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Fourth Quarter 2026 Diluted earnings per share (“EPS”) of $1.25 and Adjusted EPS of $1.61
Fiscal Year 2026 Diluted EPS of $4.02 and Adjusted EPS of $6.42

BOSTON, Nov. 02, 2026 (GLOBE NEWSWIRE) — Cabot Corporation (NYSE: CBT) today announced results for its fourth quarter and fiscal year 2026.

Fiscal Year Highlights

• Fiscal year Diluted EPS of $4.02 and Adjusted EPS of $6.42
• Performance Chemicals segment EBIT of $235 million and Reinforcement Materials segment EBIT of $379 million
• Fiscal year 2026 Cash Flows from Operations of $421 million enabled capital investments of $207 million and the payment of $97 million in dividends and $146 million in share repurchases during the fiscal year
• Battery Materials achieved $43 million of EBITDA for the fiscal year, reflecting strong performance and continued growth in the product line

Fourth Quarter Highlights

• Fourth Quarter Diluted EPS of $1.25 and Adjusted EPS of $1.61
• Performance Chemicals segment EBIT of $60 million and Reinforcement Materials segment EBIT of $87 million
• Signed agreement with the U.S. Department of Energy for a $50 million grant to support expansion of domestic production of advanced conductive additives for batteries at Cabot’s facilities in Louisiana and Texas

(In millions, except per share amounts)	Three Months Ended						Fiscal Year Ended
	9/30/26			9/30/25			9/30/26			9/30/25
Net sales and other operating revenues	$	1,009		$	899		$	3,744		$	3,713
Net income (loss) attributable to Cabot Corporation	$	66		$	43		$	213		$	331
Net earnings (loss) per share attributable to Cabot Corporation	$	1.25		$	0.79		$	4.02		$	6.02
Less: Certain items after tax per share	$	(0.36)		$	(0.91)		$	(2.40)		$	(1.23)
Adjusted EPS	$	1.61		$	1.70		$	6.42		$	7.25

Erica McLaughlin, Cabot President and Chief Executive Officer commented: “I am pleased by the strong execution of our teams during a fiscal year that was shaped by a difficult macroeconomic backdrop in many of our key end markets. We finished the year with a strong fourth quarter, delivering Adjusted EPS of $1.61, driven by robust performance in our Performance Chemicals segment. The segment delivered EBIT of $60 million in the quarter and $235 million for the fiscal year. Reinforcement Materials delivered segment EBIT of $87 million in the quarter and $379 million for the full year.”

McLaughlin continued, “We also achieved an important milestone in our Battery Materials product line, delivering $43 million of EBITDA for fiscal 2026, a new high for the product line. Building on this momentum, we signed an agreement with the U.S. Department of Energy for a $50 million grant to support our expansion of domestic production of advanced conductive additives for batteries at our facilities in Louisiana and Texas. We expect these investments to strengthen our Battery Materials platform in North America and expand our capabilities to support growing demand for battery energy storage systems, electric vehicles, and other specialty battery applications. As I look ahead, I am excited about Cabot’s prospects and our ability to build on our strong foundation in Battery Materials to drive long-term growth and shareholder value.”

Fourth Quarter Financial Detail
For the fourth quarter of fiscal 2026, net income attributable to Cabot Corporation was $66 million ($1.25 per common share). Net income reflects an after-tax per share charge from certain items of $0.36, primarily related to charges for restructuring actions. Adjusted EPS for the fourth quarter of fiscal 2026 was $1.61 per share.

Segment Results

Reinforcement Materials – Fourth quarter fiscal 2026 EBIT in Reinforcement Materials decreased by $32 million compared to the fourth quarter of fiscal 2025. The decline in EBIT was primarily driven by lower gross profit per ton, which was partially offset by higher volumes. Gross profit per ton declined primarily due to the outcomes of our calendar year 2026 customer agreements and less favorable regional product mix. Volumes increased by 5% in the fourth quarter of fiscal 2026 as compared to the fourth quarter of fiscal 2025 driven by higher volumes in Asia Pacific and the Americas, including higher volumes from our capacity addition in Indonesia and our acquisition in Mexico.

Global and regional volume changes for Reinforcement Materials for the fourth quarter of fiscal 2026 as compared to the same quarter of the prior year are set forth in the table below:

	Fourth Quarter Year-over-Year Change
Global Reinforcement Materials Volumes	5%
Asia Pacific	10%
Europe, Middle East, Africa	(7%)
Americas	3%

Performance Chemicals – Fourth quarter fiscal 2026 EBIT in Performance Chemicals increased by $18 million compared to the fourth quarter of fiscal 2025 primarily due to higher gross profit per ton and increased volumes. The higher gross profit per ton was driven by favorable product mix and lower costs. Volumes increased in our battery materials and specialty carbons product lines in the fourth quarter of fiscal 2026 as compared to the fourth quarter of fiscal 2025.

Cash Performance – The Company ended the fourth quarter of fiscal 2026 with cash and cash equivalents of $254 million. During the fourth quarter of fiscal 2026, cash flows from operating activities were a source of $143 million. Uses of cash during the quarter included funding $10 million of higher net working capital due to higher raw material costs, $55 million in capital expenditures, $25 million for the payment of dividends and $45 million in share repurchases. We ended the fourth quarter with $1.5 billion in available liquidity and a net debt to EBITDA ratio of 1.4 times as of September 30, 2026. 

Taxes – During the fourth quarter of fiscal 2026, the Company recorded tax expense of $38 million, resulting in an effective tax rate of 34%. The provision for income taxes included non-GAAP adjustments of $3 million which is primarily related to an increase in the valuation allowance on deferred tax assets. Our operating tax rate for the full year fiscal 2026 was 29%.

Outlook
Erica McLaughlin said, “I am honored and excited to take on the role of CEO for Cabot. Having been part of Cabot for many years, I have a deep appreciation for the strength of our businesses, the quality of our people and the differentiated positions we have built across our portfolio. I am energized by the opportunity to lead the company and build on this strong foundation as we enter our next phase of growth.”

Commenting on the outlook, McLaughlin continued, “Looking ahead to fiscal 2027, we expect Adjusted EPS to be in the range of $6.15 to $6.75. We anticipate continuing to increase volumes within our key growth markets, such as battery materials and electronics, as well as with strategic customer accounts. We expect to maintain solid margins as we manage volatile energy input costs and competitive pressures. We remain focused on completing our previously announced restructuring actions, implementing optimization activities and investing in yield technology to improve the competitiveness of our network.”

“While we continue to operate in a dynamic macroeconomic environment, I am confident in the strength of our businesses and our ability to execute. We anticipate continuing to generate strong operating cash flow and maintaining our balanced capital allocation framework that supports growth investments while continuing to return cash to shareholders. In addition, we remain focused on advancing our strategic growth priorities and maintaining commercial and operational discipline to deliver long-term value for our shareholders,” McLaughlin concluded.

Earnings Call
The Company will host a conference call with industry analysts at 8:00 a.m. Eastern time on Tuesday, November 3, 2026. The call can be accessed through Cabot’s investor relations website at http://investor.cabot-corp.com

About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com. The Company regularly posts important information on its website and encourages investors and potential investors to consult the Cabot website regularly.

Forward-Looking Statements – This earnings release contains forward-looking statements. All statements that address expectations or projections about the future, including with respect to our expectations for our performance in fiscal year 2027, including our expectations for Adjusted EPS for fiscal 2027 , our expectations for the benefits from investments we expect to make to increase our battery materials production capacity in the U.S., our expectations for our profit margins, cash flows and capital allocation, and our expectations for future performance, growth and value creation for shareholders and our assumptions underlying those expectations are forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, potentially inaccurate assumptions, and other factors, some of which are beyond our control and difficult to predict. If known or unknown risks materialize, or should underlying assumptions prove inaccurate, our actual results could differ materially from past results and from those expressed or implied by forward-looking statements. Important factors that could cause our results to differ materially from those expressed or implied in the forward-looking statements include, but are not limited to, the inherent uncertainty of management transitions and the ability of the Company to successfully execute its planned leadership transition; industry capacity utilization, shifts in the geographic area of tire production and competition from other specialty chemical companies; safety, health and environmental requirements and related constraints imposed on our business; regulatory and financial risks related to climate change developments; volatility in the price and availability of energy and raw materials, including with respect to the Russian invasion of Ukraine and conflict in the Middle East; a significant adverse change in a customer relationship or the failure of a customer to perform its obligations under agreements with us; failure to achieve growth expectations from capacity additions, new products, applications and technology developments; failure to realize benefits from acquisitions, alliances, or joint ventures or achieve our portfolio management objectives; unanticipated delays in, or increased cost of, site development projects; negative or uncertain worldwide or regional economic conditions and market opportunities, including from trade relations, global health matters or geo-political conflicts; litigation or legal proceedings; interest rates, tax rates, currency exchange controls, tariffs and fluctuations in foreign currency rates; and the accuracy of the assumptions we used in establishing reserves for our share of liability for respirator claims. These factors are discussed more fully in the reports we file with the Securities and Exchange Commission (“SEC”), particularly under the heading “Risk Factors” in our annual report on Form 10-K for our fiscal year ended September 30, 2025, which are filed with the SEC at www.sec.gov. We assume no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Use of Non-GAAP Financial Measures
To supplement Cabot’s consolidated financial statements presented on a generally accepted accounting principles (“GAAP”) basis, the preceding discussion of our results and the accompanying financial tables report Adjusted EPS, Adjusted EBITDA, our operating tax rate, Free Cash Flow and Discretionary Free Cash Flow, all of which are non-GAAP financial measures. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP, and the definitions of these measures may not be comparable to those used by other companies. Reconciliations of Adjusted EPS to net income (loss) per share attributable to Cabot Corporation, the most directly comparable GAAP financial measure, Adjusted EBITDA to Income (loss) from operations before income taxes and equity in earnings of affiliated companies, the most directly comparable GAAP financial measure of each such non-GAAP measure, operating tax rate to effective tax rate, the most directly comparable GAAP financial measure and Free Cash Flow and Discretionary Free Cash Flow to Cash flow provided by (used in) operating activities, the most directly comparable GAAP financial measure, are provided in the tables titled “Cabot Corporation Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate” and “Cabot Corporation Reconciliation of Non-GAAP Financial Measures.”

