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• Record total revenues of $226.8 million in the third quarter 2026, an 18% increase compared to same period last year.
• Combined revenues of the Company’s four growth products increased to $192.2 million in the third quarter 2026, representing an increase of 29% compared to the same period last year. This strong growth was driven by an increase in net sales of Qelbree^® , GOCOVRI^®, ZURZUVAE^®, and ONAPGO™.
• Received orphan-drug exclusive approval for ONAPGO and submitted an sNDA to the FDA to add a second supplier.
• Merger with Indivior Pharmaceuticals, Inc. (Indivior) expected to close on November 2, 2026.

ROCKVILLE, Md., Oct. 29, 2026 (GLOBE NEWSWIRE) — Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced financial results for the third quarter 2026 and associated Company developments.

“Our strong operating execution year-to-date delivered total revenue growth of 29%, which shows the continued momentum across our commercial portfolio, specifically our growth products.” said Jack Khattar, President and Chief Executive Officer of Supernus. “We look forward to closing the merger with Indivior next week, which will create a diverse CNS biopharmaceutical leader positioned to serve more patients and deliver long-term value for shareholders.”

Commercial Highlights

• ONAPGO net product sales were $17.1 million in the third quarter of 2026. Demand for the product continued to be healthy, with more than 400 enrollment forms submitted in the third quarter. In the third quarter 2026, prescriptions grew by 17% compared to the second quarter 2026. The U.S. Food and Drug Administration (FDA) has recognized seven years of orphan-drug exclusive approval for ONAPGO for the treatment of motor fluctuations in adults with advanced Parkinson’s disease. In addition, the Company submitted a supplemental New Drug Application (sNDA) for a second supplier for ONAPGO, with potential FDA approval by mid-year 2027.
• Collaboration revenue from ZURZUVAE was $41.7 million in the third quarter of 2026. Collaboration revenue represents 50% of the net revenues for ZURZUVAE recorded by Biogen Inc. Third quarter 2026 U.S sales of ZURZUVAE, as reported by Biogen Inc., increased approximately 53% compared to the same period in 2025. The total number of prescriptions for ZURZUVAE increased by 43% in the third quarter of 2026 compared to the same period last year.
• Net sales of Qelbree increased 12% to $90.8 million in the third quarter of 2026, compared to the same period in 2025, driven primarily by volume growth. Total IQVIA prescriptions⁽⁶⁾ for Qelbree were 282,887 for the third quarter 2026, representing an increase of 18% compared to the same period last year. Prescription growth in the adult and pediatric populations was 25% and 16%, respectively, compared to the same period last year.   
• GOCOVRI grew by approximately 4% in net sales and 4% in prescriptions in the third quarter of 2026, compared to the same period in 2025. Net sales reached an all-time high of $42.6 million in the third quarter of 2026.

Product Pipeline Update

SPN-817 – Novel first-in-class highly selective AChE inhibitor for epilepsy

• The Phase 2b randomized, double-blind, placebo-controlled study of 3mg and 4mg twice daily doses is ongoing with a targeted enrollment of approximately 258 adult patients with treatment resistant focal seizures.

SPN-820 – Novel first-in-class molecule that increases mTORC1 mediated synaptic function for depression

• The Phase 2b multi-center, randomized, double-blind, placebo-controlled trial in approximately 200 adults with major depressive disorder (MDD). The study will examine the safety and tolerability of SPN-820 2400mg given intermittently (twice weekly) as an adjunctive treatment to the current baseline antidepressant therapy, as well as assess the rapid onset of improvement in depressive symptoms.

SPN-443 – Novel stimulant for attention-deficit/hyperactivity disorder (ADHD)

• The Company expects to initiate a Phase 1 single-ascending/multiple-ascending dose study in adult healthy volunteers by the end of 2026.

Strategic Merger with Indivior Pharmaceuticals, Inc

On August 3, 2026, Supernus announced that it had entered into an agreement to combine in an all-stock merger with Indivior. The combination will create a diversified CNS biopharmaceutical leader with significant scale and financial resources to accelerate growth opportunities. The go-forward company, to be named Supernus, Inc., is expected to generate significant value for shareholders of both companies and expected to realize $125 million in annual cost synergies.

The merger was approved by the shareholders of both companies on October 15, 2026, and is expected to close on November 2, 2026. Supernus, Inc. will be listed on the Nasdaq Global Market and will begin trading under the ticker symbol “SUPN” on November 3, 2026.

Financial Highlights

This section includes information on non-GAAP financial measures. See “Non-GAAP Financial Information” section for information on non-GAAP financial measures. In addition, a reconciliation of applicable GAAP to non-GAAP financial information is included at the end of this press release.

Revenues

The following table provides information regarding total revenues (dollars in millions):

	Three Months Ended September 30,									Nine Months Ended September 30,
	2026			2025			Change %			2026			2025			Change %
	(unaudited)									(unaudited)
Net product sales
Qelbree	$	90.8		$	81.4		12	%		$	257.9		$	223.7		15	%
GOCOVRI		42.6			40.8		4	%			115.4			108.2		7	%
ONAPGO		17.1			6.8		151	%			39.0			8.4		364	%
Trokendi XR®		10.2			10.0		2	%			28.1			34.0		(17	)%
Oxtellar XR®		8.0			12.1		(34	)%			24.2			33.9		(29	)%
APOKYN®		6.5			10.4		(38	)%			20.5			38.2		(46	)%
Other(2)		3.4			7.0		(52	)%			9.9			22.1		(55	)%
Total net product sales		178.6			168.5		6	%			495.0			468.5		6	%
Collaboration revenue (ZURZUVAE) (3)		41.7			20.2		107	%			104.7			20.2		419	%
Total revenues from commercial products (Non-GAAP) (1) (4)		220.3			188.7		17	%			599.7			488.7		23	%
Royalty, licensing and other revenues(5)		6.5			3.4		91	%			53.8			18.7		188	%
Total revenues	$	226.8		$	192.1		18	%		$	653.5		$	507.4		29	%

Total revenues from commercial products (non-GAAP)⁽¹⁾⁽⁴⁾ represent revenues from our product sales to customers and through our collaboration agreement with Biogen.

Other Financial Highlights

• Operating earnings (loss) was an earnings of $21.2 million and a loss of $45.1 million for three and nine months ended September 30, 2026, compared to an operating loss of $60.2 million and $58.3 million for the same period in 2025. The increase in the three month period ended September 30, 2026 was primarily due to higher revenues, as well as a decrease in selling, general, and administrative expenses due to the absence of acquisition-related costs associated with the acquisition of Sage in the third quarter of 2025. The increase in the nine month period ended September 30, 2026 was primarily due to higher revenues.
• Adjusted operating earnings (non-GAAP)⁽¹⁾ were $55.2 million and $115.2 million for three and nine months ended September 30, 2026, compared to $41.9 million and $110.2 million for the same period in 2025.
• Net earnings (loss) and diluted earnings (loss) per share were $20.9 million and $0.35 for the three months and $(39.8) million and $(0.69) for nine months ended September 30, 2026, respectively, compared to net loss and diluted loss per share of $(45.1) million and $(0.80) for the three months and $(34.4) million and $(0.61) nine months ended September 30, 2025, respectively.
• Cash, cash equivalents, and current marketable securities were approximately $359.5 million as of September 30, 2026, compared to $308.7 million as of December 31, 2025. This increase was primarily due to cash generated from operations.

Full Year 2026 Financial Guidance

As a stand-alone company, the Company is raising its guidance for the full year 2026 financial guidance as set forth below (dollars in millions):

		Current Guidance (as of October 29, 2026)		Previous Guidance (as of August 4, 2026)
Total revenues include the following(7): ONAPGO net sales of $60 million – $65 million Trokendi XR and Oxtellar XR net sales of $60 million – $67 million		$875 – $900		$860 – $890
Operating Earnings (Loss) – GAAP		$(5) – $(40)		$(20) – $(50)
Operating Earnings – As Adjusted (Non-GAAP)		$160 – $180		$150 – $180

Assuming the merger is completed on November 2, 2026, we will operate as a combined company, and the guidance above will no longer apply.

Non-GAAP Financial Information

This press release contains financial measures that present financial information which do not comply with United States generally accepted accounting principles (GAAP). The non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, or superior to measures prepared in accordance with GAAP. Non-GAAP adjusted operating earnings on a historical and projected basis adjusts for non-cash share-based compensation expense, depreciation and amortization, intangible asset impairment charges and changes to fair value of contingent consideration, and for factors that are unusual, non-recurring or unpredictable, and excludes those costs, expenses, and other specified items presented in the reconciliation tables in this press release. We also present total revenues excluding net sales of Trokendi XR (GAAP) and Oxtellar XR (GAAP), which is a non-GAAP measure and is calculated as total revenues (GAAP) less net product sales of Trokendi XR (GAAP) and Oxtellar XR (GAAP). Beginning in the year a product loses exclusivity due to generic entrants, we generally do not expect net product sales of such products to constitute a significant part of our revenue in the future. We also present total revenues from commercial products, which is also a non-GAAP measure and is calculated as the combined total of total net product sales (GAAP) and collaboration revenues (GAAP). We believe that the use of non-GAAP financial measures provides useful supplemental information to management, investors, analysts and others regarding the Company’s revenue and results of operations and assist management, investors, analysts, and others in understanding and evaluating our revenue growth and the performance of the business.

There are limitations associated with the use of non-GAAP financial measures and therefore comparability may be limited. These limitations include: non-GAAP financial measures that may not be entirely comparable to similarly titled measures used by other companies; these may not reflect all items of income and expense, as applicable, that affect our operations; there may be potential differences among calculation methodologies; these may differ from the non-GAAP information used by other companies, including peer companies. We mitigate these limitations by reconciling the non-GAAP financial measure to the most comparable GAAP financial measure. Investors are encouraged to review the reconciliation. The Company’s 2026 financial guidance is also being provided on both a GAAP and a non-GAAP basis.

End Notes

⁽¹⁾ See the section titled “Non-GAAP Financial Information” for information about this non-GAAP financial measure. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included at the end of this press release.
⁽²⁾ Includes net product sales of MYOBLOC^®, XADAGO^® and Osmolex ER^®.
⁽³⁾ Represents proportionate share of collaboration revenue from Biogen’s sales of ZURZUVAE to customers in the U.S. from July 31, 2025, the closing of the acquisition of Sage Therapeutics, Inc.
⁽⁴⁾ Total revenues from commercial products, a non-GAAP measure, represents revenues from our product sales to customers and through our collaboration agreement with Biogen.
⁽⁵⁾ Royalty, licensing, and other revenues include royalties on generic Trokendi XR, Oxtellar XR, other licensed products and intellectual property.
⁽⁶⁾ IQVIA data restatement July 1, 2025.
⁽⁷⁾ Includes net product sales, collaboration revenue, and royalty, licensing, and other revenue.

Conference Call Details

Supernus will host a conference call and webcast today, October 29, 2026, at 4:30 p.m. ET.to discuss its third quarter and nine months results. A live webcast will be available in the Events & Presentations section of the Company’s Investor Relations website www.supernus.com/investors.

Participants may also pre-register any time before the call here. Once registration is completed, participants will be provided a dial-in number with a personalized conference code to access the call. Please dial in 15 minutes prior to the start time.

Following the live call, a replay will be available on the Company’s Investor Relations website www.supernus.com/investors. The webcast will be available on the Company’s website for 60 days following the live call.

About Supernus Pharmaceuticals, Inc.

Supernus Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases.

Our diverse neuroscience portfolio includes approved treatments for attention-deficit hyperactivity disorder (ADHD), dyskinesia in Parkinson’s disease (PD) patients receiving levodopa-based therapy, hypomobility in PD, postpartum depression (PPD), epilepsy, migraine, cervical dystonia, and chronic sialorrhea. We are developing a broad range of novel product candidates for CNS disorders.

