Market Newsdesk

Teledyne FLIR Defense Wins $35+ Million Surveillance System Contract for Reconnaissance Vehicles

Delivery of TacFLIR 280-HDEP systems will provide advanced situational awareness, target identification, and other recon capabilities

Third award this year for technology integration on armored vehicles in Europe

Agreement with WB Group in Poland builds on years of collaboration to improve warfighter mission success and safety

THOUSAND OAKS, Calif.–(BUSINESS WIRE)–
Teledyne Technologies Incorporated (NYSE:TDY) announced today that Teledyne FLIR Defense has been awarded a contract worth more than $35 million by WB Electronics S.A. (part of the WB Group) to equip reconnaissance vehicles with TacFLIR® 280-HDEP medium range multi-spectral surveillance systems.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260415144990/en/

Designed for a wide range of land missions, TacFLIR 280-HDEP delivers best-in-class daylight and thermal imagery, along with powerful video processing and Aided Target Recognition (AiTR) capability. The advanced sensor system has been field-tested in Europe for nearly a decade, proving its effectiveness and reliability in harsh environments.

“The integration of TacFLIR 280-HDEP into the reconnaissance vehicles is a testament to our years-long collaboration with WB Electronics,” said Dr. JihFen Lei, president of Teledyne Defense and Aerospace. “By providing warfighters the clearest picture of the battlefield through superior EO/IR imagery and intelligent tracking, TacFLIR technology will enhance situational awareness for military forces while reducing operator risk.”

The contract win is Teledyne FLIR Defense’s third announcement this year involving an armored vehicle program in Europe. In February, the company reported that its Black Hornet 4 nano-drone would be digitally integrated on Switzerland’s Piranha 8×8 vehicles to stream live video and target data to commanders and crew. In January, FLIR Defense said it would provide long-range thermal imaging sights and radars for Bulgaria’s new Stryker vehicles. In total, the three contracts are valued at more than $85 million.

TacFLIR 280-HDEP is designed and built by Teledyne FLIR Defense in Billerica, Massachusetts.

About Teledyne FLIR Defense

Teledyne FLIR Defense has been providing advanced, mission-critical technology and systems for more than 45 years. Our products are on the frontlines of the world’s most pressing military, security and public safety challenges. As a global leader in thermal imaging, we design and build sophisticated surveillance sensors for air, land and maritime use. We develop the most rugged, trusted unmanned air and ground platforms, as well as intelligent sensing devices used to detect chemicals, biological agents, radiation and explosives. At Teledyne FLIR Defense we bring together this expertise to deliver solutions that enable critical decisions and keep our world safe – from any threat, anywhere. To learn more, visit us online or follow @flir and @flir_defense.

About Teledyne Technologies

Teledyne Technologies is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, the United Kingdom, Canada, and Western and Northern Europe. For more information, visit Teledyne’s website at www.teledyne.com.

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Media Contact:

Joe Ailinger, Jr.

Teledyne Defense and Aerospace

Email: [email protected]

KEYWORDS: California District of Columbia Europe United States Poland North America

INDUSTRY KEYWORDS: Technology Photography Engineering Aerospace Manufacturing Military Public Policy/Government Drones Defense Software Contracts Hardware State/Local Government Technology

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Teledyne FLIR Defense has been awarded a contract worth more than $35 million by WB Electronics S.A. (part of the WB Group) to equip reconnaissance vehicles with TacFLIR® 280-HDEP medium range multi-spectral surveillance systems. Designed for a wide range of land missions, TacFLIR 280-HDEP delivers best-in-class daylight and thermal imagery, along with powerful video processing and Aided Target Recognition (AiTR) capability. The advanced sensor system has been field-tested in Europe for nearly a decade, proving its effectiveness and reliability in harsh environments.

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Exclusive Toll Brothers community offers luxury homes with expansive backyards and award-winning designs

Global Technology Services Market Surges to New, AI-Fueled High in Q1: ISG Index™

Combined market ACV up 29%, to record $39.4 billion, powered by AI-driven growth in cloud services as demand for managed services remained steady

ISG increases 2026 XaaS growth forecast to 25%, maintains managed services forecast at 2.1%

New ISG AI Index™, measuring AI’s impact on tech services, up 77% since end of 2022

STAMFORD, Conn.–(BUSINESS WIRE)–
The global technology services market surged to a new record in the first quarter as enterprises accelerated their AI adoption and continued to seek cost savings, the latest state-of-the industry report from Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, finds.

Data from the global ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show first-quarter ACV for the combined global market (both managed services and cloud-based software and infrastructure services) reached a record $39.4 billion, up 29 percent year over year, its highest growth rate in four years. It was the seventh consecutive quarter of double-digit, year-over-year growth for the combined market, a period that averaged nearly 20 percent growth per quarter. In dollar terms, the combined market added nearly $9 billion of ACV year over year and roughly $4.5 billion (or 13 percent) versus the fourth quarter.

