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Aspo Plc Interim Report November 2, 2026 at 9.00 EET

Aspo Plc’s Interim Report, January 1 – September 30, 2026: Demerger preparations progressed

This is a summary of the Interim Report January 1 – September 30, 2026 of Aspo Plc. The complete report is attached to this release and available at aspo.com.

July – September 2026

• Net sales from continuing operations was EUR 134.2 (108.1) million
• Comparable EBITA from continuing operations was EUR 8.5 (7.6) million, 6.3% (7.1%) of net sales. The comparable EBITA of ESL Shipping was EUR 2.5 (3.5) million and of Telko EUR 6.5 (4.8) million
• EBITA Group total was EUR 7.5 (10.3) million. EBITA of ESL Shipping was EUR 2.2 (4.6) million and of Telko EUR 6.3 (4.8) million and discontinued operation EUR 0.0 (1.8) million
• Comparable ROE Group total was 10.3% (14.1%)
• Comparable earnings per share from continuing operations were EUR 0.15 (0.09)
• Free cash flow was EUR -2.1 (-8.5) million mainly driven by investments in vessels and decrease in inventories

Figures from the corresponding period in 2025 are presented in brackets.

January – September 2026

• Net sales from continuing operations was EUR 379.4 (349.8) million
• Comparable EBITA from continuing operations was EUR 26.4 (22.4) million, 7.0% (6.4%) of net sales. The comparable EBITA of ESL Shipping was EUR 9.5 (12.7) million and of Telko EUR 19.4 (13.5) million
• EBITA Group total was EUR 37.3 (26.9) million. EBITA of ESL Shipping was EUR 9.2 (12.3) million, Telko EUR 19.1 (13.5) million, and discontinued operation EUR 13.1 (5.0) million
• Comparable ROE Group total was 16.8% (13.4%)
• Comparable earnings per share from continuing operations were EUR 0.65 (0.33)
• Free cash flow was EUR 33.2 (0.3) million driven by the divestment of Leipurin and investments in vessels.
• On March 2, 2026, Aspo completed the divestment of Leipurin to Lantmännen at an enterprise value of EUR 63 million.
• On August 3, 2026, Aspo Plc’s Board of Directors approved the demerger plan. The demerger is conditional upon approval by the Extraordinary General Meeting of Aspo, to be held on December 7, 2026.

Guidance for 2026

Aspo Group’s comparable EBITA from continuing operations is expected to increase compared with the previous year (EUR 29.4 million in 2025).

Aspo Group’s comparable EBITA from continuing operations excludes Leipurin, which is reported as a discontinued operation. The divestment of Leipurin was completed on March 2, 2026.

Assumptions behind the guidance
Economic growth is expected to slowly revive throughout the year in our core markets. However, geopolitical uncertainty, war in Iran, and global trade tensions may have a negative impact on economic growth, inflation, global trade and supply chains going forward. Aspo’s profit improvement for 2026 is expected to come mainly from various profit improvement actions in Telko and ESL Shipping, continued synergy capture facilitated by Telko’s new operating model, fleet renewal and improved fleet utilization in ESL Shipping and a reduction of Aspo-level costs. Expenses related to the execution of Aspo’s strategic transformation are excluded from Aspo’s comparable EBITA.

For ESL Shipping, demand is expected to grow in the fourth quarter of 2026, with spot market pricing also expected to improve.

For Telko, underlying volume demand is expected to be stable or slightly increase compared with the previous year. Price levels are expected to remain stable in the fourth quarter of 2026 compared with the current levels. Rapid changes in market prices continue to be possible due to market volatility.

Key figures

	7–9/2026	7–9/2025	1–9/2026	1–9/2025	1–12/2025
Net sales from continuing operations, MEUR	134.2	108.1	379.4	349.8	469.1
EBITA Group total, MEUR	7.5	10.3	37.3	26.9	43.1
EBITA from continuing operations, MEUR	7.5	8.6	24.1	21.9	36.8
Comparable EBITA from continuing operations, MEUR	8.5	7.6	26.4	22.4	29.4
Comparable EBITA from continuing operations, %	6.3	7.1	7.0	6.4	6.3
Profit for the period Group total, MEUR	4.0	6.0	32.1	16.4	28.0
Comparable profit for the period from continuing operations, MEUR	5.0	3.5	21.5	13.1	15.8
Earnings per share (EPS) Group total, EUR	0.12	0.17	0.99	0.43	0.72
Comparable EPS from continuing operations, EUR	0.15	0.09	0.65	0.33	0.34
Free cash flow, MEUR	-2.1	-8.5	33.2	0.3	26.5
Free cash flow per share, EUR	-0.1	-0.3	1.1	0.0	0.8
Comparable ROCE from continuing operations, %	8.6	8.4	9.3	8.2	8.3
Return on equity (ROE) Group total, %	8.3	16.2	23.9	12.9	15.9
Comparable ROE Group total, %	10.3	14.1	16.8	13.4	12.1
Invested capital from continuing operations, MEUR			397.5	373.8	355.6
Net debt Group total, MEUR			187.9	233.4	212.8
Net debt / comparable EBITDA, 12 months rolling			3.2	3.9	3.6
Equity per share, EUR			5.44	4.25	4.58
Equity ratio, %			40.1	28.9	31.9

The calculation principles of key figures are included in Aspo’s Board of Directors’ Report for the year 2025. The figures presented in this Interim Report have been individually rounded or calculated based on exact figures so the figures may not add to rounded totals.

Rolf Jansson, CEO of Aspo Group comments on the third quarter of 2026

“Aspo’s financial performance continued to improve in the third quarter of 2026. Aspo’s net sales from continuing operations in the third quarter grew by 12.4% compared to the same quarter in the previous year, when disregarding the income generated from the sale of one Green Coaster to the investor pool during the third quarter of 2026. Aspo’s comparable EBITA from continuing operations was EUR 8.5 (7.6) million, equaling 6.3% (7.1%) of net sales.

In the third quarter, ESL Shipping’s financial performance was dissatisfying with a comparable EBITA of EUR 2.5 (3.5) million. Profitability development was impacted by weak demand in most customer segments except for the steel industry and project cargo, and relatively low utilization rate of vessels. However, we already have strong evidence that the investments in the next generation fleet will both improve efficiency as well as support organic growth. In addition, the ongoing development program will improve fleet capacity utilization.

Telko’s financial performance continued to develop favorably with a comparable EBITA of EUR 6.5 (4.8) million. Net sales grew with 8.9% primarily driven by favorable market price development against previous year. Profitability development was particularly driven by top-line growth, combined with strong sales margin development and successful profitability improvement actions. The market continued to develop favorably for specialty chemicals distributors, with a continued outsourcing trend of producers’ commercial activities and overall, favorable market price development.

The Board of Directors of Aspo approved a demerger plan concerning the separation of ESL Shipping into a new listed company on August 3, 2026. The separation of ESL Shipping from Aspo aims to enable each business to more effectively execute its own focused strategies and profit growth opportunities and to increase the shareholder value.

Preparations for completing the demerger of Aspo on December 31, 2026, have since then progressed as planned. The future governance structures of both companies have been announced and actions executed for enabling ESL Shipping and Telko to operate as stand-alone companies.

If the planned demerger will be executed on December 31, 2026, this is the last quarter reporting Aspo’s financials with the current Group structure. The heritage of Aspo will continue as part of both ESL Shipping and Telko. Aspo Plc is planned to be renamed as Telko Group Plc in connection with the demerger. I want to thank all the parties who have been involved on this exciting journey!”  

Aspo Group

Progress towards Aspo’s strategic vision

On May 14, 2024, Aspo announced a vision to form two separate companies (Aspo Infra and Aspo Compounder). The goal was to enable value creation and continued growth for the businesses and to investigate strategic alternatives for them. On November 3, 2025, Aspo provided more detailed information on the main alternatives for the strategic evaluation: a divestment of ESL Shipping or the partial demerger of Aspo.

On August 3, 2026, the Board of Directors of Aspo completed its review and assessment of the strategic alternatives. As a result, the Board of Directors approved a demerger plan concerning a partial demerger of Aspo. According to the demerger plan, all shares in ESL Shipping Ltd held by Aspo together with the related assets and liabilities, will be transferred to a new, independent listed company, to be named ESL Shipping Group Plc. Aspo Plc would be renamed Telko Group Plc in connection with the demerger.

