The new offering will connect recreation programs and facilities with the assets and operations that support them

PHILADELPHIA, Sept. 29, 2026 /PRNewswire/ -- (NRPA Annual Conference 2026) -- OpenGov, the company powering the AI platform for local and state government, today announced its expansion into Recreation Management, building on its work with more than 400 parks and recreation agencies using OpenGov Enterprise Asset Management.

The new offering is being developed with parks and recreation professionals to connect programs, facilities, activities, and community services with the physical assets and maintenance work that support them.

"We've spent years building alongside parks and recreation teams. We see the work they do, the care they put in, and the systems challenges that slow them down," said Kate Ernst, senior vice president of marketing and general manager of Enterprise Asset Management at OpenGov. "Recreation Management connects reservations, maintenance, and programs in one platform so public servants can move faster and focus on what matters most: building stronger communities for everyone."

Built with Parks and Recreation Teams

OpenGov is working directly with parks and recreation professionals to shape capabilities and validate workflows ahead of the launch.

Facility reservations are planned as the first capability, helping residents discover facilities, view availability, and reserve spaces such as shelters, fields, and courts. Future phases are expected to support program registration, memberships, leagues, point-of-sale transactions, and related workflows. These capabilities are planned for availability by the end of 2026.

Recreation Management will be available as a standalone offering in the AI-powered OpenGov Public Service Platform. Agencies pairing it with Enterprise Asset Management will be able to connect reservations with asset records, inspections, maintenance schedules, and field work, providing a more complete view of facilities and operations without duplicating information across systems.

Help Shape What's Next at NRPA

NRPA Annual Conference attendees can visit OpenGov in the exhibit hall at booth 2009, September 29–30 at the Pennsylvania Convention Center, to learn about the Recreation Management offering, share feedback with the product team, and explore OpenGov Enterprise Asset Management.

Ready to connect programs, facility reservations, and maintenance operations in one platform? Get started at https://opengov.com/products/recreation-management/.

About OpenGov

OpenGov powers the AI platform for local and state governments across the United States. More than 2,000 cities, counties, school districts, special districts, and state agencies use OpenGov to connect finance, operations, infrastructure, and community services in one unified ecosystem, purpose-built for government. One in three people in the U.S. has better access to their government through OpenGov.

The OpenGov Public Service Platform brings together ERP and community operations including accounting, asset management, billing and revenue, budgeting, grants management, HCM, permitting, and purchasing. Powered by OG Assist, AI is embedded through the platform to help teams surface insights, complete workflows, and make better decisions faster.

Learn about OpenGov's mission to power more effective and accountable government at OpenGov.com.

SOURCE OpenGov, Inc.

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New partnership brings Clean Express to Penguins fans through first-goal free wash promotion, fan engagement and community initiatives

COLUMBUS, Ohio, and PITTSBURGH, Sept. 29, 2026 /PRNewswire/ -- Express Wash Concepts (EWC), one of the nation's leading express car wash operators, today announced a new partnership between its Clean Express Auto Wash brand and the Pittsburgh Penguins, naming Clean Express the Official Car Wash of the Pittsburgh Penguins.

The partnership expands Clean Express' growing presence throughout Western Pennsylvania and will connect the brand with Penguins fans throughout the season through in-arena and broadcast visibility, digital engagement, community initiatives and an exciting new promotion that gives fans another reason to cheer when the Penguins strike first.

The Penguins partnership further strengthens Clean Express' connection to Pittsburgh sports and its continued investment in Western Pennsylvania. With partnerships now spanning the Pittsburgh Penguins, Pittsburgh Steelers and Pittsburgh Pirates, Clean Express is building meaningful connections with fans across three of the region's most celebrated professional sports organizations.

"Pittsburgh continues to be an incredibly important growth market for Clean Express, and we're thrilled to add the Penguins to the organizations we are proud to support throughout Western Pennsylvania," said John Roush, Founder and CEO of Express Wash Concepts. "From baseball to football and now hockey, these partnerships give us an opportunity to connect with Pittsburgh fans year-round while continuing to invest in the communities we serve. We're proud to align Clean Express with organizations that share such deep connections to this region."

Penguins Score First. Pittsburgh Gets Clean.

Throughout the NHL season, Clean Express will give Penguins fans a reason to cheer even louder for the first goal at home. Whenever the Penguins score the first goal during a regular-season home game, fans can sign up to receive a FREE Clean-est Ultra wash ($28 value), redeemable the following day at any Clean Express Auto Wash location. The free wash offer is limited to one redemption per person, per season.

"Clean Express has built a strong and growing presence throughout Western Pennsylvania, and we're excited to welcome them as the Official Car Wash of the Pittsburgh Penguins," said Steve Kelley, Penguins Senior Vice President of Partnerships. "This partnership creates a fun new way for our fans to celebrate Penguins hockey while extending that experience beyond the arena. We look forward to a great partnership both at PPG Paints Arena and throughout the Pittsburgh community."

