Market Signal Briefing

Gold prices fell further after a sharp correction earlier this week, with the metal heading for a weekly loss.

Aster has unveiled Rocket Launch, a new program designed to connect early-stage crypto projects with traders through liquidity incentives and token rewards. The feature combines token launches, trading competitions, and continuous buybacks to strengthen Aster's onchain ecosystem.

1 hour ago

A solo Bitcoin miner has beaten the odds to mine an entire block alone — earning $347,000 in rewards and showcasing the network’s decentralized spirit.

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A solo Bitcoin miner has become the latest lucky person to win the “Bitcoin mining lottery,” pocketing a $347,455 block reward.

Bitcoin node infrastructure company Umbrel said the solo miner won the block via the Public Pool Bitcoin mining pool, earning the 3.125 Bitcoin (BTC) block reward and a 0.016 BTC transaction fee on top.

It took place at block height 920,440, on Thursday at 7:32 pm UTC, Mempool.space data shows.

While solo Bitcoin miners winning blocks isn’t uncommon, this one was more impressive as the miner secured the block entirely on their own by running a solo mining pool as opposed to the more common practice of pooling hash power with others.

“No middlemen. No third-parties. Just pure self-sovereignty in action,” Umbrel said, while the Bitcoin Bazaar X account added:

“A solo block has been mined by a solominer, mining on his own mining pool, hosted on an Umbrel Server. Total sovereignty. We need more of this.”
Source: Matthias
Solo Bitcoin mining is a win for decentralizationThe increase in solo Bitcoin miners solving blocks is a good thing for Bitcoin’s decentralization as it gives smaller miners a better chance to compete against the large industrial-scale miners, many of which are publicly traded.

Pocket-sized Bitcoin miners are still cheaper than iPhones It comes amid a rise in smaller-sized Bitcoin miners, such as Bitaxes, in recent years, which sell from $155 to over $600, depending on the machine’s terahash-per-second capacity.

While the pocket-sized machines combined only contribute a small boost to Bitcoin’s hash rate, many of these machines have been open-sourced to fight the “secrecy and exclusivity” of larger Bitcoin miners, which typically use the closed-sourced Bitcoin ASICs, a BitMaker spokesperson told Cointelegraph in 2023.

Magazine: Mysterious Mr Nakamoto author: Finding Satoshi would hurt Bitcoin

1 hour ago

A solo Bitcoin miner solved block 920,440, mining it entirely on their own and cashing in a huge reward.

548

A solo Bitcoin miner has become the latest lucky person to win the “Bitcoin mining lottery,” pocketing a $347,455 block reward.

Bitcoin node infrastructure company Umbrel said the solo miner won the block via the Public Pool Bitcoin mining pool, earning the 3.125 Bitcoin (BTC) block reward and a 0.016 BTC transaction fee on top.

It took place at block height 920,440, on Thursday at 7:32 pm UTC, Mempool.space data shows.

While solo Bitcoin miners winning blocks isn’t uncommon, this one was more impressive as the miner secured the block entirely on their own by running a solo mining pool as opposed to the more common practice of pooling hash power with others.

“No middlemen. No third-parties. Just pure self-sovereignty in action,” Umbrel said, while the Bitcoin Bazaar X account added:

“A solo block has been mined by a solominer, mining on his own mining pool, hosted on an Umbrel Server. Total sovereignty. We need more of this.”
Source: Matthias
Solo Bitcoin mining is a win for decentralizationThe increase in solo Bitcoin miners solving blocks is a good thing for Bitcoin’s decentralization as it gives smaller miners a better chance to compete against the large industrial-scale miners, many of which are publicly traded.

Pocket-sized Bitcoin miners are still cheaper than iPhones It comes amid a rise in smaller-sized Bitcoin miners, such as Bitaxes, in recent years, which sell from $155 to over $600, depending on the machine’s terahash-per-second capacity.

While the pocket-sized machines combined only contribute a small boost to Bitcoin’s hash rate, many of these machines have been open-sourced to fight the “secrecy and exclusivity” of larger Bitcoin miners, which typically use the closed-sourced Bitcoin ASICs, a BitMaker spokesperson told Cointelegraph in 2023.

