Tag: GlobeNewswire

Record-high harvest volume and continued strong operational and biological performance contributed to a significant improvement in results compared with the same period last year. Higher volumes, lower cost levels and improved price achievement contributed positively, while Sales & Industry delivered strong results. Strong cash flow from operations also contributed to a further reduction in net interest-bearing debt and a strengthened financial position.

Operational EBIT for the Group was NOK 1,609 million in the third quarter of 2026. Harvest volume reached a record-high 105,100 tonnes, and Operational EBIT per kg was NOK 15.3. In Norway, Operational EBIT was NOK 1,620 million, harvest volume was 99,900 tonnes and Operational EBIT per kg was NOK 16.2.

• Record-high harvest volume, driven by strong biological performance throughout 2026.
• Strong results from Sales & Industry, driven by record-high volumes through the processing facilities, improved operational performance and solid sales results.
• Icelandic Salmon returned to positive results, driven by a lower cost level and good price achievement.
• Significantly higher harvest volume from Scottish Sea Farms, although results remained weak due to biological challenges.

“Record-high harvest volume and a significant improvement in results reflect the strong biological development throughout 2026. The underlying biological status remains good, and together with lower costs for the fish currently in the sea, this provides a solid foundation going forward,” says Frode Arntsen, CEO of SalMar ASA.

Strengthened financial position

SalMar further strengthened its financial position in the third quarter. Net interest-bearing debt was reduced by NOK 1,228 million from the end of the second quarter to NOK 17,912 million. Compared with the same period last year, net interest-bearing debt has been reduced by NOK 3,739 million. NIBD/EBITDA was reduced to 2.1, from 2.5 at the end of the second quarter and 4.0 at the end of the third quarter of 2025.

At the same time, the equity ratio increased to 36.0 per cent, and SalMar had NOK 15.9 billion in available liquidity at the end of the quarter. This provides the company with solid financial flexibility, including for the completion of the Måsøval transaction once the necessary regulatory approvals have been obtained.

Expecting slightly lower cost level and guiding harvest volume of 346,000 tonnes for 2027

For the fourth quarter of 2026, SalMar expects a slightly lower cost level in the value chain compared with the third quarter. At the same time, lower harvest volume in Norway is expected compared with the fourth quarter of 2025.

Harvest volume guidance for 2026 is 347,000 tonnes, including the relative share from Scottish Sea Farms. This represents harvest volume growth of 15 per cent compared with 2025. Guidance for Norway remains unchanged, while volume expectations for Icelandic Salmon and Scottish Sea Farms have been somewhat reduced.

For 2027, SalMar expects total harvest volume of 348,000 tonnes, including the relative share from Scottish Sea Farms, in line with 2026. This includes 307,000 tonnes from Norway and SalMar Ocean, 18,000 tonnes from Icelandic Salmon and 45,000 tonnes from Scottish Sea Farms on a 100 per cent basis. Måsøval is not included in the harvest volume guidance for 2027, as the transaction remains subject to relevant regulatory approvals.

SalMar expects low global supply growth in 2027 and continues to see strong demand for its products.

Måsøval transaction process progressing according to plan

In July 2026, SalMar ASA entered into an agreement with Heimstø AS to acquire Heimstø’s 85,727,553 shares in Måsøval AS, representing approximately 70 per cent of the share capital. The purchase price is NOK 39.50 per share, corresponding to a total consideration of approximately NOK 3.4 billion. The transaction is subject to customary closing conditions, including relevant regulatory approvals. The process of obtaining the necessary regulatory approvals is progressing according to plan.

The transaction is expected to provide SalMar with an even stronger platform for further sustainable growth in Central Norway, with potential for improved utilisation of resources, expertise and infrastructure, as well as further development on the salmon’s terms and long-term value creation along the Norwegian coast.

The full report and presentation for the third quarter are attached.

SalMar’s CEO Frode Arntsen and CFO Ulrik Steinvik will present the company’s results today at 08:00 at Hotel Continental in Oslo. The presentation will also be webcasted on www.salmar.no.

For more information, please contact:

Frode Arntsen, CEO
Tel: +47 482 06 665
E-mail: frode.arntsen@salmar.no

Ulrik Steinvik, CFO
Tel: +47 900 84 538
E-mail: ulrik.steinvik@salmar.no

Håkon Husby, Head of IR
Tel: +47 936 30 449
E-mail: hakon.husby@salmar.no

About SalMar

SalMar is one of the world’s largest and most efficient producers of salmon. The Group has farming operations in Central Norway, Northern Norway, Offshore and Iceland, as well as substantial harvesting and secondary processing operations. In addition SalMar owns 50% of Scottish Sea Farms Ltd.

See www.salmar.no for more information about the company.

This information is subject to the disclosure requirements stipulated in section 5-12 of the Norwegian Securities Trading Act.

Attachments

• SalMar Q3 26 – Report
• SalMar Q3 26 – Presentation

— Amendment revised royalty structure from low-to-mid-single digits to 1% on global net sales of Rhythm MC4R agonists, including setmelanotide, bivamelagon and RM-718 —

— Rhythm to pay LG Chem additional fixed payments totaling $350 million over four years —

— Rhythm secures $750 million term-loan facility led by KKR’s HealthCare Royalty in partnership with Blackstone to support the amended LG Chem agreement, global commercialization efforts and continued pipeline investment —

BOSTON, Nov. 02, 2026 (GLOBE NEWSWIRE) — Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM) today announced an amendment to the global exclusive license agreement with LG Chem, Ltd. for bivamelagon, an investigational oral small-molecule melanocortin-4 receptor (MC4R) agonist. The Company also announced a five-year term loan facility led by KKR’s HealthCare Royalty (“HealthCare Royalty”) in partnership with funds managed by Blackstone (“Blackstone”), providing access to up to $750 million of capital.

“MC4R agonism has been shown to achieve a profound impact on patients living with hyperphagia and severe obesity associated with rare MC4R pathway diseases,” said David Meeker, M.D., Chairman, President and Chief Executive Officer of Rhythm. “With its deep scientific expertise, LG Chem succeeded where many failed in developing the first oral MC4R agonist in bivamelagon, which has been shown to achieve clinically meaningful weight loss in patients living with acquired hypothalamic obesity (HO). Our commitment to this program reflects our confidence in bivamelagon’s potential to deliver meaningful benefits for patients and create substantial long-term value for shareholders.”

“This amendment reflects the strong confidence both companies have in the value and potential of bivamelagon,” said Jeewoong Son, President of LG Chem Life Sciences Company. “By expanding global development efforts, we hope to accelerate patient access to an innovative treatment option for rare obesity diseases.”

Bivamelagon Licensing Agreement
In January 2024, Rhythm entered into a global licensing agreement with LG Chem for exclusive worldwide rights to develop and commercialize bivamelagon, then known as LB54640. Under the original agreement, Rhythm paid LG Chem a total of $80 million in cash and $20 million in Rhythm common stock and agreed to potential regulatory and sales milestone payments of up to $205 million, as well as commercial sales royalties of low-to-mid-single digits on global net sales of products within Rhythm’s MC4R portfolio, dependent upon the number of indications approved by regulatory authorities.

Under the terms of the amended agreement, Rhythm will make additional fixed payments totaling $350 million to LG Chem in four installments: $70 million within 15 business days following the effective date of the Amendment, which is Nov. 2, 2026; $100 million in September 2027; $100 million in September 2028; and $80 million in September 2029. In addition, the variable royalty structure in the original agreement will be replaced with a 1% royalty on global net sales of products within Rhythm’s MC4R portfolio, beginning on January 1, 2029, or upon the first commercial sale of bivamelagon, if earlier.

With LG Chem’s agreement, Rhythm may satisfy certain of the foregoing fixed payment obligations through additional royalties.

In addition to potential development, regulatory and commercial milestone payments totaling up to $205 million in the original agreement, the amendment includes an additional milestone payment of up to $200 million based on achievement of $3 billion in annual global net sales of its MC4R portfolio.

Term Loan Facility Highlights:
Today, Rhythm also announced that it has entered into a $750 million term-loan facility, with $500 million committed, led by KKR’s HealthCare Royalty in partnership with Blackstone, to support the amended licensing agreement with LG Chem as well as ongoing global commercialization efforts and R&D programs.