Supporting the Next Generation of Penguins Fans

The partnership will also create opportunities for Clean Express and the Penguins to connect with young hockey players and families throughout Western Pennsylvania. Clean Express will support Penguins youth hockey initiatives throughout the partnership, providing co-branded experiences and special offers that introduce young players and their families to the Clean Express brand while supporting the continued growth of hockey throughout the region.

The effort reflects EWC's ongoing commitment to its mission of Enhancing People, Communities and Cars Through the Power of Clean and creates another opportunity for Clean Express to give back to families throughout the communities it serves.

Finally, Clean Express will also have opportunities to bring the partnership to life beyond game day through fan-focused experiences and activations designed to deepen its connection with Penguins fans and the Greater Pittsburgh community.

Clean Express Deepens Its Investment in Pittsburgh

The Penguins partnership comes at a time of significant growth for Clean Express throughout Greater Pittsburgh. The Clean portfolio currently includes 59 locations across Pittsburgh, Cleveland, Detroit and Toledo, including 13 Clean Express locations serving Greater Pittsburgh today. That Pittsburgh footprint is poised for substantial growth, with seven additional locations expected to open by the end of 2026, bringing Clean Express to 20 Greater Pittsburgh locations.

Together with its partnerships with the Penguins, Steelers and Pirates, the continued expansion represents a broader investment in the Pittsburgh market — one focused not only on making Clean Express more convenient and accessible to customers, but also on becoming an active part of the sports, organizations and communities that matter to the region.

Homegrown and locally operated, Clean Express offers state-of-the-art wash technology, complimentary professional-grade vacuums and award-winning customer service, with every wash backed by a 100% satisfaction guarantee. The popular Wash Smart Unlimited Club enables members to easily clean and protect their vehicles while enjoying the convenience and value of unlimited washing across the Express Wash Concepts portfolio.

About Express Wash Concepts:

Express Wash Concepts (EWC) operates 143 award-winning express car wash locations across six states under the following brands: Moo Moo Express Car Wash, Flying Ace Express Car Wash, Clean Express Auto Wash, Green Clean Express Auto Wash and Bee Clean Express Car Wash. EWC brands feature fast, high-quality and environmentally friendly express tunnel wash experiences and free vacuums. The company's popular Wash Smart Unlimited Club packages offer members the convenience and value of truly unlimited washing at any location. For more information, please visit www.expresswashconcepts.com or view EWC's history here.

SOURCE Express Wash Concepts

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Josh Duhamel Joins STOKE Shoes as Partner, Wants Men to Stop Settling for Shoes That Don't Fit

As comfort becomes a bigger priority in everyday footwear, the actor joins STOKE Shoes as a partner to champion a category hiding in plain sight: wide-fit footwear.

GEORGES MILLS, N.H., Sept. 29, 2026 /PRNewswire/ -- Josh Duhamel has played soldiers, cops, cowboys and action heroes on screen. But one of his latest roles is considerably more relatable – the guy who just wants his shoes to fit. Today, the actor, who wears a wide width himself, joins STOKE Shoes as a brand partner, backing the sneaker brand engineered for the 97 million men in America with wide feet.

Duhamel is putting his name behind the footwear company built specifically for men who need more room, after discovering STOKE and quickly making the shoes part of his everyday rotation. He now wears STOKE both on and off set, and believes strongly enough in the brand's mission, team and vision to take his relationship with the company a step further as a partner.

"I got tired of paying over 200 bucks for sneakers that made my feet hurt. I'm on my feet all day and STOKE Shoes is the only shoe I wear. Easily the most comfortable shoe I've ever owned," Josh comments.

But Duhamel isn't joining STOKE simply because he likes the shoes. He believes in the bigger problem the company is trying to solve: men with wide feet have historically had to compromise on comfort, fit or style to find footwear that works for them. STOKE is taking a different approach, designing shoes from the ground up around wider men's feet rather than simply scaling up a standard shoe.

"Josh didn't need us to convince him to wear STOKE – he was already wearing them," said Ian Stewart, Chief Marketing Officer at STOKE Shoes. "What made this partnership perfect is that he believes in what we're building. He sees the size of the problem, believes in our team and wants to help us solve it at scale."

As part of the partnership, he will star in various social content campaigns, with the first surrounding a surprisingly universal question: Why are so many guys still wearing sneakers that don't fit?

The partnership comes as STOKE continues to challenge a footwear category that has traditionally treated width as an afterthought. The brand offers purpose-built wide and extra-wide footwear spanning E/2E through 3E/4E widths, incorporating proprietary technologies including Big Ball Girth™, Mansplay™ Midsole and PowerStack™ cushioning.

Founded in 2025 in Georges Mills, New Hampshire, STOKE Shoes is a performance-lifestyle brand built for the 75% of guys - 97 million American men - with wide feet. Since launching, the brand has expanded to more than 450 retail doors nationwide, alongside its direct-to-consumer business.

To learn about STOKE Shoes, visit www.stokeshoes.com.

About STOKE Shoes

STOKE Shoes is a performance-lifestyle brand engineered for the millions of all-American men with wide feet overlooked by the athletic footwear industry. Founded by Rick Blackshaw in 2025, Stoke builds shoes that match how real men live; with more room, more cushioning, and more honesty. The company is headquartered in New Hampshire with global manufacturing partners.