“The headline numbers point to a market that is still expanding, but the underlying drivers are very different across the two major segments,” said Steve Hall, chief AI officer of ISG. “On the managed services side, demand remained steady, supported by larger, cost-focused transactions, while discretionary activity continued to lag. On the cloud side, the as-a-service market delivered another record quarter, driven by exceptionally strong demand for AI as enterprises now focus on moving beyond pilots to large-scale deployments.”

New ISG AI Index™ Launched

In a separate press release today, ISG announced the launch of its ISG AI Index™, a first-of-its-kind benchmark that measures how AI is impacting the global technology and business services sector. The initial findings, presented during today’s ISG Index call, show that infrastructure-as-a-service (IaaS) has seen the greatest impact from AI, up 160 percent. Software as-a-service (SaaS) has risen 53 percent while managed services is up only slightly, at 0.3 percent. On a market-weighted basis, the composite ISG AI Index was up 77 percent since inception, dating to December 2022, just after the launch of ChatGPT 3.0 and the start of the current AI era. Further details are available here and by viewing the replay and presentation from today’s call.

First-Quarter Results by Segment

The cloud-based as-a-service (XaaS) market soared 44 percent, to a record $28.2 billion, its highest year-over-year growth rate in more than four years—since the fourth quarter of 2021, when ACV rose 55 percent. This extended to seven XaaS’s streak of year-over-year, double-digit growth quarters, during which time quarterly growth averaged 30 percent. Sequentially, XaaS was up 18 percent from the fourth quarter of 2025.

The majority of XaaS growth in the first quarter came from IaaS, which was up 57 percent year over year, to a record $23.1 billion. SaaS, meanwhile, rose 5 percent, to a record $5.1 billion.

“Enterprises continue to increase their spending on cloud infrastructure, driving hyperscalers to invest upwards of $600 billion this year on new data center capacity to keep up with AI demand,” Hall said. “The XaaS market also saw continued resilience in enterprise software demand, despite fears of AI-fueled disruption.”

Managed services returned to growth and had its second-best quarter ever, with ACV of $11.2 billion, up 3 percent versus the prior year after two straight quarters of year-over-year declines. Still, 18 of the last 21 quarters have trended positive, ISG noted.

Within managed services, IT outsourcing (ITO) slumped 7 percent from last year, to $7.9 billion of ACV, although it was up 1.2 percent from the fourth quarter. Most areas of ITO were down, with the exception of full ITO (ADM and infrastructure) and end user computing (EUC) services. Standalone application development and maintenance (ADM), the largest area of ITO, was down 20 percent.

In the business process outsourcing (BPO) segment, ACV soared 62 percent against a weak first quarter last year, to $2.5 billion, and was up 12 percent sequentially from the fourth quarter. It was the second straight quarter that BPO generated ACV of more than $2 billion, marking its strongest year-over-year growth in four years. Growth was led by industry-specific, facilities management and HR services, while contact center services declined nearly 30 percent.

Engineering services, meanwhile, continued a five-quarter streak of ACV over $800 million, but was flat year over year and down almost 9 percent on a sequential basis. The volume of deals in the engineering space rose 5 percent in the first quarter, with double-digit growth in Europe.

By industry, managed services spending was led by retail, telecommunications and media, and the travel and transportation segments. However, spending by the two largest industries for outsourcing—banking, financial services and insurance (BFSI) and manufacturing—was down.

A total of 744 managed services contracts were awarded in the first quarter, up 0.8 percent from last year. Included in that total were six mega-deals valued at $100 million or more, even with the prior year, although the ACV of the 2026 mega deals was up 22 percent. At the other end of the spectrum, smaller deal activity moderated from its surge in the third quarter last year, with the volume of deals in the $5 million to $10 million range down slightly from last year, marking the fourth time in the last five quarters this segment has declined.

In terms of deal type, new-scope volume rose 11 percent, with ACV up 20 percent, to $8.0 billion, while the volume and ACV of restructured contracts were down 19 percent and 24 percent, respectively, versus the prior year.

2026 Forecast

ISG said it is raising its full-year forecast for XaaS revenue growth to 25 percent, up 400 basis points from its January forecast, and is holding its managed services growth forecast at 2.1 percent for the year.

Commenting on the revised XaaS forecast, Hall said, “The market continues to be driven by XaaS spending, as the hyperscalers pour hundreds of billions of dollars into capacity to meet AI-driven infrastructure demand. SaaS is holding up better than expected. Despite the disruption noise, enterprises are still investing in core platforms. What’s changing is the narrative. The market is starting to question what these businesses look like in an AI-first world, and that’s showing up more in valuations than in bookings, at least for now.”

