Market Newsdesk

• Key findings from the DME AWARE initiative highlight the importance of non-invasive treatment options for early intervention in diabetic macular edema (DME) management
• Oculis is on track to report topline results in June 2026 from DIAMOND Phase 3 registrational trials with OCS-01, which aims to be the first eye drop therapy for DME

ZUG, Switzerland, May 05, 2026 (GLOBE NEWSWIRE) — Oculis Holding AG (Nasdaq: OCS / XICE: OCS) (Oculis), a global biopharmaceutical company focused on breakthrough innovations to address significant unmet medical needs in ophthalmology and neuro-ophthalmology, today announces that the latest findings of the DME AWARE Delphi study were presented at the Association for Research in Vision and Ophthalmology (ARVO) 2026 Annual Meeting.

DME affects mainly a working-age population and is typically diagnosed at an average age of 52 years.^1,2 One year following diagnosis, 60% of patients are not treated^2a while we know that delaying treatment is not beneficial for patients as it represents a missed opportunity to fully regain vision. Furthermore, patients with less severe and early-stage DME are not often treated due to the risk/benefit ratio of invasive therapy options.³ Of those patients that are treated with an anti-VEGF, 40% of them have an inadequate treatment response defined as BCVA gain < 5-letters.⁴

DME AWARE, sponsored by Oculis, is a global Delphi initiative composed of a steering committee and panel of 25 leading retina and ophthalmology experts. The study aims to better understand the current DME landscape and to improve DME patient care by establishing a global expert consensus on unmet needs in DME management. The panel of experts answered three iterative anonymous surveys that posed critical questions about unmet needs in DME patient management, disease detection and assessment, and considerations for intervention. 

Key findings from the DME AWARE Delphi initiative corroborated prior knowledge and suggest that unmet priority needs in DME include non-invasive treatment options, therapeutic options for early intervention, and novel therapies for concomitant use with current standard of care treatments. The goals of early intervention have been identified as improving or stabilizing visual function and reducing inflammatory factors. Furthermore, experts defined “early detection” as the detection of patients with DME prior to the presence of fluid and “early intervention” as the treatment of patients with DME prior to functional deterioration.

New findings from the third and final survey reinforce the strong need for non-invasive treatment options for early intervention in DME and showed consensus to treat with an eye drop in early intervention.

These findings underscore the critical unmet needs in DME patient management including non-invasive therapies for early intervention and concomitant use with current standard of care.

Professor Baruch D. Kuppermann, M.D., Ph.D., Department of Ophthalmology and Visual Sciences, University of California, Irvine and Gavin Herbert Eye Institute, said: “It was an honor for me to present these overall findings of the DME AWARE study, which reflect a truly global expert consensus on some of the most pressing challenges in DME management. The results underscore the ongoing interplay between the clinical need for effective disease control to prevent vision loss and the challenges associated with current treatment approaches. They also highlight growing interest among leading retinal and ophthalmology specialists in how less invasive options, if proven effective, could help address significant unmet needs remaining across different patient populations and stages of disease. The Delphi initiative lays important groundwork for how we can shape the future clinical practice to meaningfully improve patient care and treatment outcomes.”

Riad Sherif, M.D., Chief Executive Officer of Oculis, said: “While DME typically impacts patients at age 52, 60% remain untreated after one year due to the invasive nature of current therapies. As we approach the June readout of the pivotal DIAMOND trials, our Delphi survey confirms that a topical therapy could transform this landscape. OCS-01, a potential first-in-class eye drop, offers a non-invasive path for early intervention and a critical alternative for the 40% of patients who respond inadequately to injections.”

– ENDS –

About OCS-01 eye drops and the OPTIREACH® technology

Leveraging Oculis’ proprietary technology, OCS-01 is an OPTIREACH® formulation of high concentration dexamethasone eye drop. It is being developed as an eye drop to treat the retina to offer a non-invasive treatment for diabetic macular edema (DME). This route of administration enables easy access to treatment in the early stages of the disease and can be used in combination with other therapies in later stages. In contrast, all currently available treatments require invasive delivery methods, such as intravitreal injections or ocular implants, to reach the retina. The OPTIREACH® solubilizing formulation technology addresses the main limitations of conventional eye drops by improving the solubility of lipophilic drugs, increasing the residence time on the eye surface and thereby, enabling the drug passage from the eye surface to the posterior segment of the eye. Oculis’ OCS-01 is being developed with the aim to transform the current treatment paradigm in DME as a non-invasive topical treatment option.

OCS-01 is an investigational drug in Phase 3 that has not received regulatory approval for commercial use in any country.

About Diabetic Macular Edema (DME)

DME, a complication from diabetes, is a leading cause of visual loss and legal blindness in working-aged adults. Currently, it is estimated to affect around 37 million people worldwide and, with the rise of diabetes, the prevalence is expected to increase to 53 million by 2040^5,6. DME is an irreversible and progressive complication of diabetic retinopathy and is related to consistently having high blood sugar levels that damage nerves and blood vessels in the macula, the area of the retina responsible for sharp vision. DME occurs when blood vessels in the retina swell, and then leak, leading to a fluid build-up (edema) into the retina. Despite available therapies, significant unmet medical needs remain for earlier treatment intervention or for inadequate responders to the current standard of care.

About Oculis

Oculis is a global biopharmaceutical company (Nasdaq: OCS; XICE: OCS) focused on breakthrough innovations to address significant unmet medical needs in neuro-ophthalmology and ophthalmology. Oculis’ highly differentiated late-stage clinical pipeline includes three core product candidates: OCS-01, an eye drop in pivotal registration studies, aiming to become the first non-invasive topical treatment for diabetic macular edema (DME); Licaminlimab, a novel, topical anti-TNFα in registrational trial, which is being developed with a genotype-based approach to drive precision medicine in dry eye disease (DED), and Privosegtor, a breakthrough neuroprotective candidate in the PIONEER program which consists of studies intended to support registration plans for treatment in optic neuropathies like optic neuritis (ON) and non-arteritic anterior ischemic optic neuropathy (NAION), with potentially broad clinical applications in various other neuro-ophthalmic and neurological diseases. Headquartered in Switzerland with operations in the U.S., Iceland and Switzerland, Oculis is led by an experienced management team with a successful track record and supported by leading international healthcare investors.

