, improved net productivity, higher organic net sales volume, and impacts from the acquisition of Steelcase.

	Workplace Furnishings – Third Quarter Financial Performance
	(Dollars in millions)
		Three Months Ended
		October 3, 2026			September 27, 2025			Change
	GAAP
	Net Sales	$1,417.9			$516.9			174	%
	Operating Income	$131.7			$62.5			111	%
	Operating Income %	9.3	%		12.1	%		-280 bps
	Non-GAAP
	Operating Income	$166.6			$63.5			162	%
	Operating Income %	11.7	%		12.3	%		-60 bps

	Workplace Furnishings – Third Quarter Impact of Steelcase Acquisition
	(Dollars in millions)
		Three Months Ended
		October 3, 2026									September 27, 2025
	GAAP	Legacy Workplace			Steelcase (excluding Corporate)			Total Workplace			Total Workplace			Legacy Change			Total Change
	Net Sales	$547.3			$870.6			$1,417.9			$516.9			5.9	%		174	%
	Operating Income	$80.1			$51.7			$131.7			$62.5			28.2	%		111	%
	Operating Income %	14.6	%		5.9	%		9.3	%		12.1	%		250 bps			-280 bps
	Non-GAAP
	Operating Income	$88.6			$77.9			$166.6			$63.5			39.6	%		162	%
	Operating Income %	16.2	%		9.0	%		11.7	%		12.3	%		390 bps			-60 bps

Workplace Furnishings — Third Quarter Summary Comments

• Workplace Furnishings net sales increased 174 percent from the prior-year quarter to $1.4 billion. On an organic basis, net sales increased 5.9 percent year-over-year. The acquisition of Steelcase during the fourth quarter of 2025 and the acquisition of a workplace furnishings dealer in the current quarter increased year-over-year net sales by $870.6 million.
• Workplace Furnishings operating profit margin of 9.3 percent contracted by 280 basis points versus the prior-year quarter, driven by impacts from the acquisition of Steelcase, purchase accounting, and increased restructuring costs, partially offset by favorable price-cost, improved net productivity, and net tariff impacts. On a non-GAAP basis, segment operating profit margin of 11.7 percent contracted 60 basis points year-over-year.

	Residential Building Products – Third Quarter Financial Performance
	(Dollars in millions)
		Three Months Ended
		October 3, 2026			September 27, 2025			Change
	GAAP
	Net Sales	$175.0			$166.9			4.8	%
	Operating Income	$34.7			$30.0			15.6	%
	Operating Income %	19.8	%		18.0	%		180 bps
	Non-GAAP
	Operating Income	$35.4			$30.0			18.0	%
	Operating Income %	20.2	%		18.0	%		220 bps

Residential Building Products — Third Quarter Summary Comments

• Residential Building Products net sales increased 4.8 percent from the prior-year quarter to $175.0 million, with improved sales in the remodel-retrofit channel partially offset by lower sales in new construction.
• Residential Building Products operating profit margin of 19.8 percent expanded 180 basis points compared to the prior-year quarter. On a non-GAAP basis, segment operating profit margin of 20.2 percent expanded 220 basis points year-over-year. The increases were driven by improved net productivity and higher net sales volume.

Third Quarter Order Rates

• In the Workplace Furnishings segment, orders in the third quarter increased six percent compared to the prior-year period. Order growth rates from contract customers solidly outperformed those from small and medium-sized businesses. Steelcase order growth was stronger than legacy Workplace Furnishings trends. Over the most recent five-week period, segment orders have continued to grow on a year-over-year basis.
• In the Residential Building Products segment, orders grew four percent compared to the third quarter of 2025. Solid remodel-retrofit order growth offset modest declines from the new construction channel. Over the most recent five-week period, segment orders have continued to grow on a year-over-year basis.

