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Practus LLP deploys Intapp’s agentic AI solutions to power innovation and growth

Practus LLP deploys Intapp’s agentic AI solutions to power innovation and growth

From conflicts and intake to relationship intelligence, a next-generation virtual law firm is building its operational backbone on Intapp’s governed AI platform

PALO ALTO, Calif.–(BUSINESS WIRE)–
Intapp (NASDAQ: INTA), the governed AI platform for professional firms in highly regulated industries, today announced that legal services firm Practus, LLP, and its back-office services provider, Auxana Administrative Services, have chosen Intapp as a core technology partner to streamline their legal and business operations. Intapp’s integrated applications, including its native agentic AI capabilities, will help Practus and Auxana improve efficiency across intake, conflicts, time, and client relationship management.

Practus is a next-generation law firm founded in 2018 by John Lively to modernize the delivery of legal services. The virtual firm combines top-tier legal expertise with a flexible, technology-forward operating model. Central to Practus’ continued growth is Auxana Administrative Services, an integrated legal services organization that provides back-office operations, technology, and administrative infrastructure for law firms and other professional services organizations. Through Auxana’s platform and strategic technology leadership, Practus selected Intapp to implement a unified, enterprise-grade solution that enhances client intake, improves data visibility, and streamlines firmwide operational efficiency.

Technology is central to the identity and operational model of Practus and Auxana. They continually evaluate technology investments to ensure they meet the evolving needs of their lawyers and clients. Through a strategic approach to technology adoption, Auxana turned to Intapp to create a connected ecosystem of AI-enabled solutions designed to simplify workflows, strengthen connectivity across its virtual environment, and enhance client relationships.

Delivering elevated legal services

For the past two years, Practus and Auxana have used Intapp Conflicts to quickly and thoroughly evaluate new business. The solution helps them identify and address ethical, business, and subject-matter conflicts of interest, while Intapp Walls maintains information barriers that protect sensitive information across the firms. The organizations have now added Intapp Intake to automate client onboarding processes by capturing critical data needed to manage compliance with industry regulations. This enables partners to focus on delivering exceptional client service rather than manual data capture and entry.

With Intapp Time, Practus and Auxana will give their lawyers flexible timekeeping methods, AI capabilities, and an easy, modern way to record their time and prevent losing billable hours. The solution will also help them easily see how they’re allocating their time, and better understand the value delivered across each matter.

Empowering lawyers with data and AI

For business development, Practus and Auxana will deploy Intapp DealCloud with Celeste. Celeste is the expert AI coworker that transforms how professionals interact with DealCloud. Rather than navigating records or pulling reports, lawyers and business-development professionals can ask questions in plain language and receive synthesized answers drawn across relationship history, engagement activity, and pipeline context. Celeste also eliminates manual data entry through document ingestion and conversational record updates, helping keep firm intelligence current without interrupting the flow of work. Pre-meeting briefs, pipeline summaries, and relationship intelligence that would otherwise require hours of research can be surfaced in seconds. This helps business-development teams identify the warmest path to a contact, prioritize outreach, and engage clients and prospects with the full weight of the firm’s collective knowledge behind every interaction.

With DealCloud, Practus and Auxana will have a centralized platform where lawyers and business professionals can find and reference communications, workflows, and other data relating to client relationships, outreach, and engagements. Zero-entry data capabilities will help the firm build and manage a comprehensive view of its relationships with clients, prospects, and other contacts. Access to collective firm intelligence will help teams use AI to strengthen relationships, accurately track and forecast work, accelerate execution, and identify opportunities to expand relationships across other business units. Leveraging proprietary and third-party data will also provide actionable insights into client trends and industry developments.

Software delivery

To facilitate a successful deployment of Intapp Intake, Time, and DealCloud, Auxana will work closely with the Intapp Implementation Services team, as well as Epiq and Nidaan Systems — both Intapp partners. These implementation specialists will take an iterative, user-centric approach aligned with Auxana’s unique business needs.

Supporting quotes

Valerie Spengler, Chief Innovation and Strategy Officer, Practus, LLP

“From the start, Practus was built to run without the overhead a traditional firm carries. Our people collaborate seamlessly regardless of location. Intapp gives us one connected system for the business of running the firm, so conflicts, intake, and time don’t pull our lawyers away from the sophisticated work clients hire them for.”

Laura Saklad, Vice President, Legal Industry, Intapp

“Choosing Intapp for conflicts, intake, and time management aligns directly with Auxana’s ‘intelligent use of resources’ strategy — letting them achieve optimal outcomes while easing the administrative burden on their professionals. It will also allow Auxana to better collect and use institutional knowledge to make more informed decisions for their own businesses and their clients’ businesses alike.”

Chris Raymond, Practice Group Leader, Intapp

“As Auxana and Practus grow, DealCloud will help them expand their offerings in alignment with their clients’ needs. Access to centralized data will also let each professional make better use of firmwide intelligence across the client lifecycle to build their books of business.”

Additional resources

Connect with Intapp

Forward-Looking Statements

This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Intapp’s products and services and the expected results or benefits from use of our products and services. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and any subsequent public filings. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. We assume no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law. Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Intapp’s discretion and may not be delivered as planned or at all.

About Intapp

Intapp (NASDAQ: INTA) is the governed AI platform for professional firms in highly regulated industries. Intapp’s vertically tailored agentic solutions are built for the specialized workflows, complex relationship networks, and professional compliance requirements of accounting, consulting, investment banking, law, private capital, and real assets firms. By applying Firm AI to core processes and data, Intapp helps partners, dealmakers, and advisors drive firm growth, manage compliance, and improve profitability. Learn why the world’s top firms trust Intapp’s industry-specific enterprise solutions at intapp.com.

Emily Martinez

Global Media and Communications Director

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Professional Services Legal Technology Artificial Intelligence Software

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SABA Announces $0.058 Dividend

SABA Announces $0.058 Dividend

NEW YORK–(BUSINESS WIRE)–
Saba Capital Income & Opportunities Fund II (NYSE: SABA) (the “Fund”), a registered closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of $0.058 per share on August 31, 2026, payable on September 30, 2026 to shareholders of record as of September 9, 2026.

Managed Distribution Plan. The above distribution was declared in accordance with the Fund’s currently effective managed distribution plan (the “Plan”), whereby the Fund will make monthly distributions to shareholders at a fixed amount of $0.058 per share. Thus, the distribution amount shown excludes special dividends (which are not paid pursuant to the plan). The Fund will generally distribute amounts necessary to satisfy the Fund’s Plan and the requirements prescribed by excise tax rules and Subchapter M of the Internal Revenue Code. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the net asset value of the Fund’s common shares, but there is no assurance that the Plan will be successful in doing so.

Under the Plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. As a result, long-term capital gains and/or return of capital may be a material source of any distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan. The Board of Trustees (the “Board”) may amend the terms of the Plan or terminate the Plan at any time without prior notice to Fund shareholders. No level of distribution can be guaranteed. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan is subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

In compliance with Rule 19a-1 of the Investment Company Act of 1940, shareholders will receive a notice that details the source of income for the above dividend, such as net investment income, gain from the sale of securities and return of principal; however, determination of the actual source of the foregoing dividend can only be made at year-end. The actual source amounts of all Fund dividends will be included in the Fund’s annual or semiannual reports. In addition, the tax treatment may differ from the accounting treatment used to calculate the source of the Fund’s dividends as shown on shareholders’ statements. Shareholders should refer to their Form 1099-DIV for the character and amount of distributions for income tax reporting purposes. Since each shareholder’s tax situation is unique, it may be advisable to consult a tax advisor as to the appropriate treatment of Fund distributions.

Past Performance is No Assurance of Future Results. Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Investors should consider the investment objective, risks and expenses carefully. You can obtain the Fund’s most recent periodic reports and filings by visiting https://www.sec.gov/edgar/browse/?CIK=828803&owner=exclude.

Other Information and Certain Risk Factors: The Fund’s investment objective is to provide investors with high current income, with a secondary goal of capital appreciation. There can be no assurance that the Fund will meet its investment objective. The Fund seeks to achieve this objective by investing globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed-end funds, special purpose acquisition companies (“SPACs”), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives including but not limited to total return swaps, credit default swaps, options and futures, in seeking to enhance returns and/or to reduce portfolio risk.

The value of the Fund’s investments in equity securities of public and private, listed and unlisted companies and equity derivatives generally varies with the performance of the issuer and movements in the equity markets more generally. As a result, the Fund may suffer losses if it invests in equity instruments of issuers whose performance diverges from the Fund’s investment manager’s expectations or if equity markets generally move in a single direction and the Fund has not hedged against such a general move. The Fund invests in closed-end funds and SPACs, which are subject to additional risks and considerations. The performance of reinsurance-related securities and the reinsurance industry itself are tied to the occurrence of various triggering events, including but not limited to weather, natural disasters (hurricanes, earthquakes, etc.), non-natural large catastrophes and other specified events causing physical and/or economic loss. To the extent the Fund invests in reinsurance-related securities for which a triggering event occurs, losses associated with such event could result in losses to the Fund’s investment, and a series of major triggering events affecting a large portion of the reinsurance- related securities held by the Fund could result in substantial losses to the Fund’s investment. The Fund may invest in high yield securities, which are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. Changes in short-term market interest rates may directly affect the yield on the Fund’s common shares. If such rates fall, the Fund’s yield may also fall. If interest rate spreads on bonds and loans owned by the Fund decline in general, the yield on the bonds and loans will likely fall and the value of such bonds and loans may decrease. When short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on bonds and loans in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag. Because of the limited secondary market for certain bonds and loans, the Fund’s ability to sell such securities in a timely fashion and/or at a favorable price may be limited. An increase in the demand for bonds and loans may adversely affect the rate of interest payable on new bonds and loans acquired by the Fund, and it may also increase the price of bonds and loans purchased by the Fund in the secondary market. A decrease in the demand for bonds and loans may adversely affect the price of bonds and loans in the Fund’s portfolio, which would cause the Fund’s net asset value to decrease. Investment in foreign borrowers involves special risks, including but not limited to potentially less rigorous accounting requirements, differing legal systems and potential political, social and economic adversity. The Fund may engage in currency exchange transactions to seek to hedge, as closely as practicable, all of the economic impact to the Fund arising from foreign currency fluctuations. Other risks include, but are not limited to, the use of derivatives, the potential lack of diversification in the Fund’s portfolio, and the fact that the Fund’s portfolio may be concentrated in a small group of industries or industry sectors from time to time. Investors should consult the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website for a more detailed discussion of these or other risk factors that affect the Fund.

