Market Newsdesk

May 1, 2026 5:18 am

LyondellBasell completes sale of select European strategic assessment assets

Transaction with AEQUITA advances company’s portfolio realignment

ROTTERDAM, Netherlands, May 01, 2026 (GLOBE NEWSWIRE) — LyondellBasell (NYSE: LYB) today announced that it has successfully completed the sale of select European olefins and polyolefins assets, and the associated business and corporate functions, to AEQUITA as a key milestone in the company’s European strategic assessment. The transaction follows completion of required employee information and consultation processes and satisfaction of customary regulatory and closing conditions.

The divestiture supports the company’s strategy to grow and upgrade the core by further concentrating on assets and businesses with durable competitive advantages and stronger long-term returns, while enhancing financial flexibility and supporting disciplined capital allocation.

The assets sold in the transaction are located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain). LYB will continue to operate its Advanced Polymer Solutions (APS) business in Tarragona.

“This transaction represents a pivotal achievement in our transformation,” said Peter Vanacker, chief executive officer of LyondellBasell. “By finalizing this sale, we have refined our portfolio and enhanced our capacity to allocate capital toward high-return opportunities that contribute to long-term value creation.”

Vanacker added, “Europe remains an integral market for LYB; we will continue to invest where value creation is strong, reinforcing our leadership in specialty polymers, building a profitable Circular & Low Carbon Solutions business, and advancing our leadership in technology and innovation. We extend our gratitude to our colleagues transferring as part of this transaction for their contributions, professionalism, and resilience throughout the process. As they transition to a standalone business under AEQUITA ownership, we wish them and the new company success in the next chapter ahead.”

Following today’s closing, the divested business will be named and operated as Velogy.

“This closing marks an important step in building a scaled and competitive European polymers platform, a sector where we see strong fundamentals and attractive long-term value creation potential,” said Dr.-Ing. Axel Geuer, AEQUITA-Founder and Chairman. “We thank LyondellBasell for the constructive collaboration throughout the process and are excited to begin the next step of partnering with Velogy’s employees to reinforce and further enhance the Company’s leading services to customers and suppliers.”

LYB remains committed to operating its remaining assets safely and reliably and to continuing to serve customers and partners with the same high standards.

Advisors
Citi and J.P. Morgan Securities LLC acted as financial advisors, and Linklaters LLP acted as legal counsel to LyondellBasell.

About LyondellBasell
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors, and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About AEQUITA
AEQUITA is a Munich-based industrial group investing in corporate carve-outs, succession situations, and transformational opportunities across Europe, North America, and Asia. Its portfolio companies generate more than EUR 10 billion in revenues across three segments — automotive, chemicals, and industrials — and employ over 19,000 people worldwide. Backed by a strong capital base and deep operational expertise, AEQUITA acquires and sustainably develops companies with long-term value creation potential. For more information, visit www.aequita.com.

Media Inquiries LYB Global
LyondellBasell Media Relations
Phone: +1-713-309-7575
Email: [email protected]
Or:
Media Inquiries LYB Europe
Esther Clason, Communications EMEAI
Phone: +31 6 388 269 30
Email: [email protected]

Media Inquiries AEQUITA SE & Co. KGaA
Kolja Hübner, Partner
Gabrielenstr. 9, 80636 Munich
Phone: +49 89 2620 4840-0
Email: [email protected]

Forward-Looking Statements LYB
The statements in this release relating to matters that are not historical facts are forward-looking statements. Actual results could differ materially based on factors including, but not limited to, our ability to align our asset base with our strategic goals; our ability to create long-term value for our stakeholders; and our ability to build a profitable Circular & Low Carbon Solutions business. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2025, which can be found at www.LyondellBasell.com on the Investors page and on the Securities and Exchange Commission’s website at www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change, except as required by law.

May 1, 2026 5:03 am

Magna Announces Strong First Quarter Results; Maintains Positive Outlook for 2026

Highlights
⁽¹⁾

Delivered strong first-quarter 2026 results, reflecting sales growth, disciplined execution, and improved operating performance.

Sales increased 3% to $10.4 billion, despite a 7% decline in global light vehicle production
Income from operations before income taxes was $87 million, including a $485 million loss on assets held for sale related to the announced dispositions of our Lighting and Rooftop Systems businesses within Power & Vision
Adjusted EBIT increased 58% to $558 million, with Adjusted EBIT margin expanding 190 basis points to 5.4%
Diluted loss per share was $0.04; Adjusted EPS increased 77% to $1.38
Returned $575 million to shareholders through share repurchases and dividends
2026 Outlook largely unchanged

AURORA, Ontario, May 01, 2026 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31, 2026.

Please click HERE for full first quarter MD&A and Financial Statements.

“We delivered a strong start to 2026, driven by disciplined execution, margin expansion and robust free cash flow generation.
Our actions to further refine our portfolio, including the announced dispositions within Power & Vision, reinforce our focus on long-term value creation.

As we move forward, we are maintaining our positive 2026 outlook, and our priorities remain clear: expanding margins, generating strong free cash flow and returning capital to shareholders, while navigating a dynamic global environment.”

– Swamy Kotagiri, Magna’s Chief Executive Officer

	THREE MONTHS ENDED
	March 31, 2026			March 31, 2025
Reported
Sales	$	10,381		$	10,069
Income from operations before income taxes		87			225
Net (loss) income attributable to Magna International Inc.		(12	)		146
Diluted (loss) earnings per share		(0.04	)		0.52

Non-GAAP Financial Measures ⁽¹⁾
Adjusted EBIT	$	558		$	354
Adjusted EPS		1.38			0.78
Free Cash Flow		372			(313	)

All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars
⁽¹⁾	^{Adjusted EBIT, Adjusted EPS, and Free Cash Flow are Non-GAAP financial measures that have no standardized meaning under U.S. GAAP, and as a result may not be comparable to the calculation of similar measures by other companies. Further information and a reconciliation of these Non-GAAP financial measures is included in the back of this press release.}

THREE MONTHS ENDED MARCH 31, 2026

We posted sales of $10.4 billion for the first quarter of 2026, an increase of 3% over the first quarter of 2025. The higher sales largely reflects:

the net strengthening of foreign currencies against the U.S. dollar, which increased reported U.S. dollar sales by $520 million; and
the launch of new programs during or subsequent to the first quarter of 2025, including complete vehicle programs with value-added contractual arrangements.

These factors were partially offset by:

the end of production of certain programs;
lower light vehicle production in North America, Europe and China;
lower complete vehicle assembly volumes with full-cost contractual arrangements;
lower engineering revenue, primarily in our Complete Vehicles segment; and
net customer price concessions subsequent to the first quarter of 2025.

Adjusted EBIT increased to $558 million for the first quarter of 2026 compared to $354 million for the first quarter of 2025, primarily due to:

productivity and efficiency improvements, including the benefit of operational excellence initiatives and prior restructuring actions;
higher equity income, including a favourable commercial item in our Power & Vision segment;
lower warranty costs;
net transactional foreign exchange gains in the first quarter of 2026, compared to net transactional foreign exchange losses in the first quarter of 2025;
the net strengthening of foreign currencies against the U.S. dollar, which had a favourable impact on reported U.S. dollar Adjusted EBIT; and
net commercial items, which had a favourable impact on a year-over-year basis.

These factors were partially offset by:

higher net tariff costs;
reduced earnings on lower local currency sales, including engineering revenue; and
net unfavourable product mix.

Income from operations before income taxes was $87 million in the first quarter of 2026, down $138 million or 61% compared to the first quarter of 2025. Income from operations before income taxes includes Other expense, net⁽²⁾ and Amortization of acquired intangible assets totaling $434 million and $79 million in the first quarters of 2026 and 2025, respectively. The most significant item in Other expense, net in the first quarter of 2026 was a loss on assets held for sale related to the announced dispositions of our Lighting and Rooftop business of $485 million (pre-tax). Excluding Other expense, net and Amortization of acquired intangible assets from both periods, income from operations before income taxes in the first quarter of 2026 increased $217 million or 71% compared to the first quarter of 2025, largely reflecting the increase in Adjusted EBIT.

Net (loss) income attributable to Magna International Inc. was a loss of $12 million for the first quarter of 2026 compared to income of $146 million in the first quarter of 2025. Excluding Other expense, net, after tax and Amortization of acquired intangibles from both periods, net income attributable to Magna International Inc. was $386 million in the first quarter of 2026 compared to $219 million in the first quarter of 2025.

⁽²⁾
^{Other expense, net is comprised of loss on assets held for sale, restructuring activities, and (gain) loss on investments, during the three months ended March 31, 2026 & 2025. A reconciliation of these Non-GAAP financial measures is included in the back of this press release.}

Diluted (loss) earnings per share was a loss of $0.04 in the first quarter of 2026, compared to earnings of $0.52 in the comparable period. Adjusted EPS was $1.38, compared to $0.78 for the first quarter of 2025, an increase of 77%. The increase in Adjusted EPS primarily reflects the impact of higher adjusted EBIT.

