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YYForce Capai Titik Balik Profitabilitas dengan Arus Kas Operasional yang Kuat

Sun, 08 Nov 2026 07:28:00 +0700

Monetisasi komersial yang disiplin dan ekspansi Workforce OS mendorong keunggulan operasional berkelanjutan di Asia Tenggara

SINGAPURA, Nov. 07, 2026 (GLOBE NEWSWIRE) -- YYForce Inc. (Nasdaq: YFOR) ("YYForce" atau "Perusahaan"), penyedia teknologi pengelolaan tenaga kerja dan pengelolaan fasilitas terpadu (IFM) yang didukung AI, hari ini mengumumkan sejumlah pencapaian penting di bidang keuangan dan operasional yang menandai peralihan signifikan menuju profitabilitas perusahaan yang berkelanjutan serta arus kas operasional yang positif.

Menyusul transformasi perusahaan baru-baru ini dan penerapan pengelolaan modal yang disiplin, YYForce meningkatkan efisiensi melalui platform Workforce OS miliknya sendiri dan platform pengelolaan properti pintar 24iFM. Dengan beralih dari tahap pengembangan awal menuju monetisasi komersial dalam skala lebih luas dan otomatisasi tugas tertentu, Perusahaan telah berhasil menciptakan struktur keekonomian per unit yang menguntungkan di seluruh wilayah operasional regionalnya di Singapura, Malaysia, serta pasar-pasar Asia Tenggara lainnya yang terus berkembang.

Faktor Utama Pendorong Titik Balik Kinerja Operasional dan Keuangan

Percepatan Langkah Menuju Profitabilitas Bersih: Peningkatan adopsi pelanggan dalam skala lebih luas di sektor perhotelan korporat, properti komersial, dan pengelolaan fasilitas terpadu telah mendorong peningkatan margin. Model tenaga kerja hibrida Perusahaan, yang menggabungkan tenaga kerja fleksibel sesuai permintaan dengan otomatisasi layanan khusus, telah menghasilkan keunggulan operasional signifikan sehingga mendorong hasil konsolidasi menuju profitabilitas bersih berdasarkan prinsip akuntansi yang berlaku umum (GAAP).

Arus Kas Operasional Positif: Pengoptimalan modal kerja, penyederhanaan siklus penagihan piutang usaha, serta kontrak perangkat lunak dan layanan yang bersifat berulang telah memperkuat profil likuiditas Perusahaan sehingga menghasilkan arus kas masuk organik yang kuat.

Keekonomian per Unit & Periode Pengembalian Modal yang Terbukti: Penerapan robotika layanan untuk tugas tertentu dan fasilitas pintar, termasuk implementasi berstandar perusahaan di hotel dan properti komersial terkemuka, telah menunjukkan periode pengembalian modal yang singkat serta ROI terukur bagi klien sehingga meningkatkan retensi pelanggan dan mendorong perluasan kontrak ke berbagai lokasi.

Struktur Modal yang Disederhanakan: Menyusul pengoptimalan strategis neraca keuangan pada awal tahun ini, termasuk penghapusan instrumen utang berbasis tranche dan pembentukan struktur permodalan yang bersih, YYForce kini beroperasi tanpa beban utang yang membayangi sehingga arus kas dari aktivitas operasional dapat secara langsung mendanai inisiatif pertumbuhan yang memberikan nilai tambah.

Komentar dari Eksekutif

"Narasi pasar global telah mencapai titik balik penting: nilai perusahaan dalam jangka panjang tidak lagi ditentukan oleh konsep AI yang spekulatif, melainkan oleh monetisasi nyata, pelaksanaan penuh disiplin, dan tingkat pengembalian investasi (ROI) terukur," ujar Mike Fu, Pendiri, Ketua Dewan Direksi, dan CEO YYForce Inc.

"Di YYForce, kami telah menjadikan kegunaan praktis di dunia nyata sebagai landasan model bisnis kami. Dengan menerapkan robotika yang berorientasi pada tugas dan penjadwalan berbasis AI di sektor-sektor yang menghadapi tantangan operasional tinggi, seperti pengoperasian fasilitas dan perhotelan, kami mengatasi keterbatasan tenaga kerja yang serius bagi mitra perusahaan kami sekaligus mendorong peningkatan margin laba kotor yang sehat. Saat ini, momentum operasional kami telah membawa kami mencapai titik balik yang jelas dalam kinerja keuangan. Dengan pengendalian biaya penuh disiplin, pendapatan berulang kuat, dan neraca keuangan yang telah dioptimalkan, YYForce berada dalam posisi yang unik untuk menghasilkan profitabilitas berkelanjutan dan nilai jangka panjang bagi pemegang saham."

Prospek Strategis

Dalam menghadapi tahun fiskal 2027, YYForce akan terus menjalankan langkah-langkah untuk mencapai tiga prioritas utama di bidang keuangan dan strategi:

Memperluas Kontrak Perusahaan Bermargin Tinggi: Meningkatkan pangsa pembelanjaan pelanggan dari jaringan hotel regional, pusat transportasi, dan kompleks komersial yang sudah ada, sekaligus mengakuisisi fasilitas institusional terkemuka sebagai pelanggan baru.

Efisiensi Modal & Disiplin Pengelolaan Kas: Mempertahankan pengendalian ketat atas pengeluaran operasional, menjaga sumber daya modal, dan menginvestasikan kembali arus kas operasional ke dalam peluang komersial yang berpotensi memberikan tingkat pengembalian yang menarik.

Skalabilitas Lintas Negara: Memanfaatkan arsitektur Workforce OS yang minim aset untuk memperluas jangkauan secara lancar ke pasar-pasar regional dengan permintaan tinggi di seluruh Asia Tenggara dan koridor Asia Pasifik yang lebih luas.

Tentang YYForce Inc.

YYForce Inc. (Nasdaq: YFOR) adalah penyedia platform pengelolaan tenaga kerja dan solusi pengelolaan fasilitas terpadu (IFM) yang didukung AI. Dengan menggabungkan algoritma pencocokan tenaga kerja yang cerdas, perangkat lunak operasional Workforce OS milik sendiri, dan otomatisasi layanan komersial, YYForce mentransformasi pengelolaan tenaga kerja dan pengoperasian fasilitas konvensional menjadi alur kerja yang otomatis, efisien, dan berbasis data di Singapura, Malaysia, serta pasar-pasar pertumbuhan internasional.

Untuk informasi selengkapnya, kunjungi www.yyforce.ai.

Pernyataan Berwawasan ke Depan

Siaran pers ini memuat pernyataan berwawasan ke depan sebagaimana dimaksud dalam Pasal 27A Undang-Undang Sekuritas Tahun 1933, sebagaimana telah diubah, dan Pasal 21E Undang-Undang Perdagangan Sekuritas Tahun 1934, sebagaimana telah diubah. Pernyataan-pernyataan ini didasarkan pada ekspektasi dan asumsi Perusahaan saat ini, serta informasi yang tersedia bagi Perusahaan per tanggal rilis siaran pers ini. Pernyataan berwawasan ke depan dapat dikenali melalui penggunaan kata-kata seperti "mungkin", "akan", "seharusnya", "memperkirakan", "mengantisipasi", "merencanakan", "bermaksud", "meyakini", "mengestimasi", "potensi", atau ungkapan serupa, maupun bentuk negatif dari istilah-istilah ini.

Pernyataan berwawasan ke depan dalam siaran pers ini termasuk tetapi tidak terbatas pada, pernyataan mengenai posisi keuangan Perusahaan di masa mendatang, transisi menuju profitabilitas, perolehan arus kas, strategi bisnis, serta rencana dan tujuan manajemen untuk kegiatan operasional di masa mendatang.

Pernyataan berwawasan ke depan mengandung risiko dan ketidakpastian yang melekat. Peristiwa berwawasan ke depan yang dibahas dalam siaran pers ini mungkin tidak terjadi. Peristiwa dan hasil aktual dapat berbeda secara signifikan serta bergantung pada risiko, ketidakpastian, dan asumsi mengenai Perusahaan serta sejumlah faktor lainnya. Untuk pembahasan lebih detail mengenai faktor-faktor risiko, rujuk dokumen yang diserahkan Perusahaan kepada Komisi Sekuritas dan Bursa A.S., termasuk bagian "Faktor Risiko" dalam laporan tahunan terbaru Perusahaan pada Formulir 20-F, sebagaimana diubah. YYForce tidak berkewajiban untuk memperbarui pernyataan ini kecuali sebagaimana diwajibkan oleh hukum yang berlaku.

Reality Partners with Merkl to Support rToken Dividend Distribution Across DeFi

Sun, 08 Nov 2026 07:26:00 +0700

VICTORIA, Seychelles, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Reality, the tokenization platform bringing publicly listed equities onchain and part of the Bitget ecosystem, has partnered with Merkl to identify eligible rToken holders whose tokens are deployed across supported DeFi protocols.

This will enable them to keep receiving dividends in stablecoin, even when their tokens are put to work in DeFi instead of sitting in a wallet.

rTokens provide tokenized exposure to publicly listed stocks and ETFs, including eligible economic benefits such as dividends. When these tokens are deposited into lending markets, liquidity pools or staking contracts, the smart contract may appear as the holder onchain instead of the individual user. This makes it more difficult to identify who should receive the associated dividend distributions.

Merkl's reward forwarder technology addresses this by tracing token positions through supported smart contracts to identify the underlying holders and allocate distributions according to the applicable rules. The system can account for multiple layers of DeFi contracts and protocol-specific fees. Users and developers can check if individual contracts are supported through the Merkl Studio Forwarder Scan tool.

"The challenge with assets held in DeFi is knowing who sits behind each position," said Pablo Veyrat, CEO and Co-founder of Merkl. "Our forwarder technology traces ownership through nested smart contracts and tells Reality exactly who holds what, so dividends can reach the right people wherever their tokens are deployed."

"Tokenized equities should be useful beyond trading," said Gracy Chen, CEO of Bitget. "If someone puts their rTokens to work in DeFi, they should still be able to receive the dividends they're eligible for. Working with Merkl helps us address that challenge and makes tokenized equities more practical for everyday use."

Under the partnership, Reality continues to manage rToken issuance and dividend entitlements, while Merkl provides the reward forwarding infrastructure for identifying eligible holders across supported DeFi positions. Reality's rToken model distributes eligible cash dividends separately from the token's price, with net cash dividends generally settled in USDT. Distribution through DeFi remains subject to the supported contracts and applicable distribution rules.

The partnership builds on the growing adoption of rTokens within Bitget's UEX ecosystem. According to a DeFiLlama report, rToken trading volume reached $1.16 billion in cumulative volume between June and July, while the number of users trading both crypto and rTokens grew 23.54% month over month in July 2026, pointing to rising demand for tokenized equities as part of broader, cross-asset strategies. The integration with Merkl supports the next stage of development, helping extend the use of tokenized equities beyond exchange-based trading into DeFi.

About Reality

Reality is a regulated real-world asset issuance platform built for global markets, and is proudly part of the Bitget ecosystem. Working with licensed brokers across major exchanges, including Nasdaq and the NYSE, we purchase and hold the underlying assets in custody, then issue the corresponding rights on-chain. This connects traditional capital markets with on-chain infrastructure, opening institutional-grade access to real-world assets for users worldwide.

About Merkl

Merkl is the leading onchain money streaming platform. Stablecoin issuers, fintechs, neobanks and tokenized funds use Merkl to calculate and send yield, dividends and payouts. Merkl tracks ownership across lending markets, liquidity pools and other nested smart contracts, so every payment reaches the beneficial owner behind each position. Since launching in July 2023, Merkl has distributed over $1.8B in tokens across 60+ chains for more than 1,000 companies, including PayPal, Coinbase, Robinhood and Morpho.

YYForce Reaches Profitability Inflection Point with Strong Operating Cash Flow

Sun, 08 Nov 2026 07:18:00 +0700

Disciplined commercial monetization and Workforce OS expansion unlock sustainable operating leverage across Southeast Asia

SINGAPORE, Nov. 06, 2026 (GLOBE NEWSWIRE) -- YYForce Inc. (Nasdaq: YFOR) ("YYForce" or the "Company"), an AI-enabled workforce management and integrated facility management (IFM) technology provider, today announced significant financial and operational milestones marking a decisive transition toward sustained corporate profitability and positive operating cash flow.

Following its recent corporate transformation and disciplined capital management, YYForce is improving efficiency through its proprietary Workforce OS and 24iFM smart estate platform. By moving beyond initial development into scaled commercial monetization and task-specific automation, the Company has established favorable unit economics across its regional footprint in Singapore, Malaysia, and expanding Southeast Asian markets.

Key Operational and Financial Inflection Drivers

Accelerating Path to Net Profitability: Scaled customer adoption across enterprise hospitality, commercial real estate, and integrated facility management has driven margin expansion. The Company's hybrid workforce model; combining flexible on-demand labor with specialized service automation, has unlocked meaningful operational leverage, steering consolidated results toward GAAP net profitability.

Positive Operating Cash Flow: Optimization of working capital, streamlined accounts receivable collection cycles, and recurring software-and-service contracts have strengthened the Company's liquidity profile, generating robust organic cash inflows.

Proven Unit Economics & Payback: Task-specific service robotics and smart facility deployments - including enterprise-grade rollouts at landmark hotel and commercial properties, have demonstrated rapid payback periods and measurable ROI for clients, leading to improved customer retention and multi-site contract expansions.

Streamlined Capital Structure: Following the strategic optimization of its balance sheet earlier this year, including the elimination of tranche-related debt instruments and the establishment of a clean capital structure - YYForce is operating with zero debt overhang, enabling cash flow from operations to directly fund accretive growth initiatives.

Executive Commentary

"The global market narrative has reached an important turning point: long-term enterprise value is no longer defined by speculative AI concepts, but by concrete monetization, disciplined execution, and measurable return on investment," said Mike Fu, Founder, Chairman, and CEO of YYForce Inc.

"At YYForce, we have anchored our business model in real-world utility. By deploying task-oriented robotics and AI-driven scheduling across high-friction sectors like facility operations and hospitality, we are solving acute labor constraints for our enterprise partners while driving healthy gross margin expansion. Today, our operational momentum has brought us to a clear financial inflection point. With disciplined cost controls, robust recurring revenue, and an optimized balance sheet, YYForce is uniquely positioned to deliver sustainable profitability and enduring shareholder value."

Strategic Outlook

Looking ahead to fiscal 2027, YYForce will continue executing against three primary financial and strategic priorities:

Expanding High-Margin Enterprise Contracts: Deepening wallet share with existing regional hotel chains, transport hubs, and commercial complexes while onboarding new blue-chip institutional facilities.

Capital Efficiency & Cash Discipline: Maintaining strict operating expenditure control, preserving capital resources, and reinvesting operating cash flows into commercial opportunities with attractive potential returns.

Cross-Border Scalability: Leveraging its asset-light Workforce OS architecture to expand seamlessly into high-demand regional markets across Southeast Asia and the broader Asia-Pacific corridor.

About YYForce Inc.

YYForce Inc. (Nasdaq: YFOR) is an AI-enabled workforce management platform and integrated facility management (IFM) solutions provider. Combining intelligent labor-matching algorithms, proprietary Workforce OS operational software, and commercial service automation, YYForce transforms traditional staffing and facilities operations into automated, efficient, and data-driven workflows across Singapore, Malaysia, and international growth markets.

For more information, visit www.yyforce.ai.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the Company's current expectations, assumptions and information available to it as of the date of this release. Forward-looking statements can be identified by words such as "may," "will," "should," "expects," "anticipates," "plans," "intends," "believes," "estimates," "potential" or similar expressions, or the negative of these terms.