For more information, please visit: www.oculis.com

Oculis Contact

Ms. Sylvia Cheung, CFO
[email protected]

Investor Relations

LifeSci Advisors
Corey Davis, Ph.D.
[email protected]

Media Relations

ICR Healthcare
Amber Fennell / David Daley / Sean Leous
[email protected]

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements and information. For example, statements regarding the potential benefits of the Company’s product candidates, the initiation, timing, progress and results of current and future clinical trials, Oculis’ research and development programs, regulatory and business strategy; Oculis’ future development plans; the timing or likelihood of regulatory filings and approvals; statements about market opportunity, and the Company’s expected financial position and cash runway, are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

References:

1. Ciulla TA, et al. Diabetes Care. 2003;26:2653–2664.
2. Petrella RJ, et al. J Ophthalmol. 2012;2012:159167.
3. Baker CW, et al. JAMA. 2019;321(19):1880-1894.
4. Gonzalez VH, et al. Am J Ophthalmol. 2016;172:72-79.
5. Yau et al. Diabetes Care 2012 Mar; 35(3): 556-564
6. International Diabetes Federation –  diabetesatlas.org

^aReal-world data from the American Academy of Ophthalmology (AAO) IRIS Registry. DME, diabetic macular edema; VEGF, vascular endothelial growth factor.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc25de9c-07c8-448a-b6af-aea02249e593

CERRITOS, Calif., May 05, 2026 (GLOBE NEWSWIRE) — GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of GEN Korean BBQ, a leading Korean BBQ brand known for its bold and authentic flavors, today announced the launch of four premium, fully marinated Korean BBQ meats now available at all 169 Stater Brothers Markets located across Southern California.

This chainwide rollout marks a significant step in bringing true GEN restaurant quality meats into everyday home cooking.

“We are excited to offer our ready-to-cook meats through grocery store, Stater Brothers. Our four delicious choices are Beef Bulgogi, Chicken Bulgogi, Pork Bulgogi, and Beef Short Ribs. Each product is crafted using traditional Korean recipes featuring ingredients such as garlic, soy sauce, sesame oil, and gochujang—delivering the bold, savory, and umami-rich flavors that define authentic GEN Korean BBQ marinades and is identical to our restaurant meats. We’re not Korean-inspired—we are authentic Korean BBQ,” said David Kim, CEO of GEN. “We stand behind our product and would confidently put our flavors up against any brand in the market. Our commitment is simple: deliver the boldest and most consistent Korean BBQ experience available. This launch represents a growing shift in consumer demand. Korean BBQ is no longer niche—it has become a staple nationwide.”

Stater Bros. Markets, established in 1936 in Yucaipa, California by twin brothers Cleo and Leo Stater, is one of the largest privately owned supermarket chains in Southern California. Known for its commitment to affordable pricing, high-quality full-service meat departments, and strong community involvement, Stater Brothers generates approximately $4–4.7 billion in annual sales and serves millions of loyal customers across nearly 169 locations. With full distribution across all Stater Brothers locations, shoppers can find GEN’s products in the fresh meat section, ready to cook in minutes and designed for both everyday meals and social gatherings.

For more information or to find a GEN Korean BBQ near you, visit:

www.genkoreanbbq.com/locations

About GEN Restaurant Group, Inc.

GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown to 59 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook and Instagram.

Forward-Looking Statements

 This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believe,” “intend,” “expect”, “will,” “may,” and other similar words or expressions that predict or indicate future events. All statements that are not statements of historical fact are forward-looking statements, including any statements regarding our strategy, future operations, and growth prospects, including expectation relating to the Company’s CPG division, any statements regarding future revenue or revenue growth, any projections regarding the number of locations carrying our CPG products, any statements of belief or expectation, and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in our subsequent filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. We undertake no obligation to update any forward-looking statements to reflect future events or circumstances, new information, or the occurrence of unanticipated events, except as required by law.

Investor Relations Contact:

Thomas V. Croal
1-562-356-9929
[email protected]

Abivax
Announces Repurchase of
Royalty Certificates and
Pricing of $45M (€38.5M) Offering
of American Depositary Shares

• Cash runway remains into Q4 2027, supporting continued funding of clinical programs and pre-commercial planning activities
• Royalty overhang materially reduced, enhancing financial flexibility to support future commercialization efforts

PARIS, France – May 5, 2026 – 8:00 am CEST – Abivax SA (Euronext Paris: FR0012333284 – ABVX) (“Abivax” or the “Company”), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the immune response in patients with chronic inflammatory diseases, today announces (i) the execution of a purchase agreement (the “Purchase Agreement”) for the royalty certificates issued by the Company in September 2022 (the “Royalty Certificates”), to be partially paid in shares, and (ii) consequently, the pricing of a $45 million offering of 403,347 ordinary shares (“Ordinary Shares”) represented by American Depositary Shares (“ADSs”), each representing one Ordinary Share, €0.01 nominal value per share, of the Company, to the benefit of the Royalty Certificates’ holders (the “Holders”) at an offering price of $111.57 per ADS (the “Offering”).

The offering price of $111.57 per ADS (corresponding to €95.34 per Ordinary Share), based on the exchange rate of €1.00 = $1.1702 as published by the European Central Bank on April 30, 2026, is equal to the volume-weighted average trading price of the ADSs on the Nasdaq Global Market over the five consecutive trading days ending on and including the trading day immediately preceding the pricing of the Offering (i.e., from April 27, 2026 to May 1, 2026) and has been determined by the Board of Directors pursuant to the 26^th resolution of the Company’s combined shareholders’ meeting held on June 6, 2025 (the “General Meeting”).

Didier Blondel, Chief Financial Officer of Abivax, said:
“Strengthening our balance sheet remains a core priority as we continue to reduce legacy obligations. The current market environment presents a compelling opportunity to proactively repurchase these royalty certificates on attractive terms, allowing us to simplify our capital structure and enhance long-term shareholder value.”

Purchase of the Royalty Certificates

The Royalty Certificates have been issued to TCG Crossover Fund I, L.P., VHCP ABVX Holdings, LLC, Deep Track Biotechnology Master Fund, Ltd., Sofinnova Crossover I SLP, Invus Public Equities, L.P., FPCI BioMedTech and Santé Holdings Srl pursuant to a decision of the Board of Directors of the Company held on August 31, 2022.

Pursuant to the Purchase Agreement entered into between the Company and the Holders on May 4, 2026, the Holders have agreed to sell, and the Company has agreed to purchase, all of the Royalty Certificates for a purchase price equal to $90 million, of which $45 million shall be paid in cash on the closing date, expected on or about May 7, 2026.

The Holders have agreed to grant an interest-free vendor’s loan (crédit vendeur) in a total amount equal to the remaining $45 million, to be reinvested in the Company’s securities and such loan will be set off against the subscription price of the ADSs to be issued by the Company to the Holders in the Offering. Such set-off, and the corresponding issuance and delivery of the ADSs to the Holders, is expected to occur on the closing date of the Offering, expected on or about May 7, 2026, at which time the vendor’s loan will be fully extinguished.

The Royalty Certificates repurchased by the Company will be immediately cancelled by the Company.