Regarding ISG’s managed services forecast, Hall said, “Managed services is steady, but it’s still a defensive story. Enterprises are consolidating vendors, bundling towers and taking cost out to fund AI. Demand has shifted from small, discretionary spend, to large, cost-driven TCO deals, with BPO a clear bright spot, particularly in industry-specific and back-office processes. These are among the first areas where AI and automation are starting to translate into tangible demand.”

Commenting on the AI market, Hall said enterprises have moved beyond experimentation and are trying to scale. “This is driving infrastructure demand, reshaping deal structures, and starting to change how services are bought. But it’s not a clean transition,” Hall said. “There’s still friction around data, governance and trust. And until those get worked through, you’re not going to see AI fully translate into broad-based services growth.

“We’re effectively in the infrastructure phase of the AI cycle today. That’s where the value is being created first. We expect software to benefit next as applications adapt, and only after that stabilizes do we expect to see services fully participate, similar to how the cloud cycle played out.”

About the ISG Index™

The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 94 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media.

The 1Q26 Global ISG Index results were presented during a webcast today. To view a replay of the webcast and download presentation slides, visit this webpage.

About ISG

ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data and research, in-depth knowledge and governance of provider ecosystems, and the expertise of its 1,500 professionals worldwide working together to help clients maximize the value of their technology investments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416567991/en/

Press Contacts:


Will Thoretz, ISG

+1 203 517 3119

[email protected]

Eric Arvidson, Matter Communications for ISG

+1 978-518-4542

[email protected]

KEYWORDS: Connecticut United States North America

INDUSTRY KEYWORDS: Consulting Data Management Technology Professional Services Security Other Technology Software Artificial Intelligence Networks Internet Electronic Design Automation

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PPG Board of Directors announce quarterly dividend of 71 cents per share

PITTSBURGH–(BUSINESS WIRE)–
The Board of Directors of PPG (NYSE:PPG) today declared a regular quarterly dividend of 71 cents per share, payable June 12 to shareholders of record May 11.

Through the ongoing dedication and engagement of its workforce, PPG has raised its annual dividend payment for 54 consecutive years and has paid uninterrupted annual dividends since 1899. This marks the company’s 511th consecutive dividend payment.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260415152602/en/

Media Contact:

Greta Edgar Borza

Corporate Communications

+1 724 316 7552

[email protected]

Investor Contact:

Alex Lopez

Investor Relations

+1 412 434 3466

[email protected]

investor.ppg.com

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Packaging Engineering Chemicals/Plastics Automotive Manufacturing Other Retail Aerospace Other Construction & Property Manufacturing Residential Building & Real Estate Commercial Building & Real Estate Construction & Property Specialty Building Systems Interior Design Architecture Retail Finance Accounting Professional Services Home Goods Other Manufacturing Textiles

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NMG Announces Closing of US$96.5 Million Equity Public Offering

MONTRÉAL–(BUSINESS WIRE)–
As part of the financing package for the phased development of the commercial operations of its Matawinie Mine (“Phase-2 Matawinie Mine”), Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX: NOU) closed today its previously announced bought deal public offering of 52,440,000 subscription receipts (the “Subscription Receipts”), which includes the exercise in full of the over-allotment option, at a price of US$1.84 per Subscription Receipt, for gross proceeds to the Company of approximately US$96.5 million (the “Offering”).

The Subscription Receipts will begin trading today on the Toronto Stock Exchange under the symbol “NOU.R.U”.

Each Subscription Receipt represents the right to receive, for no additional consideration and without further action, one Common Share upon satisfaction of certain release conditions, including the completion of the previously announced concurrent private placement of approximately US$213 million (the “Private Placement”) which is conditional upon, among other things, receipt of the shareholder approvals for the Private Placement (collectively, the “Release Conditions”). The gross proceeds from the Offering (less 50% of the Underwriters’ Fee (as defined below)) has been deposited and will be held in escrow pending the satisfaction of the Release Conditions. The Private Placement is expected to close on or about May 15, 2026, and will occur immediately prior to the issuance of the Common Shares underlying the Subscription Receipts issued in the Offering.

The Offering was conducted on a bought deal basis through a syndicate of underwriters (the “Underwriters”) led by BMO Capital Markets and National Bank Capital Markets (the “Bookrunners”). In consideration for the services rendered by the Underwriters, the Company has agreed to pay the Underwriters a cash fee equal to 5% of the gross proceeds of the Offering (the “Underwriters’ Fee”).

Together with the previously announced senior project debt facilities of US$335 million commitment (the “Facilities”) and on the basis of accessing the Facilities committed, the net proceeds from the equity financing, once available to the Company, are expected to fully fund the Phase‑2 Matawinie Mine and position NMG to advance toward final investment decision (“FID”) and construction. The Company intends to use the net proceeds from the Offering and the Private Placement, and the funds available under the Facilities for funding the design, engineering and construction of the Phase-2 Matawinie Mine, and for general and administrative expenses and general working capital of the Company.