Forward-looking statements in this release include, but are not limited to, statements regarding the Company's future financial position, transition to profitability, cash flow generation, business strategy, and plans and objectives of management for future operations.

Forward-looking statements involve inherent risks and uncertainties. The forward-looking events discussed in this press release may not occur, actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about the Company and a number of factors. For a more detailed discussion of risk factors, please refer to the Company's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section of the Company's most recent annual report on Form 20-F, as amended. YYForce undertakes no obligation to update these statements except as required by applicable law.

Asia's water prices trail the 5.6% global rise, but Bishkek's jump 44.7%, finds Global Water Intelligence's Global Water Tariff Survey 2026

Sun, 08 Nov 2026 07:11:00 +0700

OXFORD, United Kingdom, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Water prices rose by an average of 2.0% in Southern Asia and 3.9% in East Asia/Pacific from 2025 to 2026, according to the Global Water Tariff Survey 2026 published by Global Water Intelligence (GWI).

GWI's largest ever survey covers prices in 1,069 cities across 189 countries, each priced the same way, so cities compare directly.

Which areas in Asia are raising water prices, and which are not?

Major cities including Tokyo, Beijing, Shanghai, New Delhi and Mumbai recorded no price change.

Central Asia has been hit hard by rising inflation due to its dependence on Russian trade routes affected by the Ukraine war, resulting in significant price rises of 44.7% in Bishkek, and 11.3% in Dushanbe.

Kazakhstan suspended utility price increases from October 2025 to April 2026, which also suspended block pricing, so combined prices fell by more than 20% in Almaty and Astana.

What do low water prices mean for the industry?

Cost recovery slips further away: current prices are already far below the estimated cost of providing water and wastewater services.

Breaking the pattern is possible: Malaysia's phased increases helped Indah Water Konsortium reach full operating cost recovery at the company level, though households still pay below cost and rural sewer expansion relies on government funding.

Affordability can turn slow rises into cuts: Kazakhstan reduced prices in the name of affordability, despite utilities clamouring for more revenue.

"It's clear that water price stagnation remains a persistent challenge across Asia. Yet Malaysia's recent progress on wastewater pricing offers an encouraging example of what sustained political commitment and public engagement can achieve in improving a utility's financial sustainability," said Charlotte Christian, Asia Editor at Global Water Intelligence.

The full survey, with prices for all 1,069 cities, is available to GWI Executive members: https://www.globalwaterintel.com/documents/the-global-water-tariff-survey-2026

Journalists can request city or country figures from tallulah.lutkin@globalwaterintel.com.

About Global Water Intelligence

Global Water Intelligence (GWI) is the leading publisher, market intelligence provider, and events organiser for the international water industry. For over 25 years, our journalists, analysts and events have helped clients make better strategic decisions across municipal and industrial water, technology, finance and engineering.

Beyond the exhibition floor: How robots, AI and networks are moving into the real world

Sat, 07 Nov 2026 07:29:00 +0700

Photo: American content creator Evan Kail poses for a photo with Unitree Robotics' GD01, a robot designed for emergency-response scenarios, at the summit.

Source: Tongxiang News Office

TONGXIANG, CHINA - Media OutReach Newswire - 6 November 2026 - A robot makes coffee. Others dance, patrol exhibition halls or trade mock blows in choreographed demonstrations. Scenes like these were on full display at this year's World Internet Conference Wuzhen Summit, which concluded on Nov 5 in the canal town of Wuzhen in eastern China.

Companies including Unitree Robotics, AgiBot and UBTECH used the "Light of Internet" Expo to show how far robots have come - and how close they may be to becoming part of everyday life.

But the expo was not only about spectacle. Many of the machines on display were being developed for tasks beyond the exhibition hall.

Evan Kail, an American content creator visiting the expo, paused in front of Unitree Robotics' GD01, a robot designed for emergency-response scenarios.

Kail said the machine captured the pace of China's progress in robotics. A few years ago, he said, Unitree robots were widely known for dancing in televised gala performances. Now, machines such as the GD01 pointed to more practical roles, including disaster response and search-and-rescue operations.

"The leaps of technology in China are very impressive," Kail said. "As climate change gets worse and worse, robots like this can make a difference if they are used to save lives."

The shift from eye-catching demonstrations to practical deployment was a recurring theme across the expo. But for robots to work reliably in crowded streets, disaster zones or industrial sites, the machine itself is only part of the equation. It also needs a network capable of carrying huge amounts of data, responding almost instantly and supporting AI decisions close to where they are needed.

At China Mobile's booth, a display highlighted one example: traffic-management robots deployed in Hangzhou, the eastern Chinese city that hosted the 2023 Asian Games.

Earlier this year, during a peak holiday travel period, Hangzhou deployed 15 robots at major intersections in tourist areas and downtown districts. Part of the Hangzhou Police Smart Mobility program, they can answer questions, guide pedestrians and vehicles, and warn people about traffic violations.

The deployment illustrates how connectivity is becoming central to the usefulness of intelligent machines. The current system uses 5G and 5G-Advanced connections and typically supports one camera on each robot. Future versions are expected to carry as many as six cameras and operate more independently within defined areas.

That will require latency below 10 milliseconds, uplink speeds above 100 Mbps and positioning accurate to within centimeters - demands that are helping shape the development of 6G.

The next generation of mobile technology is still years from commercial deployment. But its ambitions extend beyond faster download speeds. Industry plans for 6G include combining communications with sensing, edge computing and satellite connectivity.

"With 6G, networks will effectively gain radar-like eyes - the ability to sense and understand their surroundings - while AI will give them a brain," said Liang Zeshuai, a network optimization engineer at China Mobile Zhejiang.

In this vision, a base station would do more than transmit data. Equipped with radar-like sensing capabilities, it could detect a nearby drone, identify obstacles around a blind corner or provide an autonomous machine with a more detailed understanding of its surroundings. Edge computing, meanwhile, would allow AI tasks to be processed closer to the user, rather than sending every request to a distant data center.

That could matter especially in the kinds of situations Kail had in mind: complex and dangerous environments where time, connectivity and situational awareness can make a difference.

Satellite connectivity could provide another layer of resilience when typhoons, earthquakes or other disasters damage ground-based infrastructure. China Mobile has launched a direct-to-handset service using the Tiantong and BeiDou satellite systems.

For now, 5G-Advanced - a network that goes beyond 5G in speed and performance - has already been widely rolled out across China. In Wuzhen, a 5G-Advanced "super uplink" network with upload speeds of up to 1,000 Mbps covered the conference venue for the first time. Robot dogs used the network to patrol the area, transmitting 4K video and location data in real time.

The same combination of connectivity, computing and AI is moving into industries where the gains may be less visible than a dancing robot, but potentially more consequential.

China Mobile and Sinopharm, China's state-owned pharmaceutical and healthcare conglomerate, for example, have developed an AI-enabled cold-chain logistics platform that has reduced delivery costs by 65% and cut delivery times by 70%. The system is designed to help manage the transport of temperature-sensitive products, where delays or poor monitoring can lead to waste.

At Ningbo-Zhoushan Port, China Mobile has built what it describes as the world's largest 5G private network for port operations. Such networks can support real-time coordination among cranes, vehicles, cameras and control systems across a vast, fast-moving industrial site.

The company is also applying AI and connected systems to public safety and emergency management, including flood-control planning and drone inspections of buildings. The aim is not only to respond faster after an emergency, but to identify risks before they become crises.

At Wuzhen, the robots remained the most visible attraction. They made coffee, danced for visitors and posed for cameras. Yet the more consequential story was happening behind them - in the networks, computing systems and satellite links that could determine how quickly AI moves from a trade-show novelty into a tool for cities, industries and, potentially, lifesaving work.

The issuer is solely responsible for the content of this announcement.

Hashtags: #TongxiangNewsOffice

LEPAS L6 EV Impresses Global Elegant Driving Ambassadors on First-Ever LEPAS Global Journey of Elegant Driving

Sat, 07 Nov 2026 07:24:00 +0700

WUHU, China, Nov. 06, 2026 (GLOBE NEWSWIRE) -- During the inaugural LEPAS Global Elegant Lifestyle Week, 34 Elegant Driving Ambassadors from 15 countries joined the LEPAS L6 EV's first-ever LEPAS Global Journey of Elegant Driving.

Traveling nearly 700 kilometers from Shanghai to Wuhu via Tonglu, Qiandao Lake and She County, they experienced the vehicle's versatility and refined performance across urban roads, highways and mountain routes.

For ambassadors from Europe and Brazil, chassis performance and handling were key priorities. The winding roads around Qiandao Lake provided an ideal test. With its highly integrated 12-in-1 electric drive system and chassis tuned by a professional European team, the LEPAS L6 EV delivered smooth power and confident handling.

Ambassadors from Motor1, IG Carros and MSN praised the L6 EV's chassis, suspension, steering and braking, highlighting its comfortable ride and natural handling on narrow roads. An ambassador from the UK's Auto Express also commended its smooth acceleration and ample power when merging onto highways.

For users in South Africa and Latin America, music enhances the driving experience. An ambassador from South Africa's Navigating Media praised the LEPAS L6 EV's premium interior materials, craftsmanship and immersive sound from its SONY audio system.

In Southeast Asia, younger users place greater emphasis on affordability and intelligent features. Accordingly, ambassadors from the region focused on the L6 EV's new energy technology and smart cockpit. They praised the L6 EV's driving range and 20-minute charging from 30% to 80% SOC. Its all-scenario intelligent voice assistant, ADAS features, Automated Parking Assist (APA), Remote Parking Assist (RPA) and 540? Panoramic View also inspired confidence on challenging roads.

Beyond testing performance, the journey fostered dialogue on elegant mobility and lifestyle, reflecting the co-creation spirit of LEPAS Global Elegant Lifestyle Week. LEPAS will continue listening to global users and refining its products to deliver more comfortable, elegant mobility experiences.

About LEPAS

LEPAS is Chery Auto's Premium NEV brand, dedicated to creating elegant mobility experiences for users worldwide. Committed to becoming the Preferred Brand for Elegant Mobility Life, LEPAS brings together Leopard Aesthetics, Elegant Technology, and Exquisite Space - transforming elegance into a driving experience you can see, feel, and trust. Supported by a growing global dealer network of more than 500 sales and service outlets, LEPAS is expanding its international footprint through localized operations, delivering products and experiences tailored to users across global markets.

About Chery Auto

Founded in 1997, Chery Auto is a global automotive manufacturer specializing in vehicle development, intelligent technologies, and new energy solutions. The company operates in more than 130 countries and regions, supported by a strong international network of research, production, and strategic partnerships.

Chery Auto has remained China's No. 1 passenger vehicle exporter among Chinese brands for 23 consecutive years. Guided by its global philosophy of "In somewhere, For somewhere, Be somewhere," Chery Auto is committed to advancing sustainable mobility through continuous innovation and global collaboration.

Elering Partners with Image Soft to Safeguard Baltic Sea Subsea Energy Infrastructure with Advanced UNWAS Technology

Sat, 07 Nov 2026 07:16:00 +0700

TALLINN, Estonia and HELSINKI, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Elering, the Estonian national transmission system operator, has officially signed a landmark agreement with Finnish defence technology pioneer Image Soft to deliver its 3rd Generation UNWAS (Underwater Surveillance System) to protect critical underwater high-voltage direct current (HVDC) interconnect cables in the Baltic Sea.

As a forward-thinking TSO at the forefront of European energy security, Elering continues to lead the industry in proactive asset protection and critical underwater infrastructure (CUI) resilience. By deploying system like UNWAS, Elering sets a new standard for modern energy grid defense, demonstrating how infrastructure operators can effectively mitigate emerging threats in high-risk maritime environments.

Pioneering Security for Critical Subsea Infrastructure

Under this contract, Elering will secure its key underwater interconnect cables against sabotage, anchor dragging, and unauthorized interference. The 3rd Generation UNWAS system provides real-time coverage across hundreds of square kilometers of sea area, automatically detecting, tracking, and raising early-warning alerts the moment a potential threat approaches the critical infrastructure.

Utilizing ultra-sensitive, passive acoustic hydrophone-based sensors, UNWAS continuously monitors all underwater acoustic phenomena without itself emitting any detectable signals or interfering with surround sensitive sea life. The system is capable of picking up the faintest aquatic sounds-ranging from biological activity like barnacles to low-noise, closed-circuit divers or unmanned underwater vessels or devices -ensuring comprehensive maritime situational awareness.

While the deployment marks a major milestone in Baltic regional security, commercial terms, sensor locations, and specific operational details remain strictly confidential to safeguard system effectiveness and infrastructure integrity.

About Image Soft and the UNWAS System

Founded in Finland, Image Soft is a specialized defence technology provider renowned for its expertise in underwater acoustics, maritime surveillance, and naval simulation systems.

The company's flagship UNWAS (Underwater Surveillance System) is 3rd-generation passive sonar security framework designed specifically to protect ports, naval bases, offshore wind farms, and subsea pipelines and cables. By combining highly sensitive hydrophone arrays with advanced signal processing and automated target classification algorithms, UNWAS empowers security operators with actionable intelligence to counter covert underwater threats before harm occurs.

Executive Commentary

"Subsea electricity interconnections are vital to the security of supply in Estonia and the wider region. We must therefore identify potential threats early and respond quickly. Our cooperation with Image Soft gives us a clearer picture of activity around the cables and helps us prevent risks. This is a practical step towards strengthening the protection of our infrastructure and the resilience of the energy system."

- Reigo Kebja, Member of the Board/ Head of Asset Management, Elering

"Protecting subsea electricity infrastructure requires close cooperation and reliable situational awareness. We appreciate Elering's practical approach to strengthening the security of its interconnections. By combining Elering's knowledge of the energy system with Image Soft's underwater surveillance technology, we can help identify potential threats earlier and support a timely response."

- Matti Suuronen, Chief Executive Officer, Image Soft

Backed by Chery's Global NEV Ecosystem, LUXEED Delivers Multi-Scenario Intelligent Luxury Mobility

Sat, 07 Nov 2026 07:10:00 +0700

WUHU, China, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Amid the global transition toward sustainable energy and vehicle intelligence, Chery presented a series of core new energy technology advancements and smart mobility achievements at its Global Innovation Conference on October 20.

Following the conference, LUXEED held its Global Brand Launch on October 21, officially unveiling its flagship luxury MPV, LLounge, and SUV, Stormax. Both models come equipped with next-generation AI smart cabin technologies, elevating the automobile from a conventional mode of transport into an intuitive mobility partner. This launch marks a strategic shift in Chery's global expansion-evolving from vehicle exports to the global deployment of a unified new energy ecosystem and intelligent experience, opening a vital new growth trajectory for LUXEED.

As Chery Group's strategic global brand for smart luxury, LUXEED anchors its product experience around three core pillars: Extreme Driving Pleasure, Beyond-Class Enjoyment, and Ultimate Intelligence. Guided by its brand philosophy of "Intelligent Redefinition of Luxury and Driving Pleasure," LUXEED aims to redefine luxury mobility standards for high-net-worth individuals worldwide. Complementing this mobility ecosystem, Chery's embodied intelligence brand, AiMOGA, recently launched its first home companion robot, MOBO, which has officially opened for global pre-orders.

To address diverse mobility scenarios, LUXEED's twin flagships offer distinct luxury solutions. The LLounge embodies the spirit of "FLY HIGH," featuring second-row zero-gravity seats, an ultra-quiet executive cabin, and a class-leading minimum turning radius of 5.35 meters-transforming executive travel, family trips, and long-distance journeys into a mobile executive lounge. Meanwhile, the Stormax stands for "FLY FAST," delivering 0?100 km/h acceleration in 3.8 seconds, a top speed of 251 km/h, a dedicated BOOST mode, and precision dynamic handling, tailored for coastal drives and cross-city touring.