Type of Offering

The Ordinary Shares (in the form of ADSs) being issued in the Offering are being issued by way of a capital increase with cancellation of the preferential subscription rights of existing shareholders to the benefit of the Holders, pursuant to the 26th resolution of the General Meeting.

Expected Closing

The Offering is expected to close on or about May 7, 2026, subject to the satisfaction of customary closing conditions.

Estimated Proceeds from the Offering

As the subscription price of the Ordinary Shares (including in the form of ADSs) being issued in the Offering is to be paid by way of set-off against certain, liquid, and due claims against the Company, there will be no proceeds from the Offering.

Dilution

The 403,347 Ordinary Shares (including in the form of ADSs) to be issued in the Offering will result in a dilution of approximately 0.5% of the share capital of the Company (on a non-diluted basis). On an illustrative basis, a shareholder holding 1% of the Company’s share capital before the Offering would hold a stake of 0.99% after completion of the Offering.

Settlement and Delivery – Documentation

The Company’s ADSs are listed on the Nasdaq Global Market under the ticker symbol “ABVX.” The Company’s Ordinary Shares are listed on the regulated market of Euronext in Paris (“Euronext”) under the symbol “ABVX.”

The Ordinary Shares issued in the Offering are expected to be admitted to trading on Euronext on or about May 7, 2026. The ADSs representing the Ordinary Shares being issued in the Offering are expected to be admitted to trading on the Nasdaq Global Market on or about May 7, 2026.

The Ordinary Shares underlying the ADSs issued in the Offering will be subject to an application for admission to trading on Euronext on the same trading line as the existing Ordinary Shares of the Company currently listed on Euronext, under the same ISIN code FR0012333284.

An automatic shelf registration statement on Form F-3 (including a prospectus) relating to the Company’s securities was filed with the Securities and Exchange Commission (the “SEC”) on July 23, 2025, and became effective upon filing. The Company intends to file with the SEC a prospectus supplement (and accompanying prospectus) to register any potential resale of the ADSs (the “Prospectus Supplement”). These documents may be obtained free of charge by visiting EDGAR on the SEC’s website at www.sec.gov.

The Offering is not subject to a prospectus requiring an approval of the AMF.

Accounting Treatment

The Company accounted for the repayment of the Royalty Certificates in accordance with applicable accounting standards, recognizing the transaction upon settlement and derecognizing the associated liability from its balance sheet. Any difference between the carrying value of the Royalty Certificates and the consideration paid will be recorded as a gain or loss in the Company’s results of operations for quarter ended June 30, 2026.

Advisors

Leerink Partners is acting as exclusive financial advisor to the Company in connection with the Offering.

Dechert (Paris) LLP and Cooley LLP are acting as legal advisors to the Company in connection with the Offering.

Cash Position and Runway

The Company had cash, cash equivalents and short-term investments of €530.4 million as of December 31, 2025, providing a projected cash runway into Q4 2027 based on current operating assumptions.

After the repurchase of the Royalty Certificates, the Company’s projected cash runway remains unchanged (into Q4 2027).

Risk Factors

Potential investors should carefully consider the risks described under “Risk Factors” in the Prospectus Supplement, including the following risks:

• Future sales of ordinary shares or ADSs by existing shareholders could depress the market price of the ADSs and ordinary shares; and
• Raising additional capital, including as a result of this offering or of further offerings to finance the clinical programs or the commercialization of the Company’s drug candidates, may cause dilution to the Company’s shareholders, restrict its operations, or require it to relinquish rights to its drug candidates.

In addition, the Company draws attention to the risk factors related to the Company and its activities described under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on March 23, 2026 and in Chapter 2 of the 2026 universal registration document filed with the French Financial Markets Authority (Autorité des Marchés Financiers – the “AMF”) under number D.26-0133 on March 23, 2026, which is available free of charge on the Company’s website at https://ir.abivax.com/fr, as well as on the AMF’s website at www.amf-france.org.

***

About Abivax

Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases. Based in France and the United States, Abivax’s lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis.

Contacts:

Abivax Investor Relations Patrick Malloy [email protected] +1 847 987 4878

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, forecasts and estimates, including those relating to the Company’s business and financial objectives. Words such as “design,” “intend,” “expect,” “forward,” “future,” “can,” “could,” “may,” “might,” “potential,” “plan,” “project,” “should,” “will” and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements regarding the expected closing of the Offering, the period of time through which the Company anticipates its financial resources will be adequate to support its operations, as well as statements concerning or implying the therapeutic potential of Abivax’s drug candidates, clinical development plans, business and regulatory strategy, and anticipated future performance and other statements that are not historical fact. Although Abivax’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the AMF pursuant to its legal obligations, including its universal registration document (Document d’Enregistrement Universel), and in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on March 23, 2026 under the caption “Risk Factors.” These risks, contingencies and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug candidate, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates and the availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development including further assessment by the Company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are made only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) that is included in this press release is not intended to constitute an advertisement. This press release does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice.

Disclaimers

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such 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.

The distribution of this press release may be subject to legal or regulatory restrictions in certain jurisdictions. Any person who comes into possession of this press release must inform him or herself of and comply with any such restrictions.

This announcement is not a prospectus within the meaning of the Prospectus Regulation.

In relation to each member state of the European Economic Area (each, a “Relevant Member State”), an offer of the securities referred to herein is not being made and will not be made to the public in that Relevant Member State, other than (i) to any legal entity which is a qualified investor as defined in the Prospectus Regulation, (ii) to fewer than 150 natural or legal persons per Relevant Member State, or (iii) in any other circumstances falling within Article 1(4) of the Prospectus Regulation; provided that no such offer of the securities referred to herein shall require the Company to publish a prospectus pursuant to Article 3 of the Prospectus Regulation. For the purposes of the above, the expression an “offer to the public” in any Relevant Member State shall have the meaning ascribed to it in Article 2(d) of the Prospectus Regulation.

This communication is being distributed only to, and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), and (c) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.

Solely for the purposes of each manufacturer’s product approval process, the target market assessment in respect of the securities offered in the Offering has led to the conclusion in relation to the type of clients criteria only that: (i) the type of clients to whom the securities are targeted is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU, as amended (“MiFID II”); and (ii) all channels for distribution of the securities offered in the Offering to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Ordinary Shares (a “distributor”) should take into consideration the manufacturers’ type of clients assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Ordinary Shares offered in the Offering (by either adopting or refining the manufacturers’ type of clients assessment) and determining appropriate distribution channels.

This press release has been prepared in both French and English. In the event of any discrepancies between the two versions of the press release, the French language version shall prevail.