Media Contact:

Bethany Willetts | [email protected] 

SOURCE STOKE Shoes

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Businessolver research reveals a C-suite divided over whether AI should make the workforce more capable or leaner, while CIOs and CTOs are 25 points more likely than CFOs to worry that technology will outpace internal systems and workforce skills.

DENVER, Sept. 29, 2026 /PRNewswire/ -- Executives investing in AI for cost savings via headcount reduction are nearly half as likely to invest in the AI upskilling and workforce readiness needed to enable the AI efficiency they seek, according to new Businessolver research.

Among the 27% of C-suite executives who name cost savings through headcount reduction as a top AI investment goal, just 18% also prioritize AI upskilling, compared with 35% of CXOs who do not prioritize AI for headcount reduction. The same leaders trail on predictive analytics (21% vs. 44%), time savings and productivity, and reducing employees' administrative work — the investments that make a workforce more capable.

"AI does not create value on its own. People create value when they're enabled with the right set of skills and confidence," said Sony SungChu, Chief AI Officer at Businessolver. "If leaders reduce capacity without building capability, they could risk undermining the very productivity gains they're chasing."

The survey of 300 C-suite leaders and 1,000 employees is part of Businessolver's 11th annual State of Workplace Empathy study.

The report also revealed:

- CXOs reporting significant financial growth in the past year, report double the layoffs (23% vs. 11%), more recruiting (37% vs. 29%), and lower benefits investment (48% vs. 61%) — a signal of targeted workforce redesign, not simple downsizing.

- Executives and employees see AI differently. Nine in 10 CXOs say employees are excited about AI, yet 39% of employees worry about their future, 31% fear falling behind, and 49% say they've been left to figure out AI on their own.

- The C-suite is operating with different views of future workforce risk. While 88% of CIOs/CTOs worry technology will outpace internal systems or workforce skills, 63% of CFOs share that concern, a 25-point gap between the leaders closest to implementation and their finance counterparts.

- CXOs prioritizing AI-driven headcount reduction are more likely to see empathy as an obstacle. Nearly one-third (30%) say organizational empathy "gets in the way" of their personal business goals, compared with 19% of other CXOs.

"AI will change jobs and economic pressure will force hard decisions," said Jon Shanahan, President and CEO of Businessolver. "These are challenges but also opportunities for companies to demonstrate empathy in the face of a generational workplace shift, while creating stronger, more resilient companies — not just more efficient ones."

Read the full report here.

About Businessolver

Businessolver is an independently owned benefits technology company advancing a more proactive, connected, and anticipatory benefits experience. Through a secure SaaS platform, governed intelligence, and an always-on service model designed to act early and stay aligned, Businessolver helps organizations reduce complexity, strengthen engagement, and deliver consistent outcomes across total wellbeing. With more than two decades of innovation, Businessolver unifies people, data, and operations so that insights turn into action — and benefits work better for employers, employees, and partners. 

SOURCE Businessolver

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Invitation to Alfa Laval's third quarter conference call

LUND, Sweden, Sept. 29, 2026 /PRNewswire/ -- Alfa Laval will release third quarter earnings on 27 October at 07:30 am CET. The conference call will start at 09:00 am CET.

The conference call is hosted by Alfa Laval's CEO and President Tom Erixon and EVP, CFO Fredrik Ekström.

To participate in the conference call and ask questions, please register on below link: Diamond Pass Registration

You can also follow the conference via a live webcast. A webcast link will be available on | Alfa Laval Investors

Contacts

Johan Lundin

Head of Investor Relations, Alfa Laval

Mobile: +46 730 46 30 90

[email protected]

Beata Ardhe

Executive Assistant

Mobile: +46 709 36 65 26

[email protected]

This is Alfa Laval

The ability to make the most of what we have is more important than ever. Together with our customers, we're innovating the industries that society depends on and creating lasting positive impact. Alfa Laval is a leading global provider of first-rate products in the areas of heat transfer, separation and fluid handling. We're set on helping billions of people to get the energy, food, and clean water they need. And, at the same time, we're decarbonizing the marine fleet that is the backbone of global trade.

We pioneer technologies and solutions that enable our customers to unlock the true potential of resources. As our customers' businesses grow stronger, the goal of a truly sustainable world edges closer. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets. Together, we're pioneering positive impact.

Alfa Laval was founded more than 140 years ago, has customers in 100 countries, employs more than 23,670 people, and annual sales were SEK 69.6 billion (6.6 BEUR) in 2025. The company is listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com

The following files are available for download:

SOURCE Alfa Laval

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The partnership accelerates ITpipes' product and AI development for the crews, engineers, and agencies who keep North America's wastewater and stormwater systems running.

SEATTLE and SAN FRANCISCO, Sept. 29, 2026 /PRNewswire/ -- ITpipes, the trusted leader in pipe inspection software for sewer and stormwater systems, today announced a strategic growth investment from Luminate Capital Partners. The investment will accelerate ITpipes' product and AI development — helping inspection crews work faster and more consistently, and giving the utilities, municipalities, and contractors who own these systems the reliable condition data they need to plan maintenance and to maximize the impact of their budgets.

