GlobeNewswire – Page 550

Idorsia reports accelerating QUVIVIQ growth, advances key value drivers, and reaffirms full-year financial guidance

Posted on October 29, 2026 by Ravi Shankar

Ad hoc announcement pursuant to Art. 53 LR

QUVIVIQ™ (daridorexant) sales reached CHF 142 million in the first nine months of 2026, with growth accelerating quarter-on-quarter. Idorsia reaffirms its full-year 2026 guidance and remains focused on further accelerating growth, maximizing the commercial opportunity of QUVIVIQ, and preparing the launch of TRYVIO/JERAYGO under the new leadership of CEO Roland Wandeler.

Allschwil, Switzerland – October 29, 2026
Idorsia Ltd (SIX: IDIA) is a commercial-stage biopharmaceutical company with two products, each with blockbuster potential, and a differentiated portfolio of first- or best-in-class therapies. The company today announced its financial results for the first nine months of 2026.

Roland Wandeler, CEO of Idorsia, commented:
“My first month at Idorsia has reinforced my belief that we have the assets, strategy and people to create substantial value. We have two products with blockbuster potential, a focused strategy, and a team fully committed to execution. Accelerating QUVIVIQ growth is our number one priority, and I see multiple opportunities to expand its reach and impact. Our recent pediatric insomnia findings, including the opportunity in children with autism spectrum disorder, reinforce my belief that we are only beginning to unlock the full potential of daridorexant. At the same time, we have identified a focused and capital-efficient pathway to realize the significant potential of TRYVIO/JERAYGO. With two products that each have blockbuster potential, we are entering a period where disciplined execution can translate innovation into substantial value for patients and shareholders.”

Maximize the current QUVIVIQ^® opportunity in insomnia
QUVIVIQ continues to benefit from five reinforcing growth drivers: accelerating demand, expanding geographic reach, broader patient access, increasing penetration into primary care, and multiple lifecycle expansion opportunities. Together, these drivers contributed to net sales growth of 54% to CHF 142 million in the first nine months of 2026 (9M 2025: CHF 92 million) across North America and Europe.

Key developments during the third quarter included:

The DEA proposed reclassifying the dual orexin receptor antagonist (DORA) class, including QUVIVIQ, from Schedule IV to the least restrictive Schedule V. Given the importance of access to this safe and effective class of products, Idorsia does not oppose the proposed rule and continues to urge the DEA to issue a Final Rule. Idorsia also continues to believe that DORAs no longer meet the criteria for scheduling under the Controlled Substances Act and should ultimately be removed from scheduling altogether.
Dari-Dream (press release), a US label-enabling study designed to support the inclusion of daytime functioning in the US prescribing information, enrolled its first patient.
Outstanding results from the first and only Phase 2 study of a dual orexin receptor antagonist in children and adolescents with insomnia disorder were presented at Sleep Europe 2026 (press release | presentation).

Together, these developments reinforce our conviction that we are only beginning to unlock the full commercial and clinical potential of daridorexant.

Unlock the value of TRYVIO™ / JERAYGO™ (aprocitentan)
TRYVIO/JERAYGO continues to demonstrate the characteristics of a significant commercial opportunity, supported by growing physician awareness of the unmet need in difficult-to-control and resistant hypertension, a differentiated efficacy and tolerability profile, and emerging real-world experience. During the quarter, new data presented at AHA Hypertension 2026 and ASN Kidney Week further reinforced the product’s potential across high-risk patient populations (press release). In parallel, Idorsia and SPV investors announced a proposed commercialization partnership to unlock the blockbuster potential of TRYVIO/JERAYGO through a focused specialist-led launch strategy. The proposed combination of dedicated launch capital and participation in future product revenues would create a focused and capital-efficient pathway to realize the product’s commercial potential. This approach also enables shareholders to participate more directly in the value created by the asset (press release).

Expand the long-term value of daridorexant
In a Phase 2 pediatric insomnia study, daridorexant not only improved sleep but also showed unexpected improvements in affect and behavior, cognition, and daily functioning in children with ASD or ASD-like characteristics. Supported by these findings, internal research, and external scientific evidence, Idorsia plans to initiate a dedicated development program in ASD, opening up a new scientific avenue for daridorexant (press release). Further details will be presented in H1 2027 following regulatory discussions.

Advance innovation and the pipeline
While commercial execution remains the company’s primary focus, Idorsia continued to advance a selective portfolio of future growth opportunities during the quarter. Highlights included the initiation of the pivotal Phase 3 FAB-KLEAR study of lucerastat in Fabry disease, as well as the signing of a co-development and commercialization agreement with Nxera Pharma covering Japan and selected Asia-Pacific markets (press release). The company also continued progress across first-in-class immunology and neuroscience programs while demonstrating disciplined capital allocation by discontinuing the CCR6 program after the results did not live up to expectations and reallocating resources toward higher-priority opportunities.

Arno Groenewoud, Chief Financial Officer of Idorsia, commented:
“Our financial performance in the first nine months of 2026 was in line with our expectations, reflecting continued growth of QUVIVIQ and disciplined management of our operating expenses. Based on our year-to-date performance and outlook for the remainder of the year, we confirm our full-year 2026 guidance with an improvement of the US GAAP operating loss. We remain in a strong liquidity position, with QUVIVIQ’s commercial business profitable, enabling us to invest today in the growth of tomorrow.”

Financial highlights for 9M 2026

QUVIVIQ sales: CHF 142 million (excluding sales to partners)
Non-GAAP contract revenues: CHF 12 million
Non-GAAP operating expenses: CHF 251 million
Non-GAAP operating loss: CHF 85 million (US GAAP: CHF 99 million)
Strong liquidity profile: Access to liquidity of CHF 185 million, including the remaining CHF 100 million available under the secured term loan with Pharmakon

Financial Guidance

Full-year 2026 guidance reaffirmed with an improvement of the US GAAP operating loss
QUVIVIQ sales: CHF 200 million
Non-GAAP operating expenses: ~CHF 330 million
Non-GAAP operating loss: ~CHF 120 million
US GAAP operating loss: ~CHF 140 million (reduced from ~CHF 160 million)

The financial guidance for 2026 reflects continued growth of QUVIVIQ, investment in the lucerastat registration program, and development of the company’s immunology portfolio. TRYVIO/JERAYGO revenues and investments are not included, as these will be considered in any potential partnership agreement. All amounts exclude unforeseen events and any potential upsides from new direct-to-patient distribution models currently being implemented in several geographies and revenue related to additional business development activities.

Financial results nine months 2026

US GAAP results	Nine Months		Third Quarter
in CHF millions, except EPS (CHF) and number of shares (millions)	2026	2025	2026	2025
Net revenue	172	173	62	41
Operating expenses	(272)	(162)	(98)	(87)
Operating income (loss)	(99)	23	(36)	(41)
Net income (loss)	(206)	(34)	(53)	(86)
Basic and diluted EPS	(0.80)	(0.17)	(0.20)	(0.40)
Basic and diluted weighted average number of shares	258.1	203.4	266.2	214.5

Net revenue of CHF 172 million in the first nine months of 2026 resulted from product sales (CHF 142 million), product sales to partners (CHF 12 million), and contract revenues (CHF 18 million). This compares to net revenue of CHF 173 million in the first nine months of 2025 as a result of QUVIVIQ product sales (CHF 92 million), product sales to partners (CHF 3 million), and contract revenue (CHF 78 million).

US GAAP operating expenses were CHF 272 million in the first nine months of 2026, with an increase of CHF 20 million compared to the first nine months of 2025 (excluding a one-off gain of CHF 90 million in the first nine months of 2025). Cost of sales of CHF 33 million increased by CHF 21 million due to higher product sales. R&D expenses of CHF 80 million and SG&A expenses of CHF 159 million together remain almost flat.

US GAAP net loss in the first nine months of 2026 of CHF 206 million compared to CHF 34 million in the first nine months of 2025. The increased net loss was primarily driven by the increase of financial expenses of CHF 54 million (mainly non-cash interests on the debt notes, non-cash accretion of the New Money Facility loan, and non-cash debt extinguishment loss), as well as the increase in operating expenses of CHF 110 million, of which CHF 21 million related to cost of sales driven by higher product sales and CHF 90 million relate to a non-recurring one-off gain in 2025.

The US GAAP net loss resulted in a net loss per share of CHF (0.80) (basic and diluted) in the first nine months of 2026, compared to a net loss per share of CHF (0.17) basic and diluted in the first nine months of 2025.

Non-GAAP* measures	Nine Months		Third Quarter
in CHF millions, except EPS (CHF) and number of shares (millions)	2026	2025	2026	2025
Net revenue	166	167	61	37
Operating expenses	(251)	(232)	(91)	(80)
Operating income (loss)	(85)	(53)	(30)	(38)
Net income (loss)	(123)	(65)	(44)	(40)
Basic and diluted EPS	(0.48)	(0.32)	(0.17)	(0.19)
Basic and diluted weighted average number of shares	258.1	203.4	266.2	214.5

* Idorsia measures, reports, and issues guidance on non-GAAP operating performance. Idorsia believes that these non-GAAP financial measurements more accurately reflect the underlying business performance and therefore provide useful supplementary information to investors. These non-GAAP measures are reported in addition to, not as a substitute for, US GAAP financial performance.

Non-GAAP net loss in the first nine months of 2026 amounted to CHF 123 million; the difference versus US GAAP net loss was mainly driven by depreciation and amortization (CHF 11 million), share-based compensation (CHF 9 million), accretion expenses (CHF 16 million), interest expense recognized under the R-Bridge royalty monetization agreement (CHF 6 million) and debt extinguishment loss (CHF 47 million) relating to the repayment of the New Money Facility loan, offset by non-cash revenue recognized under the R-Bridge royalty monetization agreement (CHF 7 million).

The non-GAAP net loss resulted in a net loss per share of CHF 0.48 (basic and diluted) in the first nine months of 2026, compared to a net loss per share of CHF 0.32 (basic and diluted) in the first nine months of 2025.

About the Pharmakon Secured Term Loan
In June 2026, Idorsia entered into a senior secured term loan agreement of up to CHF 250 million with investment funds managed by Pharmakon Advisors, LP, at a fixed 7% interest rate (“Secured Term Loan”). Idorsia received a first tranche of CHF 150 million and partially used it to fully repay the CHF 105 million drawn under the previously existing New Money Facility, plus OID and interests. The transaction removed near-term maturities and strengthened Idorsia’s liquidity profile. Additional tranches may be drawn – subject to customary conditions – providing further financial flexibility to support targeted initiatives to accelerate growth and long‑term value creation.

Liquidity and indebtedness
Liquidity on September 30, 2026, amounted to CHF 85 million. This amount does not include the remaining CHF 100 million available under the secured term loan.

(in CHF millions*)	Sept 30, 2026	June 30, 2026	Dec 31, 2025
Liquidity
Cash and cash equivalents	85	89	89
Total liquidity	85	89	89

Indebtedness
Convertible loan	250	250	335
Convertible bonds	44	49	49
Debt notes in the SPV**	783	766	753
Term loan	146	146	18
Other financial debt	188	186	187
Total indebtedness	1,410	1,397	1,342
Total indebtedness excl. debt notes in the SPV	627	631	589

* rounding differences may occur
** The debt notes issued by Idorsia Investments SARL (“SPV”) in exchange for convertible bonds are senior secured with the shares in Idorsia Investments SARL. The A Notes only benefit from a limited and subordinated Swiss-law governed guarantee by Idorsia Ltd.

Results Day Center
Investor community: To make your job easier, we provide all relevant documentation, including the financial report, via the Results Day Center on our corporate website: www.idorsia.com/results-day-center.

Events

Octavian QuickBite Lunch in Zurich on Nov 3, 2026.
Guggenheim Healthcare Innovation Conference in Boston on Nov 9, 2026.
Stifel Healthcare Conference in New York on Nov 11, 2026.
UBS Global Biopharma Conference in London on Nov 16, 2026.
Jefferies Global Healthcare Conference in London on Nov 17, 2026.
Evercore Healthcare Conference in Miami on Nov 30, 2026.
Citi Global Healthcare Conference in Miami on Dec 2, 2026.
Deutsche Bank C-Suite call series on Dec 10, 2026.
J.P. Morgan 2027 Healthcare Conference in San Francisco, Jan 11-14, 2027.
Octavian Seminar in Davos on Jan 15, 2027.
Full-year 2026 Financial Results reporting on February 25, 2027.
First quarter 2027 Financial Results reporting on April 29, 2027.
Annual General Meeting of Shareholders 2027 on May 13, 2027.

Notes to the editor

About Idorsia
The purpose of Idorsia is to discover, develop and commercialize innovative medicines to help more patients. To achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.

Headquartered near Basel, Switzerland – a European biotech hub – Idorsia has a highly experienced team of dedicated professionals, covering all disciplines from bench to bedside; QUVIVIQ™ (daridorexant), a different kind of insomnia treatment with the potential to revolutionize this mounting public health concern; strong partners to maximize the value of our portfolio; a promising in-house development pipeline; and a specialized drug discovery engine focused on small-molecule drugs that can change the treatment paradigm for many patients. Idorsia is listed on the SIX Swiss Exchange (ticker symbol: IDIA).

For further information, please contact
Kevin Boss
Director, Investor Relations
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com – media.relations@idorsia.com – www.idorsia.com

The above information contains certain “forward-looking statements”, relating to the company’s business, which can be identified by the use of forward-looking terminology such as “intend”, “estimates”, “believes”, “expects”, “may”, “are expected to”, “will”, “will continue”, “should”, “would be”, “seeks”, “pending” or “anticipates” or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company’s investment and research and development programs, business development activities and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company’s existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Idorsia has transferred its rights for aprocitentan, cenerimod and selatogrel to Idorsia Investments SARL to allow the repayment of notes issued in connection with the repurchase offer completed in August 2025. More details on the transfer can be found in the financial report of Idorsia Investments SARL.

Attachment

Press Release PDF

Posted in UncategorizedTagged GlobeNewswire

STMicroelectronics Reports Q3 2026 Financial Results

Posted on October 29, 2026 by Ravi Shankar

PR No: C3419C

STMicroelectronics Reports Q3 2026 Financial Results

Q326 net revenues at $3.76 billion
Gross margin at 37.3%
Operating income at $367 million (non-U.S. GAAP¹ operating income at $429 million)
Business outlook at mid-point: Q426 net revenues of $4.15 billion and gross margin of 39.0%

Geneva, October 29, 2026 – STMicroelectronics N.V. (“ST”) (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the third quarter ended September 26, 2026. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported third quarter net revenues of $3.76 billion, gross margin of 37.3%, operating income of $367 million, and net income of $291 million or $0.31 diluted earnings per share (non-U.S. GAAP¹ operating income of $429 million, and non-U.S. GAAP¹ net income of $344 million or $0.37 diluted earnings per share).

Jean-Marc Chery, ST President & CEO, commented:

“Q3 net revenues came above the mid-point of our business outlook range, driven by higher revenues in CECP and Personal Electronics. Gross margin was above the mid-point of our business outlook range.”
“On a year-over-year basis, Q3 net revenues increased 17.9%. Q3 gross margin was 37.3%, operating margin was 9.8% and net income was $291 million. On a non-U.S. GAAP¹ basis operating margin was 11.4% and net income was $344 million.”
“During the quarter, demand increased further supported by strong bookings and improving visibility, while inventory in distribution continued to track below our standard target. Together, these indicators confirm the continued ongoing recovery and secular growth across the markets we serve.”
“Our fourth quarter business outlook, at the mid-point, is for net revenues of $4.15 billion, increasing about 10.5% sequentially and about 24.7% year-over-year. Gross margin is expected to be about 39.0%, including about 40 basis points of unused capacity charges.”
“The mid-point of this outlook translates into full year 2026 revenues of about $14.5 billion, representing a 22.8% year-over-year increase. Beyond the cyclical recovery across our end markets, the year-over-year growth is supported by ST’s company specific growth drivers, including AI datacenters and LEO satellite communication. Gross margin is expected to be about 36.4%, non-U.S. GAAP¹ gross margin is expected to be about 36.6%, representing an improvement of 270 basis points versus FY25.”
“In an environment where demand remains well above supply, we continue to expand capacity aligned with ST’s strategic roadmap. We remain focused on improving profitability consistent with our intermediate financial model. This is driven by our company-specific growth drivers and the execution of our company-wide program to reshape our manufacturing footprint and resize our global cost base.”

Quarterly Financial Summary

U.S. GAAP (US$ m, except per share data)	Q3 2026	Q2 2026	Q3 2025	Q/Q	Y/Y
Net Revenues	$3,757	$3,487	$3,187	7.7%	17.9%
Gross Profit	$1,401	$1,215	$1,059	15.3%	32.2%
Gross Margin	37.3%	34.8%	33.2%	250 bps	410 bps
Operating Income	$367	$187	$180	96.4%	104.5%
Operating Margin	9.8%	5.4%	5.6%	440 bps	420 bps
Net Income	$291	$222	$237	31.2%	22.8%
Diluted Earnings Per Share	$0.31	$0.24	$0.26	29.2%	19.2%
Non-U.S. GAAP¹ (US$ m, except per share data)	Q3 2026	Q2 2026	Q3 2025	Q/Q	Y/Y
Gross Profit	$1,401	$1,229	$1,059	14.0%	32.2%
Gross Margin	37.3%	35.2%	33.2%	210 bps	410 bps
Operating Income	$429	$269	$217	59.3%	98.0%
Operating Margin	11.4%	7.7%	6.8%	370 bps	460 bps
Net Income	$344	$291	$267	17.9%	28.7%
Diluted Earnings Per Share	$0.37	$0.31	$0.29	19.4%	27.6%

Third Quarter 2026 Summary Review

Net Revenues by Reportable Segment²(US$ m)	Q3 2026	Q2 2026	Q3 2025	Q/Q	Y/Y
Analog products, MEMS and Sensors (AM&S) segment	1,560	1,426	1,434	9.4%	8.8%
Power and discrete products (P&D) segment	477	464	429	2.8%	11.3%
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group	2,037	1,890	1,863	7.7%	9.4%
Embedded Processing (EMP) segment	1,212	1,147	976	5.7%	24.1%
RF Optical Communications (RFOC) segment	504	445	345	13.4%	46.2%
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group	1,716	1,592	1,321	7.8%	29.9%
Others	4	5	3	–	–
Total Net Revenues	$3,757	$3,487	$3,187	7.7%	17.9%

Net revenues totaled $3.76 billion, representing a year-over-year increase of 17.9%. Year-over-year net sales to OEMs and Distribution increased 10.2% and 38.8%, respectively. On a sequential basis, net revenues increased 7.7%, 150 basis points better than the mid-point of ST’s guidance.

Gross profit totaled $1.40 billion, representing a year-over-year increase of 32.2%. Gross margin of 37.3%, increased 410 basis points year-over-year, mainly due to lower unused capacity charges and better product mix.

Operating income increased from $180 million in the year-ago quarter to $367 million. ST’s operating margin increased on a year-over-year basis to 9.8% of net revenues, compared to 5.6% in the third quarter of 2025. Operating income included $55 million impairment, restructuring charges and other related phase-out costs for the quarter, mainly reflecting charges related to the execution of our company-wide program to reshape our manufacturing footprint and resize our global cost base and $7 million purchase price allocation (PPA) effects from the acquisition of NXP’s MEMS sensor business. Excluding these items, non-U.S. GAAP¹ Operating income stood at $429 million in the third quarter (or 11.4% non-U.S. GAAP¹ operating margin).

By reportable segment, compared with the year-ago quarter:

In Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group:

Analog products, MEMS and Sensors (AM&S)² segment:

Revenue increased 8.8% mainly due to MEMS and, to a lesser extent, Analog and Imaging.
Operating profit decreased by 0.6% to $219 million. Operating margin was 14.1% compared to 15.4%.

Power and Discrete products (P&D) segment:

Revenue increased 11.3%.
Operating results decreased from a loss of $67 million to a loss of $81 million. Operating margin was -17.1% compared to -15.6%.

In Microcontrollers, Digital ICs and RF products (MDRF) Product Group:

Embedded Processing (EMP) segment:

Revenue increased 24.1% mainly due to General Purpose MCU.
Operating profit increased by 74.2% to $280 million. Operating margin was 23.1% compared to 16.5%.

RF Optical Communications (RFOC) segment:

Revenue increased 46.2%.
Operating profit increased by 131.2% to $132 million. Operating margin was 26.2% compared to 16.6%.

Net income and diluted Earnings Per Share increased to $291 million and $0.31 respectively, compared to $237 million and $0.26 respectively in the year-ago quarter. In the third quarter of 2026 non-U.S. GAAP¹ Net income stood at $344 million and non-U.S. GAAP¹ diluted Earnings Per Share stood at $0.37.

Cash Flow and Balance Sheet Highlights

				Trailing 12 Months
(US$ m)	Q3 2026	Q2 2026	Q3 2025	Q3 2026	Q3 2025	TTM Change
Net cash from operating activities	1,020	502	549	2,730	2,158	26.5%
Free cash flow (non-U.S. GAAP¹)	351	75	130	(40)²	136	–

Net cash from operating activities was $1.02 billion in the third quarter compared to $549 million in the year-ago quarter.