Outlook

• Fourth quarter net sales. The Corporation expects fourth quarter 2026 net sales in legacy Workplace Furnishings to increase at a low-single-digit rate year-over-year, including the negative impact of an extra week in 2025. Including Steelcase, total Workplace Furnishings net sales are expected to nearly double from the prior-year period. In Residential Building Products, fourth quarter 2026 net sales are expected to be roughly unchanged versus the same period in 2025, including the negative impact of an extra week in 2025. As a reminder, the Corporation’s fiscal 2025 included an extra week in the fourth quarter. Specifically, the extra shipping days in the year-ago fourth quarter is estimated to create an approximate three percentage net sales growth headwind in the fourth quarter of 2026.
• Fourth quarter non-GAAP diluted earnings per share. Non-GAAP diluted earnings per share for the fourth quarter of 2026 are expected to increase at a rate in the mid-20 percent range from fourth quarter 2025 levels. The addition of Steelcase, productivity savings, expense management, and tax planning are expected to more than offset year-over-year volume pressure, a temporary price-cost drag resulting from accelerating inflation, and continued investments to drive future growth.
• Double-digit non-GAAP diluted EPS growth again next year, with multiple years of elevated earnings growth visibility beyond 2027. We expect to achieve cumulative Steelcase synergies of $70 million by the end of 2027, with total synergies now expected to exceed $130 million when fully mature. In addition, we will continue to see the benefits of our legacy manufacturing network optimization savings — with the cumulative benefit expected to reach $20 million in 2027 and $30 million in 2028. In 2027, these items, along with anticipated price-cost recovery, productivity gains, and volume growth, are expected to more than offset pressure from items that benefited 2026 but will not recur, including tariff refunds and certain tax benefits.
• Balance sheet. The Corporation held a strong balance sheet position as of quarter end and is committed to maintaining significant financial flexibility to fund ongoing business investments to drive growth and payment of its longstanding dividend. Net debt levels were reduced meaningfully during the quarter as the Corporation continues to decrease leverage following the Steelcase acquisition.

Concluding Remarks
“Our members continue to manage our businesses well, delivering another strong quarter with improving top line trends and earnings that exceeded our expectations. Consistent with our previous outlook, we reported volume growth in Workplace Furnishings. Our Residential Building Products segment continued to deliver in the quarter, reporting volume growth despite persistent housing market softness. Moreover, our order patterns showed solid year-over-year improvement during the quarter.

“As we look to the fourth quarter, we expect year-over-year organic revenue growth in Workplace Furnishings. From a profitability perspective, our updated outlook calls for operating profit in our Workplace Furnishings segment to more than double versus the same period in 2025. This view is supported by both external macro and industry demand metrics, our internal pre-order data, and multiple cost and expense initiatives. In Residential Building Products, revenue is expected to be roughly unchanged versus the fourth quarter of 2025, representing continued outperformance relative to expectations of ongoing housing market softness. We expect our Residential Building Products segment to expand margins noticeably on a year-on-year basis in the fourth quarter of 2026.

“The integration of Steelcase is going well, and synergy capture is progressing ahead of expectations, although 2026 accretion will be offset by inflation and softness in our international markets. A new leadership team, strategic cost resets, and pricing actions have the business in a great position as we move toward 2027, and we remain confident in and expect significant accretion next year and beyond.

“The benefits of the Steelcase acquisition, the strength of our strategies, and our financial discipline are expected to continue to drive strong free cash flow — even as we manage through worsening inflation and war-driven revenue pressure internationally. And while we remain focused, conservative, and ready to adjust as required, our outlook continues to demonstrate our confidence in revenue growth, our ongoing profit growth visibility story, and our proven ability to manage through changing economic conditions.

“Our HNI members remain focused on driving growth and expanding margins. And we will continue to invest for the future with confidence,” concluded Mr. Lorenger.

Conference Call
As previously announced, HNI Corporation will host a conference call on Tuesday, November 3, 2026 at 10:00 a.m. (Central) to discuss third quarter fiscal year 2026 results. A live webcast of the call will be available at: https://edge.media-server.com/mmc/p/tej78ead/. Following the conclusion of the call, a webcast replay will be available on HNI Corporation’s website at https://investors.hnicorp.com/events-presentations/events.

About HNI Corporation
HNI Corporation (NYSE: HNI) has been improving where people live, work, and gather for more than 80 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation’s leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. More information can be found on the Corporation’s website at www.hnicorp.com.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, which involve risks and uncertainties. Any statements, plans, objectives, expectations, strategies, beliefs, or future performance or events to the extent they are not statements of historical fact are forward-looking statements. Words, phrases or expressions such as “anticipate,” “believe,” “could,” “confident,” “continue,” “estimate,” “expect,” “forecast,” “hope,” “intend,” “likely,” “may,” “might,” “objective,” “plan,” “possible,” “potential,” “predict,” “project”, “target,” “trend,” “will,” and similar words, phrases or expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are based on information available and assumptions made at the time the statements are made. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Forward-looking statements in this release include statements regarding our expectations regarding fourth quarter 2026 segment net sales, organic net sales, operating profit, operating margins, and consolidated non-GAAP diluted earnings per share, as well as non-GAAP diluted earnings per share growth for full year 2026 and subsequent periods. Forward-looking statements in this release about HNI’s acquisition of Steelcase in December 2025 (the “Steelcase acquisition”) include, but are not limited to, statements about the benefits of the transaction, including future financial and operating results, the combined company’s plans, objectives, expectations and intentions, and other statements that are not historical facts.

