Market Newsdesk

April 22, 2026 10:15 pm

Woodside Energy AGM Address by Chair Richard Goyder and CEO Liz Westcott

Woodside Energy AGM Address by Chair Richard Goyder and CEO Liz Westcott

PERTH, Australia–(BUSINESS WIRE)–
In accordance with the Listing Rules, please see attached announcement relating to the above, for release to the market.

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

Forward-looking statements

This announcement contains forward-looking statements. These statements may relate to Woodside’s business, goals, plans, targets, aspirations, expectations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding timing, completion and outcomes of transactions, constructions costs and capital expenditures, supply and demand for Woodside’s products, development, completion and execution of Woodside’s projects, the expected benefits, cash flows and rates of return or other future results of investments, strategies and transactions, the payment of future dividends and the amount thereof, future results of projects, operating activities and new energy products, expectations and guidance with respect to production, production costs and other costs, losses, capital expenditure, abandonment expenditure, exploration expenditure, and gas hub exposure, trends in commodity prices and currency exchange rates, adoption and implementation of new technologies and expectations regarding the achievement of Woodside’s Scope 1 and 2 greenhouse gas emissions targets and Scope 3 investment and emissions abatement targets (in each case on a net equity or gross equity basis as specified) and other climate and sustainability goals.. All forward-looking statements contained in this announcement reflect Woodside’s views held as at the date of this announcement. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as “aim”, “anticipate”, “aspire”, “believe”, “enable”, “estimate”, “expect”, “forecast”, “foresee”, “guidance”, “intend”, “likely”, “may”, “objective”, “outlook”, “pathway”, “plan”, “position”, “potential”, “project”, “schedule”, “seek” “should”, “strategy”, “strive”, “target”, “will” and other similar words or expressions.

Forward-looking statements in this announcement are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of aspirational targets that Woodside has set for itself and its management of the business. Those statements and any assumptions on which they are based are only opinions, are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives.

Details of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this announcement.

Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements.

All information included in this announcement, including any forward-looking statements, speak only as of the date of this announcement and, except as required by law or regulation, Woodside does not undertake to update or revise any information or forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise.

Chair and CEO Addresses: 2026 Annual General Meeting

Richard Goyder and Liz Westcott

Thursday, 23 April 2026

Chair Richard Goyder

Good morning everyone, and a warm welcome to Woodside’s 2026 Annual General meeting.

I am informed that a quorum is present and formally declare the meeting open.

I also open the poll for voting on all items of business.

I would like to begin by acknowledging the Whadjuk people of the Noongar nation as the Traditional Custodians of the land on which we meet today, and pay my respects to Elders past and present.

Today’s event is a valuable opportunity for Woodside’s Board and management to hear directly from our shareholders and respond to your questions.

I am joined on stage this morning by our Chief Executive Officer and Managing Director, Liz Westcott, and Vice President and Group Company Secretary, Damien Gare.

Every member of Woodside’s Board of Directors is also here in the room.

Nick Henry and Leanne Hassell, representing our auditors, PwC, are also present today.

We will take shareholder questions on all items of business in one question and answer session.

Only shareholders, their attorneys, proxies and authorised company representatives are entitled to speak and vote at this meeting.

If you’re a shareholder or proxyholder joining online, please start submitting any questions now.

You can do this through the same platform you are watching the webcast on.

Instructions for submitting written questions online are shown on screen now, and instructions for submitting verbal questions online will be shown shortly.

We try to take questions on a broad range of topics, so questions are not taken in the order in which they are received. Questions submitted online may be grouped together if there are multiple questions on the same topics. Given the volume of questions we receive, we may not get to answer every question.

Thank you.

Chair’s Address

On behalf of the Board, I would like to update you on Woodside’s progress as we position our company to meet growing energy demand and deliver long-term value to all our stakeholders.

Since I spoke to you at last year’s AGM, geopolitical tensions have worsened and global energy markets have become more volatile.

The Middle East conflict and its impacts on economies around the world – including here in Australia – has once again highlighted the critical importance of energy security, affordability and reliability.

Woodside has been, and is, a reliable supplier of energy which Australia and the world now needs more than ever.

In this complex and unpredictable environment, investors are looking for Woodside to build a profitable and resilient business that can deliver consistent, long-term returns.

And stakeholders are counting on Woodside to deliver our commitments by operating responsibly and sustainably, and contributing to local economies and communities.

I am pleased to report that Woodside continues to meet these expectations.

In 2025 we achieved outstanding production and financial results, delivered strong sustainability performance, and continued setting the foundations for Woodside’s long-term success.

This includes the Board’s appointment last month of Liz Westcott as Woodside’s CEO and Managing Director.

We are delighted with Liz’s appointment, which followed a seamless transition process after Meg O’Neill departed Woodside in December to accept the role of CEO at bp.

Meg led with clarity and conviction during a transformative period for Woodside, and the Board thanks Meg for her valued contribution.

Liz has an exceptional track record of leadership and achievement across more than 30 years in the global energy industry. She is ideally suited to lead Woodside through our next phase of disciplined growth and value.

You will have seen our operating results in our annual report and ASX filings and so I won’t repeat the numbers here.

We have continued Woodside’s impressive track record of rewarding those who invest in our company, having now returned approximately $12 billion of dividends to shareholders since our merger with BHP’s petroleum business.

Importantly, we are delivering these returns while maintaining a strong balance sheet to invest in future growth and value creation.

Amid geopolitical uncertainty and a complex energy transition, countries around the world are increasingly prioritising energy security and affordability alongside decarbonisation.

Growth in demand for renewables is occurring alongside of – not in place of – increased consumption of oil and natural gas, which Woodside expects to remain essential energy sources for decades to come.

Woodside’s liquefied natural gas offers Asian economies a reliable and lower-carbon alternative to higher greenhouse gas emitting coal, which still accounts for 90% of the region’s power sector emissions.

Our domestic gas provides a firming resource for intermittent renewables here in Australia and is a key energy source for the mining and manufacturing sectors that drive our national wealth.

In a volatile global environment, Australia has an important responsibility to remain a reliable energy supplier to regional trading partners. We also have a significant opportunity to develop new gas reserves that could underpin national energy security and sovereign capability.

We are proudly an Australian company which has – and continues to make – a significant contribution to our national wealth. We will continue to support our Australian customers and will invest for future growth, as long as the investment case stacks up.

An example of the investment is the $12.5 billion we and our partners are investing in the Scarborough Energy Project. We are yet to earn one dollar from making this huge investment, but it has generated more than 3000 local construction jobs, and it will provide enough energy for approximately eight million homes for 30 years.

Maintaining a stable fiscal and policy environment is critical to Australia achieving these goals. Importantly, that includes the tax regime in Australia.

Woodside’s climate approach balances ambition with discipline and achievability.

We have delivered our 2025 net equity Scope 1 and Scope 2 greenhouse gas emissions reduction target and are making good progress towards our 2030 target.

Woodside also continues to invest strategically in new energy products and lower-carbon solutions, including our Beaumont New Ammonia Project.

We are very disciplined with our investments in this area, carefully monitoring policy developments and staying closely aligned with customer needs.

As the Board sets the strategic framework for Woodside to deliver long-term value for our shareholders, we remain focused on succession planning to maintain the high standards of oversight and governance our shareholders rightly expect.

We have appointed seven new directors since 2020 with significant experience in areas that complement the expertise of our longer-serving directors.

Today, we ask shareholders to elect Mr Mark Cutifani CBE as a Director.

Mark’s experience leading large global resource companies through periods of transformation and performance improvements will further strengthen the Board’s oversight of strategy, risk and long-term value creation. I commend Mark to you.

Four other directors standing for re-election today – Larry Archibald, Swee Chen Goh, Arnaud Breuillac, and Angela Minas – have proven themselves valued members of our Board with complementary skills and experience. I commend Larry, Swee Chen, Arnaud and Angela to you.

Finally, Ian Macfarlane retires from the Board at the conclusion of today’s meeting, following almost 10 years of invaluable service as a Director. The Board and I extend our sincere thanks to Ian, and wish him all the best for the future.

With these changes to our Board composition, I want to assure shareholders that we are mindful of The Corporations Act requirement for at least two directors of a public company to ordinarily reside in Australia. Woodside currently has three Directors that permanently reside in Australia: me, Liz Westcott and Ben Wyatt.

Can I close by thanking my fellow Board members, Liz and her leadership team, and everyone at Woodside for another outstanding year.

And most of all, I would like to thank you, our shareholders, for continuing to put your trust in Woodside.

I am very confident this trust will translate into long-term benefits as we build a resilient, cash‑generative business that is well positioned to deliver enduring value.

As I hand over to Liz, please take a moment to watch this video highlighting our achievements over the past year.

CEO and Managing Director Liz Westcott

Hello everyone, and thank you for joining us in person and online.

It’s a great pleasure to address our shareholders for the first time as Woodside’s CEO and Managing Director.

I am honoured to lead this great company, with highly talented people and a proud track record.

My focus as CEO, supported by our strong leadership team, is on disciplined delivery to our plan.

Creating long-term value for Woodside shareholders, maintaining safe and reliable operations, and executing major growth projects to budget and schedule.

As Richard noted, the conflict in the Middle East has caused significant disruption to global energy markets. We continue to monitor these events with concern for the people impacted.

It is a dramatic reminder that reliable and affordable energy remains key to global economic growth, and the quality of life we enjoy in countries like Australia.

As a secure and reliable supplier, with a flexible portfolio and trusted relationships, Woodside is well positioned to continue delivering for our customers.

In 2025 Woodside achieved outstanding operational and financial results.

By maximising performance of our high-quality assets, we delivered record annual production exceeding full-year guidance.

This was driven by the exceptional performance at Sangomar and world-class reliability at our operated Australian LNG assets.

We combined this with improved efficiency, reducing unit production costs by four percent from 2024.

We advanced major cash-generative projects to budget and schedule, setting the foundations for Woodside’s next chapter of long-term growth and value.

This included excellent progress on our Scarborough Energy Project, which remains on track for first LNG cargo in the fourth quarter of this year.

We achieved first production at Beaumont New Ammonia and made strong progress on our Trion Project, which is targeting first oil in 2028.

And we took the final investment decision to develop the Louisiana LNG Project, positioning Woodside as a global LNG powerhouse.

Since that decision we’ve made great progress on the project, which is targeting first LNG in 2029.

Its value to Woodside has been reinforced through key infrastructure, offtake and gas supply agreements signed with high-quality global partners.

As nations around the world prioritise energy security and affordability alongside decarbonisation, Woodside is confident in ongoing demand for LNG as a reliable and flexible energy source.

Over the past year, Woodside has signed six new long-term LNG supply agreements with customers in Asia and Europe, some of which extend into the early 2040s.