Attachment

• 260505_Abivax_PR_Repurchase of Royalty Certificates

AMSTERDAM, May 05, 2026 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced the expansion of its Business Transformation practice with the appointment of Anand Raghuraman as a Senior Managing Director within the firm’s Corporate Finance segment.

Mr. Raghuraman, who is based in Amsterdam, has more than 25 years of experience in consultancy and the retail and consumer products industry. He has led and advised on commercial strategies, operational improvement initiatives and complex enterprise-wide profit improvement programmes for businesses and private equity (“PE”) firms globally, including Europe, North and South America, Asia and Australia.

In his role at FTI Consulting, Mr. Raghuraman will work closely with PE firms and their portfolio companies to help retail and consumer-facing businesses improve their operations and deliver transformations that support long-term goals. He also will collaborate with colleagues on pre-deal diligence and post-deal optimisation work and serve as interim Chief Transformation Officer for client engagements.

Prior to his appointment, Mr. Raghuraman served as a Senior Advisor to FTI Consulting’s Business Transformation practice in Amsterdam. Before this, he was a Partner at Roland Berger, where he co-founded the firm’s Americas Consumer Goods & Retail practice. In addition, Mr. Raghuraman has previously held senior positions at Riveron, EY, the Boston Consulting Group and Kurt Salmon. Working in industry, he served as the Senior Vice President of Strategy at U.S.-based retailer Ross Stores and has been a senior advisor to several retail and consumer technology startups.

“Having worked with Anand, I have been impressed by his commercial instincts, leadership and commitment to helping clients achieve their bottom line,” said Jasper Schrijver, Co-Leader of the Corporate Finance segment in Benelux at FTI Consulting. “In our key markets around the world, we continue to strengthen our industry-focused transformation capabilities and the support that we offer our PE clients. Anand’s expertise in the consumer retail and fashion industries, combined with his PE experience, will play a key role in enhancing our Benelux offering. We are delighted to welcome him as a senior member of the team.”

Commenting on his appointment, Mr. Raghuraman said, “At FTI Consulting, we have brilliant people with diverse skills that are highly valued by businesses dealing with challenges and pursuing new opportunities. I’m excited to play my part, supporting clients in the retail and consumer products sector here in Amsterdam and across Europe.”

About FTI Consulting

FTI Consulting, Inc. is a leading global expert firm for organisations facing crisis and transformation, with more than 8,100 employees located in 32 countries and territories as of March 31, 2026. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalised and independently managed. The Company generated $3.8 billion in revenues during fiscal year 2025. More information can be found at www.fticonsulting.com.

FTI Consulting, Inc.

200 Aldersgate
Aldersgate Street
London, EC1A 4HD

Investor Contact:

Mollie Hawkes
+1.617.747.1791
[email protected]

Media Contact:

Helen Obi
+44 20 7632 5071
[email protected]

DALLAS, May 05, 2026 (GLOBE NEWSWIRE) — Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) announced today its financial and operating results for the first quarter of 2026. For the quarter, the Company generated a net loss of $226 million, or $0.45 per diluted share. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net loss⁽¹⁾ of $36 million, or $0.07 per diluted share for the first quarter of 2026.

FIRST QUARTER
2026
AND POST QUARTER END HIGHLIGHTS

• Net Production⁽²⁾: ~74,800 barrels of oil equivalent per day (boepd), up ~25% versus first quarter 2025
• Revenues: $371 million, or $55.81 per boe (excluding the impact of derivative cash settlements)
• Production expense: $131 million (or $19.66 per boe), down ~22% versus first quarter 2025 (~$167 million)
• Capital expenditures: $91 million
• Greater Tortue Ahmeyim (GTA) gross production averaged ~2.85 million tonnes per annum (mtpa) for the first quarter, in excess of the floating LNG nameplate capacity (2.7 mtpa)
• Kosmos successfully completed a $350 million senior secured bond offering in the Nordic market
• Kosmos successfully completed an equity raise of approximately $200 million with the proceeds used to accelerate debt paydown
• Kosmos announced the sale of its interest in the Ceiba Field and Okume Complex in Equatorial Guinea, for up to ~$220 million
• The TEN partnership finalized the acquisition of the TEN FPSO, which is expected to result in a material reduction in operating expenses
• Kosmos took final investment decision for the operated Tiberius project in the Gulf of America

Commenting on the Company’s first quarter 2026 performance, Chairman and Chief Executive Officer Andrew G. Inglis said: “Earlier this year, we set four goals for 2026: increase production from our core assets; lower costs; reduce debt; and advance our high‑quality growth portfolio with minimal capital. We are delivering strongly on all four of these goals.

“In the first quarter, Kosmos achieved record daily and quarterly production, driven by GTA fully ramped up and new wells at Jubilee. Operating costs were ~22% lower year-on-year and we reduced net debt⁽¹⁾ by ~7% versus year‑end 2025. With this ongoing momentum, we have raised our full‑year debt reduction target from 10% to ~20%.

“We continue to maintain our capital discipline while we progress our quality growth options. We took final investment decision on the Tiberius development, entered into a strategic exploration alliance with Shell in the Gulf of America, and are moving forward on GTA Phase 1+ expansion.

“With oil prices higher, our goals are unchanged. We will direct excess free cash flow toward accelerated debt reduction and further strengthening the balance sheet. Our exposure to premium international oil markets positions Kosmos to capture value from current market dislocations and reinforces our confidence in the path ahead.”

FINANCIAL UPDATE

In January 2026, Kosmos successfully completed a $350 million senior secured bond offering in the Nordic market with proceeds used to repurchase ~$250 million of the Company’s 2027 senior unsecured notes and to repay $100 million of borrowings under the reserve-based lending facility (RBL).

In March, Kosmos successfully raised approximately $200 million of equity with the proceeds used to accelerate debt repayment.

In April, Kosmos completed its spring RBL re-determination with the borrowing base reduced to approximately $1.25 billion. Post the sale of the Company’s production assets in Equatorial Guinea, expected around midyear 2026, the borrowing base will reduce to approximately $1.2 billion,

Kosmos has growing exposure to higher near-term oil prices, with realizations and free cash flow expected to rise in the second quarter, taking account of the lag effect between sales and benchmark prices. In the second quarter so far, we have seen record pricing and record differentials for production priced off premium international benchmarks such as Dated Brent in Ghana.

Kosmos has taken advantage of a higher forward price curve to add further hedges for 2027. The company has 5.7 million barrels of oil hedged for the remainder of 2026 with an average floor of approximately $66/barrel and a further 4.0 million barrels hedged in 2027 with a floor of approximately $65/barrel.

Net capital expenditure for the first quarter of 2026 was $91 million, in line with guidance. Full year 2026 capital expenditure guidance of $350 million is unchanged.