About Saba Capital Income & Opportunities Fund II. Saba Capital Income & Opportunities Fund II is a publicly-traded registered closed-end management investment company. The Fund’s common shares trade on the New York Stock Exchange under the ticker symbol “SABA”. The Fund is managed by Saba Capital Management, L.P.

Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors, including but not limited to the “Certain Risk Factors” noted above, are identified from time to time in the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.

For further information on Saba Capital Income & Opportunities Fund II, please visit our website at: www.sabacef.com.

888-888-0319

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

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BRW Announces $0.085 Dividend

BRW Announces $0.085 Dividend

NEW YORK–(BUSINESS WIRE)–
Saba Capital Income & Opportunities Fund (NYSE: BRW) (the “Fund”), a registered closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of $0.085 per share on August 31, 2026, payable on September 30, 2026 to shareholders of record as of September 9, 2026.

Managed Distribution Plan. The above distribution was declared in accordance with the Fund’s currently effective managed distribution plan (the “Plan”), whereby the Fund will make monthly distributions to shareholders at a fixed amount of $0.085 per share. Thus, the distribution amount shown excludes special dividends (which are not paid pursuant to the plan). The Fund will generally distribute amounts necessary to satisfy the Fund’s Plan and the requirements prescribed by excise tax rules and Subchapter M of the Internal Revenue Code. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the net asset value of the Fund’s common shares, but there is no assurance that the Plan will be successful in doing so.

Under the Plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. As a result, long-term capital gains and/or return of capital may be a material source of any distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan. The Board of Trustees (the “Board”) may amend the terms of the Plan or terminate the Plan at any time without prior notice to Fund shareholders. No level of distribution can be guaranteed. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan is subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

In compliance with Rule 19a-1 of the Investment Company Act of 1940, shareholders will receive a notice that details the source of income for the above dividend, such as net investment income, gain from the sale of securities and return of principal; however, determination of the actual source of the foregoing dividend can only be made at year-end. The actual source amounts of all Fund dividends will be included in the Fund’s annual or semiannual reports. In addition, the tax treatment may differ from the accounting treatment used to calculate the source of the Fund’s dividends as shown on shareholders’ statements. Shareholders should refer to their Form 1099-DIV for the character and amount of distributions for income tax reporting purposes. Since each shareholder’s tax situation is unique, it may be advisable to consult a tax advisor as to the appropriate treatment of Fund distributions.

Past Performance is No Assurance of Future Results. Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Investors should consider the investment objective, risks and expenses carefully. You can obtain the Fund’s most recent periodic reports and filings by visiting https://www.sec.gov/edgar/browse/?CIK=826020&owner=exclude.

Other Information and Certain Risk Factors: The Fund’s investment objective is to provide investors with a high level of current income, with a secondary goal of capital appreciation. There can be no assurance that the Fund will meet its investment objective. The Fund seeks to achieve this objective by investing globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed‐end funds, special purpose acquisition companies (“SPACs”), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives including but not limited to total return swaps, credit default swaps, options and futures, in seeking to enhance returns and/or to reduce portfolio risk.

The value of the Fund’s investments in equity securities of public and private, listed and unlisted companies and equity derivatives generally varies with the performance of the issuer and movements in the equity markets more generally. As a result, the Fund may suffer losses if it invests in equity instruments of issuers whose performance diverges from the Fund’s investment manager’s expectations or if equity markets generally move in a single direction and the Fund has not hedged against such a general move. The Fund invests in closed-end funds and SPACs, which are subject to additional risks and considerations. The performance of reinsurance-related securities and the reinsurance industry itself are tied to the occurrence of various triggering events, including but not limited to weather, natural disasters (hurricanes, earthquakes, etc.), non-natural large catastrophes and other specified events causing physical and/or economic loss. To the extent the Fund invests in reinsurance-related securities for which a triggering event occurs, losses associated with such event could result in losses to the Fund’s investment, and a series of major triggering events affecting a large portion of the reinsurance- related securities held by the Fund could result in substantial losses to the Fund’s investment. The Fund may invest in high yield securities, which are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. Changes in short-term market interest rates may directly affect the yield on the Fund’s common shares. If such rates fall, the Fund’s yield may also fall. If interest rate spreads on bonds and loans owned by the Fund decline in general, the yield on the bonds and loans will likely fall and the value of such bonds and loans may decrease. When short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on bonds and loans in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag. Because of the limited secondary market for certain bonds and loans, the Fund’s ability to sell such securities in a timely fashion and/or at a favorable price may be limited. An increase in the demand for bonds and loans may adversely affect the rate of interest payable on new bonds and loans acquired by the Fund, and it may also increase the price of bonds and loans purchased by the Fund in the secondary market. A decrease in the demand for bonds and loans may adversely affect the price of bonds and loans in the Fund’s portfolio, which would cause the Fund’s net asset value to decrease. The Fund’s use of leverage, if any, through borrowings or issuance of preferred shares can adversely affect the yield on the Fund’s common shares. Investment in foreign borrowers involves special risks, including but not limited to potentially less rigorous accounting requirements, differing legal systems and potential political, social and economic adversity. The Fund may engage in currency exchange transactions to seek to hedge, as closely as practicable, all of the economic impact to the Fund arising from foreign currency fluctuations. Other risks include, but are not limited to, the use of derivatives, the potential lack of diversification in the Fund’s portfolio, and the fact that the Fund’s portfolio may be concentrated in a small group of industries or industry sectors from time to time. Investors should consult the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website for a more detailed discussion of these or other risk factors that affect the Fund.

About Saba Capital Income & Opportunities Fund. Saba Capital Income & Opportunities Fund is a publicly-traded registered closed-end management investment company. The Fund’s common shares trade on the New York Stock Exchange under the ticker symbol “BRW”. The Fund is managed by Saba Capital Management, L.P.

Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors, including but not limited to the “Certain Risk Factors” noted above, are identified from time to time in the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.

For further information on Saba Capital Income & Opportunities Fund, please visit our website at: www.sabacef.com.

844-460-9411

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

MEDIA:

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AkzoNobel and Axalta announce three directors to finalize Board of combined company

AMSTERDAM and PHILADELPHIA, Aug. 31, 2026 (GLOBE NEWSWIRE) — Akzo Nobel N.V. (AKZA; AKZOY) (“AkzoNobel”) and Axalta Coating Systems Ltd. (AXTA) (“Axalta”) today announced that Stephan B. Tanda, Denise C. Johnson and Robert Schuchna have agreed to serve as non-executive Directors of the combined company upon completion of their pending merger of equals.

Rakesh Sachdev, Chair of the Axalta Board of Directors – who will serve as Chair of the combined company Board, stated, “We are pleased to announce that Stephan, Denise and Robert will join the combined company Board upon closing of our merger. Stephan and Denise each bring significant senior executive experience driving growth at a variety of industrial businesses, and Robert’s deep investment background will reinforce the Board’s focus on long-term value creation. Together, their expertise will further strengthen the Board and enhance its oversight of the combined company’s strategic priorities.”

Ben Noteboom, Chairman of the Supervisory Board of AkzoNobel, who will serve as ViceChair of the combined company Board, said: “These highly qualified independent directors bring experience that will support the Board as we bring together our complementary portfolios, industry-leading innovation capabilities and talented teams. We have already seen the value Robert has added to AkzoNobel as a member of our Supervisory Board, and we look forward to benefiting from his continued insights alongside Stephan and Denise. With the Board now fully assembled, we are confident the combined company is well positioned to realize the full potential of the merger by accelerating innovation, strengthening customer relationships and delivering sustainable growth.”

As of closing, the combined company Board will be composed of Rakesh Sachdev (Chair), Ben Noteboom (Vice-Chair), Greg Poux-Guillaume (CEO), Chris Villavarayan (Deputy CEO), Jaska de Bakker, Jan Bertsch, Denise Johnson, Wouter Kolk, Robert Schuchna, Kevin Stein and Stephan Tanda.

About Denise C. Johnson

Johnson is currently a Group President of Caterpillar and is responsible for Resource Industries (RI), where she has responsibilities for mining, heavy construction, quarry and aggregates products, services and technology. She also serves as a Director of ABB, a global technology leader focused on electrification and automation. Before joining Caterpillar in 2011, she worked for General Motors (GM) in different managerial roles in the US and as President and Managing Director of GM in Brazil. Johnson holds a Bachelor’s degree in mechanical engineering from Michigan State University and Master’s degrees in mechanical engineering and business administration from the Massachusetts Institute of Technology (MIT).

About Robert Schuchna

Schuchna is a partner at Cevian Capital, the leading active ownership fund focused on public companies in Europe. He has played an instrumental role in investments across the chemicals, consumer goods, industrials and pharma sectors, from initial due diligence through the development and implementation of value-enhancement plans. Schuchna currently serves on the AkzoNobel Supervisory Board, as well as the Board of Directors of Rexel. Schuchna holds a Master’s degree in banking and finance from the University of Zurich.