In the first quarter of 2026, we generated cash from operations of $677 million. Free Cash Flow was $372 million in the period, including balance sheet-related customer recoveries for contract adjustments associated with certain electric vehicle programs in North America.

RETURN OF CAPITAL TO SHAREHOLDERS AND OTHER MATTERS

We paid dividends of $135 million and repurchased 7.6 million shares for $440 million for the three months ended March 31, 2026. As of March 31, 2026, there are 16.7 million remaining shares available for repurchase under our current Normal Course Issuer Bid authorization.

Our Board of Directors declared a first quarter dividend of $0.495 per Common Share. The dividend is payable on May 29, 2026 to shareholders of record as of the close of business on May 15, 2026.

SEGMENT SUMMARY

($Millions)	THREE MONTHS ENDED MARCH 31,
($Millions)	Sales									Adjusted EBIT
		2026			2025		Change				2026			2025		Change
Body Exteriors & Structures	$	4,079		$	3,966		$	113		$	274		$	230		$	44
Power & Vision		3,881			3,646			235			252			124			128
Seating Systems		1,340			1,312			28			25			(30	)		55
Complete Vehicles		1,224			1,276			(52	)		32			44			(12	)
Corporate and Other		(143	)		(131	)		(12	)		(25	)		(14	)		(11	)
Total Reportable Segments	$	10,381		$	10,069		$	312		$	558		$	354		$	204

	THREE MONTHS ENDED MARCH 31,
	Adjusted EBIT as a percentage of sales
	2026		2025		Change
Body Exteriors & Structures	6.7	%	5.8	%	0.9	%
Power & Vision	6.5	%	3.4	%	3.1	%
Seating Systems	1.9	%	(2.3	)%	4.2	%
Complete Vehicles	2.6	%	3.4	%	(0.8	)%
Consolidated Average	5.4	%	3.5	%	1.9	%

For further details on our segment results, please see our Management’s Discussion and Analysis of Results of Operations and Financial Position and our Interim Financial Statements.

2026 OUTLOOK

Our full year Outlook for 2026 is provided annually, with quarterly updates. The following Outlook is an update to our previous Outlook in February 2026.

Updated 2026 Macro Assumptions

	Current	Previous
Light Vehicle Production (millions of units)
North America Europe China	14.9 16.6 32.0	15.0 16.8 32.0

Average Foreign exchange rates:
1 Canadian dollar equals 1 euro equals	U.S. $0.730 U.S. $1.178	U.S. $0.720 U.S. $1.160

Updated 2026 Outlook

	Current	Previous
Segment Sales
Body Exteriors & Structures Power & Vision Seating Systems Complete Vehicles	$16.6 – $17.2 billion $15.6 – $16.0 billion $5.4 – $5.7 billion $4.4 – $4.7 billion	$16.6 – $17.2 billion $15.9 – $16.3 billion $5.4 – $5.7 billion $4.4 – $4.7 billion
Total Sales	$41.5 – $43.1 billion	$41.9 – $43.5 billion

Adjusted EBIT Margin⁽³⁾	6.0% – 6.6%	6.0% – 6.6%

Adjusted EPS⁽⁴⁾	$6.25 – $7.25	$6.25 – $7.25

Free Cash Flow⁽⁵⁾	$1.6 – $1.8 billion	$1.6 – $1.8 billion

Capital Spending	$1.5 – $1.6 billion	$1.5 – $1.6 billion

Equity Income (included in EBIT)	$160 – $195 million	$160 – $195 million

Interest Expense, net	Approximately $165 million	Approximately $180 million

Income Tax Rate⁽⁶⁾	Approximately 23%	Approximately 23%

Weighted average diluted shares outstanding	Approximately 270 million	Approximately 270 million

Notes: ^{(3) Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales. Refer to the reconciliation of Non-GAAP financial measures in the back of this press release for further information.} ^{(4) Adjusted EPS represents Adjusted Net Income attributable to Magna divided by the Diluted weighted average number of Common Shares outstanding during the period.} ^{(5) Refer to the reconciliation of Non-GAAP financial measures in the back of this press release for further information on Free Cash Flow.} ^{(6) The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation}

Our Outlook is intended to provide information about management’s current expectations and plans and may not be appropriate for other purposes. Although considered reasonable by Magna as of the date of this document, the 2026 Outlook above and the underlying assumptions may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth herein. The risks identified in the “Forward-Looking Statements” section below represent the primary factors which we believe could cause actual results to differ materially from our expectations.

KEY DRIVERS OF OUR BUSINESS

Our business and operating results are dependent on light vehicle production by our customers in three key regions – North America, Europe, and China. While we supply systems and components to many OEMs globally, we do not supply systems and components for every vehicle, nor is the value of our content consistent from one vehicle to the next. As a result, customer and program mix relative to market trends, as well as the value of our content on specific vehicle production programs, are also important drivers of our results.

Ordinarily, OEM production volumes are aligned with vehicle sales levels and thus affected by changes in such levels. Aside from vehicle sales levels, production volumes are typically impacted by a range of factors, including: geopolitical factors, such as military conflicts and tariffs; supply chains, including disruption to supply of and/or increased costs of steel, aluminum, resin, and energy supplies, as well as semiconductor and memory (DRAM) chips; OEM, supplier or sub-supplier disruptions; relative currency values; commodity prices; labour disruptions, as well as the availability and relative cost of skilled labour; regulatory frameworks; and other factors.

Overall vehicle sales levels are significantly affected by changes in consumer confidence levels, which may in turn be impacted by consumer perceptions and general trends related to the job, housing, and stock markets, as well as other macroeconomic and political factors. Other factors which typically impact vehicle sales levels and thus production volumes include: vehicle affordability; interest rates and/or availability of credit; fuel and energy prices; relative currency values; and considerations applicable to EVs, including EV range, charging infrastructure, and electricity pricing.

NON-GAAP FINANCIAL MEASURES RECONCILIATION

In addition to the financial results reported in accordance with U.S. GAAP, this press release contains references to the Non-GAAP financial measures reconciled below. We believe the Non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company’s financial position and results of operations, and to improve comparability between fiscal periods. In particular, management believes that Adjusted EBIT and Adjusted diluted earnings per share are useful measures in assessing the Company’s financial performance by excluding certain items that are not indicative of the Company’s core operating performance. Management also believes that Free Cash Flow is a useful measure in assessing the Company’s ability to generate cash to maintain operations and repay its debt. The presentation of Non-GAAP financial measures should not be considered in isolation, or as a substitute for the Company’s related financial results prepared in accordance with U.S. GAAP.

The following table reconciles Net income to Adjusted EBIT:

*Adjusted EBIT*

	For the three months ended March 31,
		2026			2025

Net (Loss) Income	$	(1	)	$	153
Add:
Amortization of acquired intangible assets		19			26
Interest expense, net		37			50
Other expense, net		415			53
Income taxes		88			72
Adjusted EBIT	$	558		$	354

*Adjusted EBIT as a percentage of sales (* “ *Adjusted EBIT Margin* “ )

	For the three months ended March 31,
		2026			2025

Sales	$	10,381		$	10,069
Adjusted EBIT	$	558		$	354
Adjusted EBIT as a percentage of sales		5.4	%		3.5	%

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONTINUED)

*Adjusted EPS*

	For the three months ended March 31,
		2026			2025

Net (loss) income attributable to Magna International Inc.	$	(12	)	$	146
Add (deduct):
Amortization of acquired intangible assets		19			26
Tax effect on Amortization of acquired intangible assets		(2	)		(5	)
Other expense, net		415			53
Tax effect on Other expense, net		(34	)		(1	)
Adjusted net income attributable to Magna International Inc.	$	386		$	219

Diluted weighted average number of common shares outstanding during the period (millions):		278.1			282.0
Adjusted Dilutive impact of stock option and share awards^[i]		1.8			—
Adjusted diluted weighted average number of common shares outstanding during the period (millions):		279.9			282.0

Adjusted EPS	$	1.38		$	0.78

^[i]

During the first quarter of 2026, the Company generated Adjusted net Income attributable to Magna International Inc. while reporting a net loss attributable to Magna International Inc. As a result, certain stock-based compensation awards are dilutive for adjusted diluted earnings per share and are included in the adjusted diluted weighted average number of Common Shares outstanding. The dilutive impact was determined using the treasury stock method.

The following table reconciles Cash provided from operating activities to Free Cash Flow:

*Free Cash Flow*

	For the three months ended March 31,
		2026			2025


Cash provided from operating activities	$	677		$	77
Add (deduct):
Fixed asset additions		(219	)		(268	)
Increase in investment, other assets, and intangible assets		(168	)		(148	)
Proceeds from disposition		82			26
Free Cash Flow	$	372		$	(313	)

Certain of the forward-looking financial measures above are provided on a Non-GAAP basis. We do not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP. To do so would be potentially misleading and not practical given the difficulty of projecting items that are not reflective of ongoing operations in any future period. The magnitude of these items, however, may be significant.