Management believes these non-GAAP measures provide investors with greater transparency to the information used by Cabot management in its financial and operational decision-making, allow investors to see Cabot’s results through the eyes of management, and better enable Cabot’s investors to understand Cabot’s operating performance and financial condition.

Adjusted EPS. In calculating Adjusted EPS, we exclude from our net income (loss) attributable to Cabot Corporation items of expense and income that management does not consider representative of the Company’s business operations. Accordingly, reporting earnings on an adjusted basis supplements the GAAP measure of performance and provides additional information related to the underlying performance of the business. For example, certain of the items we exclude are items that we are required by GAAP to recognize in one period that relate to activities extending over several periods or relate to single events that management considers to be unusual and infrequent, although not necessarily non-recurring. We refer to these items as “certain items.” Management believes excluding these items facilitates operating performance comparisons from period to period by eliminating differences caused by the existence and timing of certain expense and income items that would not otherwise be apparent on a GAAP basis and evaluates the Company’s operating performance without the impact of these costs or benefits. Management also uses Adjusted EPS as a key measure in evaluating management performance for incentive compensation purposes.

The items of income and expense that we exclude from our calculations of Adjusted EPS but that are included in our GAAP net income (loss) per share, as applicable in a particular reporting period, include, but are not limited to, the following:

• Global restructuring activities, which include costs or benefits associated with cost reduction initiatives or plant closures and are primarily related to (i) employee termination costs, (ii) asset impairment charges associated with restructuring actions, (iii) costs to close facilities, including environmental costs and contract termination penalties, and (iv) gains realized on the sale of land or equipment associated with restructured plants or locations.
• Legal and environmental matters and reserves, which consist of costs or benefits for matters typically related to former businesses or that are otherwise incurred outside of the ordinary course of business.
• Acquisition and integration-related charges, which include transaction costs, redundant costs incurred during the period of integration, and costs associated with transitioning certain management and business processes to Cabot’s processes.
• Employee benefit plan settlements, which consist of either charges or benefits associated with the termination of a pension plan
• Indirect tax settlement charges, which include unfavorable charges related to the settlement of indirect taxes

Cabot does not provide an expected GAAP EPS range or reconciliation of the Adjusted EPS range with an expected GAAP EPS range because, without unreasonable effort, we are unable to predict with reasonable certainty the matters we would allocate to “certain items,” including unusual gains and losses, costs associated with future restructurings, acquisition-related expenses and litigation outcomes. These items are uncertain, depend on various factors, and could have a material impact on GAAP EPS in future periods.

Adjusted EBITDA. Adjusted EBITDA reflects Income (loss) from operations before income taxes and equity in earnings of affiliated companies adjusted for certain items, interest expense, depreciation and amortization, equity in earnings of affiliated companies, and unallocated corporate costs, which include unallocated corporate overhead expenses such as certain corporate salaries and headquarters expenses, plus costs related to corporate projects and initiatives.

Free Cash Flow. To calculate “Free Cash Flow” we deduct Additions to property, plant and equipment from cash flow provided by (used in) operating activities.

Discretionary Free Cash Flow. To calculate “Discretionary Free Cash Flow” we deduct sustaining and compliance capital expenditures and changes in Net Working Capital from cash flow provided by (used in) operating activities.

Operating Tax Rate. Our “operating tax rate” is calculated based upon management’s forecast of the annual operating tax rate for the fiscal year applied to adjusted pre-tax earnings. The operating tax rate excludes income tax (expense) benefit on certain items, discrete tax items and, on a quarterly basis the timing of losses in certain jurisdictions. The income tax (expense) benefit on certain items is determined using the applicable rates in the taxing jurisdictions in which the certain items occurred and includes both current and deferred income tax (expense) benefit based on the nature of the certain items. Discrete tax items include, but are not limited to, changes in valuation allowance, uncertain tax positions, and other tax items, such as the tax impact of legislative changes and tax accruals on historic earnings due to changes in indefinite reinvestment assertions. Management believes that this non-GAAP financial measure is useful supplemental information because it helps our investors compare our tax rate year to year on a consistent basis and to understand what our tax rate on current operations would be without the impact of these items.

Cabot does not provide a forward-looking reconciliation of the operating tax rate range with an effective tax rate range because, without unreasonable effort, we are unable to predict with reasonable certainty the matters we would allocate to “certain items,” including unusual gains and losses, costs associated with future restructurings, acquisition-related expenses and litigation outcomes. These items are uncertain, depend on various factors, and could have a material impact on the effective tax rate in future periods.

Explanation of Terms Used

Product Mix. The term “product mix” refers to the mix of types and grades of products sold or the mix of geographic regions where products are sold, and the positive or negative impact this has on the revenue or profitability of the business or segment.

Net Working Capital. The term “net working capital” includes accounts receivable, inventory and accounts payable and accrued expenses.

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS
Periods ended September 30	Three Months								Twelve Months
Dollars in millions, except per share amounts (unaudited)	2026				2025				2026				2025
Net sales and other operating revenues	$	1,009			$	899			$	3,744			$	3,713
Cost of sales		805				679				2,935				2,773
Gross profit		204				220				809				940
Selling and administrative expenses		69				68				278				260
Research and technical expenses		14				15				54				59
Income (loss) from operations		121				137				477				621
Interest and dividend income		7				7				29				27
Interest expense		(21	)			(20	)			(75	)			(76	)
Other income (expense)		3				(9	)			(25	)			(7	)
Income (loss) from operations before income taxes and equity in earnings of affiliated companies		110				115				406				565
(Provision) benefit for income taxes		(38	)			(63	)			(165	)			(196	)
Equity in earnings of affiliated companies, net of tax		1				2				6				7
Net income (loss)		73				54				247				376
Net income (loss) attributable to noncontrolling interests, net of tax		7				11				34				45
Net income (loss) attributable to Cabot Corporation	$	66			$	43			$	213			$	331
Weighted-average common shares outstanding
Basic		51.5				53.1				51.9				53.7
Diluted		51.9				53.4				52.2				54.2
Earnings (loss) per common share:
Basic	$	1.26			$	0.79			$	4.04			$	6.07
Diluted	$	1.25			$	0.79			$	4.02			$	6.02

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION SUMMARY RESULTS BY SEGMENT
Periods ended September 30		Three Months								Twelve Months
Dollars in millions, except per share amounts (unaudited)		2026				2025				2026				2025
Sales
Reinforcement Materials		$	634			$	563			$	2,297			$	2,341
Performance Chemicals			340				308				1,319				1,250
Segment sales			974				871				3,616				3,591
Unallocated and other (A)			35				28				128				122
Net sales and other operating revenues		$	1,009			$	899			$	3,744			$	3,713
Segment Earnings Before Interest and Taxes (B)
Reinforcement Materials		$	87			$	119			$	379			$	508
Performance Chemicals			60				42				235				194
Unallocated and Other
Interest expense			(21	)			(20	)			(75	)			(76	)
Certain items (C)			(15	)			(17	)			(109	)			(30	)
Unallocated corporate costs			(13	)			(13	)			(54	)			(52	)
General unallocated income (expense) (D)			13				6				36				28
Less: Equity in earnings of affiliated companies, net of tax			1				2				6				7
Income (loss) from operations before income taxes and equity in earnings of affiliated companies			110				115				406				565
(Provision) benefit for income taxes (including tax certain items)			(38	)			(63	)			(165	)			(196	)
Equity in earnings of affiliated companies, net of tax			1				2				6				7
Net income (loss)			73				54				247				376
Net income (loss) attributable to noncontrolling interests, net of tax			7				11				34				45
Net income (loss) attributable to Cabot Corporation		$	66			$	43			$	213			$	331
Diluted earnings (loss) per share of common stock attributable to Cabot Corporation		$	1.25			$	0.79			$	4.02			$	6.02
Adjusted earnings (loss) per share (E)		$	1.61			$	1.70			$	6.42			$	7.25
Diluted weighted average common shares outstanding			51.9				53.4				52.2				54.2
(A)	Unallocated and other reflects external shipping and handling fees, the impact of unearned revenue, and discounting charges for certain Notes receivable.
(B)	Segment EBIT is a measure used by Cabot’s Chief Operating Decision-Maker to assess segment performance and allocate resources. Segment EBIT includes Equity in earnings of affiliated companies, net of tax, Net income attributable to noncontrolling interests, net of tax, and discounting charges for certain Notes receivable.
(C)	Details of Certain items are presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.
(D)	General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, Interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue and unrealized holding gains (losses) for investments. This does not include items of income or expense from the items that are separately treated as Certain items.
(E)	Adjusted EPS is a non-GAAP measure, and a reconciliation of Adjusted EPS to GAAP EPS is presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
	September 30,				September 30,
Dollars in millions (unaudited)	2026				2025
Current assets:
Cash and cash equivalents	$	254			$	258
Accounts and notes receivable, net of reserve for doubtful accounts of $5 and $5		801				671
Inventories:
Raw materials		161				134
Finished goods		354				303
Other		69				67
Total inventories		584				504
Prepaid expenses and other current assets		107				106
Total current assets		1,746				1,539
Property, plant and equipment		4,588				4,405
Accumulated Depreciation		(2,874	)			(2,694	)
Net property, plant and equipment		1,714				1,711
Goodwill		138				134
Equity affiliates		20				16
Intangible assets, net		50				55
Deferred income taxes		165				180
Other assets		195				180
Total assets	$	4,028			$	3,815

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
	September 30,				September 30,
Dollars in millions, except share and per share amounts (unaudited)	2026				2025
Current liabilities:
Short-term borrowings	$	65			$	14
Accounts payable and accrued liabilities		716				648
Income taxes payable		21				35
Current portion of long-term debt		7				260
Total current liabilities		809				957
Long-term debt		1,180				856
Deferred income taxes		32				39
Other liabilities		236				258
Stockholders’ equity:
Preferred stock:
Authorized: 2,000,000 shares of $1 par value
Issued and Outstanding: None and none		—				—
Common stock:
Authorized: 200,000,000 shares of $1 par value Issued: 51,445,245 and 52,962,353 shares Outstanding: 51,338,798 and 52,842,481 shares		51				53
Less cost of 106,447 and 119,872 shares of common treasury stock		(2	)			(3	)
Additional paid-in capital		—				—
Retained earnings		1,837				1,835
Accumulated other comprehensive income (loss)		(251	)			(335	)
Total Cabot Corporation stockholders’ equity		1,635				1,550
Noncontrolling interests		136				155
Total stockholders’ equity		1,771				1,705
Total liabilities and stockholders’ equity	$	4,028			$	3,815