The five-year term loan facility includes an initial $250 million draw at closing, which is expected to occur on November 6, 2026, subject to the satisfaction of customary closing conditions, and up to $250 million of additional committed capital through June 30, 2028 at Rhythm’s option, in three delayed-draw tranches consisting of two tranches of $100 million and one tranche of $50 million. In addition, Rhythm has access to an additional $250 million by mutual agreement. Borrowings under the facility will bear interest at the Secured Overnight Financing Rate, or SOFR, plus 4.60%. The five-year loan has no scheduled principal amortization prior to maturity and no equity component. The facility includes customary prepayment premiums that decline over the term of the loan.

In connection with the term loan, Rhythm and HealthCare Royalty have agreed to amend the Company’s existing revenue interest financing agreement, with the amendment expected to become effective upon the closing of the term loan. The amendments remove the debt-like covenants and default provisions, limit the collateral securing the agreement and modify the agreement’s material adverse effect provisions.

“We value our partnership with HealthCare Royalty and welcome our new partnership with Blackstone. We believe the mutually beneficial terms of this financing agreement enhance our financial flexibility while positioning us to create meaningful long-term shareholder value,” said Hunter C. Smith, Chief Financial Officer of Rhythm.

“Rhythm has established a clear leadership position in MC4R pathway diseases, supported by a growing commercial foundation and a differentiated pipeline spanning multiple potential indications,” said Clarke B. Futch, Chairman and Chief Executive Officer of HealthCare Royalty.

M. Craig Shepherd, Senior Managing Director, Blackstone, added, “We are pleased to partner with Rhythm and HealthCare Royalty through a financing structure that supports the Company’s long-term strategy and reflects our shared confidence in the value and potential of its MC4R portfolio.”

J. Wood Capital Advisors served as financial advisor to Rhythm in connection with the financing.

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

About LG Chem
LG Chem is a leading global chemical company with a diversified business portfolio spanning across petrochemicals, advanced materials, and life sciences. LG Chem Life Sciences, the life sciences business division of LG Chem, is dedicated to developing and delivering innovative medicines across a broad range of therapeutic areas. Guided by its mission to transform people’s lives through inspiring science and leading innovation, LG Chem Life Sciences is offering differentiated solutions to its customers. For more information, please visit www.lgchem.com.

About HealthCare Royalty, a business of KKR
HealthCare Royalty is a leading royalty acquisition company founded in 2006 that is majority owned by KKR & Co. Inc. (NYSE: KKR). Over two decades, the HealthCare Royalty team has developed a strong track record of investing in commercial-stage and near-commercial-stage biopharmaceutical assets, committing $8+ billion in over 110 biopharmaceutical products. With offices in New York, San Francisco, Boston, London and Miami, HealthCare Royalty continues to advance biopharmaceutical innovation by providing innovative capital solutions to counterparties. For more information, visit https://www.hcrx.com. HEALTHCARE ROYALTY^® and HCRx^® are registered trademarks of HealthCare Royalty Management, LLC.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s nearly $1.4 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.  

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

In the European Union and the United Kingdom, setmelanotide is indicated for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 2 years of age and above, and for the treatment of obesity and control of hunger in adults and children 4 years of age and above with acquired hypothalamic obesity due to hypothalamic injury or impairment. In the European Union and the United Kingdom, setmelanotide should be prescribed and supervised by a physician experienced in the diagnosis and management of rare forms of obesity with genetic or hypothalamic origin.

Limitations of Use

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

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

Important Safety Information

CONTRAINDICATIONS

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

WARNINGS AND PRECAUTIONS

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

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

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

Skin Hyperpigmentation, Darkening of Pre-existing Nevi, and Development of New Melanocytic Nevi: Generalized or focal increases in skin pigmentation occurred in the majority of IMCIVREE-treated patients. IMCIVREE may also cause development of new melanocytic nevi or darkening of pre-existing nevi. Perform a full body skin examination prior to initiation and periodically during treatment to monitor pre-existing and new pigmented lesions.

Acute Adrenal Insufficiency with Acquired HO: Patients with acquired HO and secondary adrenal insufficiency reported serious adverse reactions related to acute adrenal insufficiency in 5% of IMCIVREE-treated patients and no placebo-treated patients. In patients with secondary adrenal insufficiency, monitor for clinical signs of acute adrenal insufficiency.

Sodium Imbalance in Patients with Acquired HO and Central Diabetes Insipidus: Patients with acquired HO and concomitant central diabetes insipidus (DI)/arginine vasopressin (AVP) deficiency reported hyponatremia in 6% of IMCIVREE-treated patients and 2% of placebo-treated patients and hypernatremia in 5% of IMCIVREE-treated patients and 4% of placebo-treated patients. Monitor serum sodium levels with changes in fluid intake and hydration status. Adjust the doses of concomitant therapies for DI/AVP deficiency as needed.

ADVERSE REACTIONS

Most common adverse reactions (incidence ≥20% in at least 1 indication) included skin hyperpigmentation, injection site reactions, nausea, headache, diarrhea, abdominal pain, vomiting, depression, and spontaneous penile erection.

USE IN SPECIFIC POPULATIONS

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

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

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

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the safety, efficacy, potential benefits of, and clinical design or progress of any of our products or product candidates at any dosage or in any indication, including, setmelanotide, bivamelagon, and RM-718; our continued collaboration with LG Chem; the anticipated benefits of the term loan; the expected timing of the closing and initial funding of the term loan and the effectiveness of the amendment to our revenue interest financing agreement; the estimated market size and addressable population for our drug products, including setmelanotide for the treatment of acquired HO; and the timing of any of the foregoing. Statements using words such as “expect”, “anticipate”, “believe”, “may”, “will” and similar terms are also forward-looking statements. Such statements are subject to numerous risks and uncertainties, including, but not limited to, the satisfaction of the conditions to closing of the term loan, our ability to enroll patients in clinical trials, the design and outcome of clinical trials, the impact of competition, the ability to achieve or obtain necessary regulatory approvals, risks associated with data analysis and reporting, unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, risks associated with the laws and regulations governing our international operations and the costs of any related compliance programs, our ability to successfully commercialize setmelanotide, our liquidity and expenses, our ability to retain our key employees and consultants, and to attract, retain and motivate qualified personnel, and general economic conditions, and the other important factors, including those discussed under the caption “Risk Factors” in Rhythm’s Quarterly Report on Form 10-Q for the three months ended June 30, 2026, and in Rhythm’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 to be filed with the Securities and Exchange Commission (the “SEC”) and our other filings with the SEC. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.

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

Kate Walsh
Director, Corporate Communications
Rhythm Pharmaceuticals, Inc.
(857) 264-4280
kwalsh@rhythmtx.com

HOUSTON, Nov. 02, 2026 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of October 31, 2026.

As of October 31, 2026, the Company’s net assets were $2.9 billion, and its net asset value per share was $17.02. As of October 31, 2026, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 703% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 536%.

STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2026   // (UNAUDITED)
		(in millions)
Investments		$	4,021.4
Cash and cash equivalents			3.6
Accrued income			9.9
Other assets			0.4
Total assets			4,035.3
Credit facility			53.0
Notes			450.0
Unamortized notes issuance costs			(3.0	)
Preferred stock			156.6
Unamortized preferred stock issuance costs			(0.9	)
Total leverage			655.7
Payable for securities purchased			3.8
Other liabilities			18.7
Current tax liability, net			12.7
Deferred tax liability, net			465.9
Total liabilities			501.1
Net assets		$	2,878.5

The Company had 169,126,038 common shares outstanding as of October 31, 2026.

Long-term investments consisted of Midstream Energy Companies (98%), Power Infrastructure Companies (1%) and Other (1%).