Net Capex (non-U.S. GAAP¹), was $643 million in the third quarter compared to $401 million in the year-ago quarter.

Free cash flow (non-U.S. GAAP¹) was positive at $351 million in the third quarter compared to positive $130 million in the year-ago quarter.

Inventory at the end of the third quarter was $3.25 billion, compared to $3.19 billion in the previous quarter and $3.17 billion in the year-ago quarter. Days sales of inventory at quarter-end was 126 days, same as the previous quarter and compared to 135 days for the year-ago quarter.

In the third quarter, ST paid cash dividends to its stockholders totaling $83 million and executed a $91 million share buyback, as part of its current share repurchase program.

ST’s net financial position (non-U.S. GAAP³) remained strong at $2.11 billion as of September 26, 2026, compared to $2.01 billion as of June 27, 2026, and reflected total liquidity of $5.31 billion and total financial debt of $3.21 billion. Adjusted net financial position (non-U.S. GAAP¹), taking into consideration the effect on total liquidity of advances from capital grants for which capital expenditures have not been incurred yet, stood at $1.81 billion as of September 26, 2026.

Following the exercise of the call option for the early redemption of ST’s convertible debt due in 2027, bondholders exercised their conversion rights on the total of $750 million convertible bonds. ST settled the bond on a net-share basis, delivering $750 million in cash and about 4.2 million shares from treasury stock.

Business Outlook

ST’s guidance, at the mid-point, for the 2026 fourth quarter is:

Net revenues are expected to be $4.15 billion, an increase of 10.5% sequentially, plus or minus 350 basis points.
Gross margin of 39.0%, plus or minus 200 basis points.
This outlook is based on an assumed effective currency exchange rate of approximately $1.14 = €1.00 for the 2026 fourth quarter and includes the impact of existing hedging contracts.
The fourth quarter will close on December 31, 2026.

This business outlook does not include any impact of potential further changes to global trade tariffs compared to the current situation.

Conference Call and Webcast Information

ST will conduct a conference call with analysts, investors and reporters to discuss its third quarter 2026 financial results and current business outlook today at 9:30 a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time (ET). A live webcast (listen-only mode) of the conference call will be accessible at ST’s website, https://investors.st.com, and will be available for replay until November 13, 2026.

Use of Supplemental Non-U.S. GAAP Financial Information

This press release contains supplemental non-U.S. GAAP financial information.

Readers are cautioned that these measures are unaudited and not prepared in accordance with U.S. GAAP and should not be considered as a substitute for U.S. GAAP financial measures. In addition, such non-U.S. GAAP financial measures may not be comparable to similarly titled information from other companies. To compensate for these limitations, the supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with ST’s consolidated financial statements prepared in accordance with U.S. GAAP.

See the Appendix of this press release for a reconciliation of ST’s non-U.S. GAAP financial measures to their corresponding U.S. GAAP financial measures.

Forward-looking Information

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) that are based on management’s current views and assumptions, and are conditioned upon and also involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those anticipated by such statements due to, among other factors:

changes in global trade policies, including the continuation, adoption and expansion of tariffs and trade barriers and sanctions, that are affecting and could further affect the macro-economic environment and are adversely impacting and could further adversely impact the demand for our products;
uncertain macro-economic and industry trends (such as inflation and fluctuations in supply chains), which are impacting and may further impact production capacity and end-market demand for our products;
customer demand that differs from projections which may require us to undertake transformation measures that may not be successful in realizing the expected benefits in full or at all;
the ability to design, manufacture and sell innovative products in a rapidly changing technological environment;
changes in economic, social, public health, labor, political, or infrastructure conditions in the locations where we, our customers, or our suppliers operate, including as a result of macro-economic or regional events, geopolitical and military conflicts, social unrest, labor actions, or terrorist activities;
unanticipated events or circumstances, which may impact our ability to execute our plans and/or meet the objectives of our research and development and manufacturing programs, which benefit from public funding;
financial difficulties with any of our major distributors or significant curtailment of purchases by key customers;
the loading, product mix, and manufacturing performance of our production facilities and/or our required volume to fulfill capacity reserved with suppliers or third-party manufacturing providers;
availability and costs of equipment, raw materials, utilities, third-party manufacturing services and technology, or other supplies required by our operations (including increasing costs resulting from inflation);
the functionalities and performance of our IT systems, which are subject to cybersecurity threats and which support our critical operational activities including manufacturing, finance and sales, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology;
theft, loss, or misuse of personal data about our employees, customers, or other third parties, and breaches of data privacy legislation;
the impact of intellectual property claims by our competitors or other third parties, and our ability to obtain required licenses on reasonable terms and conditions;
changes in our overall tax position as a result of changes in tax rules, new or revised legislation, the outcome of tax audits or changes in international tax treaties which may impact our results of operations as well as our ability to accurately estimate tax credits, benefits, deductions and provisions and to realize deferred tax assets;
variations in the foreign exchange markets and, more particularly, the U.S. dollar exchange rate as compared to the Euro and the other major currencies we use for our operations;
the outcome of ongoing litigation as well as the impact of any new litigation to which we may become a defendant;
product liability or warranty claims, claims based on epidemic or delivery failure, or other claims relating to our products, or recalls by our customers for products containing our parts;
natural events such as severe weather, earthquakes, tsunamis, volcano eruptions or other acts of nature, the effects of climate change, health risks and epidemics or pandemics in locations where we, our customers or our suppliers operate;
increased regulation and initiatives in our industry, including those concerning climate change and sustainability matters and our goal to become carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027;
epidemics or pandemics, which may negatively impact the global economy in a significant manner for an extended period of time, and could also materially adversely affect our business and operating results;
industry changes resulting from vertical and horizontal consolidation among our suppliers, competitors, and customers;
the ability to successfully ramp up new programs that could be impacted by factors beyond our control, including the availability of critical third-party components and performance of subcontractors in line with our expectations; and
individual customer use of certain products, which may differ from the anticipated uses of such products and result in differences in performance, including energy consumption, may lead to a failure to achieve our disclosed emission-reduction goals, adverse legal action or additional research costs.

Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of our business to differ materially and adversely from the forward-looking statements. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes”, “expects”, “may”, “are expected to”, “should”, “would be”, “seeks” or “anticipates” or similar expressions or the negative thereof or other variations thereof or comparable terminology, or by discussions of strategy, plans or intentions.

Some of these risk factors are set forth and are discussed in more detail in “Item 3. Key Information — Risk Factors” included in our Annual Report on Form 20-F for the year ended December 31, 2025 as filed with the Securities and Exchange Commission (“SEC”) on February 26, 2026. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release as anticipated, believed or expected. We do not intend, and do not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.

Unfavorable changes in the above or other factors listed under “Item 3. Key Information — Risk Factors” from time to time in our SEC filings, could have a material adverse effect on our business and/or financial condition.

About STMicroelectronics

At ST, we are 49,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloudconnected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41 22 929 59 20
jerome.ramel@st.com

MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))

	Three months ended
	September 26,	September 27,
	2026	2025
	(Unaudited)	(Unaudited)

Net sales	3,748	3,183
Other revenues	9	4
NET REVENUES	3,757	3,187
Cost of sales	(2,356)	(2,128)
GROSS PROFIT	1,401	1,059
Selling, general and administrative expenses	(448)	(395)
Research and development expenses	(545)	(502)
Other income and expenses, net	14	55
Impairment, restructuring charges and other related phase-out costs	(55)	(37)
Total operating expenses	(1,034)	(879)
OPERATING INCOME	367	180
Interest income	51	51
Interest expense	(17)	(13)
Other components of pension benefit costs	(4)	(4)
Gain (loss) on financial instruments, net	(39)	79
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	358	293
Income tax expense	(66)	(54)
NET INCOME	292	239
Net income attributable to noncontrolling interest	(1)	(2)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	291	237

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.33	0.27
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.31	0.26

NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS	931.7	918.9

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))

	Nine months ended
	September 26,	September 27,
	2026	2025
	(Unaudited)	(Unaudited)

Net sales	10,318	8,440
Other revenues	21	30
NET REVENUES	10,339	8,470
Cost of sales	(6,678)	(5,643)
GROSS PROFIT	3,661	2,827
Selling, general and administrative expenses	(1,321)	(1,205)
Research and development expenses	(1,616)	(1,506)
Other income and expenses, net	85	169
Impairment, restructuring charges and other related phase-out costs	(184)	(235)
Total operating expenses	(3,036)	(2,777)
OPERATING INCOME	625	50
Interest income	131	173
Interest expense	(45)	(42)
Other components of pension benefit costs	(13)	(13)
Gain (loss) on financial instruments, net	(32)	85
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	666	253
Income tax expense	(106)	(50)
NET INCOME	560	203
Net income attributable to noncontrolling interest	(10)	(7)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	550	196

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.62	0.22
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.60	0.21

NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS	924.8	927.8


STMicroelectronics N.V.
CONSOLIDATED BALANCE SHEETS
As at	September 26,	June 27,	December 31,
In millions of U.S. dollars	2026	2026	2025
	(Unaudited)	(Unaudited)	(Audited)
ASSETS
Current assets:
Cash and cash equivalents	2,612	3,096	2,837
Short-term deposits	1,400	1,800	1,100
Marketable securities	1,300	1,136	985
Trade accounts receivable, net	2,190	2,067	1,745
Inventories	3,248	3,188	3,136
Other current assets	1,488	1,410	1,468
Total current assets	12,238	12,697	11,271
Goodwill	704	705	315
Other intangible assets, net	732	747	324
Property, plant and equipment, net	11,116	10,895	11,058
Non-current deferred tax assets	413	435	408
Long-term investments	111	144	152
Other non-current assets	1,350	1,409	1,272
	14,426	14,335	13,529
Total assets	26,664	27,032	24,800

LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	309	1,063	298
Trade accounts payable	1,840	1,774	1,487
Other payables and accrued liabilities	1,504	1,406	1,440
Dividends payable to stockholders	182	265	89
Accrued income tax	81	62	37
Total current liabilities	3,916	4,570	3,351
Long-term debt	2,897	2,962	1,835
Post-employment benefit obligations	386	382	403
Long-term deferred tax liabilities	55	58	60
Other long-term liabilities	1,126	1,010	926
	4,464	4,412	3,224
Total liabilities	8,380	8,982	6,575
Commitment and contingencies
Equity
Parent company stockholders’ equity
Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 par value, 1,200,000,000 shares authorized, 911,281,920 shares issued, 895,970,755 shares outstanding as of September 26, 2026)	1,157	1,157	1,157
Additional Paid-in Capital	3,333	3,373	3,281
Retained earnings	13,157	12,888	13,082
Accumulated other comprehensive income	702	732	945
Treasury stock	(472)	(506)	(637)
Total parent company stockholders’ equity	17,877	17,644	17,828
Noncontrolling interest	407	406	397
Total equity	18,284	18,050	18,225
Total liabilities and equity	26,664	27,032	24,800


STMicroelectronics N.V.

SELECTED CONSOLIDATED CASH FLOW DATA

Cash Flow Data (in US$ millions)	Q3 2026	Q2 2026	Q3 2025

Net Cash from operating activities	1,020	502	549
Net Cash from (used in) investing activities	(462)	(686)	815
Net Cash from (used in) financing activities	(1,041)	1,392	(980)
Net Cash increase (decrease)	(484)	1,207	383

Selected Cash Flow Data (in US$ millions)	Q3 2026	Q2 2026	Q3 2025

Depreciation & amortization	504	492	482
Net payment for Capital expenditures	(649)	(419)	(417)
Net proceeds from issuance of convertible bonds	–	1,490	–
Settlement of issued convertible bonds	(750)	–	(750)
Dividends paid to stockholders	(83)	(75)	(81)
Change in inventories, net	(61)	(42)	98

Appendix
ST Supplemental Financial Information

	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
Net Revenues By Market Channel (%)
Total OEM	68%	70%	72%	73%	73%
Distribution	32%	30%	28%	27%	27%

€/$ Effective Rate	1.15	1.16	1.16	1.14	1.14

Reportable Segment Data (US$ m)
Analog products, MEMS and Sensors (AM&S) segment
– Net Revenues	1,560	1,426	1,318	1,449	1,434
– Operating Income	219	144	161	235	221
Power and Discrete products (P&D) segment
– Net Revenues	477	464	389	412	429
– Operating Income (Loss)	(81)	(99)	(84)	(124)	(67)
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group
– Net Revenues	2,037	1,890	1,707	1,861	1,863
– Operating Income	138	45	77	111	154
Embedded Processing (EMP) segment
– Net Revenues	1,212	1,147	975	1,015	976
– Operating Income	280	226	164	195	161
RF Optical Communications (RFOC) segment
– Net Revenues	504	445	409	449	345
– Operating Income	132	94	61	105	57
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group
– Net Revenues	1,716	1,592	1,384	1,464	1,321
– Operating Income	412	320	226	300	218
Others ^(a)
– Net Revenues	4	5	4	4	3
– Operating Income (Loss)	(183)	(178)	(232)	(286)	(192)
Total
– Net Revenues	3,757	3,487	3,095	3,329	3,187
– Operating Income	367	187	70	125	180

(a) Net revenues of Others include revenues from sales of assembly services and other revenues. Operating income (loss) of Others include items such as unused capacity charges, including incidents leading to power outage, impairment, restructuring charges and other related phase-out costs, management reorganization costs, start-up costs, and other unallocated income (expenses) such as: strategic or special research and development programs, certain corporate-level operating expenses, patent claims and litigations, and other costs that are not allocated to reportable segments, operating earnings of other products as well as PPA effects from the acquisition of NXP’s MEMS sensor business. With additional cost elements included in the table below:

(US$ m)	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
*Unused capacity charges*	23	37	69	88	*102*
*Impairment, restructuring charges and* *other related phase-out costs*	55	58	71	*141*	37
*PPA effects from the acquisition of NXP’s MEMS sensor business*	7	24	30	–	–

(Appendix – continued)

ST Supplemental Non-U.S. GAAP Financial Information
U.S. GAAP – Non-U.S. GAAP Reconciliation

The supplemental non-U.S. GAAP information presented in this press release is unaudited and subject to inherent limitations. Such non-U.S. GAAP information is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for U.S. GAAP measures. Also, our supplemental non-U.S. GAAP financial information may not be comparable to similarly titled non-U.S. GAAP measures used by other companies. Further, specific limitations for individual non-U.S. GAAP measures, and the reasons for presenting non-U.S. GAAP financial information, are set forth in the paragraphs below. To compensate for these limitations, the supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with our consolidated financial statements prepared in accordance with U.S. GAAP.

ST believes that these non-U.S. GAAP financial measures provide useful information for investors and management because they offer, when read in conjunction with ST’s U.S. GAAP financials, (i) the ability to make more meaningful period-to-period comparisons of ST’s on-going operating results, (ii) the ability to better identify trends in ST’s business and perform related trend analysis, and (iii) to facilitate a comparison of ST’s results of operations against investor and analyst financial models and valuations, which may exclude these items.

Non-U.S. GAAP Gross Profit, Non-U.S. GAAP Operating Income, Non-U.S. GAAP Net Income and Non-U.S. GAAP Diluted Earnings Per Share (non-U.S. GAAP measures)

Operating income before impairment, restructuring charges and other related phase-out costs, and other certain items, is used by management to help enhance an understanding of ongoing operations and to communicate the impact of the excluded items, such as impairment, restructuring charges and other related phase-out costs, and PPA effects. Non-U.S. GAAP gross profit is also used by management to communicate the impact of PPA effects on gross margin. Adjusted net earnings and earnings per share (EPS) are used by management to help enhance an understanding of ongoing operations and to communicate the impact of the excluded items like impairment, restructuring charges and other related phase-out costs and other certain items, such as PPA effects, net of the relevant tax impact.

Q3 2026 (US$ m, except per share data)	Gross Profit	Operating Income	Net Income	Corresponding Diluted EPS
U.S. GAAP	1,401	367	291	0.31
Impairment, restructuring charges and other related phase-out costs	–	55	55
PPA effects of NXP’s MEMS sensor business acquisition	–	7	7
Estimated income tax effect	–	–	(9)
Non-U.S. GAAP	1,401	429	344	0.37

(Appendix – continued)

Net Financial Position and Adjusted Net Financial Position (non-U.S. GAAP measures)

Net Financial Position, a non-U.S. GAAP measure, represents the difference between our total liquidity and our total financial debt. Our total liquidity includes cash and cash equivalents, restricted cash, if any, short-term deposits, and marketable securities, and our total financial debt includes short-term debt and long-term debt, as reported in our Consolidated Balance Sheets. ST also presents adjusted net financial position as a non-U.S. GAAP measure, to take into consideration the effect on total liquidity of advances received on capital grants for which capital expenditures have not been incurred yet.

ST believes its Net Financial Position and Adjusted Net Financial Position provide useful information for investors and management because they give evidence of our global position either in terms of net indebtedness or net cash by measuring our capital resources based on cash and cash equivalents, restricted cash, if any, short-term deposits and marketable securities and the total level of our financial debt. Our definitions of Net Financial Position and Adjusted Net Financial Position may differ from definitions used by other companies, and therefore, comparability may be limited.

(US$ m)	Sep 26 2026	Jun 27 2026	Mar 28 2026	Dec 31 2025	Sep 27 2025
Cash and cash equivalents	2,612	3,096	1,889	2,837	1,999
Short term deposits	1,400	1,800	1,850	1,100	1,450
Marketable securities	1,300	1,136	832	985	1,327
Total liquidity	5,312	6,032	4,571	4,922	4,776
Short-term debt	(309)⁽^b)	(1,063)⁽^b)	(319)	(298)	(256)
Long-term debt ^(a)	(2,897)	(2,962)	(2,250)	(1,835)	(1,910)
Total financial debt	(3,206)	(4,025)	(2,569)	(2,133)	(2,166)
Net Financial Position (non-U.S. GAAP)	2,106	2,007	2,002	2,789	2,610
Advances received on capital grants	(300)	(306)	(316)	(333)	(345)
Adjusted Net Financial Position (non-U.S. GAAP)	1,806	1,701	1,686	2,456	2,265

^(a)Long-term debt contains standard conditions but does not impose minimum financial ratios. Committed credit facilities for $1,198 million equivalent are currently undrawn.
^(b)During Q326 ST net settled its convertible bond due 2027 delivering $750 million in cash and about 4.2 million shares from treasury stock. Q226 short-term debt includes $750 million after the announcement of the early redemption of the convertible bonds due 2027.

(Appendix – continued)

Net Capex and Free Cash Flow (non-U.S. GAAP measures)

ST presents Net Capex as a non-U.S. GAAP measure, which is reported as part of our Free Cash Flow (non-U.S. GAAP measure), to take into consideration the effect of advances from capital grants received on prior periods allocated to property, plant and equipment in the reporting period.

Net Capex, a non-U.S. GAAP measure, is defined as (i) Payment for purchase of tangible assets, as reported plus (ii) Proceeds from sale of tangible assets, as reported plus (iii) Proceeds from capital grants and other contributions, as reported plus (iv) Advances from capital grants allocated to property, plant and equipment in the reporting period.

ST believes Net Capex provides useful information for investors and management because annual capital expenditures budget includes the effect of capital grants. Our definition of Net Capex may differ from definitions used by other companies, and therefore, comparability may be limited.

(US$ m)	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
Payment for purchase of tangible assets, as reported	(683)	(453)	(549)	(518)	(431)
Proceeds from capital grants and other contributions, as reported	31	34	167	111	11
Advances from capital grants allocated to property, plant and equipment	6	10	17	12	16
Proceeds from sale of tangible assets, as reported	3	–	3	–	3
Net Capex (non-U.S. GAAP)	(643)	(409)	(362)	(395)	(401)

Free Cash Flow, which is a non-U.S. GAAP measure, is defined as (i) net cash from operating activities plus (ii) Net Capex plus (iii) payment for purchase (and proceeds from sale) of intangible and financial assets and (iv) net cash paid for business acquisitions, if any.

ST believes Free Cash Flow provides useful information for investors and management because it measures our capacity to generate cash from our operating and investing activities to sustain our operations.

Free Cash Flow reconciles with the total cash flow and the net cash increase (decrease) by including the payment for purchases of (and proceeds from matured) marketable securities and net investment in (and proceeds from) short-term deposits, the net cash from (used in) financing activities and the effect of changes in exchange rates, and by excluding the advances from capital grants received on prior periods allocated to property, plant and equipment in the reporting period. Our definition of Free Cash Flow may differ from definitions used by other companies, and therefore, comparability may be limited.

(US$ m)	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
Net cash from operating activities	1,020	502	534	674	549
Net Capex	(643)	(409)	(362)	(395)	(401)
Payment for purchase of intangible assets, net of proceeds from sale	(20)	(31)	(17)	(20)	(18)
Proceeds from (payment for) financial assets	(6)	13	17	(2)	–
Payment for business acquisitions^(a)	–	–	(895)	–	–
Free Cash Flow (non-U.S. GAAP)	351	75	(723)	257	130

^(a)Q126 Free cash flow includes $895 million cash-out related to the acquisition of NXP MEMS sensor business.