This press release, together with our Management’s Discussion and Analysis of Results of Operations and Financial Position and our Interim Financial Statements, are available in the Investor Relations section of our website at www.magna.com/company/investors and filed electronically through the System for Electronic Document Analysis and Retrieval + (SEDAR+) which can be accessed at www.sedarplus.ca as well as on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at www.sec.gov.

We will hold a conference call for interested analysts and shareholders to discuss our first quarter ended March 31, 2026 results on Friday, May 1, 2026 at 8:00 a.m. ET. The conference call will be chaired by Swamy Kotagiri, Chief Executive Officer. The number to use for this call from North America is 1-800-715-9871. International callers should use 1-646-307-1963. Please call in at least 10 minutes prior to the call start time. We will also webcast the conference call at www.magna.com. The slide presentation accompanying the conference call as well as our financial review summary will be available on our website Friday prior to the call.

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected] │ 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate Communications & PR
[email protected] │ 248.761.7004

TELECONFERENCE CONTACT

Nancy Hansford, Executive Assistant, Investor Relations
[email protected] │ 905.726.7108

ABOUT MAGNA

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets—North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle system technologies to deliver performance, safety, and quality.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”). Any such forward-looking statements are intended to provide information about management’s current expectations and plans and may not be appropriate for other purposes. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, strategic objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact. We use words such as “may”, “would”, “could”, “should”, “will”, “likely”, “expect”, “anticipate”, “assume”, “believe”, “intend”, “plan”, “aim”, “forecast”, “outlook”, “project”, “potential”, “estimate”, “target” and similar expressions suggesting future outcomes or events to identify forward-looking statements. The following table identifies the material forward-looking statements contained in this document, together with the material potential risks that we currently believe could cause actual results to differ materially from such forward-looking statements. Readers should also consider all of the risk factors which follow below the table:

Material Forward-Looking Statement	Material Potential Risks Related to Applicable Forward-Looking Statement
Light Vehicle Production	Light vehicle sales levels, including due to: A decline in consumer confidence Economic uncertainty Elevated interest rates and availability of consumer credit Deteriorating vehicle affordability Tariffs and/or other actions that erode free trade agreements Production deferrals, cancellations and volume reductions Production and supply disruptions Commodities prices Availability and relative cost of skilled labour
Total Sales Segment Sales	Same risks as for Light Vehicle Production above Alignment of our product mix with production demand Supply disruptions, including as a result of semiconductor and memory (DRAM) chip shortages Customer concentration Pace of EV adoption, including North American electric vehicle program deferrals, cancellations and volume reductions Shifts in market shares among OEMs, vehicles and/or vehicle segments Shifts in consumer “take rates” for products we sell Relative currency values
Adjusted EBIT Margin Adjusted Diluted EPS Free Cash Flow	Same risks as for Total Sales and Segment Sales above Execution of critical program launches Operational underperformance Product warranty/recall risks Production inefficiencies Unmitigated incremental tariff costs Restructuring costs and/or impairment charges Inflation Ability to secure planned cost recoveries from our customers and/or otherwise offset higher input costs Price concessions Commodity cost volatility Scrap steel price volatility
Equity Income	Same risks as Adjusted EBIT Margin above Risks related to conducting business through joint ventures Risks of doing business in foreign markets Legal and regulatory proceedings Changes in law
Share Repurchases Weighted Average Diluted Shares Outstanding	Same risks impacting Free Cash Flow above Ability to repurchase shares for cancellation, including due to normal course issuer bid rules, trading blackouts, and other factors

Forward-looking statements are based on information currently available to us and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. While we believe we have a reasonable basis for making any such forward-looking statements, they are not a guarantee of future performance or outcomes. In addition to the factors in the table above, whether actual results and developments conform to our expectations and predictions is subject to a number of risks, assumptions, and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict, including, without limitation:

Macroeconomic, Geopolitical and Other Risks

geopolitical crises and military conflicts;
threats to free trade agreements;
international trade disputes;
planning and forecasting challenges;
interest rates and availability of consumer credit;

Risks Related to the Automotive Industry

pace of EV adoption;
North American EV program deferrals, cancellations and volume reductions;
economic cyclicality;
regional production volumes;
deteriorating vehicle affordability;
intense competition;

Strategic Risks

evolution of the vehicle;
evolving business risk profile;
technology and innovation;
investments in mobility and technology companies;

Customer-Related Risks

customer concentration;
market shifts;
evolving OEM competitive landscape;
dependence on outsourcing;
consumer take rate shifts;
nature of customer blanket purchase orders;
potential OEM production-related disruptions;

Supply Chain Risks

supply chain disruptions;
regional energy supply and pricing;
financial condition of supply base;
supplier claims;

Manufacturing/Operational Risks

product launch;
operational underperformance;
restructuring costs;
impairments;
skilled labour attraction/retention;

Pricing Risks

quote/pricing assumptions;
customer pricing pressure/contractual arrangements;
commodity price volatility;
scrap steel/aluminum price volatility;

Warranty/Recall Risks

repair/replacement costs;
warranty provisions;
product liability;

IT Security/Cybersecurity Risks

IT/cybersecurity breach;
product cybersecurity breach;
risks related to the use of artificial intelligence;

Merger and Acquisition Risks

inherent merger and acquisition risks;
acquisition integration and synergies;

Other Business Risks

joint ventures;
intellectual property;
risks of doing business in foreign markets;
tax risks;
relative foreign exchange rates;
returns on capital investments;
financial flexibility;
credit ratings changes;
stock price fluctuation;

Legal, Regulatory and Other Risks

legal and regulatory proceedings; and
changes in laws.

In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement. Additionally, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements, including the risks, assumptions and uncertainties above which are:

discussed under the “Industry Trends and Risks” heading of our Management’s Discussion and Analysis; and
set out in our Annual Information Form filed with securities commissions in Canada, our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings.

Readers should also consider discussion of our risk mitigation activities with respect to certain risk factors, which can be also found in our Annual Information Form. Additional information about Magna, including our Annual Information Form, is available through the System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.ca, as well as on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at www.sec.gov.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aae520f0-3636-48b1-a055-ac61096619dc

May 1, 2026 12:03 am

NIO Inc. Provides April 2026 Delivery Update

29,356 vehicles were delivered in April 2026, increasing by 22.8% year-over-year
112,821 vehicles were delivered year-to-date in 2026, increasing by 71.0% year-over-year
Cumulative deliveries reached 1,110,413 as of April 30, 2026

SHANGHAI, May 01, 2026 (GLOBE NEWSWIRE) — NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the global smart electric vehicle market, today announced its April 2026 delivery results.

The Company delivered 29,356 vehicles in April 2026, representing an increase of 22.8% year-over-year. The deliveries consisted of 19,024 vehicles from the Company’s premium smart electric vehicle brand NIO, 5,352 vehicles from the Company’s family-oriented smart electric vehicle brand ONVO, and 4,980 vehicles from the Company’s small smart high-end electric car brand FIREFLY. Cumulative deliveries reached 1,110,413 as of April 30, 2026.

On April 23, 2026, the NIO All-New ES8 reached a milestone of 100,000 cumulative deliveries within 215 days, setting a new record for delivery performance among premium passenger vehicles priced above RMB 400,000 in China. This achievement further underscores the NIO All-New ES8’s leading position in the premium battery electric SUV segment.

On April 9, 2026, NIO’s flagship executive SUV, the ES9, officially commenced pre-sales. As the culmination of over a decade of technological innovation, the ES9 redefines the benchmark for flagship SUVs through its signature design, exceptional space, advanced intelligence, refined comfort, and comprehensive safety. The ES9, featuring over 40 industry-first technologies and nearly 40 class-leading configurations, is set to usher in the era of battery electric vehicles for executive flagship SUVs.

On April 28, 2026, ONVO officially commenced the pre-sale of its flagship large five-seat SUV, the L80. Fully equipped with ONVO’s latest flagship technologies in spatial engineering, vehicle safety, and lightweight design, the L80 sets a new benchmark as China’s five-seat SUV with the largest trunk space and outstanding versatility. Leveraging technological innovation to redefine user experience, the L80 will expand the addressable scenarios of large five-seat SUVs, accompanying families on every journey of joy.

About NIO Inc.