Growing expectations require product innovation

Buried infrastructure has moved to the center of local budget and regulatory decisions. The American Society of Civil Engineers gave wastewater infrastructure a D+ in its 2025 Report Card, citing more than 1.87 million miles of collection system pipe and a roughly $69 billion annual capital investment gap. Utilities must assess more pipe and defend every dollar of spending — often with the same crews and budgets they had a decade ago — putting a premium on condition data that is accurate, complete, and defensible. More than 300 utilities, municipalities, and CCTV contractors use ITpipes to collect, manage, and act on that data, built on Esri ArcGIS and aligned with NASSCO PACP, MACP, and LACP standards.

"For fifteen years, utilities and contractors have trusted ITpipes with the condition data behind their rehabilitation and capital decisions — and that trust is the foundation our AI is built on. AiDetect works because it's trained on real inspection data and checked by NASSCO-certified experts, not because it's the newest thing on the market. Partnering with Luminate lets us build faster for the cities, counties, and contractors who count on us, with the same reliability that earned their trust," said Ned Bebawy, CEO of ITpipes.

AI has moved quickly through pipe inspection, from early defect-detection experiments to tools that now support certified coders on production inspections every day. ITpipes' AiDetect — shaped by more than fifteen years of understanding how inspections run and how defects are coded in the field, with every result reviewed by NASSCO-certified experts — delivers 97% defect-detection accuracy while cutting coding and QA time by at least 50%. This investment funds the next stage: building on that accuracy to make ITpipes the system of record for all underground condition data — where inspections, defect coding, and asset history come together to drive planning, prioritization, and capital decisions.

"ITpipes has earned something rare in this market: the trust of the utilities, municipalities, and contractors who depend on accurate inspection data every day. Ned and the team have paired that reputation with real product innovation, including AiDetect, and we're excited to partner with them to build the tools their customers need — reliable, easy to use, and grounded in how the work actually gets done," said Andrew Baldwin, Partner at Luminate Capital.

Lincoln International provided M&A advisory services to the shareholders of ITpipes and legal advice was provided by Holland & Knight.

Kirkland & Ellis served as legal advisor to Luminate.

Terms of the transaction were not disclosed.

About ITpipes

ITpipes is a leading provider of pipe inspection software and AI coding solutions for water and wastewater utilities, municipalities, and contractors across the United States and Canada. Built on Esri ArcGIS and aligned with NASSCO PACP, MACP, and LACP standards, ITpipes helps agencies collect, manage, and act on condition data to keep critical infrastructure running. ITpipes is headquartered in Seattle, Washington. Learn more at www.itpipes.com.

About Luminate Capital Partners

Luminate Capital Partners is an investment firm managing over $2 billion in assets with a focus on growth software companies. Luminate partners with management teams to drive growth through building innovative products that solve real customer problems. Luminate's portfolio of market leaders includes AbsenceSoft, Axonify, Conexiom, Adherent, Ease, FMX, MSI Data, StarCompliance, Suralink and Thought Industries. For more information, please visit www.luminatecapital.com.

Media Contacts

For ITpipes, Ashley Stuart, Director of Marketing, ITpipes

[email protected] | www.itpipes.com

For Luminate, Chris Tofalli, Chris Tofalli Public Relations, LLC

[email protected]

SOURCE Luminate Capital Partners

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Gross Margin Expands to 34.7% from 25.3%; Net Loss Narrows by $6.8 Million; IPP Production Revenue Reaches $9.8 Million

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated June 5, 2025, to its short form base shelf prospectus dated May 7, 2025.

TORONTO, Sept. 29, 2026 /PRNewswire/ -- PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) ("PowerBank" or the "Company") reports results for the fiscal year ended June 30, 2026. All financial figures are in Canadian dollars and are in accordance with IFRS Accounting Standards ("IFRS") as issued by the International Accounting Standards Board as presented in the consolidated financial statements. References to "FY2025" mean the year ended June 30, 2025 and references to "FY2026" mean the year ended June 30, 2026.

Fiscal Year Financial Highlights (All amounts are for the Twelve-Month Period ended June 30, 2026)

- Revenues were $27.4 million compared to $41.5 million in the same period during FY2025.

- Gross profit was $9.5 million, or 34.7% of revenues, compared to $10.5 million, or 25.3% of revenues in the same period for FY2025.

- IPP production revenue increased from $9.3 million to $9.8 million during the period.

- Adjusted EBITDA(1) of $(3.5) million compared to $(0.8) million for the same period during FY2025.

- Net loss of $24.3 million, or $(0.58) per basic share during the period in FY2026, compared to a net loss of $31.1 million, or $(0.97) per basic share during the same period in FY2025.

- Cash flow from operating activities was an outflow of $12.8 million compared to an outflow of $17.3 million in the same period in FY2025.

- Working capital improved to $1.6 million as of June 30, 2026, compared to a working capital deficit of $(1.8) million at June 30, 2025.