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION QUARTERLY RESULTS BY SEGMENT
			Fiscal 2025																Fiscal 2026
Dollars in millions,
except per share amounts (unaudited)			Dec. Q			Mar. Q			June Q			Sept. Q			FY				Dec. Q			Mar. Q			June Q			Sept. Q			FY
Sales
Reinforcement Materials			$	611		$	594		$	573		$	563		$	2,341			$	520		$	544		$	599		$	634		$	2,297
Performance Chemicals				311			311			320			308			1,250				300			328			351			340			1,319
Segment sales				922			905			893			871			3,591				820			872			950			974			3,616
Unallocated and other (A)				33			31			30			28			122				29			32			32			35			128
Net sales and other operating revenues			$	955		$	936		$	923		$	899		$	3,713			$	849		$	904		$	982		$	1,009		$	3,744
Segment Earnings Before Interest and Taxes (B)
Reinforcement Materials			$	130		$	131		$	128		$	119		$	508			$	102		$	93		$	97		$	87		$	379
Performance Chemicals				45			50			57			42			194				48			59			68			60			235
Unallocated and Other
Interest expense				(18	)		(19	)		(19	)		(20	)		(76	)			(18	)		(18	)		(18	)		(21	)		(75	)
Certain items (C)				(6	)		(4	)		(3	)		(17	)		(30	)			(7	)		(9	)		(78	)		(15	)		(109	)
Unallocated corporate costs				(13	)		(13	)		(13	)		(13	)		(52	)			(12	)		(15	)		(14	)		(13	)		(54	)
General unallocated income (expense) (D)				7			9			6			6			28				6			12			5			13			36
Less: Equity in earnings of affiliated companies, net of tax				1			3			1			2			7				1			2			2			1			6
Income (loss) from operations before income taxes and equity in earnings of affiliated companies				144			151			155			115			565				118			120			58			110			406
(Provision) benefit for income taxes (including tax certain items)				(41	)		(49	)		(43	)		(63	)		(196	)			(37	)		(44	)		(46	)		(38	)		(165	)
Equity in earnings of affiliated companies, net of tax				1			3			1			2			7				1			2			2			1			6
Net income (loss)				104			105			113			54			376				82			78			14			73			247
Net income (loss) attributable to noncontrolling interests, net of tax				11			11			12			11			45				9			10			8			7			34
Net income (loss) attributable to Cabot Corporation			$	93		$	94		$	101		$	43		$	331			$	73		$	68		$	6		$	66		$	213
Diluted earnings (loss) per share of common stock attributable to Cabot Corporation			$	1.67		$	1.69		$	1.86		$	0.79		$	6.02			$	1.37		$	1.27		$	0.12		$	1.25		$	4.02
Adjusted earnings (loss) per share (E)			$	1.76		$	1.90		$	1.90		$	1.70		$	7.25			$	1.53		$	1.61		$	1.67		$	1.61		$	6.42
Diluted weighted average common shares outstanding				55.0			54.4			53.8			53.4			54.2				52.9			52.2			52.0			51.9			52.2
(A)		Unallocated and other reflects external shipping and handling fees, the impact of unearned revenue, and discounting charges for certain Notes receivable.
(B)		Segment EBIT is a measure used by Cabot’s Chief Operating Decision-Maker to assess segment performance and allocate resources. Segment EBIT includes Equity in earnings of affiliated companies, net of tax, Net income attributable to noncontrolling interests, net of tax, and discounting charges for certain Notes receivable.
(C)		Details of certain items are presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.
(D)		General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, Interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue and unrealized holding gains (losses) for investments. This does not include items of income or expense from the items that are separately treated as Certain items.
(E)		Adjusted EPS is a non-GAAP measure, and a reconciliation of Adjusted EPS to GAAP EPS is presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Periods ended September 30	Three Months								Twelve Months
Dollars in millions (unaudited)	2026				2025				2026				2025
Cash Flows from Operating Activities:
Net income (loss)	$	73			$	54			$	247			$	376
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	51				40				191				154
Other non-cash charges (gains), net	24				35				98				73
Cash dividends received from equity affiliates	—				—				2				13
Changes in assets and liabilities:
Changes in net working capital (A)	(10		)		69				(68		)		56
Changes in other assets and liabilities, net	5				21				(49		)		(7		)
Cash provided by (used in) operating activities	143				219				421				665
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(55		)		(64		)		(207		)		(274		)
Acquisition of business, net of cash acquired	—				—				(66		)		—
Asset acquisition	—				—				—				(27		)
Other investing activities, net	(6		)		5				(4		)		3
Cash provided by (used in) investing activities	(61		)		(59		)		(277		)		(298		)
Cash Flows from Financing Activities:
Change in debt, net	(21		)		(88		)		111				(23		)
Cash dividends paid to common stockholders	(25		)		(25		)		(97		)		(96		)
Other financing activities, net	(32		)		(33		)		(180		)		(217		)
Cash provided by (used in) financing activities	(78		)		(146		)		(166		)		(336		)
Effect of exchange rate changes on cash	—				5				19				4
Increase (decrease) in cash, cash equivalents and restricted cash	4				19				(3		)		35
Cash, cash equivalents and restricted cash at beginning of period	251				239				258				223
Cash, cash equivalents and restricted cash at end of period (B)	$	255			$	258			$	255			$	258

(A)	Includes Accounts and notes receivable, Inventories, and Accounts payable and accrued liabilities.
(B)	Restricted cash was $1 million as of September 30, 2026. There was no restricted cash as of September 30, 2025.

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION CERTAIN ITEMS AND RECONCILIATION OF ADJUSTED EPS AND OPERATING TAX RATE
TABLE 1: DETAIL OF CERTAIN ITEMS
Periods ended September 30	Three Months						Twelve Months
Dollars in millions, except per share amounts (unaudited)	2026			2025			2026			2025
Certain items before and after income taxes
Global restructuring activities	$	(15	)	$	(5	)	$	(72	)	$	(11	)
Employee benefit plan settlement and other charges		—			(3	)		(30	)		(3	)
Legal and environmental matters and reserves		—			(1	)		(5	)		(7	)
Acquisition and integration-related charges		—			(1	)		(2	)		(1	)
Indirect tax settlement charges		—			(7	)		—			(7	)
Other certain items		—			—			—			(1	)
Total certain items, pre-tax		(15	)		(17	)		(109	)		(30	)
Non-GAAP adjustments(A)		(3	)		(32	)		(17	)		(38	)
Total certain items after tax	$	(18	)	$	(49	)	$	(126	)	$	(68	)
Total certain items after tax per share	$	(0.36	)	$	(0.91	)	$	(2.40	)	$	(1.23	)
TABLE 2: CERTAIN ITEMS STATEMENT OF OPERATIONS LINE ITEM
Periods ended September 30	Three Months						Twelve Months
Dollars in millions, Pre-Tax (unaudited)	2026			2025			2026			2025
Statement of Operations Line Item (C)
Cost of sales	$	(13	)	$	(3	)	$	(72	)	$	(13	)
Selling and administrative expenses		(2	)		(3	)		(7	)		(4	)
Research and technical expenses		—			(1	)		—			(2	)
Other income (expense)		—			(10	)		(30	)		(11	)
Total certain items	$	(15	)	$	(17	)	$	(109	)	$	(30	)
TABLE 3: RECONCILIATION OF EFFECTIVE TAX RATE TO OPERATING TAX RATE
Three months ended September 30	2026						2025
Dollars in millions (unaudited)	(Provision) / Benefit for Income Taxes			Rate			(Provision) / Benefit for Income Taxes			Rate
Effective Tax Rate	$	(38	)		34	%	$	(63	)		55	%
Less: Non-GAAP tax adjustments(B)		(3	)					(30	)
Operating tax rate (D) (E)	$	(35	)		28	%	$	(33	)		25	%
Twelve months ended September 30	2026						2025
Dollars in millions (unaudited)	(Provision) / Benefit for Income Taxes			Rate			(Provision) / Benefit for Income Taxes			Rate
Effective Tax Rate	$	(165	)		41	%	$	(196	)		35	%
Less: Non-GAAP tax adjustments(B)		(17	)					(36	)
Operating tax rate (D) (E)	$	(148	)		29	%	$	(160	)		27	%
TABLE 4: RECONCILIATION OF ADJUSTED EPS BY QUARTER FOR FISCAL 2026 and FISCAL 2025
	Fiscal 2026 (F)
Periods ended (unaudited)	Dec. Q			Mar. Q			June Q			Sept. Q				FY 2026
Reconciliation of Adjusted EPS to GAAP EPS
Net income (loss) per share attributable to Cabot Corporation	$	1.37		$	1.27		$	0.12		$	1.25			$	4.02
Less: Certain items after tax per share		(0.16	)		(0.34	)		(1.55	)		(0.36	)		$	(2.40	)
Adjusted earnings (loss) per share	$	1.53		$	1.61		$	1.67		$	1.61			$	6.42
	Fiscal 2025 (F)
Periods ended (unaudited)	Dec. Q			Mar. Q			June Q			Sept. Q				FY 2025
Reconciliation of Adjusted EPS to GAAP EPS
Net income (loss) per share attributable to Cabot Corporation	$	1.67		$	1.69		$	1.86		$	0.79			$	6.02
Less: Certain items after tax per share		(0.09	)		(0.21	)		(0.04	)		(0.91	)			(1.23	)
Adjusted earnings (loss) per share	$	1.76		$	1.90		$	1.90		$	1.70			$	7.25

(A)	Non-GAAP adjustments includes Non-GAAP tax adjustments, which are described in (B) below, and in fiscal 2025 an adjustment to the historical earnings allocated to a noncontrolling interest partner, which is included in Net income (loss) attributable to noncontrolling interests, net of tax in the Consolidated Statement of Operations.
(B)	Non-GAAP tax adjustments are made to arrive at the operating tax provision. It includes the income tax (expense) benefit on certain items, discrete tax items, and, on a quarterly basis the timing of losses in certain jurisdictions. The income tax (expense) benefit on certain items is determined using the applicable rates in the taxing jurisdictions in which the certain items occurred and includes both current and deferred income tax (expense) benefit based on the nature of the certain items. Discrete tax items include, but are not limited to, changes in valuation allowance, uncertain tax positions, and other tax items, such as the tax impact of legislative changes and tax accruals on historic earnings due to changes in indefinite reinvestment assertions.
(C)	This table indicates the line items where certain items are recorded in the Consolidated Statements of Operations.
(D)	The operating tax rate is calculated based upon management’s forecast of the annual operating tax rate for the fiscal year applied to adjusted pre-tax earnings. The operating tax rate excludes income tax (expense) benefit on certain items, discrete tax items and, on a quarterly basis the timing of losses in certain jurisdictions.
(E)	Our operating tax rate for fiscal 2027 is expected to be in the range of 28% to 30%.
(F)	Per share amounts are calculated after tax.