NIO Inc. is a pioneer and a leading company in the global smart electric vehicle market. Founded in November 2014, NIO aspires to shape a sustainable and brighter future with the mission of “Blue Sky Coming”. NIO envisions itself as a user enterprise where innovative technology meets experience excellence. NIO designs, develops, manufactures and sells smart electric vehicles, driving innovations in next-generation core technologies. NIO distinguishes itself through continuous technological breakthroughs and innovations, exceptional products and services, and a community for shared growth. NIO provides premium smart electric vehicles under the NIO brand, family-oriented smart electric vehicles through the ONVO brand, and small smart high-end electric cars with the FIREFLY brand.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the websites of each of The Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore Exchange Securities Trading Limited (the “SGX-ST”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture vehicles of sufficient quality and appeal to customers on schedule and on a large scale; its ability to ensure and expand manufacturing capacities including establishing and maintaining partnerships with third parties; its ability to provide convenient and comprehensive power solutions to its customers; the viability, growth potential and prospects of the battery swapping, BaaS, and NIO Assisted and Intelligent Driving and its subscription services; its ability to improve the technologies or develop alternative technologies in meeting evolving market demand and industry development; NIO’s ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of its vehicles; its ability to control costs associated with its operations; its ability to build its current and future brands; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC and the announcements and filings on the websites of each of the SEHK and SGX-ST. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit: http://ir.nio.com

Investor Relations

[email protected]

Media Relations

[email protected]

April 30, 2026 11:33 pm

ESS Partners with Alsym Energy to Deliver 8.5 GWh of Non-Lithium Battery Energy Storage Solutions

ESS Partners with Alsym Energy to Deliver 8.5 GWh of Non-Lithium Battery Energy Storage Solutions

Next Generation Sodium-ion Battery Solution Enables ESS Transition to a Full-Service BESS Platform Provider for Expanded Applications

Partnership Enables ESS to Enter the Short and Medium Duration Energy Storage Segment

WILSONVILLE, Ore. & MALDEN, Mass.–(BUSINESS WIRE)–
ESS Tech, Inc. (NYSE: GWH) (“ESS” or the “Company”), a leading manufacturer of sustainable, long‑duration energy storage systems (“LDES”), today announced the signing of a letter of intent for a strategic partnership with Alsym Energy, a pioneer in non-flammable, high-performance sodium-ion batteries, to add 8.5 GWh of sodium‑ion cells and modulesto its portfolio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430967185/en/

This next‑generation battery solution is designed to address use cases traditionally served by lithium‑ion systems – and those where lithium cannot go – but without the inherent thermal run-away risks associated with lithium chemistries.

This partnership marks ESS’s entry into the short‑ and medium‑duration BESS (“Battery Energy Storage System”) segment, a market historically dominated by lithium-ion. It meaningfully expands the Company’s addressable market beyond its established position in long-duration storage. The Alsym sodium-ion technology virtually eliminates thermal runaway risk and lowers total cost of ownership. In addition, the solutiondoes not require complex HVAC systems, demonstrates high round trip efficiency, employs fast charge and discharge capabilities and offers a simpler, safer deployment profile for customers seeking superior stationary storage solutions.

“Sodium-ion and iron flow are complementary technologies,” said Drew Buckley, Chief Executive Officer of ESS. “Alsym’s sodium-ion Na-Series is an ideal solution for ESS’s short- and medium-duration applications where high power, fast cycling, and rapid response are paramount. ESS’s existing Energy Base® iron flow platform is engineered for the 8–24 hour long-duration segment, where deep daily cycling, 25-year asset life, and zero capacity degradation deliver the lowest levelized cost of storage. Together, the two chemistries form a unified, non-lithium platform that enables ESS to meet customers’ full storage needs from a single trusted provider, whether the application calls for firming renewables over a few hours, shifting energy across a full day, or pairing both within a single project to optimize economics across the full duration curve.”

Randall Selesky, Chief Commercial Officer at ESS, added, “This partnership represents a major milestone in our strategy to become a full-spectrum, non-lithium solutions provider for the entire energy storage market with safer, more sustainable technologies. By combining Alsym’s high performance, non-flammable sodium‑ion technology with ESS’ systems expertise and Energy Base® long‑duration solutions, we are giving customers a clear pathway beyond lithium‑ion — without compromising performance or economics.

“Unlike lithium‑ion batteries and many other sodium-ion batteries, Alsym’s Na-Series batteries are non‑combustible and thermally stable, reducing system complexity, improving safety, and lowering total cost of ownership by reducing the need for extensive fire suppression and HVAC infrastructure. Alsym’s Na-Series has been developed using a proprietary, physics-informed AI platform for battery development that dramatically shortens the time to bring innovation to the market. The batteries utilize non-foreign entity of concern (“FEOC”) sourced materials and provide integrators and OEMs with a safe, cost-effective, supply-secure battery solution,” Selesky concluded.

Mukesh Chatter, Chief Executive Officer for Alsym Energy, commented, “ESS is a leading innovator in stationary storage, and we are very pleased to be partnering with them. As demand grows, it is increasingly clear that the industry needs solutions beyond lithium-ion to meet the speed and scale projections. By combining high performance, inherent safety, and supply chain resilience, Alsym’s Na-Series delivers that capability and ESS brings deep experience delivering grid-scale systems that maximize the value of renewable energy. Together, we are enabling a better path forward for energy storage.”

With the combined sodium-ion and iron-flow platform, ESS is positioned to support utilities, IPPs, data centers, and C&I customers seeking American-made, flexible, and future‑proof energy storage solutions across a wide range of applications.

About ESS Tech, Inc.

ESS (NYSE: GWH) is the leading manufacturer of long-duration iron flow energy storage solutions. ESS was established in 2011 with a mission to accelerate decarbonization safely and sustainably through longer lasting energy storage. Using easy-to-source iron, salt, and water, ESS iron flow technology enables energy security, reliability and resilience. We build flexible storage solutions that allow our customers to meet increasing energy demand without power disruptions and maximize the value potential of excess energy. For more information visit www.essinc.com.

About Alsym Energy

Alsym Energy is enabling a safer, scalable energy future by rethinking battery chemistry. The company’s flagship Na-Series are non-flammable, high-performance, low cost sodium-ion batteries made with earth abundant materials. They are designed using a proprietary, physics-informed AI platform that enables the discovery of materials and commercially viable chemistries 10x faster than traditional, trial and error experiment-only methods. By combining DeepTech expertise in batteries with physics-informed AI, the platform is a closed-loop system that accelerates the entire battery development process, from ideation to manufacturing. Alysm’s Na-Series technology eliminates thermal runaway and allows energy storage to be deployed safely, and at scale, anywhere energy storage is needed — from data centers and industrial facilities to residential buildings, commercial real estate, mining, military installations or utility grids. Its wide operating temperature range avoids the need for HVAC systems for safety or performance, and fast charge and discharge rates allow multiple cycles per day, creating a powerful economic model for energy storage systems. Alsym Na-Series: A better battery for energy storage.

To learn more, visit: alsym.com

Forward-Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company and other matters that involve substantial risks and uncertainties. These statements may discuss the management team’s goals, beliefs, hopes, intentions and expectations as to future plans, trends, events, results of operations and financial condition, or otherwise, based on current beliefs of the management of the Company, as well as assumptions made by, and information currently available to, the Company’s management. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would,” or, in each case, their negative or other variations or comparable terminology may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include our anticipated growth strategies and anticipated trends in our business. Examples of forward-looking statements include, among others, statements pertaining to market opportunities for ESS’ products, pace of commercial activity, ESS product development and manufacturing, and relationships with strategic partners and customers. These forward-looking statements are based on ESS’ current expectations and beliefs concerning future developments and their potential effects on ESS. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. There can be no assurance that the future developments affecting ESS will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond ESS control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, barriers we face in our attempts to produce our energy storage products; our products being in the early stage of commercialization and aspects of our technology not having been fully field tested; our inability to develop our business and effectively commercialize our energy storage products; our dependence on third-party suppliers; delays in our manufacturing operations; and other risks and uncertainties described more fully in the section titled “Risk Factors” in the Company’s Quarterly Report on Form 10-K filed on March 5, 2026, and the Company’s other filings with the U.S. Securities and Exchange Commission. Except as required by law, ESS is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430967185/en/

Media Contact

Shiyun Fu

Antenna Group for Alsym

[email protected]

Company

[email protected]

Investor Relations

Chris Tyson

Executive Vice President

MZ Group – MZ North America

Phone: (949) 491-8235

[email protected]

www.mzgroup.us

KEYWORDS: Oregon Massachusetts United States India North America Asia Pacific

INDUSTRY KEYWORDS: Other Energy Utilities Sustainability Batteries Alternative Energy Energy Technology Artificial Intelligence Environment Green Technology Engineering Manufacturing

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Posted on April 30, 2026 11:12 pm
Amkor Technology Prices $1,000 Million Convertible Senior Notes Offering

Amkor Technology Prices $1,000 Million Convertible Senior Notes Offering

TEMPE, Ariz–(BUSINESS WIRE)–
Amkor Technology, Inc. (Nasdaq: AMKR) today announced the pricing of its offering of $1,000,000,000 aggregate principal amount of 0.00% convertible senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The notes will be fully and unconditionally guaranteed, on a senior, unsecured basis, by each subsidiary of Amkor that currently or in the future guarantees its 5.875% senior notes due 2033 (the “guarantors”). The issuance and sale of the notes are scheduled to settle on May 5, 2026, subject to customary closing conditions. Amkor also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $150,000,000 aggregate principal amount of notes.