Leveraging Chery Group's proprietary new energy architecture, LUXEED models are specially tuned for diverse global operating environments-easily managing extreme heat and sandstorms in the Gulf Region as well as heavy rainfall and high humidity in Southeast Asia. Designed for global high-net-worth professionals, LUXEED delivers a full-scenario smart luxury mobility experience combining reliable performance, premium comfort, and seamless ecosystem synergy.

#LUXEED #Chery #LLounge #Stormax #AiMOGA #MOBO #SmartMobility #LuxuryEV #NewEnergyVehicles #AIAutonomousDriving #SmartCabin #EV #AutomotiveInnovation #GlobalExpansion

The Manufacturing Foundation Behind AiMOGA and LUXEED: How Chery's Capabilities Support Two Global Brands

Fri, 06 Nov 2026 21:02:00 +0700

WUHU, China, Nov. 06, 2026 (GLOBE NEWSWIRE) -- On October 21, LUXEED, Chery's intelligent luxury brand, made its global debut with two flagship models. During the same period, AiMOGA, Chery's embodied AI brand, announced that cumulative global commercial deliveries of its robots had surpassed 3,000 units, with operations spanning more than 60 countries and regions.

AiMOGA also opened global pre-orders for MOBO, its first home companion robot.

Although operating in different sectors, the two brands draw on the manufacturing expertise, engineering capabilities and global resources developed by Chery Group. Their progress illustrates how Chery is applying its established automotive capabilities to new areas of intelligent technology, from luxury mobility to robotics.

As Chery's intelligent luxury brand, LUXEED draws on the Group's global manufacturing network and R&D capabilities, applying automotive-grade engineering and quality-control standards across vehicle development and production.

Its development incorporates Chery's accumulated expertise in intelligent manufacturing and Vehicle Motion Control (VMC) systems. These capabilities support the engineering and production of LUXEED's two flagship models: the luxury MPV LLounge and performance SUV Stormax.

From manufacturing processes and vehicle validation to motion control and safety engineering, Chery's established automotive capabilities provide a foundation for LUXEED to deliver consistent product quality as it expands into international markets.

Chery's manufacturing capabilities also provide an important foundation for AiMOGA's commercial growth. Since entering the market, AiMOGA has recorded more than 3,000 cumulative global robot deliveries, with business operations established across more than 60 countries and regions.

This progress is supported by Chery's experience in automotive manufacturing, quality management and global supply-chain operations. By adapting established industrial processes and production expertise to robotics, AiMOGA can draw on capabilities developed through years of vehicle manufacturing.

According to Chery, AiMOGA achieves 100% supply-chain reuse with its automotive business and shares 70% of its R&D technologies. These figures illustrate the extent of the technological and industrial overlap between the two businesses, creating opportunities to apply proven automotive capabilities to the development and production of robots.

From LUXEED's intelligent luxury vehicles to AiMOGA's embodied AI products, Chery is extending its manufacturing and engineering expertise into different areas of intelligent technology.

The two brands have distinct products, users and market opportunities, but benefit from a common industrial foundation: automotive engineering experience, established manufacturing processes, supply-chain resources and global operational capabilities.

As both brands pursue international growth, this foundation provides Chery with a platform to develop and deliver intelligent products across an expanding range of markets and applications.

Physical AI Empowers Smart Mobility: LUXEED Builds a New Full-Scenario Intelligent Ecosystem

Fri, 06 Nov 2026 20:57:00 +0700

WUHU, China, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Earlier this year, Chery Automobile established a global strategic partnership with NVIDIA to conduct joint R&D across high-level driver assistance, in-cabin AI, and robotics, accelerating the industrial deployment of Physical AI.

As Physical AI rapidly transitions from virtual models to real-world applications, the automobile is being redefined into an intelligent entity capable of perception, comprehension, and decision-making. On October 21, at the LUXEED Global Brand Launch, the brand introduced its twin flagships-the LLounge MPV and the Stormax SUV. Both models feature state-of-the-art AI smart cabins and advanced intelligent driving technologies, elevating the vehicle from a traditional mode of transport to a truly intuitive mobility partner.

As a next-generation premium intelligent brand, LUXEED takes "Intelligent Redefinition of Luxury and Driving Pleasure" as its core philosophy, delivering groundbreaking smart driving and riding experiences. Powered by an industry-leading World Model for Autonomous Driving, the system integrates data from multi-modal sensors and has undergone tens of millions of iteration training cycles, equipping the vehicles with seamless navigate-on-autopilot capabilities and predictive road awareness.

To ensure stability and reliability for high-level autonomous driving, LUXEED is backed by the high-performance 8397 chip, multi-modal perception, and a human-like memory architecture. The smart cabin integrates eye-tracking, gesture recognition, and environmental sensing. This enables the vehicle not only to interpret complex traffic scenarios but also to perceive occupant needs, proactively adapting to individual preferences and reducing interaction friction-fulfilling premium users' demands for smooth, effortless intelligence.

Beyond in-vehicle AI upgrades, LUXEED is continuously pushing the boundaries of smart luxury amid this AI-driven global expansion. Chery's embodied intelligence brand, AiMOGA, has officially opened global pre-orders for its first home companion robot, MOBO, marking a steady expansion of the group's smart innovation footprint.

As the global premium market shifts from feature competition to experience-driven value, LUXEED moves beyond the traditional vehicle definition. Utilizing the entire vehicle as a mobile intelligent node and relying on Chery's global R&D capabilities, LUXEED delivers a human-centric, full-scenario smart luxury experience tailored for high-net-worth business professionals worldwide.

SiriusPoint Reports Third Quarter 2026 Results and Announces LPT on Remaining Run-Off Reserves

Fri, 06 Nov 2026 20:51:00 +0700

HAMILTON, Bermuda, Nov. 05, 2026 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. ("SiriusPoint" or the "Company") (NYSE:SPNT), a global specialty underwriter, today announced results for its third quarter ended September 30, 2026, and entered into a loss portfolio transfer (LPT) agreement to close the chapter on its legacy portfolio.

Third Quarter 2026 Highlights

Net income available to SiriusPoint common shareholders of $87 million, or $0.74 per diluted common share

Operating earnings per share increased 19% to $0.88

Return on equity of 15.4%, with operating return on equity of 17.6%

Core gross written premium increased 14%, driven by 20% growth in Insurance & Services

Core combined ratio of 90.1%

Book value per diluted common share (ex. AOCI) increased 4% from June 30, 2026 to $20.21

Balance sheet remains strong with BSCR estimate of 232%

Nine Months 2026 Highlights

Net income available to SiriusPoint common shareholders of $255 million, up 25% versus prior year

Diluted earnings per common share of $2.14, with operating earnings per share up 17% to $2.29

Return on equity of 15.1%, with operating return on equity of 15.8%

Insurance & Services gross written premium growth of 14%; continued discipline in Reinsurance with premiums decreasing 6%

Core combined ratio of 90.1% improved 1.3 points versus prior year

Book value per diluted common share (ex. AOCI) increased 12% from December 31, 2025 to $20.21

SiriusPoint's LPT agreement with RiverStone covers substantially all of the remaining run-off reserves and is supported by significant limit and strong collateral. The deal is expected to unlock over $200 million of capital currently supporting the run-off portfolio. The deal is subject to regulatory approval.

Scott Egan, Chief Executive Officer, said: "Our third quarter results represent continued strong performance, with our diversified, low-volatility portfolio again delivering on both growth and profitability. Our Insurance & Services segment grew by 20% and our core combined ratio was 90.1% both in the quarter and year to date. With an operating return on equity of 17.6% for the quarter and 15.8% year to date, the business continues to outperform against our 12-15% target.

"We continue to create value for our shareholders as our book value per share (ex. AOCI) grew by 4% in the quarter and 12% year to date. As we head into the final quarter, we believe our underwriting credentials and positive momentum position us well to close out the year with confidence. Our balance sheet and capital are very strong, and we have the agility to deploy capital where we see the best opportunities.

"We have also announced another important milestone in the quarter linked to our legacy run-off portfolio, agreeing a loss portfolio transfer with RiverStone. This will allow us to effectively close the door on this historical book of reserves, further simplifying our business and unlocking significant capital."

Key Financial Metrics

The following table shows certain key financial metrics for the three and nine months ended September 30, 2026 and 2025 and as of September 30, 2026 and December 31, 2025:

Three months ended							Nine months ended
	September 30, 2026			September 30, 2025				September 30, 2026			September 30, 2025
	($ in millions, except for ratios)
Combined ratio		86.5	%		85.9	%			87.6	%		87.8	%
Core combined ratio ⁽?⁾		90.1	%		89.1	%			90.1	%		91.4	%
Core underwriting income ⁽?⁾	$	75.9		$	69.6			$	201.8		$	165.7
Core net services income ⁽?⁾	$	11.9		$	10.1			$	30.2		$	37.7
Operating net income ⁽?⁾	$	103.2		$	87.4			$	272.6		$	231.1
Operating earnings per share ⁽?⁾	$	0.88		$	0.74			$	2.29		$	1.95
Annualized ROE		15.4	%		17.7	%			15.1	%		14.5	%
Annualized Operating ROE ⁽?⁾		17.6	%		18.3	%			15.8	%		16.5	%

	September 30, 2026		December 31, 2025
Book value per common share	$	19.37	$	19.40
Book value per diluted common share	$	19.05	$	18.61
Book value per diluted common share ex. AOCI ⁽?⁾	$	20.21	$	18.10
Tangible book value per diluted common share ⁽?⁾	$	17.30	$	17.62

(1) Core combined ratio, Core underwriting income, and Core net services income are non-GAAP financial measures. See definitions in "Non-GAAP Financial Measures" and reconciliations in "Segment Reporting." Operating net income, Operating earnings per share, Annualized Operating ROE, book value per diluted common share ex. AOCI and tangible book value per diluted common share are non-GAAP financial measures. See definitions and reconciliations in "Non-GAAP Financial Measures."

Third Quarter and Nine Months 2026 Summary

Consolidated underwriting income for the three months ended September 30, 2026 was $103.5 million compared to $91.4 million for the three months ended September 30, 2025. The improvement was primarily driven by lower attritional loss ratios and increased favorable prior year loss reserve development, slightly offset by higher expense ratios.

Consolidated underwriting income for the nine months ended September 30, 2026 was $254.7 million compared to $235.7 million for the nine months ended September 30, 2025. The improvement was primarily driven by a decrease in catastrophe losses as the prior period included losses from the California wildfires and increased favorable prior year loss reserve development, partially offset by higher expenses. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance.

Reportable Segments

The determination of our reportable segments is based on the manner in which management monitors the performance of our operations, which consist of two reportable segments - Insurance & Services and Reinsurance. Collectively, the sum of our two segments, Insurance & Services and Reinsurance, constitute our "Core" results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in "Segment Reporting." We believe it is useful to review Core results as they reflect how management views the business and reflects our decision to exit the run-off business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

In the fourth quarter of 2026, SiriusPoint plans to realign its reportable segments to reflect how management now views and manages the business. Over recent years, SiriusPoint has evolved into a specialty underwriter, and management increasingly evaluates performance and allocates capital across its specialty markets. Our external financial reporting will be aligned with that approach.

Under the new structure, SiriusPoint plans to report two segments. Accident & Health, which now has over $1 billion of premiums, will become a standalone segment, reflecting its distinct product, risk, earnings and capital characteristics. The remaining specialty businesses will be reported in a new Specialty P&C segment, which management evaluates on a combined basis, allocating capital and resources and assessing underwriting performance across the portfolio. These segments will replace our previous Insurance & Services and Reinsurance segments, and together they will continue to make up our Core results.

Three months ended September 30, 2026 and 2025

Core Premium Volume

Gross written premium increased by $119.0 million, or 13.7%, to $990.6 million for the three months ended September 30, 2026 compared to $871.6 million for the three months ended September 30, 2025. Net written premium increased by $13.8 million, or 2.1%, to $678.7 million for the three months ended September 30, 2026 compared to $664.9 million for the three months ended September 30, 2025. Net earned premium increased by $121.3 million, or 18.9%, to $764.8 million for the three months ended September 30, 2026 compared to $643.5 million for the three months ended September 30, 2025. The increases in written premium were driven by our Insurance & Services segment, including growth in Surety business as well as an increase in our estimated premium for Professional Liability business, slightly offset by the exit of an International A&H program. The increase in net earned premium was primarily related to increases in our estimate of the earned premium in Professional Liability and A&H businesses. The Professional Liability and A&H premium estimate changes were largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income.

Core Underwriting Results

Core results for the three months ended September 30, 2026 included income of $87.8 million compared to $79.7 million for the three months ended September 30, 2025. Income for the three months ended September 30, 2026 consists of underwriting income of $75.9 million (90.1% combined ratio) and net services income of $11.9 million, compared to underwriting income of $69.6 million (89.1% combined ratio) and net services income of $10.1 million for the three months ended September 30, 2025. The improvement in underwriting income was primarily driven by lower attritional loss ratios and increased favorable prior year loss reserve development, slightly offset by higher expense ratios. For the three months ended September 30, 2026, favorable prior year loss reserve development was $18.3 million compared to $9.1 million for the three months ended September 30, 2025, primarily driven by favorable development on Property and A&H business.

The increase in net services income was due to growth in the IMG travel business and the acquisition of Assist America, partially offset by the deconsolidation of Armada. Service margin, which is calculated as Net service fee income as a percentage of services revenues, increased to 19.7% for the three months ended September 30, 2026 from 16.3% for the three months ended September 30, 2025, when adjusted to exclude Armada, driven by the acquisition of Assist America.

Nine months ended September 30, 2026 and 2025

Core Premium Volume

Gross written premium increased by $184.3 million, or 6.6%, to $2,975.9 million for the nine months ended September 30, 2026 compared to $2,791.6 million for the nine months ended September 30, 2025. Net written premium decreased by $31.7 million, or 1.5%, to $2,085.0 million for the nine months ended September 30, 2026 compared to $2,116.7 million for the nine months ended September 30, 2025. Net earned premium increased by $127.0 million, or 6.6%, to $2,041.9 million for the nine months ended September 30, 2026 compared to $1,914.9 million for the nine months ended September 30, 2025. The increases in gross written premium and net earned premium were driven by our Insurance & Services segment, primarily driven by an increase in premium estimates on Professional Liability and A&H businesses, new program growth, mainly in General Liability, as well as continued organic growth in existing programs and growth in A&H. These increases were partially offset by decreases in our Reinsurance segment, mainly in Casualty, Property Catastrophe, and Other Specialties. The Professional Liability and A&H premium estimate changes were largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income. The decrease in net written premium was primarily driven by the decreases in our Reinsurance segment and the ceded premium related to the inception of an aggregate reinsurance program in 2026.

Core Underwriting Results

Core results for the nine months ended September 30, 2026 included income of $232.0 million compared to $203.4 million for the nine months ended September 30, 2025. Income for the nine months ended September 30, 2026 consists of underwriting income of $201.8 million (90.1% combined ratio) and net services income of $30.2 million, compared to underwriting income of $165.7 million (91.4% combined ratio) and net services income of $37.7 million for the nine months ended September 30, 2025. The improvement in net underwriting results was primarily driven by decreased catastrophe losses, partially offset by higher acquisition costs and other underwriting expense. Catastrophe losses were $6.7 million, or 0.3 percentage points on the combined ratio, for the nine months ended September 30, 2026, compared to $67.4 million, or 3.5 percentage points on the combined ratio, for the nine months ended September 30, 2025, primarily driven by the California wildfires in the prior period. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance.