Our quality global portfolio, and established marketing and shipping capabilities, position us well to meet growing demand and capture additional value as Scarborough and Louisiana LNG come on-line.

Woodside also remains a key supplier of reliable and affordable energy to Australian homes and businesses.

We supply 21% of Western Australia’s gas market, including to the state’s mining and minerals processing sectors. On the east coast, all of Woodside’s production is delivered locally, representing 19% of total supply.

To capitalise on growing energy demand and capture long-term value, we continue to actively manage our balance sheet and refine our portfolio.

Our agreement to assume operatorship of the Bass Strait assets, combined with our Chevron asset swap in Western Australia, will create economies of scale across our Australian portfolio.

Our divestment of the Greater Angostura assets in Trinidad and Tobago also highlights Woodside’s disciplined approach to portfolio management and continued focus on cost control.

Strong sustainability performance underpins Woodside’s ability to deliver long-term value, both for our shareholders and communities in which we operate.

In 2025, we made good progress across key sustainability areas.

We delivered improved safety performance across our global portfolio, with no high-consequence injuries recorded.

We reduced gross equity Scope 1 and 2 greenhouse gas emissions – that is actual emissions at source without offsets – from the prior year, despite higher oil and gas production.

We also continued to demonstrate that when Woodside does well, the communities where we operate benefit.

Woodside spent $9.3 billion globally on goods and services in 2025, including almost $5.4 billion in Australia, supporting local employment and business opportunities.

And we contributed a further $2 billion Australian dollars in taxes, royalties and levies to Australian federal and state governments.

I would like to close by thanking everyone at Woodside for their impressive delivery over the past year. I am very proud to be leading such a capable and dedicated team.

I would also like to echo Richard’s thanks to our shareholders. We appreciate your continued investment, and are committed to delivering you consistent, long-term returns.

Woodside’s financial position is very strong, our operations are running reliably, our growth projects are progressing well, and we are running our business responsibly and sustainably.

I have every confidence in our ability to keep delivering strong results in 2026 and beyond.

Thank you.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422428319/en/

INVESTORS

Vanessa Martin

M: +61 477 397 961

E: [email protected]

MEDIA

Christine Abbott

M: +61 484 112 469

E: [email protected]

KEYWORDS: Australia/Oceania Australia United States North America

INDUSTRY KEYWORDS: White House/Federal Government Public Policy/Government Other Energy Public Policy Oil/Gas Alternative Energy Energy

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April 22, 2026 8:33 pm

Core Scientific Announces Pricing of $3.3 Billion of Senior Secured Notes

Core Scientific Announces Pricing of $3.3 Billion of Senior Secured Notes

AUSTIN, Texas–(BUSINESS WIRE)–Core Scientific, Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-density colocation (“HDC”), today announced that its wholly-owned subsidiary, Core Scientific Finance I LLC (the “Issuer”), has priced an offering of $3.3 billion aggregate principal amount of 7.750% senior secured notes due 2031 (the “Notes”) at an issue price equal to 99.250% of the principal amount thereof. The Notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside of the United States pursuant to Regulation S under the Securities Act. The offering is expected to close on May 6, 2026, subject to customary closing conditions.

The Issuer intends to use the net proceeds from the offering to fund a debt service reserve account, and the remaining proceeds to make a distribution to Core Scientific. Core Scientific intends to use a portion of the net proceeds it receives from the Issuer to repay in full its outstanding delayed draw term loans under its previously announced 364-day credit facility, including accrued interest thereon and fees and expenses in connection therewith.

The Notes will be fully and unconditionally guaranteed by each of Core Scientific Austin LLC, Core Scientific Denton LLC, Core Scientific Dalton LLC, Core Scientific Marble LLC and Core Scientific Muskogee LLC, which, as of the issue date, will constitute the Issuer’s only subsidiaries (the “Subsidiary Guarantors”). The Notes and related note guarantees will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Subsidiary Guarantors, other than certain excluded property, (ii) all equity interests of the Issuer held by Core Scientific Finance Holding LLC, a Delaware limited liability company and the direct parent company of the Issuer, and (iii) certain assets and rights of Core Scientific.

Core Scientific will provide a customary completion guarantee with respect to the development and construction of certain datacenters located in Dalton, Georgia; Denton, Texas; Marble, North Carolina; and Muskogee, Oklahoma (collectively, the “Projects”) under which it will fund the Issuer as necessary to ensure the timely completion of the Projects in the event that the proceeds of the Notes and other available funds are insufficient to do so.

The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes were offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.

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

About Core Scientific

Core Scientific is a leader in designing, building and operating large scale, purpose-built data centers for HDC services. Core Scientific operates facilities for high-density colocation services and is a premier provider of digital infrastructure, software solutions and services to its third-party customers. Core Scientific has historically derived the majority of its revenue from earning digital assets for its own account but is rapidly increasing revenue derived from HDC. Core Scientific is in the process of repurposing its remaining non-HDC facilities to support its HDC services business as circumstances allow. Core Scientific’s facilities are located in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (3).

Special Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements may include words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the completion of the offering of the Notes, the intended use of the net proceeds from the offering of the Notes and the completion guarantee to be provided by the Company with respect to the Projects. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company.

These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions, known or unknown, that could cause actual results to vary materially from those indicated or anticipated. These risks, assumptions and uncertainties include those described in “Part I. Item 1A.—Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in the Company’s other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.

There may be additional risks that the Company could not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release and should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422973205/en/

Investors:

[email protected]

Media:

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KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Software Networks Internet Professional Services Hardware Data Management Apps/Applications Technology Digital Cash Management/Digital Assets Cryptocurrency Finance Telecommunications

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April 22, 2026 8:03 pm

ALDX INVESTOR REMINDER: Aldeyra Therapeutics, Inc. Investors Have Until May 29, 2026To Seek Lead Plaintiff Role

ALDX INVESTOR REMINDER: Aldeyra Therapeutics, Inc. Investors Have Until May 29, 2026To Seek Lead Plaintiff Role

NEW YORK–(BUSINESS WIRE)–
If you have suffered a loss on your Aldeyra Therapeutics, Inc. (“Aldeyra” or the “Company”) (NASDAQ:ALDX) investment, contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost.

Investors have until May 29, 2026 to ask the Court to appoint them as lead plaintiff. Courts do not consider applications filed after this deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions.

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is The Lawsuit About?

The lawsuit has been filed on behalf of investors who purchased securities during the period of November 3, 2023 through March 16, 2026, inclusive (“the Class Period”). The lawsuit alleges that Aldeyra failed to disclose that (1) the results of the reproxalap (an Aldeyra drug candidate) clinical trials were inconsistent; and (2) the inconsistency of the results rendered any purported positive findings from these trials unreliable and not meaningful.

On March 17, 2026, the Company filed with the SEC a current report on Form 8-K, announcing receipt of a Complete Response Letter from the FDA, stating that there is “a lack of substantial evidence consisting of adequate and well-controlled investigations … that the drug product will have the effect it purports or is represented to have under the conditions of use prescribed, recommended, or suggested in its proposed labeling” and that “the application has failed to demonstrate efficacy in adequate and well controlled studies in the treatment of signs and symptoms of dry eye disease.” The Complete Response Letter also stated that the “inconsistency of study results raises serious concerns about the reliability and meaningfulness of the positive findings” and that “the totality of evidence from the completed clinical trials does not support the effectiveness of the product.” On this news, the price of Aldeyra shares declined by $2.99 per share, or approximately 71%, from $4.23 per share on March 16, 2026 to close at $1.24 on March 17, 2026.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

What Should I Do?

If you purchased or otherwise acquired Aldeyra securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

[WHAT IS A SECURITIES CLASS ACTION?]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422446490/en/

Kirby McInerney LLP

Lauren Molinaro, Esq.

212-699-1171

https://www.kmllp.com

https://securitiesleadplaintiff.com/

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal

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April 22, 2026 7:57 pm

Exicure Announces Co-Development Agreement with Adbiotech for Burixafor (GPC-100)

CHICAGO, April 22, 2026 (GLOBE NEWSWIRE) — Exicure, Inc. (Nasdaq: XCUR) today announced that it has entered into a co-development agreement with Adbiotech Co., Ltd. (KOSDAQ: 179530), a Korea-based biotechnology company, to explore combination therapies based on Burixafor (GPC-100) across multiple therapeutic areas.

The collaboration will focus on evaluating combination strategies involving Burixafor (GPC-100) in indications including sickle cell disease (SCD), acute myeloid leukemia (AML), and solid tumors.

Under the agreement, Adbiotech will conduct in vivo studies and support preclinical validation and translational research, while Exicure will provide Burixafor and lead clinical and regulatory strategy.

Burixafor successfully completed a Phase 2 clinical trial in multiple myeloma last year, providing a foundation for further evaluation in hematologic indications such as AML and SCD. Based on its clinical profile to date, Burixafor may have potential applicability in additional hematologic indications.

The parties intend to conduct in vivo validation studies and, subject to further agreement, may advance selected programs into IND-enabling studies and clinical trials. The parties also intend to secure funding to support the advancement of future clinical development.

Further details regarding development plans, budget, intellectual property, and commercialization will be determined in a subsequent definitive agreement.

A representative of Exicure commented, “This agreement represents an important step in expanding the evaluation of Burixafor in combination approaches across multiple indications.”

About Exicure, Inc.

Exicure, Inc. (Nasdaq: XCUR) has historically been an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. Following its restructuring and suspension of clinical and development activities, the Company is exploring strategic alternatives to maximize stockholder value. In January 2025, it acquired a clinical-stage biotechnology company developing therapeutics for hematologic diseases. The Company’s lead program in development is being evaluated for its ability to improve stem cell mobilization in multiple myeloma, sickle cell disease, and in support of cell and gene therapy. For more information, visit www.exicuretx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact may be deemed forward looking including, but not limited to, statements regarding: the Company’s current business plans and objectives, including the pursuit of strategic alternatives to maximize stockholder value, the timing of the equity investment closing and potential additional equity investment and the Nasdaq Hearings Panel process and potential results. Words such as “plans,” “expects,” “will,” “anticipates,” “continue,” “advance,” “believes,” “target,” “may,” “intend,” “could,” and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management’s current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, see the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission in connection with this press release, as updated by the Company’s subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.

Media Contact

Exicure, Inc.
[email protected]

April 22, 2026 7:57 pm

Elevra Lithium Quarterly Activities Report

BRISBANE, Australia, April 22, 2026 (GLOBE NEWSWIRE) — Elevra Lithium Limited (“Elevra” or “Company”) (ASX: ELV; NASDAQ: ELVR) delivered a quarter of improved operational results, positive cash flow, and continued progress across its growth portfolio.