(Appendix – continued)

Financial Calendar

The financial calendar for the remaining of 2026 is as follows:

December 16, 2026 – January 28, 2027 Quiet period

January 28, 2027 Q4 2026 Financial Results

The financial calendar for 2027 is as follows:

March 16, 2027 – April 22, 2027 Quiet period

April 22, 2027 Q1 2027 Financial Results

June 16, 2027 – July 22, 2027 Quiet period

July 22, 2027 Q2 2027 Financial Results

September 16, 2027 – October 21, 2027 Quiet period

October 21, 2027 Q3 2027 Financial Results

These dates are preliminary and are subject to final confirmation.

¹ Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.
¹ Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.
² Q326 Analog products, MEMS and Sensors (AM&S) segment included revenues associated with NXP’s MEMS sensor business.

³ Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.
² Q126 Free cash flow includes $895 million cash-out related to the acquisition of NXP MEMS sensor business.

Attachment

C3419C – ST – Q326 Earnings PR – 29oct2026

Posted in UncategorizedTagged GlobeNewswire

STMicroelectronics Reports Q3 2026 Financial Results

Posted on October 29, 2026 by Ravi Shankar

PR No: C3419C

STMicroelectronics Reports Q3 2026 Financial Results

Q326 net revenues at $3.76 billion
Gross margin at 37.3%
Operating income at $367 million (non-U.S. GAAP¹ operating income at $429 million)
Business outlook at mid-point: Q426 net revenues of $4.15 billion and gross margin of 39.0%

Jean-Marc Chery, ST President & CEO, commented:

“Q3 net revenues came above the mid-point of our business outlook range, driven by higher revenues in CECP and Personal Electronics. Gross margin was above the mid-point of our business outlook range.”
“On a year-over-year basis, Q3 net revenues increased 17.9%. Q3 gross margin was 37.3%, operating margin was 9.8% and net income was $291 million. On a non-U.S. GAAP¹ basis operating margin was 11.4% and net income was $344 million.”
“During the quarter, demand increased further supported by strong bookings and improving visibility, while inventory in distribution continued to track below our standard target. Together, these indicators confirm the continued ongoing recovery and secular growth across the markets we serve.”
“Our fourth quarter business outlook, at the mid-point, is for net revenues of $4.15 billion, increasing about 10.5% sequentially and about 24.7% year-over-year. Gross margin is expected to be about 39.0%, including about 40 basis points of unused capacity charges.”
“The mid-point of this outlook translates into full year 2026 revenues of about $14.5 billion, representing a 22.8% year-over-year increase. Beyond the cyclical recovery across our end markets, the year-over-year growth is supported by ST’s company specific growth drivers, including AI datacenters and LEO satellite communication. Gross margin is expected to be about 36.4%, non-U.S. GAAP¹ gross margin is expected to be about 36.6%, representing an improvement of 270 basis points versus FY25.”
“In an environment where demand remains well above supply, we continue to expand capacity aligned with ST’s strategic roadmap. We remain focused on improving profitability consistent with our intermediate financial model. This is driven by our company-specific growth drivers and the execution of our company-wide program to reshape our manufacturing footprint and resize our global cost base.”

Quarterly Financial Summary

U.S. GAAP (US$ m, except per share data)	Q3 2026	Q2 2026	Q3 2025	Q/Q	Y/Y
Net Revenues	$3,757	$3,487	$3,187	7.7%	17.9%
Gross Profit	$1,401	$1,215	$1,059	15.3%	32.2%
Gross Margin	37.3%	34.8%	33.2%	250 bps	410 bps
Operating Income	$367	$187	$180	96.4%	104.5%
Operating Margin	9.8%	5.4%	5.6%	440 bps	420 bps
Net Income	$291	$222	$237	31.2%	22.8%
Diluted Earnings Per Share	$0.31	$0.24	$0.26	29.2%	19.2%
Non-U.S. GAAP¹ (US$ m, except per share data)	Q3 2026	Q2 2026	Q3 2025	Q/Q	Y/Y
Gross Profit	$1,401	$1,229	$1,059	14.0%	32.2%
Gross Margin	37.3%	35.2%	33.2%	210 bps	410 bps
Operating Income	$429	$269	$217	59.3%	98.0%
Operating Margin	11.4%	7.7%	6.8%	370 bps	460 bps
Net Income	$344	$291	$267	17.9%	28.7%
Diluted Earnings Per Share	$0.37	$0.31	$0.29	19.4%	27.6%

Third Quarter 2026 Summary Review

Net Revenues by Reportable Segment²(US$ m)	Q3 2026	Q2 2026	Q3 2025	Q/Q	Y/Y
Analog products, MEMS and Sensors (AM&S) segment	1,560	1,426	1,434	9.4%	8.8%
Power and discrete products (P&D) segment	477	464	429	2.8%	11.3%
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group	2,037	1,890	1,863	7.7%	9.4%
Embedded Processing (EMP) segment	1,212	1,147	976	5.7%	24.1%
RF Optical Communications (RFOC) segment	504	445	345	13.4%	46.2%
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group	1,716	1,592	1,321	7.8%	29.9%
Others	4	5	3	–	–
Total Net Revenues	$3,757	$3,487	$3,187	7.7%	17.9%

By reportable segment, compared with the year-ago quarter:

In Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group:

Analog products, MEMS and Sensors (AM&S)² segment:

Revenue increased 8.8% mainly due to MEMS and, to a lesser extent, Analog and Imaging.
Operating profit decreased by 0.6% to $219 million. Operating margin was 14.1% compared to 15.4%.

Power and Discrete products (P&D) segment:

Revenue increased 11.3%.
Operating results decreased from a loss of $67 million to a loss of $81 million. Operating margin was -17.1% compared to -15.6%.

In Microcontrollers, Digital ICs and RF products (MDRF) Product Group:

Embedded Processing (EMP) segment:

Revenue increased 24.1% mainly due to General Purpose MCU.
Operating profit increased by 74.2% to $280 million. Operating margin was 23.1% compared to 16.5%.

RF Optical Communications (RFOC) segment:

Revenue increased 46.2%.
Operating profit increased by 131.2% to $132 million. Operating margin was 26.2% compared to 16.6%.

Cash Flow and Balance Sheet Highlights

				Trailing 12 Months
(US$ m)	Q3 2026	Q2 2026	Q3 2025	Q3 2026	Q3 2025	TTM Change
Net cash from operating activities	1,020	502	549	2,730	2,158	26.5%
Free cash flow (non-U.S. GAAP¹)	351	75	130	(40)²	136	–

Net cash from operating activities was $1.02 billion in the third quarter compared to $549 million in the year-ago quarter.

Net Capex (non-U.S. GAAP¹), was $643 million in the third quarter compared to $401 million in the year-ago quarter.

Free cash flow (non-U.S. GAAP¹) was positive at $351 million in the third quarter compared to positive $130 million in the year-ago quarter.

In the third quarter, ST paid cash dividends to its stockholders totaling $83 million and executed a $91 million share buyback, as part of its current share repurchase program.

Business Outlook

ST’s guidance, at the mid-point, for the 2026 fourth quarter is:

Net revenues are expected to be $4.15 billion, an increase of 10.5% sequentially, plus or minus 350 basis points.
Gross margin of 39.0%, plus or minus 200 basis points.
This outlook is based on an assumed effective currency exchange rate of approximately $1.14 = €1.00 for the 2026 fourth quarter and includes the impact of existing hedging contracts.
The fourth quarter will close on December 31, 2026.

This business outlook does not include any impact of potential further changes to global trade tariffs compared to the current situation.

Conference Call and Webcast Information

Use of Supplemental Non-U.S. GAAP Financial Information

This press release contains supplemental non-U.S. GAAP financial information.

See the Appendix of this press release for a reconciliation of ST’s non-U.S. GAAP financial measures to their corresponding U.S. GAAP financial measures.

Forward-looking Information

changes in global trade policies, including the continuation, adoption and expansion of tariffs and trade barriers and sanctions, that are affecting and could further affect the macro-economic environment and are adversely impacting and could further adversely impact the demand for our products;
uncertain macro-economic and industry trends (such as inflation and fluctuations in supply chains), which are impacting and may further impact production capacity and end-market demand for our products;
customer demand that differs from projections which may require us to undertake transformation measures that may not be successful in realizing the expected benefits in full or at all;
the ability to design, manufacture and sell innovative products in a rapidly changing technological environment;
changes in economic, social, public health, labor, political, or infrastructure conditions in the locations where we, our customers, or our suppliers operate, including as a result of macro-economic or regional events, geopolitical and military conflicts, social unrest, labor actions, or terrorist activities;
unanticipated events or circumstances, which may impact our ability to execute our plans and/or meet the objectives of our research and development and manufacturing programs, which benefit from public funding;
financial difficulties with any of our major distributors or significant curtailment of purchases by key customers;
the loading, product mix, and manufacturing performance of our production facilities and/or our required volume to fulfill capacity reserved with suppliers or third-party manufacturing providers;
availability and costs of equipment, raw materials, utilities, third-party manufacturing services and technology, or other supplies required by our operations (including increasing costs resulting from inflation);
the functionalities and performance of our IT systems, which are subject to cybersecurity threats and which support our critical operational activities including manufacturing, finance and sales, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology;
theft, loss, or misuse of personal data about our employees, customers, or other third parties, and breaches of data privacy legislation;
the impact of intellectual property claims by our competitors or other third parties, and our ability to obtain required licenses on reasonable terms and conditions;
changes in our overall tax position as a result of changes in tax rules, new or revised legislation, the outcome of tax audits or changes in international tax treaties which may impact our results of operations as well as our ability to accurately estimate tax credits, benefits, deductions and provisions and to realize deferred tax assets;
variations in the foreign exchange markets and, more particularly, the U.S. dollar exchange rate as compared to the Euro and the other major currencies we use for our operations;
the outcome of ongoing litigation as well as the impact of any new litigation to which we may become a defendant;
product liability or warranty claims, claims based on epidemic or delivery failure, or other claims relating to our products, or recalls by our customers for products containing our parts;
natural events such as severe weather, earthquakes, tsunamis, volcano eruptions or other acts of nature, the effects of climate change, health risks and epidemics or pandemics in locations where we, our customers or our suppliers operate;
increased regulation and initiatives in our industry, including those concerning climate change and sustainability matters and our goal to become carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027;
epidemics or pandemics, which may negatively impact the global economy in a significant manner for an extended period of time, and could also materially adversely affect our business and operating results;
industry changes resulting from vertical and horizontal consolidation among our suppliers, competitors, and customers;
the ability to successfully ramp up new programs that could be impacted by factors beyond our control, including the availability of critical third-party components and performance of subcontractors in line with our expectations; and
individual customer use of certain products, which may differ from the anticipated uses of such products and result in differences in performance, including energy consumption, may lead to a failure to achieve our disclosed emission-reduction goals, adverse legal action or additional research costs.

About STMicroelectronics

For further information, please contact:

INVESTOR RELATIONS:
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41 22 929 59 20
jerome.ramel@st.com

MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))

	Three months ended
	September 26,	September 27,
	2026	2025
	(Unaudited)	(Unaudited)

Net sales	3,748	3,183
Other revenues	9	4
NET REVENUES	3,757	3,187
Cost of sales	(2,356)	(2,128)
GROSS PROFIT	1,401	1,059
Selling, general and administrative expenses	(448)	(395)
Research and development expenses	(545)	(502)
Other income and expenses, net	14	55
Impairment, restructuring charges and other related phase-out costs	(55)	(37)
Total operating expenses	(1,034)	(879)
OPERATING INCOME	367	180
Interest income	51	51
Interest expense	(17)	(13)
Other components of pension benefit costs	(4)	(4)
Gain (loss) on financial instruments, net	(39)	79
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	358	293
Income tax expense	(66)	(54)
NET INCOME	292	239
Net income attributable to noncontrolling interest	(1)	(2)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	291	237

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.33	0.27
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.31	0.26

NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS	931.7	918.9

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))

	Nine months ended
	September 26,	September 27,
	2026	2025
	(Unaudited)	(Unaudited)

Net sales	10,318	8,440
Other revenues	21	30
NET REVENUES	10,339	8,470
Cost of sales	(6,678)	(5,643)
GROSS PROFIT	3,661	2,827
Selling, general and administrative expenses	(1,321)	(1,205)
Research and development expenses	(1,616)	(1,506)
Other income and expenses, net	85	169
Impairment, restructuring charges and other related phase-out costs	(184)	(235)
Total operating expenses	(3,036)	(2,777)
OPERATING INCOME	625	50
Interest income	131	173
Interest expense	(45)	(42)
Other components of pension benefit costs	(13)	(13)
Gain (loss) on financial instruments, net	(32)	85
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	666	253
Income tax expense	(106)	(50)
NET INCOME	560	203
Net income attributable to noncontrolling interest	(10)	(7)
NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	550	196

EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.62	0.22
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.60	0.21

NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS	924.8	927.8


STMicroelectronics N.V.
CONSOLIDATED BALANCE SHEETS
As at	September 26,	June 27,	December 31,
In millions of U.S. dollars	2026	2026	2025
	(Unaudited)	(Unaudited)	(Audited)
ASSETS
Current assets:
Cash and cash equivalents	2,612	3,096	2,837
Short-term deposits	1,400	1,800	1,100
Marketable securities	1,300	1,136	985
Trade accounts receivable, net	2,190	2,067	1,745
Inventories	3,248	3,188	3,136
Other current assets	1,488	1,410	1,468
Total current assets	12,238	12,697	11,271
Goodwill	704	705	315
Other intangible assets, net	732	747	324
Property, plant and equipment, net	11,116	10,895	11,058
Non-current deferred tax assets	413	435	408
Long-term investments	111	144	152
Other non-current assets	1,350	1,409	1,272
	14,426	14,335	13,529
Total assets	26,664	27,032	24,800

LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	309	1,063	298
Trade accounts payable	1,840	1,774	1,487
Other payables and accrued liabilities	1,504	1,406	1,440
Dividends payable to stockholders	182	265	89
Accrued income tax	81	62	37
Total current liabilities	3,916	4,570	3,351
Long-term debt	2,897	2,962	1,835
Post-employment benefit obligations	386	382	403
Long-term deferred tax liabilities	55	58	60
Other long-term liabilities	1,126	1,010	926
	4,464	4,412	3,224
Total liabilities	8,380	8,982	6,575
Commitment and contingencies
Equity
Parent company stockholders’ equity
Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 par value, 1,200,000,000 shares authorized, 911,281,920 shares issued, 895,970,755 shares outstanding as of September 26, 2026)	1,157	1,157	1,157
Additional Paid-in Capital	3,333	3,373	3,281
Retained earnings	13,157	12,888	13,082
Accumulated other comprehensive income	702	732	945
Treasury stock	(472)	(506)	(637)
Total parent company stockholders’ equity	17,877	17,644	17,828
Noncontrolling interest	407	406	397
Total equity	18,284	18,050	18,225
Total liabilities and equity	26,664	27,032	24,800


STMicroelectronics N.V.

SELECTED CONSOLIDATED CASH FLOW DATA

Cash Flow Data (in US$ millions)	Q3 2026	Q2 2026	Q3 2025

Net Cash from operating activities	1,020	502	549
Net Cash from (used in) investing activities	(462)	(686)	815
Net Cash from (used in) financing activities	(1,041)	1,392	(980)
Net Cash increase (decrease)	(484)	1,207	383

Selected Cash Flow Data (in US$ millions)	Q3 2026	Q2 2026	Q3 2025

Depreciation & amortization	504	492	482
Net payment for Capital expenditures	(649)	(419)	(417)
Net proceeds from issuance of convertible bonds	–	1,490	–
Settlement of issued convertible bonds	(750)	–	(750)
Dividends paid to stockholders	(83)	(75)	(81)
Change in inventories, net	(61)	(42)	98

Appendix
ST Supplemental Financial Information

	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
Net Revenues By Market Channel (%)
Total OEM	68%	70%	72%	73%	73%
Distribution	32%	30%	28%	27%	27%

€/$ Effective Rate	1.15	1.16	1.16	1.14	1.14

Reportable Segment Data (US$ m)
Analog products, MEMS and Sensors (AM&S) segment
– Net Revenues	1,560	1,426	1,318	1,449	1,434
– Operating Income	219	144	161	235	221
Power and Discrete products (P&D) segment
– Net Revenues	477	464	389	412	429
– Operating Income (Loss)	(81)	(99)	(84)	(124)	(67)
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group
– Net Revenues	2,037	1,890	1,707	1,861	1,863
– Operating Income	138	45	77	111	154
Embedded Processing (EMP) segment
– Net Revenues	1,212	1,147	975	1,015	976
– Operating Income	280	226	164	195	161
RF Optical Communications (RFOC) segment
– Net Revenues	504	445	409	449	345
– Operating Income	132	94	61	105	57
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group
– Net Revenues	1,716	1,592	1,384	1,464	1,321
– Operating Income	412	320	226	300	218
Others ^(a)
– Net Revenues	4	5	4	4	3
– Operating Income (Loss)	(183)	(178)	(232)	(286)	(192)
Total
– Net Revenues	3,757	3,487	3,095	3,329	3,187
– Operating Income	367	187	70	125	180

(US$ m)	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
*Unused capacity charges*	23	37	69	88	*102*
*Impairment, restructuring charges and* *other related phase-out costs*	55	58	71	*141*	37
*PPA effects from the acquisition of NXP’s MEMS sensor business*	7	24	30	–	–

(Appendix – continued)

ST Supplemental Non-U.S. GAAP Financial Information
U.S. GAAP – Non-U.S. GAAP Reconciliation

Non-U.S. GAAP Gross Profit, Non-U.S. GAAP Operating Income, Non-U.S. GAAP Net Income and Non-U.S. GAAP Diluted Earnings Per Share (non-U.S. GAAP measures)

Q3 2026 (US$ m, except per share data)	Gross Profit	Operating Income	Net Income	Corresponding Diluted EPS
U.S. GAAP	1,401	367	291	0.31
Impairment, restructuring charges and other related phase-out costs	–	55	55
PPA effects of NXP’s MEMS sensor business acquisition	–	7	7
Estimated income tax effect	–	–	(9)
Non-U.S. GAAP	1,401	429	344	0.37

(Appendix – continued)

Net Financial Position and Adjusted Net Financial Position (non-U.S. GAAP measures)

(US$ m)	Sep 26 2026	Jun 27 2026	Mar 28 2026	Dec 31 2025	Sep 27 2025
Cash and cash equivalents	2,612	3,096	1,889	2,837	1,999
Short term deposits	1,400	1,800	1,850	1,100	1,450
Marketable securities	1,300	1,136	832	985	1,327
Total liquidity	5,312	6,032	4,571	4,922	4,776
Short-term debt	(309)⁽^b)	(1,063)⁽^b)	(319)	(298)	(256)
Long-term debt ^(a)	(2,897)	(2,962)	(2,250)	(1,835)	(1,910)
Total financial debt	(3,206)	(4,025)	(2,569)	(2,133)	(2,166)
Net Financial Position (non-U.S. GAAP)	2,106	2,007	2,002	2,789	2,610
Advances received on capital grants	(300)	(306)	(316)	(333)	(345)
Adjusted Net Financial Position (non-U.S. GAAP)	1,806	1,701	1,686	2,456	2,265

(Appendix – continued)

Net Capex and Free Cash Flow (non-U.S. GAAP measures)

(US$ m)	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
Payment for purchase of tangible assets, as reported	(683)	(453)	(549)	(518)	(431)
Proceeds from capital grants and other contributions, as reported	31	34	167	111	11
Advances from capital grants allocated to property, plant and equipment	6	10	17	12	16
Proceeds from sale of tangible assets, as reported	3	–	3	–	3
Net Capex (non-U.S. GAAP)	(643)	(409)	(362)	(395)	(401)

(US$ m)	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025
Net cash from operating activities	1,020	502	534	674	549
Net Capex	(643)	(409)	(362)	(395)	(401)
Payment for purchase of intangible assets, net of proceeds from sale	(20)	(31)	(17)	(20)	(18)
Proceeds from (payment for) financial assets	(6)	13	17	(2)	–
Payment for business acquisitions^(a)	–	–	(895)	–	–
Free Cash Flow (non-U.S. GAAP)	351	75	(723)	257	130

^(a)Q126 Free cash flow includes $895 million cash-out related to the acquisition of NXP MEMS sensor business.

(Appendix – continued)

Financial Calendar

The financial calendar for the remaining of 2026 is as follows:

December 16, 2026 – January 28, 2027 Quiet period

January 28, 2027 Q4 2026 Financial Results

The financial calendar for 2027 is as follows:

March 16, 2027 – April 22, 2027 Quiet period

April 22, 2027 Q1 2027 Financial Results

June 16, 2027 – July 22, 2027 Quiet period

July 22, 2027 Q2 2027 Financial Results

September 16, 2027 – October 21, 2027 Quiet period

October 21, 2027 Q3 2027 Financial Results

These dates are preliminary and are subject to final confirmation.