The Company generated net cash provided by operating activities of approximately $107 million and free cash flow⁽¹⁾ of approximately $14 million. Kosmos exited the first quarter of 2026 with approximately $2.8 billion of net debt⁽¹⁾ and liquidity of approximately $488 million.

OPERATIONAL UPDATE

Production

Total net production⁽²⁾ in the first quarter of 2026 averaged approximately 74,800 boepd, a record quarterly high for Kosmos, up ~25% versus first quarter 2025. The increase was largely driven by the ramp up at GTA and new wells coming online at Jubilee. Sales for the first quarter 2026 were approximately 73,800 boepd.

The Company exited the quarter in a net underlift position of approximately 1.3 mmboe.

Mauritania and Senegal

GTA Phase 1 production averaged approximately 17,000 boepd net during the quarter, or 2.85 mtpa of LNG equivalent gross as the project continued to produce above the floating LNG vessel’s nameplate capacity (2.7 mtpa), benefiting from cooler seasonal temperatures. The partnership lifted 9.5 gross LNG cargos in the first quarter, in line with guidance. Full year guidance of 32-36 gross LNG cargos remains unchanged. One condensate cargo was lifted by BP in the first quarter. The second and third condensate cargos in 2026 are expected to be lifted by Kosmos and the national oil companies of Mauritania and Senegal.

Lowering operating costs for GTA Phase 1 remains a priority for the partnership in 2026 with net operating costs per boe on track to fall by more than 50% year-on-year with scope for further reductions in 2027 and beyond.

With Phase 1 production fully ramped up and performing well, the partnership is now focusing on future production growth through Phase 1+, which fully utilizes the existing infrastructure for sales to the domestic markets in Senegal and Mauritania. Heads of terms for domestic gas sales are expected in 2026. In addition, Senegal has begun construction of an onshore power plant near Saint Louis and is expected to commence construction of the gas pipeline network around the midyear, which will transport gas from the GTA hub terminal to shore for domestic power generation.

Ghana

Production in Ghana averaged approximately 35,400 boepd net in the first quarter of 2026, which included gas production of approximately 6,900 boepd. Kosmos lifted three cargos from Ghana during the quarter, in line with guidance.

At Jubilee (38.6% working interest), oil production in the first quarter averaged approximately 70,000 bopd gross. The J74 well came online in early 2026 followed by the J75 well at the end of the quarter. Both wells are performing in line with expectations.

The next well in the campaign (J76) has been drilled and the completion is about to commence. Two additional producer wells (J77 and J50) have also been drilled and will be completed shortly after J76. As the operator recently communicated, all three producer wells are expected online in June and July and Kosmos expects an aggregate contribution from these wells of around 20,000 bopd gross. A water injection well will conclude the drilling campaign and is expected online at the end of the third quarter.

At TEN (20.4% working interest), oil production averaged approximately 14,900 bopd gross for the first quarter, in line with expectations. In February 2026, the TEN partnership finalized a sale and purchase agreement to acquire the TEN FPSO at the end of its current lease. Signing the agreement is expected to significantly reduce TEN operating costs and positively impact leverage in 2026 and beyond.

Also in February, the Ghanaian parliament formally ratified the license extensions for the West Cape Three Points and Deepwater Tano Petroleum Agreements, which cover the Jubilee and TEN fields, following government approval of the extensions in December. The licenses now extend to 2040. With an extended license period, the partnership is aligned on securing a rig for the 2027/2028 drilling campaign, which is expected to include up to ten wells and start in mid-2027.

Gulf of America

Production in the Gulf of America averaged approximately 16,800 boepd net (~84% oil) during the first quarter, in line with guidance, with strong performance from the Kosmos-operated Odd Job and Kodiak fields. Early in the second quarter, the Winterfell-2 well was shut in pending future intervention.

On Tiberius, in the outboard Wilcox play, Kosmos (operator, 50% working interest) took final investment decision with our partner Occidental (50% working interest) in March. The project targets first oil in the second half of 2028, with long-lead items already secured and most of the capital expected in 2027 and 2028. A farm down to reduce Kosmos’ working interest to ~33% has now commenced and is expected to close later this year.

As previously announced, Kosmos deepened its inventory of future opportunities for its infrastructure-led exploration (ILX) strategy in the Gulf of America, entering into a strategic alliance with Shell in February in the Norphlet trend. Shell and Kosmos now have alignment over ten blocks in the Gulf of America to explore multiple high-potential prospects, including Trailblazer, a prospect with significant potential (~200 mmboe gross). In the event of success, it could be tied back into Shell’s nearby Appomattox platform. Drilling of Trailblazer is planned for the first half of 2027 with Kosmos designated as development operator.

Equatorial Guinea

Production in Equatorial Guinea averaged approximately 16,000 bopd gross and 5,600 bopd net in the first quarter. Kosmos lifted 0.4 cargos from Equatorial Guinea during the quarter in line with guidance.

In February, Kosmos announced that it entered into an agreement to sell its 40.375% non-operating working interest in the Ceiba Field and Okume Complex production assets to Panoro Energy for up to $220 million. Proceeds will be used to reduce borrowings outstanding under the RBL. The transaction has been approved by the Government of Equatorial Guinea and is expected to close around midyear 2026, subject to customary CEMAC approval.

(1) A Non-GAAP measure, see attached reconciliation of non-GAAP measure. Net debt excludes $80.1 million TEN FPSO finance lease liability. For purposes of the debt cover ratio calculation under the RBL Facility, the finance lease liability is included in net debt.
(2) Production means net entitlement volumes. In Ghana, Equatorial Guinea, and Mauritania and Senegal this means those volumes net to Kosmos’ working interest or participating interest and net of royalty or production sharing contract effect. In the Gulf of America, this means those volumes net to Kosmos’ working interest and net of royalty.

Conference Call and Webcast Information

Kosmos will host a conference call and webcast to discuss first quarter 2026 financial and operating results today, May 5, 2026, at 10:00 a.m. Central time (11:00 a.m. Eastern time). The live webcast of the event can be accessed on the Investors page of Kosmos’ website at http://investors.kosmosenergy.com/investor-events. The dial-in telephone number for the call is +1-800-715-9871. Callers in the United Kingdom should call 0800 260 6466. Callers outside the United States should dial +1-646-307-1963. A replay of the webcast will be available on the Investors page of Kosmos’ website for approximately 90 days following the event.

About Kosmos Energy

Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world’s growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit www.kosmosenergy.com.