The Company’s ten largest holdings by issuer at October 31, 2026 were:

			Amount (in millions)			% Long-Term Investments
1.	Cheniere Energy, Inc. (Midstream Energy Company)		$473.6			11.8	%
2.	Energy Transfer LP (Midstream Energy Company)			429.6		10.7	%
3.	The Williams Companies, Inc. (Midstream Energy Company)			389.8		9.7	%
4.	Enterprise Products Partners L.P. (Midstream Energy Company)			388.2		9.7	%
5.	Targa Resources Corp. (Midstream Energy Company)			288.8		7.2	%
6.	MPLX LP (Midstream Energy Company)			280.9		7.0	%
7.	ONEOK, Inc. (Midstream Energy Company)			274.6		6.8	%
8.	Kinder Morgan, Inc. (Midstream Energy Company)			229.0		5.7	%
9.	TC Energy Corporation (Midstream Energy Company)			168.0		4.2	%
10.	Western Midstream Partners, LP (Midstream Energy Company)			150.7		3.7	%

Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock trades on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly or annual report for a description of these investment categories and the meaning of capitalized terms.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. Risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual results or events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

Supported The Michael J Fox Foundation for Parkinson’s Research, Alzheimer’s Research UK and LifeArc, the study targets earlier detection, prevention and treatment of Parkinson’s disease, Alzheimer’s disease and other neurodegenerative conditions including rare dementias

FREMONT, Calif. and HELSINKI, Finland, Nov. 02, 2026 (GLOBE NEWSWIRE) — Alamar Biosciences, Inc. (Nasdaq: ALMR) and Nightingale Health Plc (Nasdaq Helsinki: HEALTH, OTCQX: NHLTY, NGHLF) today announced the launch of the UK Biobank vanguard study to measure blood-based biomarkers that are of particular importance for neurodegenerative disease. The UK Biobank Proteomics for Risk Identification and Signatures of brain health in Midlife (UKB-PRISM) study will be conducted in Nightingale’s laboratories using Alamar’s NULISA platform, which is purpose-built to detect low-abundance proteins at a sensitivity not previously achievable at scale, and will measure hundreds of circulating protein biomarkers in 80,000 blood samples from UK Biobank participants. Findings will create one of the world’s largest open-access resources for understanding the early molecular indicators of neurodegeneration.

“Understanding how the brain stays healthy as we age is one of the biggest challenges in medical research,” said Dr. Adam Lewandowski, deputy chief scientist at UK Biobank. “Proteins play a vital role in this process, helping to repair tissue, regulate inflammation and support countless functions throughout the body. Yet we still know relatively little about how they work together to influence brain health. Made possible by the generosity of our participants, these new data will provide an invaluable snapshot of the proteins associated with brain health decades before conditions such as dementia and Parkinson’s disease are diagnosed.”

Neurodegenerative disease represents one of medicine’s most urgent unmet needs. Alzheimer’s disease and other forms of dementia affect more than 55 million people globally and are on track to nearly triple by 2050. Parkinson’s disease, the world’s fastest-growing neurological disorder, affects more than 12 million people today and is projected to exceed 25 million by 2050. In both diseases, biological changes may begin years before diagnosis. By measuring proteins of individuals long before symptoms emerge, this study creates a rare opportunity to understand Alzheimer’s and Parkinson’s as overlapping conditions with shared biological roots and to identify the earliest molecular signals when intervention is still possible.

“For decades, the earliest biology of neurodegeneration has been out of reach in blood because the proteins that matter most are present in such small amounts. NULISA was designed to change that,” said Yuling Luo, PhD, founder, CEO and chair of Alamar Biosciences. “Working with Nightingale and UK Biobank, we can now measure those signals across tens of thousands of people, years before symptoms appear, and give researchers everywhere a new way to ask when and why these diseases begin.”

“This study reflects what Nightingale has built: a laboratory platform that delivers high-quality blood biomarker data at population scale. We have already generated metabolomic data on all 500,000 UK Biobank participants, and adding brain health protein biomarkers measured in our laboratories to the same cohort creates a uniquely rich resource for understanding the earliest molecular changes behind dementia, Parkinson’s disease and related conditions. Identifying disease risk years before symptoms appear is the foundation of preventive healthcare, and studies like this show it can be done at the scale that real impact requires,” said Teemu Suna, founder and CEO of Nightingale Health.

The study is funded by The Michael J. Fox Foundation,  Alzheimer’s Research UK, and LifeArc, and is expected to be completed by the end of 2027. Combined with UK Biobank’s uniquely rich imaging, genetic, metabolomic and lifestyle data, these new data will create a powerful resource for researchers worldwide, helping to unlock discoveries that could lead to earlier detection and better treatments for these conditions. Following its completion, the full dataset will be made available to approved researchers worldwide through the UK Biobank Research Analysis Platform.

“Large-scale proteomic data can help researchers better understand the biological changes associated with neurodegenerative disease and identify signals that may be difficult to detect through clinical measures alone,” said Samantha Hutten, PhD, principal biomarker scientist, translational research at The Michael J. Fox Foundation for Parkinson’s Research. “By making these data available alongside UK Biobank’s genetic, imaging and longitudinal health information, this project will create new opportunities to study disease biology, evaluate potential biomarkers and inform future therapeutic research.” 

“The scale of this study, combined with the cutting-edge technologies being used, has the potential to transform our understanding of how dementia starts and progresses,” said Dr. Sheona Scales, director of research at Alzheimer’s Research UK. “Understanding the biological changes that underpin Alzheimer’s disease is essential to developing treatments that can slow or stop its progression. We’re excited by the potential of this study to pave the way for earlier diagnosis and more effective treatments.”

“Rare dementias can be particularly difficult to diagnose, with symptoms that overlap with other conditions and clues that may only become clear when different kinds of health data are brought together,” said Sam Barrell, CEO of LifeArc. “By combining large-scale protein measurements with UK Biobank’s extensive health data, this study will give researchers a valuable resource to investigate the biological changes behind neurodegenerative diseases, including rare dementias. This could help build a better understanding of these conditions and lay the groundwork for more accurate diagnosis in the future.”

About Alamar Biosciences 
Alamar is a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Leveraging our proprietary NULISA™ technology and the ARGO® HT System, our platform is designed to detect protein biomarkers at extremely low concentrations in blood with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation. We refer to this combination of features as “Precision Proteomics,” and believe it fills a critical gap in the field of advanced proteomics, helping researchers unlock the full spectrum of protein biomarkers across disease states. Learn more at alamarbio.com. 

About Nightingale Health
Nightingale Health’s technology is validated in over 1,000 peer-reviewed scientific publications and is used in many of the world’s leading health studies, including the UK Biobank. In Finland, the Nightingale Health Check is in nationwide healthcare use, and over 250,000 people have already received their results. Nightingale Health operates globally with a parent company in Finland and subsidiaries in countries such as Japan, the United States, Singapore, and the United Kingdom, and has customers in more than 34 countries across healthcare and medical research. The company’s Series B shares are listed on the Main Market of Nasdaq Helsinki and on the OTCQX International market. Read more at nightingalehealth.com.

Forward Looking Statements 
This press release may contain forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding Alamar Biosciences’ ability to unlock high-quality multiplexed proteomic data from remotely collected samples. Any forward-looking statements in this press release are based on Alamar Biosciences’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Readers are cautioned that actual results could differ materially from those expressed or implied in Alamar Biosciences’ forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to intense competition in the proteomics market, exposure to legal proceedings, regulatory inquiries and other legal matters, failure to develop new assays or instruments, dependence on researchers who rely heavily on government funding, reductions in spending by research and academic institutions, the potential for products to be subject to more onerous regulation by the FDA or other regulatory requirements, the complexity of manufacturing Alamar Biosciences’ instruments and consumables, failure to obtain marketing authorizations for future products that are intended for clinical or diagnostic use, Alamar Biosciences’ ability to protect its intellectual property, and the other risks described in Alamar Biosciences’ filings with the U.S. Securities and Exchange Commission. Alamar Biosciences explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law. 

Alamar Biosciences Media Contact: 
Media@alamarbio.com 

Alamar Biosciences Investor Contact: 
Investors@alamarbio.com 

Nightingale Contact:
Teemu Suna, CEO
ir@nightingalehealth.com

GBLI reports third quarter 2026 results before market open on November 4, as scheduled

WILMINGTON, Del., Nov. 02, 2026 (GLOBE NEWSWIRE) — Global Indemnity Group, LLC (NASDAQ: GBLI) (“GBLI” or the “Company”) plans an investor call in January to introduce Jessica Buss, its new Chief Executive Officer, who will set out her vision for GBLI and her priorities for building its businesses. GBLI will announce the date, time and access details in a separate release.

Ms. Buss’s call replaces the third quarter 2026 earnings call set for Wednesday, November 4, 2026, at 11:00 a.m. Eastern. GBLI will release its third quarter results before market open that morning, as scheduled.

