Tag: GlobeNewswire

Grand opening ceremony brings together OEM representatives, business partners, and local officials to mark the next chapter of Micware’s North American operations

KOBE, Japan, Nov. 02, 2026 (GLOBE NEWSWIRE) — Micware Co., Ltd. (Nasdaq: MWC) (the “Company” or “Micware”), a Japan-based provider of in-vehicle infotainment, navigation, and location-based software for automakers including Honda and Toyota, today announced that its subsidiary, Micware North America, Inc. (“Micware North America”), celebrated the relocation of its Dublin, Ohio office to a new and expanded workspace at 5525 Parkcenter Circle, Suite 100S, Dublin, Ohio 43017, with a grand opening ceremony held on October 30, 2026. The Company believes that the expanded office reflects the continued growth of Micware’s presence in North America and its ongoing commitment to innovation, collaboration, and the customers and partners it serves in the region.

Micware North America’s New Office at 5525 Parkcenter Circle, Suite 100S, Dublin, Ohio 43017

From left: Takashi Harishima, President of Micware North America; Chris Amorose Groomes, Mayor of Dublin, Ohio; Hideaki Tokuhara, Chief Operating Officer of Micware; and Mike Carey, U.S. Representative for Ohio’s 15th District

Celebrating the Next Chapter of Micware North America

The grand opening ceremony held at the Marriott Columbus Northwest in Dublin, Ohio marked a new milestone for Micware North America more than a decade after Micware established its U.S. presence in 2014. Mr. Kenji Narushima, Founder, Chief Executive Officer and Chairman of Micware, joined representatives of automotive original equipment manufacturers (OEMs), officials from the City of Dublin, business partners, and members of the local community to celebrate the occasion. The event included a formal ribbon-cutting ceremony, an office tour, a reception, and a technology showcase, giving guests an opportunity to explore Micware’s expanded U.S. office and meet the Company’s management and team.

Chris Amorose Groomes, Mayor of Dublin, Ohio, speaks during the ceremony.

The event also featured the presentation of the Patriot Award from Employer Support of the Guard and Reserve (“ESGR”), a U.S. Department of Defense program. Mr. Bob Skinner, Chairman of Central Ohio ESGR, presented the award individually to three Micware North America team members: Mr. Takashi Harishima, President; Mr. Jun Nonomura, Chief Operating Officer; and Mr. Tomonao Matsumoto, Senior Software Engineer. The three recipients were nominated by Micware North America employee Mr. Kevin Zhang, who currently serves in the U.S. Army Reserve, in recognition of their support for his military service.

Showcasing Micware’s Software-Defined Vehicle and Spatial Intelligence Technologies

Technology exhibits formed a central part of the event, highlighting Micware’s established automotive software expertise and its applications across mobility and spatial intelligence. Guests explored the Company’s software-defined vehicle (“SDV”) and location-based services (“LBS”) technologies, including micAuto-PF, its in-vehicle infotainment software platform; AI-powered tools supporting software development and testing; Mvcube, a road infrastructure analysis solution; and 3D digital twin technologies powered by DynaPlanet-PF.

Together, the exhibits illustrated Micware’s capabilities across in-vehicle systems, road infrastructure, and 3D digital environments. The showcase also provided an opportunity to engage with OEM representatives and local officials, reinforcing Micware North America’s role as a key base for software development services to Japanese OEMs outside Japan.

Management Commentary

Mr. Kenji Narushima, Founder, Chief Executive Officer, and Chairman of Micware, commented, “When we established Micware North America in 2014, our goal was to be closer to the customers and partners we serve and to build lasting relationships in this market. Over the years, those relationships have become an important part of Micware’s journey. Our U.S. team has continued to grow, and our new office is now twice the size of our previous workspace. Seeing our customers, partners, and members of the local community come together for this opening made this milestone especially meaningful for all of us.”

Mr. Narushima continued, “This new office represents more than a larger workspace. It represents the next chapter of what we hope to build in North America. We intend to continue building our presence here in Dublin, together with our customers, partners, and the local community. We want to continue supporting the customers who have grown with us, while exploring opportunities to introduce more of Micware’s platforms and technologies, including micAuto-PF and DynaPlanet-PF, to the market. I am deeply grateful to everyone who has supported Micware North America over the years, and I look forward to what we can accomplish together from this new home.”

About Micware Co., Ltd.

Micware Co., Ltd. (Nasdaq: MWC) is a Japan-based provider of in-vehicle infotainment, navigation, and location-based software for automakers including Honda and Toyota. These capabilities also form the foundation of its spatial intelligence business.

Headquartered in Kobe and led by Founder and CEO Mr. Kenji Narushima since 2003, Micware operates 13 offices in Japan, with overseas subsidiaries in the United States, Thailand, and Germany.

Through a platform-based growth strategy, Micware aims to extend its software into advanced driver assistance and connected services with micAuto-PF, and to link real-world and virtual 3D spaces with DynaPlanet-PF.

For more information, visit Micware’s IR website at www.ir-micware.com and its LinkedIn page at www.linkedin.com/company/micware-company-limited.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”). Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the annual report on Form 20-F and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

Micware Co., Ltd.
Investor Relations Department
Phone: +81-3-6699-9899
Email: mic_ir@micware.co.jp

Public Relations
Email: mic_pr@micware.co.jp

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c60702d-06e7-4ef3-96a2-5dc04a23ae3c 
https://www.globenewswire.com/NewsRoom/AttachmentNg/7e1f6d22-61dc-4238-8874-9f3b6f0f156d

New Findings from Academic Collaboration Examine Tumor-Cell Behavior, TGF-Β/SMAD Signaling & Stromal Responses; Australian Patent Application Filed for the Combination Approach

MELBOURNE, Australia, Nov. 02, 2026 (GLOBE NEWSWIRE) — Propanc Biopharma, Inc. (Nasdaq: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company focused on developing novel treatments for chronic diseases including recurrent and metastatic cancer, today announced highlighted new preclinical findings evaluating its pancreatic proenzyme formulation (PRP) alone and in combination with galunisertib (GAL), a small-molecule inhibitor of transforming growth factor beta receptor I (TGF-βRI), in pancreatic ductal adenocarcinoma (PDAC) models. The Company has filed an Australian patent application relating to the combination approach.

The research was conducted in collaboration with investigators at the University of Jaén and the University of Granada in Spain. The study compared PRP, GAL and PRP plus GAL in wild-type BxPC-3 pancreatic cancer cells, gemcitabine-resistant BxPC-3 cells, normal-associated fibroblasts (NAFs) and cancer-associated fibroblasts (CAFs). Experiments assessed cell proliferation, colony formation, migration and invasion, together with molecular readouts associated with TGF-β signaling, epithelial–mesenchymal transition (EMT), extracellular-matrix (ECM) remodeling and fibroblast activation.

PDAC is characterized by complex interactions between malignant cells and the surrounding tumor microenvironment. TGF-β signaling can contribute to tumor-cell plasticity, EMT and stromal activation, although its effects depend on cellular context. The study investigated whether PRP could modulate these tumor- and stroma-associated processes and whether adding a TGF-β pathway inhibitor provided further effects.

“Our academic collaboration with the Universities of Jaén and Granada in Spain continues to provide strong scientific evidence and a rationale for the administration of PRP as a stand-alone therapy, but also as a combinatorial approach with inhibitor drugs that can successfully stop tumor growth and dissemination but can be limited due to resistance mechanisms developed over time as a result of alterations to the tumor microenvironment,” said Mr. James Nathanielsz, Propanc’s Chief Executive Officer. “PRP represents a new approach addressing these resistance mechanisms by inducing biological effects that alters the behavior of these malignant cells, rather than using the inhibitory approach. Our unique intellectual property portfolio continues to grow and strengthen as a result and is positioning the Company for long-term future growth, which our shareholders understand will come to fruition as future planned R&D milestones are achieved. Management believe these milestones are near term as PRP (now called Company Candidate, PPC-001) enters the clinic. Further announcements are expected regarding current preparatory activities for our Phase 1b, First-In-Human study as we progress further.”

Key preclinical findings:

• Anti-proliferative activity in tumor models: PRP reduced cell proliferation by approximately 50% in wild-type and gemcitabine-resistant BxPC-3 cells relative to untreated controls. PRP plus GAL reduced proliferation by 75% and 66%, respectively. The additional reduction versus PRP alone was significant in wild-type cells; in resistant cells, the further reduction was not statistically significant.
• Reduced long-term colony-forming capacity: PRP reduced colony formation by 59% in wild-type cells and 39% in gemcitabine-resistant cells. The combination reduced colony formation by 68% and 64%, respectively. The additional effect of the combination over PRP alone was significant in the resistant model, but not in the wild-type model.
• Suppression of migration and invasion: In wound-healing assays at 72 hours, wound closure was 21% with PRP in wild-type cells and 57% in resistant cells, compared with untreated controls. PRP plus GAL resulted in 19% and 30% wound closure, respectively; the combination significantly improved the result over PRP alone in resistant cells, but not in wild-type cells. In Matrigel invasion assays, PRP reduced invasion by 81% in wild-type cells and 47% in resistant cells. PRP plus GAL produced reductions of 89% and 80%, respectively.
• Modulation of TGF-β/SMAD pathway-associated gene expression: PRP significantly reduced SMAD2, SMAD3 and TGFBR1 transcript levels to 0.45-, 0.63- and 0.55-fold of control in wild-type cells, and to 0.42-, 0.36- and 0.23-fold in resistant cells, compared to control group. The combination produced further reductions in selected readouts, although the magnitude and statistical significance of the additional effects varied across models and markers.
• Changes in EMT-associated markers: PRP increased E-cadherin expression 5.29-fold in wild-type cells and 4.86-fold in resistant cells, while reducing Vimentin to 0.31- and 0.32-fold and Snail to 0.62- and 0.28-fold, respectively, relative to untreated controls. The combination produced additional changes in selected biomarkers, including stronger suppression of Snail in the resistant-cell model. These transcriptional findings are consistent with a shift towards a more epithelial gene-expression profile; they do not establish complete reversal of EMT.
• Changes in genes are linked to tumor aggressiveness and cell survival: In wild-type cells, PRP reduced MYC and SOX2 expressions to 0.27- and 0.54-fold of control, respectively, and increased the pro-apoptotic marker BAX 2.49-fold. In resistant cells, MYC and SOX2 fell to 0.11- and 0.22-fold, while BAX increased 2.74-fold. These are gene-expression results and can be interpreted as degree of apoptosis.
• Differential responses in fibroblast populations: PRP reduced CAF proliferation by up to 53% and CAF invasion by 85%, while its effect on NAF proliferation was modest and not statistically significant (approximately 22% reduction); NAF invasion was reduced by 19%. The gene-expression data showed a similar differential response. In CAFs, PRP reduced αSMA, FAPα and YAP1 expression to 0.56-, 0.27- and 0.58-fold of untreated-control levels, respectively. It also reduced COL1A1, FN1, MMP9, IL6 and CXCL12 expressions to 0.65-, 0.42-, 0.49-, 0.25- and 0.54-fold of control, respectively. In NAFs, the corresponding reductions in COL1A1, FN1, MMP9, IL6 and CXCL12 expression were not statistically significant (0.81-, 0.86-, 0.76-, 0.75- and 0.81-fold of control, respectively); αSMA expression was 0.81-fold of control, YAP1 was 0.89-fold, and FAPα expression was undetectable. Overall, the pattern suggests a more pronounced effect on activated CAFs than on NAFs.
• Combination effects and stromal selectivity: Compared with PRP monotherapy, the addition of GAL enhanced the inhibition of selected CAF-associated functional and molecular features, although it also increased the impact on normal-associated fibroblasts. In proliferation assays PRP + GAL reduced CAF proliferation by 71%, compared with 53% with PRP alone, while inhibition in NAFs increased from a non-significant 22% with PRP to 55% with the combination. In clonogenic assays, the combination reduced colony formation by 78% in CAFs, compared with 69% with PRP alone; however, it also reduced NAF clonogenic capacity by 42%, whereas PRP largely preserved it. This additional reduction in NAF clonogenicity was significant (38.9% relative to PRP), while the additional reduction in CAFs was not significant (19.5%). Regarding migration, PRP + GAL limited wound closure in CAFs to 28% at 72 hours, compared with 35% with PRP alone, whereas NAF wound closure reached 100% under both treatment conditions. In Matrigel assays, the combination further reduced invasion in CAFs from 85% with PRP alone to 90%, while the reduction in NAF invasion increased from 19% to 32%. At the molecular level, PRP + GAL produced a slightly greater downregulation of CAF-associated genes than PRP alone, reducing COL1A1, FN1, MMP9, IL6 and CXCL12 expression to 0.40-, 0.32-, 0.29-, 0.16- and 0.32-fold of control levels, respectively, compared with 0.65-, 0.42-, 0.49-, 0.25- and 0.54-fold with PRP alone. The combination also reduced CAF activation markers αSMA and FAPα to 0.45- and 0.19-fold of control, respectively, compared with 0.46- and 0.30-fold with PRP. In NAFs, the combination reduced COL1A1, FN1, MMP9, IL6 and CXCL12 expressions to 0.63-, 0.85-, 0.56-, 0.68- and 0.80-fold of control, respectively, indicating broader effects than PRP monotherapy, for which these changes were modest and not statistically significant. Overall, PRP alone showed a more favorable stromal selectivity profile, whereas the addition of GAL enhanced suppression of several CAF-associated markers but also increased effects on NAF proliferation, clonogenicity and invasion.