Attachment

C3419C – ST – Q326 Earnings PR – 29oct2026

Posted in UncategorizedTagged GlobeNewswire

Renault Group delivers resilient Q3 revenue and confirms its 2026 financial guidance

Posted on October 29, 2026 by Ravi Shankar

Press Release
October 29, 2026

Renault Group delivers resilient Q3 revenue and confirms its 2026 financial guidance

Strong operating fundamentals and disciplined execution demonstrate futuREady in action
2026 9-month revenue:
- Group revenue at €41.8 billion, +7.1% vs 2025 9M, +7.6% at constant exchange rates¹
- Auto revenue at €36.6 billion, +6.6% vs 2025 9M, +7.2% at constant exchange rates¹
- Mobilize Financial Services (MFS) revenue at €5.2 billion, +11.0% vs 2025 9M, +11.1% at constant exchange rates¹
2026 Q3 revenue:
- Group revenue at €11.6 billion, +1.5% vs 2025 Q3, +1.4% at constant exchange rates¹
- Auto revenue at €9.8 billion, +0.0% vs 2025 Q3, -0.2% at constant exchange rates¹
- MFS revenue at €1.8 billion, +11.0% vs 2025 Q3, +11.3% at constant exchange rates¹
Over the first nine months of 2026, Renault Group sold 1.662 million vehicles, slightly down 2.2% year-on-year, demonstrating resilience in a highly competitive environment. Renault brand sales rose 1.1%, supported by renewed and increasingly electrified line-up, lifting the brand to #2 in Europe². Dacia sales declined by 9.7% due to a transition in its product and powertrain cycle in the context of a strong acceleration of customer demand for EVs. Alpine grew by 65.6%, driven by the A290.
In 2026 Q3, Renault Group sales declined by 6.0%, reflecting contrasting brand and regional dynamics. Renault brand sales declined by 2.9% with a 4.6% growth in Europe. During this quarter, Dacia sales were down 12.8%, further penalized by a high comparison base in 2025 Q3. In the meantime, Alpine maintained a strong growth momentum, with sales up 58.4%.
Renault Group rapidly adapted its commercial and industrial execution to the acceleration in European EV demand: EV sales³ rose by 84.7% in 2026 Q3 year-on-year, increasing the Group’s EV mix by 12.2 points to 25.8%. Including HEV and PHEV⁴, electrified sales represented 54.9% of Group’s passenger car (PC) sales in 2026 Q3.
Renault Group maintained strict value discipline this quarter, with retail sales up 5.0% in Europe and retail mix rising by 4.6 points to 64.8%, while reducing exposure to less value-accretive channels: short-term rentals and demo sales decreased by 18.0%. Residual values remained 5 to 13 points above market average.
Total inventories remained at a healthy level (532,000 vehicles at September 30, 2026), while the European orderbook represented c.2 months of forward sales.
Renault Group continues its product offensive in 2026 H2 with a 100% electrified offer: New Megane E-Tech electric, Trafic Van E-Tech electric and Duster E-Tech hybrid for Renault, Sandero Hybrid, New Spring, and Striker for Dacia.
In a challenging environment, Renault Group confirms its 2026 financial outlook:
- Group operating margin around 5.5% of Group revenue. As stated in 2026 H1 financial results, the Group expects a slight margin improvement in H2 vs. H1, with the usual seasonal uplift expected to be less pronounced than in previous years due to higher raw material costs and inflation.
- Automotive free cash flow around €1.0 billion.

“Renault Group delivered resilient Q3 revenue, once again demonstrating the strength and agility of our operating model. Our competitive advantages are built on three complementary brands, a highly utilized and flexible industrial footprint, a strong dealer and aftersales network and our leading financial captive, Mobilize Financial Services. Together, these strengths enable us to adapt swiftly to evolving customer demand while protecting value through disciplined growth, rigorous inventory management, and a clear focus on high-quality sales channels and residual values.

This agility was particularly evident in Q3 as we successfully adapted to Europe’s fast-shifting energy mix, leveraging our dual EV and hybrid strategy along with the efficiency of our manufacturing & supply chain setup.

Combined with our strong product offensive and relentless execution of our cost-reduction efforts, these fundamentals are at the core of futuREady and reinforce our confidence in achieving our 2026 financial guidance.” said Duncan Minto, Chief Financial Officer of Renault Group.

Boulogne-Billancourt, October 29, 2026

Commercial results highlights

Over the first nine months of 2026, Group sales totalled 1,662,222 vehicles, slightly down 2.2% compared with the same period in 2025. This headline reflects contrasted brand and regional dynamics. In Europe, passenger car sales declined by 3.1%, but increased by 6.0% in Northern Europe⁵, supported by strong growth in Germany (+8.6%), the United Kingdom (+3.8%) and Denmark (+24.2%). The Group continued to improve the quality of its sales, with nearly six out of ten passenger cars sold to retail customers, while further accelerating its transition towards electrification. With sales up 59.4%, electric vehicles now account for 20.9% of passenger cars sold. Light commercial vehicle (LCV) sales confirmed their recovery, rising by 7.7% in a market up 1.1%. Internationally, sales increased in the Group’s strategic markets, including India (+36.7%), Türkiye (+3.2%), Morocco (+6.9%) and Brazil (+3.8%).

In the third quarter of 2026, against a backdrop of fierce competition, Renault Group sales totalled 497,799 vehicles, down 6.0%. Yet in Europe the Group further improved the quality of its sales, with almost two out of every three passenger cars sold to retail customers over the period. Renault Group’s EV sales grew even faster, rising 84.7% and accounting for 25.8% of passenger cars sold. Internationally, sales performance was affected by challenging conditions in several key markets. In Türkiye, Group sales declined by 18.0%, outperforming a market down 23.3%. In Latin America, the Group faced intense competition, with additional pressure in Argentina while the local market faced a 19.2% decline.

From a product perspective, the continued rollout of Renault’s international line-up, including the launch of the Niagara pick-up, together with the ongoing success of the brand’s electric models in Europe, the launches of the Dacia Sandero Hybrid, the new Dacia Spring and the Dacia Striker, as well as the Alpine A290, will support the commercial performance in the fourth quarter of 2026.

Renault brand – Sales up, driven by electrification, LCVs and growth in key markets

In the first nine months of 2026, Renault sold 1,178,946 vehicles worldwide, up 1.1% year-on-year. Performance was balanced across passenger car sales, increasing by 0.9% to 930,011 units and LCV sales, rising by 1.6% to 248,935 units. Europe remained a key growth driver, with sales up 3.1%, lifting Renault to second place in the market year-on-year.

Renault continued to accelerate electrification in Europe through its complementary EV and full hybrid strategy. Electrified vehicles represented 68.0% of the brand’s passenger car sales at the end of September (up 8.6 points) and EV sales increased by 75.2%, supported by the success of its renewed line-up. Twingo E-Tech electric has recorded nearly 26,000 sales since its launch and already ranks #1 in its segment⁶.

Alongside volume growth, Renault maintained its value-driven commercial policy, with a continued focus on retail performance, profitable channels and residual-value protection. European PC retail sales grew nearly twice as fast as the market, rising by 20.2% versus 10.7%, with retail market share up 0.5 points.

LCVs remained a key pillar of Renault brand performance, with 192,367 vehicles sold in Europe in the first nine months of 2026. With sales up 8.1%, the brand outperformed the market growth of 1.1% and gained 0.9 points of market share. Kangoo Van and Trafic Van ranked on the podium, while Master led the large-van segment. Renault also strengthened its position in electrified LCVs, with sales up 22.9% at the end of September.

International markets accounted for 36.0% of Renault’s global sales, with 424,915 vehicles sold outside Europe. The brand recorded strong growth in several key markets, including India (+36.7%), Mexico (+17.1%), Colombia (+8.4%), Brazil (+3.8%), Morocco (+3.3%), and Türkiye (+11.6%) where Renault strengthened its position as the country’s leading automotive brand despite a declining market.

In the third quarter of 2026, Renault demonstrated resilience in a challenging global market, selling 349,901 vehicles worldwide despite intense competition in Latin America, market downturns in Türkiye, Argentina and South Korea, and ongoing geopolitical tensions. In Europe, Renault maintained positive momentum, with passenger car sales rising by 6.3%, reflecting the brand’s sustainable performance in the region.

Looking ahead, Renault will pursue its product offensive and electrification strategy, with Duster E-Tech hybrid, Boreal and Niagara driving its international offensive, alongside Twingo E-Tech electric and new Megane E-Tech electric in Europe. In LCVs, the upcoming Trafic Van E-Tech electric will broaden the brand’s offering into the medium-van segment, opening up further growth opportunities.

Dacia brand – Gearing up for its upcoming product offensive

In the first nine months of 2026, Dacia sold 471,007 vehicles worldwide, down 9.7% year-on-year. Dacia remained disciplined in its focus on the retail market, with positive results: 74.9% mix in Q3, firmly established on the European retail podium (3^rd), while Sandero remained the best-selling passenger car in the European retail market. This demonstrates the continued strength of Dacia’s value-for-money proposition, as reflected in residual values that are 13 points above the market average. But this strength also made Dacia a target for increasing competition, notably from Chinese brands, and particularly in the C-segment, where Bigster competes.

The brand also benefits from three proven technologies offering highly competitive running costs: full hybrid powertrains with Dacia becoming 4^th hybrid⁷ brand in Europe (24.6% of Dacia sales), hybrid 4×4 weighing 15% of Duster and Bigster sales, and with LPG accounting for 39.2% of sales.

In the third quarter of 2026, Dacia sold 144,175 vehicles worldwide, down 12.8% year-on-year against a high comparison base in Q3 2025. This result came amid the rapid electrification of the European market, where sales of electrified vehicles rose sharply to reach a mix of 53.3% (up 10.3 points), while the brand was undergoing a transition in its product cycle.

Looking ahead to the fourth quarter, Dacia will benefit from the first European deliveries of Sandero HEV, New Spring and Striker, as well as a solid order portfolio, driven by a good order momentum in September. Thanks to these new models, Dacia is now a fully electrified brand. On the EV market, the European production of the New Spring will give access to all incentives therefore a greater commercial potential. Among full hybrid vehicles, Striker will offer the best fuel consumption and CO₂ emissions performance of the C-segment. This will contribute to the brand’s momentum in the final quarter.

Alpine Brand – Growing across all its markets

In the first nine months of 2026, Alpine continued to scale rapidly, reaching 12,269 worldwide registrations, up 65.6% year-on-year and already above its full-year 2025 volume. Growth is increasingly broad-based across Europe, with particularly strong year-to-date performances in France (+44.7%), the UK (+193.5%), Germany (+62.6%) and Spain (+91.1%). As a result, the brand’s sales outside France now account for 54.7% of total sales, up 6.5 points year-on-year. At the heart of this momentum is the Alpine A290, with 8,618 registrations worldwide (+54.2%) and more than 10,000 European orders, an all-time order record at the end of September. The Alpine A390, now available in GTS version, is progressively adding a second pillar to Alpine’s electric expansion, with nearly 1,800 registrations since the start of the year.

In the third quarter of 2026, September provided another milestone for the brand, delivering its best-ever month for EV orders and its second-best overall order month, confirming the strength of Alpine’s ongoing transformation and supporting continued revenue growth.

2026 Third quarter revenue

Group revenue amounted to €11,596 million, up 1.5% compared to 2025 Q3. At constant exchange rates, Group revenue was up 1.4%.

Automotive revenue reached €9,835 million, stable compared to 2025 Q3. It included 0.2 points of positive exchange rates effect (+€14 million) mainly related to the appreciation of the Brazilian real and of the Columbian peso, partly offset by the depreciation of the Turkish lira. At constant exchange rates, it decreased by -0.2%. This evolution was mainly explained by the following:

A negative volume effect of -5.9 points, mostly due to the -6.0% decrease in registrations. As of September 30, 2026, total inventories of new vehicles represented 532,000 vehicles, of which 312,000 at independent dealers and 220,000 at Group level. Renault Group expects total inventories to trend towards the lower end of the 525,000 to 550,000 units range at the end of 2026.
A strong positive sales to partners effect of +4.9 points, driven primarily by:
- The performance of Geely partnership in Brazil, with the ramp-up in the distribution of its vehicles, as well as the start of their production since September,
- The integration of RNAIPL⁸ since August 1^st, 2025 in the consolidation perimeter, which contributed +€165 million in 2026 Q3 compared to 2025 Q3 (+1.7 points).
A solid product mix effect of +2.3 points, mainly attributed to the transition phase between Clio V and Clio VI (Clio VI having a better average selling price than Clio V, while still below Group’s average), LCV (Master and Trafic) and the success of electric vehicles.
A positive price effect of +1.1 points, as price increases to compensate for FX on international markets were partly offset by price pressure in Europe. The high-trim EV battery mix coupled to HEV powertrain mix supported a positive enrichment effect in the third quarter.
A positive geographic mix effect of +0.5 points, mainly explained by the sales increase in France and Germany alongside a lower exposure to sales in Argentina during 2026 Q3 compared to 2025 Q3.
A negative “Other” effect of -3.1 points, mainly reflecting the impact of Retail Renault Group (RRG) inventory normalization following a particularly low inventory level at the end of June 2026. RRG inventory level at the end of September 2026 was back to previous’ year level.

Mobilize Financial Services (formerly RCI Bank and Services) reported Q3 2026 revenue of €1,761 million, up 11.0% year-on-year, reflecting both higher interest rates and continued growth in average performing assets, which increased to €62.5 billion (+5.0% vs. Q3 2025).

2026 FY financial outlook

In a challenging environment, Renault Group confirms its 2026 financial outlook:

Group operating margin around 5.5% of Group revenue. As stated in 2026 H1 results, the Group expects a slight margin improvement in H2 vs. H1, with the usual seasonal uplift expected to be less pronounced than in previous years due to higher raw material costs and inflation.
Automotive free cash flow around €1.0 billion.

Renault Group’s consolidated revenue

(in million euros)	2025	2026	*Δ 2026/2025*	*Δ at constant FX*
3^r^d *quarter*
Automotive	9,839	9,835	+0.0%	-0.2%
Sales Financing (Mobilize Financial Services)	1,587	1,761	+11.0%	+11.3%
Total	11,426	11,596	*+1.5%*	*+1.4%*
*9 months cumulated*
Automotive	34,373	36,641	+6.6%	+7.2%
Sales Financing (Mobilize Financial Services)	4,693	5,207	+11.0%	+11.1%
Total	39,066	41,848	*+7.1%*	*+7.6%*

Renault Group’s top 15 markets at the end of September 2026

Year-to-date September 2026		Volumes ¹	PC + LCV
Year-to-date September 2026		(in units)	market share in%
1	FRANCE	390,505	26.3
2	ITALY	140,473	10.0
3	SPAIN	118,131	11.1
4	GERMANY	116,848	4.8
5	TÜRKIYE	113,164	14.1
6	UNITED KINGDOM	98,965	4.9
7	BRAZIL	96,436	4.5
8	MOROCCO	68,022	36.1
9	BELGIUM+LUXEMBOURG	47,072	11.3
10	POLAND	42,903	8.1
11	INDIA	35,379	0.8
12	ARGENTINA	29,592	7.2
13	SOUTH KOREA	27,204	2.2
14	ROMANIA	27,175	24.9
15	MEXICO	27,074	2.3

¹ Excluding Twizy.

Total Renault Group PC + LCV¹ sales by brand

(in units)	Third quarter			9 months cumulated
(in units)	2025	2026	Δ %	2025	2026	Δ %
Renault	360,282	349,901	-2.9%	1,166,376	1,178,946	+1.1%
PC	281,197	273,742	-2.7%	921,413	930,011	+0.9%
LCV	79,085	76,159	-3.7%	244,963	248,935	+1.6%
Dacia	165,355	144,175	-12.8%	521,340	471,007	-9.7%
PC	164,183	143,102	-12.8%	517,704	467,671	-9.7%
LCV	1,172	1,073	-8.4%	3,636	3,336	-8.3%
Alpine	2,351	3,723	+58.4%	7,407	12,269	+65.6%
Renault Group²	529,298	497,799	-6.0%	1,698,948	1,662,222	-2.2%
PC	449,041	420,563	-6.3%	1,450,349	1,409,941	-2.8%
LCV	80,257	77,236	-3.8%	248,599	252,281	+1.5%

¹ PC +LCV: passenger cars + light commercial vehicles.
² Including RKM in 2025.

2026 Q3 revenue conference

Link to follow the conference at 8am CET on October 29, and available in replay:
2026 Q3 revenue conference

RENAULT GROUP
INVESTOR RELATIONS

Florent Chaix
+33 6 07 88 83 05
florent.chaix@renault.com

RENAULT GROUP
PRESS RELATIONS

Rie Yamane
+33 6 03 16 35 20
rie.yamane@renault.com

François Rouget
+33 6 23 68 07 88
francois.rouget@renault.com

About Renault Group

Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its three automotive brands – Renault, Dacia, Alpine – and its financial captive – Mobilize Financial Services – to offer sustainable and innovative mobility solutions to its customers. Established in more than 100 countries, Renault Group sold 2.337 million vehicles in 2025. It employs more than 100,000 people who embody its Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, Renault Group’s ambition is to achieve Net Zero carbon in Europe by 2040 and worldwide by 2050.

More information: https://www.renaultgroup.com/en/

¹ In order to analyze the variation in consolidated revenue at constant exchange rates, Renault Group recalculates the revenue for the current period by applying average exchange rates of the previous period.
² Europe ACEA scope.
³ PC in Europe.
⁴ Includes hybrid (HEV) and plug-in hybrid (PHEV) passenger cars, excludes mild-hybrid (MHEV).
⁵ Northern Europe = Denmark, Finland, Germany, Iceland, Ireland, Norway, Sweden and The United Kingdom.
⁶ Segment A electric, in Q3, Europe PC.
⁷ HEV only (excluding PHEV).
⁸ Renault Nissan Automotive India Private Ltd.

Attachment

20261029_Renault Group_Press Release_2026 Q3 revenue

Posted in UncategorizedTagged GlobeNewswire

Renault Group delivers resilient Q3 revenue and confirms its 2026 financial guidance

Posted on October 29, 2026 by Ravi Shankar

Press Release
October 29, 2026

Renault Group delivers resilient Q3 revenue and confirms its 2026 financial guidance

Strong operating fundamentals and disciplined execution demonstrate futuREady in action
2026 9-month revenue:
- Group revenue at €41.8 billion, +7.1% vs 2025 9M, +7.6% at constant exchange rates¹
- Auto revenue at €36.6 billion, +6.6% vs 2025 9M, +7.2% at constant exchange rates¹
- Mobilize Financial Services (MFS) revenue at €5.2 billion, +11.0% vs 2025 9M, +11.1% at constant exchange rates¹
2026 Q3 revenue:
- Group revenue at €11.6 billion, +1.5% vs 2025 Q3, +1.4% at constant exchange rates¹
- Auto revenue at €9.8 billion, +0.0% vs 2025 Q3, -0.2% at constant exchange rates¹
- MFS revenue at €1.8 billion, +11.0% vs 2025 Q3, +11.3% at constant exchange rates¹
Over the first nine months of 2026, Renault Group sold 1.662 million vehicles, slightly down 2.2% year-on-year, demonstrating resilience in a highly competitive environment. Renault brand sales rose 1.1%, supported by renewed and increasingly electrified line-up, lifting the brand to #2 in Europe². Dacia sales declined by 9.7% due to a transition in its product and powertrain cycle in the context of a strong acceleration of customer demand for EVs. Alpine grew by 65.6%, driven by the A290.
In 2026 Q3, Renault Group sales declined by 6.0%, reflecting contrasting brand and regional dynamics. Renault brand sales declined by 2.9% with a 4.6% growth in Europe. During this quarter, Dacia sales were down 12.8%, further penalized by a high comparison base in 2025 Q3. In the meantime, Alpine maintained a strong growth momentum, with sales up 58.4%.
Renault Group rapidly adapted its commercial and industrial execution to the acceleration in European EV demand: EV sales³ rose by 84.7% in 2026 Q3 year-on-year, increasing the Group’s EV mix by 12.2 points to 25.8%. Including HEV and PHEV⁴, electrified sales represented 54.9% of Group’s passenger car (PC) sales in 2026 Q3.
Renault Group maintained strict value discipline this quarter, with retail sales up 5.0% in Europe and retail mix rising by 4.6 points to 64.8%, while reducing exposure to less value-accretive channels: short-term rentals and demo sales decreased by 18.0%. Residual values remained 5 to 13 points above market average.
Total inventories remained at a healthy level (532,000 vehicles at September 30, 2026), while the European orderbook represented c.2 months of forward sales.
Renault Group continues its product offensive in 2026 H2 with a 100% electrified offer: New Megane E-Tech electric, Trafic Van E-Tech electric and Duster E-Tech hybrid for Renault, Sandero Hybrid, New Spring, and Striker for Dacia.
In a challenging environment, Renault Group confirms its 2026 financial outlook:
- Group operating margin around 5.5% of Group revenue. As stated in 2026 H1 financial results, the Group expects a slight margin improvement in H2 vs. H1, with the usual seasonal uplift expected to be less pronounced than in previous years due to higher raw material costs and inflation.
- Automotive free cash flow around €1.0 billion.

Boulogne-Billancourt, October 29, 2026

Commercial results highlights

Renault brand – Sales up, driven by electrification, LCVs and growth in key markets

Dacia brand – Gearing up for its upcoming product offensive

Alpine Brand – Growing across all its markets

2026 Third quarter revenue

Group revenue amounted to €11,596 million, up 1.5% compared to 2025 Q3. At constant exchange rates, Group revenue was up 1.4%.