North American Lithium

North American Lithium (NAL) achieved, for the first time, two consecutive months without any recordable injuries and the Total Recordable Injury Frequency Rate (TRIFR) also declined during the period, marking the third consecutive quarter in which safety performance has remained below the FY2026 TRIFR target.
Record revenue of US$81 million was up 22% quarter on quarter (QoQ). Year-to-date revenue of US$167 million was up 68% on the same period last year.
Mine development sequencing and waste stripping continued as planned resulting in ore uncovered for the quarter increasing by 25% compared to the previous quarter. The increase in available in-pit ore provided improved operational flexibility. Ore mining activity was aligned to production requirements, with 370,508 wet metric tonnes (wmt) mined, 5% lower QoQ.
Process plant utilisation improved to 94% which represents the best quarterly utilisation in operational history and is 5% higher QoQ. The improvement was driven by strong crushing plant performance and no planned shutdowns during the quarter.
Lithium recovery for the quarter was 66%, up 4% QoQ as efforts to improve ore sorting delivered feed with a higher lithium and lower iron content to the mill.
Spodumene concentrate production increased by 7% QoQ to 47,332 dry metric tonnes (dmt) at an average grade of 5.0%. High plant utilisation and process modifications improved production, and the Company currently remains on track to achieve its full year production guidance.
Spodumene sales were 55,526 dmt at an average realised selling price (FOB) of US$1,453/dmt. This was a 16% QoQ decline in tonnes sold, but a 46% increase in the average realised price per tonne as the Company continued to deliver tonnes into a strengthening lithium market.
Unit operating costs (per tonne sold) for NAL were US$884/dmt, a 9% increase compared to US$812 in the prior quarter, primarily reflecting the release of higher cost inventory associated with higher mining costs.
Elevra has only limited exposure to liquid fuel prices and reduced fuel availability, with diesel accounting for only ~5% of site operating costs and renewable hydroelectricity utilised in the process plant. Canada retains very high oil self-sufficiency with significant domestic production firming the supply chain for fuel within the country.
Capital expenditure of US$4 million for the quarter was related to various NAL sustaining capital projects.

Growth Projects

NAL Expansion

During the March 2026 quarter, Elevra announced an accelerated expansion approach for NAL which is designed to bring additional spodumene concentrate production online earlier than previously anticipated while optimising capital deployment and project sequencing¹.
Engineering activities for the accelerated expansion progressed, advancing the proposed, phased expansion pathway at NAL ahead of execution.
An updated NAL Expansion Scoping Study, reflecting the staged development approach announced on 12 January 2026, will be released in Q4 FY26.

Moblan

Environmental and permitting activities have continued as preparation of the Environmental and Social Impact Assessment (ESIA) continues.

Ewoyaa

The Parliament of Ghana ratified the Ewoyaa Mining Lease in March 2026, marking the formal approval of the Project after the Mining Lease was granted in October 2023².
Advancement of the Ewoyaa Project remains contingent on prevailing market conditions, the availability of suitable project financing and realignment of the joint venture structure with Atlantic Lithium.

Carolina Lithium

In February 2026, Elevra leadership hosted a town hall in Gaston County, North Carolina to provide local stakeholders with a Project update and engaged directly with residents and community leaders.
The Company finalised the acquisition of all contracted parcels located within the permit boundary defined in the May 2024 Mining Permit issued by the North Carolina Department of Environmental Quality’s Division of Energy, Mineral, and Land Resources.

Corporate

Cash at the March 2026 quarter end was US$113.0 million, reflecting profit generated from operations and favourable net working capital movements. Net cash was US$58.7 million (December 2025: US$26.4 million), with the prepayment facility balance of US$54.3 million.
Elevra signed a non-binding Memorandum of Understanding (MoU) with Mangrove Lithium to evaluate supplying spodumene concentrate from NAL for local downstream processing. The MoU establishes a framework for continued discussions and reflects Elevra’s strategy to integrate into downstream partnerships. Work will now commence on a definitive and binding agreement with Mangrove Lithium³.
Elevra reaffirms FY26 production guidance of 180,000–190,000 dmt, sales guidance of 170,000– 190,000 dmt subject to the shipping schedule being met, unit operating costs (per tonne sold) of $860–880/dmt, and capital expenditure of $26 million⁴.
Sales volumes for the June 2026 quarter will be subject to pricing linked to average market prices during October 2025-March 2026. The delivery of these volumes will bring the legacy contract with the lagged pricing mechanism to an end.

Management Commentary

Elevra delivered a strong March 2026 quarter, marked by improved operational performance at NAL, positive cash flow generation amid strengthening lithium market fundamentals, and continued advancement of key growth projects.

The March 2026 quarter marked an important period of operational execution, financial improvement, and strategic progress across Elevra’s portfolio. Following a challenging prior quarter, our team remained firmly focused on safety and operational discipline and delivered measurable improvements at NAL.

During the March 2026 quarter, NAL demonstrated an improved operating performance compared to the previous period. In response to challenging, transitory and temporary mining conditions, we implemented a set of targeted actions focused on recovery optimisation and production consistency. These initiatives have begun to deliver results – mining and processing performance improved sequentially, operational reliability increased, and production rebounded toward target levels. The performance reflects the resilience and discipline of the operating team and reinforces our confidence in NAL as a cornerstone asset within Elevra’s portfolio.

In parallel, we announced an accelerated expansion approach for NAL designed to bring additional capacity online earlier through a staged development pathway. Ongoing engineering work is advancing a three-stage expansion strategy intended to enhance capital efficiency, reduce execution risk, and align growth with market demand.

Financial performance during the March 2026 quarter was strong with 55,526 dmt sold at an average realised price (FOB) of US$1,453/dmt generating US$81 million in revenue. Our financial results demonstrate the leverage inherent in our portfolio as operational execution improves and market conditions strengthen.

Across our development portfolio, we achieved several important milestones. At Ewoyaa, the ratification of the Mining Lease by the Parliament of Ghana represented a major advancement towards de-risking and developing the country’s first lithium mine. At Carolina Lithium, we continued to proactively engage with local stakeholders and reinforce our commitment to transparency by hosting a town hall.

Recent geopolitical activity has driven significant swings in commodity markets and confirmed the importance of energy security through the development of local supply chains. To this effect, we announced a non-binding Memorandum of Understanding with Mangrove Lithium to explore collaboration opportunities in lithium refining and downstream processing. This engagement aligns with our strategy of participating more broadly across the lithium value chain while supporting the development of a North American battery materials ecosystem.

The March 2026 quarter reflected improved operational performance driven by focused execution and the operational actions implemented in response to challenges encountered in the prior quarter, demonstrating the resilience and adaptability of our operating teams. We believe Elevra Lithium is increasingly well positioned with existing production, scalable growth, and a strategy centred on disciplined execution and capital efficiency.

Mr Lucas Dow

Managing Director and CEO

Operational Financial Performance
	Unit	Q3 FY26	Q2 FY26	QoQ Variance		YTD FY26	YTD FY25	YTD Variance
North American Lithium ⁵
Ore mined	wmt	370,508	389,801	(5	%)	1,098,650	933,090	18	%
Ore processed	dmt	346,324	351,592	(1	%)	1,039,696	989,172	5	%
Recovery	%	66	62	4	%	66	68	(2	%)
Concentrate produced	dmt	47,332	44,154	7	%	143,489	146,324	(2	%)
Concentrate grade produced	%	5.0	4.9	0.1	%	5.0	5.3	(0.3	%)
Concentrate sold	dmt	55,526	66,016	(16	%)	147,517	142,058	4	%
Average realised selling price (FOB)⁶	US$/dmt	1,453	998	46	%	1,133	699	62	%
Revenue	US$M	81	66	22	%	167	99	68	%
Unit operating cost per tonne sold (FOB)⁷	US$/dmt	884	812	9	%	840	855	(2	%)
Group
Cash balance	US$M	113	81	39	%	113	56	102	%
USD : CAD	$	1.37	1.39	(2	%)	1.38	1.40	(1	%)
USD : AUD	$	1.44	1.52	(5	%)	1.50	1.54	(3	%)

Health and Safety

Safety remains a core priority across Elevra’s operations, with performance during the March 2026 quarter continuing to exceed the Company’s targets. The Total Recordable Injury Frequency Rate (TRIFR) declined during the period, marking the third consecutive quarter in which safety performance has remained below the FY2026 TRIFR target. North American Lithium achieved two consecutive months without any recordable injuries for the first time – which is an important milestone that reflects the growing maturity of safety practices at site. These results demonstrate the strength of Elevra’s safety culture, where risk management is embedded in daily operations and supported by an agile, operationally focused approach.

ESG and Community Engagement

Elevra continued to advance ongoing technical and environmental workstreams supporting key development projects. Environmental studies required for the NAL Expansion and the Moblan Project remain in progress, forming a foundation for permitting, project design, and development outcomes. In addition, the Company completed its first self-assessment submission under Canada’s Towards Sustainable Mining framework.

Community engagement activities also remained a key focus. At NAL, the Company engaged with members of the local Monitoring Committee to share updates on the planned expansion and provide early visibility on project scope and potential impacts. In North Carolina, engagement continued with local stakeholders near the Carolina Lithium Project, reinforcing Elevra Lithium’s commitment to transparent communication, responsible development, and maintaining strong relationships with host communities as projects progress.

North American Lithium

Mining

Increase in ore uncovered provides increased operational flexibility and resilience.

Mining activity for the March 2026 quarter focussed upon the disciplined execution of the planned mine development sequence. Specifically, these efforts resulted in a 25% increase in ore uncovered which enabled greater operational flexibility. Ore mined for the March 2026 quarter was aligned to ore crushing requirements and totalled 370,508 wmt which was 5% lower than the previous quarter.

The feed grade of ore delivered to the ROM stockpile averaged 1.07% Li₂O for the March 2026 quarter, which was an improvement from the previous quarter, while the iron content declined significantly.

Production

Production increased to 47,332 dmt of spodumene concentrate at an average grade of 5.0% for the March 2026 quarter.

The mill processed 346,324 tonnes of ore (down 1% QoQ) at an average feed grade of 1.03% Li₂O, with increased focus on ore sorting performance at the ROM stockpile and the crushing circuit reducing iron content in the mill feed.

Mill utilisation was 94%, a 5% QoQ increase and 14% increase from the same period last year. This is the best quarterly mill utilisation since the restart of operations. There were no planned shutdowns during the quarter and crushing plant performance contributed to mill stability during the winter period.

The Li₂O recovery for the March 2026 quarter was 66%, an increase from 62% in the December 2025 quarter. Improved feed grade (higher lithium content and lower iron content) contributed to the increase in recoveries, which was also aided by process modifications.

Elevra currently remains on track to achieve its full year production guidance of 180,000 – 190,000 dmt.

Sales

NAL revenue was US$81 million for the March 2026 quarter, as Elevra continued to recognise higher average realised selling prices amid a strong prevailing market.