Fourth Quarter Earnings Announcement, Fiscal 2026
CABOT CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
			Fiscal 2026 (A)
			Dec. Q			Mar. Q			June Q			Sept. Q			FY 2026
Reconciliation of Adjusted EPS to GAAP EPS
Net income (loss) per share attributable to Cabot Corporation			$	1.37		$	1.27		$	0.12		$	1.25		$	4.02
Less: Certain items after tax per share				(0.16	)		(0.34	)		(1.55	)		(0.36	)		(2.40	)
Adjusted earnings (loss) per share			$	1.53		$	1.61		$	1.67		$	1.61		$	6.42
			Fiscal 2025 (A)
			Dec. Q			Mar. Q			June Q			Sept. Q			FY 2025
Reconciliation of Adjusted EPS to GAAP EPS
Net income (loss) per share attributable to Cabot Corporation			$	1.67		$	1.69		$	1.86		$	0.79		$	6.02
Less: Certain items after tax per share				(0.09	)		(0.21	)		(0.04	)		(0.91	)		(1.23	)
Adjusted earnings (loss) per share			$	1.76		$	1.90		$	1.90		$	1.70		$	7.25
	(A)	Per share amounts are calculated after tax.
Dollars in millions			Fiscal 2026
			Dec. Q			Mar. Q			June Q			Sept. Q			FY 2026
Reconciliation of Adjusted EBITDA to Income (loss) from operations before income taxes and equity in earnings of affiliated companies
Income (loss) from operations before income taxes and equity in earnings of affiliated companies			$	118		$	120		$	58		$	110		$	406
Interest expense				18			18			18			21			75
Certain items				7			9			78			15			109
General unallocated (income) expense				(6	)		(12	)		(5	)		(13	)		(36	)
Less: Equity in earnings of affiliated companies				(1	)		(2	)		(2	)		(1	)		(6	)
Depreciation and amortization				41			44			43			47			175
Adjusted EBITDA			$	179		$	181		$	194		$	181		$	735
Dollars in millions			Dec. Q			Mar. Q			June Q			Sept. Q			FY 2026
Reinforcement Materials EBIT			$	102		$	93		$	97		$	87		$	379
Reinforcement Materials Depreciation and amortization				19			21			20			24			84
Reinforcement Materials EBITDA			$	121		$	114		$	117		$	111		$	463
Reinforcement Materials Sales			$	520		$	544		$	599		$	634		$	2,297
Reinforcement Materials EBITDA Margin				23	%		21	%		20	%		18	%		20	%
Dollars in millions			Dec. Q			Mar. Q			June Q			Sept. Q			FY 2026
Performance Chemicals EBIT			$	48		$	59		$	68		$	60		$	235
Performance Chemicals Depreciation and amortization				22			23			23			23			91
Performance Chemicals EBITDA			$	70		$	82		$	91		$	83		$	326
Performance Chemicals Sales			$	300		$	328		$	351		$	340		$	1,319
Performance Chemicals EBITDA Margin				23	%		25	%		26	%		24	%		25	%
Dollars in millions			Fiscal 2026
Reconciliation of Free Cash Flow and Discretionary Free Cash Flow to Cash provided by (used in) operating activities			Dec. Q			Mar. Q			June Q			Sept. Q			FY 2026
Cash provided by (used in) operating activities (B)			$	126		$	77		$	75		$	143		$	421
Less: Additions to property, plant and equipment				69			45			38			55			207
Free cash flow			$	57		$	32		$	37		$	88		$	214
Plus: Additions to property, plant and equipment				69			45			38			55			207
Less: Changes in net working capital (C)				5			(19	)		(44	)		(10	)		(68	)
Less: Sustaining and compliance capital expenditures				50			33			28			36			147
Discretionary free cash flow			$	71		$	63		$	91		$	117		$	342
	(B)	As provided in the Condensed Consolidated Statements of Cash Flows.
	(C)	Defined as changes in Accounts and notes receivable, Inventories, and Accounts payable and accrued liabilities as presented on the Condensed Consolidated Statements of Cash Flows.

CONTACT: Investor Contact: 
Robert Rist
(617) 342-6374

EFFINGHAM, Ill., Nov. 02, 2026 (GLOBE NEWSWIRE) — Midland States Bancorp, Inc. (Nasdaq: MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.33 per share of its common stock. The dividend is payable on November 20, 2026 to all shareholders of record as of the close of business on November 13, 2026.

The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on December 30, 2026 to stockholders of record as of December 15, 2026.

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of September 30, 2026, the Company had total assets of approximately $6.82 billion, and its Wealth Management Group had assets under administration of approximately $4.77 billion. The Company provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit midlandsb.com or follow Midland States Bank on LinkedIn.

CONTACTS:
Claire A. Stack, Chief Financial Officer, at cstack@midlandsb.com or (217) 342-7321

ST. LOUIS, Nov. 02, 2026 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE: SF) today announced that its Board of Directors has declared a cash dividend on shares of its common stock of $0.34 per share, payable December 15, 2026, to shareholders of record at the close of business on December 1, 2026.

The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 6.25% Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”), 6.125% Non-Cumulative Perpetual Preferred Stock, Series C (the “Series C Preferred Stock”), and 4.50% Non-Cumulative Perpetual Preferred Stock, Series D (the “Series D Preferred Stock”). The declared cash dividend on the Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock is for the period from September 15, 2026, up to, but excluding, December 15, 2026. The declared cash dividend equated to approximately $0.390625 per depositary share, or $390.625 per share of the Series B Preferred Stock outstanding. The declared cash dividend equated to approximately $0.3828125 per depositary share, or $382.8125 per share of the Series C Preferred Stock outstanding. The declared cash dividend equated to approximately $0.281250 per depositary share, or $281.250 per share of the Series D Preferred Stock outstanding. The cash dividends are payable on December 15, 2026, to shareholders of record on December 1, 2026.

The Company’s Series B Preferred Stock trades on the New York Stock Exchange under the symbol “SF PrB”, the Company’s Series C Preferred Stock trades on the New York Stock Exchange under the symbol “SF PrC”, and the Company’s Series D Preferred Stock trades on the New York Stock Exchange under the symbol “SF PrD.”

Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

Stifel Investor Relations Contact
Joel Jeffrey, Senior Vice President
(212) 271-3610 direct
investorrelations@stifel.com

WEST DES MOINES, Iowa, Nov. 02, 2026 (GLOBE NEWSWIRE) — Athene announced that it has declared the following preferred stock dividends on its non-cumulative preferred stock (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), payable on December 30, 2026 to holders of record as of December 15, 2026.

• Quarterly dividend of $396.875 per share on the company’s 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”); holders of depositary shares will receive $0.396875 per depositary share.
• Quarterly dividend of $351.5625 per share on the company’s 5.625% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series B (the “Series B Preferred Stock”); holders of depositary shares will receive $0.3515625 per depositary share.
• Quarterly dividend of $304.6875 per share on the company’s 4.875% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series D (the “Series D Preferred Stock”); holders of depositary shares will receive $0.3046875 per depositary share.
• Quarterly dividend of $484.375 per share on the company’s 7.750% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series E (the “Series E Preferred Stock”); holders of depositary shares will receive $0.484375 per depositary share.

Depositary shares for the Series A Preferred Stock are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “ATHPrA,” depositary shares for the Series B Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrB,” depositary shares for the Series D Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrD,” and depositary shares for the Series E Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrE.”

About Athene

Athene is the leading retirement solutions company with $473 billion of total assets as of June 30, 2026, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.

Contact:

Alyssa Castelli
Director, External Relations
+1 646 768 7304
Alyssa.castelli@athene.com

STILLWATER, Okla., Nov. 02, 2026 (GLOBE NEWSWIRE) — USA Rare Earth, Inc. (Nasdaq: USAR) (the Company), today announced that it will release financial results for the quarterly period ended September 30, 2026, after U.S. markets close on Monday, November 9, 2026. Additionally, the Company will host a conference call that afternoon to discuss the results and related matters.

EARNINGS RELEASE
Monday, November 9, 2026 (after market close)

LIVE CONFERENCE CALL
Monday, November 9, 2026, at 4:30 p.m. ET
US/Canada Toll-Free: +1 (833) 890-8030
International: +1 (412) 564-6268

CONFERENCE CALL REPLAY
Expiration: December 9, 2026
US/Canada Toll-Free: +1 (855) 669-9658
International Toll: +1 (412) 317-0088
Access code: 9762323

Investors may also access the live call and the replay over the internet on the “Events” page of the Company’s investor website located at www.usare.com or at https://event.choruscall.com/mediaframe/webcast.html?webcastid=AzZOYMCd.

For more information, please visit USARE.com.

About USA Rare Earth

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare-earth and permanent-magnet value chain across the United States, Brazil and the United Kingdom. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare-earth metals and alloys, its development of magnet manufacturing capacity in Stillwater, Oklahoma, its Pela Ema mine in Brazil and the Round Top deposit in Texas, USA Rare Earth is pursuing capabilities across the value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to the aerospace and defense, semiconductor, energy, data center, physical AI, mobility, healthcare and industrial sectors.