For more information, please visit www.supernus.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “may,” “will,” “would,” “could,” “should,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. These statements do not convey historical information but relate to predicted or potential future events that are based upon management’s current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the risk that the proposed merger may not be completed; the possibility that competing offers or acquisition proposals for Supernus or Indivior will be made; the delay or failure of the merger conditions to be satisfied (or waived), including the receipt of required approvals from stockholders of Supernus and Indivior; the failure (or delay) to receive the required regulatory approvals of the proposed merger; the possibility that prior to the completion of the transactions contemplated by the merger agreement, Supernus’s or Indivior’s business may experience significant disruptions due to transaction related uncertainty; the effects of disruption from the transactions on Supernus’s and Indivior’s business and the fact that the announcement and pendency of the transactions may make it more difficult to establish or maintain relationships with employees, manufacturers, suppliers, vendors, business partners and distribution channels to patients; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the risk that Supernus may be required to pay a termination fee to Indivior in specified circumstances in which the merger agreement is terminated, and the possibility that the existence of such fee may discourage third parties from proposing an alternative transaction; the risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; the restrictions on the conduct of Supernus’s business during the pendency of the merger under the interim operating covenants contained in the merger agreement, which may limit Supernus’s ability to pursue business opportunities, make acquisitions or dispositions, incur indebtedness, make capital expenditures, or otherwise take actions it would have taken absent the merger agreement, or to respond to competitive pressures or developments in its industry; the diversion of the attention and resources of Supernus’s management and employees from ongoing business operations and opportunities as a result of the substantial time and effort required to complete the merger and to prepare for integration; the fact that the exchange ratio is fixed and will not be adjusted for changes in the market price of Supernus or Indivior common stock prior to the consummation of the merger, which may decrease the value of the consideration received by Supernus stockholders in connection with the merger; the risk that the anticipated benefits, synergies and cost savings of the merger may not be realized, or may not be realized within the expected timeframe; the difficulties, costs and unanticipated liabilities associated with integrating the businesses, operations, systems, product portfolios and personnel of Supernus and Indivior; the risk that the combined company may be unable to retain and motivate key employees during the pendency of the merger and following its consummation; Supernus’s ability to sustain and increase its profitability; Supernus’s ability to raise sufficient capital to fully implement its corporate strategy; the implementation of Supernus’s corporate strategy; Supernus’s future financial performance and projected expenditures; Supernus’s ability to increase the number of prescriptions written for each of its products, and the products of its subsidiaries; Supernus’s ability to increase its net revenue from its products, and the products of its subsidiaries; Supernus’s ability to commercialize its products, and the products of its subsidiaries; Supernus’s ability to enter into future collaborations with pharmaceutical companies and academic institutions or to obtain funding from government agencies; Supernus’s product research and development activities, including the timing and progress of Supernus’s clinical trials, and projected expenditures; Supernus’s ability to receive, and the timing of any receipt of, regulatory approvals to develop and commercialize Supernus’s product candidates; Supernus’s ability to protect its intellectual property and the intellectual property of its subsidiaries and operate its business without infringing upon the intellectual property rights of others; Supernus’s expectations regarding federal, state and foreign regulatory requirements; the therapeutic benefits, effectiveness and safety of Supernus’s product candidates; the accuracy of Supernus’s estimates of the size and characteristics of the markets that may be addressed by its product candidates; Supernus’s ability to increase its manufacturing capabilities for its products and product candidates; Supernus’s projected markets and growth in markets; Supernus’s product formulations and patient needs and potential funding sources; Supernus’s staffing needs; changes to laws and regulations applicable to the pharmaceuticals industry; the impact of macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs; and other risk factors set forth from time to time in Supernus’s and Indivior’s filings with the Securities and Exchange Commission made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended. Supernus undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

Supernus Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share data)
	September 30,				December 31,
	2026				2025
	(unaudited)
Assets
Current assets
Cash and cash equivalents	$	175,884			$	128,448
Marketable securities		183,575				180,222
Accounts receivable, net		214,714				187,802
Inventories, net		87,112				82,385
Prepaid expenses and other current assets		49,930				65,325
Total current assets		711,215				644,182
Restricted cash		1,450				1,450
Property and equipment, net		10,021				10,531
Intangible assets, net		446,238				569,456
Goodwill		119,431				124,882
Deferred income tax assets, net		54,317				38,351
Other assets		55,018				63,796
Total assets	$	1,397,690			$	1,452,648
Liabilities and stockholders’ equity
Current liabilities
Accounts payable and accrued liabilities	$	109,136			$	107,800
Accrued product returns and rebates		165,348				161,097
Contingent consideration, current portion		—				31,052
Other current liabilities		10,913				38,222
Total current liabilities		285,397				338,171
Contingent consideration, long-term		206				206
Operating lease liabilities, long-term		28,577				30,365
Other liabilities		21,032				22,192
Total liabilities		335,212				390,934
Stockholders’ equity
Common stock, $0.001 par value; 130,000,000 shares authorized; 58,254,131 and 57,457,462 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively		58				57
Additional paid-in capital		584,575				543,825
Accumulated other comprehensive loss, net of tax		(280	)			(44	)
Retained earnings		478,125				517,876
Total stockholders’ equity		1,062,478				1,061,714
Total liabilities and stockholders’ equity	$	1,397,690			$	1,452,648

Supernus Pharmaceuticals, Inc. Condensed Consolidated Statements of Loss (in thousands, except share and per share data)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
	(unaudited)								(unaudited)
Revenues
Net product sales	$	178,576			$	168,542			$	495,042			$	468,525
Collaboration revenue (ZURZUVAE)		41,697				20,164				104,690				20,164
Royalty, licensing, and other revenues		6,498				3,397				53,802				18,691
Total revenues		226,771				192,103				653,534				507,380
Costs and expenses
Cost of revenues(a)		27,018				18,965				84,078				51,555
Research and development		25,756				29,366				94,657				78,408
Selling, general and administrative		128,056				179,678				386,866				363,173
Amortization of intangible assets		23,221				24,325				74,198				64,930
Impairment charges		1,541				—				56,460				—
Contingent consideration loss		—				—				2,391				7,660
Total costs and expenses		205,592				252,334				698,650				565,726
Operating earnings (loss)		21,179				(60,231	)			(45,116	)			(58,346	)
Other income (expense)
Interest and other income, net		2,248				2,277				7,260				11,230
Interest expense		(718	)			—				(3,033	)			—
Total other income, net		1,530				2,277				4,227				11,230
Earnings (loss) before income taxes		22,709				(57,954	)			(40,889	)			(47,116	)
Income tax expense (benefit)		1,796				(12,837	)			(1,138	)			(12,671	)
Net earnings (loss)	$	20,913			$	(45,117	)		$	(39,751	)		$	(34,445	)
Earnings (loss) per share
Basic	$	0.36			$	(0.80	)		$	(0.69	)		$	(0.61	)
Diluted	$	0.35			$	(0.80	)		$	(0.69	)		$	(0.61	)
Weighted average shares outstanding
Basic		58,202,474				56,552,741				57,975,499				56,133,918
Diluted		59,471,021				56,552,741				57,975,499				56,133,918

^(a) Excludes amortization of intangible assets.

Supernus Pharmaceuticals, Inc.
Reconciliations of GAAP to Non-GAAP Financial Information
(unaudited)

Reconciliation of GAAP Total revenues to Non-GAAP Total revenues excluding Trokendi XR and Oxtellar XR net sales

An itemized reconciliation between total revenues on a GAAP basis and total revenues excluding Trokendi XR and Oxtellar XR net sales, a non-GAAP measure, is as follows (dollars in millions):

	Three Months Ended September 30,											Nine Months Ended September 30,
		2026				2025			Change %				2026				2025			Change %
Total revenues (GAAP)(a)	$	226.8			$	192.1			18	%		$	653.5			$	507.4			29	%
Adjustments:
Trokendi XR net product sales		(10.2	)			(10.0	)		2	%			(28.1	)			(34.0	)		(17	)%
Oxtellar XR net product sales		(8.0	)			(12.1	)		(34	)%			(24.2	)			(33.9	)		(29	)%
Total revenues excluding Trokendi XR and Oxtellar XR net sales (non-GAAP)	$	208.6			$	170.0			23	%		$	601.2			$	439.5			37	%

___________________________________________
^(a) Includes net product sales, collaboration revenue, and royalty, licensing, and other revenues.

Reconciliation of GAAP Net Product Sales to Non-GAAP Revenues from Commercial Products

An itemized reconciliation between Net product sales on a GAAP basis and total revenues from commercial products, a non-GAAP measure, is as follows (dollars in millions):

	Three Months Ended September 30,									Nine Months Ended September 30,
	2026			2025			Change %			2026			2025			Change %
Net product sales (GAAP)	$	178.6		$	168.5		6	%		$	495.0		$	468.5		6	%
Adjustments:
Collaboration revenue (ZURZUVAE)		41.7			20.2		106	%			104.7			20.2		418	%
Total revenues from commercial products	$	220.3		$	188.7		17	%		$	599.7		$	488.7		23	%

Total revenues from commercial products, a non-GAAP measure, represents revenues from our product sales to customers and through our collaboration agreement with Biogen.

Reconciliation of GAAP Operating Earnings (Loss) to Non-GAAP Adjusted Operating Earnings

An itemized reconciliation between operating earnings (loss) on a GAAP basis and adjusted operating earnings on a non-GAAP basis is as follows (dollars in millions):

	Three Months Ended September 30,							Nine Months Ended September 30,
	2026				2025				2026				2025
Operating earnings (loss) – As Reported (GAAP)	$	21.2		$	(60.2	)		$	(45.1	)		$	(58.3	)
Adjustments:
Amortization of intangible assets		23.2			24.3				74.2				64.9
Impairment charges		1.5			—				56.4				—
Share-based compensation		8.9			30.7				26.0				46.3
Contingent consideration loss (gain)		—			—				2.4				7.7
Depreciation		0.4			0.5				1.3				1.6
Other acquisition-related costs		—			46.6				—				48.0
Operating earnings – As Adjusted (non-GAAP)	$	55.2		$	41.9			$	115.2			$	110.2

_________________________________________

Non-GAAP adjusted operating earnings adjusts for non-cash items, which include amortization of intangible assets, share-based compensation expense, change in fair value of contingent consideration, depreciation, and intangible asset impairment charges.

Reconciliation of Full Year 2026 Financial Guidance – GAAP Operating Earnings (Loss) to Non-GAAP Adjusted Operating Earnings

An itemized reconciliation between projected operating earnings (loss) on a GAAP basis for the full year 2026 and projected adjusted operating earnings on a non-GAAP basis for the full year 2026 is as follows (dollars in millions):

	Current Guidance (as of October 29, 2026)			Prior Guidance (as of August 4, 2026)
Operating earnings (loss) – GAAP	$(5) – $(40)			$(20) – $(50)
Adjustments:
Amortization of intangible assets	$97			$97
Intangible asset impairment charges	$55			$55
Share-based compensation	$35			$35
Contingent consideration loss	$2			$2
Depreciation	$3			$3
Operating earnings – As Adjusted (non-GAAP)	$160 – $180			$150 – $180

CONTACTS:

Jack A. Khattar, President and CEO
Timothy C. Dec, Senior Vice President and CFO
Supernus Pharmaceuticals, Inc.
(301) 838-2591

or

INVESTOR CONTACT:

Peter Vozzo
ICR Healthcare
(443) 213-0505
peter.vozzo@icrhealthcare.com

• Q1 revenue increased by 6% to $1.4 billion; up 7% on a core constant currency basis
• Q1 GAAP diluted earnings per share up 23% to $2.92; non-GAAP diluted EPS up 14% to $2.91
• Returned more than $1.0 billion to shareholders through share repurchases and dividends during Q1

Note: A webcast of Resmed’s conference call will be available at 4:30 p.m. ET today at http://investor.resmed.com

SAN DIEGO, Oct. 29, 2026 (GLOBE NEWSWIRE) — Resmed Inc. (NYSE: RMD, ASX: RMD) today announced results for its quarter ended September 30, 2026.

“We began fiscal year 2027 with a strong first quarter, driven by continued global demand for our sleep and breathing health solutions and ongoing execution across our business,” said Resmed’s Chairman and CEO, Mick Farrell. “Year over year, we grew core constant currency revenue 7%, expanded non-GAAP gross margin by 50 basis points, and increased non-GAAP earnings per share by 14%. Our strong free cash flow and the proceeds from our divestiture of MatrixCare enabled us to both invest in innovation and return more than $1 billion to shareholders during the quarter.”

“Looking ahead to the rest of fiscal year 2027, we will continue to build our core sleep and breathing health businesses by extending the reach of our digital health ecosystem and connecting more of the people worldwide who need care with life-saving treatment delivered right in their own home.”

Other Business and Operational Highlights

• Closed the previously announced divestiture of the MatrixCare business.
• Announced the U.S. launch of the AirTouch F40, the newest addition to Resmed’s growing portfolio of fabric CPAP masks.
• Partnered with Eight Sleep to connect its technology with Resmed sleep insights for people in the U.S. and Australia, and with 23XI Racing NASCAR driver Tyler Reddick, following his sleep apnea diagnosis, to help others recognize the signs and seek treatment.
• Announced appointment of Carol Burt as Lead Director, effective November 15, 2026, after the planned retirement of Director Ron Taylor.

Financial Results and Operating Metrics
(Unaudited; $ in millions, except for per share amounts)

	Three Months Ended
	September 30, 2026				September 30, 2025				% Change			Constant Currency(A)
Revenue	$	1,415			$	1,336			6	%		6	%
Gross margin(D)		61.5	%			61.2	%		30 bps
Non-GAAP gross margin(B)		62.5	%			62.0	%		50 bps
Research and development expenses(D)		103				89			15			13
Non-GAAP research and development expenses(B)		102				87			16			14
Selling, general, and administrative expenses(D)		315				282			12			11
Non-GAAP selling, general, and administrative expenses(B)		276				259			6			6
Income from operations		453				447			1
Operating margin		32.0	%			33.4	%		(140) bps
Non-GAAP income from operations(B)		506				482			5
Non-GAAP operating margin(B)		35.8	%			36.1	%		(30) bps
Net income		418				349			20
Non-GAAP net income(B)		418				375			12
Diluted earnings per share	$	2.92			$	2.37			23
Non-GAAP diluted earnings per share(B)	$	2.91			$	2.55			14
Operating cash flow		422				457			(8	)
Free cash flow(C)		374				414			(10	)

1. In order to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency fluctuations, we provide certain financial information on a “constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP. Revenue growth on a core constant currency basis, which also excludes the impact of the Noctrix acquisition and the divestiture of the MatrixCare business, was 7%.
2. See the reconciliation of non-GAAP financial measures in the table at the end of the press release.
3. Free cash flow is equal to operating cash flow less purchases of property, plant and equipment.
4. During the first quarter of fiscal year 2027, we revised the presentation of restructuring expenses and amortization of acquired intangibles. Restructuring expenses, which were previously presented as a separate line item within operating expenses, are now classified within cost of sales, research and development expenses, and selling, general and administrative expenses based on the function of the associated costs. Amortization of acquired intangibles relating to cost of sales is no longer presented as a separate line item within cost of sales. Amortization of acquired intangibles relating to operating expenses are now classified within selling, general and administrative expenses. Prior-period amounts have been reclassified to conform to the current-period presentation. See reconciliation of reclassification of prior-period amounts at the end of the press release.