What the findings mean

The addition of galunisertib enhanced the suppression of several CAF-associated markers, including genes involved in ECM remodeling and inflammatory signaling, and further reduced selected functional endpoints, particularly tumor-cell and CAF invasion. However, these additional effects were not uniform across all assays. Importantly, GAL-containing treatment also increased the suppression of several readouts in NAFs, including proliferation and clonogenic capacity. This distinction raises an important question: whether stronger inhibition of TGF-β associated signaling necessarily produces a more favorable overall response, or whether preserving the selectivity of the stromal response may be equally important. Within the conditions tested, PRP monotherapy showed a more favorable profile in terms of differential effects on CAFs and NAFs, whereas the combination produced broader stromal suppression at the expense of some of this apparent selectivity.

These findings do not establish that preserving NAF function improves clinical outcomes, but they support investigating stromal selectivity as an important parameter when evaluating future combination strategies.

In tumor cells, PRP also demonstrated activity across multiple functional and molecular endpoints in both wild-type and gemcitabine-resistant BxPC-3 models. These effects included reduced proliferation, colony-forming capacity, migration and invasion, together with changes in TGF-β/SMAD-associated signaling and EMT-related gene expression. Increased E-cadherin expression alongside reduced vimentin and Snail expression was consistent with a shift towards a more epithelial transcriptional profile, while changes in MYC, SOX2 and BAX suggested additional effects on genes associated with tumor-cell aggressiveness and apoptotic regulation. The combination with GAL enhanced selected responses, particularly invasion suppression in resistant tumor cells, although the magnitude of the additional benefit varied between models and experimental endpoints. These observations support further investigation of PRP as a potential modulator of aggressive tumor-cell phenotypes, including in a gemcitabine-resistant setting.

A central hypothesis emerging from this study is that PRP may offer a dual advantage: modulating aggressive tumor-cell characteristics while preferentially attenuating features of activated tumor-supportive stroma. TGF-β inhibition may reinforce some of these effects, but its broader impact on normal-associated fibroblasts suggests that the optimal therapeutic strategy may not simply be the one that produces the greatest overall suppression. Instead, the balance between tumor-directed activity, CAF modulation and preservation of normal stromal functions may be critical.

“These preclinical findings provide a rationale for continued investigation of PRP, both as a monotherapy and in combination with TGF-β pathway inhibition, in pancreatic cancer,” said Dr. Maria Belén Toledo, Lead Investigator at the University of Jaén. “They also identify stromal selectivity as a potentially valuable consideration in treatment development and suggest that therapeutic value of targeting the tumor microenvironment should be assessed not only by the extent of pathway suppression, but also by which cellular populations are affected and how this translates into tumor control. Further validation in more complex models will be conducted to confirm whether these effects can be reproduced and support a clinically meaningful therapeutic strategy.”

Illustration of the proposed effects of PRP and TGF-β pathway inhibition on tumor cells and the tumor microenvironment

About Propanc Biopharma, Inc.

Propanc Biopharma, Inc. (Nasdaq: PPCB) is developing a novel approach to preventing cancer recurrence and metastasis by targeting and eradicating cancer stem cells through proenzyme activation. The Company’s lead product candidate, PRP, is designed to address the underlying drivers of cancer proliferation and spread.

More information: www.propanc.com

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors, made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Forward-looking statements are not guarantees of future actions or performance. Actual results may differ materially from those in the forward-looking statements because of several factors, including, without limitation, risks and uncertainties related to market conditions, as well as those risks described under “Risk Factors” in the prospectus related to the proposed offering and those described in the Company’s filings with the SEC. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Company:
Propanc Biopharma, Inc.
James Nathanielsz
+61-3-9882-0780
info@propanc.com

Investor Contact:
irteam@propanc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b88acd9-0745-449d-9f68-a061a7553c5d

ATLANTA, GA, Nov. 02, 2026 (GLOBE NEWSWIRE) — Trust Stamp (NASDAQ:IDAI), a global provider of AI-powered software solutions, today announced that CEO Gareth N. Genner will provide a live presentation on the Company’s progress and 2027 business plan from 11:00 to 11:30 ET on November 18, 2026. The presentation will be livecast as a part of the OTC Markets Small Cap Growth Virtual Investor Conference and made available to 1.7 million B2iDigital subscribers. An additional live Q&A session for investors and analysts will be held at 13:00 on the same day.

About Trust Stamp

Trust Stamp is a global provider of AI-powered services for use in multiple sectors including banking and finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services. Its technology empowers organizations via advanced solutions that ensure technology and data sovereignty, reduce fraud, tokenize and secure assets and data, and securely authenticate users while protecting personal privacy, reducing friction in digital transactions, and increasing operational efficiency. With team members from over twenty nationalities in ten countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (NASDAQ:IDAI).

Inquiries: shareholders@truststamp.ai

Safe Harbor Statement: Caution Concerning Forward-Looking Remarks 

All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

DRS will provide critical power and thermal management subsystems for a mobile counter-unmanned aircraft system capability

ARLINGTON, Va., Nov. 02, 2026 (GLOBE NEWSWIRE) — Leonardo DRS, Inc. (Nasdaq: DRS) announced today that AeroVironment, Inc. (“AV”) (Nasdaq: AVAV) has selected the company to provide rugged integration expertise for the U.S. Army’s Enduring-High Energy Laser (E-HEL) production program. DRS will apply its expertise in power management, environmental control to enable the mobile high-energy laser system intended to counter unmanned aircraft system (UAS) threats.

In September 2026, the U.S. Army announced its award to AV for the E-HEL program, describing it as the service’s first production contract for a high-energy laser weapon system. The Army said E-HEL is intended to give soldiers a scalable, affordable directed-energy system that strengthens C-UAS operations.

DRS’ subcontract supports AV’s production of LOXUST X3 laser weapon systems und the Army’s E-HEL program. AV’s 30-kilowatt, platform-agnostic LOCUST X3 is designed for integration across a range of military platforms, including the Army’s Joint Light Tactical Vehicle, with palletized configuration options also available.

“The Army’s move to production reflects the growing importance of scalable, fieldable directed-energy capabilities in countering evolving UAS threats,” said John Baylouny, president and chief executive officer of Leonardo DRS. “DRS is proud to partner with AV and bring its integration expertise to its E-HEL production effort.”

“Evolving drone threats demand systems that deliver reliable performance in demanding operational environments,” said Aaron Hankins, vice president and general manager, Leonardo DRS Land Systems. “Our team is applying experience in vehicle integration, power and thermal management to help AV deliver a mobile high-energy laser capability for the U.S. Army.”

The work builds on DRS’ previous directed-energy integration experience, including a rapid-prototyping effort in partnership with AeroVironment and other industry partners to develop a mobile counter-UAS directed-energy capability integrated into an armored vehicle. In that effort, DRS provided vehicle-integration, power, thermal-management and systems-engineering expertise for U.S. government live-fire evaluations and training in 2024 and 2025.

By applying this experience to the E-HEL program, DRS is helping bring scalable, fieldable directed-energy technology to the Army’s counter-UAS mission and broader defense-modernization efforts.

About Leonardo DRS

Leonardo DRS, Inc. (Nasdaq: DRS) is at the forefront of developing transformative defense technologies using its proven agility and delivering innovative solutions for U.S. national security customers and allies worldwide. We specialize in rapidly providing high-performance, multi-domain capabilities across next-generation advanced sensing, network computing, force protection, and electric power and propulsion. Our reputation as a trusted provider is built on a continuous focus on practical innovation, delivering quality, and meeting our customers’ most demanding mission requirements. For further information on our complete range of capabilities, visit www.LeonardoDRS.com.

Forward-Looking Statements

This communication contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements which include contract values, contract performance and our development and production of products are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements.

Leonardo DRS Investor Relations Contact
Camilla Yanushevsky
Director, Investor Relations
+1 571 309 8216
investorrelations@drs.com

Leonardo DRS Media Contact
Charles Jones
Director, Marketing and Corporate Communications
+1 571-737-8800
charles.jones@drs.com  

Company leverages expanding residential solar platform and long-duration energy storage capabilities to capitalize on rising demand for reliable, cost-effective power

NEW PORT RICHEY, Fla., Nov. 02, 2026 (GLOBE NEWSWIRE) — Zeo Energy Corp. (Nasdaq: ZEO) (“Zeo,” “Zeo Energy,” or the “Company”), a provider of residential solar and commercial long-duration energy storage (“LDES”) solutions, today outlined its strategy to drive growth across its two complementary business segments, leveraging continued momentum in residential solar and an expanding pipeline of commercial energy storage opportunities supporting data centers and other energy-intensive applications.

Zeo’s growth strategy builds on its vertically integrated residential solar platform, which generated 9.2% year-over-year revenue growth during the first half of 2026 despite broader industry headwinds, alongside its commercial energy storage business. Together, these businesses position Zeo to address increasing demand for affordable, reliable and flexible energy solutions across residential and commercial markets.

“We see significant opportunities to create value across both sides of our business,” said Tim Bridgewater, Chairman and CEO of Zeo Energy. “Our residential solar platform continues to demonstrate its resilience in a challenging market, supported by a differentiated sales model and disciplined operating approach. At the same time, our commercial energy storage business is positioning us to address growing demand for dependable power solutions, particularly as data center development places increasing pressure on traditional grid infrastructure.”

Residential Solar: Driving Growth Through a Differentiated Operating Model

Zeo’s residential solar business generated $29.4 million in revenue during the first six months of 2026, with second-quarter revenue increasing 23% sequentially. The Company achieved this growth despite a challenging industry environment characterized by elevated financing costs and reduced residential solar activity.

The Company’s vertically integrated operating model encompasses customer acquisition, system design, permitting, installation and ongoing service, providing greater control over the customer experience and operational execution. Zeo’s differentiated direct-sales organization, supported by investments in technology and AI-enabled customer relationship management tools, is designed to improve productivity and enhance operating efficiency.

Zeo maintains a disciplined regional growth strategy, concentrating its residential solar operations in select markets, including Virginia, Ohio, Illinois and Pennsylvania, alongside its established presence in Florida. The Company believes this targeted approach enables it to leverage existing infrastructure, optimize customer acquisition costs and expand its presence in attractive markets.

The residential solar market also presents a significant long-term growth opportunity. With approximately 8% penetration among an estimated 95 million U.S. homes, compared with approximately 15%–25% penetration in certain international markets, the Company believes substantial runway remains for domestic adoption. Rising utility rates, growing interest in energy independence and the continued development of residential financing solutions are expected to support demand over time.

Commercial Energy Storage: Addressing Growing Data Center Power Demand

Through its commercial division, Zeo is developing an energy storage business focused on long-duration solutions for data centers, utilities and other commercial and industrial customers.

The Company’s commercial strategy emphasizes behind-the-meter power infrastructure designed to deliver reliable, continuous electricity while incorporating renewable energy generation and storage technologies. Zeo is particularly focused on opportunities involving smaller and midsized data centers with power requirements of approximately 20 to 50 megawatts, where flexible energy infrastructure can help address grid capacity constraints and accelerate access to power.

Zeo’s commercial engineering team is evaluating a range of LDES technologies, including molten salt, compressed carbon dioxide and alternative battery chemistries, with an emphasis on applications requiring approximately 10 to 14 hours of energy storage duration.

The Company is currently pursuing approximately six commercial projects at various stages of development, reflecting growing demand for distributed power infrastructure and long-duration energy storage solutions.

Among these opportunities is Zeo’s previously announced non-binding memorandum of understanding with Creekstone Energy to explore the development of approximately 280 megawatts of energy generation and storage capacity for a planned data center campus in Millard County, Utah. The proposed development would incorporate solar photovoltaic generation and storage as part of a subsequent phase of the project’s behind-the-meter power infrastructure.

Zeo is also evaluating additional opportunities in Utah and other markets where data center expansion is creating demand for reliable, scalable power solutions.

Multiple Growth Drivers Supported by a Strengthened Balance Sheet

Zeo is pursuing a multifaceted growth strategy designed to capitalize on opportunities across its residential and commercial businesses while maintaining financial discipline.

In residential solar, the Company is focused on expanding its sales organization, increasing productivity in existing markets and introducing complementary offerings, including roofing and HVAC services. These additional services are intended to leverage Zeo’s established customer relationships and infrastructure to generate incremental revenue opportunities.