About Stephan B. Tanda

Tanda currently serves as President and CEO of AptarGroup, which has announced his retirement as CEO on September 1, 2026. At AptarGroup, he drove transformation of the company’s strategy from a consumer-focused packaging manufacturer into a high-margin, innovation-led leader in drug delivery and active material sciences. Previously, he served as an Executive Managing Board Director for ten years at Royal DSM NV. His career also includes leadership roles at DuPont and Freudenberg Nonwovens Group. He currently serves as a Director of AptarGroup and of Ingredion, a global provider of ingredients for the food, beverage, brewing and pharmaceutical industries and numerous industrial sectors, and previously served as a Director on the Board of Patheon NV, a Pharma Custom Manufacturer, from its IPO to its sale to ThermoFisher Scientific, and on the board of Semperit AG. Tanda holds a degree in Plastics Engineering from the University of Leoben in Austria, as well as an MBA from the Wharton School of the University of Pennsylvania.


About AkzoNobel


Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing more sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.


About Axalta


Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information visit axalta.com and follow us on LinkedIn.


Not for publication – for more information

   
AkzoNobel Media Relations AkzoNobel Investor Relations
T +31 (0)88 – 969 7833
Contact: Diana Abrahams
[email protected]		 T +31 (0)88 – 969 0139
Contact: Jan Willem Enhus
[email protected]
   
Axalta Media Relations Axalta Investor Relations
T +1 (302) 290-3906
Contact: Patricia Morschel
[email protected]		 T +1 (610) 999-9407
Contact: Colleen Lubic
[email protected]
   

General Restrictions

This communication is not for release, publication, or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication, or distribution would be unlawful.

This communication is not a prospectus and the information in this communication is not intended to be complete. This communication is for informational purposes only and is not intended to be and shall not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or an invitation or recommendation to subscribe for, acquire or buy securities of AkzoNobel or Axalta or any other financial products or securities, in any place or jurisdiction, nor shall there be any offer, solicitation 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 offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended (the “Securities Act”).

Any decision to purchase, subscribe for, otherwise acquire, sell or otherwise dispose of any securities must be made only on the basis of the information contained in and incorporated by reference into the prospectus with respect to the shares to be allotted by AkzoNobel in the proposed transaction, which was published on June 24, 2026.

The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, AkzoNobel and Axalta disclaim any responsibility or liability for the violation of any such restrictions by any person. Neither AkzoNobel, nor Axalta, nor any of their advisors assume any responsibility for any violation by any person of any of these restrictions. Shareholders of AkzoNobel and Axalta, respectively, with any doubt as to their position should consult an appropriate professional advisor without delay.

This communication is addressed to and directed only at (i) persons who are outside the United Kingdom, (ii) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (iii) persons falling within Article 49(2)(a) to (d) of the Order, or (iv) persons to whom it may otherwise lawfully be communicated pursuant to the Order (all such persons together being referred to as, “Relevant Persons”). This communication is directed only at Relevant Persons and persons who are not Relevant Persons should not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Solicitations resulting from this communication will only be responded to if the person concerned is a Relevant Person.

Additional Information and Where to Find It

In connection with the proposed transaction between AkzoNobel and Axalta, AkzoNobel filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form F-4 on May 27, 2026, as amended on June 18, 2026, which included a proxy statement of Axalta that also constitutes a prospectus with respect to the shares to be offered by AkzoNobel in the proposed transaction. The registration statement was declared effective by the SEC on June 23, 2026. In connection with the proposed transaction, on June 24, 2026, Axalta filed with the SEC a definitive proxy statement and, on or about June 24, 2026, Axalta commenced mailing the definitive proxy statement to its holders of record as of June 11, 2026. Each of AkzoNobel and Axalta will also file other relevant documents in connection with the proposed transaction. This communication is not a substitute for any registration statement, proxy statement/prospectus or other documents AkzoNobel and/or Axalta may file with the SEC or any other competent regulator in connection with the proposed transaction. This communication does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. BEFORE MAKING ANY INVESTMENT DECISIONS, INVESTORS, STOCKHOLDERS AND SHAREHOLDERS OF AKZONOBEL AND AXALTA ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS, AS APPLICABLE, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT AKZONOBEL, AXALTA, THE PROPOSED TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other relevant documents filed by AkzoNobel and Axalta with the SEC are available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC from Axalta’s investor relations webpage at https://ir.axalta.com/sec-filings/all-sec-filings or from AkzoNobel’s investor relations webpage at https://www.akzonobel.com/en/investors/all-sec-filings.

The contents of this communication should not be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own professional advisors for any such matter and advice.

Cautionary Statement Concerning Forward-Looking Statements

This communication contains forward-looking statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, regarding, among other things, statements about management’s expectations of AkzoNobel’s and Axalta’s future operating and financial performance, product development, market position, and business strategy. Such forward-looking statements can sometimes be identified by the use of forward-looking terms such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “potential,” “seeks,” “aims,” “projects,” “predicts,” “is optimistic,” “intends,” “plans,” “estimates,” “targets,” “anticipates,” “continues” or other comparable terms or negatives of these terms, but not all forward-looking statements include such identifying words. You are cautioned not to rely on these forward-looking statements. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. We can give no assurance that such plans, estimates or expectations will be achieved and therefore, actual results may differ materially from any plans, estimates or expectations in such forward-looking statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include: a condition to the closing of the proposed transaction may not be satisfied; the occurrence of any event that can give rise to termination of the proposed transaction; a regulatory approval that may be required for the proposed transaction is delayed, is not obtained or is obtained subject to conditions that are not anticipated; AkzoNobel and Axalta are unable to achieve the synergies and value creation contemplated by the proposed transaction; AkzoNobel and Axalta are unable to promptly and effectively integrate their businesses; management’s time and attention is diverted on transaction related issues; the possibility that competing offers or acquisition proposals may be made; disruption from the proposed transaction makes it more difficult to maintain business, contractual and operational relationships; the credit ratings of AkzoNobel or Axalta decline following the proposed transaction; legal proceedings are instituted against AkzoNobel or Axalta, including resulting expense or delay; AkzoNobel or Axalta is unable to retain or hire key personnel; the communication or the consummation of the proposed acquisition has a negative effect on the market price of the capital stock of AkzoNobel or Axalta or on AkzoNobel’s or Axalta’s operating results; evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions, in the Netherlands, the United States and elsewhere, and other factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics (e.g., the coronavirus (COVID-19) pandemic), geopolitical uncertainty, and conditions that may result from legislative, regulatory, trade and policy changes associated with the current or subsequent United States or Netherlands administration; the ability of AkzoNobel or Axalta to successfully recover from a disaster or other business continuity problem due to a hurricane, flood, earthquake, terrorist attack, war, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made event, including the ability to function remotely during long-term disruptions; the impact of public health crises, such as pandemics and epidemics and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets, including any quarantine, “shelter in place,” “stay at home,” workforce reduction, social distancing, shut down or similar actions and policies; actions by third parties, including government agencies; the risk that disruptions from the proposed transaction will harm AkzoNobel’s or Axalta’s business, including current plans and operations and/or divert management’s attention from AkzoNobel’s or Axalta’s ongoing business operations; certain restrictions during the pendency of the acquisition that may impact AkzoNobel’s or Axalta’s ability to pursue certain business opportunities or strategic transactions; AkzoNobel’s or Axalta’s ability to meet expectations regarding the accounting and tax treatments of the proposed transaction; the risks and uncertainties discussed in AkzoNobel’s latest annual report as filed with the AFM, the Dutch trade register and on its website at https://www.akzonobel.com/en/investors/results-center; and the risks and uncertainties discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in Axalta’s reports filed with the SEC. These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the proxy statement/prospectus. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Except as required by law, neither AkzoNobel nor Axalta assumes any obligation to update or revise the information contained herein, which speaks only as of the date hereof.



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Horizon Bank Appoints Nicholas Ritter and Charles Sulerzyski to Serve as Independent Directors

MICHIGAN CITY, Ind., Aug. 18, 2026 (GLOBE NEWSWIRE) — (NASDAQ GS: HBNC) Horizon Bancorp, Inc. (“Horizon” or the “Company”) announced the appointments on August 18, 2026 of Nicholas J. Ritter and Charles W. Sulerzyski to serve as independent directors on the Horizon Bancorp, Inc. Board and the Board of its wholly owned subsidiary, Horizon Bank.

Ritter is the retired Executive Vice President, Chief Information Security Officer of WorldPay, a global payments technology company which was headquartered in Cincinnati, Ohio. He joined WorldPay in 2024 and retired in 2026 after building the information security program post-divestiture from Fidelity National Information Systems (FIS) through its acquisition in 2025 by Global Payments. Prior to joining WorldPay, he was the Senior Vice President, Chief Enterprise Security Officer for First Financial Bank, Cincinnati from 2020 to 2024. Ritter earned his bachelor’s degree in Computer Science from the University of Kentucky, Lexington, Kentucky.

Ritter is assigned to the Enterprise Risk Management Committee and Operations and Cyber Security Committee.

Sulerzyski is the retired President and CEO of Peoples Bancorp, Inc., headquartered in Marietta, Ohio. He joined Peoples Bancorp, Inc. in 2011 and retired in 2024 after growing the holding company’s wholly owned subsidiary, People’s Bank, from $1.7 billion to $9.2 billion through acquisitions and organic growth. During his tenure with Peoples Bancorp, Inc., he served on the holding company’s board of directors. Sulerzyski also served as the President, Great Lakes Region, of KeyBank, N.A. from 2005 to 2010 and as the National Chair of the Community Depository Institutions Advisory Council, in 2024 after serving as the Chair of the Cleveland District from 2021to 2023. Sulerzyski earned his bachelor’s degree in Economics from New York University and his Master of Business Administration from Fordham University Graduate School of Business, also in New York City.