About GBLI

GBLI is a publicly traded holding company with a diversified portfolio of property and casualty insurance-related operating companies, organized in three groups:

Katalyx Holdings LLC

• Four agencies that source, underwrite and service primary and assumed reinsurance business: Penn-America Insurance Services, LLC; Valyn Re LLC; J.H. Ferguson & Associates, LLC (including Vacant Express); and Collectibles Insurance Services, LLC.
• Two specialized insurance service businesses: Sayata, an AI-enabled digital marketplace and agency for small commercial insurance; and Liberty Insurance Adjustment Agency, Inc., which evaluates and adjusts claims and provides related services.

Belmont Holdings GX, Inc.
Five statutory insurance carriers, each rated “A” (Excellent) by AM Best: Penn-America Insurance Company, United National Insurance Company, Penn-Patriot Insurance Company, Diamond State Insurance Company and Penn-Star Insurance Company.

Kaleidoscope Insurance Technologies, Inc.
Kaleidoscope builds GBLI’s proprietary AI-enabled underwriting, policy and data platform, which serves Katalyx’s agencies, GBLI’s agency partners, the Belmont carriers and the Company’s broader digital initiatives.

For more information, visit www.gbli.com.

Forward-Looking Information

The forward-looking statements in this press release are made pursuant to the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934 and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements. These statements are based on management’s current expectations and information available as of the date of this release.

Factors that could cause actual results to differ include, among others, risks related to the timing and execution of GBLI’s strategy, including its growth, technology and distribution initiatives, and other operational or strategic risks. Additional details regarding these and other risks and uncertainties can be found in GBLI’s filings with the Securities and Exchange Commission. GBLI undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances.

Investor / Media Contact:

Scott Eckstein  KCSA Strategic Communications (212) 896-1210 GBLI@kcsa.com

The Company Has Entered into an Agreement to Effectuate a Balance Sheet Restructuring Which Will Address $1.275 Billion of Senior Notes and Provide $400 Million of Fully Backstopped New Capital to Position Mercer for Long-Term Success

Operations will Continue in the Ordinary Course with No Impact on Customers, Suppliers and Employees

Highlights

• Significantly stronger balance sheet: Approximately $1.1 billion of Senior Notes to be exchanged for equity, reducing existing Senior Note debt by approximately 88%, with minimal cash interest requirements over the first two years following emergence, and no bond maturities until 2031. The Recapitalization eliminates approximately $96 million of annual cash interest on the Senior Notes
• Substantial new capital and liquidity: $400 million of new money through a rights offering of new senior secured notes 100% backstopped by certain members of the Ad Hoc Group to provide significant liquidity to support Mercer’s operations post-emergence
• Meaningful shareholder participation: Existing shareholders to receive approximately 8.5% of the new common stock and 3.5% of the new convertible preferred stock of the reorganized Company
• Strong stakeholder support: Restructuring support agreements signed with holders of more than 87% of outstanding principal amount of Mercer’s Senior Notes and a majority of the outstanding shares of its common stock
• Continuity of business operations: The Company and its operating businesses will continue to operate in the ordinary course of business: customers will continue to be served, vendors and unsecured claims will be paid in the ordinary course, and employee wages and benefits will continue without interruption
• Expedited implementation: The Recapitalization is being implemented through a prepackaged joint Chapter 11 plan of reorganization for Mercer International Inc., the parent company, and Mercer International (Texas) LLC. No other subsidiary is directly impacted by the implementation of the plan of reorganization. Confirmation of the plan of reorganization is expected within approximately 45 days of filing, and the Recapitalization is expected to be completed by the end of 2026, subject to customary conditions, including receipt of any requisite regulatory approvals

NEW YORK, Nov. 02, 2026 (GLOBE NEWSWIRE) — Mercer International Inc. (Nasdaq: MERC) (“Mercer” or the “Company”) today announced that it has entered into restructuring support agreements (the “RSAs”) with holders of more than 87% of the aggregate outstanding principal amount of its 12.875% Senior Notes due 2028 and 5.125% Senior Notes due 2029 (together, the “Senior Notes”), including the members of an ad hoc group of noteholders (the “Ad Hoc Group”), and with holders of a majority of the outstanding shares of its common stock. The RSAs set out the terms of a comprehensive recapitalization of the Company (the “Recapitalization”) that is expected to significantly reduce Mercer’s debt, extend its maturity runway and provide substantial new liquidity.

Juan Carlos Bueno, President and Chief Executive Officer, stated: “This transaction is a decisive step forward for Mercer and is the result of constructive and arm’s-length negotiations between Mercer and key stakeholder groups.

With the support of the majority of our noteholders and shareholders, we are putting in place a much stronger balance sheet and the liquidity to navigate current pulp and lumber market and geopolitical conditions. Upon emergence, we will be better positioned to invest in, and grow, our business.

This is a balance sheet recapitalization only. Our mills in Germany, Canada and the United States are operating as usual, and we expect to continue to meet our commitments to customers, suppliers and employees in the ordinary course.”

Mr. Bueno continued, “I want to thank our employees for their dedication and hard work, our customers, suppliers and community partners for their continued support, and our noteholders and shareholders for their confidence in Mercer’s future. Their support reflects their confidence in our people, long-term business plan and high-quality pulp, lumber and mass timber products. We look forward to completing this process efficiently and emerging as a stronger company.”

The Recapitalization

The RSAs provide for the following principal terms, among others:

• New money rights offering: Holders of Senior Notes will have the right to purchase their pro rata share of $420.0 million aggregate principal amount of new senior secured notes (the “New Money Senior Secured Notes”), inclusive of $20.0 million of original issue discount, for aggregate cash proceeds of $400.0 million, subject to the terms of the RSAs (the “Rights Offering”). Each participant in the Rights Offering that exercises its rights will also receive their pro rata share of 40.0% of the new common stock and 40.0% of the new convertible preferred stock.
• Full backstop: The Rights Offering is fully backstopped by certain members of the Ad Hoc Group, subject to the terms of a backstop commitment letter (the “Backstop Commitment Letter”).
• Senior Notes: Holders of Senior Notes will receive their pro rata share of (i) 91.5% of the new common stock (subject to dilution by the management incentive plan, the new common stock issued in the Rights Offering, and the conversion of the new convertible preferred stock), (ii) 56.5% of the new convertible preferred stock, (iii) $150.0 million of new takeback senior secured notes and (iv) the rights to participate in the Rights Offering.
• New senior secured notes: The New Money Senior Secured Notes, as well as $150 million of takeback notes and $56 million of put option notes, will (i) be issued under a single new indenture, (ii) will mature four years and 364 days after issuance and (iii) will have no scheduled amortization. For the first two years after issuance, the Company may elect to pay interest substantially in kind, preserving cash for the business.
• Existing shareholders: Holders of existing common stock will receive their pro rata share of 8.5% of the new common stock and 3.5% of the new convertible preferred stock, in each case subject to dilution only by the management incentive plan and conversion of the new convertible preferred stock. Existing common stock will be cancelled when the plan of reorganization becomes effective.
• New convertible preferred stock: The reorganized Company will issue $325.0 million of new convertible preferred stock, with dividends payable in kind and convertible into new common stock, on the terms set out in the RSAs.
• Trade and other unsecured creditors: Trade claims and other general unsecured claims are unimpaired and are to be paid in full on the effective date of the plan of reorganization or in the ordinary course of business.

In connection with the Recapitalization, the Company expects to repay, in whole or in part, its existing credit facilities and establish one or more new revolving credit facilities providing up to $300 million of aggregate revolving commitments.

The foregoing is a summary only. The RSAs will be filed as an exhibit to a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, and investors should refer to those documents for further information, including their complete terms.

Implementation of the Recapitalization

To implement the transactions, Mercer and Mercer International (Texas) LLC, a non-operating U.S. subsidiary, expect to commence voluntary Chapter 11 prepackaged cases under the United States Bankruptcy Code (the “Chapter 11 Cases”) and file a plan of reorganization (the “Plan”) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”). Completion of the Recapitalization is subject to customary conditions, including any requisite regulatory approvals and the Company is optimistic that it will be able to conclude this expedited Chapter 11 process by the end of 2026.