Insurance & Services Segment

Three months ended September 30, 2026 and 2025

Insurance & Services gross written premium were $673.0 million for the three months ended September 30, 2026, an increase of $111.0 million, or 19.8%, compared to the three months ended September 30, 2025, primarily driven by growth in Surety business as well as an increase in premium estimate on Professional Liability business, slightly offset by the exit of an International A&H program. The Professional Liability premium estimate change was largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income.

Insurance & Services generated income of $44.9 million for the three months ended September 30, 2026, compared to $47.8 million for the three months ended September 30, 2025. Income for the three months ended September 30, 2026 consists of underwriting income of $33.0 million (92.8% combined ratio) and net services income of $11.9 million, compared to underwriting income of $37.7 million (90.1% combined ratio) and net services income of $10.1 million for the three months ended September 30, 2025. The decrease in underwriting income was primarily a result of higher acquisition and other underwriting expense ratios, slightly offset by lower attritional loss ratios.

Nine months ended September 30, 2026 and 2025

Insurance & Services gross written premium were $2,002.2 million for the nine months ended September 30, 2026, an increase of $244.7 million, or 13.9%, for the nine months September 30, 2026 compared to the nine months ended September 30, 2025, primarily driven by an increase in premium estimate on Professional Liability business, Surety and new program growth, mainly in General Liability, as well as continued organic growth in existing programs and growth in North America A&H. The Professional Liability premium estimate change was largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income.

Insurance & Services generated income of $128.7 million for the nine months ended September 30, 2026, compared to $135.0 million for the nine months ended September 30, 2025. Income for the nine months ended September 30, 2026 consists of underwriting income of $98.5 million (92.0% combined ratio) and net services income of $30.2 million, compared to underwriting income of $97.3 million (91.1% combined ratio) and net services income of $37.7 million for the nine months ended September 30, 2025. The improvement in underwriting income was primarily driven by increased favorable prior year loss reserve development, partially offset by increased expenses. For the nine months ended September 30, 2026, favorable prior year loss reserve development was $40.3 million compared to $21.7 million for the nine months ended September 30, 2025, primarily driven by favorable development in A&H. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance.

Reinsurance Segment

Three months ended September 30, 2026 and 2025

Reinsurance gross written premium were $317.6 million for the three months ended September 30, 2026, an increase of $8.0 million, or 2.6%, compared to the three months ended September 30, 2025, primarily driven by increases in certain Other Specialties lines, specifically Property and Marine & Energy.

Reinsurance generated underwriting income of $42.9 million (86.0% combined ratio) for the three months ended September 30, 2026, compared to $31.9 million (87.9% combined ratio) for the three months ended September 30, 2025. The increase in underwriting income for the three months ended September 30, 2026 compared to the three months ended September 30, 2025 was primarily driven by increased favorable prior year reserve development in Property and Energy.

Nine months ended September 30, 2026 and 2025

Reinsurance gross written premium were $973.7 million for the nine months ended September 30, 2026, a decrease of $60.4 million, or 5.8%, compared to the nine months ended September 30, 2025, primarily driven by deliberate reductions in Casualty, rate and exposure reductions in Property Catastrophe, and reductions in Other Specialties.

Reinsurance generated underwriting income of $103.3 million (87.4% combined ratio) for the nine months ended September 30, 2026, compared to $68.4 million (91.7% combined ratio) for the nine months ended September 30, 2025. The increase in underwriting income was primarily driven by decreased catastrophe losses, as the nine months ended September 30, 2025 included losses of $62.6 million, or 7.6 percentage points on the combined ratio, primarily from the California wildfires. This was partially offset by lower favorable prior year loss reserve development of $26.9 million for the nine months ended September 30, 2026, compared to $35.5 million for the nine months ended September 30, 2025, mainly from reserve releases in Property relating to prior year's catastrophe events.

Investments

Three months ended September 30, 2026 and 2025

Net investment income decreased to $65.9 million for the three months ended September 30, 2026 compared to $66.5 million for the three months ended September 30, 2025 driven by lower yields on cash and short-term investments, as well as portfolio repositioning. Net investment gains (losses) decreased to $3.3 million for the three months ended September 30, 2026 compared to $6.2 million for the three months ended September 30, 2025. The decrease was primarily related to realized losses on sales of TPOC and other AFS debt securities, slightly offset by higher gains on sales of other long-term investments.

Nine months ended September 30, 2026 and 2025

Net investment income decreased to $197.8 million for the nine months ended September 30, 2026 compared to $205.9 million for the nine months ended September 30, 2025 driven by lower yields on cash and short-term investments, as well as portfolio repositioning. Net investment gains (losses) increased to $22.6 million for the nine months ended September 30, 2026 compared to $6.6 million for the nine months ended September 30, 2025 primarily due to gains from fair value changes in the Company's investments managed by related parties, which are included in Other long-term investments, partially offset by the reversal of inception to date unrealized gains.

Webcast Details

The Company will hold a webcast to discuss its third quarter 2026 results at 08:30 a.m. Eastern Time on November 6, 2026. The webcast of the conference call will be available over the Internet from the Company's website at www.siriuspt.com under the "Investor Relations" section. Participants should follow the instructions provided on the website to download and install any necessary audio applications. The conference call will be available by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). Participants should ask for the SiriusPoint Ltd. third quarter 2026 earnings call.

The online replay will be available on the Company's website immediately following the call at www.siriuspt.com under the "Investor Relations" section.

Safe Harbor Statement Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "intends," "seeks," "anticipates," "aims," "plans," "targets," "estimates," "expects," "assumes," "continues," "guidance," "should," "could," "will," "may" and the negative of these or similar terms and phrases. These risks and uncertainties include, but are not limited to, the "Risk Factors" described in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission.

All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Non-GAAP Financial Measures and Other Financial Metrics

In presenting SiriusPoint's results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States ("GAAP"). SiriusPoint's management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint's financial performance, identifying trends in our results, and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, book value per diluted common share excluding accumulated other comprehensive income (loss) ("AOCI"), tangible book value per diluted common share, Operating net income, Core Operating net income, Operating earnings per share, Core Operating earnings per share, Operating ROE and Core Operating ROE are non-GAAP financial measures. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.

About the Company

SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators. With approximately $3.0 billion total capital, SiriusPoint's operating companies have a financial strength rating of A from AM Best, S&P and Fitch, and A3 from Moody's. For more information, please visit www.siriuspt.com.

TekniPlex Healthcare to Showcase Integrated MedTech CDMO Capabilities at COMPAMED 2026

Fri, 06 Nov 2026 20:48:00 +0700

Company to highlight solutions spanning advanced materials, precision components, and finished medical devices

Wayne, PA, Nov. 05, 2026 (GLOBE NEWSWIRE) -- TekniPlex Healthcare, a global leader in advanced materials science solutions for healthcare applications, will showcase its integrated contract development and manufacturing organization (CDMO) capabilities at COMPAMED 2026, taking place November 16-19 in D?sseldorf, Germany.

At Hall 8b, Booth N02, the company will highlight how its expertise in materials science, precision components, and medical device manufacturing supports medical technology OEMs from initial development through commercial-scale production.

Under the theme "Engineered for the Critical Path," TekniPlex Healthcare will emphasize its comprehensive MedTech CDMO and Interventional Device Solutions portfolio, connecting custom material formulations, precision extrusion, braiding, molding, and catheter manufacturing within an integrated approach.

As medical devices become increasingly complex, manufacturers face challenges related to material selection, component performance, supplier coordination, and production scalability. By bringing together complementary technical capabilities, TekniPlex Healthcare helps OEMs streamline development, reduce supplier handoffs, and strengthen supply chain resilience.

At COMPAMED 2026, TekniPlex Healthcare will highlight its integrated capabilities spanning custom compounds, precision-extruded single- and multi-lumen tubing, braided catheter shafts, molded components, and finished catheters. Its portfolio also includes Nitinol components, implant device assembly, and design-for-manufacturability support for complex medical device applications.

"Material and manufacturability decisions drive device performance and scale", said Brian Clarke, Vice President & General Manager at TekniPlex Healthcare. "Our technical teams work with OEM design, engineering and manufacturing groups early in development, then support qualification, transfer and production continuity."

Beyond its MedTech CDMO offering, TekniPlex Healthcare will showcase complementary barrier protection and packaging solutions for pharmaceutical and consumer healthcare applications. These include sealing solutions, liners, gaskets, packaging components, and LamePlast containers, reflecting the company's broader expertise in healthcare materials and product protection.

With its global manufacturing capabilities and application-specific technical expertise, TekniPlex Healthcare supports customers throughout development, qualification, manufacturing transfer, and commercial production, helping address regional supply requirements and long-term production continuity.

About TekniPlex Healthcare

TekniPlex Healthcare utilizes advanced materials science expertise and technologies to develop and deliver critical solutions for medical and diagnostic devices, drug delivery systems and sterile barrier healthcare packaging applications. With a global reach, the division's deep understanding of the greater pharmaceuticals and medical landscape helps it produce exemplary barrier properties for drugs and precision medical devices for interventional and therapeutic procedures.

In the medical device niche, TekniPlex Healthcare embodies a comprehensive CDMO partner capable of servicing every stage of the product life cycle, from design and development through component manufacturing and final assembly. Throughout its broad purview, the division's ever-evolving portfolio helps meet demands for high-leverage medicines and mission-critical healthcare products that benefit care providers and patients. For more information visit www.tekni-plex.com/healthcare.

Doxis Named a Leader in the IDC MarketScape: Worldwide Intelligent Content Services 2026 Vendor Assessment

Fri, 06 Nov 2026 20:42:00 +0700

Doxis, The Document Intelligence Company, today announced it has been named a Leader in the IDC MarketScape: Worldwide Intelligent Content Services 2026 Vendor Assessment

*IDC MarketScape notes Doxis' depth of platform, deployment speed, as well as architecture and interoperability as strengths.

*"For organizations looking to consolidate point solutions and address the full content life cycle - ECM, CCM, and IDP - within a single platform, Doxis is a good fit," the IDC MarketScape notes.

*IDC MarketScape evaluated 17 intelligent content services vendors on their capabilities and strategies.

BONN, Germany, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Doxis, The Document Intelligence Company, today announced it has been named a Leader in the IDC MarketScape: Worldwide Intelligent Content Services 2026 Vendor Assessment*.

We believe the IDC MarketScape arrives at a pivotal time as enterprises are moving AI out of the pilot stage and embedding it into core content-intensive business processes. "Content earns the label 'intelligent' when it stops being merely stored and retrieved and becomes the context layer that AI and automation depend on to reason, retrieve, and act reliably," says Amy Machado, Research Director, Content and Knowledge Discovery Strategies, IDC.

As we see it, Doxis is recognized as a Leader because it provides that context layer for AI, empowering enterprise customers to securely manage and act on high volumes of documents from capture through archiving on one unified AI-first platform, instead of across separate systems.

"AI pilots can demonstrate what's possible, but running AI across billions of business documents in a secure, repeatable and trustworthy way is a different challenge," says Dr. John Bates, CEO of Doxis. He continues: "It demands a scalable architecture, reliable processes, deep business context and governance that works at every step. We've built Doxis to bring those capabilities together in one trusted Document Intelligence platform. We're proud to be recognized as a Leader in the IDC MarketScape as more enterprises seek to bolster productivity and efficiency through Document Intelligence."

Read the IDC MarketScape excerpt about Doxis here.

Platform depth, interoperability and fast time-to-value of Doxis

From our view, Doxis was named a Leader based on strengths in the following areas:

Depth of platform: Doxis is an AI-first platform that unites enterprise content management (ECM), process automation, intelligent document processing (IDP), and intelligent communications to deliver document intelligence across the entire document lifecycle.

Rapid time-to-value: Enterprise customers are typically able to deploy Doxis in weeks rather than months for a quick time-to-value.

Architecture and interoperability: Doxis offers deep integrations with leading systems, including SAP S/4HANA, SAP SuccessFactors, Salesforce, Microsoft 365, ServiceNow and Workday, and provides more than 150 third-party connectors.

IDC MarketScape recognition follows continued rapid growth period for Doxis

Doxis' recognition as a Leader in the IDC MarketScape follows a period of platform investment and rapid business growth. Over the past 12 months, Doxis acquired customer communication and experience management specialist Metaforce and launched Doxis AI.dp to enhance its intelligent document processing capabilities. Doxis also significantly expanded its portfolio of SAP certifications and solutions for document-centric SAP processes to help customers accelerate their Clean Core strategy - most recently to automate procurement and invoice processing across SAP ERP and SAP S/4HANA environments.

*IDC MarketScape: Worldwide Intelligent Content Services 2026 Vendor Assessment, Amy Machado, IDC #US54137426

Axi opens up pre-IPO trading opportunities on OpenAI and Anthropic

Fri, 06 Nov 2026 20:38:00 +0700

New perpetual futures contracts give traders access to price movements linked to two of the world's most prominent artificial intelligence companies ahead of their anticipated public market debuts

SYDNEY, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Axi, a global online FX and CFD broker, has introduced pre-IPO perpetual futures contracts linked to OpenAI and Anthropic, giving traders the opportunity to take positions on the price movements of two of the world's most closely watched artificial intelligence companies before their anticipated stock market listings.

The launch comes as the race to bring leading AI companies to the public markets gathers momentum. Anthropic, the company behind AI assistant Claude, filed for an initial public offering (IPO) on Oct. 26 2026, with plans to list on the Nasdaq under the ticker symbol ANT. Meanwhile, OpenAI, the developer of ChatGPT, has also been pursuing a potential public listing, with its longer-term IPO plans attracting significant market attention.

As anticipation builds around the future valuations of both companies, Axi's new offering provides an alternative way for traders to gain exposure to their evolving market valuations without waiting for a traditional stock market listing.

Through the new contracts, traders can take either long or short positions, allowing them to speculate on potential upward or downward price movements. The perpetual futures are available to trade 24 hours a day, seven days a week, including weekends, offering flexibility beyond conventional exchange trading hours.

The contracts also provide access to leverage of up to 25:1, enabling traders to take positions with a smaller initial margin relative to their overall market exposure. As perpetual futures, the contracts do not require traders to own shares in either company or hold an underlying equity position.

The introduction of OpenAI and Anthropic contracts further expands the range of opportunities available through Axi, reflecting the growing intersection between financial markets, emerging technologies and the global AI industry.

About Axi

Axi is a global online trading broker providing retail and professional traders with access to forex, stocks, indices, commodities. Through its trading platforms, educational resources, and market analysis tools, Axi helps traders navigate global financial markets with confidence.

Promoted by AxiTrader LLC. Trading carries a high risk of investment loss. This content may not be available in your region. Not intended as investment advice.

The Metals Company Announces Third Quarter 2026 Corporate Update Conference Call for Thursday, November 12, 2026

Fri, 06 Nov 2026 20:33:00 +0700

NEW YORK, Nov. 05, 2026 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) ("TMC" or the "Company"), a leading developer of the world's largest estimated undeveloped resource of critical metals essential to energy, defense, manufacturing and infrastructure, today announced that it will host a conference call on Thursday, November 12, 2026, to provide an update on third quarter 2026 financial results and recent corporate developments.

Third Quarter 2026 Conference Call Details

Date: Thursday, November 12, 2026

Time: 4:30 p.m. ET

Audio-only Dial-in: Register Here

Virtual webcast with slides: Register Here

The virtual webcast will be available for replay in the 'Investors' tab of the Company's website under 'Investors' > 'Media' > 'Events and Presentations', approximately two hours after the event.

About The Metals Company

The Metals Company is a developer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for energy, defense, manufacturing and infrastructure with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information is available at www.metals.co.