Corporate Fourth Quarter Highlights and Milestones:

- On May 5, the Company announced the SFF 06 battery energy storage project in Ontario achieved commercial operation on April 20, 2026.

- On May 21, the Company announced three new battery energy storage system projects in upstate New York, adding 60 MWh to the growing portfolio of BESS.

- The Company announced all three Community Solar Projects in the 21 MW upstate New York portfolio reached commercial operation. On June 30, the Company announced that it has executed an Operations and Maintenance Services Agreement for the three projects.

- On June 9, the Company announced that equipment procurement and physical work occurred for 8 distributed solar and energy storage projects in New York State, meaning the projects met the IRS Physical Work Test ahead of the July 4, 2026 deadline. The estimated ITC value associated with the safe-harbored projects is approximately US$29.7 million, with an estimated portfolio construction value of approximately US$74.3 million.

- The Company announced that all three community solar projects in Nova Scotia have secured interconnection agreements, advancing the 12.4 MW pipeline in the province.

- On June 26, the Company announced it was awarded a $2.95 million federal contract with the US Department of Defense and the Department of the Army for a Covered Parking Canopy Solar Project.

- On June 29, the Company announced a Joint Development Agreement with Nodiac Corp. to leverage PowerBank's portfolio of solar and BESS sites across North America for the deployment of distributed AI compute infrastructure.

Dr. Richard Lu, CEO of PowerBank commented: "Fiscal 2026 was the year PowerBank's financial transformation took hold. While revenue declined as we shifted from selling projects toward owning them, gross margin expanded to 34.7% from 25.3%, we narrowed our net loss by $6.8 million, reduced cash used in operations by $4.4 million, and moved from a working capital deficit to positive working capital of $1.6 million. We brought five projects into commercial operation during the year, including our SFF 06 battery energy storage project in Ontario, and our IPP portfolio generated $9.8 million in production revenue. With this foundation in place, we expect revenue to return to growth in Fiscal 2027."

Summary of Annual Results (All amounts are for the Twelve-Month Period)

The Company ended the 2026 fiscal year with $40.9 million in current assets (including $10.7 million in cash), as compared to $41.3 million in current assets as of year-end June 30, 2025. The decrease was primarily due to lower prepaid expenses and deposits and trade and other receivables, substantially offset by higher inventories and cash.

Current liabilities decreased from $43.1 million as of the year ended June 30, 2025, to $39.4 million as of June 30, 2026, primarily due to lower trade and other payables and contract liabilities, partially offset by increases in the current portion of long-term debt and short-term loans. As a result, the Company had working capital of $1.6 million at June 30, 2026.

For complete details please refer to the unaudited condensed interim consolidated financial statements and associated Management Discussion and Analysis for the nine months ended March 31, 2026, available on SEDAR+ (https://www.sedarplus.ca).

The Company notes that the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements for the Company and its customers and the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power, which could cause demand for the Company's services to decline. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the statements in this press release.

Conference Call — September 29, 2026, at 4:30 PM ET

The Company will review financial results and provide a business update. Interested parties can register for the webinar by clicking here.

After registering, you will receive a confirmation email containing information about joining the webinar.

Non-IFRS Financial Measures

The Company has disclosed certain non-IFRS financial measures and ratios in this press release, as discussed below. These non-IFRS financial measures and non-IFRS ratios are widely reported in the renewable energy industry as benchmarks for performance and are used by management to monitor and evaluate the Company's operating performance and ability to generate cash. The Company believes that, in addition to financial measures and ratios prepared in accordance with IFRS, certain investors use these non-IFRS financial measures and ratios to evaluate the Company's performance. However, the measures do not have a standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other companies. Accordingly, non-IFRS financial measures and non-IFRS ratios should not be considered in isolation or as a substitute for measures and ratios of the Company's performance prepared in accordance with IFRS.

Non-IFRS financial measures are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure ("NI 52-112") as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ratio, fraction, percentage or similar representation.

A non-IFRS ratio is defined by NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage, or similar representation, (b) has a non-IFRS financial measure as one or more of its components, and (c) is not disclosed in the financial statements.

Adjusted EBITDA

Adjusted EBITDA is a non-IFRS financial measure, which excludes the following from net earnings:

- Income tax (income) expense;

- Finance costs;

- Amortization and depreciation;

- Fair value gain/loss;

- Stock based compensation;

- Impairment charges or reversals;

- Loss on investments;

- Foreign exchange gains or losses.

Management believes Adjusted EBITDA is a valuable indicator of the Company's ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations, and fund capital expenditures. Management uses Adjusted EBITDA for this purpose. EBITDA is also frequently used by investors and analysts for valuation purposes whereby Adjusted EBITDA is multiplied by a factor or "EBITDA multiple" based on an observed or inferred relationship between Adjusted EBITDA and market values to determine the approximate total enterprise value of a Company. Management also believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results because it is consistent with the indicators management uses internally to measure the Company's performance.

Adjusted EBITDA is intended to provide additional information to investors and analysts. It does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of operating performance prepared in accordance with IFRS. Other companies may calculate Adjusted EBITDA differently.