The notes will be senior, unsecured obligations of Amkor. The notes will not bear regular interest, and the principal amount of notes will not accrete. The notes will mature on July 15, 2031, unless earlier repurchased, redeemed or converted. Before April 15, 2031, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after April 15, 2031, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Amkor will settle conversions in cash and, if applicable, shares of its common stock. The initial conversion rate is 9.4013 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $106.37 per share of common stock. The initial conversion price represents a premium of approximately 52.5% over the last reported sale price of $69.75 per share of Amkor’s common stock on April 30, 2026. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.

The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Amkor’s option at any time, and from time to time, on or after May 15, 2029 and on or before the 20th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Amkor’s common stock exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid special and additional interest, if any, to, but excluding, the redemption date.

If a “fundamental change” (as defined in the indenture for the notes) occurs, then, subject to a limited exception, noteholders may require Amkor to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid special and additional interest, if any, to, but excluding, the applicable repurchase date.

Amkor estimates that the net proceeds from the offering will be approximately $981.7 million (or approximately $1,129.0 million if the initial purchasers fully exercise their option to purchase additional notes), after deducting the initial purchasers’ discounts and commissions and Amkor’s estimated offering expenses. Amkor intends to use $49.0 million of the net proceeds to fund the cost of entering into the capped call transactions described below. Amkor intends to use the remainder of the net proceeds from the offering for general corporate purposes, including capital expenditures. If the initial purchasers exercise their option to purchase additional notes, then Amkor intends to use a portion of the additional net proceeds to fund the cost of entering into additional capped call transactions as described below.

In connection with the pricing of the notes, Amkor entered into privately negotiated capped call transactions with one or more of the initial purchasers or their affiliates and/or one or more other financial institutions (the “option counterparties”). The capped call transactions will cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of shares of Amkor’s common stock underlying the notes. If the initial purchasers exercise their option to purchase additional notes, then Amkor expects to enter into additional capped call transactions with the option counterparties.

The cap price of the capped call transactions will initially be $139.50 per share, which represents a premium of 100.0% over the last reported sale price of Amkor’s common stock of $69.75 per share on April 30, 2026, and is subject to certain adjustments under the terms of the capped call transactions.

The capped call transactions are expected generally to reduce the potential dilution to Amkor’s common stock upon any conversion of the notes and/or offset any potential cash payments Amkor is required to make in excess of the principal amount of converted notes, as the case may be, upon conversion of the notes. If, however, the market price per share of Amkor’s common stock, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions.

In connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to Amkor’s common stock and/or purchase shares of Amkor’s common stock concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Amkor’s common stock or the notes at that time.

In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Amkor’s common stock and/or purchasing or selling Amkor’s common stock or other securities of Amkor in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so (x) during any observation period related to a conversion of notes or following any repurchase of notes by Amkor in connection with any redemption or fundamental change, (y) following any repurchase of the notes by Amkor other than in connection with any redemption or fundamental change if Amkor elects to unwind a corresponding portion of the capped call transaction in connection with such repurchase and (z) if Amkor otherwise unwinds all or a portion of the capped call transactions). This activity could also cause or avoid an increase or decrease in the market price of Amkor’s common stock or the notes, which could affect the ability to convert the notes, and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares, if any, and value of the consideration that noteholders will receive upon conversion of the notes.

The offer and sale of the notes, the guarantees and any shares of common stock issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of common stock issuable upon conversion of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.

About Amkor Technology, Inc.

Amkor Technology, Inc. (Nasdaq: AMKR) is the world’s largest U.S. headquartered OSAT and is a global leader in outsourced semiconductor packaging and test services. With a strong track record of innovation, a broad and diverse geographic footprint and solid partnerships with lead customers, Amkor delivers high-quality solutions that enable the world’s leading semiconductor and electronics companies to bring advanced technologies to market. The company’s comprehensive portfolio includes advanced packaging, wafer-level processing, and system-in-package solutions targeting applications for smartphones, data centers, artificial intelligence, automobiles and wearables.

Forward-Looking Statement Disclaimer

This press release includes forward-looking statements, including statements regarding the completion of the offering, the expected amount and intended use of the net proceeds and the effects of entering into the capped call transactions described above. Forward-looking statements represent Amkor’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, the satisfaction of the closing conditions related to the offering and risks relating to Amkor’s business, including those described in periodic reports that Amkor files from time to time with the Securities and Exchange Commission. Amkor may not consummate the offering described in this press release and, if the offering is consummated, cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and Amkor does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430630276/en/

Investor Relations

Jennifer Jue

Vice President, Investor Relations

480-786-7594

[email protected]

KEYWORDS: Arizona United States North America

INDUSTRY KEYWORDS: Data Management Semiconductor Communications Apps/Applications Technology Software Public Relations/Investor Relations

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Posted on April 30, 2026 10:16 pm
McEwen Inc. and Golden Lake Exploration Inc. Announce Closing of Arrangement

TORONTO and VANCOUVER, British Columbia, April 30, 2026 (GLOBE NEWSWIRE) — McEwen Inc. (“McEwen”) (NYSE/TSX:MUX) and Golden Lake Exploration Inc. (“Golden Lake”) (CSE: GLM) (OTCQB: GOLXF) are pleased to announce the completion of the previously announced business combination between McEwen and Golden Lake by way of statutory plan of arrangement (the “Arrangement”).

Golden Lake’s principal asset is its Jewel Ridge and Jewel Ridge West projects located adjacent to McEwen’s Windfall and Lookout Mountain discoveries, part of the Gold Bar Mine Complex, in the Eureka Mining District of Nevada. Historical drill highlights from Jewel Ridge project include 2.20 gpt gold over 28.96 meters, 1.24 gpt gold over 56.39 meters, 2.37 gpt gold over 67.57 meters. These holes are located north of McEwen’s Windfall deposit, where a recent drill hole returned 5.55 gpt gold over 44.2 meters. Incorporating Golden Lake’s projects into the Gold Bar Mine Complex will help continue the mine’s transformation into a long-life operation by investing in exploration and leveraging the current McEwen infrastructure.

Under the terms of the Arrangement, each holder of common shares of Golden Lake (each, a “Golden Lake Share“) received 0.003876 McEwen common shares (each, a “McEwen Share“) for each Golden Lake Share held (the “Exchange Ratio“). In addition, pursuant to the terms of the Arrangement, all outstanding common share purchase warrants of Golden Lake (the “Golden Lake Warrants“) were cashlessly exercised and cancelled in exchange for Golden Lake Shares having a value equal to their in-the-money amount, and all outstanding convertible notes of Golden Lake (the “Golden Lake Notes“) were converted into Golden Lake Shares based on principal and accrued interest in accordance with their terms.

All issued and outstanding Golden Lake Shares (including the Golden Lake Shares issued to holders of Golden Lake Warrants and holders of Golden Lake Notes) were exchanged for McEwen Shares on the basis of the Exchange Ratio. Outstanding stock options of Golden Lake were exchanged for replacement options of McEwen on an equivalent economic basis, with adjusted exercise prices, exercisable within 90 days following the closing of the Arrangement, in accordance with the terms of Golden Lake’s stock option plan.

The shares of Golden Lake are expected to be delisted from the Canadian Securities Exchange (the “CSE“) effective as of the close of market on April 30, 2026. Golden Lake will submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate its public reporting requirements.

Information for Golden Lake Shareholders

Certificates formerly representing Golden Lake Shares now represent only the right to receive McEwen Shares to which the holders are entitled pursuant to the Arrangement.

In order to receive their McEwen Shares, registered shareholders of Golden Lake must deposit their share certificates or DRS advice(s) with a completed Letter of Transmittal, as set forth in the information circular of Golden Lake dated February 10, 2026. The Letter of Transmittal was mailed to registered shareholders together with the meeting materials for the Golden Lake meeting and it is also available on Golden Lake’s SEDAR+ profile on www.sedarplus.ca.

Golden Lake shareholders who own their shares through a broker or other intermediary should contact such broker or other intermediary regarding their receipt of McEwen Shares under the Arrangement. Further information regarding the Arrangement, including instructions on how to exchange Golden Lake Shares for McEwen Shares, is set out in the management information circular of Golden Lake dated February 10, 2026, a copy of which is available on the profile of Golden Lake on SEDAR+ at www.sedarplus.ca.

About Golden Lake

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets.

About McEwen

McEwen shares trade on both the NYSE and TSX under the ticker MUX.

McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world, the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Flin Flon in Manitoba and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.

The Company has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country’s largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million.

The Los Azules copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.

McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay™ units around the world, a technology that the Company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.

Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc.