The following factors related to the Steelcase acquisition, among others, could cause actual results to differ materially from those expressed in or implied by forward-looking statements: the risk that the synergies and other benefits of the Steelcase acquisition may not be fully realized or may take longer to realize than expected, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, trade policy (including tariff levels), laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which HNI and Steelcase operate; any failure to promptly and effectively integrate the businesses of HNI and Steelcase; and potential adverse reactions to the transaction of HNI’s or Steelcase’s customers, employees or other business partners.

Additional important factors relating to HNI that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, disruptions in the global supply chain; the effects of prolonged periods of inflation and rising interest rates; labor shortages; the levels of office furniture needs and housing starts; overall demand for HNI’s products; general economic and market conditions in the United States and internationally; industry and competitive conditions; the consolidation and concentration of HNI’s customers; HNI’s reliance on its network of independent dealers; changes in trade policy, including with respect to tariff levels; changes in raw material, component, or commodity pricing; market acceptance and demand for HNI’s new products; changing legal, regulatory, environmental, and healthcare conditions; the risks associated with international operations; the potential impact of product defects; the various restrictions on HNI’s financing activities; an inability to protect HNI’s intellectual property; cybersecurity threats, including those posed by potential ransomware attacks; impacts of tax legislation; and force majeure events outside HNI’s control, including those that may result from the effects of climate change. A description of these risks and uncertainties and additional risks and uncertainties can be found in HNI’s annual report on Form 10-K for the year ended January 3, 2026, and subsequent quarterly and current reports filed with the Securities and Exchange Commission on Forms 10-Q and 8-K.

Forward-looking statements speak only as of the date they are made, and HNI does not undertake or assume any obligation to update publicly any of these statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable law.

HNI Corporation and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (In millions, except per share data) (Unaudited)
		Three Months Ended								Nine Months Ended
		October 3, 2026				September 27, 2025				October 3, 2026				September 27, 2025
Net sales		$	1,592.9			$	683.8			$	4,412.9			$	1,950.6
Cost of sales			914.4				395.7				2,587.2				1,138.0
Gross profit			678.5				288.1				1,825.6				812.6
Selling and administrative expenses			533.6				214.4				1,581.5				637.4
Acquisition and related costs			0.9				8.3				8.6				8.3
Restructuring, impairment, and loss on divestiture			7.3				0.8				43.1				9.7
Operating income			136.7				64.6				192.4				157.2
Other non-operating income, net			4.0				—				8.3				—
Interest expense, net			19.4				7.2				63.8				18.9
Income before income taxes			121.3				57.4				136.8				138.3
Income taxes			31.3				16.2				34.5				34.9
Net income			90.0				41.2				102.3				103.4
Less: Net income attributable to non-controlling interest			0.0				—				0.0				0.0
Net income attributable to HNI Corporation		$	90.0			$	41.2			$	102.3			$	103.4
Average number of common shares outstanding – basic			72.3				45.8				72.0				46.3
Net income attributable to HNI Corporation per common share – basic(1)		$	1.23			$	0.90			$	1.40			$	2.23
Average number of common shares outstanding – diluted			72.5				46.7				72.1				47.3
Net income attributable to HNI Corporation per common share – diluted(1)		$	1.23			$	0.88			$	1.40			$	2.19
Foreign currency translation adjustments		$	(3.7	)		$	0.1			$	(10.9	)		$	6.3
Change in unrealized gains (losses) on marketable securities, net of tax			(0.2	)			0.0				(0.3	)			0.2
Change in pension and post-retirement liability, net of tax			—				—				—				2.0
Change in derivative financial instruments, net of tax			0.3				0.2				1.3				(0.5	)
Other comprehensive income (loss), net of tax			(3.6	)			0.3				(10.0	)			8.1
Comprehensive income			86.4				41.5				92.3				111.5
Less: Comprehensive income attributable to non-controlling interest			0.0				—				0.0				0.0
Comprehensive income attributable to HNI Corporation		$	86.4			$	41.5			$	92.3			$	111.5
(1) The basic and diluted “Net income (loss) attributable to HNI Corporation per common share” for the periods presented are calculated using the two-class method due to participating securities. Amounts may not sum due to rounding.