Contacts

Media | media@metals.co

Investors | investors@metals.co

Physical AI and Manufacturing Company Nemi to Go Public at a $400 Million Pre-Money Equity Value Through Business Combination with BHAV Acquisition Corp

Fri, 06 Nov 2026 19:29:00 +0700

Nemi Is Developing its Large Manufacturing Model, an AI-Powered Platform Designed to Automate Product Design, Engineering and Manufacturing End-to-End While Reducing Costs and Lead Times

Nemi Operates 300,000+ Square Feet of Manufacturing Operations, Serving Over 50 Enterprise Customers Across Aerospace, Defense and Automotive Markets Worldwide

STAFFORD, Texas and PISCATAWAY, N.J., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Nemi Corp. ("Nemi" or the "Company"), a Physical AI and Manufacturing-as-a-Service company building the Large Manufacturing Model ("LMM"), and BHAV Acquisition Corp (Nasdaq: BHAV) ("BHAV"), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive business combination agreement (the "Business Combination Agreement", and the transaction, the "Business Combination").

The Business Combination is expected to close in the first quarter of 2027, subject to approval by BHAV's and Nemi's shareholders, regulatory approvals and other customary closing conditions. Following completion of the proposed Business Combination, Nemi will be the listed parent company and expects its Class A common stock to trade on The Nasdaq Stock Market under the ticker symbol "NEMI".

A Manufacturer First, Building AI Where Parts Are Made

Nemi operates more than 300,000 square feet of manufacturing space in India. The Company makes precision metal parts, tooling, electronics, batteries, motors, plastics and complex assemblies, and holds AS9100D and ISO 9001 certifications. Nemi sells this capacity to enterprise customers as Manufacturing-as-a-Service ("MaaS") and also operates an electric-vehicle business. In FY2025, Nemi's MaaS business grew revenue 38% year-over-year with gross margins of 32.5%.

The LMM is a comprehensive stack for automating all aspects of hardware manufacturing: Anvil for design and engineering, Orion for factory operations and robotics, and Atlas for commercial and after-sales work.

Nemi is led by Founder and Chief Executive Officer Anirudh Ravi Narayanan, who brings extensive experience across aerospace and defense engineering, advanced manufacturing and business strategy. Prior to founding Nemi, Mr. Narayanan held roles at McKinsey & Company, where he worked in its Digital and Industrial practices, and previously held engineering positions in the aerospace and defense electronics industry. He holds an MBA from the Yale School of Management and an engineering degree from Rose-Hulman Institute of Technology.

Engineering Today, the Factory Floor Next

Anvil turns an engineering brief into CAD, electronics design, simulation and a released bill of materials. On more than 35 customer and internal programs over the past 12 months, Nemi measured design work finishing about three times faster with about one-third of the engineers, compared with its pre-LMM baselines for similar work. Together, that is roughly nine times the design output per engineer.

Results on recent programs, compared with management's estimates of typical industry timelines:

A full electric-vehicle platform for Nemi's own EV business, taken from concept to production-ready in 9 months against a typical 18-month period.

A complete drone powertrain (battery, motor, controller and ground unit) for a Tier-1 defense manufacturer, delivered in 4 months against a typical 16-month period, at about 20% lower parts cost.

A production line for a consumer-appliance maker stood up in 5 weeks with no tooling cost.

A flight-critical aerospace part cut from 7 hours to 3 hours per job while holding a 10-to-15 micron tolerance.

Nemi's first market is high-product mix, low-volume programs in aerospace, defense and other demanding industrial sectors, where engineering is a large share of cost. Next, the Company plans to automate its factory floor. Its digital-twin ERP is already deployed, factory orchestration is in pilot, and low-cost robotics are in development. Nemi plans to implement and stress test each step in its own plants before using it in manufacturers it acquires.

Growing Commercial Momentum Across High-Value Manufacturing Markets

As of October 14, 2026, Nemi had more than $14 million of open purchase orders from 16 customers, subject to the realization of certain contractual milestones. Current customers have also signed non-binding letters of intent ("LOIs") with an indicative value of over $100 million of revenue for Nemi through 2028.

Nemi serves more than 50 enterprise customers across its manufacturing and electric-vehicle businesses. Its customers include defense, aerospace and space organizations in India, directly or through partners, as well as automotive manufacturers. Nemi's existing shareholders include Musashi Seimitsu Industry Co., Ltd., a listed Japanese automotive components maker.

In 2025, consolidated gross margin rose to 17.7% from 3.1% in 2024.

Growth Plan and Operating Target

Nemi plans to scale by adding factory capacity for existing customer programs and by acquiring traditional manufacturers, then deploying the LMM in them. Nemi has a robust pipeline of prospective targets, though no definitive agreements have been signed to date.

Management is targeting approximately $120 million of operating annualized revenue run-rate ("Operating ARR") for the quarter ending twelve months after closing, up from approximately $20 million expected at closing. The target reflects management's planned manufacturing capacity expansion, anticipated customer demand and contributions from prospective acquisitions.

"We believe Physical AI is going to bring about the next industrial revolution," said Anirudh Ravi Narayanan, Chief Executive Officer of Nemi. "Our goal, stated simply, is to do for hardware what LLMs did for software. Hardware is hard. Its data is mostly proprietary and closed, so whoever intends to automate it has to be inside the factory. That is why we are a manufacturer first: each part we design and build becomes data for the next one. To gather data fast, we have to grow fast. Every manufacturing company will eventually run on AI. We want to help them get there."

Transaction Overview

The Business Combination Agreement sets Nemi's pre-money equity value at $400 million, or 40,000,000 shares at $10.00 per share. That fixed number covers all shares issued for Nemi's existing equity, including outstanding equity awards and the securities issued in Nemi's pre-closing financing. The consideration is entirely in stock, and there is no earnout.

Nemi is targeting to raise $50 million in a private investment in public equity (the "PIPE") at $10.00 per share. Assuming the full amount of the PIPE is raised and no redemptions by BHAV's public shareholders, the proposed Business Combination is expected to provide approximately $142.5 million of cash at closing from BHAV's $100 million trust account and the PIPE, after estimated expenses.

The proposed Business Combination includes a minimum available closing cash condition of $30 million, which the parties may waive; available cash includes funds held in BHAV's trust account after redemptions and the proceeds of the PIPE and the pre-closing financing.

Nemi intends to use the proceeds from the proposed Business Combination to expand factory capacity, acquire manufacturers that already serve its markets, continue developing the LMM and Phase 2 robotics toward greater levels of automation and fund working capital.

The boards of directors of Nemi and BHAV have unanimously approved the transaction, and BHAV's board has received a fairness opinion. BHAV's sponsor has agreed to vote its shares in favor of the proposed Business Combination and not to redeem them. Closing is expected in the first quarter of 2027, subject to approval by BHAV's and Nemi's shareholders, effectiveness of a registration statement on Form S-4, regulatory approvals and other customary conditions. Additional information about the proposed Business Combination, including a copy of the Business Combination Agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by BHAV with the U.S. Securities and Exchange Commission (the "SEC") and available at www.sec.gov.

BHAV's Chief Executive Officer and Director Giri Devanur added, "Nemi is building Physical AI from inside the factory. With real manufacturing operations, enterprise customers and proprietary data, we believe Nemi has the foundation to transform how products are designed and manufactured."

Advisors

Cantor Fitzgerald & Co. is serving as sole placement agent and capital markets advisor to Nemi.

Maxim Group LLC is serving as capital markets advisor to BHAV.

Loeb & Loeb LLP is serving as legal counsel to Nemi.

Mitchell Silberberg & Knupp LLP is serving as legal counsel to BHAV.

About Nemi Corp.

Nemi is a Physical AI and Manufacturing-as-a-Service company focused on transforming how physical products are designed, engineered and manufactured. Through its proprietary Large Manufacturing Model, Nemi is developing an integrated AI platform designed to automate the product lifecycle, from initial concept and engineering through manufacturing, quality control and delivery. The Company operates manufacturing facilities serving enterprise customers across the aerospace, defense, automotive and industrial sectors, leveraging its own operations to develop, deploy and continuously improve its AI capabilities. By combining real-world manufacturing expertise with AI-driven automation, Nemi aims to reduce production costs, accelerate development timelines and improve manufacturing efficiency at scale. For more information, visit https://nemilmm.com/.

About BHAV Acquisition Corp

BHAV Acquisition Corp (Nasdaq: BHAV, BHAVU, BHAVR) is a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. BHAV completed its $100 million initial public offering in March 2026. It is led by Giri Devanur, its Chief Executive Officer and a director, who is also the sole managing member of its sponsor, BHAV Partners LLC. Mr. Devanur has led three companies to Nasdaq listings: AMERI Holdings (2017), reAlpha Tech Corp. (2023) and BHAV (2026). For more information, visit https://bhavspac.com/.

Notes on Metrics and Other Disclosures

Customer counts, LOIs, management pipeline, program counts, design-productivity measurements, program results and Operating ARR are based on unaudited management records and have not been independently verified. LOIs are non-binding and may not become orders or revenue. Typical industry timelines are management's estimates for comparable programs. MaaS growth and margin come from the financial statements of the MaaS subsidiary used in the audited consolidation and include sales to other Nemi companies. Amounts from the audited U.S. GAAP financial statements are shown in U.S. dollars as presented in those statements; other U.S. dollar amounts are converted from Indian rupees at 95.98 per US$1.00 (FBIL reference rate, September 30, 2026).

LMM tools (Anvil, Orion and Atlas) use the third-party AI models best suited to their respective tasks. Nemi does not develop its own foundation models; the LMM is named by analogy to large language models.

Open purchase orders are orders received but not yet delivered and invoiced, at October 14, 2026, net of invoicing to September 30, 2026, as disclosed in Note 2(d) to the audited consolidated financial statements (the customer count is from Nemi's purchase-order registers); they include blanket purchase orders from a fleet customer, against which releases are issued. The LOIs are non-binding; their stated values are indicative potential sales through 2028.

The audited financial information is taken from the consolidated financial statements of BNC Motors Pvt. Ltd. ("BNC Motors") and its subsidiaries, Nemi's Indian operating group (which was Nemi's sole operating group during those periods), for the years ended December 31, 2025 and 2024, prepared under U.S. GAAP.

Operating ARR is the latest quarter's external revenue multiplied by 4, excluding intercompany revenue; it is a run-rate, not contracted revenue or a U.S. GAAP measure. Operating ARR for the quarter ended September 30, 2026 was approximately $3.7 million, based on provisional, unaudited accounts. The approximately $20 million expected at closing assumes $50 million of pre-closing financing to add the working capital and capacity needed to execute the demand pipeline. The $120 million target assumes approximately $100 million of funding before and at closing, planned capacity additions to ramp up to customer demand and about $30 million of Operating ARR from acquisitions that have not yet been committed. Both the closing estimate and the target are management estimates, not forecasts.

On closing, shares held by Nemi's founder and his affiliates, and BHAV sponsor shares allocated to Giri Devanur, will become Nemi Corp. Class B common stock, which carries ten votes per share, has the same economic rights as Class A common stock and converts into Class A common stock on a one-for-one basis. All other Nemi shareholders, and BHAV shareholders who do not redeem, will receive Class A common stock. Closing is also subject to a minimum available closing cash condition of $30 million, which the parties may waive; available cash includes the funds held in BHAV's trust account after redemptions and the proceeds of the PIPE and the pre-closing financing.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements regarding the Business Combination between Nemi and BHAV. The safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995 is not available for forward-looking statements made in connection with the Business Combination, and neither Nemi nor BHAV relies on it. Forward-looking statements include statements about the expected timing, structure and completion of the Business Combination; the satisfaction of closing conditions; the listing of Nemi Corp.'s Class A common stock on Nasdaq; the cash expected to be available at closing, including after redemptions; the expected use of proceeds; Nemi's plans, strategy and technology and product roadmap, including the LMM and Phase 2 robotics; Nemi's planned capacity expansion and acquisitions; the PIPE financing or any other financing; Nemi's estimate of Operating ARR at closing and its target of $120 million of Operating ARR for the quarter ending twelve months after closing, and the funding, capacity and acquisition assumptions underlying them; the expected composition of Nemi Corp.'s board and management; and the expected benefits of the Business Combination. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "target," "will" and "would," and similar expressions, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking.

These statements are based on the current expectations of Nemi's and BHAV's management and are not predictions of actual performance. They are subject to risks and uncertainties, many beyond the parties' control, that could cause actual results to differ materially, including: the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement, including if the Business Combination is not completed by June 20, 2027 (or any extended date); the failure to obtain the approval of BHAV's shareholders or Nemi's shareholders, required regulatory approvals or to satisfy other closing conditions, including the effectiveness of the registration statement and the $30 million minimum available closing cash condition; the level of redemptions by BHAV's public shareholders; Nemi's ability to complete the PIPE financing or obtain other financing before or after closing on acceptable terms, or at all; the conditions that raised substantial doubt about the ability of BNC Motors and its subsidiaries to continue as a going concern, a doubt that management concluded its plans alleviate, as described in their audited consolidated financial statements; the completion of the remaining steps of Nemi's reorganization of BNC Motors, including Indian regulatory filings, and Nemi's ability to acquire the BNC Motors shares it does not hold; the interests of BHAV's sponsor, directors and officers in the Business Combination, which may differ from those of BHAV's public shareholders; the ability to obtain or maintain the listing of Nemi Corp.'s securities on Nasdaq; the outcome of any legal proceedings relating to the Business Combination; Nemi's limited operating history at its current scale, its history of losses and its ability to manage growth; Nemi's dependence on a limited number of customers and suppliers, and the risk that open purchase orders are delayed or cancelled or that letters of intent do not convert into orders; Nemi's ability to complete and integrate acquisitions; the concentration of Nemi's operations and assets in India and related economic, political, regulatory, currency and tax risks, including compliance with Indian foreign-investment rules; the risk that Nemi's technology, including the LMM, does not perform as expected, and Nemi's ability to protect its intellectual property; competition, including from better-capitalized companies; export-control, defense and security requirements; the effects of Nemi Corp.'s dual-class share structure and the voting control of Nemi's founder; dilution; the costs of the Business Combination and of operating as a public company; and the other risks to be described under "Risk Factors" in the registration statement on Form S-4 that will be filed in connection with the proposed Business Combination and in BHAV's filings with the SEC. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such statements will be achieved. Except as required by law, neither Nemi nor BHAV undertakes any duty to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Additional Information and Where to Find It

In connection with the Business Combination, Nemi intends to file with the SEC a registration statement on Form S-4 (as amended, the "Registration Statement"), which will include a preliminary proxy statement of BHAV and a preliminary prospectus of Nemi relating to the securities to be issued in the Business Combination. After the Registration Statement is declared effective, BHAV will mail a definitive proxy statement/prospectus and other relevant documents to its shareholders as of the record date established for voting on the Business Combination at an extraordinary general meeting of BHAV's shareholders. This press release is not a substitute for the Registration Statement, the definitive proxy statement/prospectus or any other document that Nemi or BHAV may file with the SEC. BHAV'S SHAREHOLDERS AND OTHER INTERESTED PERSONS ARE URGED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, THE PRELIMINARY PROXY STATEMENT/PROSPECTUS AND ANY AMENDMENTS TO THEM, THE DEFINITIVE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED IN CONNECTION WITH THE BUSINESS COMBINATION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT NEMI, BHAV AND THE BUSINESS COMBINATION. Shareholders will be able to obtain free copies of these documents, when available, at the SEC's website, www.sec.gov, or by directing a request to BHAV Acquisition Corp, 255 Old New Brunswick Rd., Suite N210, Piscataway, NJ 08854, Attention: chaitanya@bhavspac.com.