The demerger is conditional upon approval by the Extraordinary General Meeting (EGM) of Aspo, which will take place in Helsinki on December 7, 2026. The invitation to the Extraordinary General Meeting was published October 21, 2026. The resolution on the approval of the Demerger Plan and on the partial demerger shall be made by a qualified majority of two-thirds of the votes cast and the shares represented at the Extraordinary General Meeting. As part of the resolution on the demerger, the Extraordinary General Meeting shall decide on the members of the Board of Directors of both ESL Shipping Group and Telko Group.

In addition to the approval of the Extraordinary General Meeting, the demerger is conditional for the decision by Aspo’s Board of Directors to complete the demerger. The demerger is also conditional for the share exchange agreement signed by ESL Shipping Ltd, Aspo Plc and Lighthouse HoldCo Ky remaining in force on the completion date of the demerger. The planned completion date of the demerger is December 31, 2026.

Based on the assessment of the Board of Directors of Aspo, the demerger could increase shareholder value by enabling each business to more effectively execute its own focused strategies and profit growth opportunities. Due to the independent and separate operations of ESL Shipping Ltd and Telko Ltd, only limited synergies currently exist between the businesses. The businesses of Aspo differ significantly across several dimensions, including strategic focus, capital expenditure requirement, business time horizon, key performance indicators, and ESG focus areas. The demerger is expected to improve the performance and profitability of ESL Shipping Group and Telko Group through a reduction of complexity and stronger and unshared focus of the management and the Board of Directors. In addition, as two standalone companies, ESL Shipping Group and Telko Group could achieve faster organic and inorganic growth thanks to more tailored financing solutions and targeted capital allocation. Telko Group would benefit from having a more moderate leverage while implementing its new growth strategy. The new corporate structure would also allow the use of Telko Group’s shares for M&A purposes. Additionally, the independent companies could implement their growth strategies in parallel without being constrained anymore by the current conglomerate structure and prioritized development activities. 

Preparations for ESL Shipping Group to operate as an independent listed company and to achieve full IPO readiness have progressed according to plan. All agreements for financing the ongoing investment programs of next generation vessels and working capital have been signed. In November 2026, Aspo will publish a demerger and listing prospectus which will contain more detailed information on the demerger and the listing of ESL Shipping Group. In addition, the Capital Markets Day events on November 24, 2026, will offer deep dives to the growth strategies of both ESL Shipping Group and Telko Group.

Financial targets

The Board of Directors of Aspo has approved new medium-term financial targets and dividend policies for both ESL Shipping Group and Telko Group. The following financial targets and dividend policies are conditional upon the completion of the demerger and will become effective on the demerger completion date.

ESL Shipping Group:

• Comparable EBIT more than EUR 40 million in 2030
• Return on equity above 20%
• Equity ratio above 35%
• The goal is to annually distribute approximately 50% of profit for the period in dividends

The financing of ESL Shipping Group’s investment program will affect the equity ratio and dividend-paying capacity in the coming years, for the duration of the current significant investment program.

Telko Group:

• Net sales more than EUR 500 million in 2030
• Comparable EBITA margin above 8% in 2030
• Return on equity above 20%
• Net debt to comparable EBITDA below 2.5x
• The goal is to annually distribute approximately 30% of profit for the period in dividends

Espoo, November 2, 2026
Aspo Plc
Board of Directors

News conference for analysts, investors and media

A news conference for analysts, investors and the media will be held at Sanomatalo, Flik Studio Eliel, Töölönlahdenkatu 2, Helsinki on November 2, 2026, at 12.00 p.m. The event is also open to private investors. Participants are requested to register beforehand by emailing viestinta@aspo.com. The Interim Report will be presented by CEO Rolf Jansson.

The event will be held in English, and it can also be followed as a live webcast: https://aspo.events.inderes.com/q3-2026. Questions can be submitted via the webcast question form.

A recording of the event will be available later the same day on the company’s website aspo.com.

For more information, please contact:

Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com

Distribution: 
Nasdaq Helsinki
Key media
www.aspo.com

Attachment

• Aspo-Interim-Report-Q3-2026

Aspo Plc Interim Report November 2, 2026 at 9.00 EET

Aspo Plc’s Interim Report, January 1 – September 30, 2026: Demerger preparations progressed

This is a summary of the Interim Report January 1 – September 30, 2026 of Aspo Plc. The complete report is attached to this release and available at aspo.com.

July – September 2026

• Net sales from continuing operations was EUR 134.2 (108.1) million
• Comparable EBITA from continuing operations was EUR 8.5 (7.6) million, 6.3% (7.1%) of net sales. The comparable EBITA of ESL Shipping was EUR 2.5 (3.5) million and of Telko EUR 6.5 (4.8) million
• EBITA Group total was EUR 7.5 (10.3) million. EBITA of ESL Shipping was EUR 2.2 (4.6) million and of Telko EUR 6.3 (4.8) million and discontinued operation EUR 0.0 (1.8) million
• Comparable ROE Group total was 10.3% (14.1%)
• Comparable earnings per share from continuing operations were EUR 0.15 (0.09)
• Free cash flow was EUR -2.1 (-8.5) million mainly driven by investments in vessels and decrease in inventories

Figures from the corresponding period in 2025 are presented in brackets.

January – September 2026

• Net sales from continuing operations was EUR 379.4 (349.8) million
• Comparable EBITA from continuing operations was EUR 26.4 (22.4) million, 7.0% (6.4%) of net sales. The comparable EBITA of ESL Shipping was EUR 9.5 (12.7) million and of Telko EUR 19.4 (13.5) million
• EBITA Group total was EUR 37.3 (26.9) million. EBITA of ESL Shipping was EUR 9.2 (12.3) million, Telko EUR 19.1 (13.5) million, and discontinued operation EUR 13.1 (5.0) million
• Comparable ROE Group total was 16.8% (13.4%)
• Comparable earnings per share from continuing operations were EUR 0.65 (0.33)
• Free cash flow was EUR 33.2 (0.3) million driven by the divestment of Leipurin and investments in vessels.
• On March 2, 2026, Aspo completed the divestment of Leipurin to Lantmännen at an enterprise value of EUR 63 million.
• On August 3, 2026, Aspo Plc’s Board of Directors approved the demerger plan. The demerger is conditional upon approval by the Extraordinary General Meeting of Aspo, to be held on December 7, 2026.

Guidance for 2026

Aspo Group’s comparable EBITA from continuing operations is expected to increase compared with the previous year (EUR 29.4 million in 2025).

Aspo Group’s comparable EBITA from continuing operations excludes Leipurin, which is reported as a discontinued operation. The divestment of Leipurin was completed on March 2, 2026.

Assumptions behind the guidance
Economic growth is expected to slowly revive throughout the year in our core markets. However, geopolitical uncertainty, war in Iran, and global trade tensions may have a negative impact on economic growth, inflation, global trade and supply chains going forward. Aspo’s profit improvement for 2026 is expected to come mainly from various profit improvement actions in Telko and ESL Shipping, continued synergy capture facilitated by Telko’s new operating model, fleet renewal and improved fleet utilization in ESL Shipping and a reduction of Aspo-level costs. Expenses related to the execution of Aspo’s strategic transformation are excluded from Aspo’s comparable EBITA.

For ESL Shipping, demand is expected to grow in the fourth quarter of 2026, with spot market pricing also expected to improve.

For Telko, underlying volume demand is expected to be stable or slightly increase compared with the previous year. Price levels are expected to remain stable in the fourth quarter of 2026 compared with the current levels. Rapid changes in market prices continue to be possible due to market volatility.