A negative volume effect of -5.9 points, mostly due to the -6.0% decrease in registrations. As of September 30, 2026, total inventories of new vehicles represented 532,000 vehicles, of which 312,000 at independent dealers and 220,000 at Group level. Renault Group expects total inventories to trend towards the lower end of the 525,000 to 550,000 units range at the end of 2026.
A strong positive sales to partners effect of +4.9 points, driven primarily by:
- The performance of Geely partnership in Brazil, with the ramp-up in the distribution of its vehicles, as well as the start of their production since September,
- The integration of RNAIPL⁸ since August 1^st, 2025 in the consolidation perimeter, which contributed +€165 million in 2026 Q3 compared to 2025 Q3 (+1.7 points).
A solid product mix effect of +2.3 points, mainly attributed to the transition phase between Clio V and Clio VI (Clio VI having a better average selling price than Clio V, while still below Group’s average), LCV (Master and Trafic) and the success of electric vehicles.
A positive price effect of +1.1 points, as price increases to compensate for FX on international markets were partly offset by price pressure in Europe. The high-trim EV battery mix coupled to HEV powertrain mix supported a positive enrichment effect in the third quarter.
A positive geographic mix effect of +0.5 points, mainly explained by the sales increase in France and Germany alongside a lower exposure to sales in Argentina during 2026 Q3 compared to 2025 Q3.
A negative “Other” effect of -3.1 points, mainly reflecting the impact of Retail Renault Group (RRG) inventory normalization following a particularly low inventory level at the end of June 2026. RRG inventory level at the end of September 2026 was back to previous’ year level.

2026 FY financial outlook

In a challenging environment, Renault Group confirms its 2026 financial outlook:

Group operating margin around 5.5% of Group revenue. As stated in 2026 H1 results, the Group expects a slight margin improvement in H2 vs. H1, with the usual seasonal uplift expected to be less pronounced than in previous years due to higher raw material costs and inflation.
Automotive free cash flow around €1.0 billion.

Renault Group’s consolidated revenue

(in million euros)	2025	2026	*Δ 2026/2025*	*Δ at constant FX*
3^r^d *quarter*
Automotive	9,839	9,835	+0.0%	-0.2%
Sales Financing (Mobilize Financial Services)	1,587	1,761	+11.0%	+11.3%
Total	11,426	11,596	*+1.5%*	*+1.4%*
*9 months cumulated*
Automotive	34,373	36,641	+6.6%	+7.2%
Sales Financing (Mobilize Financial Services)	4,693	5,207	+11.0%	+11.1%
Total	39,066	41,848	*+7.1%*	*+7.6%*

Renault Group’s top 15 markets at the end of September 2026

Year-to-date September 2026		Volumes ¹	PC + LCV
Year-to-date September 2026		(in units)	market share in%
1	FRANCE	390,505	26.3
2	ITALY	140,473	10.0
3	SPAIN	118,131	11.1
4	GERMANY	116,848	4.8
5	TÜRKIYE	113,164	14.1
6	UNITED KINGDOM	98,965	4.9
7	BRAZIL	96,436	4.5
8	MOROCCO	68,022	36.1
9	BELGIUM+LUXEMBOURG	47,072	11.3
10	POLAND	42,903	8.1
11	INDIA	35,379	0.8
12	ARGENTINA	29,592	7.2
13	SOUTH KOREA	27,204	2.2
14	ROMANIA	27,175	24.9
15	MEXICO	27,074	2.3

¹ Excluding Twizy.

Total Renault Group PC + LCV¹ sales by brand

(in units)	Third quarter			9 months cumulated
(in units)	2025	2026	Δ %	2025	2026	Δ %
Renault	360,282	349,901	-2.9%	1,166,376	1,178,946	+1.1%
PC	281,197	273,742	-2.7%	921,413	930,011	+0.9%
LCV	79,085	76,159	-3.7%	244,963	248,935	+1.6%
Dacia	165,355	144,175	-12.8%	521,340	471,007	-9.7%
PC	164,183	143,102	-12.8%	517,704	467,671	-9.7%
LCV	1,172	1,073	-8.4%	3,636	3,336	-8.3%
Alpine	2,351	3,723	+58.4%	7,407	12,269	+65.6%
Renault Group²	529,298	497,799	-6.0%	1,698,948	1,662,222	-2.2%
PC	449,041	420,563	-6.3%	1,450,349	1,409,941	-2.8%
LCV	80,257	77,236	-3.8%	248,599	252,281	+1.5%

¹ PC +LCV: passenger cars + light commercial vehicles.
² Including RKM in 2025.

2026 Q3 revenue conference

Link to follow the conference at 8am CET on October 29, and available in replay:
2026 Q3 revenue conference

RENAULT GROUP
INVESTOR RELATIONS

Florent Chaix
+33 6 07 88 83 05
florent.chaix@renault.com

RENAULT GROUP
PRESS RELATIONS

Rie Yamane
+33 6 03 16 35 20
rie.yamane@renault.com

François Rouget
+33 6 23 68 07 88
francois.rouget@renault.com

About Renault Group

More information: https://www.renaultgroup.com/en/

Attachment

20261029_Renault Group_Press Release_2026 Q3 revenue

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DNO Races Ahead on Stronger Production, Higher Prices

Posted on October 29, 2026 by Ravi Shankar

Oslo, 29 October 2026 – DNO ASA, the Norwegian oil and gas operator, today announced strong financial and operational results for the third quarter of 2026, driven by the resumption of Kurdistan region of Iraq production and higher prices across the portfolio.

Net production increased 61 percent from the previous quarter to 142,800 barrels of oil equivalent per day (boepd), of which the North Sea contributed 85,400 boepd, Kurdistan 54,900 boepd and West Africa 2,500 boepd.

Revenues of USD one billion, an all-time high, were up a third quarter-on-quarter. Operating profit jumped 46 percent to USD 641 million, also a record figure for the 55-year-old company, while net profit climbed 21 percent to USD 101 million.

Realized North Sea prices rose six percent to an average of USD 106.7 per barrel of oil equivalent during the quarter. In Kurdistan, DNO received USD 38.5 per barrel, the highest price realized since local sales commenced in 2023, with all payments made to the Company’s international bank accounts in advance of deliveries. Prices for oil sales in Kurdistan were raised this month to USD 45 per barrel, up nearly 50 percent from sales at the start of 2026.

With 2026 maintenance largely completed, DNO expects North Sea production to average around 86,000 boepd for the full year. In northern Iraq, DNO resumed production at midyear from its operated Tawke license (75 percent) after a four-month precautionary shutdown due to escalation of drone and missile attacks in the Middle East. Gross operated production stood at 73,200 boepd in the third quarter and is expected to average 50,000 boepd for the full year.

DNO maintained a high level of business development activity during the quarter, including divesting its Côte d’Ivoire business, realizing an annualized return of 24 percent on the Company’s investment since entering the country in October 2022.

“DNO remains very much focused on growth but only if it meets our profitability targets,” said Executive Chairman Bijan Mossavar-Rahmani. “In our business, the price of oil and gas is the single most important driver of profitability, but not the only one,” he said. “Obviously, price is outside our control but not so exploration success, at which we excel, and not so capital discipline, which we exercise with utmost rigor.”

Overall, five new field developments have been delivered offshore Norway since 2025, another six are under execution and six additional projects are approaching investment decision, all planned onstream before 2030. DNO continues to target North Sea production of 100,000 boepd by 2030.

In Kurdistan, drilling activity also stepped up during the third quarter with a second third-party rig deployed to take part in the eight-well drilling program initiated shortly before yearend 2025. By far the most active operator in Kurdistan, DNO plans to increase drilling further in 2027 and is considering contracting a third large rig, and also drilling beyond the existing production footprint on the license.

The Board of Directors has approved a quarterly dividend of NOK 0.375 per share, payable in November 2026, maintaining the same level as in the previous five quarters.

A videoconference call with executive management will follow today at 10:00 (CET). Please visit www.dno.no to access the call.

Key figures

	Q3 2026	Q2 2026	Full-Year 2025
Net production (boepd)	142,768	88,430	110,667
North Sea	85,364	84,912	54,811
Kurdistan	54,914	273	52,569
West Africa	2,488	3,246	3,287
Gross operated production (boepd)	77,621	5,811	79,217
Revenues (USD million)	1,023.0	760.5	1,474.0
Operating profit/loss (USD million)	641.1	439.0	512.8
Net profit/loss (USD million)	101.1	83.4	-25.2
Free cash flow (USD million)	326.5	289.5	-36.6
Net cash/debt (USD million)	-231.9	-552.9	-885.9

–

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

–

DNO ASA is a Norwegian oil and gas operator active in the North Sea and the Middle East. Founded in 1971, DNO is Norway’s oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in Norway, the Kurdistan region of Iraq, the United Kingdom and Yemen. More information is available at www.dno.no.

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

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Posted in UncategorizedTagged GlobeNewswire

DNO Races Ahead on Stronger Production, Higher Prices

Posted on October 29, 2026 by Ravi Shankar

The Board of Directors has approved a quarterly dividend of NOK 0.375 per share, payable in November 2026, maintaining the same level as in the previous five quarters.

A videoconference call with executive management will follow today at 10:00 (CET). Please visit www.dno.no to access the call.

Key figures

	Q3 2026	Q2 2026	Full-Year 2025
Net production (boepd)	142,768	88,430	110,667
North Sea	85,364	84,912	54,811
Kurdistan	54,914	273	52,569
West Africa	2,488	3,246	3,287
Gross operated production (boepd)	77,621	5,811	79,217
Revenues (USD million)	1,023.0	760.5	1,474.0
Operating profit/loss (USD million)	641.1	439.0	512.8
Net profit/loss (USD million)	101.1	83.4	-25.2
Free cash flow (USD million)	326.5	289.5	-36.6
Net cash/debt (USD million)	-231.9	-552.9	-885.9

–

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

–

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

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Amundi: Third quarter and Nine-months 2026 results

Posted on October 29, 2026 by Ravi Shankar

Amundi Third Quarter & First Nine Months 2026 Results

Net income¹ up +20% Q3/Q3,
+€102bn in net inflows² over nine months

Strong net inflows²		Net inflows² of +€102bn over nine months, +€46bn in Q3 excluding transfers related to a large institutional mandate in India² Strong contribution from medium-long-term assets (MLTs³) and Retail Assets under management⁴ of €2.6tn at the end of September, up +11% year-on-year, stable in Q3

Strong earnings growth		Net income¹: €409m in Q3, up +20% Q3/Q3, +22% 9M/9M⁵ Revenue¹ growth of +11% Q3/Q3, driven by management fees Costs: very positive jaws effect of 7 points Q3/Q3, cost-income ratio¹ to 50.0% in Q3 Accounting net income: €675m in Q3, including c.€300m capital gain related to the IPO of SBI FM

Good progress across strategic priorities		Digital players: +€4bn net inflows in Q3, 2 new partnerships plus partnership extensions Retirement: +€12bn net inflows in Q3; new German distribution mandate and two institutional mandates in Germany and Asia Distribution partnership with Banco Sabadell extended by five years, until 2035 Geographies: strong net inflows in Q3 in Northern Europe (+€18bn), Asia² (+€8bn) and the Middle East (+€2bn) Active management: +€14bn net inflows, driven by fixed income and multi-asset management ETFs: +€17bn net inflows, assets under management >€100bn in Germany Private assets: completion of 9.9% ICG stakebuilding; launch of first ICG co-developed evergreen fund Surplus capital of €1bn+ following completion of ICG stake building and €500m share buyback

Paris, 29 October 2026

Amundi’s Board of Directors met on 28 October 2026 under the chairmanship of Olivier Gavalda, and reviewed the financial statements for the third quarter and the first nine months of 2026.

Valérie Baudson, Chief Executive Officer, said: « Amundi delivered strong net inflows², resulting in adjusted net income¹ growth of more than +20% in both Q3 and the nine-month period. This performance demonstrates the relevance of our strategic priorities and our continued ability to meet clients’ diverse needs. Our strong position in retirement, growing partnerships with digital distributors and broad capabilities across active management, index solutions and private assets are translating into sustained commercial momentum. Together with our diversified business model and strong financial position, these achievements give us confidence in our ability to capture further growth across the savings industry.”

Strong business momentum and innovation across the 2028 strategic plan ambitions

In the third quarter, the Amundi Group recorded sustained activity, fuelled by innovations and commercial successes in the strategic priorities of its Invest for the Future 2028 plan:

Clients:

Net inflows from digital players totalled +€4bn. Amundi signed two new partnerships in the third quarter, and extended existing relationships.
On retirement, Amundi collected +€12bn. In Germany, a new agreement for the distribution of “pillar 3” retirement solutions (AVD)⁶ was signed with a distributor. Two new institutional mandates were won, with a German regional authority and in Asia.
The distribution partnership with Banco Sabadell, which was due to be renewed in 2030, has been extended by 5 years, until 2035. Discretionary portfolio management for Banco Sabadell, Cartera Sabadell, launched in 2024, has exceeded €3bn in assets under management, out of a total of nearly €30bn managed for all of the bank’s clients.

Geographies:

Northern Europe recorded net inflows of +€18bn, positive in all countries in the region, particularly in the United Kingdom, in Germany with digital players, in Ireland with an institutional client and in the Netherlands in third-party distribution. Net inflows are therefore diversified by countries and types of clients.
Asia collected +€8bn², of which +€5bn from direct distribution (excluding JVs). China (+€2bn) is the leading contributor, thanks to the two JVs and direct distribution. In Japan, the thematic fund on energy transition materials, launched in partnership with a broker, is the leading thematic fund by net inflows in the year-to-date, and the fourth active fund by net inflows across all categories..

Solutions:

In active management, net inflows accelerated to +€14bn, driven primarily by fixed income and multi-asset. This reflects the high performance of Amundi’s flagship fixed-income funds, such as Global Aggregate and Emerging Markets Bonds. Victory Capital’s US and global strategies, distributed in Europe and Asia, once again raised nearly +€3bn in Q3, in equities and multi-asset.
The ETF platform reached €432bn in assets under management at the end of September, of which €100bn+ in Germany, a country where net inflows are very dynamic thanks to digital players. The Group’s net inflows in ETFs accelerated to +€17bn in Q3. Amundi is the leading collector for European-equity ETFs, notably with the Core Stoxx Europe 600 ETF, which reached €21bn in assets. Eight new index strategies were launched, including thematic technology ETFs. Three new active ETFs were also launched, combining quantitative and fundamental approaches and offering exposures to global, European and eurozone equities markets.
In private assets, the first evergreen fund resulting from the partnership with ICG, Amundi ICG Global Private Equity Secondaries, was launched. Amundi Alpha’s multi-management strategies raised +€1.3bn, thanks in particular to the win of two Infrastructure mandates with institutional clients in France and Germany.
Finally, in responsible investment, a fund dedicated to the restoration of forest ecosystems, Arbora Nova, has been launched with the ambition of mobilising €200m.

Technology:

Amundi Technology continued to deliver strong revenue growth, with revenues up +17% Q3/Q3.

Efficiency:

The Amundi Investment Institute has developed a model combining its cross-asset analysis framework and generative AI to build scenarios and asset allocation proposals, over multiple time horizons. The model saves half the analysis time compared to previous tools and supports better-informed still investment decisions.

ICG partnership and dynamic capital management

ICG: the launch of the first fund of the partnership followed the completion of the acquisition of a 9.9% stake in this company specialising in private assets. The final acquisition cost was €620m, below the amount estimated when the partnership was announced.
The €500m share buyback programme was completed in September. 5.9 million shares, representing 3% of the capital, were purchased on the market and then cancelled by decision of the Board of Directors.

After the completion of these two transactions and including the nine-month net income with the capital gain on SBI FM, the capital surplus at the end of September was €1bn+.

Inflows at the highest level: +€102bn² on nine months, of which +€46bn² in Q3

Q3 net inflows were affected by -€39.1bn of transfers relating to the partial reallocation of a large institutional mandate in India managed by our JV SBI FM. Given the negligible margin associated with these assets, the transfers are expected to have a negligible impact on SBI FM’s revenues and earnings, or on Amundi’s earnings. Accordingly, unless otherwise stated, commentary on net inflows for Q3 and the first nine months of 2026 excludes these transfers.

Net inflows² for nine months achieved +€102.0bn, the highest first nine months in Amundi’s history. It reflects strong business momentum across all client segments, MLT asset³ classes and geographies.

In the third quarter, net inflows² reached +€45.6bn.

MLT assets³ accounted for +€42.5bn of Q3 net inflows. MLT³ net inflows were driven by both ETFs & index solutions (+€27bn, of which +€17bn for ETFs) and active management (+€14bn), especially fixed income and multi-asset.

Quarterly net inflows of +€45.6bn were broadly diversified across client segments:

+€21bn for Retail, mainly in MLT assets³ (+€18bn), thanks to very dynamic net inflows with third-party distributors (17% annualised, almost exclusively in MLT assets³), and despite the exits from the UniCredit networks, (-€4bn in Q3); assets under management for UniCredit’s networks amounted to €71bn, of which €50bn for the network in Italy;
+€20bn for Institutional, of which +€25bn in MLT assets³, thanks in particular to several new mandates in Europe and Asia, on a wide range of expertise (active fixed income, index solutions, ETFs, private assets, etc.); the mandates with CA and SG insurers also benefited from the good momentum of life contracts in euros;
and +€5bn for associates excluding transfers related to the institutional mandate in India². JV net inflows reached +€3bn excluding the Indian mandate, of which +€5bn in MLT assets³, partially offset by outflows from money market funds at the end of the quarter in Korea, China and India. Victory Capital’s US distribution⁷ collected +€2bn.

Assets under management² as at 30 September 2026 were up +11% year-on-year, and almost stable quarter-on-quarter, to reach €2,579bn. Over the 12 months to 30 September 2026, net inflows contributed +€123bn excluding transfers related to the mandate in India, a record for this period. The market & forex effect reached +€172bn, despite the fall in the rupee over the period. The first consolidation of ICG in the second quarter completes the 12-month increase with a scope effect of +€6bn.

Third Quarter 2026 Results – net income¹ +20% year-on-year

Adjusted net revenues¹ amounted to €908m. They are up by +11.3% compared to the third quarter of 2025, driven by business-related revenues:

Net management fees increased by +13.1% Q3/Q3, driven by continued net inflows and asset growth;
Performance fees, at €20m, are seasonally more limited in Q3;
Technology revenues amounted to €34m, up +16.5%;
Net financial income¹ amounted to €9m, up from the same quarter last year (€6m) thanks to the rate hikes in the euro area year-on-year, but down from the second quarter, which benefited from the market rebound in the quarter and seasonal dividends.

Adjusted operating expenses¹, at €454m, increased by +4.0% Q3/Q3, with a particularly positive jaws effect of nearly 7 percentage points compared with revenue growth. Costs have been mostly flat in the past four quarters. Their year-on-year growth can be explained, as in previous quarters, by the business momentum and the investments in strategic growth areas. It should be noted that, as last year, they include costs related to the capital increase reserved for employees, i.e. €17m, the same amount as in the third quarter of last year.

Thanks to the jaws effect, the cost-income ratio improved year-on-year to 50.0% on an adjusted basis¹.

Contributions from associates accounted for using the equity method¹, at €83m, were up by +23.4% Q3/Q3. The integration of ICG⁷ contributes to this with €14m over the quarter. The contribution of Asian JVs (€32m, or -6.0% Q3/Q3) reflects the decline in the Indian rupee (-7%) and especially the sale of 10% of the Group’s stake in the SBI Funds Management JV; excluding these two effects, the contribution of JVs would have been up +7% year-on-year. The contribution of Victory¹^,⁷ has increased by +9.8% thanks to a good level of activity and synergies.

Pre-tax income¹ was €535m, up +20.1% compared to the third quarter of 2025.

Adjusted tax charge¹ for the third quarter 2026 includes the quarterly impact of the exceptional tax contribution in France (-€10m), equivalent to that of the third quarter of 2025 (-€9m).

Adjusted net income¹ rose to €409m, up by +20.2% Q3/Q3.

Adjusted¹ earnings per share in the third quarter of 2026 was €2.04, again above two euros over a quarter. The calculation takes into account the cancellation of the shares repurchased under the €500m share buyback programme that began last February and was finalised on 17 September, i.e. 5.9 million shares (3% of the share capital).

Accounting data:

Accounting net income group share amounted to €675m, a strong increase compared to the same quarter of 2025 as it includes the capital gain on the sale of 10% of the Group’s stake in its Indian JV, SBI FM (c.€300m).

Accounting earnings per share reached €3.27. This does not account yet for the cancellation of the shares from the buy-back programme.

Results for the first nine months of 2026– Earnings per share¹ +23% year-on-year

Adjusted net revenues¹ amounted to €2,743m, the all-time high over nine months⁵. They are up by +13.0% compared to the first nine months of 2025 pro forma⁵, driven by business-related revenues. Net Management Fees increased by +12.0% 9M/9M pro forma⁵, and performance fees, at €142m (vs. €91m in the nine months of 2025), benefited from the high level reached in the first quarter thanks to the excellent performance of a strategy.

Adjusted operating expenses¹, at €1,365m, increased by +7.6% 9M/9M pro forma⁵, showing a positive jaws effect of over 6 percentage points compared to the increase⁵ in revenues¹.

The cost-income ratio improved by 2.5 percentage points to 49.7% on an adjusted data basis¹ and pro forma⁵.