Sulerzyski is assigned to the Enterprise Risk Management and Wealth Committees.

“We are pleased to welcome Nicholas and Charles as our newest independent directors. Their collective expertise spans P&L leadership, customer experience, audit, compliance, and strategic oversight, bringing valuable perspectives that will help guide Horizon’s continued growth and support our commitment to delivering value for shareholders and the communities we serve,” said Thomas M. Prame, Chairman and President of Horizon Bank and Chief Executive Officer and President of the Company.

About Horizon Bancorp, Inc.

Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the $6.6 billion-asset commercial bank holding company for Horizon Bank, which serves customers across diverse and economically attractive Midwestern markets through convenient digital and virtual tools, as well as its Indiana and Michigan branches. Horizon’s retail offerings include prime residential and other secured consumer lending to in-market customers, as well as a range of personal banking and wealth management solutions. Horizon also provides a comprehensive array of in-market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally, with commercial lending representing over half of total loans. More information on Horizon, headquartered in Northwest Indiana’s Michigan City, is available at horizonbank.com and investor.horizonbank.com.

Contact: Thomas Prame
Chief Executive Officer and President
Phone: (219) 814-5983



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SS&C Increases Common Stock Dividend 11.1% to $1.20 Annually

SS&C Increases Common Stock Dividend 11.1% to $1.20 Annually

WINDSOR, Conn.–(BUSINESS WIRE)–SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced its Board of Directors has approved a dividend of $1.20 per share annually, an 11.1% increase from the prior annual rate. The next quarterly dividend of $0.30 per share will be paid on September 15, 2026, to stockholders of record as of the close of business on September 1, 2026.

Bill Stone, Chairman and CEO, commented: “Today’s dividend increase reflects the strength and consistency of our cash flow. We generated $716.4 million of net cash from operating activities in the first half of 2026, up 11.1% year over year. This strong cash flow gives us the flexibility to raise our dividend while continuing to repurchase shares, pay down debt and pursue high-quality acquisitions. With strong sales, high retention rates and steady margin expansion, we see significant opportunity ahead. We remain committed to disciplined capital allocation.”

About SS&C Technologies

SS&C is a leading provider of mission-critical, AI-powered technology and services that help financial services and healthcare organizations operate smarter, faster, and more securely. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices worldwide. More than 23,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology. Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on X, LinkedIn and Facebook.

Brian Schell | Chief Financial Officer, SS&C Technologies

Tel: +1-816-642-0915 | E-mail: [email protected]

Justine Stone | Investor Relations, SS&C Technologies

Tel: +1-212-367-4705 | E-mail: [email protected]

Chand Madaka │ Investor Relations, SS&C Technologies

Tel: +1-908-845-1259 │ E-mail: [email protected]

KEYWORDS: Connecticut United States North America

INDUSTRY KEYWORDS: Software Health Artificial Intelligence Health Technology Professional Services Technology Fintech Security

MEDIA:

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Matrix Service Company Sets Date for Release of Fiscal Year 2026 Fourth Quarter and Full-Year Results and Conference Call

HOUSTON, Aug. 18, 2026 (GLOBE NEWSWIRE) — Matrix Service Company (Nasdaq: MTRX), a leading provider of engineering and construction services to the energy and industrial markets, announced today that it will release fourth quarter and full-year Fiscal 2026 results after market on Wednesday, September 2, 2026.

On Thursday, September 3, 2026, at 10:30 a.m. Eastern time/9:30 a.m. Central time, Matrix Service Company will host a conference call to present and discuss the Company’s financial results and forward outlook.

Earnings Conference Call instructions

Investors and other interested parties can access a live audio-visual webcast using this webcast link, or through the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The conference call will be recorded and will be available for replay within one hour of completion of the live call and can be accessed following the same link as the live call.

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX) is a leading heavy industrial contractor that engineers, constructs, and maintains critical energy, power, and industrial infrastructure. Our commitment to safety, quality, and integrity has earned the Company a leadership position in providing infrastructure solutions across multiple end markets. Our work is foundational to helping our energy, power, and industrial clients achieve their objectives, positively impact quality of life through the products they provide and improve the efficiency and resilience of their critical infrastructure. We pride ourselves on our commitment to our culture and core values, offering an inclusive and respectful work environment, and being certified as a Great Place To Work®.

The Company maintains its principle executive offices in Houston, Texas with offices located throughout the United States and Canada, as well as Sydney, Australia, and Seoul, South Korea. The Company reports its financial results in three key operating segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. To learn more about Matrix Service Company, visit matrixservicecompany.com

For more information about Matrix, please contact:

Patrick Roberts
Matrix Service Company
Director, Corporate Development & Investor Relations
T: 918 359-8249  |  Email: [email protected]

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release.



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IonQ and CMC Microsystems Announce Collaboration to Expand Cloud Quantum Computing Access in Canada

IonQ and CMC Microsystems Announce Collaboration to Expand Cloud Quantum Computing Access in Canada

MOU establishes IonQ as a listed provider for the FABrIC Quantum Computing Sandbox, accelerating quantum research and enterprise adoption

TORONTO–(BUSINESS WIRE)–
IonQ (NYSE: IONQ), the world’s leading quantum platform company, today announced a collaboration with Canadian Microelectronics Corporation, operating as CMC Microsystems. This collaboration integrates IonQ’s commercial trapped-ion quantum computing systems into Canada’s FABrIC Quantum Computing Sandbox (QCS).

The framework for this initiative is covered under a newly signed memorandum of understanding (MOU), which designates IonQ as a listed cloud quantum computing access provider for the QCS. The QCS is operated through FABrIC, an initiative backed by funding from the Government of Canada’s Strategic Response Fund (SRF) and managed by CMC Microsystems. The program aims to strengthen the nation’s semiconductor and quantum industries by providing engineering support and cloud quantum computing access to Canadian academics and small-to-medium sized enterprises.

“Innovation moves faster when researchers and businesses can work with frontier quantum computing systems,” said Lisa Lambert, Vice President, Global Strategy & Managing Director, Canada at IonQ. “The FABrIC Quantum Computing Sandbox expands access to IonQ’s commercial technology so more Canadian researchers and businesses can start building quantum expertise and real capability now.”

“This is FABrIC’s mandate in action: pairing a leading commercial quantum computing platform with the expertise to use it, so Canadian innovators can move from access to application,” said Gordon Harling, CEO of CMC Microsystems. “That’s the outcome FABrIC was built to deliver.”

About IonQ

IonQ, Inc. [NYSE: IONQ] is the world’s leading quantum platform and foundry – delivering integrated quantum solutions across computing, networking, sensing, and security. IonQ’s newest generation of quantum computers, the IonQ Tempo, is the latest in a line of cutting-edge systems. Earlier systems have helped customers and partners including Amazon Web Services, AstraZeneca, and NVIDIA achieve a 20x performance increase over previous quantum solutions and accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity, and defense. In 2025, the company achieved 99.99% two-qubit gate fidelity, setting a world record in quantum computing performance.

Headquartered in College Park, Maryland, IonQ has operations in California, Colorado, Massachusetts, Tennessee, Washington, Italy, South Korea, Sweden, Switzerland, Canada, and the United Kingdom. Our quantum computing services are available through all major cloud providers, while we also meet the needs of networking and sensing customers across land, sea, air, and space. IonQ is making quantum platforms more accessible and impactful than ever before. Learn more at IonQ.com.

About CMC Microsystems

CMC Microsystems has been enabling advanced technology innovation in Canada for more than 40 years, managing federal and provincial investments to support research, accelerate commercialization, and strengthen Canada’s high‑tech ecosystem. With support from the Government of Canada, CMC leads FABrIC, a $217‑million initiative to build a vibrant and sustainable Canadian semiconductor ecosystem anchored by world‑class talent and global impact. www.cmc.ca | fabricinnovation.ca

IonQ Forward-Looking Statements

This news release contains forward-looking statements. All statements contained in this news release other than statements of historical fact are forward-looking statements, including statements regarding the anticipated benefits, scope, timing and outcomes of IonQ’s collaboration with CMC Microsystems; IonQ’s designation as a listed cloud quantum computing access provider for the FABrIC Quantum Computing Sandbox; the expected availability, capabilities, performance and deployment of IonQ’s quantum computing systems, including through the Quantum Computing Sandbox; expectations regarding the adoption and use of quantum computing by Canadian academic institutions, researchers and small- and medium-sized enterprises; the expected funding, continuation, scope and objectives of the FABrIC program and the Quantum Computing Sandbox; the potential applications, advantages and commercial viability of quantum computing; and IonQ’s business plans, strategy, market position and growth opportunities in Canada and globally. These statements are only predictions based on our expectations and projections about future events as of the date of this news release and are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause actual results to differ materially from those expressed or implied by such statements, including, among others, those described under the heading “Risk Factors” in our most recent filings with the Securities and Exchange Commission.

New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we make. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made.

The memorandum of understanding described in this news release establishes a non-binding framework for collaboration. It does not obligate either party to enter into any definitive agreement, or to purchase, provide or deploy any products or services, and it may be terminated by either party. There can be no assurance that the memorandum of understanding will result in any definitive agreement, revenue, or any of the other benefits described in this news release.