Non-GAAP Financial Measures

EBITDAX, Adjusted net income (loss), Adjusted net income (loss) per share, free cash flow, and net debt are supplemental non-GAAP financial measures used by management and external users of the Company’s consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. The Company defines EBITDAX as Net income (loss) plus (i) exploration expense, (ii) depletion, depreciation and amortization expense, (iii) equity based compensation expense, (iv) unrealized (gain) loss on commodity derivatives (realized losses are deducted and realized gains are added back), (v) (gain) loss on sale of oil and gas properties, (vi) interest (income) expense, (vii) income taxes, (viii) debt modifications and extinguishments, (ix) doubtful accounts expense and (x) similar other material items which management believes affect the comparability of operating results. The Company defines Adjusted net income (loss) as Net income (loss) adjusted for certain items that impact the comparability of results. The Company defines free cash flow as net cash provided by operating activities less Oil and gas assets, Other property, and certain other items that may affect the comparability of results and excludes non-recurring activity such as acquisitions, divestitures and National Oil Company (“NOC”) financing. NOC financing refers to the amounts funded by Kosmos under the Carry Advance Agreements that the Company has in place with the national oil companies of each of Mauritania and Senegal related to the financing of the respective national oil companies’ share of certain development costs at Greater Tortue Ahmeyim. The Company defines net debt as total long-term debt less cash and cash equivalents and total restricted cash.

We believe that EBITDAX, Adjusted net income (loss), Adjusted net income (loss) per share, free cash flow, Net debt and other similar measures are useful to investors because they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the oil and gas sector and will provide investors with a useful tool for assessing the comparability between periods, among securities analysts, as well as company by company. EBITDAX, Adjusted net income (loss), Adjusted net income (loss) per share, free cash flow, and net debt as presented by us may not be comparable to similarly titled measures of other companies.

This release also contains certain forward-looking non-GAAP financial measures, including free cash flow. Due to the forward-looking nature of the aforementioned non-GAAP financial measures, management cannot reliably or reasonably predict certain of the necessary components of the most directly comparable forward-looking GAAP measures, such as future impairments and future changes in working capital. Accordingly, we are unable to present a quantitative reconciliation of such forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures. Amounts excluded from these non-GAAP measures in future periods could be significant.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Kosmos Energy Ltd. Consolidated Statements of Operations (In thousands, except per share amounts, unaudited)
		Three Months Ended
		March 31,
			2026				2025
Revenues and other income:
Oil and gas revenue		$	370,728			$	290,135
Other income, net			169				296
Total revenues and other income			370,897				290,431
Costs and expenses:
Oil and gas production			130,595				167,308
Exploration expenses			19,744				9,669
General and administrative			27,710				26,255
Depletion, depreciation and amortization			119,873				120,667
Interest and other financing costs, net			58,802				51,842
Derivatives, net			251,996				6,732
Other expenses, net			3,264				1,989
Total costs and expenses			611,984				384,462
Loss before income taxes			(241,087	)			(94,031	)
Income tax expense (benefit)			(15,513	)			16,575
Net loss		$	(225,574	)		$	(110,606	)
Net loss per share:
Basic		$	(0.45	)		$	(0.23	)
Diluted		$	(0.45	)		$	(0.23	)
Weighted average number of shares used to compute net loss per share:
Basic			506,198				475,681
Diluted			506,198				475,681

Kosmos Energy Ltd. Condensed Consolidated Balance Sheets (In thousands, unaudited)
		March 31,			December 31,
		2026			2025
Assets
Current assets:
Cash and cash equivalents		$	129,957		$	91,518
Receivables, net			110,510			103,472
Assets held for sale			18,707			—
Other current assets			194,268			232,884
Total current assets			453,442			427,874
Property and equipment, net			3,367,489			3,733,784
Non-current assets held for sale			408,895			—
Other non-current assets			553,616			534,968
Total assets		$	4,783,442		$	4,696,626
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	194,969		$	202,555
Accrued liabilities			332,078			237,609
Current maturities of long-term debt			30,220			132,143
Liabilities held for sale			43,544			—
Other current liabilities			156,243			—
Total current liabilities			757,054			572,307
Long-term liabilities:
Long-term debt, net			2,866,043			2,920,616
Deferred tax liabilities			134,750			305,924
Long-term liabilities held for sale			260,601			—
Other non-current liabilities			249,885			369,189
Total long-term liabilities			3,511,279			3,595,729
Total stockholders’ equity			515,109			528,590
Total liabilities and stockholders’ equity		$	4,783,442		$	4,696,626

Kosmos Energy Ltd. Condensed Consolidated Statements of Cash Flow (In thousands, unaudited)
		Three Months Ended
		March 31,
			2026				2025
Operating activities:
Net loss		$	(225,574	)		$	(110,606	)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depletion, depreciation and amortization (including deferred financing costs)			122,465				122,551
Deferred income taxes			(49,013	)			1,811
Unsuccessful well costs and leasehold impairments			14,541				1,903
Change in fair value of derivatives			302,976				7,586
Cash settlements on derivatives, net(1)			(81,321	)			494
Equity-based compensation			5,950				8,361
Debt modifications and extinguishments			(1,217	)			—
Other			(7,561	)			(5,597	)
Changes in assets and liabilities:
Net changes in working capital			25,310				(27,391	)
Net cash provided by (used in) operating activities			106,556				(888	)
Investing activities
Oil and gas assets			(87,047	)			(90,245	)
Notes receivable and other investing activities			(11,598	)			(44,048	)
Net cash used in investing activities			(98,645	)			(134,293	)
Financing activities:
Borrowings under long-term debt			124,167				100,000
Payments on long-term debt			(277,738	)			—
Net proceeds from issuance of senior notes and bonds			350,000				—
Repurchase and redemption of senior notes			(346,984	)			—
Net proceeds from issuance of common stock			206,440				—
Payments on finance lease			(5,262	)			—
Other financing costs			(7,731	)			—
Net cash provided by financing activities			42,892				100,000
Net increase (decrease) in cash, cash equivalents and restricted cash			50,803				(35,181	)
Cash, cash equivalents and restricted cash at beginning of period			117,744				85,277
Cash, cash equivalents and restricted cash at end of period(2)		$	168,547			$	50,096

(1) Cash settlements on commodity hedges were $(30.3) million and $(1.8) million for the three months ended March 31, 2026 and 2025, respectively.

(2) Includes cash reported within current assets held for sale on the Consolidated Balance Sheets relating to the Ceiba and Okume Complex located in Block G offshore Equatorial Guinea cash held for sale.