Key figures

	7–9/2026	7–9/2025	1–9/2026	1–9/2025	1–12/2025
Net sales from continuing operations, MEUR	134.2	108.1	379.4	349.8	469.1
EBITA Group total, MEUR	7.5	10.3	37.3	26.9	43.1
EBITA from continuing operations, MEUR	7.5	8.6	24.1	21.9	36.8
Comparable EBITA from continuing operations, MEUR	8.5	7.6	26.4	22.4	29.4
Comparable EBITA from continuing operations, %	6.3	7.1	7.0	6.4	6.3
Profit for the period Group total, MEUR	4.0	6.0	32.1	16.4	28.0
Comparable profit for the period from continuing operations, MEUR	5.0	3.5	21.5	13.1	15.8
Earnings per share (EPS) Group total, EUR	0.12	0.17	0.99	0.43	0.72
Comparable EPS from continuing operations, EUR	0.15	0.09	0.65	0.33	0.34
Free cash flow, MEUR	-2.1	-8.5	33.2	0.3	26.5
Free cash flow per share, EUR	-0.1	-0.3	1.1	0.0	0.8
Comparable ROCE from continuing operations, %	8.6	8.4	9.3	8.2	8.3
Return on equity (ROE) Group total, %	8.3	16.2	23.9	12.9	15.9
Comparable ROE Group total, %	10.3	14.1	16.8	13.4	12.1
Invested capital from continuing operations, MEUR			397.5	373.8	355.6
Net debt Group total, MEUR			187.9	233.4	212.8
Net debt / comparable EBITDA, 12 months rolling			3.2	3.9	3.6
Equity per share, EUR			5.44	4.25	4.58
Equity ratio, %			40.1	28.9	31.9

The calculation principles of key figures are included in Aspo’s Board of Directors’ Report for the year 2025. The figures presented in this Interim Report have been individually rounded or calculated based on exact figures so the figures may not add to rounded totals.

Rolf Jansson, CEO of Aspo Group comments on the third quarter of 2026

“Aspo’s financial performance continued to improve in the third quarter of 2026. Aspo’s net sales from continuing operations in the third quarter grew by 12.4% compared to the same quarter in the previous year, when disregarding the income generated from the sale of one Green Coaster to the investor pool during the third quarter of 2026. Aspo’s comparable EBITA from continuing operations was EUR 8.5 (7.6) million, equaling 6.3% (7.1%) of net sales.

In the third quarter, ESL Shipping’s financial performance was dissatisfying with a comparable EBITA of EUR 2.5 (3.5) million. Profitability development was impacted by weak demand in most customer segments except for the steel industry and project cargo, and relatively low utilization rate of vessels. However, we already have strong evidence that the investments in the next generation fleet will both improve efficiency as well as support organic growth. In addition, the ongoing development program will improve fleet capacity utilization.

Telko’s financial performance continued to develop favorably with a comparable EBITA of EUR 6.5 (4.8) million. Net sales grew with 8.9% primarily driven by favorable market price development against previous year. Profitability development was particularly driven by top-line growth, combined with strong sales margin development and successful profitability improvement actions. The market continued to develop favorably for specialty chemicals distributors, with a continued outsourcing trend of producers’ commercial activities and overall, favorable market price development.

The Board of Directors of Aspo approved a demerger plan concerning the separation of ESL Shipping into a new listed company on August 3, 2026. The separation of ESL Shipping from Aspo aims to enable each business to more effectively execute its own focused strategies and profit growth opportunities and to increase the shareholder value.

Preparations for completing the demerger of Aspo on December 31, 2026, have since then progressed as planned. The future governance structures of both companies have been announced and actions executed for enabling ESL Shipping and Telko to operate as stand-alone companies.

If the planned demerger will be executed on December 31, 2026, this is the last quarter reporting Aspo’s financials with the current Group structure. The heritage of Aspo will continue as part of both ESL Shipping and Telko. Aspo Plc is planned to be renamed as Telko Group Plc in connection with the demerger. I want to thank all the parties who have been involved on this exciting journey!”  

Aspo Group

Progress towards Aspo’s strategic vision

On May 14, 2024, Aspo announced a vision to form two separate companies (Aspo Infra and Aspo Compounder). The goal was to enable value creation and continued growth for the businesses and to investigate strategic alternatives for them. On November 3, 2025, Aspo provided more detailed information on the main alternatives for the strategic evaluation: a divestment of ESL Shipping or the partial demerger of Aspo.

On August 3, 2026, the Board of Directors of Aspo completed its review and assessment of the strategic alternatives. As a result, the Board of Directors approved a demerger plan concerning a partial demerger of Aspo. According to the demerger plan, all shares in ESL Shipping Ltd held by Aspo together with the related assets and liabilities, will be transferred to a new, independent listed company, to be named ESL Shipping Group Plc. Aspo Plc would be renamed Telko Group Plc in connection with the demerger.

The demerger is conditional upon approval by the Extraordinary General Meeting (EGM) of Aspo, which will take place in Helsinki on December 7, 2026. The invitation to the Extraordinary General Meeting was published October 21, 2026. The resolution on the approval of the Demerger Plan and on the partial demerger shall be made by a qualified majority of two-thirds of the votes cast and the shares represented at the Extraordinary General Meeting. As part of the resolution on the demerger, the Extraordinary General Meeting shall decide on the members of the Board of Directors of both ESL Shipping Group and Telko Group.

In addition to the approval of the Extraordinary General Meeting, the demerger is conditional for the decision by Aspo’s Board of Directors to complete the demerger. The demerger is also conditional for the share exchange agreement signed by ESL Shipping Ltd, Aspo Plc and Lighthouse HoldCo Ky remaining in force on the completion date of the demerger. The planned completion date of the demerger is December 31, 2026.

Based on the assessment of the Board of Directors of Aspo, the demerger could increase shareholder value by enabling each business to more effectively execute its own focused strategies and profit growth opportunities. Due to the independent and separate operations of ESL Shipping Ltd and Telko Ltd, only limited synergies currently exist between the businesses. The businesses of Aspo differ significantly across several dimensions, including strategic focus, capital expenditure requirement, business time horizon, key performance indicators, and ESG focus areas. The demerger is expected to improve the performance and profitability of ESL Shipping Group and Telko Group through a reduction of complexity and stronger and unshared focus of the management and the Board of Directors. In addition, as two standalone companies, ESL Shipping Group and Telko Group could achieve faster organic and inorganic growth thanks to more tailored financing solutions and targeted capital allocation. Telko Group would benefit from having a more moderate leverage while implementing its new growth strategy. The new corporate structure would also allow the use of Telko Group’s shares for M&A purposes. Additionally, the independent companies could implement their growth strategies in parallel without being constrained anymore by the current conglomerate structure and prioritized development activities. 

Preparations for ESL Shipping Group to operate as an independent listed company and to achieve full IPO readiness have progressed according to plan. All agreements for financing the ongoing investment programs of next generation vessels and working capital have been signed. In November 2026, Aspo will publish a demerger and listing prospectus which will contain more detailed information on the demerger and the listing of ESL Shipping Group. In addition, the Capital Markets Day events on November 24, 2026, will offer deep dives to the growth strategies of both ESL Shipping Group and Telko Group.

Financial targets

The Board of Directors of Aspo has approved new medium-term financial targets and dividend policies for both ESL Shipping Group and Telko Group. The following financial targets and dividend policies are conditional upon the completion of the demerger and will become effective on the demerger completion date.

ESL Shipping Group:

• Comparable EBIT more than EUR 40 million in 2030
• Return on equity above 20%
• Equity ratio above 35%
• The goal is to annually distribute approximately 50% of profit for the period in dividends

The financing of ESL Shipping Group’s investment program will affect the equity ratio and dividend-paying capacity in the coming years, for the duration of the current significant investment program.

Telko Group:

• Net sales more than EUR 500 million in 2030
• Comparable EBITA margin above 8% in 2030
• Return on equity above 20%
• Net debt to comparable EBITDA below 2.5x
• The goal is to annually distribute approximately 30% of profit for the period in dividends

Espoo, November 2, 2026
Aspo Plc
Board of Directors

News conference for analysts, investors and media

A news conference for analysts, investors and the media will be held at Sanomatalo, Flik Studio Eliel, Töölönlahdenkatu 2, Helsinki on November 2, 2026, at 12.00 p.m. The event is also open to private investors. Participants are requested to register beforehand by emailing viestinta@aspo.com. The Interim Report will be presented by CEO Rolf Jansson.

The event will be held in English, and it can also be followed as a live webcast: https://aspo.events.inderes.com/q3-2026. Questions can be submitted via the webcast question form.

A recording of the event will be available later the same day on the company’s website aspo.com.

For more information, please contact:

Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com

Distribution: 
Nasdaq Helsinki
Key media
www.aspo.com

Attachment

• Aspo-Interim-Report-Q3-2026

The company returns to growth in the third quarter; EBITDA rises 10% to EUR 882,000

Madrid, November 2, 2026.- Listed technology services company Lleida.net (BME:LLN, EPA:ALLLN) posted revenue of EUR 4.666 million in the third quarter of 2026, up 6% on the same period of 2025.

EBITDA rose 10% to EUR 882,000, and profit before tax rose 15% to EUR 213,000, according to the unaudited consolidated figures for the quarter.