The Company also continues to evaluate selective acquisition opportunities that could expand its geographic reach, enhance operating capabilities or provide access to complementary commercial energy projects.

Supporting these initiatives, Zeo announced the early repayment of its $1.67 million convertible note on September 23, 2026, eliminating its outstanding corporate debt at that time.

“Our focus remains on disciplined execution and pursuing opportunities where we believe Zeo has a clear competitive advantage,” Bridgewater added. “We are continuing to strengthen our residential platform while building a commercial energy storage business that addresses one of the most pressing challenges facing data center operators: access to reliable power. We believe these complementary opportunities provide a strong foundation for sustainable growth and long-term shareholder value.”

Bridgewater recently discussed the Company’s growth strategy and market opportunities at the H.C. Wainwright 28th Annual Global Investment Conference, held September 14–16, 2026. A replay of the presentation and accompanying materials is available through the Investor Relations section of Zeo’s website at investors.zeoenergy.com.

About Zeo Energy Corp.

Zeo Energy Corp. (Nasdaq: ZEO) is a diversified energy company providing residential, commercial, industrial and utility-scale solutions designed to reduce energy costs and carbon emissions. Zeo operates Sunergy Solar, a solar, distributed-energy and efficiency-solutions business, and Heliogen, LLC, an energy-generation and long-duration storage business focused on high-demand applications such as data centers and other energy-intensive industries. Through its integrated development, engineering and operating capabilities, Zeo is pursuing opportunities to provide customers with reliable, cost-effective energy solutions across multiple end markets. For more information, visit www.zeoenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This press release and statements of Zeo’s management in connection with this press release contain or may contain “forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to the Company. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “explore,” “develop,” “development,” “deploy,” “deployment,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the anticipated benefits to the Company of the repayment of the Company’s convertible debt as described herein.  These and other forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts, and assumptions, and involve a number of significant judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should therefore not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially and adversely different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (i) planned projects may not be developed in the timelines anticipated, or at all; (ii) the outcome of any legal proceedings that may be instituted against the Company or others; (iii) the Company’s success in retaining or recruiting, or changes required in, its officers, key employees, or directors; (iv) the Company’s ability to raise additional capital and maintain the listing of its common stock and warrants on Nasdaq; (v) limited liquidity and trading of the Company’s securities; (vi) geopolitical risk and changes in applicable laws or regulations, including tariffs or trade restrictions; (vii) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (viii) operational risks, including risks associated with Zeo’s expanding business model; (ix) litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on the Company’s resources; (x) the Company’s ability to effectively consolidate the assets of acquired companies and produce the expected results; and (xi) other risks and uncertainties, including those included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2025 and in its subsequent periodic reports and other filings with the SEC.

In light of the significant risks and uncertainties associated with forward-looking statements, you should not regard these statements as a representation or warranty by the Company, its respective directors, officers or employees or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this news release represent the views of the Company as of the date of this news release. Subsequent events and developments may cause that view to change. However, while the Company may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of the Company as of any date subsequent to the date of this news release.

Contact:

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
ZEO@redchip.com

Maranello (Italy), November 2, 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on September 1, 2026, as the third tranche of the multi-year share buyback program of approximately Euro 3.5 billion expected to be executed by 2030 in line with the disclosure made during the 2025 Capital Markets Day (the “Third Tranche”), the additional common shares – reported in aggregate form, on a daily basis – on the Euronext Milan (EXM) as follows:

Trading Date (dd/mm/yyyy)	Stock Exchange	Number of common shares purchased	Average price per share excluding fees (€)	Consideration excluding fees (€)
26/10/2026	EXM	2,000	353.7594	707,518.80
27/10/2026	EXM	13,000	351.2915	4,566,789.50
28/10/2026	EXM	8,000	350.9577	2,807,661.60
29/10/2026	EXM	1,800	352.7169	634,890.42
30/10/2026	EXM	4,000	356.5277	1,426,110.80
Total	–	28,800	352.1865	10,142,971.12

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

Since the announcement of such Third Tranche till October 30, 2026, the total invested consideration has been:

• Euro 130,524,314.01 for No. 370,061  common shares purchased on the EXM
• USD 31,498,189.59 (Euro 27,457,608.48*) for No. 77,824 common shares purchased on the NYSE.

As of October 30, 2026 the Company held in treasury No. 2,038,689 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 1.15% of the then total issued common shares. Including the special voting shares, the Company held in treasury 0.87% of the then total issued share capital.

Since January 5, 2026, start date of the multi-year share buyback program of approximately Euro 3.5 billion announced during the 2025 Capital Markets Day, until October 30, 2026, the Company has purchased a total of 2,149,069 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 668,739,227.70.

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).

For further information:
Ferrari Media & PR
Email: media@ferrari.com

Attachment

• FNV BB PR 2 Nov 2026 ENG

KUALA LUMPUR, Malaysia, Nov. 02, 2026 (GLOBE NEWSWIRE) — Bradbury Capital Inc. (NASDAQ:BBCI and BBCIW) a Malaysian company that provides electronic voucher services and develops digital payment solutions through its subsidiary, Super Apps Holding Sdn. Bhd. (“Super Apps”) and strategic partnerships, today announced an adjustment to the exercise price and the number of shares of common stock issuable upon exercise of its outstanding public warrants (the “Public Warrants”).

Concurrently with the closing of the business combination on October 6, 2026, the Company completed a PIPE investment, pursuant to which an investor purchased 625,000 ordinary shares of the Company at a per share price of $8.00 for an aggregate purchase price of $5 million. All of the proceeds of the PIPE investment were applied to finance the expenses of the business combination and represented more than 60% of the proceeds available for the funding of the business combination on the closing date.

Pursuant to Section 4.6 of the Warrant Agreement dated January 14, 2022, between Technology & Telecommunication Acquisition Corporation, predecessor in interest to the Company, and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”), the terms of the Public Warrants contain provisions that trigger an adjustment to the exercise price and the warrant redemption trigger price upon the occurrence of each of the following events: (i) the Company issues equity securities at a price per share of less than $9.20 in connection with a business combination; (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the business combination on the date of the consummation of such business combination; and (iii) the volume weighted average trading price of the Company’s ordinary shares during the twenty (20) trading day period starting on the trading day prior to the date of the consummation of the business combination is below $9.20 per share. The volume weighted average trading price of the Company’s ordinary shares during the period commencing on October 5, 2026 (which is the trading day immediately prior to the consummation of the business combination) and October 30, 2026, is $5.09.

In light of the foregoing, the Company determined that the conditions precedent for adjusting the exercise price of the Public Warrants were met. As a result, effective as of October 30, 2026, the Public Warrants were adjusted as set forth below:

Key Adjustments to the Public Warrants:

• New Exercise Price: The exercise price of the Public Warrants has been reduced from $11.50 per share to $9.20 per share.
• New Redemption Trigger Price: The New Redemption Trigger Price has been reduced from $18.00 per share to $14.40 per share.
• Warrant Share Ratio Adjustment: The number of shares of ordinary shares receivable upon the exercise of each Public Warrant remains unchanged. Each Public Warrant continues to be exercisable into one ordinary share of the Company.
• Expiration Date: The expiration date of the Public Warrants remains unchanged and will expire on October 5, 2031, at 5:00 p.m. Eastern Time, unless earlier redeemed by the Company.

The adjustments were calculated strictly in accordance with the formula set forth in Section 4.6 of the Warrant Agreement, based on the $8.00 per share purchase price of the securities sold in the PIPE transaction.

The CUSIP number for the Warrants will remain G87646 116 and the trading symbol for the Warrants will continue to be “BBCIW” following the foregoing adjustments to the Warrants.

If you should have any questions, please do not hesitate to contact the below contact via email at: info@bradburycapital.com.

No action is required on the part of individual warrant holders to reflect this adjustment. The Company’s warrant agent, Continental Stock Transfer & Trust Company, will maintain updated records reflecting the adjusted terms.

About the Company
The Company is the parent company of Super Apps and OneShop Retail Sdn. Bhd.  The Company provides electronic voucher services and develops digital payment solutions through its subsidiaries and strategic partnerships. Its ecosystem supports digital voucher distribution, payment enablement and digital commerce services that connect merchants, brands and consumers through technology-driven platforms that facilitate transactions and business growth. The Company’s distribution network includes retailers, corporate partners and financial institutions. Through strategic partnerships, including a collaboration with MYISCO that provides access to ANGKASA’s network of approximately 8 million members in Malaysia, the Company continues to expand its market reach across Malaysia and the broader ASEAN region.

Forward-Looking Statements
This press release and any written or oral statements made by us in connection with this press release include forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would,” and other similar expressions that predict or indicate future events or trends, or the negative of these terms or comparable terminology, although not all forward-looking statements contain such words.

All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, among others, statements regarding the Company’s business strategy, growth plans, financial outlook, market opportunities, and anticipated benefits of the recently completed business combination between the Company and TETE.

Any forward-looking statements contained herein are based on the Company’s current plans, estimates, expectations, and projections, and are not guarantees of future performance. These statements represent management’s expectations as of the date of this press release. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to: (i) integration risks following completion of the business combination; (ii) the Company’s ability to execute its strategic and operational plans; (iii) potential litigation or regulatory proceedings relating to the business combination; (iv) the Company’s ability to retain and attract key personnel; (v) potential adverse reactions or changes to business relationships resulting from the closing of the business combination; (vi) general economic, financial, market, and political conditions; (vii) the Company’s access to capital and financing sources; and (viii) the other risks described under the captions “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s filings with the SEC, including its registration statement on Form F-4, as well as subsequent filings with the SEC, which are available at www.sec.gov.

The Company undertakes no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Contacts:
Bradbury Capital Inc.
Investor Relations
Email: info@bradburycapital.com 

Confirmation of the Lawson Conduit and newly interpreted four-way structural closure near Lawson 4, combined with reprocessing of proprietary 3D seismic data through integration of rich new datasets, has further de-risked the upcoming completions round at the Lawson Complex as MAX Power targets a new primary energy source at scale

Video: MAX Power Rings the CSE Opening Bell
https://www.youtube.com/watch?v=KoyiL__bM1c

REGINA, Saskatchewan, Nov. 02, 2026 (GLOBE NEWSWIRE) — MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to report that GLJ Ltd., in collaboration with MAX Power’s geological team, has identified the signature of a deep conduit near Lawson 4, providing new insight into the structural framework of the Lawson Natural Hydrogen Complex through integration of multiple datasets from Lawson 1 to Lawson 4 and reprocessing of proprietary 3D seismic data acquired earlier this year. The optimized model further de-risks the upcoming completions program at Lawson and highlights new discovery potential as MAX Power targets the world’s first large-scale commercialization of Natural Hydrogen.

Highlights

• Lawson 1 to Lawson 4 are connected by a faulted fracture system along the flanks of the Lawson Conduit and GLJ’s newly interpreted apex of the Lawson structure featuring 4-way closure, further underscoring the volume and size potential of this system;
• The Lawson Conduit exceeds the current limits of depth detection, suggesting rooting at a deep crustal level;
• Integration of rich data sets (igneous and metamorphic geology, borehole-derived petrophysics covering Lawson 1 to Lawson 4, and regional 2D seismic) with the Lawson Complex 3D Survey will allow for precise targeting of perforation intervals to maximize potential flow, concentrations and volume;
• GLJ’s dynamic new imaging of the basement complex will soon be further augmented by a large state-of-the-art aeromagnetic survey covering Lawson and other MAX Power land packages. This work is intended to provide a seismic template for the entire Genesis Trend and elsewhere to further enhance drill targeting and new discovery potential across 2.5-million acres of permitted ground.

Mr. Steve Halabura, MAX Power Chief Geoscientist, commented: “Lawson 4 was indeed a discovery within a discovery, and it has contributed to a much better understanding of the basement plumbing system and the overlying sedimentary beds. We know the rocks at Lawson like never before and the generative mechanisms for Natural Hydrogen in this area. The diligence of GLJ and our team is allowing MAX Power to target a resource of both size and quality in the upcoming completions round, while also identifying new potential discovery zones within the Lawson Complex. The fact we can scale this up to cover 2.5 million acres or more for a potential new primary energy source speaks to a possible nation-building opportunity that uranium and potash have also given to Saskatchewan.”

Unlocking The Discovery Power of Natural Hydrogen in Saskatchewan

It has become increasingly clear to GLJ and the MAX Power geological team that the key to unlocking the Natural Hydrogen potential of south-central Saskatchewan begins with the definition of basement-hosted Natural Hydrogen “kitchens”. These “kitchens”, starting with the Lawson Discovery, combine the appropriate source rocks (mafic/alkaline intrusive complexes) that are associated with regional rift and fault systems. Furthermore, they have been flooded with the brines necessary to generate Natural Hydrogen from a fluid flow event that oxidizes ferrous iron, this in turn being associated with flanking structural and stratigraphic traps created within the overlying sedimentary rock sequences.