Discussion of First Quarter Results
All comparisons are to the prior year period unless otherwise noted

• Strong revenue growth: Revenue increased 6% (7% in core constant currency) to approximately $1.4 billion, primarily driven by strong demand across sleep devices and masks and accessories.
   
• Global momentum: On a core constant currency basis, Americas Sleep and Breathing Health revenue grew 7%, Rest of World Sleep and Breathing Health grew 8%, and Residential Care Software revenue increased 5%.
   
• Healthy profitability: GAAP gross margin of 61.5%. Non-GAAP gross margin increased 50 basis points to 62.5%, predominantly from productivity pipeline execution.
   
• Robust earnings growth: GAAP operating margin of 32.0% and GAAP diluted earnings per share of $2.92. Non-GAAP operating margin of 35.8% and non-GAAP diluted earnings per share of $2.91, up 14% year-over-year, predominantly attributable to strong revenue growth and gross margin improvement.
   
• Strong cash generation: Operating cash flow totaled $422 million and free cash flow totaled $374 million. Proceeds from the sale of MatrixCare and strong cash flows supported $1.0 billion returned to shareholders through dividends and share repurchases while maintaining investment in innovation and growth initiatives.

Fiscal Year 2027 guidance

Metric	FY 2027 Guidance as of August 6, 2026	FY 2027 Guidance as of October 29, 2026	Change
Revenue	Core Constant Currency: 5 – 7% growth	Core Constant Currency: 5 – 7% growth	—
	Reported: $5.75 – $5.85 Billion	Reported: $5.75 – $5.85 Billion	—
Non-GAAP Diluted EPS	$12.00 – $12.25	$12.00 – $12.25	—

Dividend program
The Resmed board of directors today declared a quarterly cash dividend of $0.66 per share. The dividend will have a record date of November 12, 2026, payable on December 17, 2026. The dividend will be paid in U.S. currency to holders of Resmed’s common stock trading on the New York Stock Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the Australian Securities Exchange will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. The ex-dividend date will be November 11, 2026, for common stockholders and for CDI holders. Resmed has received a waiver from the ASX’s settlement operating rules, which will allow Resmed to defer processing conversions between its common stock and CDI registers from November 11, 2026, through November 12, 2026, inclusive. 

Webcast details
Resmed will discuss its first quarter fiscal year 2027 results on its webcast at 1:30 p.m. U.S. Pacific Time today. The live webcast of the call can be accessed on Resmed’s Investor Relations website at investor.resmed.com. Please go to this section of the website and click on the icon for the “Q1 2027 Earnings Webcast” to register and listen to the live webcast. A replay of the earnings webcast will be accessible on the website and available approximately two hours after the live webcast. In addition, a telephone replay of the conference call will be available approximately three hours after the webcast by dialing +1 877-660-6853 (U.S.) or +1 201-612-7415 (outside U.S.) and entering the passcode 13762822. The telephone replay will be available until November 12, 2026.

About Resmed
Resmed (NYSE: RMD, ASX: RMD) creates life-changing health technologies that people love. We’re relentlessly committed to pioneering innovative technology to empower millions of people in 140 countries to live happier, healthier lives. Our AI-powered digital health solutions, cloud-connected devices and intelligent software make home healthcare more personalized, accessible and effective. Ultimately, Resmed envisions a world where every person can achieve their full potential through better sleep and breathing, with care delivered in their own home. Learn more about how we’re redefining sleep health at Resmed.com and follow @Resmed.

Safe harbor statement
Statements contained in this release that are not historical facts are “forward-looking” statements as contemplated by the Private Securities Litigation Reform Act of 1995. These forward-looking statements – including statements regarding Resmed’s projections of future revenue or earnings, expenses, results of operations, new product development, new product launches, new markets for its products, the integration of acquisitions and success of strategic initiatives, including divestitures, our supply chain, domestic and international regulatory developments, litigation, tax outlook, and the expected impact of macroeconomic conditions of our business – are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Additional risks and uncertainties are discussed in Resmed’s periodic reports on file with the U.S. Securities & Exchange Commission. Resmed does not undertake to update its forward-looking statements.

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RESMED INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations
(Unaudited; $ in thousands, except for per share amounts)

	Three Months Ended
	September 30, 2026				September 30, 2025
Net revenue	$	1,414,814			$	1,335,582
Cost of sales (2)		544,247				517,918
Gross profit (2)		870,567				817,664
Research and development (2)		102,860				89,479
Selling, general, and administrative (2)		314,723				281,648
Total operating expenses		417,583				371,127
Income from operations		452,984				446,537
Other income (expenses), net:
Interest (expense) income, net		16,384				8,793
Gain (loss) attributable to equity method investments		1,884				1,489
Gain (loss) on equity investments		5,719				(6,190	)
Other, net		62,184				(3,836	)
Total other income (expenses), net		86,171				256
Income before income taxes		539,155				446,793
Income taxes		120,742				98,257
Net income	$	418,413			$	348,536
Basic earnings per share	$	2.93			$	2.38
Diluted earnings per share	$	2.92			$	2.37
Non-GAAP diluted earnings per share (1)	$	2.91			$	2.55
Basic shares outstanding		142,989				146,182
Diluted shares outstanding		143,411				146,899

(1)		See the reconciliation of non-GAAP financial measures in the table at the end of the press release.
(2)		During the first quarter of fiscal year 2027, we revised the presentation of restructuring expenses and amortization of acquired intangibles. Restructuring expenses, which were previously presented as a separate line item within operating expenses, are now classified within cost of sales, research and development expenses, and selling, general and administrative expenses based on the function of the associated costs. Amortization of acquired intangibles relating to cost of sales is no longer presented as a separate line item within cost of sales. Amortization of acquired intangibles relating to operating expenses are now classified within selling, general and administrative expenses. Prior-period amounts have been reclassified to conform to the current-period presentation. See reconciliation of reclassification of prior-period amounts at the end of the press release.

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RESMED INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets
(Unaudited; $ in thousands)

	September 30, 2026				June 30, 2026
Assets
Current assets:
Cash and cash equivalents	$	1,010,742			$	1,469,234
Accounts receivable, net		972,498				1,036,233
Inventories		1,021,358				945,805
Prepaid expenses and other current assets		504,323				416,081
Assets held for sale		—				457,386
Total current assets	$	3,508,921			$	4,324,739
Non-current assets:
Property, plant, and equipment, net	$	601,787			$	581,829
Operating lease right-of-use assets		196,688				153,167
Goodwill and other intangibles, net		3,350,913				3,362,312
Deferred income taxes and other non-current assets		553,502				543,903
Total non-current assets	$	4,702,890			$	4,641,211
Total assets	$	8,211,811			$	8,965,950
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	320,677			$	308,923
Accrued expenses		480,166				494,921
Operating lease liabilities, current		31,527				29,141
Deferred revenue		171,647				162,911
Income taxes payable		160,228				98,108
Short-term debt		159,975				259,950
Liabilities held for sale		—				41,156
Total current liabilities	$	1,324,220			$	1,395,110
Non-current liabilities:
Deferred revenue	$	174,209			$	170,951
Deferred income taxes		62,651				64,640
Operating lease liabilities, non-current		169,447				137,413
Other long-term liabilities		283,965				213,028
Long-term debt		249,629				399,415
Total non-current liabilities	$	939,901			$	985,447
Total liabilities	$	2,264,121			$	2,380,557
Stockholders’ equity
Common stock	$	764			$	764
Additional paid-in capital		2,133,418				2,190,614
Retained earnings		7,578,580				7,255,121
Treasury stock		(3,633,335	)			(2,778,591	)
Accumulated other comprehensive loss		(131,737	)			(82,515	)
Total stockholders’ equity	$	5,947,690			$	6,585,393
Total liabilities and stockholders’ equity	$	8,211,811			$	8,965,950

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Condensed Consolidated Statements of Cash Flows
(Unaudited; $ in thousands)

	Three Months Ended
	September 30, 2026				September 30, 2025
Cash flows from operating activities:
Net income	$	418,413			$	348,536
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		41,741				47,698
Amortization of right-of-use assets		10,090				9,971
Stock-based compensation costs		29,475				21,160
(Gain) loss attributable to equity method investments		(1,884	)			(1,489	)
(Gain) loss on equity investments		(5,719	)			6,190
(Gain) loss on divestment of subsidiaries		(61,784	)			—
Non-cash restructuring expenses		6,242				—
Changes in operating assets and liabilities:
Accounts receivable, net		64,839				29,970
Inventories		(71,764	)			(14,663	)
Prepaid expenses, net deferred income taxes and other current assets		(69,988	)			2,312
Accounts payable, accrued expenses, income taxes payable and other		62,761				7,636
Net cash provided by (used in) operating activities	$	422,422			$	457,321
Cash flows from investing activities:
Purchases of property, plant, and equipment		(48,740	)			(42,965	)
Patent registration and acquisition costs		(2,432	)			(2,814	)
Business acquisitions, net of cash acquired		(7,487	)			(522	)
Purchases of investments		(2,721	)			(2,173	)
Proceeds from divestment of subsidiaries, net of cash divested		450,820				—
Proceeds (payments) on maturity of foreign currency contracts		2,615				(4,104	)
Net cash provided by (used in) investing activities	$	392,055			$	(52,578	)
Cash flows from financing activities:
Proceeds from issuance of common stock, net		3,654				8,205
Purchases of treasury stock		(936,378	)			(150,010	)
Taxes paid related to net share settlement of equity awards		(325	)			(719	)
Repayment of borrowings		(250,000	)			—
Dividends paid		(94,954	)			(87,750	)
Net cash provided by (used in) financing activities	$	(1,278,003	)		$	(230,274	)
Effect of exchange rate changes on cash	$	5,034			$	(71	)
Net increase (decrease) in cash and cash equivalents		(458,492	)			174,398
Cash and cash equivalents at beginning of period		1,469,234				1,209,450
Cash and cash equivalents at end of period	$	1,010,742			$	1,383,848

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RESMED INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures
(Unaudited; $ in millions, except for per share amounts)

In addition to financial information prepared in accordance with GAAP, we use certain non-GAAP financial measures, such as non-GAAP core constant currency basis, non-GAAP gross profit, non-GAAP gross margin, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, and non-GAAP diluted earnings per share, in evaluating the performance of our business. We believe that these non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, can provide investors better insight when evaluating our performance from core operations and can provide more consistent financial reporting across periods. For these reasons, we use non-GAAP information internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. These non-GAAP financial measures should be considered in addition to, and not superior to or as a substitute for, GAAP financial measures. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Like all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP. Non-GAAP financial measures as presented herein may not be comparable to similarly titled measures used by other companies.

The non-GAAP financial measures included in this release and the accompanying tables (including within the tables that provide our detailed reconciliations to the corresponding GAAP financial measures) are adjusted for the impact of acquisitions and divestitures, amortization of acquired intangibles, restructuring and business transformation expenses, acquisition and divestment-related expenses, gains on divestment of subsidiaries, and associated tax effects, in addition to the tax effect of interest and penalties on tax refunds.

We have not included a reconciliation of forward-looking non-GAAP financial measures where we are unable to provide a meaningful or accurate calculation or estimation of reconciling items, and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

Non-GAAP measures are reconciled to their most directly comparable GAAP financial measures below (in millions, except percentages):

	Three Months Ended
	September 30, 2026			September 30, 2025
GAAP total revenue growth	6	%		9	%
Impact of:
Acquisitions/divestitures (A)	1			—
Effect of foreign currency fluctuations (A)	—			(1	)
Non-GAAP core constant currency total revenue growth	7	%		8	%

1. In order to provide a framework for assessing how our underlying businesses performed excluding the impact of the Noctrix acquisition and the divestiture of the MatrixCare business and the effect of foreign currency fluctuations, when applicable, we provide certain financial information on a “core constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.