HNI Corporation and Subsidiaries Condensed Consolidated Balance Sheets (In millions) (Unaudited)
		October 3, 2026				January 3, 2026
Assets
Current Assets:
Cash and cash equivalents		$	110.3			$	209.2
Short-term investments			3.7				6.5
Receivables			704.0				571.1
Allowance for credit losses			(2.1	)			(1.1	)
Inventories, net			507.5				475.3
Prepaid expenses and other current assets			169.0				150.9
Total Current Assets			1,492.5				1,411.9
Property, Plant, and Equipment:
Land and land improvements			147.8				99.1
Buildings			649.4				529.1
Machinery and equipment			921.3				1,128.5
Construction in progress			65.0				58.5
			1,783.5				1,815.2
Less accumulated depreciation			(765.6	)			(678.0	)
Net Property, Plant, and Equipment			1,017.9				1,137.2
Right-of-use Finance Leases			13.1				11.3
Right-of-use Operating Leases			275.6				274.5
Goodwill and Other Intangible Assets, net			1,798.8				1,702.6
Other Assets			387.6				347.6
Total Assets		$	4,985.5			$	4,885.0
Liabilities and Equity
Current Liabilities:
Accounts payable and accrued expenses		$	1,007.8			$	1,016.4
Current maturities of debt			22.7				16.2
Current maturities of other long-term obligations			14.7				38.2
Current lease obligations – Finance			4.4				4.2
Current lease obligations – Operating			72.8				64.4
Total Current Liabilities			1,122.4				1,139.3
Long-Term Debt			1,331.8				1,276.9
Long-Term Lease Obligations – Finance			9.0				7.3
Long-Term Lease Obligations – Operating			217.0				224.6
Other Long-Term Liabilities			193.4				220.4
Deferred Income Taxes			236.4				180.9
Total Liabilities			3,110.0				3,049.5
Equity:
HNI Corporation shareholders’ equity			1,869.1				1,835.6
Non-controlling interest			6.4				—
Total Equity			1,875.5				1,835.6
Total Liabilities and Equity		$	4,985.5			$	4,885.0
Amounts may not sum due to rounding.

HNI Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows (In millions) (Unaudited)
		Nine Months Ended
		October 3, 2026				September 27, 2025
Net Cash Flows From (To) Operating Activities:
Net income		$	102.3			$	103.4
Non-cash items included in net income:
Depreciation and amortization			211.8				75.4
Other post-retirement and post-employment benefits			2.6				0.8
Stock-based compensation			33.5				13.3
Deferred income taxes			15.9				25.9
Asset impairment charges			14.6				—
Loss on sale of subsidiary			—				6.6
Inventory step-up			31.3				—
Other – net			5.6				4.9
Net change in cash from operating assets and liabilities
Receivables			(95.6	)			(18.7	)
Inventories			(13.5	)			(2.9	)
Prepaid Expenses and Other			(42.9	)			(7.3	)
Accounts payable and accrued expenses			(40.9	)			(4.6	)
Income taxes payable			(1.9	)			(0.2	)
Increase (decrease) in other liabilities			(59.7	)			2.4
Net cash flows from (to) operating activities			163.3				198.9
Net Cash Flows From (To) Investing Activities:
Capital expenditures			(86.9	)			(49.6	)
Capitalized software			(4.2	)			(1.3	)
Acquisition, net of cash acquired			(24.1	)			—
Purchase of investments			(2.9	)			(2.1	)
Sales or maturities of investments			6.5				3.2
Net proceeds from sale of subsidiary			—				8.1
Investment in Unconsolidated Affiliate Purchases			(46.4	)			—
Investment in Unconsolidated Affiliate Proceeds			10.0				—
Proceeds from sale of property, plant, and equipment			19.3				3.5
Other – net			1.7				—
Net cash flows from (to) investing activities			(127.0	)			(38.1	)
Net Cash Flows From (To) Financing Activities:
Payments of debt			(363.8	)			(377.4	)
Proceeds from debt			384.1				357.1
Dividends paid			(77.6	)			(47.5	)
Purchase of HNI Corporation common stock			(5.6	)			(83.6	)
Proceeds from sales of HNI Corporation common stock			7.4				3.3
Withholding related to net share settlements of equity based awards			(22.6	)			(5.6	)
Repayment of Company Owned Life Insurance policy loans			(56.0	)			—
Other – net			(0.9	)			(9.0	)
Net cash flows from (to) financing activities			(135.0	)			(162.6	)
Net increase (decrease) in cash and cash equivalents			(98.7	)			(1.8	)
Cash, cash equivalents, and restricted cash at beginning of period(1)			217.9				22.5
Cash, cash equivalents, and restricted cash at end of period(1)		$	119.3			$	20.7
(1) Restricted cash as of October 3, 2026, September 27, 2025, and January 3, 2026 was $9.0 million, $2.4 million, and $8.8 million, respectively, and is included in “Other Assets” in the Consolidated Balance Sheets. Amounts may not sum due to rounding.