Lawson 4 Overview

Lawson 4 was the third well of MAX Power’s commercial validation drill program, following up on success in each of the first three wells including the Lawson 1 Discovery Well featuring free gas flow to surface following perforation, evidence of a potentially large reservoir with strong drive mechanism, and Natural Hydrogen concentrations up to 286,000 parts per million (28.6%) in gas samples recovered from sealed core tubes (upcoming completions will re-enter Lawson 1).

Lawson 4 delivered the highest Natural Hydrogen readings to date at the Lawson Complex, based on drill rig gas detection instrumentation, and partially intersected the Lawson Conduit as described above at a measured depth of 2,310.5 meters. It features a thick basal Cambrian reservoir with high permeability and porosity, and shows potential for very strong reservoir drive that will be tested in upcoming completions. At least six intervals have been selected for perforation at Lawson 4 from the basement complex to shallower formations.

The Natural Hydrogen system at Lawson 4 occurs within fractured mafic country rock that core analysis suggests has undergone both iron redox and serpentinization reactions (generative mechanisms for Natural Hydrogen), subject to confirmation from isotopic data from the completions program. The metamorphosed ortho-amphibolites with gneissic bands in the alkaline intrusive rock, shown in photos below, are believed to contribute to the generation of Natural Hydrogen which has migrated along a highly porous and permeable fault zone and has been trapped along flanking micro- fractures and stratigraphic seals.

Figure 1 – Lawson 4 Core Photo A

Figure 2 – Lawson 4 Core Photo B

Figure 3 – Lawson 4 Core Photo C

Figure 4 – Lawson 4 Core Photo D

Figure 5 – Lawson 4 Core Photo E

CEO Commentary

Mr. Rob Norris, MAX Power CEO, commented: “We are on a mission to make history through the discovery of a new primary energy source in Saskatchewan. We are eagerly anticipating the start of completions at Lawson, likely during the week of November 9. We will also be conducting site visits this month with major groups from overseas. As we build out the Lawson Discovery, we are examining creative ways to scale up the opportunity across our 2.5-million-acre land package.”

Why This Matters to Investors

MAX Power’s latest findings represent an important advance in understanding the scale, architecture and potential commercial significance of the Lawson Natural Hydrogen system. What began with Canada’s first confirmed subsurface Natural Hydrogen discovery is evolving into a far more detailed geological picture: A deep conduit, an interconnected fault and fracture network, and a newly interpreted four-way structural closure that may provide the conditions necessary for Natural Hydrogen generation, migration and accumulation. Significantly, the interpreted conduit extends beyond the current limits of seismic imaging, leaving its full depth and extent unresolved.

The timing is particularly important. With Lawson completions approaching, MAX Power is no longer relying solely on geological indicators to guide its next steps. Data from four wells at the Lawson Complex, core analysis, petrophysics and reprocessed 3D seismic have been integrated to identify and prioritize the intervals most prospective for Natural Hydrogen deliverability. The upcoming tests will provide critical information on concentrations, sustained flow rates, pressure and reservoir connectivity, helping determine whether the geological potential identified at Lawson can translate into commercially viable production.

The broader implications extend well beyond Lawson. If the geological model continues to be supported by drilling and testing, MAX Power will have developed an increasingly sophisticated exploration framework that can be applied across its approximately 2.5 million permitted acres in Saskatchewan. The opportunity is therefore twofold: Advancing Lawson toward potential commercial development while improving the Company’s ability to identify and evaluate additional Natural Hydrogen systems across the Genesis Trend and beyond.

For investors, this is the convergence of three important developments: A more clearly defined geological system, increasingly precise commercial testing targets, and an exploration model with potential application across an exceptionally large land position. The next phase will begin determining how much of that geological potential can be translated into a commercial energy resource.

H-NAT Summit in Paris

MAX Power is taking its Saskatchewan discovery story to the global Natural Hydrogen industry at the H-NAT Summit, November 3–4 at the Pullman Paris Bercy in France. A significant sponsor of the event, the Company will be represented by CEO Rob Norris, President Chad Levesque and other team members. At 9:00 am local time Tuesday, Mr. Levesque will present the Lawson Discovery story to an international audience of major energy companies, industry leaders, developers, geoscientists, investors and prospective customers as MAX Power builds the strategic relationships and advances the commercial validation necessary to help establish an entirely new primary energy industry.

MAX Power Rings Opening Bell at CSE

MAX Power CEO Rob Norris and President Chad Levesque rang the Canadian Securities Exchange Opening Bell on October 29, marking the Company’s position as the Exchange’s largest mining issuer by market capitalization. MAXX has also been a consistent daily dollar-volume leader on the CSE, often placing in the top three. The milestone brings added visibility to Saskatchewan’s emerging Natural Hydrogen opportunity as MAX Power advances from discovery toward the testing required to evaluate commercial production. Watch the market open and comments from CEO Rob Norris by using the video link at the top of this news release, or by clicking the link immediately below:

https://www.youtube.com/watch?v=KoyiL__bM1c

“MAX Power” at NASA

NASA’s MAX POWER Aerospace Technology Expo and Airshow takes place November 7–8 at Kennedy Space Center in Florida, celebrating aviation, space exploration and technological innovation. Although the shared name is a coincidence, hydrogen has a long history in space exploration: NASA has used liquid hydrogen as rocket fuel for decades. MAX Power is pursuing a potential new source of hydrogen beneath Saskatchewan, with upcoming testing at Lawson designed to assess its potential for commercially viable production.

Stay Connected by Following Us On
X (formerly Twitter): x.com/MaxPowerMining
LinkedIn: linkedin.com/company/max-power-mining-corp
Instagram: instagram.com/maxpowerminingcorp
YouTube: youtube.com/@maxpowerminingcorp
and by joining our Telegram channel: t.me/MaxpowerMining

Recent Videos

Video: The Next Chapter
https://youtu.be/LUIHqS35rMg

Video: The Time is Now
https://youtu.be/TKnEnBEQ0TM

What if the Answer to Natural Hydrogen Was Beneath Our Feet All Along?
https://youtu.be/srV-RCmzzPk

President Chad Levesque On Significance of Lawson
https://youtu.be/wCeFQTKtOuI

What is Natural Hydrogen?
https://www.youtube.com/watch?v=S0bqqZeIpxc

Genesis Explained: Its “Salt Barrier” Advantage and Proximity to Demand
https://www.youtube.com/watch?v=3ytpHdve6S8

The Genesis Trend’s Industrial Corridor
https://youtube.com/shorts/IAgALH_s3mI

Lawson – Canada’s First Big Step into Natural Hydrogen
https://www.youtube.com/watch?v=lTTOwMxz_zo

MAX Power Leaps at Lawson
https://www.youtube.com/watch?v=Yr4Ha06__Eg

Watch the Drill in Action
https://www.youtube.com/watch?v=eguNGAfdIek

MAX Power Saskatchewan Natural Hydrogen Documentary Video
https://www.youtube.com/watch?v=TXGDtTUbJ2c

History in The Making at Lawson – Video Immediately Ahead of Drill Rig Setup
https://www.youtube.com/watch?v=BNHazk9Sy4E

Figure 6 – MAX Power Drilling at Lawson 5 Well (October 2026)

Figure 7 – Genesis Trend Map – 475 km “Natural Hydrogen Highway”

About MAX Power

MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The Company’s Lawson Discovery near Central Butte, Saskatchewan, represents Canada’s first-ever subsurface Natural Hydrogen system confirmed through deep drilling with data validated by three independent labs. MAX Power has built dominant district-scale land positions across Saskatchewan with approximately 2.5 million acres (~1 million hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen, and has commenced a multi-well follow-up drill program to validate the commerciality of the broader Lawson Complex interpreted to cover a 28 sq. km area along the 475-km Genesis Trend. MAX Power also holds a significant equity position in Homeland Critical Minerals, which now owns the Willcox Project in Arizona, a lithium discovery confirmed in early 2024 by MAX Power. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.

On behalf of the Board of Directors,

Rob Norris, CEO
MAX Power Mining Corp.
info@maxpowermining.com

For further information, please contact:

Chad Levesque, President
Ph: 1-306-981-4753
chad@maxpowermining.com

Media Contact:

Sarah Mawji, Venture Strategies
sarah@venturestrategies.com

Cautionary Statement and Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is often identified by words such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should”, “will” and similar expressions.

In this release, forward-looking information includes statements regarding the interpretation, extent and significance of the Lawson Conduit and associated geological structures; potential Natural Hydrogen generation, migration, accumulation and connectivity; the anticipated benefits of integrating well data with reprocessed 3D seismic; the timing, scope and results of completions and testing, including the anticipated start at Lawson during the week of November 9; the selection and performance of perforation intervals; anticipated isotopic analysis; the planned aeromagnetic survey and its application to exploration targeting; potential new discoveries and the scalability of the Company’s exploration model; potential commercial production of Natural Hydrogen; and planned site visits and conference participation.

Forward-looking information is based on management’s current expectations, estimates, projections and assumptions, including, among other things, that required regulatory approvals will be obtained, financing will be available on acceptable terms, planned exploration, appraisal and development activities will proceed as anticipated, equipment and personnel will be available as required, geological interpretations and technical results will support further advancement of the Company’s projects, and market conditions will remain favourable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation, risks relating to exploration and development activities, geological and technical uncertainties, commercialization of Natural Hydrogen, reservoir performance, infrastructure availability, strategic partnership opportunities, market acceptance, commodity and energy prices, access to capital, regulatory approvals, environmental and permitting requirements, and general economic, market and business conditions.

The Company’s Natural Hydrogen projects remain at the exploration and evaluation stage. Further work may not confirm the interpreted conduit, its extent, reservoir connectivity or proposed hydrogen-generation mechanisms, and results at Lawson may not be replicated elsewhere. Drilling observations, gas detections, core analyses and geological or seismic interpretations do not, in themselves, establish commercially recoverable quantities of Natural Hydrogen or demonstrate the economic viability of production. Structural interpretations do not establish reservoir communication or sustained deliverability. Further testing, including isotopic analysis, technical evaluation and economic assessment will be required to assess whether the geological potential can support commercially viable production.

There can be no assurance that the Company’s plans, expectations or objectives will be achieved. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, whether due to new information, future events or otherwise, except as required by applicable securities laws.

Additional information regarding the Company and the risks and uncertainties affecting its business and operations is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Infographics accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/63a7da17-01bf-4897-bb16-0f06a1a0b3c2 
https://www.globenewswire.com/NewsRoom/AttachmentNg/423c229d-8184-4b74-895b-4945e92f105b
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c5eaf97-6791-46d6-836a-d1d1ba89b284
https://www.globenewswire.com/NewsRoom/AttachmentNg/19992ea2-4294-4b88-8f09-4ee39b66c1d9 
https://www.globenewswire.com/NewsRoom/AttachmentNg/d180fe79-bd2d-43d0-9bbd-16289e2e9d9e
https://www.globenewswire.com/NewsRoom/AttachmentNg/496fb2bd-5dc5-4ca8-abf9-876303583ec9
https://www.globenewswire.com/NewsRoom/AttachmentNg/9e88b166-a5a0-4290-92dd-86cbbf9209f8

IntentKey maintains iOS reach and campaign performance as Apple’s latest privacy changes take hold

LITTLE ROCK, Ark., Nov. 02, 2026 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a leader in artificial intelligence-driven advertising technology, today announced that advertisers can have custom audiences live on Safari and iPhone within 24 hours through IntentKey^®‘s managed service. Since Apple’s iOS 27 update, IntentKey has kept the same share of impressions on iPhone, with no change in client performance.

Apple’s iOS 27 update further limits how advertisers can recognize people in Safari, a challenge for advertising technology that depends on following people from site to site. IntentKey works differently. It is a large language model that reads content across the open web to understand interest and intent, with no cookies and no personal data attached to a profile. Roughly a third of IntentKey’s iPhone traffic now runs on iOS 27, and that share is climbing as advertisers head into the holiday season. Delivery has held throughout.

IntentKey’s reach on Safari isn’t new. Inuvo first announced IntentKey reaching Safari without cookies in 2022, and again in 2023 when Apple tightened tracking in iOS 17.

The offering gives advertisers three things:

• Custom audiences from a brief. Advertisers and agencies send the brief behind an audience: who they want to reach and why. IntentKey turns it into a custom audience built on interest and intent.
• Live within 24 hours. Once the campaign plan is approved, IntentKey has the audience live through its managed service within 24 hours.
• Delivery on Safari and iPhone. Managed campaigns reach Safari on iPhone, iPad and Mac, and have since the day iOS 27 shipped.