Except as otherwise required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

IonQ Media Contacts:

Cheryl Krauss

[email protected]

Tor Constantino

[email protected]

IonQ Investor Contact:

[email protected]

CMC Microsystems Contact:

Gordon Harling

President & CEO

CMC Microsystems

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Semiconductor Data Management Technology Other Technology Software Hardware

MEDIA:

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Solventum Reports Second Quarter 2026 Financial Results

PR Newswire

  • Reported sales increased 2.2%; organic sales increased 9.5%
  • Announces intent to separate its Health Information Systems business segment
  • Increases full-year 2026 guidance for organic sales growth, adjusted EPS and free cash flow

EAGAN, Minn., Aug. 5, 2026 /PRNewswire/ — Solventum (NYSE: SOLV) today reported financial results for the second quarter ended June 30, 2026.

Solventum Logo

Second Quarter 2026 Highlights

  • Sales of $2.2 billion, increased 2.2% on a reported basis; an increase of 9.5% on an organic basis
  • GAAP diluted earnings per share of $0.53; adjusted diluted earnings per share of $2.55, a 50.9% increase
  • Operating cash flow of $227 million; free cash flow of $144 million

“The Solventum team delivered another quarter of strong execution with results ahead of our expectations while continuing to advance our transformation,” said Bryan Hanson, chief executive officer of Solventum. “We remain on track to achieve our long-term objectives as we build a more focused, dedicated MedTech company, well-positioned to create long-term shareholder value.”


Second Quarter and First Six Months 2026 Financial Results


Three months ended June 30,


Six Months Ended June 30,


(Dollars in millions, except per share amounts)


2026


2025


Year-over-year
change


2026


2025


Year over year
change

Net sales

$      2,209

$      2,161

2.2 %

$      4,216

$      4,231

(0.4) %

Selling, general and administrative
expenses

$         927

$         772

20.1 %

$      1,754

$      1,541

13.8 %

Research and development
expenses

$         178

$         189

(5.8) %

$         367

$         381

(3.7) %

Operating income margin

8.2 %

9.9 %

 (170) bps

6.2 %

8.7 %

(250) bps

Adjusted operating income margin1

28.4 %

21.9 %

650 bps

24.2 %

20.8 %

340 bps

Net income

$           92

$           90

2.2 %

$         105

$         227

(53.7) %

Diluted earnings per
share

$        0.53

$        0.51

3.9 %

$        0.60

$        1.30

(53.8) %

Adjusted diluted earnings per share1

$        2.55

$        1.69

50.9 %

$        4.02

$        3.03

32.7 %

Net cash provided by (used in)
operating activities

$         227

$        169

34.3 %

$          38

$        198

(80.8) %

Free cash flow1

$        144

$          59

144.1 %

$       (129)

$         (21)

(514.3) %




1


Represents non-GAAP financial measure; see the “Non-GAAP Financial Measures” section for applicable information.

Discussion of Second Quarter Results

All comparisons are to the prior year period unless otherwise noted

  • Organic sales growth of +9.5% in the quarter reflects strong performance across all reportable segments, primarily driven by volume and product mix and including the expected benefit of advance orders placed ahead of ERP cutovers.
  • GAAP and adjusted gross margin both increased, driven by IEEPA tariff refund.
  • GAAP selling, general and administrative expenses increased primarily due to higher costs associated with separation activities and net legal costs. Adjusted SG&A as a percent of sales was 26.0%, a decrease of 130 bps vs. prior year.
  • GAAP operating income margin decreased, primarily driven by net legal costs, separation and restructuring costs. Adjusted operating income margin increased primarily due to a combination of IEEPA tariff refund and ERP-timing benefit.
  • Operating cash flow for the quarter was $227 million and free cash flow was $144 million, ahead of expectations driven by timing of tax payments and insurance proceeds.

Other Business and Operational Highlights

  • Announced the intent to separate its Health Information Systems business segment as part of the portfolio optimization phase of its transformation strategy. The proposed separation is expected to strengthen Solventum’s focus as a dedicated MedTech company while enabling both businesses to pursue distinct growth and innovation priorities.
  • The Solventum Foundation announced a $350,000 grant to America’s ToothFairy to expand access to oral health screenings, dental education and fluoride treatment for more than 100,000 children and caregivers in underserved communities over the next year.
  • For the second year in a row, named a Best Company to Work For by U.S. News & World Report in the categories of ‘Health Care and Research’ and ‘Midwest.’


Segment and Total Company Net Sales for Second Quarter and First Six Months*


Three months ended June 30,


Increase/(Decrease)


(Dollars in millions)


2026


2025


Reported
growth


Currency 
impact


Constant 
currency

2


Other

3


Organic
growth

Advanced Wound Care

$        537

$        467

14.9 %

1.0 %

13.9 %

6.8 %

7.1 %

Infection Prevention and
Surgical Solutions

836

750

11.3

1.2

10.1

—

10.1

MedSurg

1,372

1,218

12.7

1.1

11.6

2.7

8.9

Dental Solutions

396

338

17.0

1.8

15.2

—

15.2

Health Information Systems

354

339

4.4

0.2

4.2

(1.2)

5.4


Total reportable segment
net sales

2,122

1,895

Purification and Filtration

—

189

NM

NM

NM

NM

NM

All Other4

87

77

11.8

1.2

10.6

—

10.6

Total Company

$       2,209

$       2,161

2.2 %

1.0 %

1.2 %

(8.3) %

9.5 %


Six months ended June 30,


Increase/(Decrease)


(Dollars in millions)


2026


2025


Reported
growth


Currency
impact


Constant 
currency

2


Other

3


Organic
growth

Advanced Wound Care

$       1,034

$        915

12.9 %

1.7 %

11.2 %

6.6 %

4.6 %

Infection Prevention and
Surgical Solutions

1,573

1,460

7.7

2.2

5.5

—

5.5

MedSurg

2,607

2,375

9.7

2.0

7.7

2.6

5.1

Dental Solutions

750

667

12.5

3.1

9.4

—

9.4

Health Information Systems

696

667

4.3

0.5

3.8

(1.3)

5.1


Total reportable segment
net sales

4,053

3,709

Purification and Filtration

—

369

NM

NM

NM

NM

NM

All Other4

163

153

6.4

1.7

4.7

—

4.7

Total Company

$       4,216

$       4,231

(0.4) %

1.8 %

(2.2) %

(8.0) %

5.8 %


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum. “NM” reflects results considered not meaningful due to sale of the Purification and Filtration business in September 2025.




2



Constant currency represents the change in net sales absent the impact on sales from foreign currency translation.




3



Other represents sales impact from acquisitions and divestitures measured separately for the first 12 months post-transaction. Acquisitions include sales from the December 2025 acquisition of Acera. Divestitures primarily represents lost sales from the Company’s Purification and Filtration business that was sold in September 2025.




4



All Other includes the Drinking Water business, which was previously reported within Purification and Filtration, and sales related to product supplied to 3M and other supply agreements related to legacy 3M business and assumed by the Company at Spin-Off.

Full-Year 2026 Guidance
Solventum is updating its full year 2026 guidance as follows:

  • Increased organic sales growth range to +2.5% to +3.0% (+3.5% to +4.0% excluding ~100 bps of SKU exit impact); from prior range of +2.0% to +3.0%
  • Increased adjusted EPS range to $7.10 to $7.20; from the upper end of prior range of $6.40 to $6.60
  • Increased free cash flow to be in the range of $200 million to $300 million; from prior estimate of ~$200M

Organic sales, adjusted diluted EPS and free cash flow amounts included in Solventum’s full-year guidance are non-GAAP financial measures. Solventum does not provide reconciliations of the forward-looking non-GAAP financial measures to the respective GAAP metrics as it is unable to predict with reasonable certainty and without unreasonable effort certain items, such as the impact of changes in currency exchange rates, impacts associated with business acquisitions or divestitures, and the timing and magnitude of restructuring activities, among other items.

See the “Non-GAAP Financial Measures” section for explanations of our non-GAAP financial measures.

Earnings Conference Call
Solventum will host a conference call today, August 5, at 4:30 p.m. Eastern Time to discuss its second quarter financial results and fiscal year 2026 outlook. The conference call can be accessed via audio webcast at investors.solventum.com or by dialing (800) 715-9871 within the U.S. or +1 (646) 307-1963 for international callers, using the conference ID 6342275.

A replay of the webcast, along with the earnings press release, slides highlighting the results and supplemental financial disclosures, will also be available at the same link on the Investor Relations section of the Company’s website.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934 that are subject to risks and uncertainties. Solventum intends the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Forward-looking statements include all statements that are not historical facts, but instead represent only Solventum’s beliefs regarding future goals, plans and expectations about its prospects for the future and other events, many of which, by their nature, are inherently uncertain and outside of Solventum’s control. Forward-looking statements include those containing such words as “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “guidance,” “intends,” “may,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning in connection with any discussion of future operating or financial performance, business plans or prospects, Solventum’s review of strategic alternatives for its health information systems business, or the potential benefits of any such strategic alternatives or transaction.