Contributions from associates accounted for using the equity method¹, at €237m, were up by +30.8% 9M/9M⁵. They include ICG’s contribution to the second (€12m) and third (€14m) quarter. The remainder of the increase (+16%) was thanks to strong growth of Victory Capital¹: +32.7% 9M/9M⁵, while the increase in the contribution of JVs (+2.8%) was materially affected by the decline of the Indian rupee (-11% on average 9M/9M) and the sale of 10% of the stake in the Indian JV. Excluding these two effects, the contribution of JVs would have been up +16%.

Pre-tax income¹ achieved €1,609m, up +20.6% compared to the first nine months of 2025 pro forma⁵.

Adjusted tax charge¹ included the exceptional tax contribution in France (-€66m), equivalent to that of the same period in 2025 (-€64m).

Adjusted net income¹ rose to €1,189m, up +21.6% 9M/9M pro forma⁵.

Adjusted earnings per share ¹ in the first nine months of 2026 achieved €5.82, up +22.6% 9M/9M pro forma⁵. The calculation takes into account the cancellation for the entire third quarter of shares repurchased under the €500m share buyback programme.

Accounting data:

Accounting net income group share amounted to €1,428m. It benefited in 2026 from the capital gain on the partial sale of SBI FM, and in 2025 from the capital gain related to the partnership with Victory Capital (€402m).

Accounting earnings per share reached €6.92. This does not account yet for the cancellation of the shares from the buy-back programme

APPENDICES

Adjusted income statement¹ of the third quarter of 2026

(€m)	Q3 2026	Q3 2025	% ch. Q3/Q3	Q2 2026	% ch. Q3/Q2

Net revenue – Adjusted	908	815	+11.3%	933	-2.7%
Net management fees	845	747	+13.1%	837	+1.0%
Performance fees	20	33	-41.0%	36	-45.8%
Technology	34	29	+16.5%	32	+4.8%
Net financial income & other net income – Adjusted	9	6	+50.9%	27	-68.1%
Operating expenses – Adjusted	(454)	(436)	+4.0%	(456)	-0.5%
Cost income ratio – Adjusted	50.0%	53.5%	-3.5pp	48.9%	+1.1pp
Gross operating income – Adjusted	454	379	+19.7%	477	-4.9%
Cost of risk & others – Adjusted	(2)	(1)	+87.4%	(1)	+79.8%
Associates – JVs	32	34	-6.0%	42	-24.3%
Associates – Victory Capital – Adjusted	36	33	+9.8%	35	+5.4%
Associates – ICG – Adjusted	14	–	NM	12	+22.3%
Pre-tax income – Adjusted	535	445	+20.1%	564	-5.3%
Corporate tax – Adjusted	(125)	(106)	+18.1%	(132)	-5.6%
Non-controlling interests	(1)	1	NM	(1)	+47.9%
Net income group share – Adjusted	409	340	+20.2%	431	-5.3%
Depreciation of intangible assets (net of tax)	(13)	(14)	-6.6%	(14)	-7.1%
ICG stake – mark-to-market revaluation	(2)	–	NM	–	NM
Integration costs and PPA depreciation (net of tax)	(1)	(61)	-98.0%	(1)	-0.0%
Associates adjustments (after tax, group share) – Victory	(11)	(15)	-31.9%	(7)	+54.2%
Associates adjustments (after tax, group share) – ICG	(2)	–	NM	–	NM
Capital gains (SBI FM in 2026), net of tax	296	(0)	NM	–	NM
Net income group share	675	249	x2.7	409	+65.2%
Earnings per share (€)	3.27	1.21	x2.7	1.98	+65.2%
Earnings per share – Adjusted (€)	2.04	1.65	+23.2%	2.09	-2.5%

Adjusted income statement¹ from the first 9 months of 2026

(€m)	9M 2026	9M 2025*	% ch. 9M/9M*

Net revenue – Adjusted	2,743	2,428	+13.0%
Net management fees	2,465	2,201	+12.0%
Performance fees	142	91	+57.0%
Technology	97	81	+20.6%
Net financial income & other net income – Adjusted	39	56	-30.4%
Operating expenses – Adjusted	(1,365)	(1,269)	+7.6%
Cost income ratio – Adjusted	49.7%	52.2%	-2.5pp
Gross operating income – Adjusted	1,378	1,160	+18.9%
Cost of risk & others – Adjusted	(6)	(7)	-11.5%
Associates – JVs	102	99	+2.8%
Associates –US⁸ operations – Adjusted	108	81	+32.7%
Associates – ICG – Adjusted	26	–	NM
Pre-tax income – Adjusted	1,609	1,334	+20.6%
Corporate tax – Adjusted	(417)	(359)	+16.2%
Non-controlling interests	(3)	3	NM
Net income group share – Adjusted	1,189	978	+21.6%
Depreciation of intangible assets (net of tax)	(42)	(43)	-1.8%
ICG stake – mark-to-market revaluation	(71)	–	NM
Integration costs and PPA depreciation (net of tax)	(4)	(65)	-94.4%
Associates adjustments (after tax, group share) – Victory	(24)	(26)	-8.9%
Associates adjustments (after tax, group share) – ICG	83	–	NM
Capital gains (Victory in 2025, SBI FM in 2026), net of tax	296	402	-26.4%
Net income group share	1,428	1,246	+14.6%
Earnings per share (€)	6.92	6.07	+14.1%
Earnings per share – Adjusted (€)	5.82	4.76	+22.2%

* For comparison purposes after the finalisation of the partnership with Victory Capital on 1 April 2025 (see press release), the quarterly series have been restated as if Amundi US had been 100% equity-accounted in the first quarter of 2025, therefore without contribution to revenues, expenses and taxes, but only to net income via an equity-accounted company line.

Details of the restatements can be found on the following pages.

Adjusted pro forma historical series¹ – Quarters & 9M 2025-2026

(€m)	9M 2026	9M 2025	– Contrib. Amundi US Q1 2025	9M 2025 pro forma	% ch. 9M/9M pro forma

Net management fees	2,465	2,289	88	2,201	+12.0%
Performance fees	142	91	0	91	+57.0%
Net asset management revenues	2,607	2,380	88	2,292	+13.7%
Technology	97	81	0	81	+20.6%
Net financial & other income	(88)	(2)	2	(4)	NM
Net financial & other income – Adjusted	39	57	2	56	-30.4%

Net revenue (a)	2,616	2,458	90	2,369	+10.4%
Net revenue – Adjusted (b)	2,743	2,518	90	2,428	+13.0%

Operating expenses (c)	(1,370)	(1,423)	(67)	(1,356)	+1.0%
Operating expenses – Adjusted (d)	(1,365)	(1,330)	(67)	(1,269)	+7.6%

Gross operating income (e)=(a)+(c)	1,246	1,035	22	1,013	+23.1%
Gross operating income – Adjusted (f)=(b)+(d)	1,378	1,187	28	1,160	+18.9%
Cost income ratio (%) -(c)/(a)	52.4%	57.9%	75.0%	57.2%	-4.9pp
Cost income ratio – Adjusted (%) -(d)/(b)	49.7%	52.8%	75.0%	52.2%	-2.5pp
Cost of risk & others (g)	343	395	(0)	395	-13.3%
Cost of risk & others – Adjusted (h)	(6)	(7)	(0)	(7)	-11.5%
Associates – JVs (i)	102	99		99	+2.8%
Associates – US operations (j)	84	38	(18)	55	+52.4%
Associates – US operations – Adjusted (k)	108	60	(22)	81	+32.7%
Associates – ICG (l)	109
Associates – ICG – Adjusted (m)	26
Pre-tax income (n)=(e)+(g)+(i)+(j)+(l)	1,884	1,567	5	1,563	+20.6%
Pre-tax income – Adjusted (o)=(f)+(h)+(i)+(k)+(m)	1,609	1,340	10	1,334	+20.6%
Corporate tax (p)	(453)	(324)	(5)	(319)	+42.1%
Corporate tax – Adjusted (q)	(417)	(365)	(6)	(359)	+16.2%
Non-controlling interests (r)	(3)	3	0	3	NM
Net income group share (s)=(n)+(p)+(r)	1,428	1,246	0	1,246	+14.6%
Net income group share – Adjusted (t)=(o)+(q)+(r)	1,189	978	0	978	+21.6%

Earnings per share (€)	6.92	6.07		6.07	+14.1%
Earnings per share – Adjusted (€)	5.82	4.76		4.76	+22.2%

Definition of assets under management and net inflows

Assets under management and net inflows including advised and marketed assets and funds of funds, including 100% of assets under management and net inflows from Asian JVs; for Wafa Gestion in Morocco, the distribution to US clients of Victory Capital and ICG, assets under management and net inflows are included according to Amundi’s share in the capital of the entities.

Evolution of assets under management from the end of 2022 to the end of September 2026

(€bn)	*Assets under management*	*Net* *flows*	*Market and forex effect*	*Scope* *effect*			*Change in assets under management* *vs. prior quarter*
31.12.2022	1,904					+0.5%
Q1 2023		-11.1	+40.9		–
31.03.2023	1,934					+1.6%
Q2 2023		+3.7	+23.8		–
31.06.2023	1,961					+1.4%
Q3 2023		+13.7	-1.7		–
30.09.2023	1,973					+0.6%
Q4 2023		+19.5	+63.8		-20
31.12.2023	2,037					+3.2%
Q1 2024		+16.6	+62.9		–
31.03.2024	2,116					+3.9%
Q2 2024		+15.5	+16.6		+7.9
30.06.2024	2,156					+1.9%
Q3 2024		+2.9	+32.5		–
30.09.2024	2,192					+1.6%
Q4 2024		+20.5	+28.1		–
31.12.2024	2,240					+2.2%
Q1 2025		+31.1	-24.0		–
31.03.2025	2,247					+0.3%
Q2 2025		+20.4	+9.2		-9.7
30.06.2025	2,267					+0.9%
Q3 2025		+15.1	+35.2		–
30.09.2025	2,317					+2.2%
Q4 2025		+20.9	+41.6		–
31.12.2025	2,380					+2.7%
Q1 2026		+32.0	-13.6		–
31.03.2026	2,398					+0.8%
Q2 2026		+24.4	+152.7		+5.8
30.06.2026	2,581					+7.6%
Q3 2026		+6.5	-8.8		–
30.09.2026	2,579					-0.1%

Total year-on-year between 30 September 2025 and 30 September 2026: +11.3% including transfers related to the institutional mandate in India (-€39.1bn in Q3 2026)

Net inflows +€83.9bn
Market effect +€162.1bn
Change rate effect +€9.8bn
Perimeter effect +€5.8bn ICG assets under management recognized as at 1 April 2026

Details of assets under management and net inflows by client segments⁹

*(€bn)*	AuM 30.09.2026	AuM 30.09.2025	% ch. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
Retail	915	781	+17.1%	+21.2	+7.4	+49.3	+18.6
*Institutional ()**	767	672	+14.1%	+19.1	-0.5	+20.8	+17.3
CA & SG Insurers	470	450	+4.5%	+0.6	+4.1	+18.2	+13.5
Associated companies	427	414	+3.1%	-34.4¹⁰	+4.1	-25.4¹⁰	+17.2
JVs	347	354	-2.0%	-36.4¹⁰	+4.6	-27.4¹⁰	+17.9
Victory-US distribution	72	60	+20.4%	+1.9	-0.6	+1.7	-0.6
ICG	8	–	NM	+0.0	–	+0.2	–
Total	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
Total (excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

(*) Including funds of funds

Details of assets under management and net inflows by asset classes⁹

(€bn)	AuM 30.09.2026	AuM 30.09.2025	% ch. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
Equities	747	592	+26.2%	+17.7	+4.6	+42.4	+37.8
Multi-assets	324	280	+15.5%	+9.4	+2.8	+7.3	+1.9
Bonds	800	742	+7.8%	+14.3	+2.3	+44.4	+23.2
Private, alternative & structured assets	104	106	-2.2%	+1.2	-0.6	-0.2	-5.9
MLT ASSETS³ *()**	1,975	1,721	+14.8%	+42.5	+9.0	+93.9	+57.0
*Treasury products ()**	177	183	-3.0%	-1.5	+2.1	-5.6	-7.6
TOTAL ASSETS excl. associates	2,152	1,903	+13.1%	+40.9	+11.0	+88.3	+49.4
Associates	427	414	+3.1%	-34.4¹⁰	+4.1	-25.4¹⁰	+17.2
TOTAL¹⁰	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
*o/w MLT assets*³	*2,362*	*2,098*	*+12.6%*	*+10.4*	*+12.5*	*+68.0*	*+68.7*
*o/w Treasury products*	*217*	*219*	*-0.9%*	*-3.9*	*+2.6*	*-5.1*	*-2.1*
TOTAL(excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

(*) excluding Associates

Details of assets under management and net inflows by type of management and asset classes⁹

(€bn)	AuM 30.09.2026	AuM 30.09.2025	% ch. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
Active management	1,214	1,133	+7.1%	+13.9	-0.8	+29.4	+8.3
Equities	223	200	+11.6%	-0.1	-2.5	-1.1	-7.3
Multi-assets	301	271	+11.0%	+7.0	+2.6	+6.1	+1.7
Bonds	690	662	+4.1%	+6.9	-0.9	+24.4	+13.9
Structured products	35	41	-14.6%	-0.6	-1.0	-5.6	-4.4
ETF & Index solutions	657	481	+36.6%	+27.4	+10.4	+64.7	+54.6
ETFs & ETCs	432	314	+37.5%	+16.8	+9.8	+44.6	+28.4
Index solutions	225	167	+35.0%	+10.6	+0.6	+20.1	+26.2
Private & alternative assets	70	66	+5.5%	+1.8	+0.3	+5.3	-1.4
*MLT ASSETS ()**	1,975	1,721	+14.8%	+42.5	+9.0	+93.9	+57.0
*Treasury products ()**	177	183	-3.0%	-1.5	+2.1	-5.6	-7.6
TOTAL excl. associates	2,152	1,903	+13.1%	+40.9	+11.0	+88.3	+49.4
Associates	427	414	+3.1%	-34.4¹⁰	+4.1	-25.4¹⁰	+17.2
TOTAL	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
*o/w MLT assets*	*2,362*	*2,098*	*+12.6%*	*+10.4*	*+12.5*	*+68.0*	*+68.7*
*o/w Treasury products*	*217*	*219*	*-0.9%*	*-3.9*	*+2.6*	*-5.1*	*-2.1*
TOTAL (excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

(*) excluding Associates

Details of assets under management and net inflows by geographic area⁹

(€bn)	AuM 30.09.2026	AuM 30.09.2025	% var. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
France	1,122	1,041	+7.9%	+10.8	+0.7	+42.2	+10.0
Italy	191	200	-4.6%	-0.2	-3.0	-15.5	-6.3
Northern Europe	423	319	+30.3%	+18.2	+4.3	+39.6	+23.9
Rest of Europe	201	167	+20.0%	+5.9	+2.6	+13.2	+5.7
Asia	486	461	+5.3%	-31.3¹⁰	+7.4	-15.3¹⁰	+29.0
Rest of the world	155	129	+20.6%	+3.0	+3.0	-1.2	+4.3
TOTAL	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
TOTAL(excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

Methodological Appendix – Alternative Performance Measures (APM)

Accounting and adjusted data

Amundi has chosen to present adjusted accounting data for certain income items (net revenues, operating expenses, share of net income of associates) in order to better reflect the company’s economic and operating profitability. These adjustments are intended to neutralise the impacts identified during acquisitions:

amortisation of distribution agreements or client contracts (UniCredit, Banco Sabadell, Alpha Associates) in other revenues;
depreciation and amortisation related to the inclusion of earn-outs (Alpha Associates) and the change in the market value of the stake in ICG (in Q4 2025 and Q1 2026) in net financial income;
depreciation of technology intangible assets (aixigo) in operating expenses;
integration and acquisition costs (Victory Capital in Q2 2025, ICG in Q4 2025) in operating expenses;
capital gains or losses on disposals (Victory Capital in Q2 2025 and SBI FM in Q3 2026) in profit or loss on other assets
as well as provisioned expenses related to optimisation or restructuring plans into operating expenses.

The adjustments applied by Victory Capital, a listed equity-accounted investment, between its reported results and its adjusted results are included identically in the results of the Amundi Group, as they correspond to adjustments of the same nature as those of the Group detailed above. They are included in the line of share of net income from associates.

Finally, as at 31 March 2026, Amundi neutralised the impact of the first consolidation of ICG on the equity-accounted line: reversal of the revaluation of shares in Q4 2025 and Q1 2026 booked in revenues and recognition of ICG’s net book value and activation of acquisition costs in Q1 2026.

The aggregate amounts of these items for the different periods under review are as follows:

Q3 2025 : -€118m pre-tax and -€91m after tax

Q2 2026: -€29m before tax and -€22m after tax

Q3 2026: -€33m pre-tax and -€27m after tax and +€349m in capital gain SBI MF before tax (+€296m after tax)

9M 2025* : -€173m pre-tax and -€134m after tax +€402m of capital gain Victory Capital (without tax effect)

9M 2026: -€73m before tax and -€55m after tax (of which impact of ICG -€68m in revenues and
+€83m in associates, i.e. +€16m after tax) and +€349m in capital gain (SBI MF) before tax (+€296m after tax)

In addition, 5.9 million shares were cancelled by decision of the Board of Directors on 28 October 2026; this cancellation was taken into account in adjusted earnings per share, over the whole of Q3 for the calculation of earnings per share for Q3 2026 and the nine months of 2026 (see p. 13).

Alternative Performance Measures¹¹

In order to present an income statement that is closer to the economic reality, Amundi publishes adjusted data which are calculated in accordance with the methodological appendix presented above. The adjusted data are reconciled with the accounting data as follows:

= accounting data

= adjusted data

(€m)	9M 2026	9M 2025*	Q3 2026	Q3 2025	Q2 2026
Net revenue (a)	2,616	2,369	889	795	913
– Amortisation of intangible assets (bef. Tax)	(54)	(55)	(17)	(18)	(18)
– Other non-cash charges related to Alpha Associates	(5)	(4)	(2)	(1)	(2)
– ICG – mark-to-market valuation	(68)	–	–	–	–
Net revenue – Adjusted (b)	2,743	2,428	908	815	933
Operating expenses (c)	(1,370)	(1,356)	(455)	(518)	(458)
– Integration and restructuring costs (bef. Tax)	0	82	0	80	(0)
– Amortisation related to aixigo PPA (bef. Tax)	5	5	2	2	2
Operating expenses – Adjusted (d)	(1,365)	(1,269)	(454)	(436)	(456)
Gross operating income (e)=(a)+(c)	1,246	1,013	434	277	455
Gross operating income – Adjusted (f)=(b)+(d)	1,378	1,160	454	379	477
Cost / Income ratio (%) -(c)/(a)	52.4%	57.2%	51.2%	65.2%	50.1%
Cost / Income ratio, adjusted (%) -(d)/(b)	49.7%	52.2%	50.0%	53.5%	48.9%
Cost of risk and others (g)	343	395	347	(1)	(1)
Cost of risk and others – Adjusted (h)	(6)	(7)	(2)	(1)	(1)
Share of net income from Associates (i)	296	155	70	51	81
Share of net income from Associates – Adjusted (j)	237	181	83	67	88
Associates – JVs	102	99	32	34	42
Associates – Victory Capital	84	55	26	18	28
Associates – Victory Capital – Adjusted	108	81	36	33	35
Associates – ICG	109	–	13	–	12
Associates – ICG – Adjusted	26	–	14	–	12
Pre-tax income (k)=(e)+(g)+(i)	1,884	1,563	851	327	536
Pre-tax income – Adjusted (l)=(f)+(h)+(j)	1,609	1,334	535	445	564
Corporate tax (m)	(453)	(319)	(174)	(79)	(126)
Corporate tax – Adjusted (n)	(417)	(359)	(125)	(106)	(132)
Non-controlling interests (o)	(3)	3	(1)	1	(1)
Net income group share (p)=(k)+(m)+(o)	1,428	1,246	675	249	409
Net income group share – Adjusted (q)=(l)+(n)+(o)	1,189	978	409	340	431
Earnings per share (€)	6.92	6.07	3.27	1.21	1.98
Earnings per share – Adjusted (€)	5.82	4.76	2.04	1.65	2.09

* pro forma: for comparison purposes after the finalisation of the partnership with Victory Capital on 1 April 2025, Q1 2025 results have been restated as if Amundi US had been consolidated at 100% under the equity method, i.e. without contribution to revenues, expenses and taxes, but only to net income via an equity-accounted contribution to net income line.

Shareholding

	30 September 2026		30 June 2026		31 December 2025		30 September 2025
(units)	Number of shares	% of share capital	Number of shares	% of share capital	Number of shares	% of share capital	Number of shares	% of share capital
Crédit Agricole Group	141,057,399	68.35%	141,057,399	68.35%	141,057,399	68.35%	141,057,399	68.67%
Employees	4,520,297	2.19%	4,847,042	2.35%	4,990,841	2.42%	4,221,408	2.06%
Treasury shares	7,149,086	3.46%	4,805,605	2.33%	1,631,846	0.79%	1,651,188	0.80%
Free float	53,659,544	26.00%	55,676,280	26.98%	58,706,240	28.44%	58,489,267	28.47%

Number of shares at end of period	206,386,326	100.0%	206,386,326	100.0%	206,386,326	100.0%	205,419,262	100.0%
Average number of shares year-to-date	206,386,326	–	206,386,326	–	205,602,077	–	205,419,262	–
Average number of shares quarter-to-date	206,386,326	–	206,386,326	–	206,060,467	–	205,419,262	–

Average number of shares pro rata temporis.