This is the first quarter of 2026 with year-on-year sales growth. The increase comes from the Registered Electronic Notification and Other SaaS lines, which together total EUR 1.273 million and account for 27.3% of revenue, compared with 21.3% a year earlier.

The figure reflects the company’s change of business model, geared towards a portfolio of thousands of end customers.

End-customer lines are gaining weight over the wholesale business: ICX Wholesale Solutions goes from 37.1% to 35.3% of sales.

Sales by business line

Registered Electronic Notification grew 16% to EUR 655,000, the highest third-quarter figure in the company’s series since 2020.

The line is driven by registered email, the service companies and law firms use to prove the prior negotiation attempt (MASC) required by Organic Law 1/2025 since April 2025.

Other SaaS was the fastest-growing line, up 66% to EUR 618,000, the highest third-quarter figure since 2020.

Registered Electronic Contracting fell 3% to EUR 809,000.

ICX Wholesale Solutions, the wholesale line and the largest by revenue, rose 1% to EUR 1.645 million, and has grown in the third quarter for the third consecutive year since the low of EUR 1.349 million in 2023.

At the same time, SMS Solutions slipped 5% to EUR 939,000, the second-best third quarter in its series.

“Registered Electronic Notification and Other SaaS post their best third quarter and already account for more than a quarter of sales. The change in our model towards the end customer is starting to show in the income statement,” said Sisco Sapena, founder and CEO of Lleida.net.

“We grew sales by 6% and EBITDA by 10%, and cut net debt by EUR 474,000 in a single quarter,” he added.

Year-on-year comparison (Q3 2025 vs Q3 2026)

Gross margin rose 7% to EUR 2.554 million, equivalent to 54.7% of sales, 0.2 percentage points higher than a year earlier.

Personnel expenses fell 2% to EUR 1.399 million, and external services rose 25% to EUR 501,000.

Excluding capitalized R&D of EUR 228,000, EBITDA was EUR 654,000, up 15%. EBITDA equals 35% of gross margin, compared with 34% a year earlier.

Operating profit rose 40% to EUR 290,000, after depreciation and amortization of EUR 557,000 and a provision for customer balances of EUR 36,000.

The third quarter of 2025 included EUR 113,000 in staff severance payments, with no equivalent this year.

Net financial expense was EUR 50,000, compared with EUR 31,000 a year earlier, and exchange rate differences subtracted EUR 27,000.

Financial position

Total financial debt fell by EUR 511,000 in the quarter to EUR 5.789 million at September 30, 2026. Short-term debt stood at EUR 3.307 million and long-term debt at EUR 2.482 million.

Net financial debt fell 9% to EUR 4.657 million, with cash and liquid assets of EUR 1.132 million. Since year-end 2025, net debt has fallen by EUR 1.128 million, or 19%.

The net financial debt to EBITDA ratio fell to 1.41x, from 1.63x at June 30.

Founded in 1995, Lleida.net is one of Europe’s leading providers of registered notification, electronic contracting and digital signature services. The company holds more than 300 patents in more than 60 countries and is listed on BME Growth (Madrid) and Euronext Growth (Paris), as well as in Frankfurt and Stuttgart.

SAFE HARBOR
This press release contains statements regarding the future of the Lleida.net company and its innovations. Statements regarding the future may be accompanied by words such as “anticipate”, “believe”, “estimate”, “wait”, “anticipate”, “pretend”, “power”, “plan”, “potential”, the use of future time and other terms of similar meaning. No undue reliance should be placed on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company’s commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise.

The company returns to growth in the third quarter; EBITDA rises 10% to EUR 882,000

Madrid, November 2, 2026.- Listed technology services company Lleida.net (BME:LLN, EPA:ALLLN) posted revenue of EUR 4.666 million in the third quarter of 2026, up 6% on the same period of 2025.

EBITDA rose 10% to EUR 882,000, and profit before tax rose 15% to EUR 213,000, according to the unaudited consolidated figures for the quarter.

This is the first quarter of 2026 with year-on-year sales growth. The increase comes from the Registered Electronic Notification and Other SaaS lines, which together total EUR 1.273 million and account for 27.3% of revenue, compared with 21.3% a year earlier.

The figure reflects the company’s change of business model, geared towards a portfolio of thousands of end customers.

End-customer lines are gaining weight over the wholesale business: ICX Wholesale Solutions goes from 37.1% to 35.3% of sales.

Sales by business line

Registered Electronic Notification grew 16% to EUR 655,000, the highest third-quarter figure in the company’s series since 2020.

The line is driven by registered email, the service companies and law firms use to prove the prior negotiation attempt (MASC) required by Organic Law 1/2025 since April 2025.

Other SaaS was the fastest-growing line, up 66% to EUR 618,000, the highest third-quarter figure since 2020.

Registered Electronic Contracting fell 3% to EUR 809,000.

ICX Wholesale Solutions, the wholesale line and the largest by revenue, rose 1% to EUR 1.645 million, and has grown in the third quarter for the third consecutive year since the low of EUR 1.349 million in 2023.

At the same time, SMS Solutions slipped 5% to EUR 939,000, the second-best third quarter in its series.

“Registered Electronic Notification and Other SaaS post their best third quarter and already account for more than a quarter of sales. The change in our model towards the end customer is starting to show in the income statement,” said Sisco Sapena, founder and CEO of Lleida.net.

“We grew sales by 6% and EBITDA by 10%, and cut net debt by EUR 474,000 in a single quarter,” he added.

Year-on-year comparison (Q3 2025 vs Q3 2026)

Gross margin rose 7% to EUR 2.554 million, equivalent to 54.7% of sales, 0.2 percentage points higher than a year earlier.

Personnel expenses fell 2% to EUR 1.399 million, and external services rose 25% to EUR 501,000.

Excluding capitalized R&D of EUR 228,000, EBITDA was EUR 654,000, up 15%. EBITDA equals 35% of gross margin, compared with 34% a year earlier.

Operating profit rose 40% to EUR 290,000, after depreciation and amortization of EUR 557,000 and a provision for customer balances of EUR 36,000.

The third quarter of 2025 included EUR 113,000 in staff severance payments, with no equivalent this year.

Net financial expense was EUR 50,000, compared with EUR 31,000 a year earlier, and exchange rate differences subtracted EUR 27,000.

Financial position

Total financial debt fell by EUR 511,000 in the quarter to EUR 5.789 million at September 30, 2026. Short-term debt stood at EUR 3.307 million and long-term debt at EUR 2.482 million.

Net financial debt fell 9% to EUR 4.657 million, with cash and liquid assets of EUR 1.132 million. Since year-end 2025, net debt has fallen by EUR 1.128 million, or 19%.

The net financial debt to EBITDA ratio fell to 1.41x, from 1.63x at June 30.

Founded in 1995, Lleida.net is one of Europe’s leading providers of registered notification, electronic contracting and digital signature services. The company holds more than 300 patents in more than 60 countries and is listed on BME Growth (Madrid) and Euronext Growth (Paris), as well as in Frankfurt and Stuttgart.

SAFE HARBOR
This press release contains statements regarding the future of the Lleida.net company and its innovations. Statements regarding the future may be accompanied by words such as “anticipate”, “believe”, “estimate”, “wait”, “anticipate”, “pretend”, “power”, “plan”, “potential”, the use of future time and other terms of similar meaning. No undue reliance should be placed on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company’s commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise.

The share repurchase programme runs as from 5 February 2026 and up to and including 29 January 2027 at the latest. In this period, Jyske Bank will acquire shares with a value of up to DKK 3 billion, cf. Corporate Announcement No. 11/2026 of 5 February 2026. The share repurchase programme is initiated and structured in compliance with the Market Abuse Regulation (Regulation (EU) No 596/2014) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

The following transactions have been made under the program:

	Number of shares	Average purchase price (DKK)	Transaction value (DKK)
Accumulated, previous announcement	2,292,311	965.31	2,212,791,401
26 October 2026	11,106	1,043.19	11,585,670
27 October 2026	11,275	1,059.45	11,945,266
28 October 2026	11,081	1,077.84	11,943,566
29 October 2026	10,953	1,093.19	11,973,680
30 October 2026	10,835	1,080.93	11,711,853
Accumulated under the programme	2,347,561	967.79	2,271,951,437

Following settlement of the transactions stated above, Jyske Bank will own a total of 2,347,561 of treasury shares, excluding investments made on behalf of customers and shares held for trading purposes, corresponding to 4.03% of the share capital.