For the twelve months ended June 30, 2026, Adjusted EBITDA was a loss of $3,514, compared to a loss of $846 in the same period in the prior year, representing a decrease of $2,668. The decrease primarily reflected lower development and EPC revenue and higher operating expenses.

Production awards under long-term purchase agreement reinforce Lyntris' role in enabling integrated air and missile defense

WASHINGTON, Sept. 29, 2026 /PRNewswire/ -- Lyntris Inc. (NYSE: LYNX), a defense technology company delivering sense-to-act connectivity solutions for the modern connected battlespace, today announced it has received production orders from Raytheon, an RTX business, supporting Option Years Two and Three of the U.S. Army's Lower Tier Air and Missile Defense Sensor (LTAMDS) program. The orders fall under the long-term purchase agreement Lyntris established with Raytheon in 2023 and cover production demand through 2028.

LTAMDS is expected to be the U.S. Army's replacement for the Patriot radar and the sensing foundation of its Integrated Air and Missile Defense architecture. The system will provide 360-degree surveillance and fire control from a single sensor, closing the rear-sector gap that constrained the fielded fleet. It will provide air defenders with detection, tracking, and engagement against maneuvering hypersonic, cruise missile, and unmanned threats. The U.S. Army has moved the program from development into full-rate production, with Raytheon serving as prime contractor.

Under the production orders, Lyntris will manufacture the precision thermal management assemblies that enable LTAMDS active electronically scanned array (AESA) performance. The assemblies will combine liquid cooling circuits with tight-tolerance machined features that hold thermal stability across high-power radar electronics, where temperature variation shortens component life. Production will run across the company's Newark, California and Carson City, Nevada facilities.

Lyntris has manufactured RF and thermal management hardware for fielded radar programs for more than 20 years, in a segment where qualification cycles are long and few suppliers can hold the tolerances that high-power AESA arrays require at production volume. Leveraging such qualified base, Lyntris anticipates scaling from development quantities into sustained rate production without requalification delay. Lyntris' vertically integrated manufacturing allows consolidation of work that would otherwise span multiple vendors, reducing schedule risk for a program the U.S. Army has prioritized for accelerated fielding.

"LTAMDS is one of the U.S. Army's highest-priority modernization programs, and Raytheon needs suppliers who can hold quality while volume climbs," said Brian Morrison, CEO of Lyntris. "These orders reflect years of investment in the manufacturing base required to deliver mission-critical hardware at rate, and they extend a partnership that goes back 13 years."

"Thermal management is where AESA radar performance is won or lost — the array can only radiate what the cooling system can carry away," said Matt Parisi, Vice President at Lyntris. "Our team has built the process discipline to hold those tolerances shipset after shipset, and that repeatability is what a production program demands."

LTAMDS is managed by the U.S. Army Portfolio Executive Office – Fires at Redstone Arsenal, Alabama.

About Lyntris

Lyntris is a defense technology company delivering sense-to-act connectivity solutions for the modern, connected battlespace. Combining differentiated hardware, software and mission expertise, Lyntris helps customers detect threats earlier, decide faster and act with precision in contested, multi-domain environments.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "expect," "believe," "anticipate," "may," "could," "intend," "plan," "estimate," "target," "predict," "project," "will," "should," "forecast," "outlook" or similar expressions, or by discussion of strategies, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding: the expected scope, value and timing of orders under the long-term purchase agreement with Raytheon; the anticipated performance and capabilities of Lyntris' assemblies; expected production volumes and manufacturing timelines; and the potential for expanded business opportunities. These statements are based on current expectations, estimates, assumptions and projections of Lyntris' management and are neither predictions nor guarantees of future events, circumstances or performance. Forward-looking statements are inherently subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, without limitation: the long-term purchase agreement structure does not guarantee any particular volume or timing of orders beyond those already received; Lyntris' dependence on U.S. government defense budgets and appropriations; risks associated with performance on fixed-price or cost-type government contracts; the competitive environment for RF, thermal management and precision manufacturing technologies; supply chain disruptions or constraints on specialized materials and components; Lyntris' ability to scale production to meet customer demand; our ability to protect and enforce proprietary technology and intellectual property rights; the inherent uncertainties in complex defense programs, including potential schedule delays, technical challenges or cost overruns; changes in applicable laws, regulations or government procurement policies; and other factors described under "Risk Factors" in Lyntris' filings with the Securities and Exchange Commission, including its registration statement on Form S-1, as amended, copies of which are available free of charge at the SEC's website at www.sec.gov under Lyntris Inc. The forward-looking statements included in this announcement are only made as of the date of this announcement. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable law. Nothing in this press release, including use or display of third parties' trademarks, service marks, trade name or products, should be construed as an approval, endorsement, guarantee or sponsorship by any third parties of Lyntris Inc., its products, business or financial performance or any aspect of this press release.