Participants in the Solicitation

BHAV, Nemi and their respective directors and executive officers may be deemed participants in the solicitation of proxies from BHAV's shareholders in connection with the Business Combination. Information about BHAV's directors and executive officers and their ownership of BHAV securities is set out in BHAV's final prospectus for its initial public offering, dated March 18, 2026 and filed with the SEC on March 20, 2026, and in BHAV's subsequent filings with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Registration Statement and the proxy statement/prospectus when available. Free copies of these documents may be obtained as described above.

No Offer or Solicitation

This press release is not a proxy statement or a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination, and it does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS, OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading

Fri, 06 Nov 2026 19:25:00 +0700

VICTORIA, Seychelles, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Bitget, the world's largest Universal Exchange (UEX), has announced the launch of the Open Custody Network (OCN), a new network connecting banks and institutional-grade custodians with Bitget's trading infrastructure for all eligible users.

The initiative addresses a longstanding structural characteristic of the cryptocurrency exchange industry: the concentration of asset custody and trading activities within a single platform. Under the traditional centralized exchange model, users typically transfer their assets to an exchange to access the trading capabilities, concentrating custody and execution within the same venue.

Bitget OCN aims to address this shift by uniting custody independence, banking and institutional-grade security, integrated exchange trading, capital efficiency, and connected liquidity. Through Bitget OCN, users can maintain custody of their assets with participating external providers while accessing trading opportunities on Bitget, without requiring the underlying assets to be held directly in exchange custody. It also aims to provide traders with a more integrated experience, lower barriers to entry for everyone, and more equitable access to financial services.

OCN connects independent custody with Bitget's spot, margin, and futures markets through asset mirroring, allowing eligible users to trade while keeping assets with their selected provider. For market makers, asset managers, and other institutions, the solutions offer a practical way to manage custody concentration risk while putting externally held assets to work across trading strategies. The result is greater custody flexibility and the ability to deploy externally held assets across trading strategies.

"We challenge the assumption that users must place their assets in an exchange's custody to access its trading capabilities," said Gracy Chen, CEO of Bitget. "Our proposition, 'Assets in Bank, Tradings on Bitget.', puts custody choice at the centre of that approach. For the first time, users can leverage world-class liquidity and capital efficiency with lower barriers and zero compromise on custody."

About Bitget

Bitget is the world's largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP. Bitget currently leads in the tokenized TradFi market, providing the industry's lowest fees and highest liquidity across 150 regions worldwide.

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Global Higher Education Forum Highlights Hong Kong's Strategic Vision as International Talent Hub

Fri, 06 Nov 2026 19:21:00 +0700

Pictured at the World Class University Presidents Forum 2026 in Hong Kong are (from left) HKUST President, Professor Nancy Ip; HKSAR's Acting Chief Executive, Mr Chan Kwok-ki; the Minister of Education, Mr Huai Jinpeng; HKSAR's Secretary for Education, Dr Choi Yuk-lin; and HKUST Council Chairman, Professor Harry Shum.

Source: Information Services Department, Hong Kong SAR Government

HONG KONG SAR - Media OutReach Newswire - 5 November 2026 - Education leaders from around the world gathered in Hong Kong for the World Class University Presidents Forum 2026 (November 4-5), further enhancing the city's prestige as a global hub for higher education and promoting academic collaboration and exchanges.

University presidents, renowned scholars and international education leaders representing more than one-third of the world's top 50 universities joined the Forum, which was held at the Hong Kong University of Science and Technology (HKUST). They discussed key issues such as talent cultivation in the intelligent age, technology and innovation driving the future economy, and universities' response to major global challenges.

Speaking at the opening ceremony (November 4), Chan Kwok-ki, Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR), said the Forum's theme, "Higher Education Reimagined: Innovating for the Future" reflects the current global environment.

"We live in an age of rapid technological change, systemic economic shifts, and unprecedented global challenges," Mr Chan said. "In this transformative landscape, universities are no longer just communities of learning and skills development. They are engines of innovation, guardians of truth, and architects of our collective future."

Mr Chan noted that higher education has always been a vital pillar of Hong Kong's success, with the city being home to five universities that are ranked among the world's top 100. Also, the latest QS World University Rankings: Asia 2027 (November 3), listed five Hong Kong universities in Asia's top 10, and three in Asia's top five, further demonstrating the strength of Hong Kong's higher education system.

"This is not by chance," Mr Chan said. "It is the result of sustained government investment, clear policy direction and the hard work of our universities."

Serving as a bridge between East and West, Hong Kong offers a fertile ecosystem characterised by internationalisation and diversification, which brings global talent together to address shared global challenges.

"Alongside signature international events such as the Asia-Pacific Association for International Education (APAIE) Conference and Exhibition held in February, the World Class University Presidents Forum 2026 forms part of a strategic series of signature initiatives promoting the 'Study in Hong Kong' brand worldwide, underscoring the city's role as a key driver shaping the future of global higher education," said Dr Choi Yuk-lin, the Secretary for Education of the HKSAR.

Dr Choi stressed that Hong Kong's educational future is taking concrete physical shape through the development of the Northern Metropolis University Town.

Under the "One town, Five elements" framework, the HKSAR Government is building a holistic campus ecosystem integrating higher education, advanced research, market innovation, vibrant living spaces, and top-tier talent.

"Positioned at the gateway to the Chinese Mainland, the University Town will foster deep Industry-Academia-Research integration, linking academic research directly with industry capabilities to serve national development under the 15th Five-Year Plan," Dr Choi said.

Several heavyweight interuniversity co-operation signing ceremonies were also held during the Forum. These included a Memorandum of Understanding (MOU) on deepening collaboration between Central South University and Monash University; an MOU between Zhejiang University and the HKUST on the establishment of a joint innovation centre; a Trilateral Joint Seed Fund agreement among the University of Warwick, Nanyang Technological University, and Shanghai Jiao Tong University; as well as a student exchange agreement between Trinity College Dublin and Nanjing University, marking a new milestone in global higher education and research collaborative innovation.

"Assembling such a distinguished constellation of global academic leadership strongly reaffirms Hong Kong's standing as an international education hub and significantly enhances the city's discourse power in the global educational arena," Dr Choi said.

The issuer is solely responsible for the content of this announcement.

Hashtags: #HongKong #BrandHongKong #Education #Talent #University

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Ingredion Incorporated Reports Third Quarter 2026 Results

Fri, 06 Nov 2026 19:01:00 +0700

*T&HS delivered its 10th consecutive quarter of net sales volume growth, with share gains in strategic categories, including continued clean label growth globally

*Third quarter 2026 reported and adjusted* operating income both decreased 19% compared to the third quarter 2025

*Third quarter 2026 reported and adjusted diluted EPS were $2.23 and $2.28, compared with $2.61 and $2.75 in the third quarter 2025

*Adjusting full-year guidance for reported diluted EPS to be in the range of $8.04 to $8.49 and adjusted diluted EPS to be in the range of $9.25 to $9.70

WESTCHESTER, Ill., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported its third quarter 2026 results.

"Our third quarter results fell short of our expectations, largely due to Argo's slower than anticipated financial recovery, with incremental pressure from higher input costs and consumer softness," said Jim Zallie, chairman, president and CEO of Ingredion. "While production at Argo remained stable for a second consecutive quarter and inventories are largely rebuilt, high manufacturing costs coupled with softer food and beverage demand impacted profitable volume growth. With plant reliability improved, our focus has shifted to sustainably lowering operating costs and improving volume growth. While we expect these actions to improve earnings, the recovery is taking longer than we expected."

"For Texture & Healthful Solutions, net sales volume growth was a bright spot again this quarter. Volume grew for the tenth consecutive quarter, supported by continued strong demand for clean label globally as customers reformulate for simpler labels, affordability and nutrition. However, higher tapioca costs and manufacturing input cost inflation negatively impacted profit growth in the segment. In Food & Industrial Ingredients-LATAM, stronger volume from brewing and beverage customers in Mexico and Brazil was offset by foreign exchange impacts from a stronger Mexican peso and the impact to our Andean operations from the August earthquake in Colombia."

"As a result, we are lowering our full-year outlook, primarily to reflect the slower earnings recovery in Food & Industrial Ingredients?U.S./CAN, along with the impacts of higher input costs and softer demand."

"Looking ahead, we are taking action to improve financial performance through operating cost discipline and spend management, while we continue to invest in our specialty growth platforms. As we progress the integration planning for the pending acquisition of Tate & Lyle, we are building the foundation for an even stronger company with greater opportunities for growth, innovation and shareholder value creation in 2027 and beyond."

*Reported results are in accordance with U.S. generally accepted accounting principles "GAAP." Adjusted financial measures are non-GAAP financial measures. See "II. Non-GAAP Information" in the Supplemental Financial Information that follows the Condensed Consolidated Financial Statements for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures.

Diluted Earnings Per Share (EPS)

3Q25		3Q26
Reported Diluted EPS	$	2.61	$	2.23
Acquisition/integration costs, net		-		0.09
Impairment charges		-		0.08
Restructuring costs, net		0.05		(0.18	)
Tax items and other matters		0.09		0.06
Adjusted Diluted EPS**	$	2.75	$	2.28

Factors affecting changes in Reported and Adjusted Diluted EPS

	3Q26
Total items affecting adjusted diluted EPS**	(0.47	)
Total operating items	(0.54	)
Margin	(0.72	)
Volume	0.05
Foreign exchange	0.04
Other income	0.09
Total non-operating items	0.07
Financing costs	(0.03	)
Non-controlling interests	0.02
Tax rate	--
Shares outstanding	0.06
Other non-operating income	0.02

** Totals may not sum or recalculate due to rounding

Business Review

Total Ingredion

Net Sales

$ in millions	2025	FX Impact	Volume	Pakistan Volume*	Price Mix	2026	Change	Change excl. FX
Third Quarter	1,816	26	21	(65)	(6)	1,792	(1%)	(3%)
Year-to-Date	5,462	95	9	(65)	(67)	5,434	(1%)	(2%)

*Represents loss of volume due to the sale of the majority stake in our Pakistan business

Third quarter net sales decreased 1%, primarily reflecting the sale of the majority stake in our Pakistan business. Excluding results of the Pakistan business, net sales increased 2%, driven by favorable foreign exchange and by higher volumes in F&II?LATAM and T&HS.

Reported Operating Income

$ in millions	2025	FX Impact	Business Drivers	Restructuring/ Impairment	Other	2026	Change	Change excl. FX
Third Quarter	249	4	(52)	17	(17)	201	(19%)	(21%)
Year-to-Date	796	15	(139)	(29)	(51)	592	(26%)	(28%)

Adjusted Operating Income

$ in millions	2025	FX Impact	Business Drivers	2026	Change	Change excl. FX
Third Quarter	254	4	(52)	206	(19%)	(21%)
Year-to-Date	800	15	(139)	676	(16%)	(18%)

Third quarter reported and adjusted operating income were $201 million and $206 million, respectively. The $5 million difference between reported and adjusted operating income reflects acquisition-related costs, impairment charges and Argo thermal event costs, largely offset by a net restructuring benefit. Excluding foreign exchange translation impacts, reported and adjusted operating income were both down 21% from a year ago.

Texture & Healthful Solutions

Net Sales

$ in millions	2025	FX Impact	Volume	Price Mix	2026	Change	Change excl. FX
Third Quarter	605	(3)	12	(4)	610	1%	1%
Year-to-Date	1,806	15	69	(36)	1,854	3%	2%

Segment Operating Income

$ in millions	2025	FX Impact	Business Drivers	2026	Change	Change excl. FX
Third Quarter	105	(1)	(9)	95	(10%)	(9%)
Year-to-Date	315	3	(6)	312	(1%)	(2%)

Third quarter operating income for Texture & Healthful Solutions was $95 million, down $10 million from a year ago, driven by unfavorable tapioca costs and manufacturing expense, as well as unfavorable price mix, partially offset by positive volumes and operating expense. Excluding foreign exchange translation impacts, segment operating income was down 9%.

Food & Industrial Ingredients-LATAM

Net Sales

$ in millions	2025	FX Impact	Volume	Price Mix	2026	Change	Change excl. FX
Third Quarter	585	30	21	(12)	624	7%	2%
Year-to-Date	1,754	78	9	(27)	1,814	3%	(1%)

Segment Operating Income

$ in millions	2025	FX Impact	Business Drivers	Argentina JV	2026	Change	Change excl. FX
Third Quarter	116	5	(15)	3	109	(6%)	(10%)
Year-to-Date	370	11	(46)	7	342	(8%)	(11%)

Third quarter operating income for Food & Industrial Ingredients-LATAM was $109 million, a $7 million decrease from a year ago, driven primarily by Mexico's transactional currency impact and the business disruption resulting from the earthquake in Colombia, partially offset by higher volumes. Excluding foreign exchange translational impacts, segment operating income was down 10%.

Food & Industrial Ingredients?U.S./CAN

Net Sales

$ in millions	2025	FX Impact	Volume	Price Mix	2026	Change	Change excl. FX
Third Quarter	507	(1)	(15)	13	504	(1%)	-%
Year-to-Date	1,550	1	(75)	(9)	1,467	(5%)	(5%)

Segment Operating Income

$ in millions	2025	FX Impact	Business Drivers		2026	Change		Change excl. FX
Third Quarter	81	-	(29	)	52	(36	%)	(36	%)
Year-to-Date	259	1	(116	)	144	(44	%)	(44	%)

Third quarter operating income for Food & Industrial Ingredients?U.S./CAN was $52 million, a $29 million decrease from the prior year. The decline resulted from higher manufacturing expenses at our Argo facility, as well as volume declines, partially offset by favorable price mix. Excluding foreign exchange translation impacts, operating income was down 36%.

All Other**

Net Sales

$ in millions	2025	FX Impact	Volume	Pakistan Volume*	Price Mix	2026	Change	Change excl. FX
Third Quarter	119	-	3	(65)	(3)	54	(55%)	(55%)
Year-to-Date	352	1	6	(65)	5	299	(15%)	(15%)

*Represents loss of volume due to the sale of the majority stake in our Pakistan business

All Other Operating Loss

$ in millions	2025	FX Impact	Pakistan	Business Drivers	2026	Change	Change excl. FX
Third Quarter	(4)	-	(9)	2	(11)	NM	NM
Year-to-Date	(5)	-	(9)	12	(2)	NM	NM

Third quarter operating loss for All Other increased $7 million from the prior year, reflecting the impact of the sale of the majority stake in our Pakistan business partially offset by continued improvements in the Protein Fortification business.

** All Other consists of the businesses of multiple operating segments that are not individually or collectively classified as reportable segments. Net sales from All Other are generated primarily by sales of stevia and other ingredients from our PureCircle and other sugar reduction businesses, and pea protein ingredients from our Protein Fortification business.

Other Financial Items

At September 30, 2026, total debt was $1.8 billion, and cash, including short-term investments, was $993 million, versus $1.8 billion and $1.0 billion at December 31, 2025.

Net adjusted financing costs were $10 million in third quarter 2026, compared to $7 million in third quarter 2025.

Reported and adjusted effective tax rates for the third quarter were 26.8% and 26.4%, respectively, compared to 28.6% and 26.4%, respectively, for the year-ago period. The decrease in the reported effective tax rate was primarily driven by the change in the permanent reinvestment status of our Pakistan business recorded in the prior-year period and a favorable ruling in Brazil related to the taxability of ICMS credits. These favorable impacts were partially offset by the change in the value of the Mexican peso relative to the U.S. dollar.

Capital expenditures totaled $313 million through September 30, 2026, partially offset by proceeds of $36 million from the sales of certain properties.