Magazine: Mysterious Mr Nakamoto author: Finding Satoshi would hurt Bitcoin

The Cathie Wood-backed Solana treasury, Solmate Infrastructure, has seen its stock rise nearly 50% after announcing an M&A strategy and confirming discounted SOL token purchases for its new UAE validator.

Ark Invest founder Cathie Wood extended her support to Quantum Solutions, the largest Ethereum (CRYPTO: ETH)-centered cryptocurrency treasury company outside of the U.S., on Thursday.

ETH Treasury Trend Takes Off In JapanWood said that Ark is “thrilled” to back Japan’s first institutional-grade ETH treasury firm, quoting a post by the company’s CEO, Francis B. Zhou.

“Expanding access to innovation in global capital markets is key — thrilled to do this alongside Quantum Solutions and Francis B. Zhou,” the veteran investor said. Wood, however, didn't reveal the actual amount invested or the size of the stake.

Zhou revealed that Quantum Solutions accumulated 2,365 ETH in just a week. The Tokyo Stock Exchange-listed company holds a total of 3,866 ETH, worth $15.34 million, according to CoinGecko, making it the largest ETH-focused digital asset treasury outside the U.S.

Zhou added that more ETH buys are on the way and thanked Wood and Ark Invest for their support.

See Also: Ethereum (ETH) Price Prediction: 2025, 2026, 2030

Wood-Led Ark Invest Bullish On ETHArk Invest’s support for ETH treasury companies is not new. In July, the asset manager made a significant equity investment in BitMine Immersion Technologies Inc. (AMEX:BMNR), the world’s largest ETH treasury firm with a stash of $12.85 billion.

Wood-led Ark Invest has been bullish on ETH’s potential, citing its role in decentralized finance and yield-bearing capability.

Ark focuses on the "big three" cryptocurrencies with robust ecosystems and utility, namely ETH, Bitcoin (CRYPTO: BTC) and Solana (CRYPTO: SOL), and has avoided investments in meme coin.

Price Action: At the time of writing, ETH was exchanging hands at $3.970.07, up 3.38% in the last 24 hours, according to data from Benzinga Pro.

Bitmine shares closed 2.42% higher at $49.19 during Thursday’s regular trading session.

Benzinga’s Edge Stock Rankings indicate that BMNR had a stronger price trend over the medium and long terms. Additional performance details are available here.

Read Next: 

Crypto Billionaire Changpeng Zhao ‘Deeply Grateful’ After Presidential Pardon, Hails Trump For Commitment To Fairness And Justice
Photo Courtesy: Ja Crispy on Shutterstock.com

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Mike Novogratz, CEO of Galaxy Digital, warned that Bitcoin reaching $250,000 by year-end would take “a heck of a lot of crazy stuff,” putting a big question mark over some of the bolder market forecasts.

According to his remarks, the more likely outcome is that Bitcoin holds near current levels unless major new forces push prices much higher.

Novogratz Sets A Realistic Range
Based on reports, Novogratz suggested a year-end range of roughly $100,000 to $125,000 for Bitcoin under normal market conditions.

At the time of his comment Bitcoin traded around $107,000, meaning a move to $250,000 would require roughly a 130% rise in a matter of weeks.

That kind of jump is possible, he said, but it would demand events far outside ordinary market behavior.

What Would Need To Happen
Reports have disclosed two main scenarios that could create the type of momentum needed for a run to $250,000. One involves US President Donald Trump exerting pressure on the Federal Reserve in a way that shifts macro policy and boosts risk assets.

The other key trigger would be swift passage of a major market structure bill for crypto — commonly referred to in discussions as the CLARITY Act — which could open the door to a surge in institutional demand. Both are uncertain and would have to line up quickly for the price to triple-plus in weeks.

BTCUSD currently trading at $109,434. Chart: TradingView
Market Context And On-Chain Signals
On-chain data and recent price action add weight to Novogratz’s caution. Analysts tracking flows, supply, and holder behavior have pointed to a period of profit-taking and slower buying.

Glassnode and other trackers show signs of consolidation. In plain terms: long-term holders are selling some coins and new buyers have not yet overwhelmed sellers. Unless large new inflows appear, price momentum is likely to be limited.