RESMED INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures
(Unaudited; $ in millions, except for per share amounts)

	Three Months Ended September 30, 2026
	Gross profit			Research and development expenses			Selling, general, and administrative expenses			Income from operations			Total other income (loss), net			Income tax expense			Net income			Diluted earnings per share
GAAP	$	871		$	103		$	315		$	453		$	86		$	121		$	418		$	2.92
Amortization of acquired intangibles		5			—			(8	)		14			—			4			10			0.07
Restructuring and business transformation expenses		8			(1	)		(20	)		29			—			7			22			0.16
Acquisition and divestment related expenses		—			—			(10	)		10			—			—			10			0.07
Gain on divestment of subsidiary		—			—			—			—			(62	)		(7	)		(55	)		(0.38	)
Income tax effect of interest income on tax refunds		—			—			—			—			—			(12	)		12			0.07
Non-GAAP (A)	$	884		$	102		$	276		$	506		$	24		$	113		$	418		$	2.91

1. Totals may not add due to rounding.

	Three Months Ended September 30, 2025
	Gross profit			Research and development expenses			Selling, general, and administrative expenses			Income from operations			Total other income (loss), net			Income tax expense			Net income			Diluted earnings per share
GAAP	$	818		$	89		$	282		$	447		$	—		$	98		$	349		$	2.37
Amortization of acquired intangibles		8			—			(12	)		20			—			5			15			0.10
Restructuring and business transformation expenses		3			(2	)		(10	)		16			—			4			12			0.08
Non-GAAP (A)	$	829		$	87		$	259		$	482		$	—		$	108		$	375		$	2.55

1. Totals may not add due to rounding.

RESMED INC. AND SUBSIDIARIES

Revenue by Product and Region
(Unaudited; $ in millions)

	Three Months Ended
	September 30, 2026		(A)	September 30, 2025		(A)	% Change			Core Constant Currency (B)
Americas
Sleep Devices	$	436		$	405		8	%		6	%
Masks and other		397			361		10			10
Total Sleep	$	833		$	766		9			8
Life Support Devices		—			9		(94	)		(94	)
Total Americas Sleep and Breathing Health	$	833		$	775		8			7
Rest of World
Sleep Devices	$	280		$	250		12	%		13	%
Masks and other		143			128		12			11
Total Sleep	$	423		$	378		12			12
Life Support Devices		3			17		(79	)		(79	)
Total Rest of World Sleep and Breathing Health	$	426		$	395		8			8
Global revenue
Total Sleep Devices	$	716		$	655		9	%		9	%
Total Masks and other		540			489		10			10
Total Sleep	$	1,256		$	1,144		10			9
Total Life Support Devices		4			25		(84	)		(84	)
Total Sleep and Breathing Health	$	1,260		$	1,169		8			7
Residential Care Software		155			166		(7	)		5
Total	$	1,415		$	1,336		6	%		7	%

1. Totals and subtotals may not add due to rounding.
2. In order to provide a framework for assessing how our underlying businesses performed excluding the impact of the Noctrix acquisition and the divestiture of the MatrixCare business and the effect of foreign currency fluctuations, we provide certain financial information on a “core constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP. Removing the MatrixCare business that we’ve now divested, the remaining businesses of Residential Care Software – Brightree and MEDIFOX DAN – increased by 8%.

RESMED INC. AND SUBSIDIARIES

Reclassification of Prior-period Amounts
(Unaudited; $ in thousands)

During the first quarter of fiscal year 2027, we revised the presentation of restructuring expenses and amortization of acquired intangibles in our condensed consolidated statements of operations. Restructuring expenses, which were previously presented as a separate line item within operating expenses, are now classified within cost of sales, research and development expenses, and selling, general and administrative expenses based on the function of the associated costs. In connection with this change, we renamed “restructuring expenses” as “restructuring and business transformation expenses” to reflect the broader nature of the costs included within this category. Amortization of acquired intangibles relating to cost of sales is no longer presented as a separate line item within cost of sales. Amortization of acquired intangibles relating to operating expenses are now classified within selling, general and administrative expenses.

Prior-period amounts have been reclassified to conform to the current-period presentation. The reclassifications had no effect on previously reported income from operations, income before income taxes, net income, earnings per share or cash flows. The following table reconciles previously reported amounts to the revised presentation (in thousands):

	Three Months Ended September 30, 2025
	As previously reported				Restructuring and business transformation expenses				Amortization of acquired intangibles				As reclassified
Cost of sales – Sleep and Breathing Health products	$	456,118			$	3,156			$	1,420			$	460,694
Cost of sales – Residential Care Software		50,823				—				6,401				57,224
Cost of sales (exclusive of amortization shown separately below)	$	506,941			$	3,156			$	7,821			$	517,918
Amortization of acquired intangible assets – Sleep and Breathing Health products		1,420				—				(1,420	)			—
Amortization of acquired intangible assets – Residential Care Software		6,401				—				(6,401	)			—
Amortization of acquired intangible assets	$	7,821			$	—			$	(7,821	)		$	—
Total cost of sales	$	514,762			$	3,156			$	—			$	517,918
Gross profit	$	820,820			$	(3,156	)		$	—			$	817,664
Research and development		87,323				2,156				—				89,479
Selling, general, and administrative		259,194				10,498				11,956				281,648
Amortization of acquired intangible assets		11,956				—				(11,956	)			—
Restructuring expenses		15,810				(15,810	)			—				—
Total operating expenses	$	374,283			$	(3,156	)		$	—			$	371,127
Income from operations	$	446,537			$	—			$	—			$	446,537

RESMED INC. AND SUBSIDIARIES

Reclassification of Prior-period Amounts
(Unaudited; $ in thousands)

The following tables reconcile previously reported quarterly 2026 amounts to the revised presentation (in thousands):

	Three Months Ended December 31, 2025
	As previously reported				Restructuring and business transformation expenses				Amortization of acquired intangibles				As reclassified
Cost of sales – Sleep and Breathing Health products	$	484,792			$	994			$	1,415			$	487,201
Cost of sales – Residential Care Software		51,484				—				6,393				57,877
Cost of sales (exclusive of amortization shown separately below)	$	536,276			$	994			$	7,808			$	545,078
Amortization of acquired intangible assets – Sleep and Breathing Health products		1,415				—				(1,415	)			—
Amortization of acquired intangible assets – Residential Care Software		6,393				—				(6,393	)			—
Amortization of acquired intangible assets	$	7,808			$	—			$	(7,808	)		$	—
Total cost of sales	$	544,084			$	994			$	—			$	545,078
Gross profit	$	878,724			$	(994	)		$	—			$	877,730
Research and development		90,969				1,233				—				92,202
Selling, general, and administrative		278,396				3,708				11,764				293,868
Amortization of acquired intangible assets		11,764				—				(11,764	)			—
Restructuring expenses		5,935				(5,935	)			—				—
Total operating expenses	$	387,064			$	(994	)		$	—			$	386,070
Income from operations	$	491,660			$	—			$	—			$	491,660

RESMED INC. AND SUBSIDIARIES

Reclassification of Prior-period Amounts
(Unaudited; $ in thousands)

	Three Months Ended March 31, 2026
	As previously reported				Restructuring and business transformation expenses				Amortization of acquired intangibles				As reclassified
Cost of sales – Sleep and Breathing Health products	$	481,722			$	—			$	1,421			$	483,143
Cost of sales – Residential Care Software		50,855				—				6,429				57,284
Cost of sales (exclusive of amortization shown separately below)	$	532,577			$	—			$	7,850			$	540,427
Amortization of acquired intangible assets – Sleep and Breathing Health products		1,421				—				(1,421	)			—
Amortization of acquired intangible assets – Residential Care Software		6,429				—				(6,429	)			—
Amortization of acquired intangible assets	$	7,850			$	—			$	(7,850	)		$	—
Total cost of sales	$	540,427			$	—			$	—			$	540,427
Gross profit	$	890,979			$	—			$	—			$	890,979
Research and development		94,267				—				—				94,267
Selling, general, and administrative		285,655				—				11,247				296,902
Amortization of acquired intangible assets		11,247				—				(11,247	)			—
Restructuring expenses		—				—				—				—
Total operating expenses	$	391,169			$	—			$	—			$	391,169
Income from operations	$	499,810			$	—			$	—			$	499,810

RESMED INC. AND SUBSIDIARIES

Reclassification of Prior-period Amounts
(Unaudited; $ in thousands)

	Three Months Ended June 30, 2026
	As previously reported				Restructuring and business transformation expenses				Amortization of acquired intangibles				As reclassified
Cost of sales – Sleep and Breathing Health products	$	539,975			$	—			$	2,011			$	541,986
Cost of sales – Residential Care Software		54,155				—				6,290				60,445
Cost of sales (exclusive of amortization shown separately below)	$	594,130			$	—			$	8,301			$	602,431
Amortization of acquired intangible assets – Sleep and Breathing Health products		2,011				—				(2,011	)			—
Amortization of acquired intangible assets – Residential Care Software		6,290				—				(6,290	)			—
Amortization of acquired intangible assets	$	8,301			$	—			$	(8,301	)		$	—
Total cost of sales	$	602,431			$	—			$	—			$	602,431
Gross profit	$	861,216			$	—			$	—			$	861,216
Research and development		105,726				—				—				105,726
Selling, general, and administrative		296,283				—				10,499				306,782
Amortization of acquired intangible assets		10,499				—				(10,499	)			—
Restructuring expenses		—				—				—				—
Total operating expenses	$	412,508			$	—			$	—			$	412,508
Income from operations	$	448,708			$	—			$	—			$	448,708

For investors	For media
+1 858-221-3304	+1 619-510-1281
investorrelations@resmed.com	news@resmed.com

• Diluted earnings per share (“EPS”) of $0.95
• Invested $84 million in water and wastewater utility infrastructure during the nine months ended September 30, 2026
• Declared $0.38 common stock cash dividend, a 5.56% increase

ISELIN, N.J., Oct. 29, 2026 (GLOBE NEWSWIRE) — Middlesex Water Company (“Middlesex” or the “Company”) (NASDAQ: MSEX) today announced financial results for the third quarter ended September 30, 2026.

“Our strong third-quarter results reflect increased wholesale demand, higher customer consumption, and the continued execution of our regulatory strategy,” said Nadine Leslie, Chair, President, and Chief Executive Officer of Middlesex Water Company. “As we deliver solid earnings growth, we remain focused on investing in critical water and wastewater infrastructure, strengthening system reliability, and pursuing selective and sustainable growth under our MWC 2030 Vision to create long-term value for customers and shareholders.”

Third Quarter 2026 Results

Middlesex reported net income of $18.0 million and diluted EPS of $0.95, compared to net income of $14.0 million and diluted EPS of $0.77 for the same quarter in 2025.

Operating revenues for the quarter ended September 30, 2026, were $60.2 million, an increase of $6.1 million, compared to the same quarter last year. Operating revenues for the Middlesex System increased $4.7 million due to increased wholesale demand, customer consumption and base rate increases. Tidewater System revenues increased $1.2 million due to increased customer consumption, customer growth and rate increases. Non-regulated revenues increased $0.2 million, primarily due to higher supplemental contract services.

Operating expenses for the quarter ended September 30, 2026, were $37.9 million, an increase of approximately $1.6 million, compared to the same quarter last year. Operations and maintenance expenses increased $1.1 million primarily due to increases in variable production costs from higher customer demand and employee related costs, partially offset by higher capitalizable costs; and other taxes increased $0.5 million due to higher gross receipts taxes on higher revenues in the Middlesex System. Depreciation expense decreased $0.1 million from the same period in 2025 due to the implementation of depreciation rates from the study approved by the New Jersey Board of Public Utilities (“NJBPU”), partially offset by higher average utility plant in service.

Year-to-Date Results

Net income for the nine months ended September 30, 2026, was $43.4 million, a $9.2 million increase when compared to the same period in 2025. Diluted earnings per share were $2.31 and $1.90 for the nine months ended September 30, 2026, and 2025, respectively.

Operating revenues for the nine months ended September 30, 2026, were $165.3 million, an increase of approximately $17.6 compared to the same period in 2025. Middlesex System revenues increased $13.5 million due to increased wholesale demand, customer consumption and base rate increases. Tidewater System revenues increased $3.8 million due to increased customer consumption, customer growth, and rate increases. Non-regulated revenues increased $0.3 million, primarily due to higher supplemental contract services.

Operating expenses for the nine months ended September 30, 2026, increased $7.1 million compared to the same period in 2025. Operations and maintenance expenses increased $5.4 million primarily due to increases in allowance for credit loss reserve, employee related costs and variable production costs from higher customer demand, partially offset by higher capitalizable costs. Depreciation expense increased $0.5 million due to higher average utility plant in service, partially offset by the implementation of depreciation rates from the study approved by the NJBPU. Other taxes increased $1.3 million due to higher gross receipts taxes on higher revenues in the Middlesex System.

Selective and Sustainable Growth

Middlesex invested approximately $84 million to upgrade, replace and enhance the resiliency of its water and wastewater utility infrastructure during the nine months ended September 30, 2026, or approximately 67% of its planned 2026 annual investment of approximately $126 million.

In September 2026, Middlesex filed Resiliency and Environmental System Improvement Charge and Distribution System Improvement Charge petitions with the NJBPU requesting $0.8 million and $1.7 million of additional annual revenues, respectively.

In October 2026, the Delaware Public Service Commission approved the joint application by Tidewater Utilities, Inc. (“Tidewater”) and Mount Pleasant MHP, LLC (“Mount Pleasant”) for Tidewater to purchase the water utility assets of Mount Pleasant for $25 thousand. Mount Pleasant serves 39 customers in New Castle County, Delaware.

Dividend Declared, 5.56% Increase Announced

On October 23, 2026, the Company’s Board of Directors declared a fourth quarter cash dividend of $0.38 per common share, a 5.56% increase from the $0.36 per share dividend last declared in July 2026. This increase raises the annual dividend rate to $1.52 from $1.44 per share of common stock and marks Middlesex’s 54th consecutive year of dividend increases. The dividend at the new rate is payable December 1, 2026, to shareholders of record as of November 16, 2026. Middlesex has paid cash dividends each year since 1912.