For more information, visit www.usare.com.

Investor Relations Contact
J.B. Lowe, CFA
VP, Head of Investor Relations
ir@USARE.com

Media Relations Contact
Collected Strategies
Dan Moore / Scott Bisang
USAR-CS@collectedstrategies.com

• New Phase 2 REC-4881 data presented at CGA-IGC in an expanded adult population aged 18 years and older show deep, durable polyp burden reductions in FAP, with activity throughout the GI tract and in larger, higher-risk polyps.
• REC-4881 shows deep activity throughout the GI tract in post colectomy patients, including near-clearance: After 12 weeks of treatment, nearly 1 in 2 patients in the upper GI and more than 1 in 3 in the lower GI achieved polyp burden reductions of ≥65%. Two patients achieved ≥98% reductions in upper GI polyp burden. 
• REC-4881 reductions persisted off treatment: Twelve weeks after stopping treatment, 85% of evaluable patients remained below baseline polyp burden.
• REC-4881 reductions in larger, higher-risk polyps: Six of eight patients with polyps >5 mm at baseline had reductions in these polyp counts after 12 weeks of treatment; four had reductions of at least 80%, including two whose larger-polyp counts fell from more than 90 to one.
• REC-4881 no new safety signals observed: Favorable chronic dosing safety profile, with predominantly Grade 1/2 AEs, and no additional discontinuations reported since the prior data cutoff.
• REC-1245 Phase 1 data update: Encouraging monotherapy activity with 2 confirmed partial responses in endometrial cancer, 1 unconfirmed partial response in liver cancer, and a 91.7% disease control rate (11/12) at doses ≥45 mg; 45 mg selected for exploratory expansion cohorts based on emerging efficacy and manageable safety profile.
• Sanofi options the first development candidate from Recursion collaboration, a potential first-in-class, dual targeting inhibitor oral small molecule in immunology, which will now advance into Sanofi’s portfolio, with Phase 1 clinical study expected to begin in 2027.
• Expected cash runway extended into 2029, including proceeds from the October 2026 follow-on offering; 2026 cash operating expense guidance reiterated at less than $375 million, with 2027 guidance of less than $360 million.
• Appointed Fred Hassan as Chair of the Board, effective October 31, 2026. Mr. Hassan brings more than four decades of pharmaceutical leadership and Board experience across company transformation, drug development and commercialization.

SALT LAKE CITY, Nov. 02, 2026 (GLOBE NEWSWIRE) — Recursion (Nasdaq: RXRX), a leading clinical-stage company pioneering AI-enabled drug discovery and development, today reported financial results for the third quarter ended September 30, 2026, together with business updates highlighting continued clinical, pipeline and platform execution.

Recursion will host a webinar with earnings updates on REC-4881 data, REC-1245 data, as well as REC-4881 KOL and patient panels, presented live from CGA-IGC on Tuesday, November 3, 2026 at 8:00 am ET / 6:00 am MT / 1:00 pm GMT from Recursion’s X, LinkedIn, and YouTube accounts giving analysts, investors, and the public the opportunity to ask questions of the Company by submitting questions here: Question Form.

“To pioneer a new blueprint for making medicines with AI, we believe you have to tie together three core capabilities in one engine: uncover novel biology, design differentiated molecules against challenging targets, and generate clinical evidence that matters for patients,” said Najat Khan, Ph.D., President and Chief Executive Officer of Recursion. “The new TUPELO data are important clinical evidence, with REC-4881 showing deep polyp burden reductions across the upper and lower GI tract, including larger, higher-risk polyps, and reductions that persist after treatment stops. REC-1245 is an encouraging early example of that engine coming together within a single program, from biological insight surfaced by our platform to molecule design and now early clinical signals in heavily pretreated patients.”

“Beyond our own pipeline, Sanofi has optioned a potential first-in-class molecule against a challenging dual target, while Genentech has advanced an unexplored neuroscience target from our maps. These are different programs, but they are outputs of the same AI-native engine, providing evidence of repeatability. We will keep concentrating capital where the evidence is strongest and turning innovation into impact for patients who are waiting.”

Internal Pipeline Highlights

Recursion internal pipeline: five oncology and rare-disease programs (REC-4881, REC-1245, REC-4539, REC-7735, REC-102) shown by target, indication, addressable patient population, development stage, next catalyst, and AI-enabled differentiation.

Positive Phase 2 results from ongoing TUPELO trial of REC-4881 in FAP highlight activity across GI tract and on larger polyps

FAP is a genetically defined driver of GI cancer, affecting >50,000 patients in the US and EU5 who face major surgeries and life-long surveillance with no approved therapies, representing a potential $15 billion opportunity, based on Company estimates. Among the approximately 35,000 post-colectomy patients, upper GI disease represents the highest unmet need in FAP, due to risks of bleeding and perforation from polyp removal, high complication and morbidity rates from surgery, and higher cancer risk.

REC-4881, a potential first-in-class oral therapy granted FDA Orphan Drug and Fast Track designations, is designed to address both Wnt/β-catenin initiation and MAPK evolution pathways. The opportunity was identified through unbiased phenotypic screening using Recursion’s proprietary AI foundation models, which revealed MEK1/2 inhibition as a potential way to reverse cellular phenotypes associated with APC loss, a previously unappreciated synthetic rescue relationship.

On November 2, Recursion announced further positive data from its ongoing Phase 1b/2 TUPELO trial of REC-4881, an investigational, oral MEK1/2 inhibitor in development for FAP. These data were presented by Lisa Boardman, M.D., Professor of Medicine at Mayo Clinic, in a presidential plenary session at The Collaborative Group of the Americas on Inherited Gastrointestinal Cancer (CGA-IGC) Annual Meeting in Denver, Colorado.

• Deep, durable reductions in total polyp burden, strengthened in the expanded adult FAP population (18+): After 12 weeks of REC-4881 (4 mg QD), 87% of patients (13 of 15) had a reduction in total polyp burden, with a 47% median reduction; approximately 1 in 3 achieved reductions of ≥65%. Twelve weeks after stopping treatment, 85% of evaluable patients (11 of 13) remained below baseline.
• Activity across the upper and lower GI tract, including near-clearance: After 12 weeks of treatment, median polyp burden reductions were 55% in the upper GI and 50% in the lower GI, supporting REC-4881’s potential as a single oral therapy to address FAP across the GI tract.
• Upper GI, the area of greatest unmet need in FAP (results first reported Oct. 15): 92% of patients (12 of 13) had reductions after 12 weeks of treatment, with two patients achieving ≥98% reductions; half (6 of 12) improved by at least one Spigelman stage; and 92% (11 of 12) remained below baseline 12 weeks after stopping treatment.
• New lower GI results highlight breadth of activity: 9 of 11 patients (82%) with measurable lower GI polyp burden at baseline had reductions after 12 weeks of treatment, with a 50% median reduction and 1 in 3 achieving ≥65%; 70% of evaluable patients remained below baseline 12 weeks after stopping treatment.
• New analysis shows substantial reductions in larger, higher-risk polyps: 6 of 8 patients with polyps >5 mm at baseline had fewer of these polyps after 12 weeks of treatment. Four achieved reductions of ≥80%, including two whose counts fell from more than 90 polyps to one. Six of eight remained below their baseline count 12 weeks after stopping treatment.
• No new safety signals observed: Favorable chronic dosing safety profile. The highest-grade treatment-related adverse event was Grade 1 or 2 in 21 of 26 patients (81%) and Grade 3 in four patients (15%); one patient had no TRAEs. No Grade 4 or 5 TRAEs, and no additional discontinuations since the previous data cutoff.

The Company anticipates initiating a registrational trial in the second half of 2027, pending ongoing FDA discussions, and will provide additional details later this year.

Early data from the Phase 1 dose-escalation portion of DAHLIA, our ongoing open-label Phase 1/2 study of REC-1245, show the following (data cutoff: August 21, 2026):

REC-1245 is a potential first-in-class oral molecular glue designed to exploit a synthetic-lethal vulnerability in cancers by degrading RBM39, a splicing factor that regulates genes involved in DNA repair and stress response. The Recursion platform contributed each of the three core elements of the program: the target, the molecule and the initial hypotheses on which patients are most likely to benefit. The target emerged from Recursion’s platform, which found that degrading RBM39 mimics the loss of CDK12, while sparing CDK13-associated liabilities. REC-1245 was identified within 18 months after screening only 204 compounds using Recursion’s design platform. The same platform-derived biology pointed to tumors intrinsically primed by replication stress and reliance on accurate splicing, including hard-to-treat cancers such as endometrial, hepatocellular and ovarian cancers and transcriptionally driven tumors.

• Three partial responses per RECIST 1.1 criteria (2 confirmed, 1 unconfirmed) in heavily pretreated patients with endometrial cancer and hepatocellular carcinoma, all at doses of 45 mg once daily (QD) or higher, with a disease control rate of 91.7% at those doses (n=12).
• Recursion has selected 45 mg QD for exploratory expansion cohorts, including endometrial cancer, where limited second-line treatments are approved; at the 45 mg QD dose (n=10), no dose-limiting toxicities or treatment-related serious adverse events were observed, and treatment-related adverse events were predominantly Grade 1 or 2. Most frequent TRAEs were Grade 1 or Grade 2 fatigue and anemia (30% each).
• Preliminary dose expansion data in endometrial cancer are expected in the second half of 2027. Dose escalation will also continue in other solid tumor indications.

Other Portfolio Updates: REC-7735 is an orally bioavailable, precision-designed small molecule inhibitor of PI3Kα H1047R generated using the Recursion OS. In the second half of 2026, Recursion initiated the Phase 1/2 ZINNIA clinical study for patients with select PIK3CA H1047R-mutant solid tumors.