Kosmos Energy Ltd. EBITDAX (In thousands, unaudited)
	Three Months Ended								Twelve Months Ended
	March 31, 2026				March 31, 2025				March 31, 2026
Net loss	$	(225,574	)		$	(110,606	)		$	(814,754	)
Exploration expenses		19,744				9,669				233,691
Depletion, depreciation and amortization		119,873				120,667				555,980
Impairment of long-lived assets		—				—				177,563
Equity-based compensation		5,950				8,361				25,542
Derivatives, net		251,996				6,732				191,599
Cash settlements on commodity derivatives		(30,341	)			(1,751	)			(18,197	)
Other expenses, net(1)		3,263				1,989				14,766
Gain on sale of assets		—				—				(2,200	)
Interest and other financing costs, net		58,802				51,842				230,390
Income tax expense (benefit)		(15,513	)			16,575				33,117
EBITDAX	$	188,200			$	103,478			$	627,497
Pro Forma Adjustment – TEN FPSO Lease(1)		—				—				47,421
Pro Forma EBITDAX		188,200				103,478				674,918
EBITDAX – M|S		(5,784	)			(57,932	)			(77,333	)
Pro Forma EBITDAX – Base Business	$	193,984			$	161,410			$	752,251

(1) Adjustment to present Pro Forma EBITDAX for the impact to operational expense for the periods presented resulting from executing the TEN FPSO finance lease transaction.

The following table presents our net debt as of March 31, 2026 and December 31, 2025:

		March 31,			December 31,
		2026			2025
Total long-term debt		$	2,946,876		$	3,100,274
Cash and cash equivalents			129,957			91,518
Cash included in assets held for sale			7,960			—
Total restricted cash			30,630			26,226
Net debt(1)		$	2,778,329		$	2,982,530

(1) Excludes $80.1 million TEN FPSO finance lease liability.

Kosmos Energy Ltd. Adjusted Net Income (Loss) (In thousands, except per share amounts, unaudited)
	Three Months Ended
	March 31,
		2026				2025
Net loss	$	(225,574	)		$	(110,606	)
Derivatives, net		251,996				6,732
Cash settlements on commodity derivatives		(30,341	)			(1,751	)
Other, net(2)		3,259				1,664
Write-off of leasehold costs		13,181				—
Debt modifications and extinguishments		(1,217	)			—
Total selected items before tax		236,878				6,645
Income tax (expense) benefit on adjustments(1)		(46,926	)			(1,465	)
Adjusted net income (loss)	$	(35,622	)			(105,426	)
Net loss per diluted share	$	(0.45	)		$	(0.23	)
Derivatives, net		0.50				0.01
Cash settlements on commodity derivatives		(0.06	)			—
Write-off of leasehold costs		0.03				—
Total selected items before tax		0.47				0.01
Income tax (expense) benefit on adjustments(1)		(0.09	)			—
Adjusted net income (loss) per diluted share	$	(0.07	)		$	(0.22	)
Weighted average number of diluted shares		506,198				475,681

(1) Income tax expense is calculated at the statutory rate in which such item(s) reside. Statutory rates for the U.S., Equatorial Guinea and Ghana are 21%, 25% and 35%, respectively.

Kosmos Energy Ltd. Free Cash Flow (In thousands, unaudited)
	Three Months Ended
	March 31,
		2026				2025
Reconciliation of free cash flow:
Net cash provided by (used in) operating activities	$	106,556			$	(888	)
Net cash used for oil and gas assets		(87,047	)			(90,245	)
Payments on finance lease		(5,262	)			—
Free cash flow		14,247				(91,133	)
Net cash provided by (used in) operating activities – M|S		(4,400	)			14,971
Net cash used for oil and gas assets – M|S		(1,714	)			(49,943	)
Base business free cash flow	$	20,361			$	(56,161	)

Kosmos Energy Ltd. Operational Summary (In thousands, except barrel and per barrel data, unaudited)
	Three Months Ended
	March 31,
		2026					2025
Net Volume Sold
Oil (MMBbl)		4.414					3.659
Gas (MMcf)		12.749		(1)			4.172		(1)
NGL (MMBbl)		0.104					0.091
Total (MMBoe)		6.643					4.445
Total (MBoepd)		73.809					49.393
Revenue
Oil sales	$	297,011				$	270,405
Gas sales		72,104					17,629
NGL sales		1,613					2,101
Total oil and gas revenue		370,728					290,135
Cash settlements on commodity derivatives		(30,341	)				(1,751	)
Realized revenue	$	340,387				$	288,384
Oil and Gas Production Costs	$	130,595		(1)		$	167,308		(1)
Sales per Bbl/Mcf/Boe
Average oil sales price per Bbl	$	67.29				$	73.90
Average gas sales price per Mcf		5.66					4.23
Average NGL sales price per Bbl		15.51					23.09
Average total sales price per Boe		55.81					65.27
Cash settlements on commodity derivatives per Boe		(4.57	)				(0.39	)
Realized revenue per Boe		51.24					64.87
Oil and gas production costs per Boe	$	19.66				$	37.64
Oil and gas production costs per Boe ex. M/S (1)	$	14.24				$	24.99

(1) Includes $55.3 million and $58.1 million for the three months ended March 31, 2026 and 2025, respectively, of oil and gas production costs related to the LNG production at the GTA Phase 1 project in Mauritania and Senegal. GTA Phase 1 project LNG sales volumes for the three months ended March 31, 2026 and 2025 were 1.357 MMboe and 0.1 MMboe, respectively. First LNG was achieved in February 2025 and the first LNG cargo was successfully completed in April 2025.

Kosmos was underlifted by approximately 1.3 million barrels of oil equivalent (mmboe) as of March 31, 2026.

Kosmos Energy Ltd. Hedging Summary As of March 31, 2026(1) (Unaudited)
						Weighted Average Price per Bbl
		Index		MBbl		Floor(2)			Sold Put		Ceiling
2026:
Two-way collars 1H26		Dated Brent		500		$	60.00		—		$	74.75
Three-way collars FY26		Dated Brent		1,500			60.00		50.00			75.51
Swaps 1H26		Dated Brent		500			72.90		—			—
Swaps FY26		Dated Brent		2,250			70.62		—			—
Swaps FY26		WTI		1,000			64.83		—			—
2027:
Three-way collars 1H27		Dated Brent		2,000			70.00		55.00			85.00
Three-way collars FY27		Dated Brent		2,000			60.00		47.50			75.00

(1) Please see the Company’s filed 10-K for additional disclosure on hedging material. Includes hedging position as of March 31, 2026 and hedges put in place through filing date.
(2) “Floor” represents floor price for collars and strike price for purchased puts.

Note: Excludes 0.6 MMBbls of Dated Brent sold calls with a strike price of $100.00 per Bbl, 0.7 MMBbls of Dated Brent sold calls with a strike price of $80.00 per Bbl and 1.5 MMBbls of Dated Brent sold puts with a strike price of $55.00 in 2026. Excludes 1.0 MMBbls of WTI sold puts with a strike price of $50.00 in 2026.