Attached to this corporate announcement, aggregated details on the transactions related to the share repurchase programme are shown by venue.

Yours faithfully,
Jyske Bank

Contact: Birger Krøgh Nielsen, CFO, tel. +45 25 26 92 42.

Attachment

• Share repurchase programme 20261102

The share repurchase programme runs as from 5 February 2026 and up to and including 29 January 2027 at the latest. In this period, Jyske Bank will acquire shares with a value of up to DKK 3 billion, cf. Corporate Announcement No. 11/2026 of 5 February 2026. The share repurchase programme is initiated and structured in compliance with the Market Abuse Regulation (Regulation (EU) No 596/2014) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

The following transactions have been made under the program:

	Number of shares	Average purchase price (DKK)	Transaction value (DKK)
Accumulated, previous announcement	2,292,311	965.31	2,212,791,401
26 October 2026	11,106	1,043.19	11,585,670
27 October 2026	11,275	1,059.45	11,945,266
28 October 2026	11,081	1,077.84	11,943,566
29 October 2026	10,953	1,093.19	11,973,680
30 October 2026	10,835	1,080.93	11,711,853
Accumulated under the programme	2,347,561	967.79	2,271,951,437

Following settlement of the transactions stated above, Jyske Bank will own a total of 2,347,561 of treasury shares, excluding investments made on behalf of customers and shares held for trading purposes, corresponding to 4.03% of the share capital.

Attached to this corporate announcement, aggregated details on the transactions related to the share repurchase programme are shown by venue.

Yours faithfully,
Jyske Bank

Contact: Birger Krøgh Nielsen, CFO, tel. +45 25 26 92 42.

Attachment

• Share repurchase programme 20261102

• ACLF – Advancing a multi-target therapeutic strategy
  • GENFIT to host a scientific event on November 8, 2026 to outline its ACLF strategy and unveil a comprehensive clinical data package supporting the advancement of nangibotide into Phase 2 in this indication
  • Three poster presentations will provide new insights into the role of inflammation and immune dysregulation in acute liver failure, as well as further clinically relevant evidence of nitazoxanide’s anti-inflammatory activity, supporting its development in ACLF
  • Management to present at dedicated scientific meeting with NACSELD, a leading North American research consortium in cirrhosis and ACLF, to deepen scientific engagement
• MASH Diagnostics – Unlocking the opportunity as MASH treatment uptake expands
  • Taking a leading role in the Global Liver Institute’s Beyond the Biopsy – National Implementation Forum, bringing together drug manufacturers such as Novo Nordisk, Eli Lilly and Madrigal as well as KOLs to drive ecosystem-wide action on earlier patient identification and improved awareness of when, why and how to diagnose and monitor MASH
  • GENFIT’s expert panel on November 6, 2026, will highlight the importance of non-invasive testing in MASH for early detection of patients with active fibrotic MASH and monitoring of treatment response, as well as the unique potential of NIS™ Technology through converging perspectives from hepatology, diabetology, endocrinology, the pharmaceutical industry, and patients

Lille (France), Cambridge (Massachusetts, United States), November 2, 2026 – GENFIT (Euronext: GNFT), a biopharmaceutical company dedicated to improving the lives of patients with rare and life-threatening liver diseases, today announced a broad program of scientific and strategic activities taking place at the AASLD The Liver Meeting® 2026, highlighting progress across its therapeutic programs in Acute on-Chronic Liver Failure (ACLF) and diagnostics activities in Metabolic dysfunction-associated steatohepatitis (MASH).

ACLF – Advancing a multi-target therapeutic strategy

Scientific Event – November 8, 2026 |Advancing Clinical Development in ACLF
Building on Extensive Clinical Evidence and Research
The event will feature Professor Jennifer Lai (UC San Francisco) as a guest speaker, and will outline GENFIT’s multi-target approach to ACLF, aimed at addressing the complex pathophysiology of the disease through complementary therapeutic mechanisms. It will also provide an in-depth review of nangibotide, GENFIT’s TREM-1 modulator combining a strong biological rationale including safety data and promising efficacy signals across multiple organ systems from previous clinical studies in different indications. The development package for nangibotide includes an existing body of clinical evidence at the proposed dose, as well as available clinical supply and regulatory data informing GENFIT’s decision to advance into Phase 2 in ACLF.

Scientific posters to be presented – November 6, 2026 | 1:00–2:00 p.m. MT

• Poster #2284: RIPK1 inhibition attenuates NET release and hemorrhagic liver injury in D-Galactosamine/LPS mice
• Poster #2273: D-Galactosamine/LPS Acute Liver Failure Recapitulates Emergency Granulopoiesis-like Signatures Across the Bone Marrow–Spleen–Liver Axis
• Poster #2034: Ex vivo blood assays demonstrate systemic anti-inflammatory activity of G1090N, a novel formulation of nitazoxanide, and support further clinical evaluation in acute-on-chronic liver failure (ACLF)

ACLF is characterized by high systemic inflammation and profound immune dysregulation. By bridging systemic immune dysregulation and pharmacological intervention, posters #2284 and #2273 presented at The Liver Meeting® will provide new insights into the role of the immune system, particularly neutrophils, in acute liver failure conditions. In addition, poster #2034 will provide further evidence of nitazoxanide’s anti-inflammatory activity, using blood samples collected in a clinical setting, supporting its clinical development in ACLF.

NACSELD Meeting – November 5, 2026
The North American Consortium for the Study of End-Stage Liver Disease (NACSELD), a leading multicenter research consortium focused on improving outcomes in cirrhosis and ACLF, will host a dedicated scientific meeting to provide an opportunity to discuss the evolving understanding of ACLF, key unmet needs and priorities for future therapeutic development, deepening scientific engagement. Building on GENFIT’s established partnership with NACSELD, management will present its ACLF strategy at this meeting chaired by Professor Jasmohan S. Bajaj, MD, MS, FAASLD, of Virginia Commonwealth University.

MASH Diagnostics – Unlocking the opportunity as MASH treatment uptake expands

“Beyond the Biopsy” National Implementation Forum – November 4, 2026 | Global Liver Institute’s Initiative
The Global Liver Institute’s “Beyond the Biopsy “ National Implementation Forum will bring together clinical experts, patients, and diagnostics and pharmaceutical companies to address the practical barriers to implementing non-invasive MASH diagnostics at scale. Building on patient experiences and insights about LITMUS and NIMBLE, discussions moderated by Professor Brent A. Tetri, MD, will examine how to translate diagnostic innovation into real-world implementation across clinical pathways, access, reimbursement and policy. This involvement further strengthens GENFIT’s ties with Eli Lilly, Novo Nordisk, Madrigal and other leading pharmaceutical companies at the forefront of bringing new treatment options to tens of millions of patients in need. Larry Holden, CEO of the Global Liver Institute commented: “We are reaching an important inflection point in MASH: effective treatments are becoming available, making the ability to identify the right patients, particularly those with at-risk MASH, increasingly critical. Bringing together diagnostic innovators such as GENFIT, leading drug companies including Eli Lilly, Novo Nordisk and Madrigal, clinical experts from hepatology to endocrinology, patients and payers around the same table is exactly the type of dialogue needed to move from scientific progress to real-world implementation. As a pioneer in non-invasive MASH diagnostics, GENFIT has helped shape the field and continues to drive its evolution, with a clear vision of a future where therapeutic advances go hand in hand with effective patient identification and disease monitoring.”

Expert Panel – November 6, 2026 | Non-Invasive Diagnostics for At-Risk MASH
NIS^TM Technology Reshaping Patient Identification and Access to Care¹
Professor Vlad Ratziu, MD, PhD (Sorbonne University, Pitié-Salpêtrière Hospital, IHU ICAN) and Professor Kenneth Cusi, MD, FACP, FACE (University of Florida, Division of Endocrinology, Diabetes & Metabolism) will share complementary hepatology and metabolic disease perspectives, while Wayne Eskridge and Henry Chang from the Fatty Liver Foundation will highlight how a simple and reliable blood-based technology could transform the patient journey and improve patient outcomes. Ashley Hamilton Chasick (Global Lead, Diagnostics Partnerships, Novo Nordisk), will complement these perspectives with an industry view on the importance of adopting non-invasive diagnostics in clinical practice to support earlier identification and monitoring of patients with at-risk MASH. The discussion will address current challenges in identifying and managing patients with at-risk MASH, a population characterized not only by fibrosis, but also by disease activity. It will highlight the growing role of non-invasive diagnostics as treatment uptake expands, and the potential contribution of GENFIT’s NIS™ Technology. Independent consortia in the US and Europe have validated GENFIT’s technology: NIMBLE identified it as the only one, among those evaluated, specifically intended to diagnose at-risk MASH, while LITMUS showed that it achieved the highest diagnostic accuracy among the blood-based, imaging and combined modalities evaluated for at-risk MASH. At-risk MASH is consistent with the population enrolled in the pivotal Phase 3 trials that supported the approval of currently approved MASH therapies.