Among the factors that could cause actual results to differ materially from those described in our forward-looking statements are the following: (1) whether Solventum will be able to identify or develop any strategic alternatives for Solventum’s health information systems business; (2) Solventum’s ability to execute on material aspects of any strategic alternatives that are identified and pursued; (3) whether Solventum can actually achieve the potential benefits of any strategic alternatives; (4) the occurrence of any event, change or other circumstances that could give rise to the abandonment of the review of strategic alternatives or pursuit of a different structure or strategic alternative; (5) uncertainties as to the timing of the review of strategic alternatives; (6) the effects of, and changes in, worldwide economic, political, regulatory, international, trade and geopolitical conditions, natural disasters, war, public health crises and other events beyond Solventum’s control; (7) operational execution risks; (8) damage to Solventum’s reputation or its brands; (9) risks from acquisitions, strategic alliances, divestitures and other strategic events; (10) Solventum’s business dealings involving third-party partners in various markets; (11) Solventum’s ability to access the capital and credit markets and changes in Solventum’s credit ratings; (12) exposure to interest rate and currency risks; (13) the highly competitive environment in which Solventum operates and consolidation in the healthcare industry; (14) reduction in customers’ research budgets or government funding; (15) the timing and market acceptance of Solventum’s new product and service offerings; (16) ongoing working relationships with certain key healthcare professionals; (17) changes in reimbursement practices of governments or private payers or other cost containment measures; (18) Solventum’s ability to obtain components or raw materials supplied by third parties and other manufacturing and related supply chain difficulties, interruptions and disruptive factors; (19) legal and regulatory proceedings and legal compliance risks (including third-party risks) with regards to antitrust, FCPA and other anti-bribery laws, environmental laws, anti-kickback and false claims laws, privacy laws, product liability claims, tax laws, and other laws and regulations in the United States and other countries in which Solventum operates; (20) potential liabilities related to per-and polyfluoroalkyl substances, collectively known as “PFAS”; (21) risks related to the highly regulated environment in which Solventum operates; (22) risks associated with product liability claims; (23) climate change and measures to address climate change; (24) security breaches and other disruptions to information technology infrastructure; (25) artificial intelligence risks; (26) Solventum’s failure to obtain, maintain, protect or effectively enforce its intellectual property rights; (27) pension and postretirement obligation liabilities; (28) Solventum’s separation from 3M and performance as a standalone company, including the tax-free nature of the spin and its ability to execute on its short- and long-range plans and capital allocation strategies; and (29) restructuring programs, and other risks and uncertainties described in Solventum’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

The above list is not exhaustive or necessarily set forth in the order of importance. Forward-looking statements are based on certain assumptions and expectations of future events and trends, and actual future results and trends may differ materially from historical results or those reflected in any such forward-looking statements depending on a variety of factors. A further description of these factors is located under “Cautionary Note Concerning Forward-Looking Statements” and “Risk Factors” in Solventum’s periodic reports on file with the U.S. Securities & Exchange Commission. Solventum assumes no obligation to update any forward-looking statements discussed herein as a result of new information, future events or otherwise, except as required by applicable law.

Non-GAAP Financial Measures
In addition to reporting financial results in accordance with U.S. GAAP, Solventum also provides non-GAAP measures that we use, and plan to continue using, when monitoring and evaluating operating performance and measuring cash available to invest in our business. The adjusted measures are not in accordance with, nor are they a substitute for, GAAP measures. These non-GAAP financial measures are supplemental measures of our performance and our liquidity that we believe help investors understand our underlying business performance and Solventum uses these measures as an indication of the strength of Solventum and its ability to generate cash.

Solventum calculates forward-looking non-GAAP financial measures, including organic sales growth, adjusted gross margin, adjusted operating income, adjusted operating income margin, adjusted effective tax rate, adjusted diluted earnings per share and free cash flow based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. Solventum does not provide reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable GAAP measures as it is unable to predict with reasonable certainty and without unreasonable effort certain items such as the impact of changes in currency exchange rates, impacts associated with business acquisitions or divestitures, and the timing and magnitude of restructuring activities, among other items. The timing and amounts of these items are uncertain and could have a material impact on Solventum’s results in accordance with GAAP.

The Q2 2026 financial statements and financial information, including reconciliations of non-GAAP financial measures, are available on Solventum’s website: investors.solventum.com. 

About Solventum

At Solventum, we enable better, smarter, safer healthcare to improve lives. As a new company with a long legacy of creating breakthrough solutions for our customers’ toughest challenges, we pioneer game-changing innovations at the intersection of health, material and data science that change patients’ lives for the better — while empowering healthcare professionals to perform at their best. See how at Solventum.com.

Solventum Investor Contact:

[email protected]  

Solventum Media Contact:

[email protected] 


Solventum Corporation

CONDENSED CONSOLIDATED STATEMENTS OF INCOME*

(Dollars in millions, except per-share data)
(Unaudited)


Three months ended June 30,


Six months ended June 30,


2026


2025


2026


2025

Net sales of product

$      1,698

$      1,668

$      3,211

$      3,265

Net sales of software and rentals

511

493

1,005

966

Total net sales

2,209

2,161

4,216

4,231

Cost of product

807

865

1,603

1,700

Cost of software and rentals

116

121

231

242

Gross profit

1,286

1,175

2,382

2,289

Selling, general and administrative expenses

927

772

1,754

1,541

Research and development expenses

178

189

367

381

Operating income

181

214

262

367

Interest expense, net

64

103

125

207

Other expense (income), net

9

8

13

19

Income before income taxes

108

103

123

141

Provision for (benefit from) income taxes

15

13

19

(86)

Net income

$          92

$          90

$         105

$        227

Earnings per share:

Basic earnings per share

$        0.53

$        0.52

$        0.60

$        1.31

Diluted earnings per share

0.53

0.51

0.60

1.30

Weighted-average number of shares outstanding:

Basic

172.7

174.1

173.5

173.9

Diluted

173.3

175.2

174.4

175.0


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

 


Solventum Corporation

CONDENSED CONSOLIDATED BALANCE SHEETS*

(Dollars in millions, except per-share data)
(Unaudited)


June 30,


December 31,


2026


2025


Assets

Current assets

Cash and cash equivalents

$          403

$          878

Accounts receivable — net of allowances of $82 and $87

1,310

1,034

Due from related parties

122

150

Inventories

Finished goods

573

636

Work in process

218

201

Raw materials and supplies

249

229

Total inventories

1,040

1,066

Other current assets

865

731

Total current assets

3,741

3,859

Property, plant and equipment — net

1,565

1,326

Goodwill

5,626

5,704

Intangible assets — net

2,408

2,592

Other assets

904

814

Total assets

$      14,243

$      14,294


Liabilities

Current liabilities

Short-term borrowings and current portion of long-term debt

$          506

$            —

Accounts payable

701

687

Due to related parties

331

435

Unearned revenue

596

621

Other current liabilities

1,528

1,393

Total current liabilities

3,663

3,136

Long-term debt

4,573

5,035

Pension and postretirement benefits

358

363

Deferred income taxes

157

164

Finance leases

207

—

Other liabilities

486

547

Total liabilities

$        9,443

$        9,245


Equity

Common stock, par value $0.01 per share, 750,000,000 shares authorized

$             2

$             2

Shares – June 30, 2026: issued: 174,889,899; outstanding: 170,113,551

Shares – December 31, 2025: issued and outstanding: 173,490,864

Additional paid-in capital

3,919

3,876

Retained earnings

1,902

1,797

Treasury stock, at cost

(355)

—

Shares – June 30, 2026: 4,776,348

Shares – December 31, 2025: —

Accumulated other comprehensive income (loss)

(669)

(625)

Total equity

4,800

5,049

Total liabilities and equity

$      14,243

$      14,294


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

 


Solventum Corporation

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS*

(Dollars in millions)
(Unaudited)


Six months ended June 30,


2026


2025


Cash flows from operating activities

Net income

$          105

$          227

Adjustments to reconcile net income to net cash provided by (used in) operating activities

Depreciation and amortization

268

251

Pension and postretirement benefit expense

27

32

Stock-based compensation expense

89

83

Deferred income taxes

(88)

(177)

Changes in assets and liabilities

Accounts receivable

(286)

(15)

Due from related parties

27

4

Inventories

18

(77)

Accounts payable

26

23

Due to related parties

(117)

(6)

Accrued compensation

(101)

(47)

All other operating activities — net

68

(100)

Net cash provided by operating activities

38

198


Cash flows from investing activities

Purchases of property, plant and equipment

(167)

(219)

Other — net

3

(5)

Net cash used in investing activities

(164)

(224)


Cash flows from financing activities

Repayment of debt

—

(200)

Proceeds from debt, net of issuance costs

46

—

Net transfers from (to) 3M

2

(30)

Purchases of treasury stock

(355)

—

Other — net

(44)

(19)

Net cash used in financing activities

(350)

(249)

Effect of exchange rate changes on cash and cash equivalents

1

7

Net increase (decrease) in cash and cash equivalents

(475)

(268)

Cash and cash equivalents at beginning of period

878

762

Less: Cash and cash equivalents within held for sale

—

(2)

Cash and cash equivalents at end of period

$          403

$          492


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

Solventum Corporation

BUSINESS SEGMENTS – (CONTINUED)*

(Unaudited)

The Company’s operating activities are primarily managed through three segments: MedSurg, Dental Solutions, and Health Information Systems.

  • MedSurg provides:
    • Advanced wound care products such as negative pressure wound therapy, advanced wound dressings, advanced skin care, and synthetic tissue matrices; and
    • Infection prevention and surgical solutions products, such as I.V. site management, sterilization assurance, temperature management, surgical supplies, medical tapes and wraps, stethoscopes, medical electrodes, and medical technologies Original Equipment Manufacturer (“OEM”).
  • Dental Solutions provides dental and orthodontic products, including brackets, aligners, restorative cements, and bonding agents that span the “life of the tooth,” including products designed for preventative dental care, direct and indirect restoration, and broad orthodontic needs.
  • Health Information Systems provides healthcare systems with software solutions — including computer-assisted physician documentation, direct-to-bill and coding automation, classification methodologies, speech recognition, and data visualization platforms — that are designed to eliminate revenue cycle waste, create more time for patient care, and support value-based care.

Purification and Filtration consists of filters and membranes for biopharmaceutical and medical technologies, as well as microelectronics and food and beverage that were reported prior to the sale of the business in September 2025.

All Other primarily consists of our drinking water filtration business that was retained after the sale of the Purification and Filtration Business. All Other also includes sales and cost of sales related to our agreements to supply 3M and other supply agreements assumed by the Company at Spin-Off related to legacy 3M businesses, which were historically included within Corporate and Unallocated.