Mercer’s common stock continues to trade on Nasdaq under the symbol “MERC.” Nasdaq has discretionary authority under its listing rules to delist the securities of a company that commences Chapter 11 cases, and Mercer expects that it will receive notice from Nasdaq that it has determined to delist the common stock. If trading of the common stock on Nasdaq is suspended, Mercer expects that its common stock will be quoted on an over-the-counter market, although there can be no assurance that it will be quoted or that an active trading market will exist.

When the Recapitalization is completed, the existing common stock will be cancelled and holders will receive their pro rata share of the new common stock and new convertible preferred stock described above. On or after the effective date of the Plan, the Company intends to apply to list the new common stock on Nasdaq or another national securities exchange, subject to meeting the applicable initial listing requirements, and expects to continue to file periodic reports with the Securities and Exchange Commission. Shareholders will not need to take any action to receive their new securities, other than voting on the Plan if they wish to do so.

2028 Senior Notes Supplemental Indenture

As previously announced, Mercer elected not to make the interest payment due October 1, 2026 on its 12.875% Senior Notes due 2028 and to utilize the applicable grace period. On October 30, 2026, Mercer entered into a supplemental indenture extending that grace period from 30 calendar days to 90 calendar days.

Advisors

Houlihan Lokey is serving as investment banker, Alvarez & Marsal is serving as financial advisor, and Latham & Watkins LLP and Sangra Moller LLP are serving as legal counsel to the Company. Ducera Partners LLC is serving as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the Ad Hoc Group. Stretto, Inc. is serving as claims and solicitation agent under the Recapitalization.

Additional Information

For additional information regarding the Restructuring, including related materials, please visit the Company’s investor relations website at https://mercerint.com/investors/.

About Mercer International Inc.

Mercer International Inc. is a global forest products company with operations in Germany, the United States and Canada with consolidated annual production capacity of 2.1 million tonnes of pulp, 1,023 million board feet of lumber, 210,000 cubic meters of cross-laminated timber, 45,000 cubic meters of glulam, 17 million pallets and 230,000 metric tonnes of biofuels. For further information about the Company, please visit www.mercerint.com.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. This press release is not a solicitation of votes to accept or reject the Plan or any other Chapter 11 plan. Any such solicitation will be made only pursuant to and in accordance with the disclosure statement and related solicitation materials, and only to the extent permitted by applicable law. The New Money Senior Secured Notes, put option notes, takeback senior secured notes and any new common stock or new convertible preferred stock to be issued in connection with the Rights Offering have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The new common stock and new convertible preferred stock to be distributed under the Plan, other than in connection with the Rights Offering, are expected to be issued pursuant to section 1145 of the Bankruptcy Code or another available exemption from registration under the Securities Act.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding the Recapitalization and the Plan and its anticipated terms and the Company’s operations, liquidity and business plan. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including the Company’s ability to obtain the requisite acceptances of the Plan; the Company’s ability to complete the Chapter 11 Cases and obtain Court approval of the Plan and related relief on the anticipated timeline; the Company’s ability to satisfy the milestones and conditions under the RSAs and the conditions to effectiveness of the Plan; the termination of the RSAs or the Backstop Commitment Letter; the Company’s ability to consummate the Rights Offering and enter into new revolving credit facilities on the expected terms or at all; the effect of the Recapitalization and the Chapter 11 Cases on the Company’s liquidity, operations and relationships with customers, suppliers, employees and other stakeholders; the trading price and volatility of, and any suspension or delisting of, the Company’s existing common stock; the dilution of existing shareholders’ interests; whether the new common stock is listed on a national securities exchange; conditions in pulp, lumber and mass timber markets; and other operational and business risks, including those described under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to update them except as required by law.

APPROVED BY:

William D. McCartney
Chairman
(604) 684-1099

Juan Carlos Bueno
Chief Executive Officer
(604) 684-1099

Outstanding Performance Driven by Combination of Strong Demand and Operational Execution; Raises Lower End of 2026 Guidance Range

Third Quarter 2026 Highlights*:

• Produced Record 3Q Consolidated results
• Net Sales increased 35% to 218.0 million
• Net Income increased 166% to $21.2 million, creating EPS of $0.89
• Adjusted EBITDA increased 89% to $37.9 million
• Adjusted diluted EPS increased 145% to $0.98

*All comparisons are to third quarter 2025 financials

MILWAUKEE, Nov. 02, 2026 (GLOBE NEWSWIRE) — Douglas Dynamics, Inc. (NYSE: PLOW), North America’s premier manufacturer and upfitter of work truck attachments and equipment, today announced financial results for the third quarter ended September 30, 2026. Unless otherwise stated, all comparisons made in this document are between the third quarters of 2026 and 2025.

Mark Van Genderen, President & CEO, noted, “The business results our team has delivered through the first nine months of the year is exceptional and demonstrates the earnings power of our business and the effectiveness of the strategic actions we have taken over the past several years. Our operational execution remains strong, and while we wait for winter to begin, we believe we are well positioned to continue advancing our strategic initiatives.”

Consolidated Third Quarter 2026 Results

• Net Sales increased 35% to a record $218.0 million based on a strong pre-season and execution at Work Truck Attachments.
• Net Income increased 166% to a record $21.2 million, producing $0.89 of diluted EPS.
• Adjusted EBITDA increased 89% to a record $37.9 million, which drove record adjusted diluted EPS of $0.98, a 145% increase.

$ in millions (except Margins & EPS)	Q3 2026	Q3 2025
Net Sales	$218.0	$162.1
Gross Profit Margin	27.4%	23.5%
Income from Operations	$31.3	$14.1
Net Income	$21.2	$8.0
Diluted EPS	$0.89	$0.33
Adjusted EBITDA	$37.9	$20.1
Adjusted EBITDA Margin	17.4%	12.4%
Adjusted Net Income	$23.3	$9.5
Adjusted Diluted EPS	$0.98	$0.40

Work Truck Attachments Segment Third Quarter 2026 Results

• Net Sales increased 78% to a record $121.5 million, as robust preseason demand and strong operational execution led to higher throughput, plus the addition of Venco Venturo.
• Adjusted EBITDA increased 188% to $30.1 million and Adjusted EBITDA margin increased 945 basis points to 24.8%, based on higher throughput, product mix, plus the timing of shipments between the second and third quarters.
• As predicted, the continued strength of parts and accessories demand led year-to-date P&A shipments to already exceed the previous annual record set in 2025.
• As expected, the ratio of pre-season shipments was close to a 50% to 50% split between the second and third quarters, compared to a 60% to 40% split in 2025.

Van Genderen explained, “We are proud of the operational performance from our Attachments team, which responded to the robust demand for our products with a tremendous effort to produce and ship equipment to our dealers. The subsequent improvements in throughput, plus positive product mix led to significant margin improvement for the quarter and year-to-date. Heading into the winter season with confidence, we are driving results through disciplined execution of our strategic initiatives and remain determined to build upon our recent success.”

$ in millions (except Adjusted EBITDA Margin)	Q3 2026	Q3 2025
Net Sales	$121.5	$68.1
Adjusted EBITDA	$30.2	$10.5
Adjusted EBITDA Margin	24.8%	15.4%

Work Truck Solutions Segment Third Quarter 2026 Results

• Net Sales increased 3% to a record $96.5 million, with Adjusted EBITDA of $7.8 million, reflecting sustained strong demand across municipal end markets, which helped mitigate the impact of inconsistent commercial demand.

Van Genderen noted, “The record top-line performance in Solutions is a significant achievement, given that the prior-year third quarter also produced a record. Although inconsistent commercial demand has impacted profitability, the segment continues to perform well overall, supported by sustained municipal demand and a positive outlook. Investments to expand capacity and support growing municipal demand remain on track, and we expect to begin operations at our new Ohio facility in the coming weeks.”

$ in millions (except Adjusted EBITDA Margin)	Q3 2026	Q3 2025
Net Sales	$96.5	$94.0
Adjusted EBITDA	$7.8	$9.6
Adjusted EBITDA Margin	8.1%	10.2%

Dividend & Liquidity

• On a year-to-date basis, approximately $27 million of cash was returned to shareholders through the payment of a quarterly cash dividend of $0.295 per diluted share, and the repurchase of company stock.
• Net cash used in operating activities increased $26.3 million to $47.5 million for the first nine months of 2026. The change was due to increased working capital to support demand across both segments.
• Year to date capital expenditures increased by $3.1 million to $11.2 million as planned. 2026 Capital Expenditures are expected to fall within the traditional range of 2% to 3% of Net Sales.