This was the second consecutive quarter where Elevra recorded a new quarterly revenue record. The 23% QoQ increase in revenue was driven by a 46% increase in the average realised selling price per tonne (FOB) while spodumene concentrate tonnes sold declined by 16%. Total spodumene concentrate tonnes sold during the March 2026 quarter was 55,526 dry metric tonnes, with two cargoes sold during the quarter.

The average realised selling price (FOB) for the March 2026 quarter was US$1,453/dmt. Spodumene concentrate prices remained near multi-year highs throughout the quarter as the market remained tight amid a combination or strengthening demand and constrained supply. Demand expectations were supported by accelerating deployment of stationary storage and renewed interest in electric vehicles, driven in part by rising oil prices, while supply-side pressures persisted due to export restrictions in Africa and the continued closure of select Chinese mining operations.

A total of 20,462 tonnes of spodumene concentrate finished goods was stockpiled at NAL, in transit or at the Port of Québec as at 31 March 2026.

Sales volumes for the upcoming June 2026 quarter will be subject to a lagged pricing mechanism linked to average market prices applicable during October 2025-March 2026. The delivery of such volumes will bring the legacy contract with a lagged pricing mechanism to an end.

Elevra currently remains on track to achieve its full year sales guidance of 170,000–190,000 dmt.

Costs

Unit operating costs per tonne sold (FOB) for NAL were higher than the prior quarter at US$884/dmt sold with the release of higher cost inventory in the March 2026 quarter.

Unit operating costs per tonne sold increased 9% QoQ due to the release of higher cost inventory associated with higher mining costs.

Controllable costs during the March 2026 quarter remained elevated due to increased mining activity associated with Phase 3. This resulted in a 25% QoQ increase in ore uncovered and higher In-pit and ROM inventory at the end of the end of the March 2026 quarter, providing additional operational flexibility.

Rising energy prices at the end of the March 2026 quarter also contributed to higher costs but this was contained to the mining side of the operation, whereas ore processing expenditure declined by 16%. Diesel fuel for the mining fleet accounts for only ~5% of site operating costs and the processing facilities utilise renewable hydroelectricity.

Elevra currently remains on track to achieve its full year operating cost per tonne sold guidance of US$860-US$880 dmt.

Growth Projects

NAL Brownfield Expansion

The NAL Brownfield Expansion represents a key component of Elevra’s strategy to strengthen its position as a leading producer of spodumene concentrate in North America while leveraging existing infrastructure and operational experience at an established producing asset. In January 2026, the Company announced an accelerated expansion approach designed to advance production growth earlier than previously contemplated through a staged development pathway. The revised strategy reflects Management’s focus on capital efficiency, execution discipline, and responsiveness to evolving lithium market conditions.

The accelerated expansion approach is underpinned by a strong business case centred on maximising the value of NAL’s existing processing facilities, mining infrastructure, and workforce while reducing development risk. By sequencing capacity increases through multiple stages rather than a single large-scale expansion, Elevra aims to optimise capital deployment, shorten timelines to incremental production, and maintain operational flexibility as market demand continues to evolve. This staged approach also enables the Company to incorporate operational learnings from current production into future expansion phases, supporting improved recoveries, reliability, and long-term operating performance.

Work is ongoing to evaluate and refine the accelerated pathway, with further engineering and technical studies underway to assess sequencing, infrastructure requirements, and execution planning associated with the revised development strategy. In support of this approach, Elevra plans to update the Scoping Study in Q2 CY2026 and advance directly to detailed engineering to further de-risk execution and accelerate value creation at NAL.

Moblan

Fieldwork at the Moblan Project was completed and the information was incorporated into technical reports. Ongoing environmental work and associated permitting activities remain the core focus given permitting is the critical path for Moblan’s development.

Ewoyaa

The Ewoyaa Lithium Project reached a major development milestone in March 2026 with the ratification of the Mining Lease by the Parliament of Ghana, providing legislative approval for Project development and marking a significant step toward establishing Ghana’s first lithium-producing operation. The milestone reflects support from the Government of Ghana following continued engagement with national authorities and local communities and extensive technical, permitting, and stakeholder workstreams progressed over several years.

While Ewoyaa is now fully permitted, advancement toward construction remains subject to prevailing lithium market conditions, attainment of suitable project financing and realignment of the joint venture structure.

Carolina Lithium

During the March 2026 quarter, Elevra continued to progress the Carolina Lithium Project through engagement with local stakeholders. Management hosted a community town hall in Gaston County, providing an opportunity to share project updates, discuss ongoing permitting efforts, and engage directly with residents and community leaders. The event reflects the Company’s ongoing commitment to transparency and constructive dialogue as development planning advances. In parallel, Elevra finalised the acquisition or lease of all properties within the permit boundary outlined in the May 2024 Mine Permit.

Western Australia

Morella Lithium Joint Venture Project

Elevra has a 49% equity interest in the Morella Lithium Joint Venture, which holds lithium rights in the Pilbara and South Murchison regions. The joint venture is managed by Morella Corporation Limited (ASX: 1MC).

At Mt Edon in the South Murchison, a 20-hole reverse circulation (RC) drill program for ~1700m was completed, testing rubidium-lithium mineralisation at the Sophie pegmatite system. Eleven of the holes intersected pegmatite intervals greater than 30m in width with a maximum pegmatite intercept of 84m in MER046. Assay results are pending⁸.

The programme has advanced the geological understanding of the Sophie pegmatite, defining key pegmatite domains across the prospect and supporting progression toward a maiden Mineral Resource Estimate at the prospect.

Tabba Tabba

Elevra holds the lithium and pegmatite rights over the Tabba Tabba project (E45/2364), where exploration is targeting gabbro hosted, flat lying spodumene pegmatite systems. The lease is well located being directly south and along strike from known lithium mineralisation.

In the North drill area, planning progressed for drill testing of a key zone of favourable geology along the western flank of the Corridor Gabbro. Drilling is also planned at the Pascal pegmatite cluster, 3km along strike to the south, where additional untested pegmatite occurrences are present.

Heritage surveying is planned, followed by initial RC drill testing scheduled for late calendar year 2026.

Corporate

Memorandum of Understanding with Mangrove Lithium

Elevra entered into a non-binding MoU with Mangrove Lithium to evaluate a potential long-term commercial partnership supporting lithium refining in North America. Under the terms of the MoU, the parties intend to assess the future supply of spodumene concentrate from NAL to Mangrove Lithium’s planned conversion facilities. The framework establishes a pathway for offtake volumes to align with project ramp-ups and downstream processing timelines while allowing both companies to advance technical collaboration, logistics planning, and commercial negotiations toward a potential definitive agreement.

The collaboration reflects the growing strategic importance of establishing an integrated North American lithium supply chain capable of supporting domestic battery manufacturing and energy transition objectives. By linking upstream lithium production with regional refining capacity, the MoU represents a step toward reducing reliance on overseas conversion markets and strengthening supply security for battery-grade lithium chemicals within North America.

For Elevra, the potential partnership offers several strategic advantages, including the opportunity to place committed volumes into a nearby refining hub and the prospect of materially reducing transportation distances relative to traditional export routes. Shorter logistics chains have the potential to lower shipping costs and reduce carbon intensity across the value chain, while positioning Elevra to participate more directly in downstream value creation as the North American lithium industry continues to develop.

Addition to the ASX 300

Elevra’s ordinary shares (ASX: ELV) were included in the S&P/ASX 300 Index, as announced by S&P Dow Jones Indices on 6 March 2026. The inclusion reflects the Company’s continued growth in market capitalisation and represents an important milestone in Elevra Lithium’s evolution as a global lithium producer. The addition to the ASX 300 is expected to enhance the Company’s visibility within the institutional investment community and broaden its shareholder base.

Cash

Cash and cash equivalents increased by US$31.7 million to end the March 2026 quarter with a resulting balance of US$113.0 million (net cash US$58.7 million)⁹.

NAL generated profit from operations of US$32 million for the March 2026 quarter primarily due to higher realised prices, partially offset by higher unit operating costs and lower sales volumes compared to the previous quarter. Overall, NAL reported a net operating cash inflow of US$41 million as a result of profit generated from operations and favourable net working capital movements, driven by lower inventories and reclassification of US$2 million from other financial assets to cash relating to the release of cash backed guarantees for future rehabilitation costs.

Capital expenditure in the March 2026 quarter was US$4 million relating to various NAL sustaining capital projects.

The balance of the prepayment facility, which relates to advance payments based on the value of certain committed future sales of spodumene concentrate was US$54.3 million at the end of the March 2026 quarter (December 2025: US$54.9 million).

The Group reported a net operating cash outflow of US$5 million for the March 2026 quarter, comprised primarily of corporate expenditure.

Capital Structure

At 31 March 2026, the Company had the following capital structure:

169,376,771 ordinary fully paid shares;
2,723,613 unquoted options expiring on 31 December 2028;
2,708,166 unquoted performance rights (expiring various dates).

Announcement authorised for release by the Board of Directors of Elevra Lithium Limited.

Information

The following information applies to this report:

All references to dollars and cents are United States currency, unless otherwise stated.
Numbers presented may not add up precisely to the totals provided due to rounding.

The following abbreviations may have been used throughout this report: cost, insurance and freight (CIF); dry metric tonne (dmt); earnings before interest and tax (EBIT); earnings before interest, tax, depreciation and amortisation (EBITDA); free on board (FOB); life of mine (LOM); lithium carbonate (Li₂CO₃); lithium hydroxide (LiOH); lithium oxide (Li₂O); net present value (NPV); run of mine (ROM); thousand tonnes (kt); tonnes (t); and wet metric tonne (wmt).

Forward-Looking Statements

This report may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond Elevra Lithium Limited’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement. The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled.

Elevra Lithium Limited undertakes no obligation to update any forward-looking statement or other statement to reflect events or circumstances after the date of this report (subject to securities exchange disclosure requirements).

The information in this report does not take into account the objectives, financial situation or particular needs of any person. Nothing contained in this report constitutes investment, legal, tax or other advice.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and all material assumptions and technical parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

About Elevra Lithium

Elevra Lithium Limited (ASX: ELV; NASDAQ: ELVR) is North America’s largest hard-rock lithium producer with a diversified portfolio of high-quality assets across Québec Canada, the United States, Ghana and Western Australia.

Our flagship operation, the North American Lithium (NAL) mine in Québec, Canada has successfully ramped up production of spodumene concentrate, supported by ongoing operational enhancements to increase recovery rates, throughput, and mill utilisation. Following a Mineral Resource upgrade, Elevra completed a Scoping Study for a brownfield expansion to increase NAL’s annual spodumene concentrate production and reduce unit operating costs.

Complementing NAL, the Moblan Lithium Project in northern Québec represents one of the largest undeveloped spodumene resources in North America, with a Mineral Resource of 121 Mt @ 1.19% Li₂O. Development activities are progressing with feasibility studies targeting a large-scale, long-life operation capable of supplying both domestic and international markets.