Bitcoin: Technical Thresholds To Watch
Analysts are watching $125,000 as a key resistance level. A decisive move above that figure could change the math and encourage more buying.

Conversely, a sustained hold near the low six-figure range would fit Novogratz’s base case. Spot Bitcoin ETF flows and big institutional purchases are the clearest possible catalysts that could tilt sentiment higher.

According to market observers, investors should not assume rapid gains will occur simply because headlines mention big targets. The math is clear: moving from roughly $107,000 to $250,000 in about 10–11 weeks requires mass buying that has not yet appeared.

Featured image from Gemini, chart from TradingView

$6 billion in Bitcoin and Ethereum options contracts expire, signaling significant market positioning shifts.Put-to-call ratios and open interest show cautious optimism for Bitcoin and pronounced positive sentiment for Ethereum.Muted volatility may quickly reverse as crucial CPI and FOMC events approach.Around $6 billion in Bitcoin and Ethereum options are set to expire today, putting market resilience to the test as open interest and trader positioning hit new records.

This key event may reshape price action for the largest cryptocurrencies, with heightened volatility possible ahead.

Sponsored

Options Expiry in Focus: Scale and SentimentCrypto derivatives markets face a pivotal moment as options expiry arrives during a period of subdued volatility and keen anticipation.

The outcome could signal the prevailing sentiment for Bitcoin, Ethereum, and wider digital assets as the market prepares for key macroeconomic events.

On October 24, $5.86 billion in options tied to Bitcoin and Ethereum reach maturity at 8:00 UTC on Deribit.

Official exchange data shows $5.1 billion in Bitcoin options and $754 million in Ethereum options expiring, representing tens of thousands of contracts.

Bitcoin Expiring Options. Source: DeribitSponsored

The ‘max pain’ points, where most contracts expire worthless, are $113,000 for Bitcoin and $3,950 for Ethereum. These levels guide trader expectations at settlement.

Current put-to-call ratios stand at 0.90 for Bitcoin and 0.77 for Ethereum. This suggests cautious optimism toward the upside, though near-term uncertainty remains as traders manage risk.

Ethereum Expiring Options. Source: DeribitSponsored

Market Calm, Macro Triggers, and PositioningVolatility has cooled across crypto markets following recent turbulence. Implied volatility stands near 40 for Bitcoin and 60 for Ethereum, showing a pause in wild price action.

Deribit analysts highlight that traders are maintaining exposure into expiry, reflecting that confidence has not faded. This is seen with calls above $120,000 gaining traction, while puts at $100,000 attracting attention.

“Volatility is cooling off… but calm doesn’t last forever. After last week’s chaos, BTC vol is chilling around 40 and ETH around 60. The panic’s gone, for now,” wrote analysts at Amberdata.

Sentiment in the options market is nuanced, with short-dated puts commanding premiums earlier this week as traders hedged risks.

Sponsored

Yet, strong demand for long-dated Ethereum calls extending into 2026 shows optimism about the asset’s long-term prospects.

Meanwhile, this major options expiry event coincides with major macroeconomic developments, including key US inflation data (CPI) and the Federal Open Market Committee (FOMC) meeting.

“…one headline, one surprise, and vol could explode all over again,” Amberdata analysts warned.

Traders must consider potential catalysts as they evaluate risk and opportunity after expiry.

Historically, options expiry has contributed to short-term price swings and volatility spikes. However, conditions tend to stabilize after 8:00 UTC as traders adjust to the new market environment.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

After months of steady gains, BTC is slipping below key cost-basis levels as long-term holders sell into strength and traders retreat to defensive derivatives. Oct 24, 2025, 6:11 a.m.

After months of steady rise to record high, bitcoin’s BTC$111,299.20 pulse has slowed, with BTC changing hands above $111,000 Friday afternoon, Hong Kong time, up 2% over the last week according to CoinDesk market data.

The pullback from the recent peak of over $126,000 is marked by momentum faltering below key cost-basis levels, with capital leaving the spot market and ETFs, alongside defensive options positioning.

In a recent report, Glassnode frames the repeated breakdowns below key quantiles as evidence of market exhaustion. At the same time, CryptoQuant, in a note shared with CoinDesk, finds similar stress in shrinking realized profits and drained exchange inflows.