BUSINESS
SEGMENT
INFORMATION AND DISAGGREGATED NET SALES*


Three months ended June 30, 2026


Three months ended June 30, 2025


(Dollars in millions)


Net sales


Operating
income


Operating
margin %


Net sales


Operating
income


Operating
margin %

Advanced Wound Care

$       537

$       467

Infection Prevention and Surgical
Solutions

836

750

MedSurg

1,372

$       355

25.8 %

1,218

$       210

17.3 %

Dental Solutions

396

131

33.0

338

96

28.5

Health Information Systems

354

145

41.0

339

120

35.5


Total reportable segment net
sales and operating income

2,122

631

1,895

426

Purification and Filtration

—

—

NM   

189

43

23.1

All Other

87

19

21.4

77

8

10.3

Amortization expense

(90)

(78)

Corporate and unallocated

(378)

(185)


Total Company

$     2,209

$       181

8.2 %

$     2,161

$       214

9.9 %


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

 


BUSINESS
SEGMENT
INFORMATION AND DISAGGREGATED NET SALES*


Six Months Ended

June 30, 2026


Six Months Ended

June 30, 2025


(Dollars in millions)


Net Sales


Operating
Income


Operating
Margin %


Net Sales


Operating
Income


Operating
Margin %

Advanced Wound Care

$     1,034

$       915

Infection Prevention and Surgical
Solutions

1,573

1,460

MedSurg

2,607

$       516

19.8 %

2,375

416

17.5 %

Dental Solutions

750

218

29.0

667

175

26.2

Health Information Systems

696

276

39.6

667

229

34.3


Total reportable segment net
sales and operating income

4,053

1,009

3,709

820

Purification and Filtration

—

—

NM   

369

70

19.2

All Other

163

30

18.6

153

19

12.7

Amortization Expense

(181)

(159)

Corporate and Unallocated

(597)

(384)


Total Company

$     4,216

$       262

6.2 %

$     4,231

367

8.7 %


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

Solventum Corporation

SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP MEASURES

(Unaudited)

In addition to reporting financial results in accordance with U.S. GAAP, the Company uses non-GAAP financial measures to supplement the financial measures prepared in accordance with U.S. GAAP. These include (1) adjusted gross margin, adjusted operating income and adjusted operating income margin, (2) adjusted diluted earnings per share, and (3) free cash flow. Management believes that these non-GAAP financial measures are useful in evaluating current performance and focusing management on our underlying operational results.

There are limitations to the use of the non-GAAP financial measures presented in this information statement. These non-GAAP financial measures are not prepared in accordance with U.S. GAAP nor do they have any standardized meaning under U.S. GAAP. In addition, other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to such similarly titled non-GAAP financial measures used by other companies. Management cautions you not to place undue reliance on these non-GAAP financial measures, but instead to consider them with the most directly comparable U.S. GAAP measure. These non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation. These non-GAAP financial measures should be considered supplements to, not substitutes for, or superior to, the corresponding financial measures calculated in accordance with U.S. GAAP.

The tables below reconcile our non-GAAP financial measures to the nearest financial measure that is in accordance with U.S. GAAP for the periods presented.

Adjusted Gross Margin, Adjusted Operating Income, Adjusted Operating Income Margin and Adjusted Earnings Per Share (Non-GAAP measures)

Adjusted gross margin, adjusted operating income and adjusted operating income margin are not defined under U.S. GAAP. Therefore, they should not be considered a substitute for earnings data prepared in accordance with U.S. GAAP and may not be comparable to similarly titled measures used by other companies. Solventum defines adjusted gross margin as gross margin excluding the effects of restructuring costs, Spin-Off and separation-related costs, separation-related impacts due to the sale of the Purification and Filtration business, and acquisition-related costs. Solventum defines adjusted operating income as operating income excluding the effects of amortization, restructuring costs, Spin-Off and separation-related costs, certain litigation-related costs, separation-related impacts due to the sale of the Purification and Filtration business, acquisition-related costs and costs related to the planned separation of the Health Information Systems business. Adjusted operating income margin is adjusted operating income divided by the U.S GAAP measure total net sales for the same period. The Company believes adjusted gross margin, adjusted operating income and adjusted operating income margin provide investors with visibility into the Company’s unleveraged, pre-tax operating results and reflects underlying financial performance. However, adjusted gross margin and adjusted operating income should not be construed as inferring that the Company’s future results will be unaffected by the items for which the measure adjusts.

Adjusted diluted earnings per share is not defined under U.S. GAAP. Therefore, it should not be considered a substitute for earnings data prepared in accordance with U.S. GAAP and may not be comparable to similarly titled measures used by other companies. Solventum defines adjusted diluted earnings per share as net income excluding the after-tax effects of amortization, restructuring costs, Spin-Off and separation-related costs, certain litigation-related costs, separation-related impacts due to the sale of the Purification and Filtration business, acquisition-related costs and costs related to the planned separation of the Health Information Systems business. The Company believes adjusted earnings per share provides investors with improved comparability of underlying operating results and a further understanding and additional transparency regarding how the Company evaluates the business. However, adjusted earnings per share should not be construed as inferring that the Company’s future results will be unaffected by the items for which the measure adjusts.


Solventum Corporation

SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP MEASURES – (CONTINUED)*

(Unaudited)


Three months ended June 30, 2026


(Dollars in millions, except per
share amounts)


Net sales


Cost of
sales

5


Gross
margin %


Operating
expenses

6


Operating
income


Operating
income
margin %


Non-operating
expense
(income), net

7


Income
before
income
taxes


Net income
attributable
to Solventum


Diluted
EPS


Effective
tax rate


GAAP

$  2,209

$   923

58.2 %

$  1,105

$   181

8.2 %

$     73

$   108

$      92

$   0.53

14.4 %

 Non-GAAP adjustments:

Amortization of acquisition-
related intangible assets

—

—

—

(90)

90

4.1

—

90

76

0.44

Restructuring costs (a)

—

(9)

0.4

(33)

42

1.9

—

42

32

0.18

3M spin-off and separation-
related costs (b)

—

(33)

1.5

(112)

145

6.6

—

145

114

0.65

Certain litigation-related 
costs (c)

—

—

—

(157)

157

7.1

—

157

119

0.69

Purification and Filtration 
separation-related (d)

—

1

—

7

(8)

(0.4)

—

(8)

(6)

(0.04)

Acquisition-related costs(e)

—

—

—

(15)

15

0.7

—

15

11

0.07

Planned separation of 
Health Information Systems-
related (f)

—

—

—

(6)

6

0.3

—

6

4

0.03


Non-GAAP

$  2,209

$   881

60.1 %

$    701

$   627

28.4 %

$     73

$   554

$     442

$   2.55

20.2 %


*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

 


Three months ended June 30, 2025


(Dollars in millions, except per
share amounts)


Net sales


Cost of
sales

5


Gross
margin %


Operating
expenses

6


Operating
income


Operating
income
margin %


Non-operating
expense
(income), net

7


Income
before
income
taxes


Net income
attributable
to Solventum


Diluted
EPS


Effective
tax rate


GAAP

$  2,161

$   986

54.4 %

$    961

$   214

9.9 %

$   111

$   103

$      90

$   0.51

12.5 %

  Non-GAAP adjustments:

 Amortization of acquisition-
 related intangible assets

—

—

—

(78)

78

3.6

—

78

67

0.38

 Restructuring costs (a)

—

(1)

0.1

(7)

8

0.5

—

8

6

0.03

 3M spin-off and separation-
 related costs (b)

—

(33)

1.5

(117)

150

6.9

—

150

115

0.66

 Certain litigation-related
 costs (c)

—

—

—

(8)

8

0.4

—

8

6

0.03

 Purification and Filtration
 separation-related (d)

—

—

—

(15)

15

0.7

—

15

12

0.07


Non-GAAP

$  2,161

$   952

56.0 %

$    736

$   474

21.9 %

$   111

$   362

$     296

$   1.69

18.3 %


*

Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

(a)

2026 restructuring costs primarily related to the Company’s Transform for the Future program. Includes employee termination costs of $11 million and other costs of $31 million, which includes third-party consulting, asset write-downs and compensation for employees dedicated to the program. 2025 restructuring costs primarily relate to the Company’s Solventum Way program. Includes employee termination costs of $9 million and other costs of $(1) million.

(b)

Consists of costs specifically incurred in connection with the Company’s separation from 3M.

(c)

Consists of charges and recoveries related to certain litigation matters.

(d)

2026 activity consists of the profit mark-up from transition support services. 2025 activity consists of costs related to and tax impacts from the separation of the Company’s Purification and Filtration business, including legal, finance and tax advisory.

(e)

Integration costs related to the acquisition of Acera Surgical, including amortization of inventory step-up.

(f)

Costs related to the planned separation of the Company’s Health Information Systems business.


5

Cost of sales is the combination of cost of product and cost of software and rentals line items from the Condensed Consolidated Statements of Income and represents the total Company’s cost of sales.


6

Operating expenses is the combination of selling, general and administrative expenses and research and development expenses from the Condensed Consolidated Statements of Income and represents the total Company’s other operating expenses.


7

Non-operating expense (income), net is the combination of interest expense, net, and other expense (income), net line items from the Condensed Consolidated Statements of Income and represents the total Company’s non-operating expense.