In Western Australia, Elevra holds an extensive portfolio of lithium and gold tenements, where exploration programs are advancing to unlock additional growth opportunities. Meanwhile, in the United States, our Carolina Lithium Project offers a strategic foothold in the downstream lithium chemicals market and our project in Ghana provides a further option for future growth.

Looking ahead, Elevra is focused on strategic downstream partnerships to enable further value-added lithium production, positioning the Company to deliver a secure, sustainable supply of critical minerals to global customers. Together, these assets establish Elevra as a growth-focused supplier supporting the global energy transition.

For more information, please visit us at www.elevra.com.

Appendix
	Unit	Q3 FY25		Q4 FY25		Q1 FY26		Q2 FY26		Q3 FY26
Physicals ¹⁰
Ore mined	wmt	322,407		361,883		338,341		389,801		370,508
Ore crushed	wmt	292,962		379,353		349,698		361,485		350,202
Ore processed	dmt	287,782		357,290		341,780		351,592		346,324
Concentrate produced	dmt	43,261		58,533		52,003		44,154		47,332
Concentrate sold	dmt	27,030		66,980		25,975		66,016		55,526

Unit Metrics
Average realised selling price (FOB)¹¹	US$/dmt	710		682		784		998		1,453
Unit operating cost per tonne sold (FOB)¹²	US$/dmt	830		791		818		812		884

Production Variables
Mill utilisation	%	80	%	93	%	87	%	89	%	94	%
Recovery	%	69	%	73	%	69	%	62	%	66	%
Concentrate grade produced	%	5.2	%	5.2	%	5.2	%	4.9	%	5.0	%

¹ See ASX release dated 12 January 2026 “Accelerated NAL Expansion”.

² See Atlantic Lithium ASX release dated 20 March 2026 entitled “Parliamentary Ratification of Ewoyaa Mining Lease”.

³ See ASX release dated 10 February 2026 entitled “Elevra Signs Non-Binding Memorandum of Understanding for Spodumene Concentrate offtake with Mangrove Lithium”.

⁴ See ASX release dated 28 January 2026 entitled “December 2025 Quarterly Activities Report”.

⁵ Numbers presented may not add up precisely to the totals provided due to rounding.

⁶ Average realised selling price is calculated on an accruals basis and reported in US$/dmt sold, FOB Port of Québec.

⁷ Unit operating cost per tonne sold is calculated on an accruals basis and includes mining, processing, transport, port charges, site-based general and administration costs and cash based inventory movements, and excludes depreciation and amortisation charges, freight and royalties. It is reported in US$/dmt sold, FOB Port of Québec.

⁸ See ASX release by Morella Corporation on 31 March 2026, “Drilling Completed at Mt Edon – Broad Pegmatite Intercepts Support Resource Potential”

⁹ Net cash is equal to the balance of cash and cash equivalents less the balance of the prepayment facility.

¹⁰ Numbers presented may not add up precisely to the totals provided due to rounding.

¹¹ Average realised selling price is calculated on an accruals basis and reported in US$/dmt sold, FOB Port of Québec.

¹² Unit operating cost sold is calculated on an accruals basis and includes mining, processing, transport, port charges, site-based general and administration costs and cash based inventory movements, and excludes depreciation and amortisation charges, freight and royalties. It is reported in US$/dmt sold, FOB Port of Québec.

For more information, please contact:

Andrew Barber

Chief Development and Investor Relations Officer

Email: [email protected]

Phone: +61 7 3369 7058

April 22, 2026 7:13 pm

Community Health Systems, Inc. Announces Commencement of Tender Offer for Certain Outstanding Senior Secured Notes

Community Health Systems, Inc. Announces Commencement of Tender Offer for Certain Outstanding Senior Secured Notes

FRANKLIN, Tenn.–(BUSINESS WIRE)–
Community Health Systems, Inc. (the “Company”) (NYSE: CYH) today announced that its wholly-owned subsidiary, CHS/Community Health Systems, Inc. (the “Issuer”) has commenced a tender offer (the “Tender Offer”) to purchase for cash up to $600,000,000 aggregate purchase price (exclusive of accrued and unpaid interest) (as such aggregate purchase price may be increased or decreased by the Issuer, the “Aggregate Maximum Purchase Amount”) of its outstanding Notes of the two series listed in the table below (collectively, the “Notes”); provided that the Issuer will only accept for purchase (i) its 4.750% Senior Secured Notes due 2031 having an aggregate purchase price of up to $350,000,000 (exclusive of accrued and unpaid interest) (as such aggregate purchase price for such 2031 Notes may be increased or decreased by the Issuer, the “2031 Tender Cap”) and (ii) its 10.875% Senior Secured Notes due 2032 having an aggregate purchase price of up to $250,000,000 (exclusive of accrued and unpaid interest) (as such aggregate purchase price for such 2032 Notes may be increased or decreased by the Issuer, the “2032 Tender Cap”). The Tender Offer will be financed by cash on hand. The Tender Offer is being made pursuant to an Offer to Purchase dated April 22, 2026.

The table below summarizes certain payment terms for the Tender Offer:

Title of Note	CUSIP / ISIN (144A)	CUSIP / ISIN (Reg S)	Principal Amount Outstanding	Tender Cap	Acceptance Priority Level (4)	Tender Offer Consideration (1)(2)	Early Tender Payment (1)	Total Consideration (1)(2)(3)
4.750% Senior Secured Notes due 2031	12543D BK5 / US12543DBK54	U17127 AU2 / USU17127AU25	$1,057,710,000	$350,000,000	1	$900.00	$50.00	$950.00
10.875% Senior Secured Notes due 2032	12543D BN9 / US12543DBN93	U17127 AX6 / USU17127AX63	$1,780,000,000	$250,000,000	2	$1,032.50	$50.00	$1,082.50

___________________
(1)	Per $1,000 principal amount of Notes accepted for purchase.
(2)	Excludes accrued and unpaid interest, which will be paid in addition to the Tender Offer Consideration or the Total Consideration, as applicable.
(3)	Includes the applicable Early Tender Payment.
(4)	The Acceptance Priority Level will be applied separately at the Early Tender Date and at the Expiration Date.

The Tender Offer will expire at 5:00 p.m. New York City time, on May 20, 2026 unless extended or earlier terminated (such date and time, including as extended or earlier terminated, the “Expiration Date”). Registered holders (each, a “Holder” and collectively, the “Holders”) of the Notes must validly tender their Notes at or before 5:00 p.m., New York City time, on May 5, 2026 (such date and time, including as extended or earlier terminated, the “Early Tender Date”) in order to be eligible to receive the Early Tender Payment in addition to the Tender Offer Consideration (as defined below).

Tenders of the Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on May 5, 2026, unless extended or earlier terminated (the “Withdrawal Deadline”), and not thereafter, except in certain limited circumstances where withdrawal rights are required by applicable law.

The Notes will be purchased in accordance with the “Acceptance Priority Level” (in numerical priority order) as set forth in the table above (the “Acceptance Priority Level”), with Acceptance Priority Level 1 being the higher and Acceptance Priority Level 2 being the lower, with possible proration of the Notes on the Early Settlement Date (as defined below) or the Final Settlement Date (as defined below) determined in accordance with the terms of the Tender Offer; provided that notwithstanding the Acceptance Priority Level for the Notes, the amount of either series of Notes that will be accepted in the Tender Offer is limited by the 2031 Tender Cap and the 2032 Tender Cap; and provided further that Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date will be accepted for purchase in priority to Notes tendered after the Early Tender Date, even if such Notes tendered after the Early Tender Date have a higher Acceptance Priority Level than Notes tendered at or prior to the Early Tender Date.

Accordingly, if the aggregate total purchase price payable for the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date and accepted for purchase equals or exceeds the Aggregate Maximum Purchase Amount, then Holders who validly tender Notes after the Early Tender Date will not have any such Notes accepted for payment regardless of the Acceptance Priority Level of such Notes (unless the terms of the Tender Offer are amended by the Issuer in its sole and absolute discretion). If, on the Early Settlement Date or Final Settlement Date, as applicable, only a portion of the tendered Notes of a series of Notes may be accepted for purchase, the aggregate principal amount of such series of Notes accepted for purchase will be prorated based upon the aggregate principal amount of that series of Notes that have been validly tendered and not yet accepted for purchase in the Tender Offer, such that the Aggregate Maximum Purchase Amount, the 2031 Tender Cap (with respect to the 4.750% Senior Secured Notes due 2031) and the 2032 Tender Cap (with respect to the 10.875% Senior Secured Notes due 2032) will not be exceeded.

The Total Consideration includes, in each case, an early tender payment (the “Early Tender Payment”) of $50.00 for each $1,000 principal amount of the Notes, which Early Tender Payment is in addition to, in each case, the applicable Tender Offer Consideration (as defined below).

Subject to purchase in accordance with the Acceptance Priority Levels, the Aggregate Maximum Purchase Amount, the 2031 Tender Cap, the 2032 Tender Cap and possible proration, Holders validly tendering Notes (that have not been validly withdrawn) at or prior to the Early Tender Date will be eligible to receive the applicable Total Consideration listed in the table above, which includes the Early Tender Payment, on the “Early Settlement Date”, which is expected to be May 7, 2026, but that may change without notice. Holders validly tendering Notes after the Early Tender Date but at or prior to the Expiration Date will only be eligible to receive the applicable “Tender Offer Consideration” listed in the table on the “Final Settlement Date”. The Final Settlement Date is expected to be the second business day after the Expiration Date, which means that the Final Settlement Date is expected to be May 22, 2026, but that may change without notice. In addition to the Total Consideration or Tender Offer Consideration, Holders whose Notes are accepted for purchase will also receive accrued and unpaid interest from the last interest payment date to, but not including, the applicable settlement date.

The obligation of the Issuer to accept for purchase, and to pay for, Notes validly tendered pursuant to the Tender Offer is subject to, and conditioned upon, the satisfaction or waiver of certain conditions as set forth in the Offer to Purchase, in the sole and absolute discretion of the Issuer.

None of the Issuer, the trustee for the Notes, the agents under the respective indentures for the Notes, the dealer manager, the information and tender agent, any of their respective subsidiaries or affiliates or any of its or their respective directors, officers, employees or representatives makes any recommendation to Holders as to whether or not to tender all or any portion of their Notes, and none of the foregoing has authorized any person to make any such recommendation. Holders must decide whether to tender Notes, and if tendering, the amount of Notes to tender.