HNI Corporation and Subsidiaries Reportable Segment Data (In millions) (Unaudited)
		Three Months Ended								Nine Months Ended
		October 3, 2026				September 27, 2025				October 3, 2026				September 27, 2025
Net Sales:
Workplace furnishings		$	1,417.9			$	516.9			$	3,927.1			$	1,473.9
Residential building products			175.0				166.9				485.7				476.7
Total		$	1,592.9			$	683.8			$	4,412.9			$	1,950.6
Cost of Sales:
Workplace furnishings		$	822.2			$	304.1			$	2,336.3			$	875.9
Residential building products			92.2				91.6				251.0				262.1
Total		$	914.4			$	395.7			$	2,587.2			$	1,138.0
Selling and Administrative Expenses:
Workplace furnishings		$	457.2			$	149.5			$	1,355.6			$	442.6
Residential building products			47.6				45.3				141.2				135.9
General corporate			28.8				19.5				84.6				58.8
Total		$	533.6			$	214.4			$	1,581.5			$	637.4
Acquisition and Related Costs:
Workplace furnishings		$	0.0			$	—			$	8.5			$	—
General corporate			0.9				8.3				0.1				8.3
Total		$	0.9			$	8.3			$	8.6			$	8.3
Restructuring, Impairment, and Loss on Divestiture
Workplace furnishings		$	6.8			$	0.8			$	35.9			$	9.1
Residential building products			0.5				—				7.0				—
General corporate			—				0.0				0.3				0.6
Total		$	7.3			$	0.8			$	43.1			$	9.7
Operating Income (Loss):
Workplace furnishings		$	131.7			$	62.5			$	190.8			$	146.3
Residential building products			34.7				30.0				86.5				78.6
General corporate			(29.7	)			(27.9	)			(85.0	)			(67.7	)
Total		$	136.7			$	64.6			$	192.4			$	157.2
Other Non-Operating Income, net			4.0				—				8.3				—
Interest Expense, Net			19.4				7.2				63.8				18.9
Income Before Income Taxes		$	121.3			$	57.4			$	136.8			$	138.3
Depreciation and Amortization Expense:
Workplace furnishings		$	62.3			$	16.2			$	186.7			$	49.6
Residential building products			3.6				3.8				11.4				11.2
General corporate			4.5				4.9				13.7				14.7
Total		$	70.4			$	24.9			$	211.8			$	75.4
Capital Expenditures (including capitalized software):
Workplace furnishings		$	23.6			$	16.8			$	78.4			$	37.6
Residential building products			2.7				2.1				8.4				7.6
General corporate			0.1				0.7				4.3				5.6
Total		$	26.4			$	19.6			$	91.1			$	50.8
Amounts may not sum due to rounding.

Non-GAAP Financial Measures

This earnings release includes certain non-GAAP financial measures as defined by Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of historical non-GAAP financial measures to the most directly comparable historical GAAP measures are included below. This information gives investors additional insights into HNI’s financial performance and operations. While HNI’s management believes the non-GAAP financial measures are useful in evaluating HNI’s operations, this information should be considered supplemental and not in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. In addition, these measures may be different from similarly titled non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes.

To supplement the condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, this earnings release contains the following non-GAAP financial measures on a consolidated basis or for our segments: organic net sales; non-GAAP gross profit; non-GAAP operating income; non-GAAP operating profit; non-GAAP operating margin; non-GAAP interest expense; non-GAAP effective tax rate; non-GAAP net income; and non-GAAP net income per diluted share (EPS). These measures are adjusted from the comparable GAAP measures to exclude the impacts of the selected items as summarized in the tables below. Generally, non-GAAP EPS is calculated using HNI’s overall effective tax rate for the period, as this rate is reflective of the tax applicable to most non-GAAP adjustments. The effective tax rate used to calculate non-GAAP diluted EPS for the current-year quarter differs from the GAAP effective tax rate due to the impact of transaction costs associated with the acquisition of Steelcase, and non-GAAP diluted EPS for the prior-year quarter differs from the GAAP effective tax rate due to the impact of transaction costs associated with the then-pending acquisition of Steelcase.

The transactions excluded for purposes of non-GAAP financial information included in this earnings release include: restructuring charges recorded related to manufacturing network optimization which primarily consists of accelerated depreciation, asset disposals, and asset relocation; structural cost actions resulting in severance charges; an impairment charge related to a small residential building products business; the loss on sale of the HNI India business; purchase accounting costs associated with Steelcase; Steelcase acquisition costs; interest expense associated with bridge loan financing for the acquisition of Steelcase; and impairment costs related to the abandonment of the Steelcase multi-year ERP implementation.