McEwen Contact Info and Social Media

WEB SITE

SOCIAL MEDIA

www.mcewenmining.com
McEwen
Facebook:
facebook.com/mceweninc

LinkedIn:
linkedin.com/company/mceweninc

CONTACT INFORMATION
X:
X.com/mceweninc

150 King Street West Instagram:
instagram.com/mceweninc

Suite 2800, PO Box 24

Toronto, ON, Canada McEwen
Copper
Facebook:
facebook.com/ mcewencopper

M5H 1J9 LinkedIn:
linkedin.com/company/mcewencopper

X:
X.com/mcewencopper

Relationship with Investors:
Instagram:
instagram.com/mcewencopper

(866)-441-0690 – Toll free

(647)-258-0395 Rob McEwen
Facebook:
facebook.com/mcewenrob

Mihaela Iancu ext. 2006 LinkedIn:
https://www.linkedin.com/in/robert-mcewen-646ab24

[email protected]
X:
X.com/robmcewenmux

Neither the NYSE, TSX or CSE have reviewed and do not accept responsibility for the adequacy or accuracy of
the contents of this news release, which has been prepared by the management of McEwen and Golden Lake.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, statements regarding: the timing of delisting of shares of Golden Lake from the CSE, Golden Lake ceasing to be a reporting issuer, goals to have Los Azules copper become one of the world’s first regenerative copper mines and achieve carbon neutrality by 2038, and the objectives for McEwen. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. See McEwen Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and other filings with the Securities and Exchange Commission, under the caption “Risk Factors”, for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding McEwen.

McEwen and Golden Lake expressly disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Qualified Person

Technical information pertaining to the Gold Bar Complex exploration contained in this press release has been prepared under the supervision of Robert Kastelic, MSc, CPG, Exploration Manager for McEwen Inc. in Nevada, and Luke Willis, P.Geo, Director of Resource Modelling for McEwen Inc., who are Qualified Persons (QPs) as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”. Technical information disclosed in this news release pertaining to the historic Jewel Ridge drilling was reviewed and approved by Don Hoy, P. Geo., who serves as a Qualified Person as defined under National Instrument 43-101 for Golden Lake Exploration Inc.

Historical References for Exploration Drilling at Jewel Ridge

Golden Lake press release of March 23, 2022

Golden Lake corporate website

Figure 1.

McEwen and Golden Lake Property Locations, Eureka Nevada

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98c7d244-b669-438a-bf86-4bc35e561cc4

Posted on April 30, 2026 10:03 pm
Li Auto Inc. April 2026 Delivery Update

BEIJING, China, May 01, 2026 (GLOBE NEWSWIRE) — Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced that it delivered 34,085 vehicles in April 2026. As of April 30, 2026, Li Auto’s cumulative deliveries reached 1,669,442.

In April, the all-new Li L9 Livis debuted at the 2026 Beijing International Automotive Exhibition, with its official launch scheduled for May 15. The launch event will fully showcase the vehicle’s latest advancements in exterior and interior design, chassis and suspension, range extension system, safety, and intelligence.

As of April 30, 2026, the Company had 511 retail stores in 160 cities, 550 servicing centers and Li Auto-authorized servicing shops operating in 223 cities. The Company also had 4,077 super charging stations in operation equipped with 22,509 charging stalls in China.

About Li Auto Inc.

Li Auto Inc. is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is: Be Proactive, Change the World (主动积极,改变世界). Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer in successfully commercializing extended-range electric vehicles in China. While firmly advancing along this technological route, it builds platforms for battery electric vehicles in parallel. The Company leverages technology to create value for users. It concentrates its in-house development efforts on proprietary range extension systems, innovative electric vehicle technologies, and smart vehicle solutions. The Company started volume production in November 2019. Its current model lineup includes a high-tech flagship family MPV, four Li L series extended-range electric SUVs, and two Li i series battery electric SUVs. The Company will continue to expand its product lineup to target a broader user base.

For more information, please visit: https://ir.lixiang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to,” “challenges,” and similar statements. Li Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Li Auto’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Li Auto’s strategies, future business development, and financial condition and results of operations; Li Auto’s limited operating history; risks associated with extended-range electric vehicles and high-power charging battery electric vehicles; Li Auto’s ability to develop, manufacture, and deliver vehicles of high quality and appeal to customers; Li Auto’s ability to generate positive cash flow and profits; product defects or any other failure of vehicles to perform as expected; Li Auto’s ability to compete successfully; Li Auto’s ability to build its brand and withstand negative publicity; cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to develop new vehicles; and changes in consumer demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Li Auto’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and Li Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Li Auto Inc.
Investor Relations
Email: [email protected]

Christensen Advisory
Roger Hu
Tel: +86-10-5900-1548
Email: [email protected]

Posted on April 30, 2026 9:58 pm
Seaport Therapeutics Announces Pricing of Upsized Initial Public Offering

Seaport Therapeutics Announces Pricing of Upsized Initial Public Offering

BOSTON–(BUSINESS WIRE)–Seaport Therapeutics, Inc., (Nasdaq: SPTX) (“Seaport” or the “Company”), a clinical-stage therapeutics company that is inventing and developing neuropsychiatric medicines, today announced the pricing of its upsized initial public offering of 14,160,000 shares of its common stock at a price to the public of $18.00 per share, at the top of the target range. The gross proceeds to Seaport Therapeutics from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $254.9 million. All of the shares are being offered by Seaport Therapeutics. In addition, Seaport Therapeutics has granted the underwriters a 30-day option to buy an additional 2,124,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market on May 1, 2026 under the ticker symbol “SPTX.” The offering is expected to close on May 4, 2026 subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan, Leerink Partners, Citigroup, and Stifel are acting as joint book-running managers for the offering.

A registration statement relating to this offering has been filed with the Securities and Exchange Commission and was declared effective on April 30, 2026. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by emailing [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204, or by email at [email protected]; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105, or by email at [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-800-831-9146; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by emailing [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety, and other debilitating neuropsychiatric disorders. Through its differentiated approach, the Company identifies clinically validated mechanisms with established efficacy and safety which had historically been limited by high first-pass metabolism, low bioavailability, and/or side effects. Seaport applies its proprietary Glyph^TM platform to overcome those limitations and invent innovative oral therapies. With an experienced team of industry leaders, Seaport has a proven track record in neuropsychiatry drug discovery and development and delivering successful business outcomes. Seaport aims to develop novel, leading treatment options that will make a significant impact for patients and their families.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding Seaport Therapeutics’ expectations regarding the commencement of trading of its shares on the Nasdaq Global Select Market, the completion and timing of the closing of the offering and the anticipated gross proceeds from the offering. Forward-looking statements are based on Seaport Therapeutics’ current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions and the completion of the offering, and the risks inherent in biopharmaceutical product development. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” section of the registration statement filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Seaport Therapeutics undertakes no duty to update such information except as required under applicable law. Readers should not rely upon the information on this page as current or accurate after its publication date.

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Posted on April 30, 2026 9:53 pm
Senseonics Announces Pricing of $80 Million Public Offering of Common Stock and Pre-Funded Warrants

GERMANTOWN, Md., April 30, 2026 (GLOBE NEWSWIRE) — Senseonics Holdings, Inc. (NASDAQ: SENS), a medical technology company focused on the development, manufacturing and commercialization of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced the pricing of an underwritten public offering of 8,000,000 shares of common stock at a price to the public of $5.00 per share, and in lieu of common stock, to certain investors, pre-funded warrants to purchase 8,000,000 shares of common stock at a purchase price of $4.999 per pre-funded warrant share, which equals the public offering price per share of the common stock less the $0.001 exercise price per share of each pre-funded warrant. The gross proceeds to Senseonics from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $80 million. In addition, Senseonics granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on May 4, 2026, subject to satisfaction of customary closing conditions. The pre-funded warrants will not be listed on any securities exchange.

TD Cowen and Barclays are acting as joint book-running managers and Mizuho and Lake Street are acting as bookrunners for the proposed offering.

The proposed offering is being made pursuant to a “shelf” registration statement on Form S-3, including a base prospectus (File No. 333-289306) that was originally filed with the Securities and Exchange Commission (the “SEC”) on August 6, 2025 and became effective on August 18, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, by contacting TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected]; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at [email protected].

Senseonics intends to use the net proceeds from the public offering to fund the ongoing launch of Eversense 365 and continued development of pipeline products, as well as for working capital and general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Senseonics

Senseonics Holdings, Inc. (“Senseonics”) is a medical technology company focused on the development, manufacturing and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics’ CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user’s smartphone.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including without limitation statements regarding, among other things, Senseonics’ expectations about the closing date of the offering and the anticipated use of proceeds from the offering. The words “expects,” “potential,” “may,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including risks relating to Senseonics’ inability, or the inability of underwriters, to satisfy the conditions to closing for the offering; uncertainties relating to the current economic environment, market and other conditions; and other risks and uncertainties that are described in the Risk Factors section of Senseonics’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, and other filings Senseonics makes with the SEC from time to time. The events and circumstances discussed in such forward-looking statements may not occur, and Senseonics’ actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements contained in this press release speak only as of the date hereof, and Senseonics expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.