2026 Guidance
	2Q 2026	FY 2026
Production(1,2,3)	70,000 – 74,000 boe per day	70,000 – 78,000 boe per day
Opex	$25.00 – $28.00 per boe	$20.00 – $22.00 per boe
DD&A	$15.50 – $17.50 per boe	$18.00 – $20.00 per boe
G&A(~65% cash)	$20-$25 million	~$75 million
Exploration Expense(4)	~$5 million	$10 – $30 million
Net Interest Expense	$55 – $65 million	$230 – $250 million
Tax	$10.00 – $13.00 per boe	$5.00 – $7.00 per boe
Capital Expenditure	$100 – $125 million	~$350 million

Note: Ghana / Equatorial Guinea / Mauritania & Senegal revenue calculated by number of cargos. All guidance includes Equatorial Guinea assets. Revised guidance to be issued post the closing of transaction. Guidance includes Equatorial Guinea contribution of approximately 6,000 boepd of production, operating costs of $45-55/barrel and ~$15 million of capital expenditures.

(1) 2Q 2026 net cargo forecast – Ghana: 3-4 cargos / Equatorial Guinea: 0.4 cargo. FY 2026 Ghana: 12-13 cargos / Equatorial Guinea 2-3 cargos. Average cargo sizes 950,000 barrels of oil.
(2) 2Q 2026 gross cargo forecast – Mauritania & Senegal: 8-9 cargos. FY 2026: 32-36 cargos. Average cargo size ~170,000 m³ with Kosmos NRI of ~24%. Kosmos expects 0.3 net condensate cargos in 2Q26
(3) Gulf of America Production: 2Q 2026 forecast 14,000 – 16,000 boe per day. FY 2026: 15,000-17,000 boe per day. Oil/Gas/NGL split for 2026: ~83%/~11%/~6%.
(4) Excludes leasehold impairments and dry hole costs.

Source: Kosmos Energy Ltd.

Investor Relations

Jamie Buckland
+44 (0) 203 954 2831
[email protected]

Media Relations

Thomas Golembeski
+1-214-445-9674
[email protected]

HOUSTON, May 05, 2026 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today announced the timing of its first quarter 2026 earnings release and conference call.

The Company will issue its first quarter 2026 earnings release on Thursday, May 7, 2026 after the close of trading on the New York Stock Exchange and host a conference call to discuss its financial and operational results on Friday morning, May 8, 2026 at 8:00 a.m. Central Time (9:00 a.m. Eastern Time and 2:00 p.m. London Time).

Interested parties in the United States may participate toll-free by dialing (833) 685-0907. Interested parties in the United Kingdom may participate toll-free by dialing 08002799489. Other international parties may dial (412) 317-5741. Participants should ask to be joined to the “Vaalco Energy Earnings Conference Call.” This call will also be webcast on VAALCO’s website at www.vaalco.com. An audio replay will be available on the Company’s website following the call.

About Vaalco

Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea and Nigeria.

Vaalco’s Legal Entity Identifier (LEI) is 549300CFHFVIWB8M6T24.

For Further Information

Vaalco Energy, Inc. (General and Investor Enquiries)	+00 1 713 543 3422
Website:	www.vaalco.com
Al Petrie Advisors (US Investor Relations)	+00 1 713 543 3422
Al Petrie / Chris Delange
Burson Buchanan (UK Financial PR)	+44 (0) 207 466 5000
Barry Archer	[email protected]

MAHWAH, N.J., May 05, 2026 (GLOBE NEWSWIRE) — Radware (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced a partnership with Chief Telecom (TPEx: 6561) to power Godshield Pro, a new DDoS protection service designed to deliver high-performance, low-latency mitigation for enterprises in Taiwan. Godshield Pro integrates Radware’s AI-driven DDoS protection with Chief Telecom’s local network backbone, enabling in-network mitigation while minimizing latency typically introduced by cloud-based scrubbing services. 

Enterprises are facing increasingly large and complex DDoS attacks that can disrupt operations and degrade user experience. Many traditional mitigation approaches route traffic outside the local network, creating avoidable latency and performance risk. Godshield Pro addresses this by performing scrubbing directly within Chief Telecom’s infrastructure while maintaining the ability to scale seamlessly to Radware’s global cloud when needed.

“Service providers are looking for ways to deliver high-performance security services without compromising network experience,” said Alan Lee, general manager, Radware Taiwan and Hong Kong. “This deployment demonstrates how Radware’s hybrid architecture enables localized protection with seamless cloud expansion.”

The service is designed to provide in-network mitigation combined with elastic expansion to Radware’s global scrubbing capacity of up to 30 Tbps. It is offered as a subscription-based service, eliminating the need for enterprises to deploy and manage on-premises hardware.

“Chief Telecom’s network is built to deliver performance and resilience at scale,” said Jerry Shao, chairman of Chief Telecom. “With Godshield Pro, we are giving enterprises a straightforward way to strengthen their DDoS defenses while maintaining consistent, high-quality network performance.”

About Radware 
Radware^® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, API, and AI security solutions use AI-driven algorithms for precise, behavior-based, real-time protection against sophisticated web, application, and DDoS attacks, API abuse, business logic threats, and malicious bots. Radware delivers end-to-end API security, including discovery, posture management, testing, and runtime protection, along with advanced protection for AI agents and models. Enterprises and carriers worldwide rely on Radware to address evolving cyberthreats, protect their brands and business operations, and reduce costs. For more information, please visit the Radware website. 

Radware encourages you to join our community and follow us on Facebook, LinkedIn, Radware Blog, X, and YouTube.

©2026 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

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This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Any forward-looking statements made herein that are not statements of historical fact, including statements about Radware’s plans, objectives, expectations, beliefs, projections, future financial performance, business strategies, market opportunities, and developments in our industry, are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “forecast,” “target,” and similar expressions, as well as future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.”

Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global market and economic conditions; our dependence on independent distributors; disruptions in our supply chain, including shortages of components or manufacturing capacity; our reliance on a limited number of vendors; our ability to attract, train and retain qualified personnel; intense competition in the cybersecurity and application delivery markets; our ability to develop new solutions and enhance existing solutions; risks related to defects, vulnerabilities or failures in our products or services, including cybersecurity incidents affecting our systems or those of our customers; risks associated with the use of artificial intelligence technologies, including evolving regulatory frameworks, litigation exposure and reputational considerations; risks related to our information technology systems, including failures, disruptions or security breaches; outages, interruptions, or delays in hosting or cloud-based services; risks related to the interoperability of our products; risks associated with our global operations; and geopolitical risks, including instability in the Middle East and Israel.

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CONTACTS

Investor Relations:

Yisca Erez, +972-72-3917211, [email protected]

Media Contact:

Gina Sorice, [email protected]