Capital, they both argue, is staying in crypto but rotating from spot to derivatives, with volatility itself now the main traded asset. Until that balance resets, rallies are likely to be faded rather than followed.

Glassnode points to the short-term holders’ cost basis around $113,000 as the dividing line between renewed strength and deeper consolidation. Falling below that threshold, the firm says, signals that recent buyers are now sitting on losses, eroding confidence and forcing weaker hands to capitulate.

(Glassnode)

Long-term holders, meanwhile, have been selling into strength at a pace exceeding 22,000 BTC per day since July, a trend that continues to sap momentum and weigh on any sustained recovery. If bitcoin fails to reclaim the $113,000 line, Glassnode warns that losses could deepen toward the $108,000–$97,000 range, where 15%–25% of the supply has historically become unprofitable.

CryptoQuant’s data reinforces that view from a flow perspective. ETF inflows have cooled after months of accumulation, while exchange reserves are rising again, a sign that traders are preparing to sell into volatility rather than accumulate.

The firm characterizes this as a rotation of capital within crypto rather than a full exit, as liquidity migrates toward futures and options markets where volatility premiums have surged. This mirrors structural shifts seen in 2021 and mid-2022, when speculative leverage replaced spot conviction.

Options data echo the broader sense of caution. Glassnode reports record-high open interest as traders increasingly rely on derivatives to hedge rather than bet on upside, with put demand rising across maturities.

Glassnode notes that market makers’ hedging has tended to smooth short-term price action, selling into rallies and buying dips to stay delta (market) neutral. Elevated volatility and heavy put demand are keeping the market pinned, with rallies capped by hedging flows rather than broad conviction.

These dynamics have left the market in a limbo, where price action is more shaped by risk management than by directional conviction.

CryptoQuant interprets these flows as a sign of consolidation rather than collapse, writing that liquidity is staying within crypto’s ecosystem, rotating through different instruments as investors wait for clearer macro or policy signals before committing new capital.

Both firms suggest that a meaningful recovery will require renewed spot demand and calmer derivatives activity, conditions that may hinge on the timing of Fed rate cuts or a revival in ETF inflows.

For now, bitcoin isn’t breaking down so much as catching its breath, trading less like a revolution and more like a rotation. Volatility may still be the market’s favorite asset class, but sooner or later, even traders get tired of trading fear.

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Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.

View Full Report

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How Much Could Bitcoin, Ether, XRP and Solana Move After the U.S. Inflation Report?

The release of September's Consumer Price Index (CPI) is expected to show a 3.1% rise in the cost of living from a year earlier, the highest in 18 months, according to FactSet.

What to know:

The release of September's Consumer Price Index (CPI) is expected to show a 3.1% rise in the cost of living from a year earlier, the highest in 18 months.Analysts predict the CPI data will not deter the Federal Reserve from cutting its benchmark interest rate by a quarter-point next week.Ether is expected to experience greater price swings than Bitcoin following the CPI release, with projected moves of 2.9% compared to bitcoin's 1.4%.Read full story

The United States President Donald Trump stirred the cryptocurrency landscape yesterday after pardoning Binance founder and former CEO Changpeng Zhao. Consequently, he forgave CZ for the AML charges that saw him serve a 4-month jail term starting April 2024. The move sparked mixed reactions.

According to data provided by Onchain Lens, a Satoshi-era wallet containing a total of 4,000 BTC ($440 million) recently woke up from hibernation after more than 14 years of inactivity. 

The whale has been selling Bitcoin for a long time via another wallet, which has already received more than 4,000 coins. 

The wallet is considered to be "Satoshi-era" since it dates back to the earliest period that spans the first two years of the cryptocurrency's existence (from January 2009 to December 2011). Back then, the mysterious Bitcoin creator was still active on forums before disappearing for well over a decade. 

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However, the term does not mean that the coins are somehow related to the fabled Bitcoin creator. 

As reported by U.Today, the fortune of Satoshi, who some believe might no longer be alive, recently nose-dived by $20 billion following the most recent market crash. 