This earnings release refers to our expectations regarding non-GAAP diluted EPS for the stated fiscal periods. The Corporation is unable to provide a reconciliation of these forward-looking non-GAAP measure to future EPS without unreasonable effort due to the uncertainty regarding, and to the potential variability of, many of the costs and expenses that could potentially impact diluted EPS calculated on a GAAP basis. These items include, but are not limited to, impairments, financial impacts from changes in legal, regulatory, and tax requirements, charges related to actions taken to improve future profitability, and the impact of acquisitions and divestitures, if any. These items necessary to reconcile forward-looking non-GAAP diluted EPS to diluted EPS could be material and have a significant impact on the Corporation’s results computed in accordance with GAAP.

	HNI Corporation Reconciliation
	(Dollars in millions)
		Three Months Ended
		October 3, 2026												September 27, 2025
		Workplace Furnishings				Residential Building Products				Total				Workplace Furnishings				Residential Building Products				Total
	Net sales as reported (GAAP)	$	1,417.9			$	175.0			$	1,592.9			$	516.9			$	166.9			$	683.8
	% change from PY		174	%			4.8	%			133	%
	Less: Steelcase Inc. acquisition		856.6				—				856.6				—				—				—
	Less: Dealer acquisition		14.1				—				14.1				—				—				—
	Organic net sales (non-GAAP)	$	547.3			$	175.0			$	722.3			$	516.9			$	166.9			$	683.8
	% change from PY		5.9	%			4.8	%			5.6	%

	HNI Corporation Reconciliation
	(Dollars in millions, except per share data)
		Three Months Ended
		October 3, 2026
		Gross Profit			SG&A			Acquisition and Related Costs			Restructuring, Impairment, and Loss on Divestiture			Operating Income			Interest Expense			Tax			Net Income			EPS
	As reported (GAAP)	$678.5			$533.6			$0.9			$7.3			$136.7			$19.4			$31.3			$90.0			$1.23
	% of net sales	42.6	%		33.5	%		0.1	%		0.5	%		8.6	%		1.2	%					5.6	%
	Tax %																			25.8	%
	Restructuring and other charges	3.5			(0.0	)		—			7.0			10.4			—			2.6			7.8			0.11
	Impairment	—			—			—			0.3			0.3			—			0.1			0.2			0.00
	Acquisition and related costs	—			—			0.9			—			0.9			—			(1.1	)		1.9			0.03
	Purchase Accounting	—			24.8			—			—			24.8			—			6.1			18.7			0.26
	Results (non-GAAP)	$681.9			$508.8			$—			$—			$173.1			$19.4			$39.0			$118.7			$1.62
	% of net sales	42.8	%		31.9	%		—	%		—	%		10.9	%		1.2	%					7.5	%
	Tax %																			24.7	%

	HNI Corporation Reconciliation
	(Dollars in millions, except per share data)
		Three Months Ended
		September 27, 2025
		Gross Profit				SG&A				Acquisition and Related Costs				Restructuring, Impairment, and Loss on Divestiture				Operating Income				Interest Expense				Tax				Net Income				EPS
	As reported (GAAP)	$	288.1			$	214.4			$	8.3			$	0.8			$	64.6			$	7.2			$	16.2			$	41.2			$	0.88
	% of net sales		42.1	%			31.3	%			1.2	%			0.1	%			9.4	%			1.1	%							6.0	%
	Tax %																										28.2	%
	Restructuring charges		0.3				—				—				0.8				1.0				—				0.2				0.9				0.02
	Acquisition Costs		—				—				8.3				—				8.3				1.4				0.2				9.5				0.20
	Results (non-GAAP)	$	288.3			$	214.4			$	—			$	—			$	74.0			$	5.8			$	16.6			$	51.5			$	1.10
	% of net sales		42.2	%			31.3	%			—	%			—	%			10.8	%			0.9	%							7.5	%
	Tax %																										24.4	%