GENFIT’s partner Ipsen is also expected to communicate on elafibranor during The Liver Meeting® 2026.

END

ABOUT GENFIT

GENFIT is a biopharmaceutical company committed to improving the lives of patients with rare, life-threatening liver diseases whose medical needs remain largely unmet. GENFIT is a pioneer in liver disease research and development with a rich history and a solid scientific heritage spanning more than two decades. Today, GENFIT focuses on Acute on-Chronic Liver Failure (ACLF) and associated conditions such as acute decompensation (AD) and hepatic encephalopathy (HE). It develops therapeutic assets which have complementary mechanisms of action, selected to address key pathophysiological pathways. GENFIT also targets other serious diseases, such as cholangiocarcinoma (CCA), urea cycle disorders (UCD) and organic acidemia (OA). Its R&D portfolio, covering several stages of development, ensures a constant news flow. GENFIT’s expertise in developing high-potential molecules – from early to advanced pre-commercialization stages – culminated in 2024 with the accelerated approval of Iqirvo® (elafibranor) by the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA) and the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom for second-line treatment of Primary Biliary Cholangitis (PBC). Iqirvo® is now marketed in several countries.² Beyond therapies, GENFIT also has a diagnostic franchise including NIS2+® for the detection of Metabolic dysfunction-associated steatohepatitis (MASH, formerly known as NASH for non-alcoholic steatohepatitis). GENFIT, a BCorp™ certified company since 2025, is headquartered in Lille, France and has offices in Paris (France) and Cambridge, MA (USA). The Company is listed on the Euronext regulated market in Paris, Compartment B (Euronext: GNFT). In 2021, Ipsen became one of GENFIT’s largest shareholders, acquiring an 8% stake in the Company’s capital. www.genfit.com

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements with respect to GENFIT, including, but not limited to, statements regarding the development and potential therapeutic profile of nangibotide, the potential role of TREM-1 in Acute-on-Chronic Liver Failure (ACLF), the initiation, design, conduct, timing and results of future clinical trials, including the planned Phase 2a proof-of-concept study in ACLF, the potential clinical benefits, safety profile and therapeutic value of nangibotide, the potential relevance on future clinical investigations of efficacy signals and safety data observed in prior clinical studies conducted in other indications, the expected timing of data readouts, regulatory interactions and future development activities, the potential role, clinical utility and adoption of non-invasive MASH diagnostics, including GENFIT’s NIS™ Technology, in patient identification, disease monitoring and access to care; the potential opportunities associated with increasing uptake of MASH treatments, as well as the Company’s strategic plans and objectives. The use of certain words, such as “believe”, “potential”, “expect”, “target”, “may”, “will”, “should”, “could”, “if” and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on the current expectations and reasonable assumptions of the Company’s management, these forward-looking statements are subject to numerous known and unknown risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, among others, the uncertainties relating to the the Company’s ability to advance its therapeutic programs and initiate and complete clinical trials; uncertainties relating to regulatory requirements and decisions, patient enrollment, clinical trial execution, safety findings, manufacturing and clinical supply; the possibility that findings from prior studies in other indications, preclinical research or ex vivo assays may not predict safety, efficacy or clinical benefit in patients with ACLF; uncertainties relating to the clinical utility, further validation, adoption and use of non-invasive MASH diagnostics, including for disease or treatment- response monitoring; changes in clinical practice, treatment uptake, reimbursement, access and applicable regulatory requirements; and the Company’s dependence on partners and other third parties whose plans and activities may change. Those risks and uncertainties also include those discussed or identified in the Company’s public filings with the AMF, including those listed in Chapter 2 “Risk Factors and Internal Control” of the Company’s 2025 Universal Registration Document filed on April 3, 2026 (no. 26-0221) with the Autorité des marchés financiers (“AMF”), which is available on GENFIT’s website (www.genfit.fr) and the AMF’s website (www.amf.org), and those discussed in reports filed with the AMF or otherwise made public, by the Company including the Half-Year 2026 Business and Financial Report. In addition, even if the results, performance, financial position and liquidity of the Company and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. These forward-looking statements speak only as of the date of publication of this press release. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise. 

CONTACTS

GENFIT | Investors

Jean-Christophe Marcoux – Chief Corporate Affairs Officer | Tel: +33 3 2016 4000 |
jean-christophe.marcoux@genfit.com

Kevin Gardner – Life Science Advisors | kgardner@lifesciadvisors.com

GENFIT | Media

Bruno ARABIAN – Agence Maarc | Tel : 06 87 88 47 26 | bruno.arabian@maarc.fr

Stephanie Boyer – Press relations | Tel: +333 2016 4000 | stephanie.boyer@genfit.com

GENFIT | 885 Avenue Eugène Avinée, 59120 Loos – FRANCE | +333 2016 4000 | www.genfit.com 

---

1 NIS™ Technology refers to NIS4® and its next-generation version, NIS2+® | NASHnext® (based on NIS4 technology) reimbursement by Medicare under the Clinical Laboratory Fee Schedule to Medicare patients that meet coverage criteria became effective on August 10, 2026 | NIS2+® is currently available through Labcorp in the United States as a Laboratory Developed Test (LDT). It has not been cleared or approved by the U.S. Food,and Drug Administration (FDA) and is not CE marked in the European Union
2 Elafibranor is marketed and commercialized, notably in the U.S and Europe, by Ipsen under the trademark Iqirvo®

Attachment

• GENFIT to Highlight Progress in ACLF and MASH Diagnostics at AASLD The Liver Meeting® 2026

• ACLF – Advancing a multi-target therapeutic strategy
  • GENFIT to host a scientific event on November 8, 2026 to outline its ACLF strategy and unveil a comprehensive clinical data package supporting the advancement of nangibotide into Phase 2 in this indication
  • Three poster presentations will provide new insights into the role of inflammation and immune dysregulation in acute liver failure, as well as further clinically relevant evidence of nitazoxanide’s anti-inflammatory activity, supporting its development in ACLF
  • Management to present at dedicated scientific meeting with NACSELD, a leading North American research consortium in cirrhosis and ACLF, to deepen scientific engagement
• MASH Diagnostics – Unlocking the opportunity as MASH treatment uptake expands
  • Taking a leading role in the Global Liver Institute’s Beyond the Biopsy – National Implementation Forum, bringing together drug manufacturers such as Novo Nordisk, Eli Lilly and Madrigal as well as KOLs to drive ecosystem-wide action on earlier patient identification and improved awareness of when, why and how to diagnose and monitor MASH
  • GENFIT’s expert panel on November 6, 2026, will highlight the importance of non-invasive testing in MASH for early detection of patients with active fibrotic MASH and monitoring of treatment response, as well as the unique potential of NIS™ Technology through converging perspectives from hepatology, diabetology, endocrinology, the pharmaceutical industry, and patients

Lille (France), Cambridge (Massachusetts, United States), November 2, 2026 – GENFIT (Euronext: GNFT), a biopharmaceutical company dedicated to improving the lives of patients with rare and life-threatening liver diseases, today announced a broad program of scientific and strategic activities taking place at the AASLD The Liver Meeting® 2026, highlighting progress across its therapeutic programs in Acute on-Chronic Liver Failure (ACLF) and diagnostics activities in Metabolic dysfunction-associated steatohepatitis (MASH).

ACLF – Advancing a multi-target therapeutic strategy

Scientific Event – November 8, 2026 |Advancing Clinical Development in ACLF
Building on Extensive Clinical Evidence and Research
The event will feature Professor Jennifer Lai (UC San Francisco) as a guest speaker, and will outline GENFIT’s multi-target approach to ACLF, aimed at addressing the complex pathophysiology of the disease through complementary therapeutic mechanisms. It will also provide an in-depth review of nangibotide, GENFIT’s TREM-1 modulator combining a strong biological rationale including safety data and promising efficacy signals across multiple organ systems from previous clinical studies in different indications. The development package for nangibotide includes an existing body of clinical evidence at the proposed dose, as well as available clinical supply and regulatory data informing GENFIT’s decision to advance into Phase 2 in ACLF.