“Apple’s update has exposed a fundamental difference in how advertising technology is built,” said Rob Buchner, Chairman and Chief Executive Officer of Inuvo. “Much of the industry depends on recognizing people to reach them. IntentKey was built to understand what audiences care about without needing to know who anyone is. That’s why our delivery on Safari held. More of Apple’s audience moves to iOS 27 every week, right as holiday budgets are being spent, and we can have an advertiser’s audience live within a day.”

“We’ve kept serving the same share of impressions on iPhone since iOS 27 shipped, with no change in client performance,” said Amir Bakhshaie, SVP, IntentKey at Inuvo. “If anything, it shows we built IntentKey the right way.”

Advertisers and agencies can submit an audience brief at inuvo.com/safari.

About Inuvo
Inuvo, Inc. (NYSE American: INUV) is a disruptive AI specifically designed for modeling media audiences. IntentKey^® AI is a patented technology capable of identifying customer engagement based on real-time media consumption. Our models refresh every 5 minutes and know, with precision, why prospects are interested in a product or brand, predicting purchase intent 24 hours before legacy programmatic systems can respond to buying signals. Inuvo’s language-based AI does not rely on consumer IDs, keeping Inuvo on the vanguard of consumer data privacy. To learn more, visit www.inuvo.com.

Safe Harbor / Forward-Looking Statements
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Investor Contact:
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President & Chief Financial Officer, Inuvo, Inc.
Email: derric.ciccone@inuvo.com

Pathfinder reported earnings of $0.32 per diluted share, with continued progress resolving previously identified commercial credits, disciplined deposit pricing, a focus on relationship-based deposits, and sequential-quarter net interest income growth.

OSWEGO, N.Y., Nov. 02, 2026 (GLOBE NEWSWIRE) — Pathfinder Bancorp, Inc. (“Pathfinder” or the “Company”) (NASDAQ: PBHC) announced its financial results for the third quarter ended September 30, 2026.

The holding company for Pathfinder Bank (“the Bank”) reported net income of $2.1 million, or $0.32 per diluted share, in the third quarter of 2026, compared to $2.7 million, or $0.42 per diluted share, in the second quarter of 2026, and $626,000, or $0.10 per diluted share, in the third quarter of 2025.

Third Quarter 2026 Highlights and Key Developments

• Third quarter 2026 net income reflected provision expense of $231,000, attributed to quantitative and qualitative factor adjustments to the allowance for credit losses (“ACL”), compared to a provision benefit of $155,000 in the second quarter of 2026 and provision expense of $3.5 million in the third quarter of 2025.
• The Company’s ACL, which reflects the risk-based reserve build undertaken in the second half of 2025 to absorb future loss resolution activity related to commercial individually analyzed loans (“IALs”), was $22.7 million, or 2.60% of total loans, on September 30, 2026, $26.9 million, or 3.03% of loans, on June 30, 2026, and $18.7 million, or 2.08%, on September 30, 2025. Specific reserves, including those previously established in conjunction with last year’s comprehensive commercial portfolio review, represented 57.4% of the ACL at the end of the third quarter of 2026. Net charge-offs (“NCOs”) were $4.3 million in the third quarter of 2026, driven primarily by commercial IALs and fully covered by previously established specific reserves. NCOs were $1.9 million in the second quarter of 2026 and $670,000 in the third quarter of 2025.
• Loans totaled $873.0 million at September 30, 2026, compared to $889.0 million at June 30, 2026, and $898.5 million at September 30, 2025. Commercial loans were $531.6 million or 60.9% of total loans at September 30, 2026, compared to $544.6 million at June 30, 2026 and $543.7 million at September 30, 2025.
• Deposits totaled $1.16 billion at September 30, 2026, compared to $1.17 billion at June 30, 2026, and $1.23 billion at September 30, 2025, reflecting intentional runoff of higher-cost time and brokered deposits, as well as municipal deposit seasonality. Core deposits were $957.1 million or 82.6% of total deposits on September 30, 2026, compared to $961.6 million on June 30, 2026, and $960.1 million on September 30, 2025.
• Net interest income was $10.7 million in the third quarter of 2026, compared to $10.5 million in the second quarter of 2026 and $11.6 million in the third quarter of 2025. Net interest margin (“NIM”) was 3.07% in the third quarter of 2026, compared to 3.08% in the second quarter of 2026 and 3.34% in the year-ago period. In the third quarter of 2025, prepayment penalty income contributed $260,000 and 7 basis points to net interest income and NIM, respectively.
• The average cost of total deposits improved to 2.04% in the third quarter of 2026, down 3 basis points from the second quarter of 2026 and 24 basis points from the third quarter of 2025, while the average cost of interest-bearing deposits was 2.48%, unchanged from the linked quarter and down 23 basis points from the year-ago period.
• Noninterest expense was $9.4 million, or 2.51% of average assets on an annualized basis in the third quarter of 2026. Noninterest expense was $8.7 million or 2.39% of average assets in the second quarter of 2026 and $8.9 million or 2.40% of average assets in the third quarter of 2025.
• The efficiency ratio was 78.13% in the third quarter of 2026, compared to 74.26% in the second quarter of 2026 and 68.78% in the third quarter of 2025⁽¹⁾.
• Pre-tax, pre-provision (“PTPP”) net income was $2.6 million in the third quarter of 2026, compared to $3.0 million in the second quarter of 2026 and $4.1 million in the third quarter of 2025⁽¹⁾.  
• Quarterly cash dividends payable to common stockholders of $0.10 per share were declared on September 28, 2026 and are payable on November 6, 2026.

“Third quarter results demonstrate continued execution of our strategy for strengthening our relationship-focused community bank,” President and Chief Executive Officer James Dowd said. “Credit performance continued to reflect the orderly resolution of previously identified commercial credits, with net charge-offs fully covered by specific reserves previously established for those exposures. In addition, recent investments in seasoned commercial banking talent have already introduced Pathfinder to growing numbers of proven borrowers and sponsors, providing a new pipeline of commercial real estate loan production that we expect to begin funding in the fourth quarter. We also remain encouraged by our region’s economic momentum, with construction well underway for the largest semiconductor manufacturing facility in the United States near two of our existing branches, as well as this month’s announcement that New York State and Micron Technology have started the process of injecting $500 million into Central New York housing, education, workforce development, and community investments through the Green CHIPS Community Investment Fund.”

Dowd added, “Our focus on Pathfinder’s valuable core deposit franchise was also evident in the third quarter. Even as we facilitate intentional runoff of higher-cost non-relationship accounts, Pathfinder maintained its leading deposit market share position among all local banks serving Oswego and Onondaga counties combined. With core deposits representing over 82% of all deposits, and six consecutive quarters of reductions in our average cost of total deposits, Pathfinder is well positioned for a rising rate environment. While we are not immune to the upward pressure the industry is widely expected to see in deposit costs, we believe Pathfinder’s market position, customer relationships, and pricing discipline provide a solid foundation for building on our core deposit base going forward.”

_{⁽¹⁾ Non-GAAP financial metric. See “Notes on Non-GAAP Financial Measures” and non-GAAP reconciliation included herein for the most directly comparable financial measures.}

Net Interest Income and Net Interest Margin
Net interest income in the third quarter of 2026 reflected a full three months’ benefit of the reallocation of underutilized liquidity into the available-for-sale (“AFS”) securities portfolio, which was primarily undertaken late in the second quarter of 2026.

Third quarter 2026 net interest income was $10.7 million, an increase of $175,000, or 1.7%, from the second quarter of 2026. An increase in total interest and dividend income of $576,000 in the third quarter of 2026, from the linked quarter, was primarily attributed to a $27.3 million increase in average earning assets, as well as an average yield increase of 6 basis points on all interest-earning assets. A 13 basis points increase in average loan yields in the third quarter of 2026, from the linked quarter, was primarily attributable to new originations of commercial real estate loans at higher rates, which offset the impact of portfolio runoff from maturities and payoffs, in addition to the transfer of two commercial relationships to nonperforming status in the third quarter of 2026. A 3 basis points increase in taxable securities average yield in the third quarter of 2026, from the linked quarter, reflected a $36.6 million increase in average taxable investment securities balances resulting from AFS securities purchases. During the third quarter of 2026, compared to the linked quarter, average balances of federal funds sold and interest-earning deposits increased by $5.2 million, while average balances of loans and tax-exempt securities declined by $14.0 million and $500,000, respectively. An increase in total interest expense in the third quarter of 2026, from the linked quarter, of $401,000 was primarily attributed to a $682,000 increase in interest on borrowings that were utilized to support recent AFS securities purchases, which more than offset a $293,000 reduction in interest paid on deposits. During the third quarter of 2026, compared to the linked quarter, the 10 basis points increase in the average cost of total interest-bearing liabilities included increases of 16 basis points in the average cost of borrowings and 16 basis points in the average cost of subordinated debt, while the average cost of interest-bearing deposits remained unchanged.

Third quarter 2026 NIM was 3.07%, compared to 3.08% in the linked quarter. The 1 basis point decrease from the linked quarter primarily resulted from an increase in the cost of borrowings, which more than offset stable interest-bearing deposit costs and higher earning asset yields.

Third quarter 2026 net interest income was $10.7 million, a decrease of $889,000 or 7.7%, from the year-ago period when the Company benefited from $260,000 in loan and investment prepayment penalty income. A decrease in total interest and dividend income of $1.1 million in the third quarter of 2026, from the year-ago period, was primarily attributed to a $20.8 million decline in average loan balances and an average yield decrease of 34 basis points on all interest-earning assets, as well as the elevated loan and investment prepayment income recorded in the third quarter of 2025. Average loan yields decreased 37 basis points from the year-ago period, driven by maturities and payoffs of higher-yielding loans, and elevated nonperforming loans for which specific reserves were established as appropriate prior to the third quarter of 2026. A 16 basis points decrease in taxable securities average yield in the third quarter of 2026, from the year-ago period, reflected payoffs of higher-yielding taxable securities in conjunction with higher average balances from recent AFS securities purchases. In addition, comparing the third quarter of 2026 to the year-ago period, the average balance of taxable securities increased by $25.6 million while average balances of loans and tax-exempt securities declined by $20.8 million and $1.4 million, respectively. Compared to the year-ago period, third quarter 2026 income from loan interest, tax-exempt securities, and federal funds sold and interest earning deposits decreased by $1.1 million, $84,000 and $15,000, respectively, while income from taxable securities and dividends increased by $71,000 and $56,000, respectively. A decrease in total interest expense in the third quarter of 2026, from the year-ago period, of $203,000 was attributed to a $1.1 million decrease in interest paid on deposits, partially offset by a $692,000 increase in interest on borrowings that were utilized to support recent AFS securities purchases. During the third quarter of 2026, compared to the year-ago period, the 5 basis points decline in the average cost of total interest-bearing liabilities included increases of 13 basis points in the average cost of borrowings and 231 basis points in the average cost of subordinated debt that reset from bearing fixed to floating-rate interest after October 15, 2025, as well as a decrease of 23 basis points in the average cost of interest-bearing deposits.

Third quarter 2026 NIM was 3.07%, compared to 3.34% in the year-ago period. The decrease of 27 basis points reflected a decline in earning asset yields and an increase in borrowing costs that more than offset lower interest-bearing deposit costs, as well as third quarter 2025 NIM that benefited by 7 basis points from elevated loan and investment prepayment penalty income.

Noninterest Income
Noninterest income totaled $1.4 million in the third quarter of 2026, compared to $1.2 million in the second quarter of 2026, and $1.5 million in the third quarter of 2025.

Compared to the linked quarter, third quarter 2026 noninterest income reflected increases of $11,000 in debit card interchange fees and $10,000 in service charges on deposit accounts, as well as decreases of $49,000 in earnings and gain on bank owned life insurance (“BOLI”) and $4,000 in loan servicing fees. In addition, compared to the linked quarter, third quarter 2026 noninterest income reflected increases of $39,000 in net realized gains on sales and redemptions of investment securities and $1,000 in gains on sales of loans and foreclosed real estate. Net unrealized gains on marketable equity securities, which include three limited partnership equity method investments, remains a variable contributor to noninterest income, increasing $125,000 in the third quarter of 2026 from the linked quarter.

Compared to the year-ago period, third quarter 2026 noninterest income reflected decreases of $49,000 in loan servicing fees, $18,000 in debit card interchange fees, $13,000 in service charges on deposit accounts, and $5,000 in earnings and gains on BOLI attributed to a $32,000 net death benefit recorded in the third quarter of 2025. In addition, compared to the year-ago period, third quarter 2026 noninterest income included an increase of $51,000 in net realized gains on sales and redemptions of investment securities and a $25,000 decrease in gains on sales of loans and foreclosed real estate. Net unrealized gains on marketable equity securities, which include three limited partnership equity method investments, remains a variable contributor to noninterest income, decreasing $73,000 in the third quarter of 2026 from the year-ago period.

Noninterest Expense
Noninterest expense totaled $9.4 million in the third quarter of 2026, compared to $8.7 million in the second quarter of 2026 and $8.9 million in the third quarter of 2025.