	HNI Corporation Reconciliation
	(Dollars in millions)
		Three Months Ended
		October 3, 2026
		Legacy HNI				Steelcase				Consolidated HNI
	Gross Profit as reported (GAAP)	$	320.5			$	358.0			$	678.5
	% of net sales		44.4	%			41.1	%			42.6	%
	Restructuring charges recorded to cost of sales		3.5				(0.0	)			3.5
	Gross Profit (non-GAAP)	$	324.0			$	358.0			$	681.9
	% of net sales		44.9	%			41.1	%			42.8	%
	SG&A as reported (GAAP)	$	225.1			$	308.5			$	533.6
	% of net sales		31.2	%			35.4	%			33.5	%
	Restructuring and other charges		5.5				1.4				6.9
	Purchase Accounting		—				24.8				24.8
	SG&A (non-GAAP)	$	225.2			$	283.6			$	508.8
	% of net sales		31.2	%			32.6	%			31.9	%
	Operating income as reported (GAAP)	$	88.7			$	48.0			$	136.7
	% of net sales		12.3	%			5.5	%			8.6	%
	Restructuring and other charges		9.0				1.4				10.4
	Impairment charges		0.3				—				0.3
	Acquisition and related costs		0.8				0.1				0.9
	Purchase Accounting	$	—			$	24.8			$	24.8
	Operating income (non-GAAP)	$	98.8			$	74.3			$	173.1
	% of net sales		13.7	%			8.5	%			10.9	%
	Tax as reported	$	19.6			$	11.7			$	31.3
	Effective Tax Rate		23.3	%			31.5	%			25.8	%
	Restructuring and other charges		2.2				0.4				2.6
	Impairment charges		0.1				—				0.1
	Acquisition and related costs		1.4				(2.5	)			(1.1	)
	Purchase Accounting		—				6.1				6.1
	Tax (non-GAAP)	$	23.3			$	15.7			$	39.0
	Effective Tax Rate (non-GAAP)		24.7	%			24.7	%			24.7	%

	HNI Corporation Reconciliation
	(Dollars in millions, except per share data)
		Three Months Ended
		October 3, 2026
	GAAP (as reported):	Legacy HNI				Consolidated HNI
	Operating income	$	88.7			$	136.7
	Other non-operating income, net		(0.3	)			4.0
	Interest expense, net		4.2				19.4
	Income taxes (Legacy 23.3%, Consolidated 25.8%)		19.6				31.3
	Net income	$	64.7			$	90.0
	Average number of common shares outstanding – diluted		47.3	(1)			72.5
	EPS – Diluted	$	1.37	(1)		$	1.23
	Non-GAAP:
	Operating income	$	98.8			$	173.1
	Other non-operating income, net		(0.3	)			4.0
	Interest expense, net		4.2				19.4
	Income taxes (Legacy 24.7%, Consolidated 24.7%)		23.3				39.0
	Net income	$	71.1			$	118.7
	Average number of common shares outstanding – diluted		47.3	(1)			72.5
	EPS – Diluted	$	1.47			$	1.62
(1) The average number of common shares outstanding – diluted for the Legacy HNI business is a non-GAAP measure calculated by excluding the quarter-to-date average impacts of new issuances of HNI common stock (25.2 million) as a result of the acquisition of Steelcase Inc.

	Workplace Furnishings Reconciliation
	(Dollars in millions)
		Three Months Ended
		October 3, 2026												September 27, 2025
		Legacy Workplace Furnishings				Steelcase (excluding Corporate)				Total Workplace Furnishings				Total Workplace Furnishings
	Operating income as reported (GAAP)	$	80.1			$	51.7			$	131.7			$	62.5
	% of net sales		14.6	%			5.9	%			9.3	%			12.1	%
	Restructuring and other charges		8.6				1.4				10.0				1.0
	Acquisition and related costs		—				0.0				0.0				—
	Purchase Accounting		—				24.8				24.8				—
	Operating income (non-GAAP)	$	88.6			$	77.9			$	166.6			$	63.5
	% of net sales		16.2	%			9.0	%			11.7	%			12.3	%

	Residential Building Products Reconciliation
	(Dollars in millions)
		Three Months Ended
		October 3, 2026				September 27, 2025				Percent Change
	Operating income as reported (GAAP)	$	34.7			$	30.0			15.6	%
	% of net sales		19.8	%			18.0	%
	Restructuring charges		0.4				—
	Impairment charges		0.3				—
	Operating income (non-GAAP)	$	35.4			$	30.0			18.0	%
	% of net sales		20.2	%			18.0	%

For Information Contact:
Vincent P. Berger, Executive Vice President and Chief Financial Officer (563) 272-7400
Matthew S. McCall, Vice President, Investor Relations and Corporate Development (563) 275-8898

VANCOUVER, British Columbia, Nov. 03, 2026 (GLOBE NEWSWIRE) —

Winshear Metals Corp.  (TSX-V: WINS, FRA: 9HR0) reports that it has commenced drill testing of the strong downhole electromagnetic (‘DHEM’) anomaly at the South Zone, Rodburn Target within the Portsoy Nickel-Copper-Cobalt Project (“Ni-Cu-Co”), located in northeast Scotland (Figure 1) (see news release dated July 15, 2026).