2026 Outlook

Sarah Lauber, Executive Vice President and CFO noted, “This year has exceeded our expectations in many respects, and, through the first nine months of the year, we have surpassed our full-year record Adjusted EPS achieved in 2019. Reflecting this momentum and our continued strong execution, we are increasing the lower end of our guidance ranges. While we are pleased with our progress, it is important to remember that the fourth quarter for our Attachments segment is influenced by the timing and severity of winter weather, which can create meaningful variability in year-end results.”

2026 Outlook Ranges*
	Former		Current
	Low	High	Low	High
Net Sales	$765	$805	$770	$805
Adjusted EBITDA	$120	$135	$123	$135
Adjusted Diluted EPS	$2.90	$3.40	$3.00	$3.40
Effective tax rate	24%	25%	24%	25%
*In millions, except per share, and tax rate data

The 2026 outlook assumes that core markets will experience average snowfall in the fourth quarter of 2026.

With respect to the Company’s 2026 financial outlook, the Company is not able to provide a reconciliation of the non-GAAP financial measures to GAAP because it does not provide specific guidance for the various extraordinary, nonrecurring, or unusual charges and other certain items. These items have not yet occurred, are out of the Company’s control and/or cannot be reasonably predicted. As a result, reconciliation of the non-GAAP guidance measures to GAAP is not available without unreasonable effort and the Company is unable to address the probable significance of the unavailable information.

Earnings Conference Call Information

The Company will host a conference call on Tuesday, November 3, 2026, at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). To join the conference call, please dial 1-833-634-5024 domestically, or 1-412-902-4205 internationally.

The call will also be available via the Investor Relations section of the Company’s website at www.douglasdynamics.com. For those who cannot listen to the live broadcast, replays will be available for one week following the call.

About Douglas Dynamics

Home to the most trusted brands in the industry, Douglas Dynamics is North America’s premier manufacturer and up-fitter of commercial work truck attachments and equipment. For more than 80 years, the Company has been innovating products that not only enable people to perform their jobs more efficiently and effectively, but also enable businesses to increase profitability. Through its proprietary Douglas Dynamics Management System (DDMS), the Company is committed to continuous improvement aimed at consistently producing the highest quality products, at industry-leading levels of service and delivery that ultimately drive shareholder value. The Douglas Dynamics portfolio of products and services is separated into two segments: First, the Work Truck Attachments segment, which includes commercial snow and ice control equipment sold under the FISHER®, SNOWEX® and WESTERN® brands, and truck mounted cranes and dump hoists sold under the VENCO VENTURO brands. Second, the Work Truck Solutions segment, which includes the up-fit of market leading attachments and storage solutions under the HENDERSON® brand, and the DEJANA® brand and its related sub-brands.

Use of Non-GAAP Financial Measures

This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The non-GAAP measures used in this press release are Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings Per Share (EPS), and Free Cash Flow. The Company believes that these non-GAAP measures are useful to investors and other external users of its consolidated financial statements in evaluating the Company’s operating performance as compared to that of other companies. Reconciliations of these non-GAAP measures to the nearest comparable GAAP measures can be found immediately following the Consolidated Statements of Cash Flows included in this press release.

Adjusted EBITDA represents net income before interest, taxes, depreciation, and amortization, as further adjusted for certain charges consisting of unrelated legal and consulting fees, stock-based compensation, severance, restructuring charges, acquisition costs, inventory step up related to Venco Venturo, CEO transition costs, debt modification expense, and loss on extinguishment of debt. The Company uses Adjusted EBITDA in evaluating the Company’s operating performance because it provides the Company and its investors with additional tools to compare its operating performance on a consistent basis by removing the impact of certain items that management believes do not directly reflect the Company’s core operations. The Company’s management also uses Adjusted EBITDA for planning purposes, including the preparation of its annual operating budget and financial projections, and to evaluate the Company’s ability to make certain payments, including dividends, in compliance with its senior credit facilities, which is determined based on a calculation of “Consolidated Adjusted EBITDA” that is substantially similar to Adjusted EBITDA.

Adjusted Net Income and Adjusted Earnings Per Share (calculated on a diluted basis) represents net income and earnings per share (as defined by GAAP), excluding the impact of stock based compensation, product liability settlement costs, severance, restructuring charges, acquisition costs, inventory step up related to Venco Venturo, CEO transition costs, debt modification expense, loss on extinguishment of debt, and certain charges related to unrelated legal fees and consulting fees. Management believes that Adjusted Net Income and Adjusted Earnings Per Share are useful in assessing the Company’s financial performance by eliminating expenses and income that are not reflective of the underlying business performance.

Free Cash Flow is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities less the acquisition of property and equipment. Free Cash Flow should be evaluated in addition to, and not considered a substitute for, other financial measures such as Net Income and Net Cash Provided By (Used in) Operating Activities. We believe that free cash flow represents our ability to generate additional cash flow from our business operations.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation, product demand, the payment of dividends, and availability of financial resources. These statements are often identified by use of words such as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will” and similar expressions and include references to assumptions and relate to our future prospects, developments, and business strategies.  Such statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, weather conditions, particularly lack of or reduced levels of snowfall and the timing of such snowfall, our ability to manage general economic, business and geopolitical conditions, including the impacts of natural disasters, labor strikes, global political instability, adverse developments affecting the banking and financial services industries, pandemics and outbreaks of contagious diseases and other adverse public health developments, increases in the price of steel or other materials, including as a result of tariffs, necessary for the production of our products that cannot be passed on to our distributors, our inability to maintain good relationships with our distributors, our inability to maintain good relationships with the original equipment manufacturers with whom we currently do significant business, lack of available or favorable financing options for our end-users, distributors or customers, increases in the price of fuel or freight, including as a result of the ongoing conflict in Iran, a significant decline in economic conditions, the inability of our suppliers and original equipment manufacturer partners to meet our volume or quality requirements, inaccuracies in our estimates of future demand for our products, our inability to protect or continue to build our intellectual property portfolio, the effects of laws and regulations and their interpretations on our business and financial condition, including policy or regulatory changes related to climate change, our inability to develop new products or improve upon existing products in response to end-user needs, losses due to lawsuits arising out of personal injuries associated with our products, factors that could impact the future declaration and payment of dividends, or our ability to execute repurchases under our stock repurchase program, our inability to effectively manage the use of artificial intelligence, disruptions at our manufacturing facilities, our inability to compete effectively against competition, our inability to successfully implement our new enterprise resource planning system, the timing, scope and impact of acquisitions, dispositions or other strategic transactions, our inability to achieve the projected financial performance with the assets of Venco Venturo, which we acquired in 2025, and unexpected costs or liabilities related to such acquisition, as well as those discussed in the section entitled “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2025 and any subsequent Form 10-Q filings. You should not place undue reliance on these forward-looking statements. In addition, the forward-looking statements in this release speak only as of the date hereof and we undertake no obligation, except as required by law, to update or release any revisions to any forward-looking statement, even if new information becomes available in the future.