About Middlesex Water Company

Middlesex Water Company (“Middlesex”) is one of the nation’s premier investor-owned water and wastewater utilities. Established in 1897, Middlesex is a trusted provider of life-sustaining services to more than half a million people in New Jersey and Delaware. The company focuses on employee engagement, operational excellence, superior customer experience, investment in infrastructure, and selective and sustainable growth to deliver value to our customers, investors, and the communities we serve.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws reflecting the current beliefs or expectations of Middlesex Water Company “Company” regarding its future performance, its financial condition, its strategic plans and cash flows, its results of operations as well as any other statements that do not directly relate to any historical or current facts. These statements reflect the Company’s current views and information currently available. This information is based on estimates, assumptions, and analysis that the Company believes, as of the date hereof, provide a reasonable basis for the information contained herein. Forward-looking statements can generally be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “foresees,” or the negative of those words or other comparable terminology. The Company intends that these statements be covered by the safe harbors created under those laws. Actual results, performance or achievements may differ materially from forward-looking statements, and the assumptions on which forward-looking statements are based. There can be no assurance that the information contained herein is reflective of future performance, and investors are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. Unless otherwise specified, all information contained in this press release speaks only as of the date hereof. The Company undertakes no duty to update or revise the information contained herein, whether as a result of new information, future events or otherwise.

Media Relations:
Rebecca Stenholm,Vice President, Communications and Corporate Affairs
rstenholm@middlesexwater.com
(908) 565-2491

Investor Relations:
Jennifer Ketschke, Director, Investor Relations and Treasury
InvestorRelations@middlesexwater.com
(732) 638-7523

MIDDLESEX WATER COMPANY CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands except per share amounts)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Operating Revenues	$60,205		$54,091		$165,276		$147,715
Operating Expenses:
Operations and Maintenance	24,871		23,738		73,282		67,913
Depreciation	6,865		6,941		20,662		20,171
Other Taxes	6,202		5,709		17,735		16,460
Total Operating Expenses	37,938		36,388		111,679		104,544
Operating Income	22,267		17,703		53,597		43,171
Other Income:
Allowance for Funds Used During Construction	860		432		2,194		1,218
Other Income, net	1,541		1,454		4,557		4,364
Total Other Income, net	2,401		1,886		6,751		5,582
Interest Charges	4,200		4,200		11,431		10,535
Income before Income Taxes	20,468		15,389		48,917		38,218
Income Taxes	2,440		1,431		5,514		4,001
Net Income	18,028		13,958		43,403		34,217
Preferred Stock Dividend Requirements	13		18		49		59
Earnings Applicable to Common Stock	$18,015		$13,940		$43,354		$34,158
Earnings per share of Common Stock:
Basic	$0.95		$0.77		$2.31		$1.90
Diluted	$0.95		$0.77		$2.31		$1.90
Average Number of
Common Shares Outstanding:
Basic	19,012		18,123		18,756		17,992
Diluted	19,026		18,154		18,778		18,023

FAIR LAWN, N.J., Oct. 29, 2026 (GLOBE NEWSWIRE) — Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the holding company for Columbia Bank (“Columbia”), reported net income of $5.2 million, or $0.02 per basic and diluted share, for the quarter ended September 30, 2026, as compared to $14.9 million, or $0.07 per basic and diluted share, for the quarter ended September 30, 2025. For the nine months ended September 30, 2026, the Company reported net income of $32.8 million, or $0.14 per basic and diluted share, as compared to $36.1 million, or $0.16 per basic and diluted share, for the nine months ended September 30, 2025.

For the quarter ended September 30, 2026, the Company reported core net income (a non-GAAP financial measure) of $40.6 million, or $0.16 per basic and diluted share, as compared to $15.4 million, or $0.07 per basic and diluted share for the quarter ended September 30, 2025. For the nine months ended September 30, 2026, the Company reported core net income of $70.6 million, or $0.30 per basic and diluted share, as compared to $37.1 million, or $0.17 per basic and diluted share for the nine months ended September 30, 2025. See the “Reconciliation of GAAP to Non-GAAP Financial Measures” included in this release, detailing non-core items, related core net income, per share amounts and select performance ratios.

Mr. Thomas J. Kemly, President and Chief Executive Officer commented: “During the quarter, our team successfully completed the second-step conversion offering and simultaneous acquisition of Northfield Bancorp, Inc. (“Northfield”), and executed a series of transactions to improve earnings, reduce interest rate and credit risk on the balance sheet by selling securities and delinquent, nonperforming and criticized and classified assets, as well as, materially reducing our exposure to New York City rent regulated multifamily loans.”

Mr. Kemly noted, “In addition, we continue to attract experienced commercial bankers and other professionals to grow our Company and deliver premier lending, deposit and treasury solutions to deploy our capital and to capture current market share in the markets we serve. We continue to believe that our approach to community relationship banking, and our disciplined focus on capital deployment will drive strong earnings growth and stockholder returns.”

Financial Highlights

• Total assets increased $5.4 billion to $17.6 billion at September 30, 2026 from $12.2 billion at June 30, 2026, primarily due to the acquisition of Northfield, and the second-step conversion stock offering.
• Return on average assets for the quarter ended September 30, 2026 decreased to 0.13% as compared to 0.55% for the quarter ended September 30, 2025, while core return on average assets for the quarter ended September 30, 2026 increased to 0.97% as compared to 0.56% for the quarter ended September 30, 2025.
• Net interest margin of 2.96% for the quarter ended September 30, 2026 increased by 67 basis points compared to 2.29% for the quarter ended September 30, 2025, and increased 52 basis points compared to 2.44% for the quarter ended June 30, 2026.
• Total gross loans increased $3.1 billion, or 37.2%, for September 30, 2026, as compared to June 30, 2026, due primarily to $3.2 billion in loans acquired in the Northfield acquisition. Commercial real estate, construction and commercial business loans, gross, increased $899.8 million, or 23.0% for September 30, 2026, as compared to June 30, 2026, primarily due to the Northfield acquisition.
• Total deposits increased $3.1 billion, or 32.2%, for September 30, 2026, as compared to June 30, 2026, mainly due to $3.8 billion in deposits acquired in the Northfield acquisition, partially offset by $970.1 million in stock subscription proceeds that were transferred to stockholders’ equity. Non-interest-bearing deposits increased $771.6 million, or 49.6%, as compared to June 30, 2026, mainly due to $747.9 million in deposits acquired in the Northfield acquisition.
• The Company’s Board of Directors declared a quarterly cash dividend of $0.05 per share to be paid on November 25, 2026, to stockholders of record as of November 10, 2026.

Significant Transactions Impacting the Three Months Ended September 30, 2026

The Company’s growth, financial condition and earnings for the quarter ended September 30, 2026 were materially impacted by a series of transactions including:

• Completion of its second-step conversion stock offering and raising approximately $1.6 billion of common stockholders’ equity net of underwriting and transactional expenses. Total shares outstanding following completion of the stock offering and Northfield acquisition were 269,539,984.
• The acquisition of Northfield on July 20, 2026, added approximately $5.2 billion in total assets, $3.2 billion in loans receivable and $202.3 million in loans held-for-sale, $1.2 billion in securities, $646.4 million in borrowings, and $3.8 billion in deposits, inclusive of purchase accounting adjustments. The Company recorded a bargain purchase gain of $25.7 million, net of tax, and a core deposit intangible $76.2 million during the quarter ended September 30, 2026. Merger-related expenses recognized for the quarter ended September 30, 2026 were $30.6 million. The Company currently plans to complete the core system conversion during the first quarter of 2027.
• Purchase of $1.1 billion of debt securities designated as both available for sale and held to maturity, with a weighted average yield of 4.80% and a duration of approximately 2.0 years. Approximately one-third of these debt securities purchased have coupons that adjust monthly. Furthermore, the Company repaid and prepaid $353.5 million of borrowings with a weighted average cost of 3.97%.
• The sale of $650.6 million of Northfield debt securities available for sale resulting in no gain or loss, as the securities were marked-to-market as part of purchase accounting adjustments. The proceeds from the sales were reinvested in debt securities with a similar yield, but with improved cash flow stability in various rate scenarios.
• The sale of $254.7 million of debt securities available for sale at a net loss of $40.8 million. With the proceeds, the Company purchased $221.2 million of debt securities. The yield on the securities purchased was 445 basis points higher than the securities sold, with lower average lives and duration, and the Company currently expects to earn approximately $9.3 million in additional interest income over the next twelve months as a result of this transaction.
• Sold $55.6 million of commercial real estate and multifamily loans originated by Northfield that would be criticized or classified assets under the Company’s risk rating system. This transaction resulted in a loss on sale of loans of $1.1 million for the quarter ended September 30, 2026.
• Entered into a letter of intent to sell loans of $246.2 million of unpaid principal, collateralized by New York City rent regulated multifamily properties originated by Northfield. The loans selected for sale were deemed to have the highest credit risk based upon the percentage of units that were rent regulated, the estimated loan to value or the debt service coverage. This transaction resulted in a loss on loans of $5.9 million for the quarter ended September 30, 2026. The sale closed on October 27, 2026. The Company’s remaining exposure to New York City rent regulated multifamily loans was $164.6 million, or less than 1.0% of total assets at October 27, 2026.
• Entered into a letter of intent to sell $9.1 million of delinquent and nonperforming residential real estate loans originated by Columbia Bank. The Company recorded a loss of approximately $900,000 related to the transaction. This sale closed in October 2026.
   

Results of Operations for the Three Months Ended September 30, 2026 and September 30, 2025

Net income of $5.2 million was recorded for the quarter ended September 30, 2026, a decrease of $9.6 million compared to net income of $14.9 million for the quarter ended September 30, 2025. The decrease in net income was primarily attributable to a $23.8 million decrease in non-interest income and a $52.4 million increase in non-interest expense, partially offset by a $57.0 million increase in net interest income, a $512,000 decrease in provision for credit losses and a $9.1 million decrease in income tax expense.

Net interest income was $114.4 million for the quarter ended September 30, 2026, an increase of $57.0 million, or 99.3%, from $57.4 million for the quarter ended September 30, 2025. The increase in net interest income was primarily attributable to a $72.2 million increase in interest income partially offset by a $15.2 million increase in interest expense on deposits and borrowings. The increase in interest income was primarily due to an increase in the average balance of total interest-earning assets coupled with an increase in average yields on loans, while the increase in interest expense was primarily due to an increase in the average balance of both deposits and borrowings. Accretion of loan yield adjustments for the quarter ended September 30, 2026 totaled $6.8 million. Prepayment penalties, which are included in interest income on loans, totaled $771,000 for the quarter ended September 30, 2026, compared to $767,000 for the quarter ended September 30, 2025.

The average yield on loans for the quarter ended September 30, 2026 increased 33 basis points to 5.37%, as compared to 5.04% for the quarter ended September 30, 2025. Interest income on loans increased due to an increase in both the average balance and yield on loans mainly related to the Northfield acquisition. The average yield on securities for the quarter ended September 30, 2026 increased 55 basis points to 3.96%, as compared to 3.41% for the quarter ended September 30, 2025. The average yield on other interest-earning assets for the quarter ended September 30, 2026 decreased 137 basis points to 3.87%, as compared to 5.24% for the quarter ended September 30, 2025, mainly due to an increase in the average balance of other interest-earning assets invested in lower earning interest-bearing cash accounts, coupled with a 91 basis point decrease in the dividend rate received on Federal Home Loan Bank stock.

Total interest expense was $78.3 million for the quarter ended September 30, 2026, an increase of $15.2 million, or 24.2%, from $63.0 million for the quarter ended September 30, 2025. The increase in interest expense was primarily attributable to increases in the average balance of interest-bearing deposits and borrowings partially offset by a 31 basis point decrease in the average cost of interest-bearing deposits coupled with a 17 basis point decrease in the average cost of borrowings. Interest expense on deposits increased $13.3 million, or 26.8%, primarily due to the increase in the average balances as a result of the Northfield acquisition during the quarter ended September 30, 2026. Interest expense on borrowings increased $2.0 million, or 14.7%, for the quarter ended September 30, 2026 as compared to the quarter ended September 30, 2025 due to an increase in the average balance of borrowings, partially offset by a decrease in the average cost of borrowings.

The Company’s net interest margin for the quarter ended September 30, 2026 increased 67 basis points to 2.96% when compared to 2.29%, for the quarter ended September 30, 2025, predominately due to a decrease in the average cost of interest-bearing liabilities. The weighted average yield on interest-earning assets increased 18 basis point to 4.99% for the quarter ended September 30, 2026 as compared to 4.81% for the quarter ended September 30, 2025. The average cost of interest-bearing liabilities decreased 33 basis points to 2.81% for the quarter ended September 30, 2026 as compared to 3.14% for the quarter ended September 30, 2025.

The provision for credit losses on loans for the quarter ended September 30, 2026 was $1.8 million, a decrease of $512,000, or 21.8%, from $2.3 million for the quarter ended September 30, 2025. The decrease in the provision for credit losses was primarily attributable to lower net charge-offs, partially offset by an increase in loan balances.

Non-interest (loss) income was $(13.9) million for the quarter ended September 30, 2026, a decrease of $23.8 million, or 241.0%, from $9.9 million for the quarter ended September 30, 2025, mainly due to a $40.8 million increase in the loss on securities transactions coupled with a $7.6 million loss on transfer of loans to held-for-sale as previously discussed. These decreases were partially offset by a bargain purchase gain of $25.7 million, net of tax, related to the Northfield acquisition.