Bitcoin OGs selling en masse Recent sales by OG whales have put significant pressure on the price of Bitcoin, which is struggling to remain above the $110,000 mark. 

Analyst James Check recently noted that the sales could be the source of resistance at the moment. 

Bitcoin is currently trading at $111,260, according to CoinGecko data.  

A new list of private donors for President Trump’s $300 million White House ballroom includes major crypto players.

Summary

Ripple, Tether, and Coinbase listed as major donors for Trump’s new $300M White House ballroom.
Donation list reveals growing crypto influence in U.S. politics amid regulatory optimism.
Democrats call for transparency as lawsuits challenge the privately funded expansion.

Ripple, Tether, and Coinbase are among the donors for Trump’s latest venture, in what analysts view as a striking show of digital asset influence in U.S. politics.

According to an Oct.24 report by the BBC, the 90,000-square-foot ballroom is being built on the East Wing grounds and will be entirely financed by private donations. The project began earlier this month and is expected to be completed before the end of Trump’s term. 

While the administration claims the expansion avoids taxpayer costs, it has sparked debate about donor influence.

Crypto firms join elite donor list
The donor list includes about 40 major corporations and individuals, ranging from Amazon and Google to defense contractor Lockheed Martin. Among them, Coinbase, Ripple, and Tether (USDT) stand out as the first crypto firms to appear on a high-profile White House donor registry.

Coinbase, led by chief executive officer Brian Armstrong, has been one of the most active U.S. companies lobbying for clear crypto regulations. Ripple, the issuer of XRP (XRP), has strengthened its ties with Washington this year, with CEO Brad Garlinghouse meeting Trump at a blockchain summit in March. Tether America, the U.S. arm of the world’s largest stablecoin issuer, is also listed, highlighting stablecoins’ growing role in mainstream finance.

Reports suggest that donors may receive symbolic recognition within the ballroom’s structure, such as engraved plaques or named fixtures. The list also features familiar tech figures including Gemini founders Cameron and Tyler Winklevoss, both longtime advocates for blockchain innovation.

Crypto’s expanding political footprint
The ballroom project follows a series of Trump administration moves favoring digital assets, from executive orders on blockchain innovation to the recent pardon of former Binance founder Changpeng Zhao. Armstrong said this week that a new crypto market structure bill is “90% complete,” raising expectations of a friendlier environment for decentralized finance and stablecoin firms.

Meanwhile, critics have raised concerns over potential conflicts of interest. Senator Elizabeth Warren and former secretary Hillary Clinton have questioned the influence of private donors, warning that such arrangements could amount to “pay-for-access” politics.

Preservation groups have also filed a lawsuit seeking to delay the project. Still, the inclusion of leading crypto companies on the donor list marks a turning point for the industry.

Once seen as outsiders to Washington’s power structure, firms like Coinbase, Ripple, and Tether are now helping fund one of its most symbolic buildings. Analysts see this as is a clear sign that crypto’s place in U.S. policymaking is no longer peripheral.

Shiba Inu has experienced a significant surge in burn rate, increasing by 2,713% in the last 24 hours. Data from Shibburn, the protocol's official burn tracker, confirms the spike. Shiba Inu burned 4,764,442 tokens during this period.

Even with such a large reduction in supply, the price trend of SHIB remains modest. The token is trading at 0.00001004 at the time of writing, indicating a 3.74% increase in the last 24 hours. Market observers were hoping for a stronger price reaction to the burn activity.

According to Shibburn data, the current circulation stands at 585,223,355,575,185 coins. The rest of the supply is decreasing as the burn mechanisms are going on in the network. Community-driven burns and transaction fees contribute to the ongoing reduction of the circulating supply.

The burn mechanism permanently removes tokens from circulation. This creates the pressure of supply, which in most cases favors the rise in price. Nevertheless, the burn has not been translated into instant price movement as per the contemporary market conditions.

Weekly Burns Show Sustained ActivityThe seven-day burn total reached 50,786,799 tokens. Such a long run period of high burn activity shows a consistent attempt at trying to lower supply. Since its launch, the Shiba Inu ecosystem has destroyed 410,752,702,962,590 tokens.