Salaries and benefits expense was $5.6 million in the third quarter of 2026, increasing $958,000 from the linked quarter and $606,000 from the year-ago quarter. The increase from comparable periods reflects selective senior hires including client-facing commercial banking talent, and moderate increases in salaries. Comparisons to prior periods were also affected by non-cash compensation-related costs, partially offset by the favorable impact of non-operating recoveries from medical claim refunds under the Company’s self-insured health plan.

Building and occupancy expense was $1.4 million in the third quarter of 2026, decreasing $29,000 from the linked quarter and $48,000 from the year-ago quarter. The decreases from the linked and year-ago quarters reflected lower facility-related maintenance and repair expenses, including ATM servicing, branch maintenance and various property improvement activities.

Data processing expense was $705,000 in the third quarter of 2026, decreasing $69,000 from the linked quarter and increasing $64,000 from the year-ago period. The decrease from the linked quarter reflected lower data, ATM, and other technology maintenance costs. The increase from the year-ago period primarily reflected higher technology maintenance costs.

Other noninterest expenses were $301,000 in the third quarter of 2026, decreasing $313,000 from the linked quarter and $301,000 from the year-ago quarter. The decreases from both the linked and year-ago quarters were primarily attributable to non-cash compensation-related costs.

As a percentage of average assets, annualized noninterest expense represented 2.51% in the third quarter of 2026, compared to 2.39% and 2.40% in the linked and year-ago periods. The efficiency ratio was 78.13% in the third quarter of 2026, compared to 74.26% and 68.78% in the linked and year-ago periods, respectively⁽²⁾. While noninterest expense reflects strategic investments in personnel and growth initiatives, the efficiency ratio was elevated in the first nine months of 2026, primarily due to lower revenue when compared to the prior-year period, which the Company views as temporary.

_{⁽²⁾ Non-GAAP financial metric. See “Notes on Non-GAAP Financial Measures” and non-GAAP reconciliation included herein for the most directly comparable financial measures.}

Net Income
Net income was $2.1 million, or $0.33 per basic share and $0.32 per diluted share, in the third quarter of 2026, compared to $2.7 million, or $0.42 per basic and diluted share, in the second quarter of 2026, and $626,000, or $0.10 per basic and diluted share, in the third quarter of 2025.

Statement of Financial Condition
As of September 30, 2026, the Company’s statement of financial condition reflects total assets of $1.49 billion, compared to $1.49 billion on June 30, 2026, and $1.47 billion on September 30, 2025.

Loans totaled $873.0 million on September 30, 2026, decreasing $16.0 million or 1.8% during the third quarter of 2026 and $25.5 million or 2.8% from one year prior. Consumer and residential loans totaled $342.1 million on September 30, 2026, decreasing $3.1 million or 0.9% during the third quarter of 2026 and $14.1 million or 4.0% from one year prior. Commercial loans totaled $531.6 million on September 30, 2026, decreasing $13.0 million or 2.4% during the third quarter of 2026 and $12.1 million or 2.2% from one year prior.

Investment securities totaled $465.6 million on September 30, 2026, decreasing $11.9 million or 2.5% during the third quarter of 2026 and increasing $28.6 million or 6.6% from one year prior. The increase from September 30, 2025 was primarily due to the purchase of AFS securities late in the second quarter of 2026, enabling the Company to generate incremental earnings while preserving the flexibility to use core deposits to fund future loan growth, even as the held-to maturity (“HTM”) portfolio experienced runoff from maturities, calls, and paydowns.

With respect to liabilities, deposits totaled $1.16 billion on September 30, 2026, decreasing $15.8 million or 1.3% during the third quarter of 2026 and $66.6 million or 5.4% from one year prior, as the Bank utilizes deliberate pricing and account management to facilitate intentional runoff of higher-cost brokered deposits and non-relationship time deposits. The decrease from the prior three and twelve months was primarily due to reductions in brokered and time deposits, which were partially offset by growth in MMDA balances. The decrease also reflected municipal deposit seasonality.

Core deposits totaled $957.1 million, or 82.62% of total deposits, on September 30, 2026, decreasing $4.5 million or 0.5% during the third quarter of 2026 and $3.0 million or 0.3% from one year prior.

Borrowings were utilized in the third quarter of 2026 to fund purchases of AFS securities at rates below those of wholesale funding alternatives, including brokered deposits. As a result, borrowings grew to $155.5 million on September 30, 2026, increasing $22.2 million during the third quarter of 2026 and $98.9 million from one year prior.

Shareholders’ equity totaled $118.8 million on September 30, 2026, decreasing $7.0 million or 5.6% during the third quarter of 2026 and $7.6 million or 6.0% from one year prior. The decrease from June 30, 2026 primarily reflected an $8.7 million increase in accumulated other comprehensive loss (“AOCL”), driven by the decline in fair value of AFS mortgage-backed securities in a rising interest rate environment, which was partially offset by favorable interest rate hedging activity, as well as a $1.4 million increase in retained earnings and a $277,000 increase in additional paid in capital.

Asset Quality
The Company’s asset quality metrics reflect ongoing efforts the Bank is undertaking as part of its commitment to continuously improve its credit risk management approach.

The Company believes it is sufficiently collateralized and reserved, with an ACL of $22.7 million on September 30, 2026, compared to $26.9 million on June 30, 2026, and $18.7 million on September 30, 2025. During the third quarter of 2026, the Company charged off $3.7 million in commercial loans with unique risk characteristics (“LURCs”) that had been identified through last year’s comprehensive commercial portfolio review. The charge-off was fully covered by previously established ACL reserves. As a percentage of total loans, the ACL represented 2.60% on September 30, 2026, 3.03% on June 30, 2026, and 2.08% on September 30, 2025.

The ACL continues to reflect the $11.4 million risk-based reserve build recorded at the end of 2025, following a forward-looking assessment of LURCs identified through a comprehensive review of approximately 90% of the Bank’s commercial portfolio. Specific reserves, including those established in conjunction with 2025’s comprehensive commercial portfolio review, represented 57.4% of the Company’s ACL at the end of the third quarter of 2026.

Individually analyzed loans (“IALs”) including LURCs totaled $73.5 million on September 30, 2026, improving from $78.6 million on June 30, 2026. At the end of the third quarter of 2026, LURCs consisted of 70% commercial real estate (“CRE”) loans, which had a weighted average loan-to-value (“LTV”) ratio of 66%⁽³⁾.

Nonperforming loan (“NPL”) levels may fluctuate near term as IALs progress through resolution activities. NPLs were $30.3 million, or 3.47% of total loans, on September 30, 2026, compared to $35.7 million, or 4.02% of total loans on June 30, 2026, and $23.3 million or 2.59% of total loans on September 30, 2025.

The Company recorded third quarter 2026 NCOs of $4.3 million, or an annualized 1.96% of average loans, primarily related to previously identified commercial IALs and charged against reserves established in prior periods, with gross charge-offs partially offset by $197,000 in recoveries.

Provision for credit loss expense was $231,000 in the third quarter of 2026, attributed primarily to quantitative and qualitative factor adjustments to the ACL. A credit loss provision benefit of $155,000 was recorded in the second quarter of 2026 and the provision for credit loss expense was $3.5 million in the third quarter of 2025.

_{⁽³⁾ Weighted average LTV is the loan principal balance as a percentage of book balance for commercial real estate (CRE) individually analyzed loans, excluding two loans with LTVs >100% based on collateral that is expected to be sold to new owners or sponsors intending to reposition these transitional or value-add properties. Collateral values are determined using most-recent appraisals, purchase offers, auction bids, broker opinions, and business financials.}

Liquidity
The Company has diligently ensured a strong liquidity profile as of September 30, 2026 to meet its ongoing financial obligations. The Bank’s liquidity management, as evaluated by its cash reserves and operational cash flows from loan repayments and investment securities, remains robust and is effectively managed by the institution’s leadership.

The Bank’s analysis indicates that expected cash inflows from loans and investment securities are more than sufficient to meet all projected financial obligations. Total deposits were $1.16 billion on September 30, 2026, compared to $1.17 billion on June 30, 2026, and $1.23 billion on September 30, 2025. Core deposits, as a percentage of total deposits, represented 82.62% on September 30, 2026, compared to 81.89% on June 30, 2026, and 78.37% on September 30, 2025. The Bank continues to implement strategic initiatives to enhance its core deposit franchise, including targeted marketing campaigns and customer engagement programs aimed at deepening banking relationships and enhancing deposit stability.

On September 30, 2026, the Bank had an available additional funding capacity of $90.6 million with the Federal Home Loan Bank of New York and $31.2 million with the Federal Reserve Bank, which complements its liquidity reserves. Moreover, the Bank maintains additional unused credit lines totaling $15.0 million, which provide a buffer for additional funding needs. These facilities, including access to the Federal Reserve’s Discount Window, are part of a comprehensive liquidity strategy that ensures flexibility and readiness to respond to any funding requirements.

Cash Dividend Declared
On September 28, 2026, Pathfinder’s Board of Directors declared a cash dividend of $0.10 per share for holders of both voting common and non-voting common stock.

Shareholders registered by October 16, 2026 will be eligible for the dividend, which is scheduled for disbursement on November 6, 2026. This distribution aligns with Pathfinder Bancorp’s philosophy of consistent and reliable delivery of shareholder value.

Evaluating the Company’s market performance, the closing stock price as of September 30, 2026 stood at $16.88 per share. This positions the annualized dividend yield at 2.37%.

About Pathfinder Bancorp, Inc.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) is the bank holding company for Pathfinder Bank, which serves Central New York customers throughout Oswego, Syracuse, and their neighboring communities. Strategically located branches, as well as diversified consumer, mortgage, and commercial loan portfolios, reflect the state-chartered Bank’s commitment to in-market relationships and local customer service. The Company also offers investment services to individuals and businesses. More information is available at pathfinderbank.com and ir.pathfinderbank.com.

Forward-Looking Statements
Certain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements concern the financial condition, results of operations, plans, objectives, future performance and business of the Company and its subsidiaries, including, but not limited to, the Bank, and include statements regarding future credit costs and asset quality; the resolution of previously identified commercial credits; the adequacy of the allowance for credit losses; loan growth and anticipated commercial loan originations; deposit levels, deposit mix and deposit pricing; funding costs and access to funding; and the potential effects of economic conditions, interest rates and regional economic development on the Company’s business.

Forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are based on current beliefs and expectations of the Company’s and the Bank’s management and are inherently subject to significant business, economic, competitive and regulatory uncertainties and contingencies, many of which are beyond the Company’s and the Bank’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change.

Actual results may differ materially from those expressed or implied by the forward-looking statements as a result of numerous factors. Although it is not possible to identify all factors that may cause actual results to differ, such factors include, but are not limited to: risks related to the real estate and economic environment, particularly in the market areas in which the Company and the Bank operate; fiscal and monetary policies of the U.S. Government; inflation; changes in prevailing interest rates; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; the risk that actual credit losses, borrower performance, collateral values, or loan migration patterns differ from management’s forward-looking estimates or assumptions; fluctuations in the adequacy of the allowance for credit losses; decreases in deposit levels or changes in deposit mix that may necessitate increased borrowing to fund loans and investments; access to wholesale or other funding sources; operational risks including, cybersecurity, fraud, model risk and natural disasters; credit risk management; volatility or adverse trends in the securities markets that could affect the value of the Company’s investment portfolio or broader financial conditions; and the risk that the Company may not be successful in the implementation of its business strategy.

Additional factors that could cause actual results to differ materially are described in the Company’s Annual Report on Form 10-K and other periodic filings with the Securities and Exchange Commission (“SEC”), which are available at the SEC’s website, www.sec.gov.  While the Company believes it has identified and discussed the material risks affecting its business, there may be additional risks and uncertainties not currently known or considered immaterial that could affect the forward-looking statements made herein.

Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of future results. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Notes on Non-GAAP Financial Measures
This release contains certain non-GAAP financial measures, including, but not limited to the efficiency ratio, pre-tax, pre-provision net income, tangible common equity, tangible book value per share, and return on average tangible common equity. For purposes of SEC Regulation G, a non-GAAP financial measure is a numerical measure of a registrant’s historical or future financial performance, financial position, or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“GAAP”), or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable GAAP measure.

The Company believes these non-GAAP financial measures provide useful information to investors by assisting in the evaluation of the Company’s operating performance, operating efficiency, financial condition, and trends, and by facilitating comparisons with prior periods and with peer institutions. In particular, management uses these measures to assess expense control relative to revenue generation, underlying profitability excluding certain non-recurring or non-operational items, and capital strength on a basis that it believes is meaningful for internal planning and external analysis.

These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP and should be considered only in conjunction with the Company’s GAAP financial results.

Pursuant to the requirements of SEC Regulation G, the Company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures within this release.  