Non-interest expense was $97.5 million for the quarter ended September 30, 2026, an increase of $52.4 million, or 116.3%, from $45.1 million for the quarter ended September 30, 2025. The increase was primarily attributable to an increase in compensation and employee benefits expense of $14.2 million, an increase in occupancy expense of $2.6 million, an increase in merger-related expenses of $30.6 million, and an increase in amortization of intangible assets of $2.9 million due to the Northfield acquisition. The increase in compensation and employee benefits expense was due to an increase in the number of employees and related employee benefits due to the Northfield acquisition and annual merit increases. The increase in occupancy expense was due to the costs related to the Northfield acquisition.

An income tax benefit of $4.1 million was recorded for the quarter ended September 30, 2026, a decrease of $9.1 million, as compared to income tax expense of $5.0 million for the quarter ended September 30, 2025, mainly due to lower pre-tax income partially offset by non-deductible merger-related expenses. The Company’s effective tax rate was 16.7% and 25.0% for the quarters ended September 30, 2026 and 2025, respectively.

Results of Operations for the Nine Months Ended September 30, 2026 and September 30, 2025

Net income of $32.8 million was recorded for the nine months ended September 30, 2026, a decrease of $3.3 million, or 9.0%, compared to net income of $36.1 million for the nine months ended September 30, 2025. The decrease in net income was primarily attributable to a $24.8 million decrease in non-interest income, and a $60.6 million increase in non-interest expense partially offset by a $76.3 million increase in net interest income, a $645,000 decrease in provision for credit losses, and a $5.2 million decrease in income tax expense.

Net interest income was $237.7 million for the nine months ended September 30, 2026, an increase of $76.3 million, or 47.3%, from $161.4 million for the nine months ended September 30, 2025. The increase in net interest income was primarily attributable to a $84.7 million increase in interest income partially offset by a $8.4 million increase in interest expense on deposits and borrowings. The increase in interest income was primarily due to an increase in the average balance of loans coupled with an increase in the average yield on loans. Accretion of loan yield adjustments for the nine months ended September 30, 2026 totaled $6.8 million, mainly related to the Northfield acquisition. Prepayment penalties, which are included in interest income on loans, totaled $1.5 million for the nine months ended September 30, 2026, compared to $1.6 million for the nine months ended September 30, 2025.

The average yield on loans for the nine months ended September 30, 2026 increased 20 basis points to 5.16%, as compared to 4.96% for the nine months ended September 30, 2025. Interest income on loans increased due to an increase in both the average balance and yield on loans. The average yield on securities for the nine months ended September 30, 2026 increased 23 basis points to 3.70%, as compared to 3.47% for the nine months ended September 30, 2025. The average yield on other interest-earning assets for the nine months ended September 30, 2026 decreased 126 basis points to 4.13%, as compared to 5.39% for the nine months ended September 30, 2025, mainly due to an increase in the average balance of other interest-earning assets invested in lower earning interest-bearing cash accounts, coupled with a lower dividend rate received on Federal Home Loan Bank stock.

Total interest expense was $196.1 million for the nine months ended September 30, 2026, an increase of $8.4 million, or 4.5%, from $187.7 million for the nine months ended September 30, 2025. The increase in interest expense was primarily attributable to an increase in the average balances of interest-bearing deposits and borrowings, partially offset by a 30 basis point decrease in the average cost of interest-bearing deposits coupled with a 27 basis point decrease in the average cost of borrowings mainly related to the Northfield acquisition. Interest expense on deposits increased $6.2 million, or 4.2%, for the nine months ended September 30, 2026 as compared to the nine months ended September 30, 2025, due to an increase in the average balance of deposits, while interest expense on borrowings increased $2.2 million, or 5.7%, for the nine months ended September 30, 2026 as compared to the nine months ended September 30, 2025, due to the increase in the average balance of borrowings.

The Company’s net interest margin for the nine months ended September 30, 2026 increased 46 basis points to 2.66% when compared to 2.20% for the nine months ended September 30, 2025, due to an increase in the average yield on interest-earning assets coupled with a decrease in the average cost of interest-bearing liabilities. The weighted average yield on interest-earning assets increased 10 basis points to 4.85% for the nine months ended September 30, 2026 as compared to 4.75% for the nine months ended September 30, 2025. The average cost of interest-bearing liabilities decreased 30 basis points to 2.87% for the nine months ended September 30, 2026 as compared to 3.17% for the nine months ended September 30, 2025.

The provision for credit losses for the nine months ended September 30, 2026 was $7.1 million, a decrease of $645,000, or 8.3% from $7.7 million for the nine months ended September 30, 2025. The decrease in the provision for credit losses was primarily attributable to a decrease in net charge-offs, which totaled $2.9 million for the nine months ended September 30, 2026 as compared to $5.2 million for the nine months ended September 30, 2025, partially offset by an increase in loan balances.

Non-interest income was $3.7 million for the nine months ended September 30, 2026, a decrease of $24.8 million, or 87.1%, from $28.5 million for the nine months ended September 30, 2025. The decrease was primarily attributable to a $40.8 million increase in the loss on securities transactions, coupled with a $7.7 million increase in the loss on transfer of loans. These decreases were partially offset by a bargain purchase gain of $25.7 million, net of tax, resulting from the Northfield acquisition, a $2.7 million increase in bank-owned life insurance due to income from the acquisition of such policies in the Northfield acquisition, death benefit claims in the 2026 period, and income related to the transition and exchange into higher yielding bank-owned life insurance policies.

Non-interest expense was $194.4 million for the nine months ended September 30, 2026, an increase of $60.6 million, or 45.3%, from $133.8 million for the nine months ended September 30, 2025. The increase was primarily attributable to an increase in compensation and employee benefits expense of $19.8 million, an increase in occupancy expense of $4.0 million, an increase in data processing and software expenses of $2.7 million and an increase in merger-related expenses of $33.3 million, partially offset by a decrease of $2.6 million in professional fees. The increase in compensation and employee benefits expense was due to an increase in the number of employees and related employee benefits due to the Northfield acquisition and annual merit increases. The increase in occupancy expense was due to the costs related to the Northfield branches acquired.

Income tax expense was $7.0 million for the nine months ended September 30, 2026, a decrease of $5.2 million, as compared to income tax expense of $12.3 million for the nine months ended September 30, 2025, mainly due to a decrease in pre-tax income. The Company’s effective tax rate was 49.7% and 25.4% for the nine months ended September 30, 2026 and 2025, respectively. The increase in the 2026 effective tax rate was due primarily to non-deductible merger-related expenses.

Balance Sheet Summary

Total assets increased $6.5 billion, or 59.4%, to $17.6 billion at September 30, 2026 from $11.0 billion at December 31, 2025. The increase in total assets was primarily attributable to increases in cash and cash equivalents of $118.0 million, debt securities available for sale of $1.7 billion, debt securities held to maturity of $516.0 million, loans held-for-sale of $211.4 million, loans receivable, net, of $3.4 billion, bank-owned life insurance of $191.8 million and other assets of $157.6 million, mainly due to assets acquired in the Northfield merger.

Cash and cash equivalents increased $118.0 million, or 34.6%, to $458.8 million at September 30, 2026 from $340.8 million at December 31, 2025. The increase was primarily attributable to proceeds raised through the offering and cash and cash equivalents of $95.2 million acquired in the Northfield acquisition.

Debt securities available for sale increased $1.7 billion, or 151.0%, to $2.8 billion at September 30, 2026 from $1.1 billion at December 31, 2025. The increase was primarily attributable to $1.2 billion of securities acquired in the Northfield acquisition, and purchases of $1.7 billion of securities, consisting primarily of U.S. government obligations and mortgage-backed securities which were purchased with proceeds from the second-step conversion offering. These increases were partially offset by sales of securities with an amortized cost of $643.3 million which were acquired in the Northfield acquisition and the sale of an additional $213.9 million of seasoned securities sold as part of a balance sheet repositioning transaction, which resulted in a realized loss of $40.8 million for the quarter ended September 30, 2026. The Company sold predominantly fixed rate, low-yielding debt securities and used the proceeds to repay high costing borrowings acquired from Northfield and purchase higher-yielding debt securities to improve the net interest rate margin in the future. The increase in debt securities available for sale also included a decrease of $33.9 million in the unrealized loss on securities available for sale.

Debt securities held to maturity increased $516.0 million, or 130.2%, to $912.2 million at September 30, 2026 from $396.2 million at December 31, 2025. The increase was attributable to purchases of securities of $542.8 million, consisting primarily of U.S. government obligations and mortgage-backed securities, partially offset by maturities on securities of $14.9 million, and repayments on securities of $13.1 million.

Loans held-for-sale increased to $211.4 million, at September 30, 2026 from zero at December 31, 2025. A portion of the loans held-for-sale acquired in the Northfield acquisition along with $9.1 million of residential real estate loans originated by Columbia Bank were transferred to loans held-for-sale at fair value and were subsequently sold in October 2026.

Loans receivable, net, increased $3.4 billion, or 41.9%, to $11.7 billion at September 30, 2026 from $8.2 billion at December 31, 2025, primarily due to $3.2 billion of loans acquired in the Northfield acquisition excluding loans held-for sale. One-to-four family real estate loans, multifamily loans, commercial real estate loans, construction loans, commercial business loans and home equity loans and advances increased $84.0 million, $2.0 billion, $774.9 million, $33.1 million, $253.3 million, and $193.8 million, respectively. The allowance for credit losses for loans increased $51.4 million to $118.6 million at September 30, 2026 from $67.2 million at December 31, 2025, primarily due to the Northfield acquisition and organic loan growth during the nine months ended September 30, 2026. As part of the merger with Northfield, the Company acquired $3.5 billion in loans, net of purchase accounting adjustments related to interest rates. The allowance for credit losses increased due to the day 1 Northfield CECL adjustment of $47.1 million recorded as part of the Northfield acquisition.

Bank-owned life insurance increased $191.8 million, or 67.7%, to $474.9 million at September 30, 2026 from $283.1 million at December 31, 2025, as the Company acquired $187.1 million of bank-owned life insurance policies in the Northfield acquisition, and $8.7 million of income was recognized from bank-owned life insurance for the nine months ended September 30, 2026.

Other assets increased $157.6 million, or 47.0%, to $493.3 million at September 30, 2026 from $335.7 million at December 31, 2025 primarily due to $134.2 million in other assets acquired as part of the Northfield acquisition, an increase in net pension assets of $27.0 million, and an increase of $16.6 million in swap contracts.

Total liabilities increased $4.5 billion, or 46.0%, to $14.4 billion at September 30, 2026 from $9.9 billion at December 31, 2025. The increase was primarily attributable to an increase in total deposits of $4.1 billion, primarily due to the addition of Northfield deposits, an increase in borrowings of $312.8 million, and an increase in accrued expenses and other liabilities of $87.4 million. The increase in total deposits consisted of increases in non-interest-bearing demand deposits, interest-bearing demand deposits, money market accounts, savings and club accounts, and certificates of deposits of $810.1 million, $1.4 billion, $254.3 million, $767.6 million and $868.5 million respectively. The increase in each category of deposits largely reflected the impact of deposits acquired from Northfield while also reflecting an increase related to the impact of continuing business development and competitive pricing strategies. The increase in accrued expenses and other liabilities included $67.0 million acquired from Northfield, which primarily consisted of lease liabilities, accrued expenses and benefit plan related liabilities, and an increase in collateral pledged for interest rate swaps. The $312.8 million increase in borrowings was driven by borrowings acquired from Northfield which included a net increase in short-term borrowings of $175.0 million, coupled with new long-term borrowings of $161.8 million, and long-term subordinated debentures assumed from Northfield totaling $62.0 million, partially offset by repayments of $82.0 million in maturing long-term borrowings. Included in these borrowings were $646.4 million in borrowings assumed in the Northfield acquisition, of which $195.6 were subsequently prepaid, resulting in a $196,000 loss on extinguishment of debt.

Total stockholders’ equity increased $2.0 billion, or 172.7%, with a balance of $3.2 billion at September 30, 2026 from $1.2 billion and December 31, 2025. The increase in stockholders’ equity reflected $1.6 billion in capital stock issued in the Company’s second-step conversion coupled with $404.3 million in capital stock issued in conjunction with the acquisition of Northfield. The increase also included net income of $32.8 million, partially offset by dividends declared and paid of $12.9 million.

Asset Quality

The Company’s non-performing loans at September 30, 2026 excluding purchased credit deteriorated (“PCD”) loans, totaled $36.5 million, or 0.31% of total gross loans, as compared to $38.0 million, or 0.46% of total gross loans, at December 31, 2025. The $1.5 million decrease in non-performing loans was primarily attributable to a decrease in non-performing one-to-four family loans of $5.4 million. This decrease was mainly due to the transfer of $4.9 million of non-performing one-to-four family loans to loans held-for-sale in September 2026, which were sold in October 2026, a decrease in non-performing commercial business loans of $2.8 million, and a decrease in non-performing construction loans of $4.1 million. The decrease in non-performing construction loans was due to one loan of $5.9 million being transferred to other real estate owned in March 2026 and subsequently sold in September 2026. These decreases were partially offset by an increase of $11.6 million in commercial real estate loans, which included a $10.6 million loan on a six-story mixed use building, located in Philadelphia, Pennsylvania, which contains apartments and commercial/storage space designated as non-performing during the 2026 period. Non-performing assets as a percentage of total assets totaled 0.21% at September 30, 2026, as compared to 0.34% at December 31, 2025.