All of the Notes are held in book-entry form. If you hold Notes through a broker, dealer, commercial bank, trust company or other nominee, you must contact such broker, dealer, commercial bank, trust company or other nominee if you wish to tender Notes pursuant to the Tender Offer. You should check with such broker, dealer, commercial bank, trust company or other nominee to determine whether they will charge you a fee for tendering Notes on your behalf. You should also confirm with the broker, dealer, bank, trust company or other nominee any deadlines by which you must provide your tender instructions, because the relevant deadline set by such nominee may be earlier than the deadlines set forth herein. The Issuer has retained UBS Investment Bank to serve as dealer manager for the Tender Offer. The Issuer has retained Global Bondholder Services Corporation to act as the information and tender agent in respect of the Tender Offer.

For additional information regarding the terms of the Tender Offer, please contact UBS Investment Bank at (212) 882-5723 (Collect), (833) 690-0971 (Toll-Free) or by email at [email protected]. Copies of the Offer to Purchase may be obtained by contacting Global Bondholder Services Corporation at (855) 654 2014 or by email at [email protected].

This notice does not constitute or form part of any offer or invitation to purchase or sell, or any solicitation of any offer to sell or purchase, the Notes or any other securities in the United States or any other jurisdiction, and neither this notice nor any part of it, nor the fact of its release, shall form the basis of, or be relied on or in connection with, any contract therefor. The Tender Offer is made only by and pursuant to the terms and conditions of the Offer to Purchase and the information in this notice is qualified by reference to the Offer to Purchase.

This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.

Forward-Looking Statements

This press release may include information that could constitute forward-looking statements. These statements involve risk and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422690147/en/

Investor Contacts:

Kevin J. Hammons

Chief Executive Officer

(615) 465-7000

or

Anton Hie

Vice President – Investor Relations

(615) 465-7012

Media Contact:

Tomi Galin, 615-628-6607

Executive Vice President, Corporate Communications, Marketing and Public Affairs

KEYWORDS: Tennessee United States North America

INDUSTRY KEYWORDS: Hospitals Health Nursing Other Health

MEDIA:

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April 22, 2026 6:57 pm

New PROG Holdings Research Offers Insight into Near- and Below-Prime Consumer Behavior

New PROG Holdings Research Offers Insight into Near- and Below-Prime Consumer Behavior

Survey data explores the state of financial wellness among working Americans and frames flexible payments as essential financial tools

SALT LAKE CITY–(BUSINESS WIRE)–
In recognition of Financial Literacy Month, PROG Holdings, Inc. (NYSE: PRG), a fintech holding company providing transparent and competitive payment solutions and inclusive consumer financial products, today released new research exploring the financial realities facing America’s near- and below-prime consumers. The research provides insights into how working Americans with limited financial flexibility are managing rising costs, economic uncertainty, and everyday financial decisions.

The research shows that most near- and below-prime consumers are employed and actively engaged in managing their finances yet continue to face pressure from broader macroeconomic conditions such as inflation, interest rates, housing affordability, and health care costs. It also suggests that consumers consider a range of tools and strategies as they seek to balance budgets, manage expenses, and make informed purchasing decisions.

Key findings include:

61% report working full‑time
More than 80% say they are concerned about their personal financial outlook
25% skipped large purchases to focus on essentials

Inflation, interest rates, affordable housing, and access to healthcare rank among the top economic concerns for this group. Against this backdrop, the research highlights the growing role that having a variety of flexible payment solutions, including buy‑now, pay‑later and lease‑to‑own solutions, play in helping consumers manage expenses.

“The data shows that many people in our communities are navigating real financial tradeoffs as costs remain high,” said Steve Michaels, President and Chief Executive Officer of PROG Holdings. “Near-and below-prime consumers are making thoughtful decisions as they manage their purchasing behavior amidst ongoing macroeconomic shifts, and flexible payment solutions are proving to have a positive impact on this group’s ability to continue providing their households with products and services they need. The research also highlights the importance of transparency, flexibility, and choices as consumers evaluate payment options available to them.”

The PROG Holdings survey also sheds light on how payment flexibility influences purchasing behavior and financial confidence:

88% say flexible payment solutions are important when making purchases of $500 or more
86% are more likely to complete a purchase when flexible payment solutions are offered
80% are willing to spend more when flexible payment solutions are available
65% report that flexible payment solutions make them feel positive, reassured or relieved

“This research underscores the importance of improving consumer understanding and access to transparent payment solutions, particularly during Financial Literacy Month, when conversations around money management and overall well-being are top of mind,” said Michaels. “Amid high costs, flexible payment solutions continue to be an important tool as households navigate ongoing economic pressures.”

To view the research summary report and how this impacts today’s retailers, click here.

About the PROG Holdings Research

PROG commissioned a blind online survey of 770 U.S. consumers ages 18 and older with credit scores under 670, classified as near- and below-prime consumers, in late 2025. The survey margin of error is ±3.5%.

About PROG Holdings, Inc.

PROG Holdings, Inc. (NYSE: PRG) is a fintech holding company headquartered in Salt Lake City, Utah, providing transparent and competitive payment options and inclusive consumer financial products. The Company owns Progressive Leasing, Four Technologies, MoneyApp and Purchasing Power. More information is available at https://www.progholdings.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422221978/en/

Media Contacts

[email protected]

KEYWORDS: Utah United States North America

INDUSTRY KEYWORDS: Other Retail Technology Professional Services Other Consumer Payments Electronic Commerce Retail Software Fintech Consumer Finance

MEDIA:

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April 22, 2026 6:53 pm

American Water and Essential Utilities Receive Kentucky Public Service Commission Approval for Proposed Merger

American Water and Essential Utilities Receive Kentucky Public Service Commission Approval for Proposed Merger

CAMDEN, N.J. & BRYN MAWR, Pa.–(BUSINESS WIRE)–
American Water Works Company, Inc. (NYSE: AWK) (“American Water”) and Essential Utilities, Inc. (NYSE: WTRG) (“Essential Utilities”) today announced that the Kentucky Public Service Commission (PSC) has approved the companies’ proposed merger, marking the first regulatory approval obtained in the path toward completing the combination of the two companies.

The Kentucky PSC’s approval follows the overwhelming approval of the transaction by shareholders of both companies at their respective special shareholder meetings held in February 2026. The all-stock transaction, announced October 27, 2025, will create a combined company serving more than 4.7 million water and wastewater customer connections and more than 740,000 gas customer connections. The combined company will operate under the American Water name and be headquartered in Camden, New Jersey.

The merger is expected to close by the end of the first quarter of 2027, but remains subject to customary closing conditions, including, among others, clearance under the Hart-Scott-Rodino Act, and required regulatory approvals, including approval from applicable public utility commissions.

For additional details regarding the transaction, please visit americanwateressentialutilitiesmerger.com.

About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s approximately 7,000 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About Essential Utilities

Essential Utilities, Inc. (NYSE: WTRG) delivers safe, clean, reliable services that improve quality of life for individuals, families, and entire communities. With a focus on water, wastewater and natural gas, Essential is committed to sustainable growth, operational excellence, a superior customer experience, and premier employer status. We are advocates for the communities we serve and are dedicated stewards of natural lands, protecting thousands of acres of forests and other habitats throughout our footprint. Operating as the Aqua and Peoples brands, Essential serves approximately 5.5 million people across nine states. Essential is one of the most significant publicly traded water, wastewater service and natural gas providers in the U.S. Learn more at www.essential.co.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this communication are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words with prospective meanings such as “intend,” “plan,” “estimate,” “believe,” “anticipate,” “expect,” “predict,” “project,” “propose,” “assume,” “forecast,” “outlook,” “future,” “likely,” “pending,” “goal,” “objective,” “potential,” “continue,” “seek to,” “may,” “can,” “will,” “should” and “could,” or the negative of such terms or other variations or similar expressions. Forward-looking statements may relate to, among other things: statements about the benefits of the proposed merger, including future financial and operating results; the parties’ respective plans, objectives, expectations and intentions; the expected timing and likelihood of completion of the merger and related transactions; the results of any strategic review; expected synergies of the proposed merger; the timing and result of various regulatory proceedings related to the proposed merger, and other general rate cases, filings for infrastructure surcharges and other governmental agency authorizations and proceedings, and filings to address regulatory lag; the combined company’s ability to execute its current and long-term business, operational, capital expenditures and growth plans and strategies; the amount, allocation and timing of projected capital expenditures and related funding requirements; the future impacts of increased or increasing transaction and financing costs associated with the proposed merger or otherwise, as well as inflation and interest rates; each party’s ability to finance current and projected operations, capital expenditure needs and growth initiatives by accessing the debt and equity capital markets and sources of short-term liquidity; impacts of the proposed merger on the future settlement or settlements of a party’s forward sale agreements, including potential adjustments to the forward sale price or other economic terms thereunder, and the amount of and the intended use of net proceeds from any such future settlement or settlements; the outcome and impact on other governmental and regulatory investigations; the filing of class action lawsuits and other litigation and legal proceedings related to the proposed merger; the ability to complete, and the timing and efficacy of, the design, development, implementation and improvement of technology and other strategic initiatives; each party’s ability to comply with new and changing environmental regulations; regulatory, legislative, tax policy or legal developments; and impacts that future significant tax legislation may have on each such party and on its business, results of operations, cash flows and liquidity.

These forward-looking statements are predictions based on currently available information, the parties’ current respective expectations and assumptions regarding future events that American Water Works Company, Inc. (“American Water”) and Essential Utilities, Inc. (“Essential Utilities”) believe to be reasonable. They are not, however, guarantees or assurances of any outcomes, performance or achievements, and readers are cautioned not to place undue reliance upon them. You should not regard any forward-looking statement as a representation or warranty by American Water, Essential Utilities or any other person that the expectation, plan or objective expressed in such forward-looking statement will be successfully achieved in any specified time frame, or at all. The forward-looking statements are subject to a number of estimates and assumptions, and known and unknown risks, uncertainties and other factors. Actual results may differ materially from those discussed in the forward-looking statements included in this communication as a result of the factors discussed in American Water’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission (the “SEC”) on February 18, 2026 (available at: ir.amwater.com), Essential Utilities’ Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 26, 2026 (available at: essential.co), and each party’s other filings with the SEC, and additional risks and uncertainties, including with respect to (1) the parties’ ability to consummate the proposed merger pursuant to the terms of the definitive merger agreement or at all; (2) each party’s requirement to obtain required governmental and regulatory approvals required for the proposed merger (and/or that such approvals may result in the imposition of burdensome or commercially undesirable conditions, including required dispositions, that could adversely affect the combined company or the expected benefits of the proposed merger); (3) an event, change or other circumstance that could give rise to the termination of the merger agreement; (4) the failure to satisfy or waive a condition to closing of the proposed merger on a timely basis or at all; (5) a delay in the timing to consummate the proposed merger; (6) the failure to integrate the parties’ businesses successfully; (7) the failure to fully realize benefits, efficiencies and cost savings from the proposed merger or that such benefits, efficiencies and cost savings may take longer to realize or be more costly to achieve than expected; (8) negative or adverse impacts of the announcement of the proposed merger on the market price of American Water’s or Essential Utilities’ common stock; (9) the risk of litigation, legal proceedings or other challenges related to the proposed merger; (10) disruption from the proposed merger making it more difficult to maintain relationships with customers, employees, contractors, suppliers, regulators, vendors, elected officials, governmental agencies, or other stakeholders; (11) the diversion of each party’s management’s time and attention from ongoing business operations and opportunities of such party on merger-related matters; (12) the challenging macroeconomic environment, including disruptions in the water and wastewater utility industries; (13) the ability of each party to manage its respective existing operations and financing arrangements on favorable terms or at all, including with respect to future capital expenditures and investments, operations, and maintenance costs; (14) changes in environmental laws and regulations regarding each party’s respective operations that may adversely impact such party’s businesses or increase the cost of operations; (15) changes in each party’s key management and personnel; (16) changes in tax laws that could adversely affect beneficial tax treatment of the proposed merger; (17) regulatory, legislative, local or municipal actions affecting the water and wastewater industries, which could adversely affect the parties’ respective utility subsidiaries; and (18) other economic, business and other factors, including inflation, interest rate fluctuations or tariffs. The foregoing factors should not be construed as exhaustive.