Investor/Media Contacts        
James A. Dowd, President, CEO
Justin K. Bigham, Executive Vice President, CFO
Telephone: (315) 343-0057

PATHFINDER BANCORP, INC.
Selected Financial Information (Unaudited)
(Dollars in thousands, except per share amounts)
		2026								2025
SELECTED BALANCE SHEET DATA:		September 30,				June 30,				March 31,				December 31,				September 30,
ASSETS:
Cash and due from banks		$	17,452			$	11,402			$	13,915			$	11,521			$	19,317
Interest-earning deposits			24,243				14,648				25,244				19,649				21,255
Total cash and cash equivalents			41,695				26,050				39,159				31,170				40,572
Available-for-sale securities, at fair value			359,991				366,147				272,971				276,815				294,457
Held-to-maturity securities, at amortized cost			105,629				111,371				122,432				130,324				142,538
Marketable equity securities, at fair value			6,739				6,213				6,207				6,034				5,352
Federal Home Loan Bank stock, at cost			7,033				6,935				2,169				2,560				3,488
Total investments			479,392				490,666				403,779				415,733				445,835
Loans held-for-sale			5,700				5,700				5,700				5,900				–
Loans, net of deferred fees			873,002				888,975				895,202				896,670				898,520
Less: Allowance for credit losses			22,737				26,920				28,966				29,436				18,654
Loans receivable, net			850,265				862,055				866,236				867,234				879,866
Premises and equipment, net			17,540				17,669				17,882				18,008				18,760
Operating lease right-of-use assets			1,019				1,046				1,072				1,098				1,124
Finance lease right-of-use assets			15,291				15,489				15,687				15,885				16,082
Accrued interest receivable			6,231				6,511				5,832				6,328				6,498
Foreclosed real estate			83				137				137				137				137
Intangible assets, net			4,891				5,048				5,205				5,362				5,518
Goodwill			5,056				5,056				5,056				5,056				5,056
Bank owned life insurance			31,952				31,671				31,631				31,374				31,145
Other assets			32,494				25,405				24,606				23,351				21,675
Total assets		$	1,491,609			$	1,492,503			$	1,421,982			$	1,426,636			$	1,472,268
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Deposits:
Interest-bearing deposits		$	883,481			$	879,727			$	917,967			$	885,558			$	906,844
Noninterest-bearing deposits			203,694				213,563				206,635				196,377				196,299
Brokered deposits			71,336				80,979				87,125				101,913				121,938
Total deposits			1,158,511				1,174,269				1,211,727				1,183,848				1,225,081
Short-term borrowings			150,000				125,000				15,000				44,000				38,000
Long-term borrowings			5,549				8,374				12,374				14,074				18,702
Subordinated debt			30,155				30,155				30,155				30,155				30,258
Accrued interest payable			278				469				451				424				1,134
Operating lease liabilities			1,236				1,259				1,282				1,304				1,326
Finance lease liabilities			16,108				16,201				16,295				16,390				16,479
Other liabilities			11,007				11,032				11,115				13,990				14,949
Total liabilities			1,372,844				1,366,759				1,298,399				1,304,185				1,345,929
Shareholders’ equity:
Voting common stock shares issued and outstanding			4,898,360				4,898,360				4,876,213				4,805,361				4,794,225
Voting common stock		$	49			$	49			$	49			$	48			$	48
Non-voting common stock			14				14				14				14				14
Additional paid in capital			55,901				55,624				55,095				54,390				53,974
Retained earnings			78,622				77,180				75,140				73,366				79,560
Accumulated other comprehensive loss			(15,821	)			(7,123	)			(6,715	)			(5,367	)			(7,257	)
Total shareholders’ equity			118,765				125,744				123,583				122,451				126,339
Total liabilities and shareholders’ equity		$	1,491,609			$	1,492,503			$	1,421,982			$	1,426,636			$	1,472,268

_{The above information is unaudited and preliminary, based on the Company’s data available at the time of presentation.}

		Nine Months Ended September 30,								2026												2025
SELECTED INCOME STATEMENT DATA:		2026				2025				Q3				Q2				Q1				Q4				Q3
Interest and dividend income:
Loans, including fees		$	37,606			$	40,577			$	12,679			$	12,570			$	12,357			$	12,983			$	13,799
Debt securities:
Taxable			14,897				16,014				5,378				4,920				4,599				4,681				5,307
Tax-exempt			1,074				1,322				371				368				335				385				455
Dividends			236				158				100				87				49				83				44
Federal funds sold and interest-earning deposits			401				288				116				123				162				162				131
Total interest and dividend income			54,214				58,359				18,644				18,068				17,502				18,294				19,736
Interest expense:
Interest on deposits			18,204				21,220				5,889				6,182				6,133				6,768				6,957
Interest on short-term borrowings			2,211				1,606				1,341				604				266				365				566
Interest on long-term borrowings			257				264				44				99				114				123				127
Interest on subordinated debt			1,955				1,444				659				647				649				528				486
Total interest expense			22,627				24,534				7,933				7,532				7,162				7,784				8,136
Net interest income			31,587				33,825				10,711				10,536				10,340				10,510				11,600
(Benefit from) provision for credit losses:
Loans			(217	)			5,018				151				(182	)			(186	)			11,385				3,341
Held-to-maturity securities			(22	)			5				–				(22	)			–				(86	)			–
Unfunded commitments			147				125				80				49				18				(105	)			153
Total (benefit from) provision for credit losses, net			(92	)			5,148				231				(155	)			(168	)			11,194				3,494
Net interest income after provision for (benefit from) credit losses			31,679				28,677				10,480				10,691				10,508				(684	)			8,106
Noninterest income:
Service charges on deposit accounts			1,148				1,158				391				381				376				381				404
Earnings and gain on bank owned life insurance			867				604				281				330				256				230				286
Loan servicing fees			221				311				64				68				89				75				113
Net realized gain (loss) on sales and redemptions of investment securities			34				(20	)			39				–				(5	)			(3	)			(12	)
Loss on asset sale			–				–				–				–				–				(115	)			–
Net unrealized gain (loss) on marketable equity securities			95				783				72				(53	)			76				667				145
Gain on sales of loans and foreclosed real estate			377				269				96				95				186				133				121
Fair value adjustment to loans held-for-sale 1			(203	)			(3,064	)			–				–				(203	)			(398	)			–
Loss on sale of premises and equipment			–				–				–				–				–				(37	)			–
Debit card interchange fees			526				398				199				188				139				112				217
Other charges, commissions & fees			683				743				255				215				213				268				229
Total noninterest income			3,748				1,182				1,397				1,224				1,127				1,313				1,503
Noninterest expense:
Salaries and employee benefits			15,121				13,980				5,611				4,653				4,857				4,924				5,005
Building and occupancy			4,058				3,976				1,351				1,380				1,327				1,337				1,399
Data processing			2,212				1,974				705				774				733				698				641
Professional and other services			1,925				2,093				617				628				680				657				709
Advertising			257				304				102				66				89				155				86
FDIC assessments			712				400				276				232				204				204				171
Audits and exams			419				306				140				139				140				169				132
Amortization expense			470				470				156				157				157				157				156
Community service activities			37				49				15				1				21				21				10
Foreclosed real estate expense			107				76				80				18				9				30				26
Other expenses			1,390				1,803				301				614				475				798				602
Total noninterest expense			26,708				25,431				9,354				8,662				8,692				9,150				8,937
Income (loss) before provision for income taxes			8,719				4,428				2,523				3,253				2,943				(8,521	)			672
Provision for (benefit from) income taxes			1,569				797				454				585				530				(2,957	)			46
Net income (loss)		$	7,150			$	3,631			$	2,069			$	2,668			$	2,413			$	(5,564	)		$	626
Voting Earnings per common share – basic		$	1.13			$	0.58			$	0.33			$	0.42			$	0.38			$	(0.89	)		$	0.10
Voting Earnings per common share – diluted		$	1.12			$	0.57			$	0.32			$	0.42			$	0.38			$	(0.88	)		$	0.10
Series A Non-Voting Earnings per common share- basic		$	1.13			$	0.58			$	0.33			$	0.42			$	0.38			$	(0.89	)		$	0.10
Series A Non-Voting Earnings per common share- diluted		$	1.12			$	0.57			$	0.32			$	0.42			$	0.38			$	(0.88	)		$	0.10
Dividends per common share (Voting and Series A Non-Voting)		$	0.30			$	0.30			$	0.10			$	0.10			$	0.10			$	0.10			$	0.10

_{¹ The loss reflects a valuation adjustment “Lower-of-cost-or-market” adjustment on loans held for sale to their estimated market value based on active sale negotiations.}

_{The above information is unaudited and preliminary, based on the Company’s data available at the time of presentation.}

		Nine Months Ended September 30,								2026												2025
FINANCIAL HIGHLIGHTS:		2026				2025				Q3				Q2				Q1				Q4				Q3
Selected Ratios:
Return on average assets			0.66	%			0.33	%			0.56	%			0.73	%			0.68	%			-1.54	%			0.17	%
Return on average common equity			7.64	%			3.87	%			6.60	%			8.56	%			7.78	%			-17.29	%			1.98	%
Return on average equity			7.64	%			3.87	%			6.60	%			8.56	%			7.78	%			-17.29	%			1.98	%
Return on average tangible common equity 1			8.35	%			4.25	%			7.12	%			9.34	%			8.61	%			-18.67	%			2.17	%
Net interest margin			3.08	%			3.25	%			3.07	%			3.08	%			3.10	%			3.09	%			3.34	%
Loans / deposits			75.36	%			73.34	%			75.36	%			75.70	%			73.88	%			75.74	%			73.34	%
Annualized noninterest expense / average assets			2.46	%			2.30	%			2.51	%			2.39	%			2.48	%			2.51	%			2.40	%
Commercial real estate / risk-based capital 2			185.23	%			174.67	%			185.23	%			187.11	%			189.84	%			190.37	%			174.67	%
Efficiency ratio 1			76.03	%			67.24	%			78.13	%			74.26	%			75.65	%			74.96	%			68.78	%
Other Selected Data:
Average yield on loans			5.60	%			5.94	%			5.72	%			5.59	%			5.48	%			5.74	%			6.09	%
Average cost of interest-bearing deposits			2.47	%			2.76	%			2.48	%			2.48	%			2.45	%			2.68	%			2.71	%
Average cost of total deposits, including noninterest-bearing			2.06	%			2.31	%			2.04	%			2.07	%			2.06	%			2.24	%			2.28	%
Deposits/branch		$	96,543			$	102,090			$	96,543			$	97,856			$	100,977			$	98,654			$	102,090
Pre-tax, pre-provision net income 1		$	8,419			$	12,391			$	2,619			$	3,003			$	2,797			$	3,056			$	4,057
Total revenue 1		$	35,127			$	37,822			$	11,973			$	11,665			$	11,489			$	12,206			$	12,994
Share and Per Share Data:
Cash dividends per share		$	0.30			$	0.30			$	0.10			$	0.10			$	0.10			$	0.10			$	0.10
Book value per common share		$	18.91			$	20.46			$	18.91			$	20.03			$	19.75			$	19.80			$	20.46
Tangible book value per common share 1		$	17.33			$	18.75			$	17.33			$	18.42			$	18.11			$	18.11			$	18.75
Basic weighted average shares outstanding – Voting			4,876				4,769				4,898				4,890				4,838				4,799				4,790
Diluted weighted average shares outstanding – Voting			4,946				4,821				4,995				4,956				4,885				4,859				4,842
Basic earnings per share – Voting 3		$	1.13			$	0.58			$	0.33			$	0.42			$	0.38			$	(0.89	)		$	0.10
Diluted earnings per share – Voting 3		$	1.12			$	0.57			$	0.32			$	0.42			$	0.38			$	(0.88	)		$	0.10
Basic and diluted weighted average shares outstanding – Series A Non-Voting			1,380				1,380				1,380				1,380				1,380				1,380				1,380
Basic earnings per share – Series A Non-Voting 3		$	1.13			$	0.58			$	0.33			$	0.42			$	0.38			$	(0.89	)		$	0.10
Diluted earnings per share – Series A Non-Voting 3		$	1.12			$	0.57			$	0.32			$	0.42			$	0.38			$	(0.88	)		$	0.10
Common shares outstanding at period end			6,279				6,175				6,279				6,279				6,256				6,186				6,175
Pathfinder Bancorp, Inc. Capital Ratios:
Company tangible common equity to tangible assets 1			7.34	%			7.92	%			7.34	%			7.80	%			8.03	%			7.91	%			7.92	%
Company Total Core Capital (to Risk-Weighted Assets)			16.06	%			15.81	%			16.06	%			15.91	%			16.18	%			15.57	%			15.81	%
Company Tier 1 Capital (to Risk-Weighted Assets)			12.41	%			12.17	%			12.41	%			12.25	%			12.43	%			12.29	%			12.17	%
Company Tier 1 Common Equity (to Risk-Weighted Assets)			11.92	%			11.68	%			11.92	%			11.76	%			11.92	%			11.78	%			11.68	%
Company Tier 1 Capital (to Assets)			8.90	%			8.79	%			8.90	%			8.93	%			8.95	%			8.57	%			8.79	%
Pathfinder Bank Capital Ratios:
Bank Total Core Capital (to Risk-Weighted Assets)			14.80	%			14.71	%			14.80	%			14.62	%			14.87	%			14.72	%			14.71	%
Bank Tier 1 Capital (to Risk-Weighted Assets)			13.54	%			13.45	%			13.54	%			13.36	%			13.59	%			13.45	%			13.45	%
Bank Tier 1 Common Equity (to Risk-Weighted Assets)			13.54	%			13.45	%			13.54	%			13.36	%			13.59	%			13.45	%			13.45	%
Bank Tier 1 Capital (to Assets)			9.58	%			9.72	%			9.58	%			9.64	%			9.79	%			9.41	%			9.72	%