Dividends and Share Repurchases

In the third quarter, the Company paid $53 million in dividends to shareholders. On September 17, 2026, the Company declared a quarterly dividend increase to $0.83 per share, which was paid on October 20, 2026, marking the 12th consecutive year of dividend increases. Through September 30, the Company repurchased $85 million of common stock and is on track to complete its $100 million full-year share repurchase target.

Updated Full-Year 2026 Outlook

The Company now expects its full-year 2026 reported diluted EPS to be in the range of $8.04 to $8.49, and its adjusted diluted EPS to be in the range of $9.25 to $9.70.

The Company now expects full-year 2026 net sales to be flat, reflecting volume growth and favorable foreign exchange, offset by lower price mix as well as the impact of the previously mentioned sale of its majority stake in the Pakistan business. Excluding results of the Pakistan business, net sales is expected to be flat to up low single digits.

Reported operating income is expected to be down low double digits, with adjusted operating income now expected to be down mid-teens for full-year 2026, which reflects the operational challenges in F&II-U.S./CAN.

The 2026 full-year outlook further assumes the following: Texture & Healthful Solutions operating income is now expected to be flat to up low single-digits, driven by sales volume growth, offset by expected higher input cost inflation; Food & Industrial Ingredients-LATAM operating income is now anticipated to be down mid-to-high single-digits, reflecting the continued strength of the Mexican peso; Food & Industrial Ingredients-U.S./CAN operating income is now expected to be down 35-40%, driven by operating costs at Argo; and All Other's operating loss is still anticipated to be approximately $(15) million, which reflects the absence of a second half earnings contribution from the sale of the Pakistan business.

Corporate costs for full-year 2026 are expected to be down mid-single digits.

For full-year 2026, the Company expects a reported effective tax rate of 27.9% to 28.9% and expects an adjusted effective tax rate of 26.5% to 27.5%.

Cash from operations for the full year 2026 is now expected to be in the range of $650 million to $750 million. Capital expenditures for the full year are still expected to be approximately $450 to $490 million.

This guidance reflects tariff levels in effect as of the end of October 2026. In addition, this guidance excludes acquisition-related integration and restructuring costs, as well as any potential impairment costs.

Conference Call and Webcast Details

Ingredion will host a conference call on Thursday, November 5, 2026, at 8 a.m. CT/9 a.m. ET, hosted by Jim Zallie, chairman, president and chief executive officer and Diego Reynoso, executive vice president and chief financial officer. The call will be webcast in real time and can be accessed at https://ir.ingredionincorporated.com/events-and-presentations. A presentation containing additional financial and operating information will be accessible through the Company's website and available to download a few hours before the start of the call. A replay will be available for a limited time at https://ir.ingredionincorporated.com/financial-information/quarterly-results.

About Ingredion

Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs? innovation centers located around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

Forward-Looking Statements

This news release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Ingredion Incorporated intends these forward-looking statements to be covered by the safe harbor provisions for such statements.

Forward-looking statements include, among others, any statements regarding our expectations for full-year 2026 reported and adjusted diluted earnings per share, net sales, reported and adjusted operating income, segment operating income, corporate costs, reported and adjusted effective tax rate, cash from operations, and capital expenditures, and any other statements regarding our prospects and our future operations, financial condition, volumes, cash flows, expenses or other financial items, including management's plans or strategies and objectives for any of the foregoing and any assumptions, expectations, or beliefs underlying any of the foregoing. In addition, such statements include statements regarding our expectations with respect to completion and benefits of the pending acquisition of Tate & Lyle (the "pending acquisition"), including statements regarding plans, objectives, intentions and expectations with respect to the future operations and financial performance of the combined group.

These statements can sometimes be identified by the use of forward-looking words such as "may," "will," "should," "anticipate," "assume," "believe," "plan," "project," "estimate," "expect," "intend," "continue," "pro forma," "forecast," "outlook," "opportunities," "potential," or other similar expressions or the negative thereof. All statements other than statements of historical facts therein are "forward-looking statements."

These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that our expectations will prove correct.

The following factors relating to the pending acquisition, among others, could cause actual results to differ materially from those expressed in or implied by our forward-looking statements with respect to other matters: failure of the pending acquisition to be completed when expected or at all because of the inability to satisfy material antitrust or other conditions or for other reasons; the risk that the expected benefits of the pending acquisition may not be fully realized or may take longer to realize than anticipated, including as a result of the risks and uncertainties discussed below; failure to integrate effectively the businesses of Ingredion and Tate & Lyle or to manage effectively the expanded operations of the combined group; the incurrence of substantial expenses and indebtedness by Ingredion and the combined group to complete the pending acquisition and to operate the enterprise after completion; and the risk of loss of contracts and customers, distributors, suppliers, vendors and other business partners of Tate & Lyle as a results of the pending acquisition.

Actual results and developments may differ materially from the expectations expressed in or implied by our forward-looking statements, based on various risks and uncertainties, including changes in consumer practices, preferences, price sensitivity, behaviors, demand and perceptions; the impact of geopolitical developments, tensions, threats or conflicts on the availability and prices of raw materials and energy supplies, supply chains and foreign exchange and interest rates; the impact of global business and economic conditions on demand for our products or our access to global credit and equity markets; our reliance on certain industries for a significant portion of our sales; operating difficulties at our manufacturing facilities and liabilities relating to product safety and quality; our ability to keep pace with technological developments in research and development and continue to offer innovative products; competitive pressures that may adversely affect our market share, revenue and profitability; market volatility that may adversely affect our ability to pass through potential increases in the cost of corn and other raw materials to customers, to purchase quantities of corn and other raw materials at prices sufficient to sustain or increase our profitability, or to supply product quantities and meet shipment delivery requirements that our customers demand; the impact on inputs to our procurement, production processes and delivery channels, such as raw material, energy, and freight and logistics, of price fluctuations, supply chain interruptions, tariffs, duties, and shortages; our ability to contain costs, manage working capital, and achieve budgets, including completion of planned maintenance and investment projects on time and on budget; global climate change and legal, regulatory, or market measures to address climate change; our ability to identify and complete acquisitions, divestitures, or strategic alliances on favorable terms or achieve anticipated synergies; the economic, political and other risks inherent in conducting operations in foreign countries and with foreign currencies; our ability to maintain satisfactory labor relations; our ability to attract, develop, retain, motivate and maintain good relationships with our workforce, including key personnel; the impact of legal and regulatory proceedings; the risks associated with pandemics; the impact of any impairment charges on intangible assets and goodwill; global and regional economic policies and changes to existing laws and regulations; changes in our tax rates or exposure to additional income tax liabilities; increases in interest rates that could increase our borrowing costs; risks affecting our ability to raise funds at reasonable rates and other factors affecting our access to sufficient funds for future growth and expansion; risks relating to the use of artificial intelligence and other advanced technologies, and our reliance on third‑party technology providers; interruptions, security incidents, or failures with respect to information technology systems, processes, and sites; risks affecting the continuation of our dividend policy; and our ability to maintain effective internal control over financial reporting.

Our forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments or otherwise. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see "Risk Factors" and other information included in our Annual Report on Form 10-K for the year ended December 31, 2025, and in our subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.

Additional Information

This press release is for information purposes and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the all-cash offer by the Company for the entire issued and to be issued ordinary share capital of Tate & Lyle, or otherwise, nor shall there be any sale, issuance or transfer of securities of Tate & Lyle in any jurisdiction in contravention of applicable law. The pending acquisition will be made solely by means of a scheme of arrangement (or, if the pending acquisition is implemented by way of a takeover offer, as that term is defined in the UK Companies Act 2006 (a "Takeover Offer"), the offer document), which will contain the full terms and conditions of the pending acquisition. If the Company exercises its right to implement the pending acquisition by way of a Takeover Offer, such offer will be made in compliance with applicable U.S. laws and regulations.

CONTACTS:

Investors: Noah Weiss, 773-896-5242

Media: Rick Wion, 708-209-6323

Ingredion Incorporated Condensed Consolidated Statements of Income (Unaudited) (dollars and shares in millions, except per share data)

	Three Months Ended September 30,					Change %	Nine Months Ended September 30,						Change %
		2026		2025		Change %		2026			2025		Change %
Net sales	$	1,792		$	1,816	(1%)	$	5,434		$	5,462		(1%)
Cost of sales		1,393			1,361			4,208			4,064
Gross profit		399			455	(12%)		1,226			1,398		(12%)
Operating expenses		215			203	6%		622			604		3%
Other operating (income), net		(3	)		-			(30	)		(15	)
Restructuring/impairment charges, net		(14	)		3			42			13
Operating income		201			249	(19%)		592			796		(26%)
Financing costs		5			7			69			28
Net (gain) on sale of business		-			-			(44	)		-
Other non-operating expense, net		2			1			4			1
Income before income taxes		194			241	(20%)		563			767		(27%)
Provision for income taxes		52			69			161			198
Net income		142			172	(17%)		402			569		(29%)
Less: Net income attributable to non-controlling interests		-			1			4			5
Net income attributable to Ingredion	$	142		$	171	(17%)	$	398		$	564		(29%)

Earnings per common share attributable to Ingredion common shareholders:

Weighted average common shares outstanding:
Basic		63.1			64.3			63.2			64.4
Diluted		63.7			65.4			63.8			65.5

Earnings per common share of Ingredion:
Basic	$	2.25		$	2.66	(15%)	$	6.30		$	8.76		(28%)
Diluted	$	2.23		$	2.61	(15%)	$	6.24		$	8.61		(28%)

Ingredion Incorporated Condensed Consolidated Balance Sheets (dollars and shares in millions, except per share amounts)

	September 30, 2026			December 31, 2025
	(Unaudited)			December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	989		$	1,030
Short-term investments		4			3
Accounts receivable, net		1,346			1,185
Inventories		1,151			1,227
Prepaid expenses and assets held for sale		70			60
Total current assets		3,560			3,505
Property, plant and equipment, net		2,560			2,526
Goodwill		917			922
Intangible assets, net		330			347
Other non-current assets		760			597
Total assets	$	8,127		$	7,897

Liabilities and stockholders' equity
Current liabilities:
Short-term borrowings	$	533		$	48
Accounts payable, accrued liabilities and liabilities held for sale		1,241			1,268
Total current liabilities		1,774			1,316
Long-term debt		1,242			1,742
Other non-current liabilities		502			473
Total liabilities		3,518			3,531

Share-based payments subject to redemption		56			64
Redeemable non-controlling interests		-	-		7

Ingredion stockholders' equity:
Preferred stock ? authorized 25.0 shares ? $0.01 par value, none issued		-			-
Common stock ? authorized 200.0 shares ? $0.01 par value, 77.8 shares issued at September 30, 2026 and December 31, 2025		1			1
Additional paid-in capital		1,147			1,155
Less: Treasury stock (common stock: 15.4 and 14.8 shares at September 30, 2026 and December 31, 2025) at cost		(1,624	)		(1,555	)
Accumulated other comprehensive loss		(822	)		(937	)
Retained earnings		5,851			5,610
Total Ingredion stockholders' equity		4,553			4,274
Non-redeemable non-controlling interests		-			21
Total stockholders' equity		4,553			4,295
Total liabilities and stockholders' equity	$	8,127		$	7,897

Ingredion Incorporated Condensed Consolidated Statements of Cash Flows (Unaudited) (dollars in millions)

	Nine Months Ended September 30,
		2026			2025
Cash from operating activities
Net income	$	402		$	569
Non-cash charges to net income:
Depreciation and amortization		165			165
Mechanical stores expense		56			50
Net (gain) on sale of business		(44	)		-
(Gain) on sale of land		(26	)		-
Impairment charges		39			6
Foreign exchange losses, net		44			3
Deferred income taxes		6			2
Margin accounts		17			3
Changes in other working capital		(219	)		(235	)
Other		(51	)		(24	)
Cash provided by operating activities		389			539
Cash from investing activities
Capital expenditures and mechanical stores purchases		(313	)		(299	)
Proceeds from disposal of manufacturing facilities and equipment		36			1
Proceeds from sales of businesses, net		139			12
Purchases of equity securities, net		(26	)		(11	)
Other		(5	)		(5	)
Cash used for investing activities		(169	)		(302	)
Cash from financing activities
Proceeds (payments) on borrowings, net		29			(37	)
Repurchases of common stock, net		(85	)		(134	)
Common stock activity for share-based compensation, net		(10	)		(12	)
Purchases of non-controlling interests		(34	)		-
Dividends paid, including to non-controlling interests		(158	)		(157	)
Cash used for financing activities		(258	)		(340	)
Effects of foreign exchange rate changes on cash and cash equivalents		(3	)		21
(Decrease) in cash and cash equivalents		(41	)		(82	)
Cash and cash equivalents, beginning of period		1,030			997
Cash and cash equivalents, end of period	$	989		$	915

Ingredion Incorporated
Supplemental Financial Information
(Unaudited)
(dollars in millions, except for percentages)

I. Segment Information of Net Sales to Unaffiliated Customers and Operating Income

	Three Months Ended September 30,						Change %	Change Excl. FX %	Nine Months Ended September 30,						Change %	Change Excl. FX %
		2026			2025		Change %	Change Excl. FX %		2026			2025		Change %	Change Excl. FX %
Net Sales to Unaffiliated Customers:
Texture & Healthful Solutions (i)	$	610		$	605		1%	1%	$	1,854		$	1,806		3%	2%
Food & Industrial Ingredients?LATAM (ii)		624			585		7%	2%		1,814			1,754		3%	(1%)
Food & Industrial Ingredients?U.S./Canada (iii)		504			507		(1%)	-%		1,467			1,550		(5%)	(5%)
All Other (iv)		54			119		(55%)	(55%)		299			352		(15%)	(15%)
Net Sales	$	1,792		$	1,816		(1%)	(3%)	$	5,434		$	5,462		(1%)	(2%)

Operating Income (Loss):
Texture & Healthful Solutions	$	95		$	105		(10%)	(9%)	$	312		$	315		(1%)	(2%)
Food & Industrial Ingredients?LATAM		109			116		(6%)	(10%)		342			370		(8%)	(11%)
Food & Industrial Ingredients?U.S./Canada		52			81		(36%)	(36%)		144			259		(44%)	(44%)
All Other		(11	)		(4	)	NM	NM		(2	)		(5	)	NM	NM
Corporate		(39	)		(44	)	(11%)	(11%)		(120	)		(139	)	(14%)	(14%)
Adjusted Operating Income		206			254		(19%)	(21%)		676			800		(16%)	(18%)
Acquisition/integration costs, net		(11	)		-					(17	)		-
Impairment charges		(3	)		-					(34	)		(6	)
Restructuring costs, net		17			(3	)				(8	)		(7	)
Other matters		(8	)		(2	)				(25	)		9
Operating Income	$	201		$	249		(19%)	(21%)	$	592		$	796		(26%)	(28%)

Notes to Net Sales to Unaffiliated Customers

(i) Net of inter-segment sales of $22 million and $7 million for the third quarter of 2026 and 2025, and $66 million and $25 million for year-to-date 2026 and 2025.

(ii) Net of inter-segment sales of $17 million and $12 million for the third quarter of 2026 and 2025, and $38 million and $39 million for year-to-date 2026 and 2025.

(iii) Net of inter-segment sales of $37 million and $25 million for the third quarter of 2026 and 2025, and $112 million and $85 million for year-to-date 2026 and 2025.

(iv) Net of inter-segment sales of $6 million and $3 million for the third quarter of 2026 and 2025, and $18 million and $10 million for year-to-date 2026 and 2025.

II. Non-GAAP Information

To supplement the consolidated financial results prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), non-GAAP historical financial measures are used, which exclude certain GAAP items such as acquisition/integration costs, restructuring costs, impairment charges, net (gain) on sale of business, Mexico tax item, and other specified items. The term "adjusted" is generally used when referring to these non-GAAP financial measures.

Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of the Company's operating results and trends for the periods presented. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of the Company's operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business. Expected financial measures may not reflect certain future charges, costs and/or gains that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance. Non-GAAP adjustments are generally made to adjusted financial measures, which increases management's confidence in its ability to forecast adjusted financial measures than in its ability to forecast GAAP financial measures. These non-GAAP measures, including non-GAAP expected measures, should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the Company's non-GAAP information is not necessarily comparable to similarly titled measures presented by other companies. A reconciliation of each non-GAAP financial measure to the most comparable GAAP measure is provided in the tables below.

Ingredion Incorporated Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share ("EPS") to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS (Unaudited)

	Three Months Ended September 30, 2026						Nine Months Ended September 30, 2026
	(in millions)			Diluted EPS			(in millions)			Diluted EPS
Net income attributable to Ingredion	$	142		$	2.23		$	398		$	6.24

Adjustments:

Acquisition/integration costs, net (i)		6			0.09			47			0.74

Impairment charges (ii)		5			0.08			27			0.42

Restructuring costs, net (iii)		(12	)		(0.18	)		7			0.11

Net (gain) on sale of business (iv)		-			-			(17	)		(0.27	)

Other matters (v)		6			0.09			18			0.29

Tax item?Mexico (vi)		3			0.05			(3	)		(0.05	)

Other tax matters (vii)		(5	)		(0.08	)		(2	)		(0.03	)

Non-GAAP adjusted net income attributable to Ingredion	$	145		$	2.28		$	475		$	7.45

	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	(in millions)			Diluted EPS			(in millions)			Diluted EPS
Net income attributable to Ingredion	$	171		$	2.61		$	564		$	8.61

Adjustments:

Impairment charges (ii)		-			-			4			0.06

Restructuring costs, net (iii)		3			0.05			6			0.09

Other matters (v)		1			0.02			(7	)		(0.10	)

Tax item?Mexico (vi)		(3	)		(0.05	)		(10	)		(0.15	)

Other tax matters (vii)		8			0.12			6			0.09

Non-GAAP adjusted net income attributable to Ingredion	$	180		$	2.75		$	563		$	8.60

Net income and EPS may not sum or recalculate due to rounding.

Notes

(i) During the three and nine months ended September 30, 2026, we recorded net pre-tax acquisition and integration costs of $6 million and $59 million primarily related to our pending acquisition of Tate & Lyle, including $5 million and $42 million of gains and losses of acquisition-related foreign exchange hedging for the three and nine months ended September 30, 2026. There was no such activity during the three and nine months ended September 30, 2025.

(ii) During the three and nine months ended September 30, 2026, we recorded pre-tax impairment charges of $6 million and $39 million. In the third quarter we recorded a charge related to the sale of our facility in Vanscoy, Canada and impairment charge on an equity investment. In addition, we recorded charges relating to the closure our Cabo, Brazil facility in the first half of 2026. During the nine months ended September 30, 2025, we recorded $6 million of pre-tax impairment charges on our equity investments.

(iii) During the three and nine months ended September 30, 2026, we recorded a pre-tax restructuring benefit of $17 million and pre-tax restructuring charges of $8 million. The benefit during the quarter was primarily from the gain on the sale of land in Lane Cove, Australia. During the nine months ended September 30, 2026, the gain on sale of land was fully offset by restructuring costs primarily related to the closure of our facility in Cabo, Brazil and the sale of our Pakistan business. During the three and nine months ended September 30, 2025, we recorded pre-tax restructuring costs of $3 million and $7 million, primarily related to decommissioning costs for plant closures.

(iv) During the nine months ended September 30, 2026, we recorded a net pre-tax gain of $44 million related to the sale of our Pakistan business. There was no such activity during September 30, 2025.

(v) During the three and nine months ended September 30, 2026, we recorded pre-tax charges of $8 million and $25 million primarily related to the Argo thermal event. During the three and nine months ended September 30, 2025, we recorded pre-tax expenses of $2 million and pre-tax benefits of $9 million primarily related to insurance recoveries and a favorable judgment related to certain indirect taxes.

(vi) The tax amounts are result of the movement of the Mexican peso against the U.S. dollar and its impact on the remeasurement of the Mexico financial statements during the period.

(vii) During the three and nine months ended September 30, 2026, we recognized tax benefits, including interest income associated with certain Brazilian local incentives and the recognition of a U.S. deferred tax asset. These benefits were partially offset by the related tax impacts of current- and prior-year non-GAAP adjustments and the recapture of prior-year U.S. tax benefits. Additionally, during the nine months ended September 30, 2026, we recognized tax benefits associated with the utilization of previously unbenefited capital losses. These benefits were partially offset by changes in our accrual related to the permanent reinvestment of foreign earnings and the recognition of prior-year tax liabilities.

Ingredion Incorporated Reconciliation of GAAP Operating Income to Non-GAAP Adjusted Operating Income (Unaudited) (dollars in millions, pre-tax)

	Three Months Ended September 30,					Nine Months Ended September 30,
		2026			2025		2026		2025
Operating income	$	201		$	249	$	592	$	796

Adjustments:

Acquisition/integration costs, net (i)		11			-		17		-

Impairment charges (ii)		3			-		34		6

Restructuring costs, net (iii)		(17	)		3		8		7

Other matters (v)		8			2		25		(9	)

Non-GAAP adjusted operating income	$	206		$	254	$	676	$	800

For notes (i) through (v), see notes (i) through (v) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share ("EPS") to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated Reconciliation of GAAP Financing Costs to Non-GAAP Adjusted Financing Costs (Unaudited) (dollars in millions, pre-tax)

	Three Months Ended September 30,				Nine Months Ended September 30,
		2026		2025		2026			2025
Financing costs	$	5	$	7	$	69		$	28

Adjustments:

Acquisition/integration costs, net (i)		5		-		(42	)		-

Non-GAAP adjusted financing costs	$	10	$	7	$	27		$	28

For note (i), see note (i) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share ("EPS") to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated Reconciliation of GAAP Effective Income Tax Rate to Non-GAAP Adjusted Effective Income Tax Rate (Unaudited) (dollars in millions, except for percentages)

	Three Months Ended September 30, 2026							Nine Months Ended September 30, 2026
	Income before Income Taxes (a)			Provision for Income Taxes (b)			Effective Income Tax Rate (b/a)	Income before Income Taxes (a)			Provision for Income Taxes (b)			Effective Income Tax Rate (b/a)
As Reported	$	194		$	52		26.8%	$	563		$	161		28.6%

Adjustments:

Acquisition/integration costs, net (i)		6			-				59			12

Impairment charges (ii)		6			1				39			12

Restructuring costs, net (iii)		(17	)		(5	)			8			1

Net (gain) on sale of business (iv)		-			-				(44	)		(27	)

Other matters (v)		8			2				25			7

Tax item?Mexico (vi)		-			(3	)			-			3

Other tax matters (vii)		-			5				-			2

Adjusted Non-GAAP	$	197		$	52		26.4%	$	650		$	171		26.3%

	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	Income before Income Taxes (a)		Provision for Income Taxes (b)			Effective Income Tax Rate (b/a)	Income before Income Taxes (a)			Provision for Income Taxes (b)			Effective Income Tax Rate (b/a)
As Reported	$	241	$	69		28.6%	$	767		$	198		25.8%

Adjustments:

Impairment charges (ii)		-		-				6			2

Restructuring costs, net (iii)		3		-				7			1

Other matters (v)		2		1				(9	)		(2	)

Tax item?Mexico (vi)		-		3				-			10

Other tax matters (vii)		-		(8	)			-			(6	)

Adjusted Non-GAAP	$	246	$	65		26.4%	$	771		$	203		26.3%

For notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share ("EPS") to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated Reconciliation of Expected GAAP Diluted Earnings Per Share ("GAAP EPS") to Expected Adjusted Diluted Earnings Per Share ("Adjusted EPS") (Unaudited)

	Expected EPS Range for Full-Year 2026
	Low End of Guidance			High End of Guidance
GAAP EPS	$	8.04		$	8.49

Adjustments:

Acquisition/integration costs, net (i)		0.74			0.74

Impairment charges (ii)		0.42			0.42

Restructuring costs, net (iii)		0.11			0.11

Net (gain) on sale of business (iv)		(0.27	)		(0.27	)

Other matters (v)		0.29			0.29

Tax item-Mexico (vi)		(0.05	)		(0.05	)

Other tax matters (vii)		(0.03	)		(0.03	)

Adjusted EPS	$	9.25		$	9.70

or notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share ("EPS") to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated
Reconciliation of Expected GAAP Effective Income Tax Rate ("GAAP ETR")
to Expected Adjusted Effective Income Tax Rate ("Adjusted ETR")
(Unaudited)

	Expected Effective Income Tax Rate Range for Full-Year 2026
	Low End of Guidance		High End of Guidance
GAAP ETR	27.9	%	28.9	%

Adjustments:

Acquisition/integration costs, net (i)	(0.4	%)	(0.4	%)

Impairment charges (ii)	0.1	%	0.1	%

Restructuring costs, net (iii)	(0.1	%)	(0.1	%)

Net (gain) on sale of business (iv)	(1.7	%)	(1.7	%)

Other matters (v)	0.1	%	0.1	%

Tax item?Mexico (vi)	0.3	%	0.3	%

Other tax matters (vii)	0.3	%	0.3	%

Adjusted ETR	26.5	%	27.5	%

MRM Health and Biocodex establish strategic partnership to strengthen future commercial supply capabilities for CORAL - based medicines

Fri, 06 Nov 2026 18:52:00 +0700

Ghent, Belgium - November 5, 2026 , Nov. 05, 2026 (GLOBE NEWSWIRE) -- MRM Health and Biocodex establish strategic partnership to strengthen future commercial supply capabilities for CORAL-based medicines

Collaboration combines MRM Health's cutting-edge microbiome science and proprietary CORAL platform with Biocodex's industrialization and manufacturing capabilities

Planned EUR15 million investment by Biocodex in specialized anaerobic manufacturing infrastructure will establish an additional pathway for MH002 and other MRM Health programs, from clinical development toward potential commercial supply

The specialized manufacturing capacity strengthens MRM Health's readiness for pharmaceutical partnerships while preserving manufacturing flexibility and ownership of its platform and product-related innovations

MRM Health, a clinical-stage biotech developing microbiome-based therapies for immune-mediated diseases, and Biocodex, an independent French pharmaceutical company with more than 70 years of experience in the microbiome field, today announced the launch of a strategic partnership to establish specialized manufacturing capabilities for live biotherapeutic products. The collaboration combines MRM Health's cutting-edge microbiome science and proprietary CORAL platform with Biocodex's pharmaceutical development, industrialization and manufacturing capabilities.

The partnership is designed to support both MRM Health's lead asset MH002 and other CORAL-based programs across the product lifecycle, from process development and clinical manufacturing toward potential future commercial supply. By establishing access to specialized manufacturing infrastructure alongside the clinical development of its pipeline, MRM Health is addressing an important future manufacturing and supply requirement for complex live biotherapeutic products and further strengthening the readiness of its programs for pharmaceutical partnerships and commercialization.

Biocodex will invest EUR15 million over the coming years in a new manufacturing infrastructure dedicated to live biotherapeutic products, including anaerobic manufacturing capabilities at its state-of-the-art pharmaceutical site in Beauvais, France. Biocodex will fund, build, own and operate the facility, while MRM Health will contribute its proprietary anaerobic manufacturing expertise to its design and implementation. The infrastructure will be designed to support the specific manufacturing requirements of products derived from MRM Health's proprietary CORAL platform, while also supporting other live biotherapeutic programs.

"Developing next-generation live biotherapeutics into successful medicines requires manufacturing capabilities that are just as sophisticated as the underlying science," said Dr. Sam Possemiers, Chief Executive Officer of MRM Health. "Together with Biocodex we are establishing a specialized and scalable manufacturing pathway from clinical development to future commercial production. This partnership strengthens the readiness of both our own pipeline and CORAL programs developed with pharmaceutical partners for future commercialization, bringing us closer to delivering microbiome-based therapeutics to patients."

"This strategic collaboration strengthens the partnership we began last year with MRM Health," added Nicolas Coudurier, Chief Executive Officer of Biocodex. "By combining our expertise, we are helping to strengthen European industrial capabilities in the field of live biotherapeutics. This is an important step in supporting the development of these new therapeutic approaches and ultimately enabling patients to benefit from them."

A platform-enabling partnership supporting multiple MRM programs

The partnership establishes a framework under which Biocodex may provide process development, analytical testing and GMP manufacturing services for individual CORAL programs under program-specific agreements. MRM Health will have access to the manufacturing infrastructure for its proprietary, partnered and out-licensed CORAL programs.

The non-exclusive nature of the collaboration preserves MRM Health's flexibility to engage additional or alternative manufacturing partners where appropriate. This flexible partnership provides an additional manufacturing pathway for its lead candidate MH002 and its broader pipeline while reducing the need for its pharmaceutical partners to establish specialized manufacturing pathways independently as programs advance toward commercialization.

Scalable industrial support, from development to commercial supply

MRM Health has developed proprietary expertise in the scalable manufacturing of complex bacterial consortia through its single-process CORAL production technology. The new infrastructure will build on this proficiency, as well as on the industrial experience of Biocodex, and provide a coordinated pathway for technology transfer, process development, clinical manufacturing and future commercial supply.

The facility will provide flexible manufacturing infrastructure across multiple scales. For MRM Health, it will enable the progression of both MH002 and other pipeline programs from development through later-stage clinical manufacturing and ultimately toward commercial-scale production. Capacity supporting CORAL programs will expand in line with the clinical and commercial progress of MRM Health's portfolio. Initial process development and pilot manufacturing activities are expected to begin by 2027, with commercial-scale manufacturing targeted from 2030.

About MRM Health

MRM Health is a clinical-stage biotech developing innovative live biotherapeutic products (LBPs) for immune-mediated diseases with high unmet needs. The Company's lead program, MH002, for inflammatory bowel diseases (IBD), is currently being evaluated in the 204-patient STARFISH-UC Phase 2b study in patients with mild-to-moderate ulcerative colitis, following positive Phase 2a clinical data in ulcerative colitis and pouchitis.

MH002 received FDA Fast Track designation in April 2026. MRM Health is expanding its pipeline across other inflammatory diseases and immuno-oncology, leveraging AI-guided discovery and deep expertise in microbiome ecosystem biology. Its CORAL platform enables the rational design and manufacture of disease-focused microbial consortia with enhanced efficacy and scalability. In September 2025, MRM Health successfully closed a EUR55 million Series B round led by Biocodex, with strong support from ATHOS, BNP Paribas Fortis Private Equity and existing investors SFPIM, AvH, OMX Europe VF, QBIC II and VIB.

About Biocodex

Biocodex is an independent French pharmaceutical company operating in more than 100 countries through its subsidiaries or partners. As a pioneer in gut microbiota research, the company has made it a central strategic focus, driven by the conviction that this ecosystem plays a key role in overall health and a more holistic approach to care.

The Group develops innovative healthcare solutions across four complementary areas: microbiota, women's health, rare diseases, and established products addressing everyday health needs (mental health, sleep, pain, etc.). True to its family-owned identity, Biocodex promotes a committed vision of health that combines scientific excellence, a strong industrial base in France, international reach, and corporate social responsibility. This commitment has been recognized with the "Engag? RSE" label - Confirmed level (★★), awarded by AFNOR Certification and recognized across Europe through Responsibility Europe.

Empowering everyone to live fully is Biocodex's purpose, embodied by its 1,900 employees worldwide.