The average number of shares was unchanged between Q2 2026 and Q3 2026, increased by +0.5% between Q3 2025 and Q3 2026 as well as between the first 9 months 2025 and the first 9 months 2026
A capital increase reserved for employees was booked on 22 October 2026. 613,300 shares (~0.3% of the capital before the transaction) were created
A capital increase reserved for employees was booked on 23 October 2025. 967,064 shares (~0.5% of the capital before the transaction) were created
On 3 February 2026, Amundi announced a share buyback programme for a maximum of €500m (c.3% of the capital before the operation). Shares bought are intended to be subsequently cancelled. This programme was completed on 17 September 2026 with 5,913,261 shares bought. They were cancelled following a decision of the Board that was held on 28 October 2026.
For the purpose of calculating adjusted earnings per share for Q3 2026 and the first nine months of 2026, this cancellation was taken into account as if it had occurred on 1 July 2026. Consequently, the adjusted average number of shares is 200,473,065 for Q3 2026 and 204,393,579 for the first nine months of 2026

Financial communication calendar

Q4 & Full Year 2026 Results: 2 February 2027
Q1 2027 earnings release: 29 April 2027
Shareholders’ Meeting: 31 May 2027
Q2 & H1 2027 earnings release: 27 July 2027
Q3 & 9-month 2027 results: 27 October 2027

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players¹², offers over 200 million investors a complete range of savings and investment solutions in active and passive management, in listed and private assets. Developed for a range of distributors (banks, wealth managers, financial advisors…) as well as for institutional investors and corporates, this offering is enhanced by services and technology tools covering the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.6 trillion of assets¹³.

Its six international investment hubs¹⁴, its financial and extra-financial research capabilities and its long-standing commitment to responsible investment make Amundi a leading player in the international asset management landscape.

Thanks to its strong local presence, particularly in Europe and Asia, Amundi offers its clients the expertise and advice of 5,400 professionals across 34 countries.

Amundi, a trusted partner, working every day in the interest of its clients and for society

www.amundi.com

Press contacts:	Shareholder contacts:
Natacha Andermahr	Cyril Meilland, CFA
Tel. +33 1 76 37 86 05	Tel. +33 1 76 32 62 67
natacha.andermahr@amundi.com	cyril.meilland@amundi.com
Corentin Henry	Thomas Lapeyre Annabelle Wiriath
Tel. +33 1 76 32 26 96	Tel. +33 1 76 33 70 54 Tel. +33 1 76 32 43 92
corentin.henry@amundi.com	thomas.lapeyre@amundi.com annabelle.wiriath@amundi.com

DISCLAIMER

This document does not constitute and does not form part of any offer or invitation to sell, exchange, buy or subscribe for, or any solicitation of an offer to buy, exchange or subscribe for any securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or approval under the securities laws of such State or of this jurisdiction. No securities may be offered, subscribed for or sold in the United States of America without being registered in accordance with the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), except under an exemption or in connection with a transaction not subject to the registration requirements of the U.S. Securities Act. The securities of Amundi shares have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offering of its securities in the United States of America or France.

This document may contain forward-looking statements relating to Amundi’s financial position and results. These statements include financial projections and estimates based on scenarios based on a number of economic assumptions made in a given competitive and regulatory environment, assumptions about plans, objectives and expectations relating to future events, operations, products and services, and assumptions about future performance and synergies. By their nature, they are therefore subject to known and unknown risks and uncertainties that may cause them not to materialise. Accordingly, no assurance can be given that these forward-looking statements will materially occur and Amundi’s actual financial position and results could differ materially from those projected or implied in such statements. These risks and uncertainties include, but are not limited to, the risk factors mentioned or identified in the documents made public that Amundi files from time to time with the French Autorité des Marchés Financiers, including the risk factors set out in section 5.2 “Risk Factors” of our Universal Registration Document for the fiscal year ended December 31, 2025, available on the Regulated Information page of Amundi’s website (about.amundi.com/regulated-information). Readers are advised to consider all of these risks and uncertainties before forming their own opinions.

Any forward-looking statements made by Amundi are made as of the date of this document. Amundi undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances, or otherwise, except as required by applicable laws and regulations.

This document refers to certain non-IFRS financial measures (or Alternative Performance Measures) used by Amundi to analyse operating trends, financial performance and financial position and to provide investors with additional information deemed useful and relevant regarding Amundi’s results. These Alternative Performance Measures are not measures recognised by IFRS, or any other generally accepted accounting standard, and they generally do not have a standardised meaning and therefore may not be comparable with similarly named measures used by other companies. Accordingly, none of these Alternative Performance Measures should be considered in isolation or as a substitute for the financial statements and notes thereto prepared in accordance with IFRS. For a definition of the Alternative Performance Measures included in this document and their reconciliation to the relevant financial statement item, subtotal or total, please refer to the methodological appendix to this document and section 4.3.4, “Alternative Performance Measures (APM) and pro forma restatements”, of our Universal Registration Document for the fiscal year ended 31 December 2025, available on the Regulated Information page of Amundi’s website (about.amundi.com/regulated-information).

The financial information included in this document for the third quarters and 9 months 2026 and 2025 and the second quarter of 2026 has not been audited by the Statutory auditors. Some of the numbers calculated (including data expressed in millions or billions) and percentages presented in this document have been rounded. In such cases, the totals presented in this document may differ slightly from the totals that would result from the addition of the exact (unrounded) amounts of the data so calculated.

Unless otherwise stated, the sources of rankings and market positions are internal. The information contained in this document, to the extent that it relates to entities other than Amundi, or is derived from external sources, has not been reviewed by a supervisory authority, nor has it generally been subject to independent verification, and no representation or commitment is given in respect of it, and no certainty should be given as to the accuracy, the truthfulness, accuracy and completeness of the information or opinions contained in this document. Neither Amundi nor its representatives shall be liable for any decision taken or negligence or for any damage that may result from the use of this document or its content or anything relating to them or any document or information to which this document may refer.

¹ Adjusted data: see p. 11
² Excluding transfers related to an institutional mandate managed by Indian JV SBI FM, amounting to -€39.1bn in Q3 2026, and carrying a negligible margin; including these transfers, total net inflows were +€6.5bn in Q3 and +€62.9bn over nine months
³ Medium-to-Long Term (MLT) assets, excluding associates: Asian JVs, Victory Capital’s US distribution and ICG
⁴ See definition of assets under management and net inflows on p.8; the Employee Savings and Retirement (ESR) business line was presented with the Institutional segment until the results of the 4^th quarter of 2025, it is now integrated into the Retail segment; the 2025 quarterly series have been restated to take account of this new allocation
⁵ Pro forma: in this document, the historical series have been restated on a comparable basis, see appendix p.7
⁶ Altersvorsorgedepot (retirement savings account), of which marketing will begin on 1 January 2027
⁷ Recognised for Amundi’s share in the capital, i.e. 27.59% for Victory Capital (27.45% in Q2) and 9.83% for ICG (7.72% in Q2)
⁸ 26% of Victory Capital as from Q2 2025, 27% in T2 and Q3 2026 and 100% of Amundi US in Q1 2025
⁹ See definition of assets under management, p.9
¹⁰ Including – €39.1bn of transfers related to the institutional managed by the Indian JV SBI MF, carrying a negligible margin
¹¹ See also section 4.3 of the 2025 Universal Registration Document filed with the AMF on 31 March 2026 under number D26-0183
¹² Source: IPE “Top 500 Asset Managers” published in June 2026, based on assets under management as at 31/12/2025.
¹³ Amundi data as at 30/09/2026.
¹⁴ Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital).

Attachment

Amundi_PR_results_Q3_2026_EN

Posted in UncategorizedTagged GlobeNewswire

Amundi: Third quarter and Nine-months 2026 results

Posted on October 29, 2026 by Ravi Shankar

Amundi Third Quarter & First Nine Months 2026 Results

Net income¹ up +20% Q3/Q3,
+€102bn in net inflows² over nine months

Strong net inflows²		Net inflows² of +€102bn over nine months, +€46bn in Q3 excluding transfers related to a large institutional mandate in India² Strong contribution from medium-long-term assets (MLTs³) and Retail Assets under management⁴ of €2.6tn at the end of September, up +11% year-on-year, stable in Q3

Strong earnings growth		Net income¹: €409m in Q3, up +20% Q3/Q3, +22% 9M/9M⁵ Revenue¹ growth of +11% Q3/Q3, driven by management fees Costs: very positive jaws effect of 7 points Q3/Q3, cost-income ratio¹ to 50.0% in Q3 Accounting net income: €675m in Q3, including c.€300m capital gain related to the IPO of SBI FM

Good progress across strategic priorities		Digital players: +€4bn net inflows in Q3, 2 new partnerships plus partnership extensions Retirement: +€12bn net inflows in Q3; new German distribution mandate and two institutional mandates in Germany and Asia Distribution partnership with Banco Sabadell extended by five years, until 2035 Geographies: strong net inflows in Q3 in Northern Europe (+€18bn), Asia² (+€8bn) and the Middle East (+€2bn) Active management: +€14bn net inflows, driven by fixed income and multi-asset management ETFs: +€17bn net inflows, assets under management >€100bn in Germany Private assets: completion of 9.9% ICG stakebuilding; launch of first ICG co-developed evergreen fund Surplus capital of €1bn+ following completion of ICG stake building and €500m share buyback

Paris, 29 October 2026

Amundi’s Board of Directors met on 28 October 2026 under the chairmanship of Olivier Gavalda, and reviewed the financial statements for the third quarter and the first nine months of 2026.

Strong business momentum and innovation across the 2028 strategic plan ambitions

In the third quarter, the Amundi Group recorded sustained activity, fuelled by innovations and commercial successes in the strategic priorities of its Invest for the Future 2028 plan:

Clients:

Net inflows from digital players totalled +€4bn. Amundi signed two new partnerships in the third quarter, and extended existing relationships.
On retirement, Amundi collected +€12bn. In Germany, a new agreement for the distribution of “pillar 3” retirement solutions (AVD)⁶ was signed with a distributor. Two new institutional mandates were won, with a German regional authority and in Asia.
The distribution partnership with Banco Sabadell, which was due to be renewed in 2030, has been extended by 5 years, until 2035. Discretionary portfolio management for Banco Sabadell, Cartera Sabadell, launched in 2024, has exceeded €3bn in assets under management, out of a total of nearly €30bn managed for all of the bank’s clients.

Geographies:

Northern Europe recorded net inflows of +€18bn, positive in all countries in the region, particularly in the United Kingdom, in Germany with digital players, in Ireland with an institutional client and in the Netherlands in third-party distribution. Net inflows are therefore diversified by countries and types of clients.
Asia collected +€8bn², of which +€5bn from direct distribution (excluding JVs). China (+€2bn) is the leading contributor, thanks to the two JVs and direct distribution. In Japan, the thematic fund on energy transition materials, launched in partnership with a broker, is the leading thematic fund by net inflows in the year-to-date, and the fourth active fund by net inflows across all categories..

Solutions:

In active management, net inflows accelerated to +€14bn, driven primarily by fixed income and multi-asset. This reflects the high performance of Amundi’s flagship fixed-income funds, such as Global Aggregate and Emerging Markets Bonds. Victory Capital’s US and global strategies, distributed in Europe and Asia, once again raised nearly +€3bn in Q3, in equities and multi-asset.
The ETF platform reached €432bn in assets under management at the end of September, of which €100bn+ in Germany, a country where net inflows are very dynamic thanks to digital players. The Group’s net inflows in ETFs accelerated to +€17bn in Q3. Amundi is the leading collector for European-equity ETFs, notably with the Core Stoxx Europe 600 ETF, which reached €21bn in assets. Eight new index strategies were launched, including thematic technology ETFs. Three new active ETFs were also launched, combining quantitative and fundamental approaches and offering exposures to global, European and eurozone equities markets.
In private assets, the first evergreen fund resulting from the partnership with ICG, Amundi ICG Global Private Equity Secondaries, was launched. Amundi Alpha’s multi-management strategies raised +€1.3bn, thanks in particular to the win of two Infrastructure mandates with institutional clients in France and Germany.
Finally, in responsible investment, a fund dedicated to the restoration of forest ecosystems, Arbora Nova, has been launched with the ambition of mobilising €200m.

Technology:

Amundi Technology continued to deliver strong revenue growth, with revenues up +17% Q3/Q3.

Efficiency:

The Amundi Investment Institute has developed a model combining its cross-asset analysis framework and generative AI to build scenarios and asset allocation proposals, over multiple time horizons. The model saves half the analysis time compared to previous tools and supports better-informed still investment decisions.

ICG partnership and dynamic capital management

ICG: the launch of the first fund of the partnership followed the completion of the acquisition of a 9.9% stake in this company specialising in private assets. The final acquisition cost was €620m, below the amount estimated when the partnership was announced.
The €500m share buyback programme was completed in September. 5.9 million shares, representing 3% of the capital, were purchased on the market and then cancelled by decision of the Board of Directors.

After the completion of these two transactions and including the nine-month net income with the capital gain on SBI FM, the capital surplus at the end of September was €1bn+.

Inflows at the highest level: +€102bn² on nine months, of which +€46bn² in Q3

In the third quarter, net inflows² reached +€45.6bn.

Quarterly net inflows of +€45.6bn were broadly diversified across client segments:

+€21bn for Retail, mainly in MLT assets³ (+€18bn), thanks to very dynamic net inflows with third-party distributors (17% annualised, almost exclusively in MLT assets³), and despite the exits from the UniCredit networks, (-€4bn in Q3); assets under management for UniCredit’s networks amounted to €71bn, of which €50bn for the network in Italy;
+€20bn for Institutional, of which +€25bn in MLT assets³, thanks in particular to several new mandates in Europe and Asia, on a wide range of expertise (active fixed income, index solutions, ETFs, private assets, etc.); the mandates with CA and SG insurers also benefited from the good momentum of life contracts in euros;
and +€5bn for associates excluding transfers related to the institutional mandate in India². JV net inflows reached +€3bn excluding the Indian mandate, of which +€5bn in MLT assets³, partially offset by outflows from money market funds at the end of the quarter in Korea, China and India. Victory Capital’s US distribution⁷ collected +€2bn.

Third Quarter 2026 Results – net income¹ +20% year-on-year

Adjusted net revenues¹ amounted to €908m. They are up by +11.3% compared to the third quarter of 2025, driven by business-related revenues:

Net management fees increased by +13.1% Q3/Q3, driven by continued net inflows and asset growth;
Performance fees, at €20m, are seasonally more limited in Q3;
Technology revenues amounted to €34m, up +16.5%;
Net financial income¹ amounted to €9m, up from the same quarter last year (€6m) thanks to the rate hikes in the euro area year-on-year, but down from the second quarter, which benefited from the market rebound in the quarter and seasonal dividends.

Thanks to the jaws effect, the cost-income ratio improved year-on-year to 50.0% on an adjusted basis¹.

Pre-tax income¹ was €535m, up +20.1% compared to the third quarter of 2025.

Adjusted tax charge¹ for the third quarter 2026 includes the quarterly impact of the exceptional tax contribution in France (-€10m), equivalent to that of the third quarter of 2025 (-€9m).

Adjusted net income¹ rose to €409m, up by +20.2% Q3/Q3.

Accounting data:

Accounting earnings per share reached €3.27. This does not account yet for the cancellation of the shares from the buy-back programme.

Results for the first nine months of 2026– Earnings per share¹ +23% year-on-year

Adjusted operating expenses¹, at €1,365m, increased by +7.6% 9M/9M pro forma⁵, showing a positive jaws effect of over 6 percentage points compared to the increase⁵ in revenues¹.

The cost-income ratio improved by 2.5 percentage points to 49.7% on an adjusted data basis¹ and pro forma⁵.

Pre-tax income¹ achieved €1,609m, up +20.6% compared to the first nine months of 2025 pro forma⁵.

Adjusted tax charge¹ included the exceptional tax contribution in France (-€66m), equivalent to that of the same period in 2025 (-€64m).

Adjusted net income¹ rose to €1,189m, up +21.6% 9M/9M pro forma⁵.

Accounting data:

Accounting earnings per share reached €6.92. This does not account yet for the cancellation of the shares from the buy-back programme

APPENDICES

Adjusted income statement¹ of the third quarter of 2026

(€m)	Q3 2026	Q3 2025	% ch. Q3/Q3	Q2 2026	% ch. Q3/Q2

Net revenue – Adjusted	908	815	+11.3%	933	-2.7%
Net management fees	845	747	+13.1%	837	+1.0%
Performance fees	20	33	-41.0%	36	-45.8%
Technology	34	29	+16.5%	32	+4.8%
Net financial income & other net income – Adjusted	9	6	+50.9%	27	-68.1%
Operating expenses – Adjusted	(454)	(436)	+4.0%	(456)	-0.5%
Cost income ratio – Adjusted	50.0%	53.5%	-3.5pp	48.9%	+1.1pp
Gross operating income – Adjusted	454	379	+19.7%	477	-4.9%
Cost of risk & others – Adjusted	(2)	(1)	+87.4%	(1)	+79.8%
Associates – JVs	32	34	-6.0%	42	-24.3%
Associates – Victory Capital – Adjusted	36	33	+9.8%	35	+5.4%
Associates – ICG – Adjusted	14	–	NM	12	+22.3%
Pre-tax income – Adjusted	535	445	+20.1%	564	-5.3%
Corporate tax – Adjusted	(125)	(106)	+18.1%	(132)	-5.6%
Non-controlling interests	(1)	1	NM	(1)	+47.9%
Net income group share – Adjusted	409	340	+20.2%	431	-5.3%
Depreciation of intangible assets (net of tax)	(13)	(14)	-6.6%	(14)	-7.1%
ICG stake – mark-to-market revaluation	(2)	–	NM	–	NM
Integration costs and PPA depreciation (net of tax)	(1)	(61)	-98.0%	(1)	-0.0%
Associates adjustments (after tax, group share) – Victory	(11)	(15)	-31.9%	(7)	+54.2%
Associates adjustments (after tax, group share) – ICG	(2)	–	NM	–	NM
Capital gains (SBI FM in 2026), net of tax	296	(0)	NM	–	NM
Net income group share	675	249	x2.7	409	+65.2%
Earnings per share (€)	3.27	1.21	x2.7	1.98	+65.2%
Earnings per share – Adjusted (€)	2.04	1.65	+23.2%	2.09	-2.5%

Adjusted income statement¹ from the first 9 months of 2026

(€m)	9M 2026	9M 2025*	% ch. 9M/9M*

Net revenue – Adjusted	2,743	2,428	+13.0%
Net management fees	2,465	2,201	+12.0%
Performance fees	142	91	+57.0%
Technology	97	81	+20.6%
Net financial income & other net income – Adjusted	39	56	-30.4%
Operating expenses – Adjusted	(1,365)	(1,269)	+7.6%
Cost income ratio – Adjusted	49.7%	52.2%	-2.5pp
Gross operating income – Adjusted	1,378	1,160	+18.9%
Cost of risk & others – Adjusted	(6)	(7)	-11.5%
Associates – JVs	102	99	+2.8%
Associates –US⁸ operations – Adjusted	108	81	+32.7%
Associates – ICG – Adjusted	26	–	NM
Pre-tax income – Adjusted	1,609	1,334	+20.6%
Corporate tax – Adjusted	(417)	(359)	+16.2%
Non-controlling interests	(3)	3	NM
Net income group share – Adjusted	1,189	978	+21.6%
Depreciation of intangible assets (net of tax)	(42)	(43)	-1.8%
ICG stake – mark-to-market revaluation	(71)	–	NM
Integration costs and PPA depreciation (net of tax)	(4)	(65)	-94.4%
Associates adjustments (after tax, group share) – Victory	(24)	(26)	-8.9%
Associates adjustments (after tax, group share) – ICG	83	–	NM
Capital gains (Victory in 2025, SBI FM in 2026), net of tax	296	402	-26.4%
Net income group share	1,428	1,246	+14.6%
Earnings per share (€)	6.92	6.07	+14.1%
Earnings per share – Adjusted (€)	5.82	4.76	+22.2%

Details of the restatements can be found on the following pages.