For further information contact:
Douglas Dynamics, Inc.
Nathan Elwell
Vice President of Investor Relations
847-530-0249
investorrelations@douglasdynamics.com 

Financial Statements 

Douglas Dynamics, Inc.
Consolidated Balance Sheets
(In thousands)
	September 30,		December 31,
	2026		2025
	(unaudited)		(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	5,482	$	8,297
Accounts receivable, net		217,841		97,561
Inventories		167,926		149,656
Inventories – truck chassis floor plan		5,001		4,184
Refundable income taxes paid		–		920
Prepaid and other current assets		9,367		5,415
Total current assets		405,617		266,033
Property, plant, and equipment, net		48,351		44,764
Goodwill		116,779		116,779
Other intangible assets, net		111,717		116,269
Operating lease – right of use asset		94,154		68,972
Non-qualified benefit plan assets		12,791		12,038
Other long-term assets		4,605		1,846
Total assets	$	794,014	$	626,701
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	42,519	$	38,687
Accrued expenses and other current liabilities		43,219		33,406
Floor plan obligations		5,001		4,184
Operating lease liability – current		10,321		7,154
Income taxes payable		1,772		–
Short term borrowings		96,000		5,000
Current portion of long-term debt		7,416		7,416
Total current liabilities		206,248		95,847
Retiree benefits and deferred compensation		15,787		14,947
Deferred income taxes		35,041		33,104
Long-term debt, less current portion		129,854		135,162
Operating lease liability – noncurrent		83,764		60,134
Other long-term liabilities		6,515		6,061
Total stockholders’ equity		316,805		281,446
Total liabilities and stockholders’ equity	$	794,014	$	626,701

Douglas Dynamics, Inc.
Consolidated Statements of Income
(In thousands, except share and per share data)
	Three Month Period Ended							Nine Month Period Ended
	September 30, 2026			September 30, 2025				September 30, 2026			September 30, 2025
	(unaudited)							(unaudited)
Net sales	$	218,014		$	162,121			$	570,459		$	471,515
Cost of sales		158,185			124,014				406,063			344,973
Gross profit		59,829			38,107				164,396			126,542
Selling, general, and administrative expense		27,035			22,473				83,207			67,611
Intangibles amortization		1,517			1,550				4,552			4,650
Income from operations		31,277			14,084				76,637			54,281
Interest expense, net		(2,934	)		(3,762	)			(7,320	)		(9,119	)
Debt modification expense		–			–				–			(176	)
Loss on extinguishment of debt		–			–				–			(156	)
Other income, net		14			90				652			217
Income before taxes		28,357			10,412				69,969			45,047
Income tax expense		7,199			2,452				17,056			10,985
Net income	$	21,158		$	7,960			$	52,913		$	34,062
Weighted average number of common shares outstanding:
Basic		23,077,046			23,040,878				23,097,141			23,097,566
Diluted		23,532,796			23,570,707				23,569,913			23,635,539
Earnings per share:
Basic earnings per common share attributable to common shareholders	$	0.90		$	0.34			$	2.25		$	1.44
Earnings per common share assuming dilution attributable to common shareholders	$	0.89		$	0.33			$	2.23		$	1.42
Cash dividends declared and paid per share	$	0.30		$	0.30			$	0.89		$	0.89

Douglas Dynamics, Inc.
Consolidated Statements of Cash Flows
(In thousands)
	Nine Month Period Ended
	September 30, 2026			September 30, 2025
	(unaudited)
Operating activities
Net income	$	52,913		$	34,062
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization		11,466			11,474
Loss on disposal of fixed asset		660			—
Amortization of deferred financing costs and debt discount		317			382
Debt modification expense		—			176
Loss on extinguishment of debt		—			156
Stock-based compensation		8,807			5,223
Provision for losses on accounts receivable		472			122
Deferred income taxes		1,937			5,657
Non-cash lease expense		8,110			6,228
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(120,752	)		(86,177	)
Inventories		(18,270	)		(1,709	)
Prepaid assets, refundable income taxes paid and other assets		(3,793	)		(1,007	)
Accounts payable		3,871			7,788
Accrued expenses and other current liabilities		12,511			6,541
Benefit obligations, long-term liabilities and other		(5,778	)		(10,153	)
Net cash used in operating activities		(47,529	)		(21,237	)
Investing activities
Capital expenditures		(11,201	)		(8,055	)
Acquisition of business		(927	)		—
Net cash used in investing activities		(12,128	)		(8,055	)
Financing activities
Repurchase of common stock		(6,000	)		(6,000	)
Shares withheld on restricted stock vesting paid for employees’ taxes		(1,263	)		(161	)
Payments of financing costs		—			(293	)
Borrowings on long-term debt		—			148,770
Payments on life insurance policy loans		(122	)		(119	)
Dividends paid		(21,148	)		(20,941	)
Net revolver borrowings		91,000			65,000
Repayment of long-term debt		(5,625	)		(151,438	)
Net cash provided by financing activities		56,842			34,818
Change in cash and cash equivalents		(2,815	)		5,526
Cash and cash equivalents at beginning of period		8,297			5,119
Cash and cash equivalents at end of period	$	5,482		$	10,645
Non-cash operating and financing activities
Truck chassis inventory acquired through floorplan obligations	$	1,488		$	19,249

Douglas Dynamics, Inc.
Segment Disclosures (unaudited)
(In thousands)
	Three Months Ended September 30, 2026				Three Months Ended September 30, 2025				Nine Months Ended September 30, 2026				Nine Months Ended September 30, 2025
Work Truck Attachments
Net Sales	$	121,489			$	68,097			$	311,730			$	212,668
Adjusted EBITDA	$	30,145			$	10,461			$	73,609			$	42,358
Adjusted EBITDA Margin		24.8%				15.4%				23.6%				19.9%
Work Truck Solutions
Net Sales	$	96,525			$	94,024			$	258,729			$	258,847
Adjusted EBITDA	$	7,793			$	9,624			$	25,718			$	29,775
Adjusted EBITDA Margin		8.1%				10.2%				9.9%				11.5%

Douglas Dynamics, Inc.
Free Cash Flow reconciliation (unaudited)
(In thousands)
		Three month period ended September 30,								Nine month period ended September 30,
		2026				2025				2026				2025
Net cash used in operating activities		$	(22,334	)		$	(8,516	)		$	(47,529	)		$	(21,237	)
Acquisition of property and equipment			(3,900	)			(2,929	)			(11,201	)			(8,055	)
Free cash flow		$	(26,234	)		$	(11,445	)		$	(58,730	)		$	(29,292	)

Douglas Dynamics, Inc.
Net Income to Adjusted EBITDA reconciliation (unaudited)
(In thousands)
		Three month period ended September 30,						Nine month period ended September 30,
		2026			2025			2026			2025
Net income		$	21,158		$	7,960		$	52,913		$	34,062
Interest expense – net			2,934			3,762			7,320			9,119
Income tax expense			7,199			2,452			17,056			10,985
Depreciation expense			2,271			2,275			6,914			6,824
Intangibles amortization			1,517			1,550			4,552			4,650
EBITDA			35,079			17,999			88,755			65,640
Stock-based compensation			1,820			1,519			8,807			5,223
Debt modification expense			–			–			–			176
Loss on extinguishment of debt			–			–			–			156
Other charges (1)			1,039			567			1,765			938
Adjusted EBITDA		$	37,938		$	20,085		$	99,327		$	72,133
(1) Reflects unrelated legal, severance, restructuring and consulting fees for the periods presented. Reflects $58 in inventory step up related to Venco Venturo included in cost of sales in the nine months ended September 30, 2026.

Douglas Dynamics, Inc.
Reconciliation of Net Income to Adjusted Net Income (unaudited)
(In thousands, except share and per share data)
		Three month period ended September 30,									Nine month period ended September 30,
		2026				2025					2026				2025
Net income		$	21,158			$	7,960				$	52,913			$	34,062
Adjustments:
Stock based compensation			1,820				1,519					8,807				5,223
Debt modification expense			–				–					–				176
Loss on extinguishment of debt			–				–					–				156
Other charges (1)			1,039				567					1,765				938
Tax effect on adjustments			(715	)			(522	)				(2,642	)			(1,623	)
Adjusted net income		$	23,302			$	9,524				$	60,843			$	38,932
Weighted average basic common shares outstanding			23,077,046				23,040,878					23,097,141				23,097,566
Weighted average common shares outstanding assuming dilution			23,532,796				23,570,707					23,569,913				23,635,539
Adjusted earnings per common share – dilutive		$	0.98			$	0.40				$	2.56			$	1.63
GAAP diluted earnings per share		$	0.89			$	0.33				$	2.23			$	1.42
Adjustments net of income taxes:
Stock based compensation			0.06				0.05					0.28				0.16
Debt modification expense			–				–					–				0.01
Loss on extinguishment of debt			–				–					–				0.01
Other charges (1)			0.03				0.02					0.05				0.03
Adjusted diluted earnings per share		$	0.98			$	0.40				$	2.56			$	1.63
(1) Reflects unrelated legal, severance, restructuring and consulting fees for the periods presented. Reflects $58 in inventory step up related to Venco Venturo included in cost of sales in the nine months ended September 30, 2026.