 

Solventum Corporation
SUPPLEMENTAL FINANCIAL INFORMATION
NON-GAAP MEASURES – (CONTINUED)*
(Unaudited)


Six months ended June 30, 2026


(Dollars in millions, except per share amounts)


Net sales


Cost
of Sales

5


Gross
Margin %


Operating
Expenses

6


Operating
Income


Operating 
Income
Margin %


Non-Operating
Expense
(Income), net

7


Income
Before
Income
Taxes


Net Income
Attributable to
Solventum


Diluted
EPS


Effective
Tax Rate


GAAP

$ 4,216

$ 1,833

56.5 %

$  2,121

$   262

6.2 %

$ 138

$ 123

$     105

$   0.60

15.0 %

 Non-GAAP Adjustments:

 Amortization of acquisition-
 related intangible assets

—

—

—

(181)

181

4.3

—

181

152

0.87

 Restructuring costs (a)

—

(10)

0.2

(73)

82

2.0

—

82

63

0.36

 3M spin-off and separation-
 related costs (b)

—

(64)

1.5

(244)

308

7.3

—

308

241

1.38

 Certain litigation-related
 costs (c)

—

—

—

(171)

171

4.0

—

171

129

0.74

 Purification and Filtration
 separation-related (d)

—

2

—

10

(12)

(0.3)

—

(12)

(9)

(0.05)

 Acquisition-related costs(e)

—

(4)

0.1

(17)

21

0.5

—

21

16

0.09

 Planned separation of
 Health Information Systems-related (f)

—

—

—

(6)

6

0.1

—

6

4

0.02


Non-GAAP

$ 4,216

$ 1,755

58.4 %

$  1,441

$  1,019

24.2 %

$ 138

$ 881

$     702

$   4.02

20.3 %

*


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

 


Six months ended June 30, 2025


(Dollars in millions, except per share amounts)


Net sales


Cost of
Sales

5


Gross
Margin %


Operating
Expenses

6


Operating
Income


Operating
Income
Margin %


Non-Operating
Expense
(Income), net

7


Income
Before
Income
Taxes


Net Income
Attributable to
Solventum


Diluted
EPS


Effective
Tax Rate


GAAP

$  4,231

$  1,942

54.1 %

$  1,922

$   367

8.7 %

$   226

$   141

$     227

$   1.30

(61.0) %

 Non-GAAP Adjustments:

 Amortization of acquisition-
 related intangible assets

—

—

—

(159)

159

3.7

—

159

135

0.77

 Restructuring costs (a)

—

(11)

0.3

(15)

26

0.6

—

26

20

0.11

 3M spin-off and separation-
 related costs (b)

—

(60)

1.4

(210)

272

6.4

—

272

209

1.20

 Certain litigation-related
 costs (c)

—

—

—

(27)

27

0.6

—

27

20

0.11

 Purification and Filtration
 separation-related (d)

—

—

—

(31)

31

0.7

—

31

(80)

(0.46)


Non-GAAP

$  4,231

$  1,871

55.8 %

$  1,480

$   881

20.8 %

$   226

$   655

$     530

$   3.03

19.0 %


*

Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

(a)

2026 restructuring costs primarily relate to the Company’s Transform for the Future program. Includes employee termination costs of $16 million and other costs of $66 million, which includes third-party consulting, asset write-downs and compensation for employees dedicated to the program. 2025 restructuring costs primarily related to the Company’s Solventum Way program. Includes employee termination costs of $23 million and other costs of $3 million.

(b)

Consists of costs specifically incurred in connection with the Company’s separation from 3M.

(c)

Consists of charges and recoveries related to certain litigation matters.

(d)

2026 activity consists of the profit mark-up from transition support services. 2025 activity consists of costs related to and tax impacts from the separation of the Company’s Purification and Filtration business, including legal, finance and tax advisory.

(e)

Integration costs related to the acquisition of Acera Surgical, including amortization of inventory step-up.

(f)

Costs related to the planned separation of the Company’s Health Information Systems business.


5

Cost of sales is the combination of cost of product and cost of software and rentals line items from the Consolidated Statements of Income and represents the total Company’s cost of sales.


6

Operating expenses is the combination of selling, general and administrative expenses and research and development expenses from the Consolidated Statements of Income and represents the total Company’s other operating expenses.


7

Non-operating expense (income), net is the combination of interest expense, net, loss on debt extinguishment, net, and other expense (income), net line items from the Consolidated Statements of Income and represents the total Company’s non-operating expense.

Solventum Corporation
SUPPLEMENTAL FINANCIAL INFORMATION
NON-GAAP MEASURES – (CONTINUED)*
(Unaudited)

Free Cash Flow (non-GAAP measure):

Free cash flow is not defined under U.S. GAAP. Therefore, it should not be considered a substitute for income or cash flow data prepared in accordance with U.S. GAAP and may not be comparable to similarly titled measures used by other companies. The Company defines free cash flow as net cash provided by (used in) operating activities less purchases of property, plant and equipment. It should not be inferred that the entire free cash flow amount is available for discretionary expenditures. The Company believes free cash flow is meaningful to investors as it is a useful measure of liquidity and the Company uses this measure as an indication of the strength of the Company and its ability to generate cash. Free cash flow varies across quarters throughout the year. Below find a recap of free cash flow.

(Dollars in millions)


Three months ended June 30,


Six months ended June 30,


Major GAAP cash flow categories


2026


2025


2026


2025

Net cash provided by operating activities

227

169

38

198

Net cash used in investing activities

(87)

(110)

(164)

(224)

Net cash used in financing activities

(300)

(110)

(350)

(249)


Free cash flow (non-GAAP measure)

Net cash provided by operating activities

227

169

38

198

Purchases of property, plant and equipment

(83)

(110)

(167)

(219)

Free cash flow

144

59

(129)

(21)

 *


Data in the schedule above is intentionally rounded to the nearest million and, therefore, may not sum.

 

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SOURCE Solventum

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Abundia Global Impact Group Announces Completion of Newly Constructed Facility to Allow Business Expansion of Recently Acquired Subsidiary RPD Technologies

Completes a key milestone that provides RPD with the resources it needs for expansion and strengthens Abundia’s commercial strategy by diversifying revenue opportunities

HOUSTON, TX, Aug. 04, 2026 (GLOBE NEWSWIRE) — Abundia Global Impact Group, Inc. (NYSE American: AGIG) (“Abundia” or the “Company”), a low-carbon energy solutions company focused on converting biomass and plastics waste into high-value low-carbon fuels, today announces the completion of its newly constructed engineering and commercial scale-up facility for its subsidiary, RPD Technologies Americas, LLC (“RPD”), which was acquired by Abundia in April 2026. The completion of the facility demonstrates steady execution and progress in Abundia’s commercialization strategy.

“Moving RPD’s operations to the new facility was always part of our vision to drive additional value to Abundia and our shareholders, allowing RPD to expand into larger projects and target increased revenues for the combined company,” said Ed Gillespie, Abundia Chief Executive Officer. “When we evaluated the RPD opportunity, we concluded that it would give the company and its shareholders a dual approach towards profitability. On the one hand, we have our core renewable energy project moving steadily towards development and when it comes online will generate significant profitable revenue, and with RPD, we are expanding a more traditional, organic growth opportunity that is generating revenue in parallel.”

Peter Loezos, Chief Executive Officer of RPD Technologies, added, “This facility represents a significant milestone for RPD and expands our ability to help customers move innovative technologies from development to commercial deployment. With enhanced engineering, fabrication, assembly, commissioning, and pilot-and demonstration-scale capabilities in a single location, we can support larger and more complex projects while reducing execution risk and accelerating technology scale-up. The expanded facility positions RPD to serve a broader range of customers and further strengthens our role as a trusted partner for first-of-a-kind process technologies.”

Designed according to the highest industrial standards, the new facility substantially expands RPD’s engineering, fabrication, pilot plant, demonstration unit and process development capabilities, attracting a broader base of customers. The facility positions RPD to compete for larger and more complex projects, broadening opportunities to meet the company’s growth strategy. Although RPD Technologies operates as a stand-alone business serving a broad range of third-party customers, the new facility also strengthens Abundia’s long-term growth by providing a centralized engineering and technology scale-up center. The facility provides the infrastructure necessary to develop, validate and optimize advanced process technologies supporting the Company’s future commercial renewable fuels platform, while maintaining appropriate protection for RPD customers and their intellectual property.

About Abundia Global Impact Group, Inc.

Abundia Global Impact Group, Inc. (NYSE American: AGIG), a low-carbon energy company focused on converting waste into value. Headquartered in Houston, Texas, Abundia is developing commercial-scale facilities that transform waste plastics and biomass into drop-in fuels and low-carbon chemical feedstocks. The flagship project at Cedar Port positions Abundia at the center of the Gulf Coast’s energy and chemical infrastructure, with access to feedstock supply chains, upgrading partners, and end markets.

For more information, please visit www.abundiaimpact.com.

About RPD Technologies Americas, LLC

RPD Technologies Americas, LLC, (“RPD Technologies”) a subsidiary of Abundia Global Impact Group, Inc. (NYSE American: AGIG), is a project development and engineering company specializing in the design, construction, operation and scale-up of pilot plants and demonstration facilities for the refining, petrochemical, energy and low-carbon industries. Headquartered in Baytown, Texas, RPD provides turnkey engineering solutions that help customers accelerate the commercialization of new technologies, from concept and pilot testing through demonstration and scale-up.

For more information, please visit www.rpdtechnologies.com

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information generally is accompanied by words such as “believe,” “may,” “will,” “could,” “intend,” “expect,” “plan,” “predict,” “potential” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) the inherent uncertainties associated with business strategy and ongoing operations, the Company’s current liquidity positions, the Company’s ability to maintain the listing of its common stock on NYSE American, the Company’s ability to predict its rate of growth, and (ii) other risks as set forth from time to time in the Company’s filings with the SEC.

Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond the control of the Company.

With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing the Company’s business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Investors:

CORE IR
[email protected]