For the quarter ended September 30, 2026, net charge-offs totaled $1.5 million, as compared to net charge-offs of $1.2 million for the quarter ended September 30, 2025. For the nine months ended September 30, 2026, net charge-offs totaled $2.9 million, as compared to net charge-offs of $5.2 million for the nine months ended September 30, 2025. Charge-offs for the nine months ended September 30, 2025 included $3.2 million in charge-offs related to PCD equipment finance loans purchased in May 2025.

The Company’s allowance for credit losses on loans was $118.6 million, or 1.02% of total gross loans, at September 30, 2026, compared to $67.2 million, or 0.82% of total gross loans, at December 31, 2025. The increase in the allowance for credit losses for loans was primarily due to the day 1 Northfield CECL adjustment of $47.1 million recorded as part of the Northfield acquisition.

About Columbia Financial, Inc.

The consolidated financial results include the accounts of Columbia Financial, Inc., its wholly-owned subsidiary Columbia Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries. Columbia Financial, Inc. is a Maryland corporation organized as Columbia Bank’s parent stock holding company. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey that operates more than 100 full-service banking offices and offers traditional financial services to consumers and businesses in its market area, including select counties in New Jersey, and Brooklyn and Staten Island New York.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “projects,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on the Company’s business activities; changes in interest rates, higher inflation and their impact on national and local economic conditions; changes in monetary and fiscal policies of the U.S. Treasury, the Board of Governors of the Federal Reserve System and other governmental entities; the impact of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the impact of changing political conditions or federal government shutdowns; the impact of legal, judicial and regulatory proceedings or investigations, competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which the Company operates, including changes that adversely affect a borrowers’ ability to service and repay the Company’s loans; the effect of acts of terrorism, war or pandemics, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; changes in the value of securities in the Company’s portfolio; the success of the balance sheet repositioning transactions we implemented during the third quarter of 2026; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and securities; legislative changes and changes in government regulation; changes in accounting standards and practices; the risk that goodwill and intangibles recorded in the Company’s consolidated financial statements will become impaired; cyber-attacks, computer viruses and other technological risks that may breach the security of our systems and allow unauthorized access to confidential information; the inability of third party service providers to perform; demand for loans in the Company’s market area; the Company’s ability to attract and maintain deposits and effectively manage liquidity; risks related to the implementation of acquisitions, dispositions, and restructurings; and the risk that the Company may not be successful in the implementation of its business strategy, or its integration of acquired financial institutions and businesses.

In addition, with respect to the Company’s recently completed acquisition of Northfield Bancorp (“Northfield”), such risks, uncertainties and assumptions, include, among others, the following: (i) the possibility that the anticipated benefits of the proposed transaction, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which the combined company operates; (ii) the possibility that the integration of the two companies may be more difficult, time-consuming or costly than expected; and (iii) the impact of purchase accounting with respect to the proposed transaction, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine their fair value and credit marks. Forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, those set forth in Item 1A of the Company’s Annual Report on Form 10-K and those set forth in the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, the Company’s actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as required by law.

Non-GAAP Financial Measures

Reported amounts are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). This press release also contains certain supplemental non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. Specifically, the Company provides measures based on what it believes are its “core” operating results, and relevant performance ratios on a consistent basis and excludes material non-routine items which affect the GAAP reporting of results of operations, and relevant performance ratios. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s core financial results for the periods presented. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

The Company also provides measurements and ratios based on tangible stockholders’ equity. These measures are commonly utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors.

A reconciliation of GAAP to non-GAAP financial measures are included at the end of this press release. See “Reconciliation of GAAP to Non-GAAP Financial Measures”.

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Consolidated Statements of Financial Condition (In thousands)
	September 30,			December 31,
	2026			2025
Assets	(Unaudited)
Cash and due from banks	$	458,686		$	340,695
Short-term investments		112			111
Total cash and cash equivalents		458,798			340,806
Debt securities available for sale, at fair value		2,816,204			1,122,017
Debt securities held to maturity, at amortized cost (fair value of $853,439, and $367,289 at September 30, 2026 and December 31, 2025, respectively)		912,183			396,233
Equity securities, at fair value		5,440			6,802
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		149,572			64,604
Loans held-for-sale, at fair value		211,410			—
Loans receivable		11,786,760			8,292,010
Less: allowance for credit losses		118,594			67,201
Loans receivable, net		11,668,166			8,224,809
Accrued interest receivable		67,735			41,490
Office properties and equipment, net		113,119			82,985
Bank-owned life insurance		474,888			283,094
Goodwill and intangible assets		191,703			120,302
Other assets		493,275			335,651
Total assets	$	17,562,493		$	11,018,793
Liabilities and Stockholders’ Equity
Liabilities:
Deposits	$	12,561,523		$	8,444,079
Borrowings		1,496,279			1,183,472
Advance payments by borrowers for taxes and insurance		67,295			45,792
Accrued expenses and other liabilities		272,112			184,722
Total liabilities		14,397,209			9,858,065
Stockholders’ equity:
Total stockholders’ equity		3,165,284			1,160,728
Total liabilities and stockholders’ equity	$	17,562,493		$	11,018,793

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Consolidated Statements of Income (In thousands, except per share data)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Interest income:	(Unaudited)								(Unaudited)
Loans receivable	$	152,636			$	103,792			$	358,128			$	298,548
Debt securities available for sale and equity securities		25,403				9,858				46,941				29,901
Debt securities held to maturity		4,879				2,886				10,486				8,619
Federal funds and interest-earning deposits		7,738				2,623				13,425				7,924
Federal Home Loan Bank and Federal Reserve Bank stock dividends		2,001				1,258				4,799				4,079
Total interest income		192,657				120,417				433,779				349,071
Interest expense:
Deposits		62,840				49,569				155,285				149,058
Borrowings		15,436				13,462				40,803				38,599
Total interest expense		78,276				63,031				196,088				187,657
Net interest income		114,381				57,386				237,691				161,414
Provision for credit losses		1,832				2,344				7,100				7,745
Net interest income after provision for credit losses		112,549				55,042				230,591				153,669
Non-interest (loss) income:
Demand deposit account fees		3,027				2,037				7,164				5,940
Bank-owned life insurance		3,768				2,133				8,682				5,982
Title insurance fees		714				684				2,201				2,191
Loan fees and service charges		1,103				1,570				4,088				4,370
(Loss) gain on securities transactions		(40,849	)			—				(40,849	)			336
Change in fair value of equity securities		(447	)			714				(1,429	)			1,294
(Loss) gain on sale of loans		(7,567	)			401				(6,792	)			901
Bargain purchase gain, net of tax		25,689				—				25,689				—
(Loss) gain on sale of other real estate owned		(1,770	)			—				(1,770	)			281
Other non-interest income		2,424				2,328				6,685				7,216
Total non-interest (loss) income		(13,908	)			9,867				3,669				28,511
Non-interest expense:
Compensation and employee benefits		43,462				29,248				106,524				86,764
Occupancy		8,663				6,055				22,242				18,208
Federal deposit insurance premiums		2,331				1,783				5,743				5,402
Advertising		915				512				2,228				1,606
Professional fees		2,377				2,590				5,995				8,624
Data processing and software expenses		5,748				4,457				15,366				12,621
Merger-related expenses		30,641				—				33,283				—
Loss on extinguishment of debt		196				—				196				—
Amortization of intangible assets		3,489				560				4,611				1,592
Other non-interest expense, net		(317	)			(119	)			(1,779	)			(980	)
Total non-interest expense		97,505				45,086				194,409				133,837
Income before income tax (benefit) expense		1,136				19,823				39,851				48,343
Income tax (benefit) expense		(4,095	)			4,955				7,034				12,270
Net income	$	5,231			$	14,868			$	32,817			$	36,073
Earnings per share-basic	$	0.02			$	0.07			$	0.14			$	0.16
Earnings per share-diluted	$	0.02			$	0.07			$	0.14			$	0.16
Weighted average shares outstanding-basic (1)		250,984,115				224,468,686				232,335,137				224,275,297
Weighted average shares outstanding-diluted (1)		251,662,369				224,468,686				232,571,404				224,275,297
(1) As result of the second-step conversion, all prior period share information has been subsequently revised to reflect the 2.2000 exchange ratio.

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Average Balances/Yields
	For the Three Months Ended September 30,
		2026										2025
	Average Balance				Interest and Dividends			Yield / Cost			Average Balance				Interest and Dividends			Yield / Cost
	(Dollars in thousands)
Interest-earnings assets:
Loans	$	11,286,773			$	152,636		5.37	%		$	8,165,132			$	103,792		5.04	%
Securities		3,031,705				30,282		3.96	%			1,481,219				12,744		3.41	%
Other interest-earning assets		999,680				9,739		3.87	%			293,903				3,881		5.24	%
Total interest-earning assets		15,318,158				192,657		4.99	%			9,940,254				120,417		4.81	%
Non-interest-earning assets		1,217,777										871,010
Total assets	$	16,535,935									$	10,811,264
Interest-bearing liabilities:
Interest-bearing demand	$	3,142,993			$	16,824		2.12	%		$	1,904,963			$	10,685		2.23	%
Money market accounts		1,640,021				8,829		2.14	%			1,369,986				9,763		2.83	%
Savings and club deposits		1,239,886				2,742		0.88	%			640,834				1,056		0.65	%
Certificates of deposit		3,554,073				34,445		3.85	%			2,838,737				28,065		3.92	%
Total interest-bearing deposits		9,576,973				62,840		2.60	%			6,754,520				49,569		2.91	%
FHLB advances		1,404,011				14,471		4.09	%			1,213,787				13,317		4.35	%
Subordinated notes		45,753				834		7.23	%			—				—		—	%
Junior subordinated debentures		7,070				131		7.35	%			7,051				145		8.16	%
Total borrowings		1,456,834				15,436		4.20	%			1,220,838				13,462		4.37	%
Total interest-bearing liabilities		11,033,807			$	78,276		2.81	%			7,975,358			$	63,031		3.14	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,421,615										1,489,014
Other non-interest-bearing liabilities		306,139										219,406
Total liabilities		13,761,561										9,683,778
Total stockholders’ equity		2,774,374										1,127,486
Total liabilities and stockholders’ equity	$	16,535,935									$	10,811,264
Net interest income					$	114,381									$	57,386
Interest rate spread								2.18	%									1.67	%
Net interest-earning assets	$	4,284,351									$	1,964,896
Net interest margin								2.96	%									2.29	%
Ratio of interest-earning assets to interest-bearing liabilities		138.83	%									124.64	%

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Average Balances/Yields
	For the Nine Months Ended September 30,
		2026										2025
	Average Balance				Interest and Dividends			Yield / Cost			Average Balance				Interest and Dividends			Yield / Cost
	(Dollars in thousands)
Interest-earnings assets:
Loans	$	9,287,935			$	358,128		5.16	%		$	8,040,666			$	298,548		4.96	%
Securities		2,076,233				57,427		3.70	%			1,484,237				38,520		3.47	%
Other interest-earning assets		589,577				18,224		4.13	%			297,563				12,003		5.39	%
Total interest-earning assets		11,953,745				433,779		4.85	%			9,822,466				349,071		4.75	%
Non-interest-earning assets		1,005,767										867,884
Total assets	$	12,959,512									$	10,690,350
Interest-bearing liabilities:
Interest-bearing demand	$	2,348,436			$	36,752		2.09	%		$	1,967,414			$	33,121		2.25	%
Money market accounts		1,513,531				26,539		2.34	%			1,328,675				28,425		2.86	%
Savings and club deposits		830,303				4,049		0.65	%			645,055				3,278		0.68	%
Certificates of deposit		3,122,982				87,945		3.77	%			2,795,026				84,234		4.03	%
Total interest-bearing deposits		7,815,252				155,285		2.66	%			6,736,170				149,058		2.96	%
FHLB advances		1,296,659				39,560		4.08	%			1,164,942				38,174		4.38	%
Subordinated notes		15,419				834		7.23	%			—				—		—	%
Junior subordinated debentures		7,064				394		7.46	%			7,043				425		8.07	%
Other borrowings		476				15		4.21	%			—				—		—	%
Total borrowings		1,319,618				40,803		4.13	%			1,171,985				38,599		4.40	%
Total interest-bearing liabilities		9,134,870			$	196,088		2.87	%			7,908,155			$	187,657		3.17	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits		1,849,140										1,455,365
Other non-interest-bearing liabilities		260,569										218,546
Total liabilities		11,244,579										9,582,066
Total stockholders’ equity		1,714,933										1,108,284
Total liabilities and stockholders’ equity	$	12,959,512									$	10,690,350
Net interest income					$	237,691									$	161,414
Interest rate spread								1.98	%									1.58	%
Net interest-earning assets	$	2,818,875									$	1,914,311
Net interest margin								2.66	%									2.20	%
Ratio of interest-earning assets to interest-bearing liabilities		130.86	%									124.21	%