INVESTOR CONTACT:

Jeremy Feffer
LifeSci Advisors
[email protected]

Posted on April 30, 2026 9:45 pm
TRUQAP® (capivasertib)recommended by FDA Advisory Committee for PTEN-deficient metastatic hormone-sensitive prostate cancer

TRUQAP® (capivasertib)recommended by FDA Advisory Committee for PTEN-deficient metastatic hormone-sensitive prostate cancer

ODAC overwhelming majority voted that TRUQAP plus abiraterone and ADT demonstrated a favorable benefit risk profile for patients based on the CAPItello-281 Phase III trial results

First and only targeted treatment combination to demonstrate benefit in this subtype of prostate cancer addresses significant unmet patient need

WILMINGTON, Del.–(BUSINESS WIRE)–
The US Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee (ODAC) has recognized a favorable benefit risk profile for AstraZeneca’s TRUQAP^® (capivasertib) in combination with abiraterone and androgen deprivation therapy (ADT) for the treatment of patients with PTEN-deficient metastatic hormone-sensitive prostate cancer (mHSPC), based on the CAPItello-281 Phase III trial. The Committee voted 7 to 1, with 1 abstaining.

In August 2025, the FDA accepted the supplemental New Drug Application (sNDA) for TRUQAP in combination with abiraterone and ADTbased on positive results from the CAPItello-281 Phase III trial, presented at the 2025 European Society for Medical Oncology (ESMO) Congress and simultaneously published in Annals of Oncology.¹

Daniel George, MD, Director of Genitourinary Oncology at Duke Cancer Institute and investigator for the trial, said: “Patients identified to have PTEN-deficient metastatic hormone-sensitive prostate cancer have an aggressive form of the disease and currently experience poor outcomes. Their disease significantly impacts their quality of life and inevitably progresses to more advanced stages that are associated with high mortality rates. In addition to this poor prognosis, patients currently have limited treatment options, which is why today’s recommendation of the capivasertib combination is welcome news for both patients and clinicians to address an urgent need for new treatments that delay progression.”

Susan Galbraith, Executive Vice President, Oncology Haematology R&D, AstraZeneca, said: “CAPItello-281 is the first pivotal trial to prospectively define PTEN-deficient metastatic hormone-sensitive prostate cancer and its severe course of disease. The Committee’s recognition of the unmet need in patients with PTEN-deficiency and of the benefit seen with the TRUQAP combination verifies its potential to address this significant need and optimize outcomes for patients. We are committed to working closely with the FDA to bring the first and only targeted treatment option to the one in four patients with this form of metastatic hormone-sensitive prostate cancer.”

Results from the primary analysis of the CAPItello-281 Phase III trial showed a statistically significant 19% reduction in the risk of radiographic disease progression or death and a clinically meaningful improvement in median radiographic progression-free survival (rPFS) of 7.5 months with the TRUQAP combination versus treatment with abiraterone and ADT with placebo (based on a hazard ratio [HR] of 0.81; 95% confidence interval [CI] 0.66-0.98; P=0.034). Median rPFS was 33.2 months for the TRUQAP combination versus 25.7 months for the comparator arm.¹

A consistent benefit was observed with the TRUQAP combination versus treatment with abiraterone and ADT with placebo in key secondary endpoints of the trial, including prolonged time to castration resistance (29.5 vs. 22.0 months [HR 0.77; 95% CI: 0.63-0.94]) and prostate-specific antigen (PSA) progression (HR 0.73; 95% CI: 0.52-1.01), and fewer and delayed events in terms of symptomatic skeletal event-free survival (SSE-FS) (42.5 vs. 37.3 months [HR 0.82, 95% CI: 0.66-1.02]).¹

Overall survival (OS) data were immature at the time of primary analysis; however, subsequent interim results for OS numerically favored the TRUQAP combination versus the comparator arm. The trial will continue as planned to further assess OS as a key secondary endpoint.

The safety profile of TRUQAP in combination with abiraterone and ADT in CAPItello-281 was broadly consistent with the known profile of each medicine.^{Consistent with the addition of a targeted treatment to background therapy, Grade 3 or higher adverse events occurred in 67% of patients treated with the TRUQAP combination versus 40.4% of patients treated with abiraterone and ADT with placebo. The most common Grade 3 or higher adverse events in the TRUQAP arm were rash (12.3%), hyperglycemia (10.3%), hypokalemia (8.7%), diarrhea (6.2%), hypertension (5.8%) and anemia (5.2%).¹}

The ODAC provides the FDA with independent, expert advice and recommendations on marketed and investigational medicines for use in the treatment of cancer. The FDA will consider the feedback as it reviews the submission and is not bound by the Committee’s recommendation.

A regulatory application for TRUQAP in combination with abiraterone and ADT for the treatment of PTEN-deficient mHSPC is under review in the EU based on the CAPItello-281 Phase III trial.

IMPORTANT SAFETY INFORMATION ABOUT TRUQAP^®(capivasertib) tablets

TRUQAP is contraindicated in patients with severe hypersensitivity to TRUQAP or any of its components.

Hyperglycemia

Severe hyperglycemia, including diabetic ketoacidosis and fatal outcomes, can occur in patients treated with TRUQAP (n=355).

Increased fasting glucose (FG) from baseline occurred in 37% of patients treated with TRUQAP, including 11% of patients with Grade 2 (FG >160 to 250 mg/dL), 2% with Grade 3 (FG >250 to 500 mg/dL), and 1.1% with Grade 4 (FG >500 mg/dL) events. The median time to first occurrence of hyperglycemia was 15 days (range: 1 to 367). Dose reduction for hyperglycemia was required in 0.6% of patients and permanent discontinuation was required in 0.6% of patients. Diabetic ketoacidosis occurred in 0.3% of patients and diabetic metabolic decompensation in 0.6% of patients.

In CAPItello-291, 12% (43/355) of patients who received TRUQAP had an anti-hyperglycemic medication either initiated or changed during the study, including treatment with insulin in 4.8% (17/355) of patients.

The safety of TRUQAP has not been established in patients with Type I diabetes or diabetes requiring insulin. Patients with insulin-dependent diabetes were excluded from CAPItello-291.

Before initiating treatment with TRUQAP, test fasting glucose levels (fasting plasma glucose or fasting blood glucose), hemoglobin A1C (HbA1C) levels, and optimize fasting glucose. After initiating treatment with TRUQAP, monitor or self-monitor FG levels on Day 3 or 4 of the dosing week during weeks 1, 2, 4, 6, and 8; then monthly while on treatment with TRUQAP; and as clinically indicated. Monitor HbA1C levels every 3 months during treatment with TRUQAP and as clinically indicated. Patients with a history of well-controlled Type 2 diabetes mellitus may require intensified anti-hyperglycemic treatment and close monitoring of FG levels.

For patients who experience hyperglycemia during treatment with TRUQAP, monitor FG at least twice weekly, on days on and off TRUQAP, until FG decreases to baseline levels. During treatment with anti-diabetic medications, monitor FG at least once a week for 2 months, followed by once every 2 weeks, or as clinically indicated. Consider consultation with a healthcare practitioner with expertise in the treatment of hyperglycemia and initiation of FG monitoring at home for patients who have risk factors for hyperglycemia or who experience hyperglycemia. Advise patients on the signs and symptoms of hyperglycemia and counsel patients on lifestyle changes.

Withhold TRUQAP immediately when ketoacidosis is suspected. If ketoacidosis is confirmed, permanently discontinue TRUQAP. Based on the severity of hyperglycemia, withhold, reduce dose, or permanently discontinue TRUQAP.

Diarrhea

Severe diarrhea associated with dehydration occurred in patients who received TRUQAP (n=355).

Diarrhea occurred in 72% of patients. Grade 3 or 4 diarrhea occurred in 9% of patients. The median time to first occurrence was 8 days (range: 1 to 519). In the 257 patients with diarrhea, 59% required antidiarrheal medications to manage symptoms. Dose reductions were required in 8% of patients and 2% of patients permanently discontinued TRUQAP due to diarrhea. In patients with Grade ≥2 diarrhea (n=93) with at least 1 grade improvement (n=89), median time to improvement from the first event was 4 days (range: 1 to 154).

Monitor patients for signs and symptoms of diarrhea. Advise patients to increase oral fluids and start antidiarrheal treatment at the first sign of diarrhea while taking TRUQAP. Withhold, reduce dose, or permanently discontinue TRUQAP based on severity.

Cutaneous Adverse Reactions

Cutaneous adverse reactions, which can be severe, including erythema multiforme (EM), palmar-plantar erythrodysesthesia, and drug reaction with eosinophilia and systemic symptoms (DRESS), occurred in patients who received TRUQAP (n=355).

Cutaneous adverse reactions occurred in 58% of patients. Grade 3 or 4 cutaneous adverse reactions occurred in 17% of patients receiving TRUQAP. EM occurred in 1.7% of patients and DRESS occurred in 0.3% of patients. Dose reduction was required in 7% of patients and 7% of patients permanently discontinued TRUQAP due to cutaneous adverse reactions.