Richard Williams, CEO of Winshear, commented:
“We are excited to start drilling to test the DHEM conductor identified at the South Zone. Previous drilling has established high-grade nickel-copper-cobalt mineralisation in both the North and South Zones, and if this current drilling is successful it will confirm that DHEM surveying can guide future drilling.“

Overview

• Two near-surface Ni-Cu-Co mineralised zones have been drill-tested to date at the Rodburn Target – the North and South Zones;
• The North and South Zones are 500 metres (“m”) to 700m apart and appear to be two separate mineralised zones;
• DHEM surveying identified a strong conductor 100m east of RBD030 in the South Zone (see news release dated July 15, 2026) – this is now being drill-tested. The target depth is expected between 260m – 320m downhole.
• Mineralisation is analogous to conduit style Ni-Cu-Co systems, examples of which include Voiseys Bay (Canada), Eagle (USA), Norilsk (Russia), and Jinchuan (China);
• A complete table of drill results can be accessed from the 43-101 Technical Report here.
• South Zone drill intercepts include:

Hole ID	From (m)	Length (m)	Ni (%)	Cu (%)	Co (ppm)	% NiEq
RBD001	45.00	6.00	0.96	0.73	601	1.42
RBD002	69.00	17.00	1.16	0.51	769	1.52
incl.	70.00	12.00	1.42	0.54	929	1.82
RBD003	114.00	4.00	0.69	0.66	484	1.09
RBD004	112.00	12.26	1.02	0.83	633	1.53
incl.	118.29	5.97	1.92	1.50	1197	2.86
RBD008	186.00	2.00	0.92	0.27	535	1.13
RBD009	60.00	5.39	2.04	0.56	1110	2.47
RBD018	100.00	2.00	1.54	0.93	735	2.12
RBD029	217.85	8.15	0.77	1.14	469	1.42
incl	217.85	6.00	0.98	1.51	600	1.84

NiEq (% nickel equivalent) based on US$19,000/t Ni, US$9,000/t Cu, US$32,000/t Co, using the formula Ni% + (0.524 x Cu%) + (1.22 x 10-4 x Co ppm). Equal Recovery Assumed. True thickness estimated to be 85% – 100% of reported length.

• North Zone drill intercepts include:

Hole ID	From (m)	Length (m)	Ni (%)	Cu (%)	Co (ppm)	% NiEq
RBD015	60.00	9.00	0.61	0.23	310	0.77
RBD016	74.00	9.00	1.13	0.73	1056	1.64
RBD028	72.00	3.00	0.98	0.14	452	1.11
And	84.00	4.00	0.76	0.32	339	0.97

NiEq (% nickel equivalent) based on US$19,000/t Ni, US$9,000/t Cu, US$32,000/t Co, using the formula Ni% + (0.524 x Cu%) + (1.22 x 10-4 x Co ppm). Equal Recovery Assumed. True thickness estimated to be 85% – 100% of reported length.

• The disseminated, semi-massive and massive sulphide mineralisation is related to a mafic to ultramafic intrusive complex, with the high-grade mineralisation hosted within a late stage, undeformed peridotite. The nickel is hosted in coarse pentlandite, a nickel sulphide mineral.
• Metallurgical work conducted earlier this year yielded very positive results (see news release dated July 27, 2026), demonstrating the ability to create clean nickel and copper concentrates, free of penalty elements. The nickel concentrate is particularly attractive showing potential for 14-16% nickel concentrates with approximately 1% cobalt.

Figure 2 is a plan map showing drill holes completed to date, the location of the North and South Zones, plus the location of the DHEM conductor currently being drill-tested.

Qualified Person

J. Patricio Varas, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Winshear’s President and Director, has read and approved all technical and scientific information contained in this news release.

About Winshear Metals Corp.

Winshear Metals Corp. is a Canadian-based minerals exploration company with a nickel-copper-cobalt project in Scotland (the Portsoy Project) and gold / critical minerals project in Ontario (the Thunder Bay Project).

For more information, please visit www.winshear.com or contact:

Irene Dorsman	Winshear Metals Corp. Communications	+1 (604) 200 7874 info@winshear.com
Megan Ray / Said Izagaren	BlytheRay (Public Relations)	+44 (0) 20 7138 3204 winshear@blytheray.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Richard D. Williams”
Richard D. Williams, CEO

NEITHER THE 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.

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws, including statements regarding the success of future drilling, geophysical and metallurgical studies conducted at the Portsoy Project. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: variability of the style and grade of sulphide mineralization; the risk that future drilling may not intersect massive sulphide mineralization or mineralization comparable to historical results; uncertainty regarding continuity, grade, true thickness and extent of mineralization; inability to replicate the metallurgical results; inability of future geophysical surveys to detect new massive sulphide mineralisation; delays or challenges in planning, permitting, financing or completing exploration; access, weather, logistical, contractor and community-related risks in Scotland; changes in commodity prices, exchange rates, capital markets, laws or government policy; risks inherent in early-stage mineral exploration; and the other risks described in the Company’s public disclosure record. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.