As announced in October 2026, given the promising data in REC-4881 and REC-1245, Recursion plans to continue to focus resources on its high-impact partnerships and internal programs including REC-4881 (MEK1/2 – familial adenomatous polyposis), REC-1245 (RBM39 – endometrial cancer and other solid tumors), REC-4539 (LSD1 – solid tumors and hematology), REC-7735 (PI3Kα H1047R – solid tumors) and REC-102 (ENPP1 – hypophosphatasia). Recursion intends to pursue partnership opportunities to advance REC-617 (CDK7) and REC-3565 (MALT1).

Partnered Discovery Highlights Recursion’s 9th Milestone Achieved in Past Two Years

Sanofi options potential first-in-class immunology development candidate

Sanofi has optioned the first development candidate from the two companies’ multi-program research collaboration. The candidate has now been added to Sanofi’s development pipeline and is expected to enter Phase 1 clinical trials in 2027, with Sanofi funding and leading further development and commercialization to advance the program toward patients.

The option triggered a $10 million milestone payment to Recursion, bringing total upfront and milestone payments achieved from Sanofi under the collaboration to $144 million; Recursion is eligible for more than $300 million in additional milestones under the program, with double digit royalties on net product sales, if approved.

The potential first-in-class oral small molecule was designed to achieve a differentiated profile against a challenging dual target implicated in inflammatory disease. Optimizing for this target pair required navigating complex and competing chemistry constraints to achieve the desired balance of drug-like properties. The candidate was delivered by the combination of Recursion’s integrated AI-enabled drug design platform and small-molecule chemistry capabilities with Sanofi’s deep expertise in drug discovery and immunology. Recursion applied multiple computational design approaches across iterative cycles of prediction, chemical design, synthesis, and experimental validation to rapidly explore and optimize a complex chemical space.

With the first development candidate optioned, the collaboration has now achieved six progress-based milestones across five programs. Additional programs across the collaboration continue to advance. Over the next 12 months, other programs in the joint portfolio have the potential to reach development candidate and other progress-based milestones.

To learn more about this milestone, read the press release.

Genentech advanced first neuroscience target into early discovery program

In 3Q26, Genentech exercised the first Validated Target Option under the companies’ neuroscience collaboration, advancing a previously unexplored neuroscience target.

The milestone provides additional early evidence that Recursion’s AI-native platform can both discover and play a key role experimentally validating unexplored therapeutic targets in neuroscience, one of medicine’s most challenging therapeutic areas, where decades of research have largely focused on a limited number of well-studied targets. Predictions generated from the first whole-genome CRISPR knockout map, which was built by Recursion in partnership with Roche and Genentech from a subset of over 1 trillion internally manufactured iPSC-derived neuronal cells, were rigorously jointly validated with Genentech. Only targets that consistently demonstrated compelling evidence across pathway, functional, and disease validation progress into a validation package.

Next steps will include advancing the target through small molecule design, hit generation, and validation using Recursion’s AI-native chemistry platform. More broadly, the neuronal and microglial maps of biology remain reusable assets capable of being collaboratively utilized with biological, genetics, and computational expertise to generate and experimentally validate additional therapeutic hypotheses. To date, Recursion has achieved $216 million in upfront and milestone payments from the Roche and Genentech collaboration. The collaboration includes up to 40 potential small molecule discovery programs, each carrying the potential for more than $300 million in development, commercialization, and net sales milestones as well as tiered royalties up to high single digits per small molecule program for Recursion.

Potential upcoming milestones across partnered discovery:

• Potential for additional differentiated AI-enabled oral molecules to reach development candidate and late-stage discovery milestones with Sanofi over the next 12 months
• Translating AI-driven insights from maps of biology into new potentially novel targets from reusable high-dimensional data/maps with Roche and Genentech
• Using Recursion’s chemistry platform to design potential first-in-class molecules for the collaboration’s first neuroscience target with Genentech

Fred Hassan appointed Chair of the Board

Recursion announced that its Board of Directors has appointed Fred Hassan as Chair, effective October 31, 2026.

Mr. Hassan brings more than four decades of pharmaceutical leadership spanning company transformation, drug development, commercialization, investing and Board service. As Chairman and Chief Executive Officer of Schering-Plough, he led a transformation that restored sales growth and strong cash flow while expanding the company’s Phase 3 pipeline from three new molecular entities to eight. He previously served as Chairman and Chief Executive Officer of Pharmacia.

Mr. Hassan also brings extensive perspective from across the biotechnology and investment ecosystem. He serves as Lead Independent Director of BridgeBio Pharma, where his Board tenure has spanned the FDA approval and U.S. launch of Attruby, and as Executive Chair of Norstella, the pharmaceutical intelligence company behind Citeline, MMIT and Evaluate. His prior Board roles include Amgen and Prometheus Biosciences. He is also a Director at Warburg Pincus, where he previously served as Partner and Managing Director.

Third Quarter 2026 Financial Results

• Cash Position: Cash, cash equivalents and restricted cash were $561.5 million as of September 30, 2026. Including net proceeds of approximately $187.2 million from the Company’s underwritten offering which completed on October 16, 2026, pro forma cash, cash equivalents and restricted cash were approximately $748.7 million. Based on current operating plans with no additional financing, the Company expects its cash runway to extend into 2029.
• Revenue: Total revenue, consisting primarily of revenue from collaboration agreements, was $18.6 million for the third quarter of 2026, compared to $5.2 million for the third quarter of 2025. The increase was driven primarily by the Company’s collaboration with Sanofi, under which the Company achieved a $10.0 million milestone for an immunology small molecule program during the quarter.
• Research and Development Expenses: Research and development expenses were $99.1 million for the third quarter of 2026, compared to $121.1 million for the third quarter of 2025. The decrease was driven primarily by $22.8 million of in-process research and development costs related to the acquisition of full rights to REC-102, Recursion’s ENPP1 inhibitor for the treatment of hypophosphatasia (HPP), from its joint venture with Rallybio that were recognized in the third quarter of 2025 and did not recur in the current period.
• General and Administrative Expenses: General and administrative expenses were $32.6 million for the third quarter of 2026 compared to $41.6 million for the third quarter of 2025. The decrease in general and administrative expense compared to the prior period was primarily driven by a decrease in infrastructure technology expenses and professional service costs.
• Net Loss: Net loss was $119.0 million for the third quarter of 2026, compared to a net loss of $162.3 million for the third quarter of 2025.
• Operational Cash Flows: Net cash used in operating activities was $77.4 million for the three months ended September 30, 2026, compared to net cash used in operating activities of $117.4 million for the three months ended September 30, 2025. The decrease in cash used in operating activities was primarily driven by operating efficiencies across the company and working capital movements.
• Cash Operating Expense: Cash operating expense, excluding partnership inflows and transaction costs, for the nine months ended September 30, 2026 was $271.5 million compared to $323.1 million for the nine months ended September 30, 2025.

About Recursion
Recursion (NASDAQ: RXRX) is a leading clinical-stage company pioneering AI-enabled drug discovery and development decoding biology to radically improve lives. Recursion is advancing a portfolio of differentiated investigational medicines across its wholly owned and partnered pipeline in oncology, rare disease, neuroscience, immunology, and other therapeutic areas with significant unmet need. Enabling its mission is the Recursion OS, an AI-native, end-to-end drug discovery and development platform integrating biology, chemistry, and clinical development into a unified intelligence system. Powered by proprietary multimodal data, purpose-built AI models, and bilingual teams fluent in both science and AI, the Recursion OS is designed to translate complex science into medicines that matter — faster, better, and at scale — for patients who are waiting.

Recursion’s platform infrastructure is anchored in Salt Lake City, Utah and Milton Park, Oxfordshire, where its automated biology and chemistry laboratories generate proprietary data at industrial scale. Recursion also maintains offices in New York, Montréal, and London, three global hubs for talent and leadership at the intersection of AI and scientific innovation.

Media Contact
media@recursion.com

Investor Contact
investor@recursion.com

Recursion Pharmaceuticals Inc Condensed Consolidated Statements of Operations (unaudited)

(in thousands, except share and per share amounts)

	Three months ended September 30,							Nine months ended September 30,
		2026			2025				2026			2025
Revenue
Operating revenue	$	18,055		$	4,983			$	31,659		$	38,905
Grant revenue		497			192				1,035			238
Total revenue		18,552			5,175				32,694			39,143
Operating costs and expenses
Cost of revenue		10,045			14,687				34,026			56,678
Research and development		99,122			121,062				276,632			379,331
General and administrative		32,561			41,628				108,684			142,932
Total operating costs and expenses		141,728			177,377				419,342			578,941
Loss from operations		(123,176	)		(172,202	)			(386,648	)		(539,798	)
Other income, net		4,165			9,952				14,524			3,005
Loss before income taxes		(119,011	)		(162,250	)			(372,124	)		(536,793	)
Income tax benefit (expense)		(25	)		(3	)			4,579			156
Net loss	$	(119,036	)	$	(162,253	)		$	(367,545	)	$	(536,637	)
Per share data
Net loss per share of Class A, B and Exchangeable common stock, basic and diluted	$	(0.22	)	$	(0.36	)		$	(0.69	)	$	(1.27	)
Weighted-average shares (Class A, B and Exchangeable) outstanding, basic and diluted		543,000,977			446,988,046				534,971,854			422,642,653

Recursion Pharmaceuticals Inc
Condensed Consolidated Balance Sheets (unaudited)
(in thousands)

	September 30,			December 31,
		2026			2025
Assets
Current assets
Cash and cash equivalents	$	549,853		$	743,294
Restricted cash		6,657			4,594
Other receivables		34,065			24,649
Prepaid data assets		2,882			11,742
Other current assets		22,564			28,566
Total current assets		616,021			812,845
Restricted cash, non-current		5,020			6,033
Property and equipment, net		85,838			103,931
Operating lease right-of-use assets		51,198			45,339
Financing lease right-of-use assets		15,663			20,210
Intangible assets, net		273,677			309,903
Goodwill		160,710			162,158
Deferred tax assets		957			957
Other assets, non-current		12,628			12,754
Total assets	$	1,221,712		$	1,474,130
Liabilities and stockholders’ equity
Current liabilities
Accounts payable	$	16,384		$	18,118
Accrued expenses and other liabilities		66,651			70,230
Unearned revenue		15,811			37,605
Operating lease liabilities		12,264			12,663
Notes payable and financing lease liabilities		11,808			9,091
Total current liabilities		122,918			147,707
Unearned revenue, non-current		120,020			114,012
Operating lease liabilities, non-current		50,535			46,647
Notes payable and financing lease liabilities, non-current		93			9,564
Deferred tax liabilities		18,371			23,255
Other liabilities, non-current		3,963			2,080
Total liabilities		315,900			343,265
Stockholders’ equity
Common stock		6			5
Additional paid-in capital		3,319,723			3,170,145
Accumulated deficit		(2,443,547	)		(2,076,002	)
Accumulated other comprehensive income		29,630			36,717
Total stockholders’ equity		905,812			1,130,865
Total liabilities and stockholders’ equity	$	1,221,712		$	1,474,130