If (i) the Release Conditions are not satisfied prior to 5:00 p.m. (Montréal time) on July 31, 2026; (ii) a “termination event” occurs, as such term is defined in the subscription receipt agreement to be entered into between NMG and the subscription receipt agent, or (iii) the Company has advised the Bookrunners and the subscription receipt agent or announced to the public that it does not intend to proceed with obtaining the shareholder approvals or completing the Private Placement (the date on which the earliest any such termination event occurs, the “Termination Date”), holders of Subscription Receipts will receive the full purchase price of the Subscription Receipt, together with their pro rata portion of income (including interest) generated thereon, calculated from the date of the closing of the Offering and up to but excluding the Termination Date (less any applicable withholding taxes). Fifty percent (50%) of the Underwriters’ Fee has been paid and remitted to the Underwriters, and the remaining fifty percent (50%) will be paid upon, and subject to, the satisfaction of the Release Conditions.

In connection with the Offering, the Company has filed a prospectus supplement (a preliminary supplement followed by a final supplement) which has been filed in all provinces of Canada (excluding the territories) (the “Prospectus Supplements”) to the short form base shelf prospectus of the Company dated December 5, 2025 (the “Base Shelf Prospectus”) and the Company’s United States registration statement on Form F-10, as amended (File No. 333-291778) (the “Registration Statement”) filed with the United States Securities and Exchange Commission (the “SEC”) under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), pursuant to the multijurisdictional disclosure system. The final Prospectus Supplements filed in Canada (together with the related Base Shelf Prospectus) are available on SEDAR+ at www.sedarplus.ca. The final Prospectus Supplements filed in the United States (together with the Base Shelf Prospectus) are available on the SEC’s website EDGAR at www.sec.gov. Copies of the Prospectus Supplements, the corresponding Base Shelf Prospectus and any amendment to the documents may be obtained, without charge, from the Company, or in Canada from BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at [email protected], and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by telephone at (800) 414-3627 or by email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction. The securities being offered and the contents of this press release have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the Prospectus Supplement, the Base Shelf Prospectus or the Registration Statement.

About Nouveau Monde Graphite

Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral advanced graphite materials. The Company is developing in Québec, Canada, a fully integrated ore-to-processed-graphite value chain to serve tomorrow’s industries in energy, advanced technology, and manufacturing. With recognized ESG standards and structuring partnerships with major customers, NMG is set to become a strategic supplier of advanced materials to leading specialized manufacturers while promoting sustainability, innovation, and supply chain traceability. www.NMG.com

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CautionaryNoteRegardingForward-LookingInformation

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “forward-looking statements”), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management’s expectations and assumptions regarding the Company’s growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to the Company’s ability to successfully execute definitive agreements in respect of the Facilities, on the terms and conditions described herein and/or set forth in the commitment letter or at all, completion of due diligence by the providers of the Facilities, the expected use of proceeds from the Offering, the satisfaction of closing conditions with respect to the Private Placement, the receipt of the shareholder approvals for the Private Placement, the satisfaction of all of the Release Conditions under the subscription receipt agreement, the Company’s ability to secure a positive FID for the Phase-2 Matawinie Mine, the execution of the construction and the commissioning as planned and in accordance with the execution plan and strategy, the ability of all contractors and suppliers of the Company to deliver in accordance with their commitment, the receipt of all necessary regulatory approvals and stock exchange approvals, as applicable, the expected closing date of the Private Placement, the expected date for the satisfaction of the Release Conditions, the listing of the Common Shares issuable pursuant to the terms of the Subscription Receipts on the TSX and NYSE and the expected results of the initiatives described in this press release, and those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives.

Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the ability of the Company to complete the Private Placement on the terms described herein or at all, the ability of the Company to obtain the shareholder approvals, the ability of the Company to satisfy all of the closing conditions on the Private Placement, the Company’s ability to satisfy all of the Release Conditions under the subscription receipt agreement, the ability of the Company to receive all necessary regulatory and stock exchange approvals, the ability to execute the construction and the commissioning as planned and in accordance with the execution plan and strategy, are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, failure to obtain the shareholder approvals, failure to satisfy all closing conditions for the Private Placement and the Offering and failure to satisfy all of the Release Conditions pursuant to the subscription receipt agreement, failure to obtain necessary regulatory or stock exchange approvals, and delays in completing the Private Placement or the satisfaction of the Release Conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 31, 2025, including in the section thereof captioned “Risk Factors”, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260415824636/en/

MEDIA

Julie Paquet

VP Communications & ESG Strategy

+1-450-757-8905 #140

[email protected]

INVESTORS

Marc Jasmin

Director, Investor Relations

+1-450-757-8905 #993

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Mining/Minerals Natural Resources

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