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Components of Net Interest Rate Spread and Margin
	Average Yields/Costs by Quarter
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Yield on interest-earning assets:
Loans	5.37	%		5.01	%		5.01	%		5.03	%		5.04	%
Securities	3.96			3.50			3.38			3.36			3.41
Other interest-earning assets	3.87			4.33			4.78			4.69			5.24
Total interest-earning assets	4.99	%		4.74	%		4.76	%		4.77	%		4.81	%
Cost of interest-bearing liabilities:
Total interest-bearing deposits	2.60	%		2.68	%		2.71	%		2.79	%		2.91	%
Total borrowings	4.20			4.06			4.12			4.25			4.37
Total interest-bearing liabilities	2.81	%		2.90	%		2.92	%		3.01	%		3.14	%
Interest rate spread	2.18	%		1.84	%		1.84	%		1.76	%		1.67	%
Net interest margin	2.96	%		2.44	%		2.42	%		2.36	%		2.29	%
Ratio of interest-earning assets to interest-bearing liabilities	138.83	%		126.11	%		124.59	%		124.84	%		124.64	%

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Selected Financial Highlights
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
SELECTED FINANCIAL RATIOS (1):
Return on average assets	0.13	%		0.52	%		0.48	%		0.57	%		0.55	%
Core return on average assets (2)	0.97	%		0.54	%		0.55	%		0.57	%		0.56	%
Return on average equity	0.75	%		4.92	%		4.55	%		5.43	%		5.23	%
Core return on average equity (2)	5.73	%		5.14	%		5.17	%		5.50	%		5.41	%
Core return on average tangible equity (2)	6.20	%		5.71	%		5.75	%		6.14	%		6.04	%
Interest rate spread	2.18	%		1.84	%		1.84	%		1.76	%		1.67	%
Net interest margin	2.96	%		2.44	%		2.42	%		2.36	%		2.29	%
Non-interest (loss) income to average assets	(0.33	)%		0.39	%		0.25	%		0.31	%		0.36	%
Non-interest expense to average assets	2.34	%		1.76	%		1.75	%		1.70	%		1.65	%
Efficiency ratio	97.05	%		67.01	%		70.73	%		68.42	%		67.04	%
Core efficiency ratio (2)	53.16	%		65.90	%		68.02	%		68.06	%		66.04	%
Average interest-earning assets to average interest-bearing liabilities	138.83	%		126.11	%		124.59	%		124.84	%		124.64	%
Net charge-offs/ (recoveries) to average outstanding loans	0.05	%		0.10	%		(0.03	)%		0.03	%		0.04	%
(1) Ratios are annualized when appropriate.
(2) See reconciliation of GAAP to non-GAAP financial measures.

ASSET QUALITY DATA:
	September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
	(Dollars in thousands)
Non-accrual loans (1)	$	36,476			$	42,988			$	41,375			$	38,000			$	32,529
90+ and still accruing		—				—				—				—				—
Non-performing loans		36,476				42,988				41,375				38,000				32,529
Real estate owned		—				5,923				5,923				—				—
Total non-performing assets	$	36,476			$	48,911			$	47,298			$	38,000			$	32,529
Non-performing loans to total gross loans		0.31	%			0.51	%			0.50	%			0.46	%			0.40	%
Non-performing assets to total assets		0.21	%			0.40	%			0.43	%			0.34	%			0.30	%
Allowance for credit losses on loans (“ACL”)	$	118,594			$	71,065			$	68,761			$	67,201			$	65,659
ACL to total non-performing loans		325.13	%			165.31	%			166.19	%			176.84	%			201.85	%
ACL to gross loans		1.02	%			0.84	%			0.84	%			0.82	%			0.80	%
(1) Excludes loans held-for-sale at September 30, 2026.

LOAN DATA:
	September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
	(In thousands)
Real estate loans:
One-to-four family	$	2,627,567			$	2,518,768			$	2,543,588			$	2,558,252			$	2,583,162
Multifamily		3,704,346				1,768,395				1,669,232				1,677,613				1,612,105
Commercial real estate		3,247,917				2,573,823				2,472,993				2,513,260				2,532,329
Construction		553,805				502,609				520,753				469,438				465,283
Commercial business loans		1,005,519				831,030				752,246				766,792				771,486
Consumer loans:
Home equity loans and advances		443,303				248,141				249,487				255,126				256,970
Other consumer loans		3,970				2,851				2,850				2,895				2,725
Total gross loans		11,586,427				8,445,617				8,211,149				8,243,376				8,224,060
Purchased credit deteriorated loans		163,004				9,828				10,158				10,442				10,920
Net deferred loan costs, fees and purchased premiums and discounts		37,329				38,165				38,371				38,192				37,580
Allowance for credit losses		(118,594	)			(71,065	)			(68,761	)			(67,201	)			(65,659	)
Loans receivable, net	$	11,668,166			$	8,422,545			$	8,190,917			$	8,224,809			$	8,206,901

	At September 30, 2026
	(Dollars in thousands)
	Balance			% of Gross Loans			Weighted Average Loan to Value Ratio (1)			Weighted Average Debt Service Coverage (1)
Multifamily Real Estate	$	3,704,346		32.0	%		55.0	%		1.56
Owner Occupied Commercial Real Estate	$	913,044		7.9	%		67.4	%		3.18
Investor Owned Commercial Real Estate:
Retail / Shopping centers	$	627,962		5.4	%		52.5	%		1.61
Mixed Use		445,332		3.8			56.6			1.46
Industrial / Warehouse		551,186		4.8			52.0			1.57
Non-Medical Office		211,467		1.8			50.3			1.78
Medical Office		104,653		0.9			56.7			1.43
Single Purpose		58,592		0.5			63.9			1.36
Other		335,681		2.9			48.6			1.89
Total	$	2,334,873		20.2	%		52.9	%		1.61
Total Multifamily and Commercial Real Estate Loans	$	6,952,263		60.0	%		55.9	%		1.79
(1) Based on the most recent financial information available.
As of September 30, 2026, the Company had approximately $77.0 million in office loans in New York City. As of October 27, 2026, the Company had approximately $164.6 million of rent stabilized multifamily loans in New York City.

DEPOSIT DATA:
	September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025
	Balance			Weighted Average Rate			Balance			Weighted Average Rate			Balance			Weighted Average Rate			Balance			Weighted Average Rate
	(Dollars in thousands)
Non-interest-bearing demand	$	2,327,457		—	%		$	1,555,833		—	%		$	1,508,030		—	%		$	1,517,399		—	%
Interest-bearing demand		3,402,812		2.07				2,844,989		1.37				1,882,987		1.86				1,985,871		1.99
Money market accounts		1,719,373		2.36				1,409,504		2.48				1,451,274		2.43				1,465,028		2.59
Savings and club deposits		1,391,044		0.93				636,566		0.42				625,001		0.42				623,444		0.47
Certificates of deposit		3,720,837		3.66				3,055,173		3.69				2,904,722		3.71				2,852,337		3.80
Total deposits	$	12,561,523		2.07	%		$	9,502,065		1.99	%		$	8,372,014		2.16	%		$	8,444,079		2.23	%

CAPITAL RATIOS:
	September 30,			December 31,
	2026 (1)			2025
Company:
Total capital (to risk-weighted assets)	25.75	%		14.92	%
Tier 1 capital (to risk-weighted assets)	24.29	%		14.03	%
Common equity tier 1 capital (to risk-weighted assets)	24.24	%		13.94	%
Tier 1 capital (to adjusted total assets)	18.39	%		10.27	%
Columbia Bank:
Total capital (to risk-weighted assets)	19.77	%		14.09	%
Tier 1 capital (to risk-weighted assets)	18.81	%		13.20	%
Common equity tier 1 capital (to risk-weighted assets)	18.81	%		13.20	%
Tier 1 capital (to adjusted total assets)	14.23	%		9.67	%
(1) Estimated ratios at September 30, 2026

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Book and Tangible Book Value per Share
	September 30,				December 31,
		2026				2025
	(Dollars in thousands)
Total stockholders’ equity	$	3,165,284			$	1,160,728
Less: goodwill		(110,715	)			(110,715	)
Less: core deposit intangible		(78,763	)			(6,946	)
Total tangible stockholders’ equity	$	2,975,806			$	1,043,067
Shares outstanding		269,547,660				103,984,649
Cash dividends paid per share	$	0.05			$	—
Book value per share	$	11.74			$	11.16
Tangible book value per share	$	11.04			$	10.03

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)
Reconciliation of Core Net Income
	Three Months Ended September 30,							Nine Months Ended September 30,
		2026				2025			2026				2025
	(In thousands)
Net income	$	5,231			$	14,868		$	32,817			$	36,073
Add/less: loss (gain) on securities transactions, net of tax		29,003				—			29,003				(251	)
Add: loss on sale of loans , net of tax(1)		4,897				—			4,897				—
Less: bargain purchase gain, net of tax		(25,689	)			—			(25,689	)			—
Add: severance expense, net of tax		1,091				503			1,091				1,020
Add: merger-related expenses, net of tax		25,942				—			28,371				—
Add: loss on extinguishment of debt, net of tax		139				—			139				—
Add: litigation expenses, net of tax		—				—			—				242
Core net income	$	40,614			$	15,371		$	70,629			$	37,084
(1) Loss on sale of loans includes only Northfield loan sales.

Return on Average Assets
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
	(Dollars in thousands)
Net income	$	5,231			$	14,868			$	32,817			$	36,073
Average assets	$	16,535,935			$	10,811,264			$	12,959,512			$	10,690,350
Return on average assets		0.13	%			0.55	%			0.34	%			0.45	%
Core net income	$	40,614			$	15,371			$	70,629			$	37,084
Core return on average assets		0.97	%			0.56	%			0.73	%			0.46	%

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)
Return on Average Equity
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
	(Dollars in thousands)
Total average stockholders’ equity	$	2,774,374			$	1,127,486			$	1,714,933			$	1,108,284
Add/less: loss (gain) on securities transactions, net of tax		29,003				—				29,003				(251	)
Add: loss on sale of loans, net of tax(1)		4,897				—				4,897				—
Less: bargain purchase gain, net of tax		(25,689	)			—				(25,689	)			—
Add: severance expense, net of tax		1,091				503				1,091				1,020
Add: merger-related expenses, net of tax		25,942				—				28,371				—
Add: loss on extinguishment of debt, net of tax		139				—				139				—
Add: litigation expenses, net of tax		—				—				—				242
Core average stockholders’ equity	$	2,809,757			$	1,127,989			$	1,752,745			$	1,109,295
Return on average equity		0.75	%			5.23	%			2.56	%			4.35	%
Core return on core average equity		5.73	%			5.41	%			5.39	%			4.47	%
(1) Loss on sale of loans includes only Northfield loan sales.

Return on Average Tangible Equity
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
	(Dollars in thousands)
Total average stockholders’ equity	$	2,774,374			$	1,127,486			$	1,714,933			$	1,108,284
Less: average goodwill		(110,715	)			(110,715	)			(110,715	)			(110,715	)
Less: average core deposit intangible		(65,493	)			(7,742	)			(26,401	)			(8,252	)
Total average tangible stockholders’ equity	$	2,598,166			$	1,009,029			$	1,577,817			$	989,317
Core return on average tangible equity		6.20	%			6.04	%			5.98	%			5.01	%

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)
Efficiency Ratios
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
	(Dollars in thousands)
Net interest income	$	114,381			$	57,386			$	237,691			$	161,414
Non-interest (loss) income		(13,908	)			9,867				3,669				28,511
Total income	$	100,473			$	67,253			$	241,360			$	189,925
Non-interest expense	$	97,505			$	45,086			$	194,409			$	133,837
Efficiency ratio		97.05	%			67.04	%			80.55	%			70.47	%
Non-interest (loss) income	$	(13,908	)		$	9,867			$	3,669			$	28,511
Add/less: loss (gain) on securities transactions		40,849				—				40,849				(336	)
Add: loss on sale of loans (1)		6,897				—				6,897				—
Less: bargain purchase gain, net of tax		(25,689	)			—				(25,689	)			—
Core non-interest income	$	8,149			$	9,867			$	25,726			$	28,175
Non-interest expense	$	97,505			$	45,086			$	194,409			$	133,837
Less: severance expense		(1,536	)			(670	)			(1,536	)			(1,365	)
Less: merger-related expenses		(30,641	)			—				(33,283	)			—
Less: loss on extinguishment of debt		(196	)			—				(196	)			—
Less: litigation expenses		—				—				—				(325	)
Core non-interest expense	$	65,132			$	44,416			$	159,394			$	132,147
Core efficiency ratio		53.16	%			66.04	%			60.51	%			69.70	%
(1) Loss on sale of loans includes only Northfield loan sales.

ACQUISITION DATE-FAIR VALUE BALANCE SHEET

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Northfield, net of the total consideration paid:

	At July 20, 2026
	(In thousands)
		Amount					Estimated Fair Value
Total Purchase Price							$	578,823
Acquired Equity		$	681,816
Fair Value Marks:
Debt securities held to maturity			(425	)
Loans receivable, yield			(150,538	)
Loans receivable, credit			(86,590	)
Allowance for credit losses			39,441
Core deposit intangibles			76,167
Office land and buildings			12,973
Leases			(550	)
Certificates of deposit			2,364
Borrowings			2,613
Subordinated debentures			1,860
Post-Retirement benefits (BOLI)			(293	)
Taxes			25,674
Less: Fair value of net assets							$	604,512
Bargain purchase gain, net of tax							$	(25,689	)
The calculation of the bargain purchase gain is subject to change for up to one year after the date of acquisition as additional information relative to the closing date estimates and uncertainties become available. As the Company finalizes its review of the acquired assets and liabilities, certain adjustments to the recorded carrying values may be required.

Columbia Financial, Inc.
Investor Relations Department
(833) 550-0717