Recursion Pharmaceuticals Inc
Selected Cash Flow Information (unaudited)
(in thousands)

		Three months ended September 30,						Nine months ended September 30,
			2026			2025			2026			2025
Net cash used in operating activities		$	(77,406	)	$	(117,360	)	$	(264,454	)	$	(325,735	)
Net cash used in investing activities			(407	)		(2,549	)		(2,704	)		(15,627	)
Net cash provided by (used in) financing activities		83,144			251,340				78,407			389,526
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(621	)	1,869				(3,640	)		15,957
Cash, cash equivalents and restricted cash, beginning of period		556,820			533,845				753,921			603,024
Cash, cash equivalents and restricted cash, end of period		$ 561,530			$ 667,145			$	561,530		$	667,145

Non-GAAP Financial Measure

The reconciliation of operating cash expense to net cash used in operating activities is provided in the following tables:

Cash Operating Expense – Nine months ended September 30, 2026	(in millions)
Net cash used in operating activities	$	264.5	*
Add: partnership inflows		7.0
Cash Operating Expense – Nine months ended September 30, 2026	$	271.5

*This is from the Recursion Inc Consolidated Statement of Cash Flows for the nine months ended September 30, 2026 (see above)

Cash Operating Expense – Nine months ended September 30, 2025	(in millions)
Net cash used in operating activities	$	325.7		*
Add: partnership inflows		7.0
Subtract: Transaction costs		(9.6	)
Cash Operating Expense – Nine months ended September 30, 2025	$	323.1

*This is from the Recursion Inc Consolidated Statement of Cash Flows for the nine months ended September 30, 2025 (see above)

To supplement our financial statements prepared in accordance with U.S. GAAP, we monitor and consider operating cash expense, which is a non-GAAP financial measure. We define cash operating expense as the net cash used in operating activities, excluding non-ordinary course transaction costs and partnership cash inflows. This non-GAAP financial measure is not based on any standardized methodology prescribed by U.S. GAAP and is not necessarily comparable to similarly-titled measures presented by other companies. We believe operating cash expense to be a liquidity measure that provides useful information to management and investors about the amount of cash consumed by the operations of the business. A limitation of using this non-U.S. GAAP measure is that operating cash expense does not represent the total change in cash and cash equivalents for the period because it excludes cash provided by or used for other investing and financing activities. We account for this limitation by providing information about our capital expenditures and other investing and financing activities in the statements of cash flows in our financial statements. Additionally, we reconciled operating cash expense above to net cash used in operating activities, the most directly comparable U.S. GAAP financial measure. In addition, it is important to note that other companies, including companies in our industry, may not use operating cash expense, may calculate operating cash expense in a different manner than we do or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of operating cash expense as a comparative measure. Because of these limitations, operating cash expense should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP.

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those regarding the impact of preclinical and clinical data from our programs, including the Phase 2 data from the TUPELO trial of REC-4881; the timing and outcome of anticipated engagement with the FDA, including the definition of a registrational path for REC-4881; the impact of the Phase 1 data from the DAHLIA trial of REC-1245 on the future success of that program; the selection of a dose for REC-1245 expansion cohorts; the potential for REC-7735 to limit metabolic liabilities and improve therapeutic index; Recursion’s ability to translate platform insights into validated targets and optimized development candidates; Recursion’s plans to focus resources on its high-impact partnerships and internal programs and to pursue partnership opportunities for REC-617 and REC-3565; the expected initiation of a Phase 1 clinical study of the development candidate optioned by Sanofi; the impact of Genentech’s option of any neuroscience target on future development of that or other potential targets; the reusability of our maps of biology and the potential to generate and experimentally validate additional therapeutic hypotheses, including through multi-modal maps combining our phenomics data with partner-provided data; financial position, including the expected impact of the net proceeds of our October 2026 underwritten offering, cash runway, cash burn, and 2026 and 2027 cash operating expense guidance; the occurrence or realization of potential milestones; the timing of data readouts and other milestones; Recursion’s future as a leader in AI-enabled drug discovery and development and ability to deliver better treatments to patients faster; expectations relating to early and late stage discovery, preclinical, and clinical programs, including timelines for commencement of and enrollment in studies, data readouts, presentations at scientific and medical meetings, and meetings with regulators; expectations and developments with respect to licenses and collaborations, including option exercises by partners and the amount and timing of potential milestone payments and royalties; prospective products and their potential future indications, differentiated profiles, and market opportunities; developments with Recursion OS, including the ability to discover and develop new medicines; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “may,” “could,” “should,” “expect,” “anticipate,” “intend,” “believe,” “estimate,” “project,” “designed to,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; the risk that interim, preliminary, or topline data from our clinical trials may change as more patient data become available and may not be predictive of final results; our ability to leverage and enhance our drug discovery platform; the performance and limitations of our artificial intelligence and machine learning models and the data on which they are trained; our reliance on third parties, including collaborators, contract research organizations, and manufacturers; our ability to initiate clinical trials and enroll patients on expected timelines; competition from other therapies and platforms; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities and our collaborators’ discretion over option exercises, program advancement, and funding; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our subsequent Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this document and are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e3f63cf6-70c6-464e-9e63-6608b58ef3fd

Châtillon, France, November 2, 2026

DBV Technologies to Participate in Upcoming November Investor Conferences

DBV Technologies (Euronext: DBV – ISIN: FR0010417345 – Nasdaq Stock Market: DBVT) (the “Company”), a late-stage biopharmaceutical company, today announced the company will participate at the following investor conferences in November:

Guggenheim Securities 3rd Annual Healthcare Innovation Conference – November 9, 2026
Format: Fireside Chat
Time:  8:00 am ET
Location: Boston, MA

2026 LifeSci Growth & Innovation Summit – November 16, 2026
Format: 1 on 1 Meetings
Location: London, UK

A live webcast of the fireside chat will be available on the Events section of the Company’s website here.

Replays will also be available on DBV Technologies’ website for 90 days after the event.

About DBV Technologies
DBV Technologies is a late-stage biopharmaceutical company developing treatment options for food allergies and other immunologic conditions with significant unmet medical need. DBV Technologies is currently focused on investigating the use of its proprietary VIASKIN® Patch technology to address food allergies, which are caused by a hypersensitive immune reaction and characterized by a range of symptoms varying in severity from mild to life-threatening anaphylaxis. Millions of people live with food allergies, including young children. Through epicutaneous immunotherapy (EPIT), the VIASKIN® Peanut Patch is designed to introduce microgram amounts of a biologically active compound to the immune system through intact skin. EPIT is a new class of non-invasive treatment that seeks to modify an individual’s underlying allergy by re-educating the immune system to become desensitized to allergen by leveraging the skin’s immune tolerizing properties. DBV Technologies is committed to transforming the care of people with food allergies. The Company’s food allergy programs include ongoing clinical trials of VIASKIN® Peanut Patch in toddlers (1 through 3 years of age) and children (4 through 7 years of age) with peanut allergy.

DBV Technologies is headquartered in Châtillon, France, with North American operations in Warren, NJ. The Company’s ordinary shares are traded on segment B of Euronext Paris (DBV, ISIN code: FR0010417345) and the Company’s ADSs (each representing five ordinary shares) are traded on the Nasdaq Capital Market (DBVT – CUSIP: 23306J309).

For more information, please visit www.dbv-technologies.com and engage with us on X (formerly Twitter) and LinkedIn.

VIASKIN is a registered trademark of DBV Technologies.

Investor Contact
Virginie Boucinha
DBV Technologies
virginie.boucinha@dbv-technologies.com

Media Contact
Brett Whelan
DBV Technologies
brett.whelan@dbv-technologies.com

Attachment

• PDF Version

MONTREAL, Nov. 02, 2026 (GLOBE NEWSWIRE) — (TSX: GRA) (OTCQX: NNXPF) – NanoXplore Inc. (“NanoXplore” or the “Company”), a world leader in graphene production and graphene-enhanced materials, today announced the appointment of Constantino Malatesta as Chief Financial Officer (CFO), effective November 11, 2026.

Mr. Malatesta joins NanoXplore from CAE Inc. (TSX: CAE, NYSE: CAE), a global leader in training and simulation for civil aviation and defence, where he spent nearly 20 years in progressively senior finance roles, most recently as Interim Chief Financial Officer for nearly two years. His appointment brings large-cap, dual-listed public-company discipline to NanoXplore’s finance function at a pivotal point in the Company’s growth and reflects NanoXplore’s continued evolution from growth-stage innovator to a performance-driven industrial technology company focused on profitable growth, cash flow generation and maximizing long-term shareholder value.

As CFO, Mr. Malatesta will lead NanoXplore’s global finance organization, with responsibility for financial reporting, performance management, treasury, capital allocation, investor relations, strategic planning and corporate development. He will be a key partner to the CEO and operations leadership in executing the Company’s priorities: accelerating the path to sustained profitability, improving cash flow conversion, strengthening the balance sheet and the disciplined allocation of capital to ensure every dollar of capital is allocated towards opportunities that create the greatest long-term shareholder value.

The appointment concludes a comprehensive search process. To ensure a smooth transition, Mr. Malatesta will work closely with Pedro Azevedo, who will remain with the Company through its Annual General Meeting to support continuity across the finance team.

“Constantino is exactly the CFO NanoXplore needs for this next chapter,” said Rocco Marinaccio, President and Chief Executive Officer. “He has led the finance function of a major global public company, managed complex reporting, treasury and M&A at scale, and has a proven, hands-on approach to partnering with operations to deliver results. As we sharpen our focus on profitable growth, cash generation and long-term value creation, his experience will be a significant asset to our shareholders, our customers and our team.”