Scientific posters to be presented – November 6, 2026 | 1:00–2:00 p.m. MT

• Poster #2284: RIPK1 inhibition attenuates NET release and hemorrhagic liver injury in D-Galactosamine/LPS mice
• Poster #2273: D-Galactosamine/LPS Acute Liver Failure Recapitulates Emergency Granulopoiesis-like Signatures Across the Bone Marrow–Spleen–Liver Axis
• Poster #2034: Ex vivo blood assays demonstrate systemic anti-inflammatory activity of G1090N, a novel formulation of nitazoxanide, and support further clinical evaluation in acute-on-chronic liver failure (ACLF)

ACLF is characterized by high systemic inflammation and profound immune dysregulation. By bridging systemic immune dysregulation and pharmacological intervention, posters #2284 and #2273 presented at The Liver Meeting® will provide new insights into the role of the immune system, particularly neutrophils, in acute liver failure conditions. In addition, poster #2034 will provide further evidence of nitazoxanide’s anti-inflammatory activity, using blood samples collected in a clinical setting, supporting its clinical development in ACLF.

NACSELD Meeting – November 5, 2026
The North American Consortium for the Study of End-Stage Liver Disease (NACSELD), a leading multicenter research consortium focused on improving outcomes in cirrhosis and ACLF, will host a dedicated scientific meeting to provide an opportunity to discuss the evolving understanding of ACLF, key unmet needs and priorities for future therapeutic development, deepening scientific engagement. Building on GENFIT’s established partnership with NACSELD, management will present its ACLF strategy at this meeting chaired by Professor Jasmohan S. Bajaj, MD, MS, FAASLD, of Virginia Commonwealth University.

MASH Diagnostics – Unlocking the opportunity as MASH treatment uptake expands

“Beyond the Biopsy” National Implementation Forum – November 4, 2026 | Global Liver Institute’s Initiative
The Global Liver Institute’s “Beyond the Biopsy “ National Implementation Forum will bring together clinical experts, patients, and diagnostics and pharmaceutical companies to address the practical barriers to implementing non-invasive MASH diagnostics at scale. Building on patient experiences and insights about LITMUS and NIMBLE, discussions moderated by Professor Brent A. Tetri, MD, will examine how to translate diagnostic innovation into real-world implementation across clinical pathways, access, reimbursement and policy. This involvement further strengthens GENFIT’s ties with Eli Lilly, Novo Nordisk, Madrigal and other leading pharmaceutical companies at the forefront of bringing new treatment options to tens of millions of patients in need. Larry Holden, CEO of the Global Liver Institute commented: “We are reaching an important inflection point in MASH: effective treatments are becoming available, making the ability to identify the right patients, particularly those with at-risk MASH, increasingly critical. Bringing together diagnostic innovators such as GENFIT, leading drug companies including Eli Lilly, Novo Nordisk and Madrigal, clinical experts from hepatology to endocrinology, patients and payers around the same table is exactly the type of dialogue needed to move from scientific progress to real-world implementation. As a pioneer in non-invasive MASH diagnostics, GENFIT has helped shape the field and continues to drive its evolution, with a clear vision of a future where therapeutic advances go hand in hand with effective patient identification and disease monitoring.”

Expert Panel – November 6, 2026 | Non-Invasive Diagnostics for At-Risk MASH
NIS^TM Technology Reshaping Patient Identification and Access to Care¹
Professor Vlad Ratziu, MD, PhD (Sorbonne University, Pitié-Salpêtrière Hospital, IHU ICAN) and Professor Kenneth Cusi, MD, FACP, FACE (University of Florida, Division of Endocrinology, Diabetes & Metabolism) will share complementary hepatology and metabolic disease perspectives, while Wayne Eskridge and Henry Chang from the Fatty Liver Foundation will highlight how a simple and reliable blood-based technology could transform the patient journey and improve patient outcomes. Ashley Hamilton Chasick (Global Lead, Diagnostics Partnerships, Novo Nordisk), will complement these perspectives with an industry view on the importance of adopting non-invasive diagnostics in clinical practice to support earlier identification and monitoring of patients with at-risk MASH. The discussion will address current challenges in identifying and managing patients with at-risk MASH, a population characterized not only by fibrosis, but also by disease activity. It will highlight the growing role of non-invasive diagnostics as treatment uptake expands, and the potential contribution of GENFIT’s NIS™ Technology. Independent consortia in the US and Europe have validated GENFIT’s technology: NIMBLE identified it as the only one, among those evaluated, specifically intended to diagnose at-risk MASH, while LITMUS showed that it achieved the highest diagnostic accuracy among the blood-based, imaging and combined modalities evaluated for at-risk MASH. At-risk MASH is consistent with the population enrolled in the pivotal Phase 3 trials that supported the approval of currently approved MASH therapies.

GENFIT’s partner Ipsen is also expected to communicate on elafibranor during The Liver Meeting® 2026.

END

ABOUT GENFIT

GENFIT is a biopharmaceutical company committed to improving the lives of patients with rare, life-threatening liver diseases whose medical needs remain largely unmet. GENFIT is a pioneer in liver disease research and development with a rich history and a solid scientific heritage spanning more than two decades. Today, GENFIT focuses on Acute on-Chronic Liver Failure (ACLF) and associated conditions such as acute decompensation (AD) and hepatic encephalopathy (HE). It develops therapeutic assets which have complementary mechanisms of action, selected to address key pathophysiological pathways. GENFIT also targets other serious diseases, such as cholangiocarcinoma (CCA), urea cycle disorders (UCD) and organic acidemia (OA). Its R&D portfolio, covering several stages of development, ensures a constant news flow. GENFIT’s expertise in developing high-potential molecules – from early to advanced pre-commercialization stages – culminated in 2024 with the accelerated approval of Iqirvo® (elafibranor) by the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA) and the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom for second-line treatment of Primary Biliary Cholangitis (PBC). Iqirvo® is now marketed in several countries.² Beyond therapies, GENFIT also has a diagnostic franchise including NIS2+® for the detection of Metabolic dysfunction-associated steatohepatitis (MASH, formerly known as NASH for non-alcoholic steatohepatitis). GENFIT, a BCorp™ certified company since 2025, is headquartered in Lille, France and has offices in Paris (France) and Cambridge, MA (USA). The Company is listed on the Euronext regulated market in Paris, Compartment B (Euronext: GNFT). In 2021, Ipsen became one of GENFIT’s largest shareholders, acquiring an 8% stake in the Company’s capital. www.genfit.com

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements with respect to GENFIT, including, but not limited to, statements regarding the development and potential therapeutic profile of nangibotide, the potential role of TREM-1 in Acute-on-Chronic Liver Failure (ACLF), the initiation, design, conduct, timing and results of future clinical trials, including the planned Phase 2a proof-of-concept study in ACLF, the potential clinical benefits, safety profile and therapeutic value of nangibotide, the potential relevance on future clinical investigations of efficacy signals and safety data observed in prior clinical studies conducted in other indications, the expected timing of data readouts, regulatory interactions and future development activities, the potential role, clinical utility and adoption of non-invasive MASH diagnostics, including GENFIT’s NIS™ Technology, in patient identification, disease monitoring and access to care; the potential opportunities associated with increasing uptake of MASH treatments, as well as the Company’s strategic plans and objectives. The use of certain words, such as “believe”, “potential”, “expect”, “target”, “may”, “will”, “should”, “could”, “if” and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on the current expectations and reasonable assumptions of the Company’s management, these forward-looking statements are subject to numerous known and unknown risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, among others, the uncertainties relating to the the Company’s ability to advance its therapeutic programs and initiate and complete clinical trials; uncertainties relating to regulatory requirements and decisions, patient enrollment, clinical trial execution, safety findings, manufacturing and clinical supply; the possibility that findings from prior studies in other indications, preclinical research or ex vivo assays may not predict safety, efficacy or clinical benefit in patients with ACLF; uncertainties relating to the clinical utility, further validation, adoption and use of non-invasive MASH diagnostics, including for disease or treatment- response monitoring; changes in clinical practice, treatment uptake, reimbursement, access and applicable regulatory requirements; and the Company’s dependence on partners and other third parties whose plans and activities may change. Those risks and uncertainties also include those discussed or identified in the Company’s public filings with the AMF, including those listed in Chapter 2 “Risk Factors and Internal Control” of the Company’s 2025 Universal Registration Document filed on April 3, 2026 (no. 26-0221) with the Autorité des marchés financiers (“AMF”), which is available on GENFIT’s website (www.genfit.fr) and the AMF’s website (www.amf.org), and those discussed in reports filed with the AMF or otherwise made public, by the Company including the Half-Year 2026 Business and Financial Report. In addition, even if the results, performance, financial position and liquidity of the Company and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. These forward-looking statements speak only as of the date of publication of this press release. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise. 