These forward-looking statements are qualified by, and should be read together with, the risks and uncertainties set forth above and the risk factors included in American Water’s and Essential Utilities’ respective annual and quarterly reports as filed with the SEC and in the definitive joint proxy statement/prospectus, as filed with the SEC on December 31, 2025 (available at: https://www.sec.gov/Archives/edgar/data/1410636/000119312525337598/d15683d424b3.htm), and readers should refer to such risks, uncertainties and risk factors in evaluating such forward-looking statements. Any forward-looking statements speak only as of the date this communication is first used or given. Neither American Water nor Essential Utilities has any obligation or intention to update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as otherwise required by the federal securities laws. New factors emerge from time to time, and it is not possible for American Water or Essential Utilities to predict all such factors. Furthermore, it may not be possible to assess the impact of any such factor on American Water’s or Essential Utilities’ businesses, viewed independently or together, or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.

Proposed Merger

For additional information regarding the proposed merger, please see American Water’s registration statement on Form S-4 (Registration No. 333-292182), which was declared effective by the SEC on December 30, 2025, and the other documents that American Water or Essential Utilities has filed or may file with the SEC.

No Offer or Solicitation

This communication is for informational purposes and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

AWK-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422317975/en/

American Water Investor Contact

Aaron Musgrave

Vice President, Investor Relations

(856) 955-4029

[email protected]

American Water Media Contact

Maureen Duffy

Executive Vice President, Communications and External Affairs

(856) 955-4163

[email protected]

Essential Investor Contact

Brian Dingerdissen

Vice President, Treasurer, FP&A and IR

(610) 645-1191

[email protected]

Essential Media Contact

David Kralle

Vice President of Public Affairs

(877) 325-3477

[email protected]

KEYWORDS: Pennsylvania Kentucky New Jersey United States North America

INDUSTRY KEYWORDS: Other Natural Resources Other Energy Utilities Oil/Gas Energy Natural Resources

MEDIA:

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April 22, 2026 6:43 pm

WEX to Host Virtual Fireside Chat on April 27, 2026

WEX to Host Virtual Fireside Chat on April 27, 2026

Chair, CEO, and President Melissa Smith and Lead Independent Director designee David Foss to discuss WEX’s strategic progress and clear path to value creation

Urges shareholders to vote “FOR” ONLY WEX’s nine nominees using the BLUE proxy card

PORTLAND, Maine–(BUSINESS WIRE)–
WEX (NYSE: WEX) (“WEX” or the “Company”), a global leader in intelligent payment solutions, today announced it will host a virtual fireside chat on Monday, April 27, 2026 at 3:00 p.m. ET.

Melissa Smith, WEX’s Chair, Chief Executive Officer, and President, and David Foss, Lead Independent Director designee, will discuss WEX’s strategic progress, accelerating momentum, and clear path to value creation, as well as why WEX’s Board is best positioned to deliver long-term value for shareholders.

The virtual fireside chat will be webcast live online and may be accessed through the investor relations section of WEX’s website or at https://events.q4inc.com/attendee/157827594. The live fireside chat may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The conference ID number is 3071305. The live webcast will be accompanied by slides, which will be made available through the investor relations section of the WEX website.

For those unable to listen to the live fireside chat, a replay will also be available on the Company’s website through Monday, May 4, 2026.

To learn more about WEX’s strategy, Board, and path to value creation, please visit www.VotewithWEX.com.

INNISFREE M&A INCORPORATED

501 Madison Avenue, 20th Floor

New York, New York 10022

Shareholders, please call toll free: +1 (877) 750-0637 (from the U.S. and Canada) or

+1 (412) 232-3651 (from all other countries)

Banks and Brokerage firms may call: +1 (212) 750-5833 (collect)

About WEX

WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility, and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.

Forward-Looking Statements and Risk Factors

This press release contains forward-looking statements including, but not limited to, statements regarding plans, goals, expectations and objectives. Any statements in this communication that are not statements of historical facts are forward-looking statements. When used in this communication, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “positions,” “confidence,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including, but not limited to, the risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 13, 2026 and subsequent filings with the SEC. The forward-looking statements speak only as of the date of this communication and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.

Important Additional Information and Where to Find It

The Company has filed a definitive proxy statement on Schedule 14A, an accompanying BLUE proxy card, and other relevant documents with the SEC in connection with the solicitation of proxies from the Company’s stockholders for the Company’s 2026 annual meeting of stockholders. THE COMPANY’S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE ACCOMPANYING BLUE PROXY CARD, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a free copy of the definitive proxy statement, an accompanying BLUE proxy card, any amendments or supplements to the definitive proxy statement, and other documents that the Company files with the SEC at no charge from the SEC’s website at www.sec.gov. Copies will also be available at no charge by clicking the “SEC filings” link in the “Financials” section of the Company’s website at https://ir.wexinc.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422396995/en/

News Media Contact:

Edelman Smithfield

[email protected]

Investor Contact:

WEX

Steve Elder, 207-523-7769

[email protected]

KEYWORDS: Maine United States North America

INDUSTRY KEYWORDS: Professional Services Payments Business Technology Human Resources Software Electronic Commerce

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April 22, 2026 6:38 pm

WEX Issues Letter to Shareholders Highlighting Strong Performance, Accelerating Momentum and Improved 2026 Outlook

WEX Issues Letter to Shareholders Highlighting Strong Performance, Accelerating Momentum and Improved 2026 Outlook

Urges Shareholders to Vote Today on the Blue Proxy Card “FOR” ONLY WEX’s Nominees

PORTLAND, Maine–(BUSINESS WIRE)–
WEX (NYSE: WEX) (“WEX” or the “Company”), a global leader in intelligent payment solutions, today publicized a letter to shareholders highlighting the Company’s strong performance, accelerating momentum and improved financial outlook for 2026.

The full text of the letter follows:

Dear Fellow Shareholders:

This year’s Annual Meeting of Stockholders (the “Annual Meeting”) of WEX Inc. (“WEX,” “we,” or the “Company”) is fast approaching. The meeting is scheduled to be held on May 5, 2026.

Since our last annual meeting, we have reached an inflection point. We have returned to growth, outperformed our peers¹ on a total shareholder return basis² and made important strides toward the margin expansion we expect as our disciplined investments in the business take hold.

Despite this progress and a nearly 50% increase in our stock price over the last year, Impactive Capital Master Fund LP (“Impactive”) is seeking to replace a third of our directors, including our Chair and CEO and the Chairs of two of our key committees. We believe electing Impactive’s candidates in place of any of these individuals would risk disrupting the Company’s momentum and result in the loss of valuable expertise on the Board of Directors (the “Board”).

We Are Delivering Strong Results and Our Momentum is Accelerating

As our financial results demonstrate, we have been executing well, and our performance continues to improve. In 2025, we generated record revenue, net income per share and adjusted net income per share.³ Our 2025 adjusted EBITDA even surpassed the upside projections Impactive published in 2022.⁴

As we announced today, our momentum continued into the first quarter. We delivered year-over-year increases in revenue and adjusted net income per share, both of which exceeded the high end of our guidance range, supported by continued revenue growth across each of our segments. We increased our outlook for 2026 and have renewed confidence in our ability to continue to build on our progress.

Our recent results reflect strong performance across our business segments. Over the last six years, in our Mobility and Benefits segments, we have grown transaction volumes and accounts faster than our closest competitors, and we have also delivered strong volume growth in our Corporate Payments segment. Furthermore, our return on invested capital – calculated properly by adjusting for borrowings at WEX Bank – has increased over the last several years, exceeds our cost of capital and is comparable to that of Corpay, a company Impactive prefers to compare us with (even though it is far from our only peer).⁴

Our Improving Fundamentals Have Driven TSR Outperformance

Our fundamental performance improvement has translated into improved shareholder returns. Year-to-date, since our third quarter 2025 earnings release and over the last year, our total shareholder returns have outperformed⁵ those of the peer group we use to benchmark performance, our 2025 Performance Peer Group.⁶ We worked closely with an independent consulting firm to develop this group, focusing on companies that are subject to similar macroeconomic forces and whose returns have historically been correlated with WEX’s.

Over the same periods, we have also outperformed our previous performance peer group⁷, which was left largely unchanged from its introduction in 2021 to 2025, when it was replaced by our current performance peer group. In addition, we have outperformed when measured against our 2025 Compensation Benchmarking Peer Group,⁸ which Impactive insists on using to compare our performance. (That group, it should be noted, consists of companies that compete with us for talent but are not necessarily in the same end markets or exposed to the same macroeconomic forces, and thus not what we use to measure performance.)

Over the past five years, our shareholder returns are broadly in line with – or even better than – those of both our current and previous performance peer groups.⁹

We Are Executing a Strategy to Deliver Sustainable, Profitable Growth

That said, we are not satisfied with our current stock price, and we are taking decisive actions to strengthen the business and position WEX for long-term growth.

In Mobility, we have launched new solutions and increased investment in sales and marketing to expand our market opportunity and drive demand. We have had notable success with smaller fleets, which is a large and fragmented segment of the market.

In Corporate Payments, we have managed the business model transition of a large customer while extending into new solutions and verticals to offset the temporary impact on revenue. And across the Company, we are leveraging AI to accelerate innovation, improve efficiency and enhance our customer value proposition. The early results of these efforts have been promising, and we believe AI can transform how we serve our customers and serve as a competitive differentiator.

As a result of these actions, we believe WEX is more focused, more resilient and better positioned for growth than ever before.

Consistent with our commitment to optimize the business and maximize returns for shareholders, the Board has, for many years (long pre-dating Impactive’s investment), conducted an annual review session each summer focused on evaluating the Company’s business configuration and strategy.