Monitor patients for signs and symptoms of cutaneous adverse reactions. Early consultation with a dermatologist is recommended. Withhold, dose reduce, or permanently discontinue TRUQAP based on severity.

Embryo-Fetal Toxicity

Based on findings from animals and mechanism of action, TRUQAP can cause fetal harm when administered to a pregnant woman. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with TRUQAP and for 1 month after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with TRUQAP and for 4 months after the last dose.

TRUQAP is used in combination with fulvestrant. Refer to the full Prescribing Information of fulvestrant for pregnancy and contraception information.

ADVERSE REACTIONS

Among the 355 patients who received TRUQAP in CAPItello-291, the most common (≥20%) adverse reactions, including laboratory abnormalities, were diarrhea (72%), cutaneous adverse reactions (58%), increased random glucose (57%), decreased lymphocytes (47%), decreased hemoglobin (45%), increased fasting glucose (37%), nausea and fatigue (35% each), decreased leukocytes (32%), increased triglycerides (27%), decreased neutrophils (23%), increased creatinine (22%), vomiting (21%), and stomatitis (20%).

In the 155 patients with PIK3CA/AKT1/PTEN alterations treated with TRUQAP + fulvestrant, dose reductions due to adverse reactions were reported in 21% of patients. Permanent TRUQAP discontinuation due to an adverse reaction occurred in 10% of patients. Dose interruptions of TRUQAP occurred in 39% of patients.

DRUG INTERACTIONS

Strong CYP3A Inhibitors: Avoid concomitant use with a strong CYP3A inhibitor. If concomitant use cannot be avoided, reduce the dose of TRUQAP and monitor patients for adverse reactions.

Moderate CYP3A Inhibitors: When concomitantly used with a moderate CYP3A inhibitor, reduce the dose of TRUQAP and monitor patients for adverse reactions.

Strong or Moderate CYP3A Inducers: Avoid concomitant use of TRUQAP with strong or moderate CYP3A inducers.

INDICATION AND USAGE

TRUQAP in combination with fulvestrant is indicated for the treatment of adult patients with hormone receptor (HR)‑positive, human epidermal growth factor receptor 2 (HER2)-negative locally advanced or metastatic breast cancer with one or more PIK3CA/AKT1/PTEN alteration as detected by an FDA-approved test following progression on at least one endocrine-based regimen in the metastatic setting or recurrence on or within 12 months of completing adjuvant therapy.

Please see full Prescribing Information, including Patient Information for TRUQAP.

Notes

Prostate cancer

Prostate cancer is the second most prevalent cancer in men and the fifth leading cause of male cancer death globally, with an incidence of more than 1.4 million and approximately 397,000 deaths in 2022.² In the US, prostate cancer is the most common cancer in men, with more than 300,000 new cases of the disease diagnosed annually, and more than 36,000 deaths.³

Metastatic prostate cancer is associated with a significant mortality rate, with only one third of patients surviving five years after diagnosis.⁴ Development of prostate cancer is often driven by male sex hormones called androgens, including testosterone.⁵

Metastatic hormone-sensitive prostate cancer

In patients with mHSPC, also known as metastatic castration-sensitive prostate cancer (mCSPC), prostate cancer cells need high levels of androgens to drive cancer growth.^5,6 Hormone therapies, such as ADT, are widely used to block the action of male sex hormones and lower the levels of androgens in the body.^6,7 However, resistance to these therapies is common and there is a need to extend their use to delay disease progression and castration resistance, where the prostate cancer grows and spreads to other parts of the body despite the use of these therapies.^6-8

Newly diagnosed mHSPC is an aggressive form of the disease associated with poor outcomes and survival.^6,8 Globally, approximately 200,000 patients are diagnosed with mHSPC each year, with 35,000 patients diagnosed with the disease in the US.⁹ One in four of these patients have PTEN-deficient tumors.⁹

PTEN-loss or deficiency fuels the growth of cancer cells, leading to dysregulation of the PI3K/AKT pathway, and is associated with poor outcomes in patients with prostate cancer.^10,11

CAPItello-281

CAPItello-281 is a Phase III, double-blind, randomized trial evaluating the efficacy and safety of TRUQAP in combination with abiraterone and ADT versus abiraterone and ADT in combination with placebo in the treatment of patients with PTEN-deficient de novo mHSPC.

The global trial enrolled 1,012 adult patients with histologically confirmed de novo hormone-sensitive prostate adenocarcinoma and PTEN deficiency as confirmed by central testing. The primary endpoint of the CAPItello-281 trial is rPFS as assessed by investigator, with OS as a secondary endpoint.

TRUQAP^® (capivasertib)

TRUQAP^® (capivasertib) is a first-in-class, potent, adenosine triphosphate (ATP)-competitive inhibitor of all three AKT isoforms (AKT1/2/3). TRUQAP 400 mg is administered twice daily according to an intermittent dosing schedule of four days on and three days off. This was chosen in early phase trials based on tolerability and the degree of target inhibition.

TRUQAP in combination with fulvestrant is approved in the US, EU, Japan, China and a number of other countries for the treatment of adult patients with HR-positive (or estrogen receptor-positive), HER2-negative locally advanced or metastatic breast cancer with one or more biomarker alterations (PIK3CA, AKT1 or PTEN) following recurrence or progression on or after an endocrine-based regimen based on the results from the CAPItello-291 trial. TRUQAP is also approved in Australia for the treatment of adult patients with HR-positive, HER2-negative locally advanced or metastatic breast cancer following recurrence or progression on or after an endocrine based regimen based on these trial results.

TRUQAP is currently being evaluated in Phase III trials for the treatment of breast cancer (CAPItello-292) and prostate cancer (CAPItello-281) in combination with established treatments.

TRUQAP was discovered by AstraZeneca subsequent to a collaboration with Astex Therapeutics (and its collaboration with the Institute of Cancer Research and Cancer Research Technology Limited).

AstraZeneca in oncology

AstraZeneca is leading a revolution in oncology with the ambition to provide cures for cancer in every form, following the science to understand cancer and all its complexities to discover, develop and deliver life-changing medicines to patients.

The Company’s focus is on some of the most challenging cancers. It is through persistent innovation that AstraZeneca has built one of the most diverse portfolios and pipelines in the industry, with the potential to catalyze changes in the practice of medicine and transform the patient experience.

AstraZeneca has the vision to redefine cancer care and, one day, eliminate cancer as a cause of death.

AstraZeneca

AstraZeneca (LSE/STO/NYSE: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialization of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca’s innovative medicines are sold in more than 125 countries and used by millions of patients worldwide. Please visit astrazeneca-us.com and follow the Company on social media @AstraZeneca. The contents of AstraZeneca’s website do not form part of this document and no one should rely on such websites or the contents thereof in reading this document.

References

Fizazi K, et al. Capivasertib plus abiraterone in PTEN-deficient metastatic hormone sensitive prostate cancer: CAPItello-281 phase III study. Ann Oncol 2026; 37(1):53-68.

Bray F, et al. Global cancer statistics 2022: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries. CA Cancer J Clin. 2024 Apr 4. doi: 10.3322/caac.21834.

American Cancer Society. Key Statistics for Prostate cancer. Available at: https://www.cancer.org/cancer/types/prostate-cancer/about/key-statistics.html. Accessed April 2026.

Chowdhury S, et al. Real-World Outcomes in First-Line Treatment of Metastatic Castration-Resistant Prostate Cancer: The Prostate Cancer Registry. Target Oncol. 2020;15(3):301-315.

National Cancer Institute. Hormone Therapy for Prostate Cancer Fact Sheet. Available at: https://www.cancer.gov/types/prostate/prostate-hormone-therapy-fact-sheet. Accessed April 2026.

American Society of Clinical Oncology Educational Book. Metastatic Hormone-Sensitive Prostate Cancer: Toward an Era of Adaptive and Personalized Treatment. Available at: https://ascopubs.org/doi/pdf/10.1200/EDBK_390166. Accessed April 2026.

Cancer Research UK. Hormone therapy for metastatic prostate cancer. Available at: https://www.cancerresearchuk.org/about-cancer/prostate-cancer/metastatic-cancer/treatment/hormone-therapy-for-metastatic-prostate-cancer. Accessed April 2026.

Hussain M, et al. Metastatic Hormone-Sensitive Prostate Cancer and Combination Treatment Outcomes A Review. JAMA Oncol. 2024;10(6):807-820.

Cerner CancerMPact database. Accessed April 2026.

Cuzick J, et al. Prognostic value of PTEN loss in men with conservatively managed localised prostate cancer. Br J Cancer. 2013;108(12):2582-2589.

Gasmi A, et al. Overview of the Development and Use of Akt Inhibitors in Prostate Cancer. J Clin Med. 2021;11(1):160.

US-112424 Last Updated 4/26

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