_{¹ Non-GAAP financial metrics. See non-GAAP reconciliation included herein for the most directly comparable GAAP measures.
² Construction and development, multifamily, and non-owner occupied CRE loans as a percentage of Pathfinder Bank total capital.
³ Basic and diluted earnings per share are calculated based upon the two-class method.}

_{The above information is unaudited and preliminary, based on the Company’s data available at the time of presentation.}

		Nine Months Ended September 30,								2026												2025
ASSET QUALITY:		2026				2025				Q3				Q2				Q1				Q4				Q3
Total loan charge-offs		$	7,458			$	1,431			$	4,531			$	2,162			$	765			$	767			$	923
Total recoveries			976				421				197				298				481				163				253
Net loan charge-offs			6,482				1,010				4,334				1,864				284				604				670
Allowance for credit losses at period end			22,737				18,654				22,737				26,920				28,966				29,436				18,654
Nonperforming loans at period end			30,256				23,305				30,256				35,710				38,160				27,561				23,305
Nonperforming assets at period end		$	30,339			$	23,442			$	30,339			$	35,847			$	38,297			$	27,698			$	23,442
Annualized net loan charge-offs to average loans			0.96	%			0.15	%			1.96	%			0.83	%			0.13	%			0.27	%			0.30	%
Allowance for credit losses to period end loans			2.60	%			2.08	%			2.60	%			3.03	%			3.24	%			3.28	%			2.08	%
Allowance for credit losses to nonperforming loans			75.15	%			80.04	%			75.15	%			75.39	%			75.91	%			106.80	%			80.04	%
Nonperforming loans to period end loans			3.47	%			2.59	%			3.47	%			4.02	%			4.26	%			3.07	%			2.59	%
Nonperforming assets to period end assets			2.03	%			1.59	%			2.03	%			2.40	%			2.69	%			1.94	%			1.59	%

		2026								2025
LOAN COMPOSITION:		September 30,				June 30,				March 31,				December 31,				September 30,
1-4 family first-lien residential mortgages		$	230,661			$	233,501			$	234,027			$	239,692			$	238,975
Residential construction			2,150				1,242				1,259				2,039				1,406
Commercial real estate			388,436				388,154				384,739				380,311				371,683
Commercial lines of credit			73,240				77,886				80,238				75,371				79,021
Other commercial and industrial			69,406				75,987				77,863				81,210				86,687
Paycheck protection program loans			31				41				49				63				74
Tax exempt commercial loans			506				2,512				6,581				6,716				6,229
Home equity and junior liens			55,157				53,219				51,442				49,783				50,106
Other consumer			54,137				57,232				60,278				62,825				65,694
Subtotal loans			873,724				889,774				896,476				898,010				899,875
Deferred loan fees			(722	)			(799	)			(1,274	)			(1,340	)			(1,355	)
Total loans		$	873,002			$	888,975			$	895,202			$	896,670			$	898,520

		2026								2025
DEPOSIT COMPOSITION:		September 30,				June 30,				March 31,				December 31,				September 30,
Savings accounts		$	122,450			$	124,090			$	127,044			$	122,718			$	123,958
Time accounts			246,464				262,689				283,693				317,201				333,211
Time accounts in excess of $250,000			130,056				131,672				130,857				134,779				143,026
Money management accounts			7,837				8,078				8,483				9,539				9,539
MMDA accounts			326,608				303,701				315,982				285,564				298,653
Demand deposit interest-bearing			116,290				124,031				134,399				110,702				115,274
Demand deposit noninterest-bearing			203,694				213,563				206,635				196,377				196,299
Mortgage escrow funds			5,112				6,445				4,634				6,968				5,121
Total deposits		$	1,158,511			$	1,174,269			$	1,211,727			$	1,183,848			$	1,225,081
Brokered deposits			71,336				80,979				87,125				101,913				121,938
Nonbrokered time accounts in excess of $250,000			130,056				131,672				130,857				134,779				143,026
Non-core deposits			201,392				212,651				217,982				236,692				264,964
Core deposits 1		$	957,119			$	961,618			$	993,745			$	947,156			$	960,117
Core deposits/deposits			82.62	%			81.89	%			82.01	%			80.01	%			78.37	%
Non-time deposits/deposits			67.50	%			66.42	%			65.79	%			61.82	%			61.13	%

_{¹ Nonbrokered deposits excluding certificates of deposit of $250,000 or more.}

_{The above information is unaudited and preliminary, based on the Company’s data available at the time of presentation.}

		Nine Months Ended September 30,								2026									2025
SELECTED AVERAGE BALANCES:		2026				2025				Q3				Q2				Q3
Interest-earning assets:
Loans		$	896,117			$	911,419			$	885,978			$	899,975			$	906,759
Taxable investment securities			418,377				427,656				456,835				420,211				431,227
Tax-exempt investment securities			33,046				34,254				32,588				33,088				33,980
Federal funds sold and interest-earning deposits			19,193				13,306				20,818				15,622				16,866
Total interest-earning assets			1,366,733				1,386,635				1,396,219				1,368,896				1,388,832
Noninterest-earning assets:
Other assets			120,496				116,001				120,348				120,721				114,837
Allowance for credit losses			(28,237	)			(16,777	)			(26,455	)			(28,853	)			(15,595	)
Net unrealized losses on available-for-sale securities			(7,993	)			(10,245	)			(10,323	)			(8,045	)			(9,949	)
Total assets		$	1,450,999			$	1,475,614			$	1,479,789			$	1,452,719			$	1,478,125
Interest-bearing liabilities:
NOW accounts		$	122,182			$	115,494			$	117,738			$	123,208			$	120,696
Money management accounts			8,553				10,435				8,090				8,471				10,105
MMDA accounts			307,366				277,306				303,625				319,863				276,599
Savings and club accounts			125,431				129,059				124,376				126,652				127,696
Time deposits			417,706				493,033				394,189				418,106				490,735
Subordinated debt			30,155				30,174				30,155				30,155				30,225
Borrowings			86,061				68,656				141,887				75,195				73,556
Total interest-bearing liabilities			1,097,454				1,124,157				1,120,060				1,101,650				1,129,612
Noninterest-bearing liabilities:
Demand deposits			198,291				197,053				204,478				196,289				192,982
Other liabilities			30,535				29,436				29,850				30,050				29,320
Total liabilities			1,326,280				1,350,646				1,354,388				1,327,989				1,351,914
Shareholders’ equity			124,719				124,968				125,401				124,730				126,211
Total liabilities & shareholders’ equity		$	1,450,999			$	1,475,614			$	1,479,789			$	1,452,719			$	1,478,125

		Nine Months Ended September 30,								2026									2025
SELECTED AVERAGE YIELDS:		2026				2025				Q3				Q2				Q3
Interest-earning assets:
Loans			5.60	%			5.94	%			5.72	%			5.59	%			6.09	%
Taxable investment securities			4.82	%			5.04	%			4.80	%			4.77	%			4.96	%
Tax-exempt investment securities			4.33	%			5.15	%			4.55	%			4.45	%			5.36	%
Federal funds sold and interest-earning deposits			2.79	%			2.89	%			2.23	%			3.15	%			3.11	%
Total interest-earning assets			5.29	%			5.61	%			5.34	%			5.28	%			5.68	%
Interest-bearing liabilities:
NOW accounts			1.01	%			1.11	%			1.04	%			1.04	%			1.02	%
Money management accounts			0.09	%			0.11	%			0.10	%			0.09	%			0.12	%
MMDA accounts			2.69	%			3.17	%			2.71	%			2.71	%			3.20	%
Savings and club accounts			0.22	%			0.25	%			0.23	%			0.22	%			0.26	%
Time deposits			3.47	%			3.63	%			3.51	%			3.46	%			3.55	%
Subordinated debt			8.64	%			6.38	%			8.74	%			8.58	%			6.43	%
Borrowings			3.82	%			3.63	%			3.90	%			3.74	%			3.77	%
Total interest-bearing liabilities			2.75	%			2.91	%			2.83	%			2.73	%			2.88	%
Net interest rate spread			2.54	%			2.70	%			2.51	%			2.55	%			2.80	%
Net interest margin			3.08	%			3.25	%			3.07	%			3.08	%			3.34	%
Ratio of average interest-earning assets to average interest-bearing liabilities			124.54	%			123.35	%			124.66	%			124.26	%			122.95	%

_{The above information is unaudited and preliminary based on the Company’s data available at the time of presentation.}

		Nine Months Ended September 30,								2026												2025
NON-GAAP RECONCILIATIONS:		2026				2025				Q3				Q2				Q1				Q4				Q3
Tangible book value per common share:
Total equity										$	118,765			$	125,744			$	123,583			$	122,451			$	126,339
Intangible assets											(9,947	)			(10,104	)			(10,261	)			(10,418	)			(10,574	)
Tangible common equity (non-GAAP)											108,818				115,640				113,322				112,033				115,765
Common shares outstanding											6,279				6,279				6,256				6,186				6,175
Tangible book value per common share (non-GAAP)										$	17.33			$	18.42			$	18.11			$	18.11			$	18.75
Tangible common equity to tangible assets:
Tangible common equity (non-GAAP)										$	108,818			$	115,640			$	113,322			$	112,033			$	115,765
Tangible assets											1,481,662				1,482,399				1,411,721				1,416,218				1,461,694
Tangible common equity to tangible assets ratio (non-GAAP)											7.34	%			7.80	%			8.03	%			7.91	%			7.92	%
Return on average tangible common equity:
Average shareholders’ equity		$	124,719			$	124,968			$	125,401			$	124,730			$	124,011			$	128,743			$	126,211
Average intangible assets			10,205				10,833				10,051				10,206				10,363				10,520				10,677
Average tangible equity (non-GAAP)			114,514				114,135				115,350				114,524				113,648				118,223				115,534
Net income (loss)			7,150				3,631				2,069				2,668				2,413				(5,564	)			626
Net income (loss), annualized		$	9,560			$	4,855			$	8,209			$	10,701			$	9,786			$	(22,075	)		$	2,511
Return on average tangible common equity (non-GAAP) 1			8.35	%			4.25	%			7.12	%			9.34	%			8.61	%			-18.67	%			2.17	%
Revenue, pre-tax, pre-provision net income, and efficiency ratio:
Net interest income		$	31,587			$	33,825			$	10,711			$	10,536			$	10,340			$	10,510			$	11,600
Total noninterest income (loss)			3,748				1,182				1,397				1,224				1,127				1,313				1,503
Net realized gain (loss) on sales and redemptions of investment securities			34				(20	)			39				–				(5	)			(3	)			(12	)
Gain on sales of loans and foreclosed real estate			377				269				96				95				186				133				121
Fair value adjustment to loans held-for-sale 2			(203	)			(3,064	)			–				–				(203	)			(398	)			–
Loss on asset sale			–				–				–				–				–				(115	)			–
Revenue (non-GAAP) 3			35,127				37,822				11,973				11,665				11,489				12,206				12,994
Total noninterest expense			26,708				25,431				9,354				8,662				8,692				9,150				8,937
Pre-tax, pre-provision net income (non-GAAP) 4		$	8,419			$	12,391			$	2,619			$	3,003			$	2,797			$	3,056			$	4,057
Efficiency ratio (non-GAAP) 5			76.03	%			67.24	%			78.13	%			74.26	%			75.65	%			74.96	%			68.78	%

_{¹ Return on average tangible common equity equals annualized net income (loss) divided by average tangible equity.
² The loss reflects a valuation adjustment “Lower-of-cost-or-market” adjustment on loans held for sale to the estimated market value based on sale negotiation terms.
³ Revenue equals net interest income plus total noninterest income, less net realized gains or losses on sales and redemptions of investment securities, sales of loans and foreclosed real estate, fair value adjustment to loans held-for-sale, and sales of assets.
⁴ Pre-tax, pre-provision net income equals revenue less total noninterest expense.
⁵ Efficiency ratio equals noninterest expense divided by revenue.}

_{The above information is unaudited and preliminary based on the Company’s data available at the time of presentation.}