CALGARY, Alberta, Nov. 02, 2026 (GLOBE NEWSWIRE) — Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces that its Board of Directors has approved the grant of 250,000 stock options to Mr. Ryan Kubik, CPA, CFA, ICD.D, who was appointed as a director of the Company effective October 1, 2026, pursuant to the Company’s stock option plan (the “Stock Option Plan”) approved by shareholders at the Company’s annual general meeting held on February 19, 2026.

The stock options — which have been granted at the same exercise price as the stock options granted to employees, officers and directors announced in the Company’s news release dated August 26, 2026 — are each exercisable for one common share of the Company at an exercise price of C$0.79 per share for a five-year term (expiring November 2, 2031) and vest in accordance with the Stock Option Plan.

Stock options granted under the Stock Option Plan are intended to align the interests of the Company’s directors with those of shareholders by linking a portion of director compensation to the Company’s long-term share-price performance. Details of the Stock Option Plan can be found in the Company’s management information circular dated January 8, 2026, available under the Company’s profile on Sedar+ (www.sedarplus.ca).

As Mr. Kubik is a director of the Company, the grant of stock options to him is considered a “Related Party Transaction” as defined in Multilateral Instrument 61-101 — Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from: (i) the formal valuation provisions of MI 61-101 as set out in section 5.5(b) of MI 61-101 (Issuer Not Listed on Specified Markets) on the basis that the Company is a TSX Venture Exchange listed issuer; and (ii) the minority approval provisions of MI 61-101 as set out in section 5.7(1)(a) of MI 61-101 (Fair Market Value Not More than 25% of Market Capitalization) on the basis that neither the fair market ‎value of the subject matter of, nor the fair market value of the ‎consideration for, the stock options granted to Mr. Kubik exceeded 25% of the market capitalization of the Company. The disinterested directors of the Company approved the grant of stock options to Mr. Kubik and no materially contrary view, or abstention was expressed or made by any director of the Company in relation thereto.

About ReconAfrica

ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences and access to approximately 13 million contiguous acres. The Company also operates the Ngulu block in the shallow waters offshore central Gabon covering 1,214 Km² (equivalent to 54 Gulf of Mexico blocks) which is strategically located near producing oil fields and infrastructure.  The Ngulu block includes the Loba oil field discovery and a large inventory of high-impact prospects in the pre-salt and post-salt plays. In all aspects of its operations, ReconAfrica is committed to minimizing disturbance of habitat, in line with international standards, and to implementing environmental and social best practices in its project areas.

For further information contact:
Brian Reinsborough, President & Chief Executive Officer
Mark Friesen, Vice President, Investor Relations & Capital Markets

IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Tel: +1-877-631-1160

Cautionary Note Regarding Forward-Looking Statements:

Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the Option Grant. Forward-looking information is based on currently available information as of the date of this news release and on estimates and assumptions made by the Company, but involves known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those expressed or implied by the forward-looking information, including without limitation, business, economic and capital market conditions. Any forward-looking information contained in this news release is expressly qualified by this cautionary statement. The Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking information. Please see the Company’s annual information form dated April 14, 2026, for the financial year ended December 31, 2025, available under the Company’s profile on SEDAR+ (www.sedarplus.ca), for a complete list of risk factors.

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.

$295 million acquisition of two East End centers recycles capital at an over 100 basis point spread, with embedded growth from below-market rents and remerchandising

JERICHO, N.Y., Nov. 02, 2026 (GLOBE NEWSWIRE) — Kimco Realty^® (NYSE: KIM) today announced the $295 million acquisition of Paddock Shops and Shelbyville Road Plaza, two grocery-anchored, open-air shopping centers in Louisville’s East End, home to the metro’s most affluent and desirable trade area. Anchored by Trader Joe’s and The Fresh Market, the centers total over 741,000 square feet and each draw over 4 million annual visits, according to Placer.ai. Combined with Festival at Jefferson Court, the company’s existing Kroger-anchored center, the acquisitions establish Kimco’s dominant grocery-anchored presence in Louisville.

“Paddock Shops and Shelbyville Road Plaza are exactly the kind of centers we want to own: grocery-anchored, in the strongest trade areas of a supply-constrained market,” said Conor Flynn, Chief Executive Officer of Kimco Realty. “We sold lower-growth assets and reinvested the proceeds into higher-growth opportunities that strengthen our presence in a market we find very attractive. These centers also offer meaningful embedded upside through the recapture of below-market leases and the opportunity to further enhance the tenant mix with dynamic brands and specialty retailers.”

Acquisition Highlights

• Higher-yield capital recycling: Acquired at a low 6% blended going-in cap rate, over 100 basis points above the approximately 5% average cap rate on Kimco’s 2026 dispositions.
• Embedded growth: Below-market rents on a number of leases and a clear remerchandising runway, with net operating income underwritten to grow approximately 4% per year over the next ten years.
• Supply-constrained market: Louisville shopping center vacancy is 3.9%, versus 6% nationally, the market ranks among the top 10 major U.S. markets for occupancy, and no new shopping center space is under construction, according to Cushman & Wakefield.
• Self-funded, leverage-neutral: Primarily funded with 1031 exchange proceeds from 2026 dispositions.

Paddock Shops is a 351,000-square-foot lifestyle center in northeast Louisville, the market’s premier retail corridor, and is 94% leased. Its shopper base has a median household income of approximately $122,000, nearly double the statewide figure, with roughly 60% holding a bachelor’s degree or higher, according to Placer.ai. The center will become part of Kimco’s Lifestyle Collection, the company’s group of signature open-air and mixed-use centers. Shelbyville Road Plaza is a 390,000-square-foot center in St. Matthews, the established retail hub of the Louisville metro, and is 92% leased. Across the two centers, national tenants include REI, Total Wine & More, Pottery Barn, West Elm, ULTA Beauty, Nordstrom Rack, Burlington, Ross Dress for Less and Old Navy.

“Louisville is a market we’ve targeted, and these centers give us meaningful scale in one of the strongest retail corridors,” said Ross Cooper, President and Chief Investment Officer of Kimco Realty. “We see significant opportunity to leverage our One Kimco platform to expand occupancy, drive rent growth and unlock additional value at both properties. Owning Paddock Shops, Shelbyville Road Plaza and Festival at Jefferson Court makes us the first call for retailers entering or expanding in Louisville.”

With the acquisitions, Kimco now owns three grocery-anchored centers in Louisville totaling 911,000 square feet. To view the acquisition slide deck, click here.

CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343
dbujnicki@kimcorealty.com

RESTON, Va., Nov. 02, 2026 (GLOBE NEWSWIRE) — Science Applications International Corp. (NASDAQ: SAIC), a leading mission integrator supporting defense, space, intelligence, and civilian agencies, announced today that it has priced an offering of $500 million aggregate principal amount of 6.75% senior notes due 2034 (the “Notes,” and such offering, the “Offering”). The Notes were priced at 100% of their principal amount and will be senior unsecured obligations of SAIC. The Offering is expected to close on or about November 13, 2026, subject to customary closing conditions. The Notes will be guaranteed on a senior unsecured basis by each of SAIC’s existing and future domestic subsidiaries that guarantee SAIC’s obligations under its credit agreement and certain other indebtedness, including its 5.875% Senior Notes due 2033.

SAIC intends to use the net proceeds from the Offering to redeem all of its outstanding 4.875% Senior Notes due 2028 (the “2028 Notes”) and to pay estimated fees and expenses of the Offering, with any remaining net proceeds being used for general corporate purposes. The redemption of the 2028 Notes will be conditioned upon the consummation of the Offering. This press release does not constitute a notice of redemption with respect to the 2028 Notes.

The Notes and the related guarantees are being offered and sold to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes and the related guarantees have not been registered for sale under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. The Notes being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the applicable private offering memorandum.

About SAIC
SAIC® is a premier mission integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, intelligence, and civilian markets includes secure high-end solutions in mission IT, enterprise IT, engineering services, and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.

We are approximately 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.3 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, statements relating to the Offering, our ability to complete the Offering, the anticipated use of net proceeds therefrom, and the redemption of the 2028 Notes. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (the “SEC”), which may be viewed or obtained through the Investor Relations section of our website or on the SEC’s website. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

Contacts

Media Contact
Caralyn Duke
Senior Manager, Media Relations
publicrelations@saic.com

Investor Relations Contact
Jon Raviv
VP, Investor Relations
investorrelations@saic.com