Marinaccio concluded: “I also want to thank Pedro Azevedo for his contributions to NanoXplore and for his commitment to ensuring a smooth transition. Pedro played an important role in NanoXplore’s evolution, instilling a culture of operational and financial discipline that has positioned us well for our next phase of growth. On behalf of the Board and the entire leadership team, I thank Pedro for his dedication and wish him every success. ”

About Constantino Malatesta

Mr. Malatesta is an accomplished finance executive with more than 25 years of finance and accounting leadership experience. During his nearly 20-year career at CAE, he held a series of senior leadership positions across the organization’s global finance operations, culminating in his tenure as Interim Chief Financial Officer for nearly 24 months. Throughout his career, Mr. Malatesta has helped organizations improve financial performance, optimize capital deployment, strengthen investor confidence and support strategic transactions that enhance long-term enterprise value. Mr. Malatesta is a Chartered Professional Accountant (CPA) and a U.S Certified Public Accountant.

“I am honoured to join NanoXplore at such an exciting stage in its evolution,” said Mr. Malatesta. “NanoXplore has built a differentiated platform with world-class technology, established industrial-scale graphene production and a proven manufacturing footprint serving leading global manufacturers across multiple end markets. What excites me most is the opportunity to translate these strengths into accelerating profitability, stronger cash flow generation and enhanced shareholder value. I look forward to working with Rocco, the broader leadership team, our talented finance team and the Board to strengthen our financial foundation, deepen our engagement with the investment community and support NanoXplore’s growth as we capture the significant opportunities ahead.”

About NanoXplore Inc.   

NanoXplore is the world’s largest manufacturer of high-quality, cost-effective graphene, with 4,000 metric tons of annual production capacity in Montreal, Canada. The Company manufactures and supplies high volume graphene powders and provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. The Corporation is also a silicon-graphene enhanced Li-ion battery manufacturer for the energy storage, defense, and industrial markets. The company holds global regulatory approval for unlimited sales volumes of graphene in North America and serves as the lead REACH registrant for graphene in both the EU and the United Kingdom — providing customers with an unmatched combination of scale, quality assurance, and regulatory certainty. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities in Canada, the United States and Europe.

Please visit www.nanoxplore.ca  

For further information, please contact:  

Rocco Marinaccio,
President and Chief Executive Officer
Rocco.Marinaccio@nanoxplore.ca

SAN FRANCISCO, Nov. 02, 2026 (GLOBE NEWSWIRE) — Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond, today announced that the Company will participate in the following upcoming investor conferences:

Guggenheim 3rd Annual Healthcare Innovation Conference
Date and Time: November 10, 2026 at 10 a.m. ET
Format: Fireside Chat
Location: Boston, MA

Stifel 2026 Healthcare Conference
Date and Time: November 11, 2026 at 10:40 a.m. ET
Format: Fireside Chat
Location: New York, NY

UBS Global Biopharma Conference
Date and Time: November 17, 2026 at 3:20 p.m. GMT/10:20 a.m. ET
Format: Fireside Chat
Location: London, England

Jefferies Global Healthcare Conference
Date and Time: November 18, 2026 at 4 p.m. GMT/11 a.m. ET
Format: Fireside Chat
Location: London, England

Live webcasts and recordings of these presentations will be available, as permitted by the event host, in the Events and Presentations section of Olema’s investor relations website at ir.olema.com.

About Olema Oncology
Olema Oncology is a clinical-stage biopharmaceutical company committed to transforming the standard of care and improving outcomes for patients living with breast cancer and beyond. Olema is advancing a pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. Our lead product candidate, palazestrant (OP-1250), is a proprietary, orally available complete estrogen receptor antagonist (CERAN) and a selective estrogen receptor degrader (SERD), currently in two Phase 3 clinical trials. In addition, Olema is developing OP-3136, a potent lysine acetyltransferase 6 (KAT6) inhibitor, now in a Phase 1 clinical study. Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts. For more information, please visit www.olema.com.

Media and Investor Relations Contact
Courtney O’Konek
Vice President, Corporate Communications
Olema Oncology
media@olema.com

Companies to Evaluate Scalable, Clean and Firm Power Solutions to Advance 1 GW or More of Decarbonized Power in California

LONG BEACH, Calif., Nov. 02, 2026 (GLOBE NEWSWIRE) — California Resources Corporation (NYSE: CRC), and its carbon management business, Carbon TerraVault (CTV), today announced the signing of a memorandum of understanding¹ (MOU) with Bloom Energy (NYSE: BE) (Bloom), to jointly evaluate and target the potential development of 1 gigawatt (GW) or more of solid-oxide fuel cell power generation paired with carbon capture and storage in California.

“California needs more clean, firm, reliable, and affordable power generated here at home. We are uniquely positioned with land, vast subsurface storage and CO₂ transportation and storage expertise,” said Francisco Leon, CRC’s President and Chief Executive Officer. “When combined with Bloom’s non-combustion technology with highly efficient carbon capture, we are positioned to deliver clean and affordable energy to power data centers and the grid at scale. This has the potential to significantly expand the value proposition for Carbon TerraVault’s storage business and CRC’s integrated strategy.”

Aman Joshi, Bloom’s Chief Commercial Officer, added, “Our non-combustion technology makes carbon capture more efficient and economically viable at scale, opening a new path to carbon-neutral power generation and addressing the decarbonization needs of large critical infrastructure.”

Highlights

• Combine complementary capabilities across California, pairing Bloom’s scalable solid-oxide fuel cell and third-party carbon capture technologies with CTV’s carbon dioxide (CO₂) transportation and permanent storage capabilities and CRC’s proven project management expertise. Bloom’s high-concentration CO₂ exhaust stream can make carbon capture more efficient and more cost-effective, positioning California to be among the nation’s first to pair fuel cell power generation with carbon capture at scale
• Identify and develop new commercial pathways with potential third-party power offtake customers, including utilities, community choice aggregators, municipalities, data centers and other industrial users, along with the interconnection, permitting and other project-development work required to bring projects online
• Initially evaluate and advance 1 GW or more of potential front-of-the-meter (FTM) and behind-the-meter (BTM) projects, representing up to 3 million metric tons per annum of CO₂ emissions potentially available for capture and permanent storage, including contemplated projects in Central and Northern California:
  • FTM clean energy projects – targeting multiple FTM projects with potential connection to CTV’s vast California storage portfolio and utility offtake
  • BTM clean energy opportunities – additional contemplated BTM projects across CRC’s Central Valley footprint, designed for industries seeking on-site, clean and reliable power

¹ _{MOUs are non-binding agreements. The projects and transactions described in an MOU are subject to certain conditions precedent, typically including the negotiation of definitive documents, a final investment decision by the parties and receipt of EPA Class VI permits and other regulatory approvals.}

About California Resources Corporation

California Resources Corporation (CRC) is an independent energy and carbon management company advancing the energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing CCS and other emissions reducing projects. For more information about CRC, please visit www.crc.com.

About Carbon TerraVault

Carbon TerraVault (CTV), CRC’s carbon management business, develops services to capture, transport and permanently store CO₂ for its customers. CTV is advancing a portfolio of CCS projects, including CTV I, which is now operational and injecting CO₂ for permanent sequestration in a depleted reservoir deep underground. For more information, visit www.carbonterravault.com.

Forward-Looking Statements

Information set forth in this communication, including financial estimates and statements, constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other securities laws. All statements other than historical facts are forward-looking statements, and include statements regarding CRC’s future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and plans and objectives and intentions of management for the future. Words such as “expect,” “could,” “may,” “anticipate,” “intend,” “plan,” “ability,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “guidance,” “outlook,” “opportunity” or “strategy” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the management of CRC and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, projected in, or implied by, such statements.

Although CRC believes the expectations and forecasts reflected in its forward-looking statements are reasonable, they are inherently subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond its control. No assurance can be given that such forward-looking statements will be correct or achieved or that the assumptions are accurate or will not change over time. Particular uncertainties that could cause CRC’s actual results to be materially different than those expressed in its forward-looking statements are described in its most recent Annual Report on Form 10-K and its other periodic filings with the SEC. These factors include, but are not limited to: fluctuations in commodity prices; production levels and/or pricing by OPEC, OPEC+ or U.S. producers; government policy, war and political conditions and events; changes in price realizations; integration efforts and projected synergies and other benefits in connection with the Berry Merger, Crimson acquisition and other acquisitions; divestitures and joint ventures, including the Uinta divestiture; regulatory actions and changes that affect the oil and gas industry generally and CRC in particular; the efforts of activists to delay or prevent oil and gas activities or the development of CRC’s carbon management segment; changes in business strategy and the ability and financial resources to execute its capital plan in a timely manner; lower-than-expected production; changes to estimates of reserves and related future cash flows; the recoverability of resources and unexpected geologic conditions; general economic conditions and trends; results from operations and competition in the industries in which it operates; CRC’s ability to realize the anticipated benefits from prior or future efforts to reduce costs and improve capital efficiencies; environmental risks and liability; the benefits contemplated by its energy transition strategies and initiatives; CRC’s ability to successfully identify, develop and finance carbon capture, transportation and storage projects, power projects and other renewable energy efforts, including those contemplated by the Bloom MOU; changes in transportation costs and CRC’s ability to develop midstream opportunities; delays from government approvals and otherwise that could affect the timing of projects; future dividends and share repurchases and de-leveraging efforts; and natural disasters, accidents, mechanical failures, power outages, labor difficulties, cybersecurity breaches or attacks or other catastrophic events.

CRC cautions you not to place undue reliance on forward-looking statements contained in this document, which speak only as of the date hereof, and CRC is under no obligation, and expressly disclaims any obligation to update, alter or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise. This communication may also contain information from third-party sources. This data may involve a number of assumptions and limitations, and CRC has not independently verified them and does not warrant the accuracy or completeness of such third-party information.

Contacts:

Daniel Juck (Investor Relations) 818-661-3700 CRC_IR@crc.com

Hailey Bonus (Media) 714-874-7732 CRC.Communications@crc.com