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- Jongga, Korea's No. 1 kimchi brand, has expanded into more than 90 countries, with the U.S. serving as its largest export market since 2023

- Local production footprint expanded through its Los Angeles kimchi plant and its acquisition of Lucky Foods, supporting continued growth across mainstream U.S. distribution channels

SEOUL, South Korea, Sept. 29, 2026 /PRNewswire/ -- Daesang, one of Korea's leading food companies, is accelerating its expansion in the U.S. kimchi market with Jongga, Korea's No. 1 kimchi brand. The company is strengthening its local production and distribution infrastructure while building deeper connections with U.S. consumers through a product portfolio tailored to local tastes and food culture and a wide range of brand initiatives.

Jongga Kimchi is currently sold in more than 90 countries worldwide, including markets in North America, Europe, and Asia. In 2023, the United States surpassed Japan to become Jongga's largest export market and has since established itself as a key market for the brand's global kimchi business. Since 2019, Jongga has steadily expanded its U.S. presence by extending its distribution network beyond Korean grocery stores into mainstream retail channels across the western and central United States.

Amid this growth in the U.S. market, Jongga's global kimchi business has maintained steady growth. In the first half of 2026, Korea's total kimchi exports reached approximately USD 86 million, with Jongga accounting for around USD 48 million, or 56% of the total. Jongga's kimchi exports nearly tripled from approximately USD 32 million in 2017 to USD 90 million in 2025.

To meet growing U.S. demand and establish a stable local supply base, Daesang began investing in local production. In early 2022, it became the first Korean food company to complete a large-scale kimchi plant in the United States, opening the facility in the City of Industry, California, near Los Angeles. The approximately 10,000-square-meter plant has an annual production capacity of 2,000 metric tons of kimchi and includes dedicated ingredient storage facilities. It currently produces a range of products developed with local food preferences in mind, including Jongga Original Kimchi, Vegan Kimchi, White Kimchi, Silbi Kimchi (an extra-spicy variety), and Cucumber Kimchi.

In addition to establishing local production capacity, Daesang has worked to secure a reliable ingredient supply chain and distribution network. The company sources key ingredients, including napa cabbage, radishes, and green onions, directly in the United States. Years of market research and R&D have also enabled Daesang to identify local ingredients and suppliers that allow it to maintain consistent kimchi taste and quality. Building on these efforts, the company has established integrated U.S. operations encompassing production, commercial activities, distribution, and sales. In 2023, Daesang acquired Lucky Foods, a U.S. food manufacturer whose products include Seoul Kimchi, thereby expanding its local production capacity. By leveraging the distribution networks of both companies, Daesang has further strengthened its position in the mainstream U.S. market.

Building on its strong local operations, Jongga continues to expand its product portfolio with offerings tailored to U.S. consumers' tastes and eating habits. In addition to traditional napa cabbage kimchi, the brand has introduced varieties made with familiar vegetables such as green cabbage, carrots, and cucumbers. Its expanded lineup also includes white kimchi for those who prefer milder flavors and ABC Kimchi made with apples, beets, and carrots. Jongga has also developed new product formats, including kimchi spread that can be paired with bread or crackers and Crunchy Bites, which offer a distinctly crisp texture. These products give consumers more ways to enjoy kimchi.

Jongga continues to pursue collaborations that strengthen its connection with U.S. culinary culture. In 2024, it partnered with three-Michelin-star chef Corey Lee to launch two San Ho Won Kimchi products in the U.S. as part of its Jongga Gourmet Edition line. The two varieties, Original Kimchi and White Kimchi, combine Jongga's longstanding production expertise with Chef Lee's creative recipes, introducing new flavors and demonstrating kimchi's culinary versatility.

Alongside expanding its product portfolio, Jongga is engaging U.S. consumers through experiential brand initiatives that allow them to taste and discover kimchi firsthand. In 2024, the brand ran a food truck campaign in Los Angeles and New York, serving K-food dishes featuring Jongga Kimchi and connecting with approximately 6,000 consumers. In 2025, Jongga took part in the global music festival HEAD IN THE CLOUDS LA 2025, where it showcased a variety of dishes made with Jongga kimchi and strengthened its connection with younger consumers.

"The United States has emerged as Jongga's largest export market and is a key market for our global kimchi business," said Oh Yeon-taek, CEO of Kimchi CIC at Daesang. "Building on our local production and distribution infrastructure and longstanding expertise in kimchi production, we will continue to broaden our product portfolio and consumer reach, making kimchi a more familiar and versatile part of everyday life in the United States."

About Daesang Corporation

Founded in 1956, Daesang Corporation is one of the world's largest producers of fermented food products, with decades of expertise in food manufacturing. The company has grown into a premier global enterprise through internationally recognized brands such as Jongga and Ofood, offering a broad product portfolio that includes kimchi, specialty sauces, convenient home meal replacements (HMR), and more. Headquartered in South Korea, Daesang operates manufacturing subsidiaries in the United States, Poland, China, Indonesia, and Vietnam. For more information, visit www.daesang.com/en.