CONTACTS

GENFIT | Investors

Jean-Christophe Marcoux – Chief Corporate Affairs Officer | Tel: +33 3 2016 4000 |
jean-christophe.marcoux@genfit.com

Kevin Gardner – Life Science Advisors | kgardner@lifesciadvisors.com

GENFIT | Media

Bruno ARABIAN – Agence Maarc | Tel : 06 87 88 47 26 | bruno.arabian@maarc.fr

Stephanie Boyer – Press relations | Tel: +333 2016 4000 | stephanie.boyer@genfit.com

GENFIT | 885 Avenue Eugène Avinée, 59120 Loos – FRANCE | +333 2016 4000 | www.genfit.com 

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1 NIS™ Technology refers to NIS4® and its next-generation version, NIS2+® | NASHnext® (based on NIS4 technology) reimbursement by Medicare under the Clinical Laboratory Fee Schedule to Medicare patients that meet coverage criteria became effective on August 10, 2026 | NIS2+® is currently available through Labcorp in the United States as a Laboratory Developed Test (LDT). It has not been cleared or approved by the U.S. Food,and Drug Administration (FDA) and is not CE marked in the European Union
2 Elafibranor is marketed and commercialized, notably in the U.S and Europe, by Ipsen under the trademark Iqirvo®

Attachment

• GENFIT to Highlight Progress in ACLF and MASH Diagnostics at AASLD The Liver Meeting® 2026

COPENHAGEN, Denmark, November 2, 2026 – Bavarian Nordic A/S (OMX: BAVA) today announced that it has been awarded a new multi-year contract by the UK Government through the UK Health Security Agency (UKHSA) for the supply of MVA-BN^®, a non-replicating vaccine indicated for the prevention of mpox and smallpox, further supporting the UK’s long-term preparedness against emerging infectious disease threats.

Under the four-year contract, Bavarian Nordic will supply MVA-BN through scheduled deliveries across the term. The contract also includes optional flexibility provisions.

The award reinforces the longstanding partnership between Bavarian Nordic and the UK government and supports the UK’s commitment to maintaining vaccine preparedness and response capabilities against public health threats.

Sarah Collins, Director, Commercial, Vaccines & Countermeasures Delivery at UKHSA said: “It is vital to ensure that the UK has the right vaccines available to protect the public from a range of infectious disease threats. Working with a range of trusted suppliers helps us build a resilient and flexible vaccine supply chain, so we can respond quickly and effectively. This contract is an important part of that ongoing work to keep the public safe.”

“We are pleased to continue supporting the UK government’s preparedness efforts through this multi-year agreement,” said Hitesh Sahni, Senior Vice President, Public Preparedness at Bavarian Nordic. “Maintaining sustainable vaccine stockpiles and rapid response capabilities are essential to protecting public health and saving lives and we are proud that our vaccine remains an important component of the UK’s resilience strategy.”

The MVA-BN vaccine has been a key tool in outbreak preparedness and response efforts globally. Governments and public health authorities continue to recognize the importance of maintaining access to vaccines that can be deployed rapidly in response to evolving epidemiological situations.

The new contract follows previous vaccine procurements by the UK government aimed at strengthening national resilience and ensuring the availability of vaccine supplies for eligible populations and outbreak response activities.

About MVA-BN^®
MVA-BN or Modified Vaccinia Ankara-Bavarian Nordic is the only non-replicating mpox vaccine approved in the U.S., Switzerland, Singapore, Mexico (marketed as JYNNEOS^®), Canada (marketed as IMVAMUNE^®), the EU/EEA European Economic Area and United Kingdom (marketed as IMVANEX^®). Originally developed as a smallpox vaccine in collaboration with the U.S. government to ensure the supply of a smallpox vaccine for the entire population, including immunocompromised individuals who are not recommended vaccination with traditional replicating smallpox vaccines, MVA-BN has been indicated for use in the general population (from 2 years old) in individuals considered at risk for smallpox or mpox infection.

About Bavarian Nordic
Bavarian Nordic is a global vaccine company with a mission to improve health and save lives through innovative vaccines. We are a supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and have a leading portfolio of travel vaccines. For more information, visit www.bavarian-nordic.com

Forward-looking statements
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.

Contact investors:
Anders Hjort, Head of Investor Relations, ahjo@bavarian-nordic.com, Tel: +45 44 74 99 58
Graham Morrell, Gilmartin Group, graham@gilmartinir.com, Tel: +1 781 686 9600

Contact media:
Isabel Hagbrink, Head of Media Relations, isha@bavarian-nordic.com, Tel: +45 71 79 67 33

Attachment

• Bavarian Nordic Awarded Multi-Year Vaccine Contract by UK Government

COPENHAGEN, Denmark, November 2, 2026 – Bavarian Nordic A/S (OMX: BAVA) today announced that it has been awarded a new multi-year contract by the UK Government through the UK Health Security Agency (UKHSA) for the supply of MVA-BN^®, a non-replicating vaccine indicated for the prevention of mpox and smallpox, further supporting the UK’s long-term preparedness against emerging infectious disease threats.

Under the four-year contract, Bavarian Nordic will supply MVA-BN through scheduled deliveries across the term. The contract also includes optional flexibility provisions.

The award reinforces the longstanding partnership between Bavarian Nordic and the UK government and supports the UK’s commitment to maintaining vaccine preparedness and response capabilities against public health threats.

Sarah Collins, Director, Commercial, Vaccines & Countermeasures Delivery at UKHSA said: “It is vital to ensure that the UK has the right vaccines available to protect the public from a range of infectious disease threats. Working with a range of trusted suppliers helps us build a resilient and flexible vaccine supply chain, so we can respond quickly and effectively. This contract is an important part of that ongoing work to keep the public safe.”

“We are pleased to continue supporting the UK government’s preparedness efforts through this multi-year agreement,” said Hitesh Sahni, Senior Vice President, Public Preparedness at Bavarian Nordic. “Maintaining sustainable vaccine stockpiles and rapid response capabilities are essential to protecting public health and saving lives and we are proud that our vaccine remains an important component of the UK’s resilience strategy.”

The MVA-BN vaccine has been a key tool in outbreak preparedness and response efforts globally. Governments and public health authorities continue to recognize the importance of maintaining access to vaccines that can be deployed rapidly in response to evolving epidemiological situations.

The new contract follows previous vaccine procurements by the UK government aimed at strengthening national resilience and ensuring the availability of vaccine supplies for eligible populations and outbreak response activities.

About MVA-BN^®
MVA-BN or Modified Vaccinia Ankara-Bavarian Nordic is the only non-replicating mpox vaccine approved in the U.S., Switzerland, Singapore, Mexico (marketed as JYNNEOS^®), Canada (marketed as IMVAMUNE^®), the EU/EEA European Economic Area and United Kingdom (marketed as IMVANEX^®). Originally developed as a smallpox vaccine in collaboration with the U.S. government to ensure the supply of a smallpox vaccine for the entire population, including immunocompromised individuals who are not recommended vaccination with traditional replicating smallpox vaccines, MVA-BN has been indicated for use in the general population (from 2 years old) in individuals considered at risk for smallpox or mpox infection.

About Bavarian Nordic
Bavarian Nordic is a global vaccine company with a mission to improve health and save lives through innovative vaccines. We are a supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and have a leading portfolio of travel vaccines. For more information, visit www.bavarian-nordic.com

Forward-looking statements
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.

Contact investors:
Anders Hjort, Head of Investor Relations, ahjo@bavarian-nordic.com, Tel: +45 44 74 99 58
Graham Morrell, Gilmartin Group, graham@gilmartinir.com, Tel: +1 781 686 9600

Contact media:
Isabel Hagbrink, Head of Media Relations, isha@bavarian-nordic.com, Tel: +45 71 79 67 33

Attachment

• Bavarian Nordic Awarded Multi-Year Vaccine Contract by UK Government