After Impactive presented its break-up proposal to the Board in February 2025, the Board determined to accelerate and enhance its annual review of WEX’s portfolio and opportunities to enhance shareholder value. We worked with Bank of America and J.P. Morgan to help us evaluate both Impactive’s proposal and a range of other strategic ideas. Both financial advisors presented to the full Board in May 2025, and one delivered subsequent presentations to the Finance Committee in July and August and the full Board again in September. This process included extensive analyses and many hours of boardroom discussion, informed by hundreds of pages of materials.

Ultimately, following this comprehensive review, the Board unanimously concluded that WEX’s businesses are stronger together. A break-up of the kind Impactive has proposed would, in our view, result in a company with a lower growth rate, increased customer concentration, less scale, greater earnings volatility and reduced access to the low-cost capital provided by WEX Bank.

We have shared these conclusions with Impactive. Unfortunately, despite our efforts to find common ground, Impactive has escalated its campaign, even as Impactive has been aggressively selling shares.

We Have Engaged Constructively with Impactive

To be clear, we value Impactive’s investment and welcome its perspectives, and we remain open to a constructive resolution that serves the best interests of all shareholders.

However, we cannot, in good conscience, endorse Ms. Taylor Wolfe’s candidacy. We conducted extensive diligence as part of our comprehensive director evaluation process, speaking with former board colleagues and other individuals who proactively shared their perspectives with us. Based on this review, we identified serious concerns regarding Ms. Taylor Wolfe, including her conduct on a prior board, conflicts of interest arising from her spouse’s investment firm’s stake in our competitor Ramp, as well as Impactive’s inattention to regulatory oversight and misaligned investment time horizon. Taken together, these issues are, in our view, highly problematic.

Ms. Taylor Wolfe’s continued dismissal of our concerns regarding the potential conflict of interest involving Ramp—which considers WEX a direct competitor and is actively targeting our customers—only heightens our doubts about her ability to serve as an effective fiduciary. You do not need to believe Ms. Taylor Wolfe or us on whether Ramp is competitive with WEX: just search for “WEX Fuel Card” on Google and note the ads that Ramp is buying to target our prospective customers. Ms. Taylor Wolfe also downplays the investment and consultation her spouse and his firm have provided to Ramp, which we believe is one of the firm’s largest positions and worth well over $300 million. We do not believe shareholders are well served by having Ms. Taylor Wolfe on our Board while her spouse stands to benefit from Ramp’s competitive success relative to WEX.

We Ask for Your Support

We encourage you to review the investor presentation we published recently, available at www.VotewithWEX.com and on our Investor Relations webpage, which provides further details on our improving results, strong execution and clear path to value creation. Once you do, we believe you will conclude, as we did, that supporting our refreshed Board (which includes a new, incoming Vice Chair and Lead Independent Director) is the best way to ensure that WEX’s progress continues and that the Company delivers long-term value.

We hope you will join us in voting on the Company’s BLUE proxy card “FOR” ONLY WEX’s nominees.

Thank you for your continued support and investment.

Sincerely,

The WEX Board of Directors

If you have any questions or require any assistance with voting your shares, please call the Company’s proxy solicitor:

About WEX

WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility, and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.

Forward-Looking Statements and Risk Factors

This press release contains forward-looking statements including, but not limited to, statements regarding plans, goals, expectations and objectives. Any statements in this communication that are not statements of historical facts are forward-looking statements. When used in this communication, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “positions,” “confidence,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including, but not limited to, the risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 13, 2026 and subsequent filings with the SEC. The forward-looking statements speak only as of the date of this communication and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.

Important Additional Information and Where to Find It

The Company has filed a definitive proxy statement on Schedule 14A, an accompanying BLUE proxy card, and other relevant documents with the SEC in connection with the solicitation of proxies from the Company’s stockholders for the Company’s 2026 annual meeting of stockholders. THE COMPANY’S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE ACCOMPANYING BLUE PROXY CARD, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a free copy of the definitive proxy statement, an accompanying BLUE proxy card, any amendments or supplements to the definitive proxy statement, and other documents that the Company files with the SEC at no charge from the SEC’s website at www.sec.gov. Copies will also be available at no charge by clicking the “SEC filings” link in the “Financials” section of the Company’s website at https://ir.wexinc.com/.

Appendix

Reconciliation of GAAP Net Income Attributable to Shareholders per Diluted Share to Adjusted Net Income Attributable to Shareholders per Diluted Share

(Unaudited)	Year Ended December 31,
	2013	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Net income (loss) attributable to shareholders per diluted share (GAAP)	$3.82	$0.57	$3.71	$3.86	$2.26	$(5.56)	$—	$4.50	$6.16	$7.50	$8.47
Unrealized loss (gain) on financial instruments	$0.14	$(0.19)	$(0.03)	$(0.06)	$0.79	$0.62	$(0.86)	$(1.86)	$0.70	$0.01	$(0.02)
Net foreign currency loss (gain)	$—	$0.23	$(0.73)	$0.89	$0.02	$0.59	$0.27	$0.51	$(0.11)	$0.63	$—
Acquisition-related intangible amortization	$0.85	$2.39	$3.57	$3.17	$3.64	$3.90	$4.01	$3.81	$4.25	$4.89	$5.34
Other acquisition and divestiture related items	$(0.02)	$1.24	$0.12	$0.10	$0.86	$1.32	$0.81	$0.40	$0.15	$0.29	$0.25
Legal settlement	$—	$—	$—	$—	$—	$3.71	$—	$—	$—	$—	$—
Stock-based compensation	$0.24	$0.48	$0.71	$0.81	$1.09	$1.50	$1.70	$2.25	$3.04	$2.71	$2.88
Other costs	$(0.04)	$0.34	$0.26	$0.31	$0.57	$0.31	$0.52	$0.86	$1.05	$1.19	$0.71
Vendor settlement	$—	$0.38	$—	$—	$—	$—	$—	$—	$—	$—	$—
(Gain) loss on sale of subsidiary	$—	$—	$(0.49)	$—	$—	$1.06	$—	$—	$—	$—	$—
Impairment charges and asset write-offs	$—	$—	$1.02	$0.13	$—	$1.22	$—	$3.05	$—	$—	$0.28
Debt restructuring and debt issuance cost amortization	$—	$0.31	$0.24	$0.32	$0.48	$0.91	$0.48	$0.39	$2.06	$0.39	$0.23
Change in fair value of contingent consideration	$—	$—	$—	$—	$—	$—	$0.88	$3.11	$0.20	$0.16	$0.08
Non-cash adjustments related to tax receivable agreement	$—	$0.01	$(0.35)	$0.02	$(0.02)	$(0.01)	$—	$—	$—	$—	$—
ANI adjustments attributable to non-controlling interests	$—	$(0.06)	$(0.04)	$(0.03)	$1.21	$(0.98)	$2.91	$(0.77)	$—	$—	$—
Tax related items	$(0.41)	$(1.93)	$(2.67)	$(1.24)	$(1.71)	$(2.47)	$(1.58)	$(2.59)	$(2.59)	$(2.47)	$(2.13)
Dilutive impact of stock awards	$—	$—	$—	$—	$—	$(0.06)	$—	$—	$—	$—	$—
Dilutive impact of convertible debt	$—	$—	$—	$—	$—	$—	$—	$(0.13)	$(0.10)	$—	$—
Adjusted net income attributable to shareholders per diluted share	$4.58	$3.78	$5.32	$8.28	$9.20	$6.06	$9.14	$13.53	$14.81	$15.28	$16.10

Reconciliation of Consolidated Net Income to ROIC measurements and GAAP net income to adjusted EBITDA

(Unaudited)	WEX
($M)	2023	2024	2025

Consolidated Net Income	$266.6	$309.6	$304.1
Operating and financing interest	288.8	340.0	349.5
Income tax expense	102.2	108.2	116.1
Depreciation and amortization expense	276.2	321.3	331.1
Other items	–	–	–
EBITDA	$933.8	$1,079.1	$1,100.9
Non-cash stock-based compensation	127.0	112.2	100.3
Other	126.5	98.7	58.2
Adjusted EBITDA	$1,187.3	$1,290.0	$1,259.4

Consolidated Net Income	266.6	309.6	304.1
Operating and financing interest	288.8	340.0	349.5
Foreign exchange (gain)/loss	(4.9)	26.2	0.2
Net operating profit after tax (NOPAT)	$550.5	$675.8	$653.9

Average Invested Capital¹⁰	$5,034.4	$5,229.2	$4,878.4

NOPAT ROIC	10.9%	12.9%	13.4%

¹ Refers to the Company’s “2025 Performance Peers Group,” as described on page 65 of the Company’s Definitive Proxy Statement, filed with the SEC on April 3, 2026. Peers include ACI Worldwide, Affirm Holdings, AvidXchange Holdings, BILL Holdings, Block, Bread Financial Holdings, Broadridge Financial Solutions, Corpay, CSG Systems International, Dayforce, Equifax, Euronet Worldwide, EVERTEC, Fidelity National Information Services, Fiserv, Global Payments, HealthEquity, Jack Henry & Associates, Marqeta, MAXIMUS, NCR Atleos, Paychex, Paycom Software, Paylocity Holding Corp., Paymentus Holdings, Payoneer Global, PayPal Holdings, Remitly Global, Shift4 Payments, Toast, TransUnion, Voya Financial and Western Union.

² Source: Bloomberg. Data from May 14, 2025 to April 21, 2026.

³ See appendix for a reconciliation of GAAP net income per diluted share to non -GAAP adjusted net income per diluted share.

⁴ See appendix for a reconciliation of GAAP net income to non-GAAP net operating profit after tax and GAAP net income to adjusted EBITDA and an explanation of the ROIC calculation.

⁵ Source: Bloomberg. Data ending as of April 21, 2026.

⁶ See supra at Endnote 1 for peer group constituents.

⁷ Refers to the Company’s “2024 Performance Peer Group,” as described on page 56 of the Company’s Definitive Proxy Statement, filed with the SEC on April 17, 2025. Peers include Block, Bread Financial Holdings, Corpay, Equifax, Fidelity National Information Services, Fiserv, Global Payments, HealthEquity, Jack Henry & Associates, PayPal Holdings, TransUnion and Western Union.

⁸ Peers include ACI Worldwide, BILL Holdings, Block, Broadridge Financial Solutions, Corpay, CSG Systems International, Dayforce, Euronet Worldwide, EVERTEC, Fair Isaac, HealthEquity, Jack Henry & Associates, Paychex, Paycom Software, Paylocity Holding Corp. and TransUnion.

⁹ Source: Bloomberg. Data ending as of April 21, 2026.

¹⁰ “Average Invested Capital” refers to average equity plus average short and long-term debt as reported, less FHLB advances.

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News Media Contact:

Edelman Smithfield

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Investor Contact:

WEX

Steve Elder, 207-523-7769

[email protected]

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