About Jongga

Jongga is the No.1 Kimchi brand in Korea, bringing the authentic taste and tradition of Kimchi to consumers around the world. Since 1987, Jongga has embodied the very essence of Kimchi, combining Korea's refined art of fermentation with continuous research and innovation. As one of the world's first packaged Kimchi brands, Jongga has helped make Kimchi more accessible to people worldwide while staying true to its authentic roots. Today, Jongga continues to share the joy of Kimchi globally and open up endless possibilities for how this beloved dish can be enjoyed across cultures and everyday occasions. For more information, visit jonggaglobal.com/

SOURCE Daesang Corporation

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JPMorgan Chase captures No. 1; Alphabet, Coca-Cola, Amazon and NVIDIA round out top 5

In partnership with ServiceNow, Fortune AIQ 75 Ranks Fortune 500 Companies Turning AI Into Positive Business Results

2nd annual ranking recognizes companies across 18 sectors; 36 companies make their AIQ debut

NEW YORK and SANTA CLARA, Calif., Sept. 29, 2026 /PRNewswire/ -- Fortune and ServiceNow today unveiled the 2026 Fortune AIQ 75, an expanded annual ranking of Fortune 500 companies generating significant, measurable impact from AI adoption. JPMorgan Chase captured No. 1 in the prestigious ranking. ServiceNow's 2026 Enterprise AI Maturity Index research served as the foundation for the methodology behind the Fortune AIQ 75 List.

Building on the inaugural 2025 Fortune AIQ 50, the 2026 list grows to 75 companies – with 36 new companies added to the ranking – spanning 18 sectors across Technology, Finance, Healthcare, Energy, Retail, and Industrials. The expansion reflects the rapidly widening adoption and impact of AI across the American corporate landscape.

The debut of the Fortune AIQ 75 list comes two days before the inaugural Fortune AIQ Summit hosted at the New York Stock Exchange in New York City on Thursday, October 1. The invite-only AIQ Summit will draw attendees and speakers from the Fortune AIQ 75.

The Fortune AIQ Summit will feature cross-industry conversations offering actionable insights on what separates successful AI implementations from stalled pilots. Participants will explore how to identify the right use cases, redesign workflows, and scale AI across an enterprise to deliver quantifiable business outcomes.

Together, the companies on the 2026 Fortune AIQ 75 represent $7.58 trillion in revenue, $1.33 trillion in profits, and $32.1 trillion in market value. Technology and Finance are the two most represented sectors, while New York and California are home to more AIQ 75 companies than any other states.

THE TOP TEN COMPANIES ON THE FORTUNE 2026 AIQ 75 LIST ARE:

- JPMorgan Chase

- Alphabet

- Coca-Cola

- Amazon

- Nvidia

- Mastercard

- Visa

- Carrier Global

- Cleveland-Cliffs

- Microsoft

The complete 2026 Fortune AIQ 75 ranking, including company profiles and the methodology, is available here at Fortune.com. Explore the Fortune AIQ editorial hub here.

"The expansion of the Fortune AIQ list to 75 companies reflects the acceleration of AI adoption across corporate America," said Jeremy Kahn, AI Editor at Fortune. "Companies in every corner of the economy are moving from experimentation to implementation, using AI to improve operations, serve customers, strengthen decision-making, and create durable competitive advantage."

"Every company on Fortune AIQ 75 list understands that AI fundamentally transforms business, but people will determine the outcomes. They're redesigning how work gets done and positioning their people close to where the change actually happens," said Jacqui Canney, Chief People and AI Enablement Officer at ServiceNow. "These 75 companies know that as technology moves faster, your competitive edge comes from the people who can read where the business is headed and steer their teams through the shift."

The AIQ 75 ranking represents a partnership among ServiceNow, Fortune, ETR, along with the Fortune editorial team. Fortune expanded upon the foundation introduced by ServiceNow's Enterprise AI Maturity Index, which provided a framework for assessing AI progress across organizations and is an annual deep dive into the state of AI usage in private and public sector companies worldwide. The methodology outlined in the report, is available here.

Fortune also partnered with ETR, the list's primary data provider, to develop a methodology for evaluating Fortune 500 companies on their AI implementation, supported by an ETR-designed survey of technology leaders assessing both the value of their organizations' AI investments and their impressions of AI adoption among peer companies in their sector.

Disclaimer: As a proud sponsor of the Fortune AIQ 75 List, ServiceNow is not eligible for inclusion and had no role in selecting the honorees. Fortune and ETR independently owned the survey design, data collection, and rankings.

About Fortune:

Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world's new generation of innovators. Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.

About ServiceNow

ServiceNow (NYSE: NOW) is the AI control tower for business reinvention. The ServiceNow AI Platform integrates with any cloud, any model, and any data source to orchestrate how work flows across the enterprise. By unifying legacy systems, departmental tools, cloud applications, and AI agents, ServiceNow provides a single pane of glass that connects intelligence to execution across every corner of business. With more than 100 billion workflows running on the platform each year, ServiceNow helps organizations turn fragmented operations into coordinated, autonomous workflows that deliver measurable results. Learn how ServiceNow puts AI to work for people at www.servicenow.com.

Media Contacts:

Patrick Reilly

Fortune

[email protected]

Caroline Parkinson

ServiceNow

[email protected]

SOURCE Fortune Media (USA) Corporation

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