Adjusted pro forma historical series¹ – Quarters & 9M 2025-2026

(€m)	9M 2026	9M 2025	– Contrib. Amundi US Q1 2025	9M 2025 pro forma	% ch. 9M/9M pro forma

Net management fees	2,465	2,289	88	2,201	+12.0%
Performance fees	142	91	0	91	+57.0%
Net asset management revenues	2,607	2,380	88	2,292	+13.7%
Technology	97	81	0	81	+20.6%
Net financial & other income	(88)	(2)	2	(4)	NM
Net financial & other income – Adjusted	39	57	2	56	-30.4%

Net revenue (a)	2,616	2,458	90	2,369	+10.4%
Net revenue – Adjusted (b)	2,743	2,518	90	2,428	+13.0%

Operating expenses (c)	(1,370)	(1,423)	(67)	(1,356)	+1.0%
Operating expenses – Adjusted (d)	(1,365)	(1,330)	(67)	(1,269)	+7.6%

Gross operating income (e)=(a)+(c)	1,246	1,035	22	1,013	+23.1%
Gross operating income – Adjusted (f)=(b)+(d)	1,378	1,187	28	1,160	+18.9%
Cost income ratio (%) -(c)/(a)	52.4%	57.9%	75.0%	57.2%	-4.9pp
Cost income ratio – Adjusted (%) -(d)/(b)	49.7%	52.8%	75.0%	52.2%	-2.5pp
Cost of risk & others (g)	343	395	(0)	395	-13.3%
Cost of risk & others – Adjusted (h)	(6)	(7)	(0)	(7)	-11.5%
Associates – JVs (i)	102	99		99	+2.8%
Associates – US operations (j)	84	38	(18)	55	+52.4%
Associates – US operations – Adjusted (k)	108	60	(22)	81	+32.7%
Associates – ICG (l)	109
Associates – ICG – Adjusted (m)	26
Pre-tax income (n)=(e)+(g)+(i)+(j)+(l)	1,884	1,567	5	1,563	+20.6%
Pre-tax income – Adjusted (o)=(f)+(h)+(i)+(k)+(m)	1,609	1,340	10	1,334	+20.6%
Corporate tax (p)	(453)	(324)	(5)	(319)	+42.1%
Corporate tax – Adjusted (q)	(417)	(365)	(6)	(359)	+16.2%
Non-controlling interests (r)	(3)	3	0	3	NM
Net income group share (s)=(n)+(p)+(r)	1,428	1,246	0	1,246	+14.6%
Net income group share – Adjusted (t)=(o)+(q)+(r)	1,189	978	0	978	+21.6%

Earnings per share (€)	6.92	6.07		6.07	+14.1%
Earnings per share – Adjusted (€)	5.82	4.76		4.76	+22.2%

Definition of assets under management and net inflows

Evolution of assets under management from the end of 2022 to the end of September 2026

(€bn)	*Assets under management*	*Net* *flows*	*Market and forex effect*	*Scope* *effect*			*Change in assets under management* *vs. prior quarter*
31.12.2022	1,904					+0.5%
Q1 2023		-11.1	+40.9		–
31.03.2023	1,934					+1.6%
Q2 2023		+3.7	+23.8		–
31.06.2023	1,961					+1.4%
Q3 2023		+13.7	-1.7		–
30.09.2023	1,973					+0.6%
Q4 2023		+19.5	+63.8		-20
31.12.2023	2,037					+3.2%
Q1 2024		+16.6	+62.9		–
31.03.2024	2,116					+3.9%
Q2 2024		+15.5	+16.6		+7.9
30.06.2024	2,156					+1.9%
Q3 2024		+2.9	+32.5		–
30.09.2024	2,192					+1.6%
Q4 2024		+20.5	+28.1		–
31.12.2024	2,240					+2.2%
Q1 2025		+31.1	-24.0		–
31.03.2025	2,247					+0.3%
Q2 2025		+20.4	+9.2		-9.7
30.06.2025	2,267					+0.9%
Q3 2025		+15.1	+35.2		–
30.09.2025	2,317					+2.2%
Q4 2025		+20.9	+41.6		–
31.12.2025	2,380					+2.7%
Q1 2026		+32.0	-13.6		–
31.03.2026	2,398					+0.8%
Q2 2026		+24.4	+152.7		+5.8
30.06.2026	2,581					+7.6%
Q3 2026		+6.5	-8.8		–
30.09.2026	2,579					-0.1%

Total year-on-year between 30 September 2025 and 30 September 2026: +11.3% including transfers related to the institutional mandate in India (-€39.1bn in Q3 2026)

Net inflows +€83.9bn
Market effect +€162.1bn
Change rate effect +€9.8bn
Perimeter effect +€5.8bn ICG assets under management recognized as at 1 April 2026

Details of assets under management and net inflows by client segments⁹

*(€bn)*	AuM 30.09.2026	AuM 30.09.2025	% ch. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
Retail	915	781	+17.1%	+21.2	+7.4	+49.3	+18.6
*Institutional ()**	767	672	+14.1%	+19.1	-0.5	+20.8	+17.3
CA & SG Insurers	470	450	+4.5%	+0.6	+4.1	+18.2	+13.5
Associated companies	427	414	+3.1%	-34.4¹⁰	+4.1	-25.4¹⁰	+17.2
JVs	347	354	-2.0%	-36.4¹⁰	+4.6	-27.4¹⁰	+17.9
Victory-US distribution	72	60	+20.4%	+1.9	-0.6	+1.7	-0.6
ICG	8	–	NM	+0.0	–	+0.2	–
Total	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
Total (excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

(*) Including funds of funds

Details of assets under management and net inflows by asset classes⁹

(€bn)	AuM 30.09.2026	AuM 30.09.2025	% ch. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
Equities	747	592	+26.2%	+17.7	+4.6	+42.4	+37.8
Multi-assets	324	280	+15.5%	+9.4	+2.8	+7.3	+1.9
Bonds	800	742	+7.8%	+14.3	+2.3	+44.4	+23.2
Private, alternative & structured assets	104	106	-2.2%	+1.2	-0.6	-0.2	-5.9
MLT ASSETS³ *()**	1,975	1,721	+14.8%	+42.5	+9.0	+93.9	+57.0
*Treasury products ()**	177	183	-3.0%	-1.5	+2.1	-5.6	-7.6
TOTAL ASSETS excl. associates	2,152	1,903	+13.1%	+40.9	+11.0	+88.3	+49.4
Associates	427	414	+3.1%	-34.4¹⁰	+4.1	-25.4¹⁰	+17.2
TOTAL¹⁰	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
*o/w MLT assets*³	*2,362*	*2,098*	*+12.6%*	*+10.4*	*+12.5*	*+68.0*	*+68.7*
*o/w Treasury products*	*217*	*219*	*-0.9%*	*-3.9*	*+2.6*	*-5.1*	*-2.1*
TOTAL(excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

(*) excluding Associates

Details of assets under management and net inflows by type of management and asset classes⁹

(€bn)	AuM 30.09.2026	AuM 30.09.2025	% ch. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
Active management	1,214	1,133	+7.1%	+13.9	-0.8	+29.4	+8.3
Equities	223	200	+11.6%	-0.1	-2.5	-1.1	-7.3
Multi-assets	301	271	+11.0%	+7.0	+2.6	+6.1	+1.7
Bonds	690	662	+4.1%	+6.9	-0.9	+24.4	+13.9
Structured products	35	41	-14.6%	-0.6	-1.0	-5.6	-4.4
ETF & Index solutions	657	481	+36.6%	+27.4	+10.4	+64.7	+54.6
ETFs & ETCs	432	314	+37.5%	+16.8	+9.8	+44.6	+28.4
Index solutions	225	167	+35.0%	+10.6	+0.6	+20.1	+26.2
Private & alternative assets	70	66	+5.5%	+1.8	+0.3	+5.3	-1.4
*MLT ASSETS ()**	1,975	1,721	+14.8%	+42.5	+9.0	+93.9	+57.0
*Treasury products ()**	177	183	-3.0%	-1.5	+2.1	-5.6	-7.6
TOTAL excl. associates	2,152	1,903	+13.1%	+40.9	+11.0	+88.3	+49.4
Associates	427	414	+3.1%	-34.4¹⁰	+4.1	-25.4¹⁰	+17.2
TOTAL	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
*o/w MLT assets*	*2,362*	*2,098*	*+12.6%*	*+10.4*	*+12.5*	*+68.0*	*+68.7*
*o/w Treasury products*	*217*	*219*	*-0.9%*	*-3.9*	*+2.6*	*-5.1*	*-2.1*
TOTAL (excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

(*) excluding Associates

Details of assets under management and net inflows by geographic area⁹

(€bn)	AuM 30.09.2026	AuM 30.09.2025	% var. /30.09.2025	Inflows Q3 2026	Inflows Q3 2025	Inflows 9M 2026	Inflows 9M 2025
France	1,122	1,041	+7.9%	+10.8	+0.7	+42.2	+10.0
Italy	191	200	-4.6%	-0.2	-3.0	-15.5	-6.3
Northern Europe	423	319	+30.3%	+18.2	+4.3	+39.6	+23.9
Rest of Europe	201	167	+20.0%	+5.9	+2.6	+13.2	+5.7
Asia	486	461	+5.3%	-31.3¹⁰	+7.4	-15.3¹⁰	+29.0
Rest of the world	155	129	+20.6%	+3.0	+3.0	-1.2	+4.3
TOTAL	2,579	2,317	+11.3%	+6.5¹⁰	+15.1	+62.9¹⁰	+66.6
TOTAL(excl. transfers in India)	2,579	2,317	+11.3%	+45.6	+15.1	+102.0	+66.6

Methodological Appendix – Alternative Performance Measures (APM)

Accounting and adjusted data

amortisation of distribution agreements or client contracts (UniCredit, Banco Sabadell, Alpha Associates) in other revenues;
depreciation and amortisation related to the inclusion of earn-outs (Alpha Associates) and the change in the market value of the stake in ICG (in Q4 2025 and Q1 2026) in net financial income;
depreciation of technology intangible assets (aixigo) in operating expenses;
integration and acquisition costs (Victory Capital in Q2 2025, ICG in Q4 2025) in operating expenses;
capital gains or losses on disposals (Victory Capital in Q2 2025 and SBI FM in Q3 2026) in profit or loss on other assets
as well as provisioned expenses related to optimisation or restructuring plans into operating expenses.

The aggregate amounts of these items for the different periods under review are as follows:

Q3 2025 : -€118m pre-tax and -€91m after tax

Q2 2026: -€29m before tax and -€22m after tax

Q3 2026: -€33m pre-tax and -€27m after tax and +€349m in capital gain SBI MF before tax (+€296m after tax)

9M 2025* : -€173m pre-tax and -€134m after tax +€402m of capital gain Victory Capital (without tax effect)

Alternative Performance Measures¹¹

= accounting data

= adjusted data

(€m)	9M 2026	9M 2025*	Q3 2026	Q3 2025	Q2 2026
Net revenue (a)	2,616	2,369	889	795	913
– Amortisation of intangible assets (bef. Tax)	(54)	(55)	(17)	(18)	(18)
– Other non-cash charges related to Alpha Associates	(5)	(4)	(2)	(1)	(2)
– ICG – mark-to-market valuation	(68)	–	–	–	–
Net revenue – Adjusted (b)	2,743	2,428	908	815	933
Operating expenses (c)	(1,370)	(1,356)	(455)	(518)	(458)
– Integration and restructuring costs (bef. Tax)	0	82	0	80	(0)
– Amortisation related to aixigo PPA (bef. Tax)	5	5	2	2	2
Operating expenses – Adjusted (d)	(1,365)	(1,269)	(454)	(436)	(456)
Gross operating income (e)=(a)+(c)	1,246	1,013	434	277	455
Gross operating income – Adjusted (f)=(b)+(d)	1,378	1,160	454	379	477
Cost / Income ratio (%) -(c)/(a)	52.4%	57.2%	51.2%	65.2%	50.1%
Cost / Income ratio, adjusted (%) -(d)/(b)	49.7%	52.2%	50.0%	53.5%	48.9%
Cost of risk and others (g)	343	395	347	(1)	(1)
Cost of risk and others – Adjusted (h)	(6)	(7)	(2)	(1)	(1)
Share of net income from Associates (i)	296	155	70	51	81
Share of net income from Associates – Adjusted (j)	237	181	83	67	88
Associates – JVs	102	99	32	34	42
Associates – Victory Capital	84	55	26	18	28
Associates – Victory Capital – Adjusted	108	81	36	33	35
Associates – ICG	109	–	13	–	12
Associates – ICG – Adjusted	26	–	14	–	12
Pre-tax income (k)=(e)+(g)+(i)	1,884	1,563	851	327	536
Pre-tax income – Adjusted (l)=(f)+(h)+(j)	1,609	1,334	535	445	564
Corporate tax (m)	(453)	(319)	(174)	(79)	(126)
Corporate tax – Adjusted (n)	(417)	(359)	(125)	(106)	(132)
Non-controlling interests (o)	(3)	3	(1)	1	(1)
Net income group share (p)=(k)+(m)+(o)	1,428	1,246	675	249	409
Net income group share – Adjusted (q)=(l)+(n)+(o)	1,189	978	409	340	431
Earnings per share (€)	6.92	6.07	3.27	1.21	1.98
Earnings per share – Adjusted (€)	5.82	4.76	2.04	1.65	2.09

Shareholding

	30 September 2026		30 June 2026		31 December 2025		30 September 2025
(units)	Number of shares	% of share capital	Number of shares	% of share capital	Number of shares	% of share capital	Number of shares	% of share capital
Crédit Agricole Group	141,057,399	68.35%	141,057,399	68.35%	141,057,399	68.35%	141,057,399	68.67%
Employees	4,520,297	2.19%	4,847,042	2.35%	4,990,841	2.42%	4,221,408	2.06%
Treasury shares	7,149,086	3.46%	4,805,605	2.33%	1,631,846	0.79%	1,651,188	0.80%
Free float	53,659,544	26.00%	55,676,280	26.98%	58,706,240	28.44%	58,489,267	28.47%

Number of shares at end of period	206,386,326	100.0%	206,386,326	100.0%	206,386,326	100.0%	205,419,262	100.0%
Average number of shares year-to-date	206,386,326	–	206,386,326	–	205,602,077	–	205,419,262	–
Average number of shares quarter-to-date	206,386,326	–	206,386,326	–	206,060,467	–	205,419,262	–

Average number of shares pro rata temporis.

The average number of shares was unchanged between Q2 2026 and Q3 2026, increased by +0.5% between Q3 2025 and Q3 2026 as well as between the first 9 months 2025 and the first 9 months 2026
A capital increase reserved for employees was booked on 22 October 2026. 613,300 shares (~0.3% of the capital before the transaction) were created
A capital increase reserved for employees was booked on 23 October 2025. 967,064 shares (~0.5% of the capital before the transaction) were created
On 3 February 2026, Amundi announced a share buyback programme for a maximum of €500m (c.3% of the capital before the operation). Shares bought are intended to be subsequently cancelled. This programme was completed on 17 September 2026 with 5,913,261 shares bought. They were cancelled following a decision of the Board that was held on 28 October 2026.
For the purpose of calculating adjusted earnings per share for Q3 2026 and the first nine months of 2026, this cancellation was taken into account as if it had occurred on 1 July 2026. Consequently, the adjusted average number of shares is 200,473,065 for Q3 2026 and 204,393,579 for the first nine months of 2026

Financial communication calendar

Q4 & Full Year 2026 Results: 2 February 2027
Q1 2027 earnings release: 29 April 2027
Shareholders’ Meeting: 31 May 2027
Q2 & H1 2027 earnings release: 27 July 2027
Q3 & 9-month 2027 results: 27 October 2027

About Amundi

Thanks to its strong local presence, particularly in Europe and Asia, Amundi offers its clients the expertise and advice of 5,400 professionals across 34 countries.

Amundi, a trusted partner, working every day in the interest of its clients and for society

www.amundi.com

Press contacts:	Shareholder contacts:
Natacha Andermahr	Cyril Meilland, CFA
Tel. +33 1 76 37 86 05	Tel. +33 1 76 32 62 67
natacha.andermahr@amundi.com	cyril.meilland@amundi.com
Corentin Henry	Thomas Lapeyre Annabelle Wiriath
Tel. +33 1 76 32 26 96	Tel. +33 1 76 33 70 54 Tel. +33 1 76 32 43 92
corentin.henry@amundi.com	thomas.lapeyre@amundi.com annabelle.wiriath@amundi.com

DISCLAIMER

Attachment

Amundi_PR_results_Q3_2026_EN

Posted in UncategorizedTagged GlobeNewswire

ING shows continued commercial momentum in 3Q2026 and is well on track to deliver on 2026 outlook

Posted on October 29, 2026 by Ravi Shankar

ING shows continued commercial momentum in 3Q2026 and is well on track to deliver on 2026 outlook

3Q2026 net result of €1,850 million, up 3.5% year-on-year with an ROTE of 16.3%
•	Mobile primary customer base increases by 259,000 in the third quarter
•	Net core lending growth of €11.0 billion and net core deposit growth of €12.1 billion
•	Fee income of €1,273 million, up 9.3% year-on-year
•	Operating expenses remain under control; risk costs affected by a management overlay
•	Profit before tax increases 5.7% year-on-year to €2,705 million
•	Strong capital generation and CET1 ratio of 13.3% allow us to announce a €1.9 billion distribution
•	We are refocusing and simplifying Wholesale Banking to better serve our clients
CEO statement “ING has had a strong third quarter of 2026 as we continue to execute on our strategy and deliver solid commercial and financial performance,” said Steven van Rijswijk, CEO of ING. “Against a backdrop of continuing geopolitical uncertainty, volatility and pressure on consumer and corporate confidence, our clients continue to show their trust in ING and increasingly turn to us for more of their financial needs across our various segments. This demonstrates the strength and resilience of our business, and we remain well on track to deliver on our outlook for 2026. “We’re proud that more customers are choosing ING as their bank. We have added 259,000 mobile primary customers during the quarter, with strong contributions from Germany, the Netherlands and Romania. Total income has grown 5.6% and net result has increased 3.5% year-on-year. As our customer base grows, we are also doing more business with them and seeing higher customer balances, which contributed to double-digit growth in commercial interest income and 9.3% growth in fee income year-on-year. This was partly offset by lower other income, reflecting effects from heightened interest rate volatility, which are expected to reverse over time. “In Retail Banking, our mortgage portfolio has increased by €6.9 billion as we helped more people finance their homes, contributing to lending growth of €8.5 billion, or up 6% annualised. Deposits have grown by €2.7 billion, despite seasonal customer summer holiday spending. As more customers choose to invest with ING, we have also seen continued flows from deposits into investment products, which supported a €6.7 billion increase in assets under management & e-brokerage during the quarter to €328 billion, up 22% year-on-year. “In Wholesale Banking, lending growth was €2.5 billion on the back of continued client demand. Deposits have grown by €9.4 billion, highlighting good deposit-gathering momentum. Fee income has increased 9.4% year-on-year, with strong contributions from Daily Banking & Trade Finance. As part of the ambition to become the best European bank, we are taking a next strategic step in Wholesale Banking to simplify and make it easier for our clients to do business with us. As a reliable banking partner, we aim to create greater value for our clients and all our stakeholders. “Operating expenses have remained under control, with a 1.1% increase quarter-on-quarter as higher staff expenses reflecting wage inflation were partly mitigated by the ongoing implementation of cost initiatives. Risk costs excluding one-offs remained well below our through-the-cycle average of 20 basis points of average customer lending. Return on tangible equity was 16.3% in the quarter, with a four-quarter-rolling-average of 14.8%. “Our capital remains strong, with a CET1 ratio of 13.3%. In line with our capital velocity ambitions, we completed two significant risk-transfer (SRT) transactions during the quarter, generating total RWA relief of €3.0 billion. These included a transaction for Wholesale Banking and one for Retail Banking. “Operating at the right level of capital is in the best interest of all our stakeholders, including our customers and the economies where we do business. After completing the share buyback programme that we announced in April 2026, we today announce a further distribution of €1.9 billion. “We enter the remainder of this year with good momentum and continued customer growth. I would like to thank our employees for their dedication to supporting our customers and clients and for driving our progress in a complex geopolitical and macroeconomic environment. We remain focused on delivering our strategic priorities and look forward to providing an update on our strategy at our Capital Markets Day on 14 June 2027.”

Further information
All publications related to ING’s 3Q 2026 results can be found at the quarterly results page on ing.com. For more on investor information, go to the Investor Overview on ing.com. A short ING ON AIR video with CEO Steven van Rijswijk discussing our 3Q 2026 results is available on Youtube. For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news feed on X. Photos of ING operations, buildings and its executives are available for download at Flickr.

Investor conference call and webcast
Steven van Rijswijk (CEO), Ida Lerner (CFO) and Andrea Cesaroni (CRO) will discuss the results in an Investor conference call on 29 October 2026 at 9:00 a.m. CET. Members of the investment community can join the conference call at +31 20 708 5074 (NL), or +44 330 551 0202 (UK) (registration required via invitation) and via live audio webcast at www.ing.com.

Investor enquiries
T: +31 20 576 6396
E: investor.relations@ing.com

Press enquiries
T: +31 20 576 5000
E: media.relations@ing.com

ING Profile
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI has been upgraded from ‘AA’ to ‘AAA’ in October 2025. As of July 2026, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’ with an ESG risk rating of 16.7 (low risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell.

IMPORTANT LEGAL INFORMATION

Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

ING Group’s financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2025 ING Group consolidated financial statements. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) noncompliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine, other existing or emerging military conflicts, the risk of further military escalation, geopolitical tensions, trade restrictions and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyberattacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information. This document may also discuss one or more specific transactions and/or contain general statements about ING’s ESG approach. The approach and criteria referred to in this document are intended to be applied in accordance with applicable law. Due to the fact that there may be different or even conflicting laws, the approach, criteria or the application thereof, could be different.

Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

Attachment

Full ING Group 3Q 2026 Results Press Release (PDF)

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