Shiba Inu Supply, Source: Shibburn

The inconsistency between the growth in burn rate and price performance raises questions about market dynamics. Traditional laws of supply and demand suggest that a low supply will result in higher prices. However, other factors influence SHIB's valuation in the current environment.

Market sentiment is a crucial factor in determining the performance of meme coins. Price movements are influenced by trading volume, whale activity, and general trends in cryptocurrencies. The burn rate alone cannot drive sustained rallies without supportive market conditions.

Shibarium Development Offers Future CatalystsShibarium, the Layer-2 scaling solution for Shiba Inu, continues its development roadmap. The platform intends to repay $4 million to victims of a recent exploit. The purpose of this move is to regain trust in the ecosystem.

Another major milestone is the Ethereum bridge restart. Compared to the main Ethereum network, Shibarium enables faster and cheaper transactions. Bridge functionality bridges between the two networks and enables transfers between assets.

The Bitcoin price has recently experienced a significant uptick in volatility, positively impacting its performance as it recovered to $110,000 after opening the week at $107,000. Despite this, Bitcoin's struggle to maintain momentum near all-time high levels, combined with increasing selling pressure over the past month, has led some to speculate that the current bull run may have peaked.

Item 1 of 2 Michael Hugo Leiters attends a press conference in Maranello, Italy, September 9, 2019. REUTERS/Flavio lo Scalzo/File Photo

[1/2]Michael Hugo Leiters attends a press conference in Maranello, Italy, September 9, 2019. REUTERS/Flavio lo Scalzo/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesQ3 results due Friday at 1530 GMTPorsche Q3 operating loss seen at 611 million eurosIncoming CEO Leiters to oversee job cuts, strategy overhaulChina luxury market will be major challenge, analysts sayBERLIN/LONDON/FRANKFURT, Oct 24 (Reuters) - Porsche's

(P911_p.DE), opens new tab outgoing CEO Oliver Blume has one more quarterly report to deliver on Friday before his decade-long tenure comes to an end. It won't make for pretty reading.

The German sports car maker is set to post a deep operating loss as it finds itself wedged between a severe slump in top market China and pressure from U.S. tariffs, while undergoing a costly reversal of its shift to electric cars.

Sign up here.

In a bid to fix things, Porsche has appointed ex-McLaren boss Michael Leiters as the next CEO who will take the wheel in January, hoping to revive demand in China and unpick the EV conundrum. Investors remain to be convinced.

"After several profit warnings in a year, visibility for the business model remains very limited," said Ingo Speich of Deka Investment, which holds about $48 million of Porsche stock. He added that Leiters' experience at higher-end rivals McLaren and Ferrari

(RACE.MI), opens new tab signalled where the company might go.

CAN NEW CEO LEAD PORSCHE INTO AN ELECTRIC ERA?Porsche has emerged as one of the biggest casualties in Europe's besieged auto sector. Since listing in 2022, the company has lost around half of its market value.

Speich said Porsche needed to win back consumers in China and get buyers used to its roaring petrol engines to embrace electric.

"Porsche faces a major challenge: in the luxury sports car segment, electric vehicles have not yet been accepted by customers. The key question is: will the new CEO succeed in leading Porsche into the electric vehicle segment?" he said.

Later on Friday, Porsche is expected to report a 611-million-euro ($713-million) operating loss for the third quarter, according to the average forecast of 15 analysts polled by Visible Alpha, against a 974-million-euro profit last year.

This reflects up to 1.8 billion euros in expenses related to delays in its EV rollout.

Porsche's operating profit margin fell to a mere 2.6% in the second quarter, down from more than 14% at the beginning of 2024.FIXING PORSCHE COULD TAKE 3-5 YEARSBlume, who will remain CEO at Porsche's parent Volkswagen , said last quarter he expected "positive momentum again from 2026 onwards" at Porsche, but analysts are less rosy.

Metzler Bank's Pal Skirta said that fixing the problems could take three to five years.

Leiters will have to implement a restructuring programme that envisages 1,900 job cuts in the coming years, on top of 2,000 layoffs for temporary workers this year, with a second package of measures currently under negotiation.

With 32,195 cars delivered to China during the first nine months of 2025, sales there have more than halved from the same period in 2022.

Meanwhile, Porsche's margins have plunged from 18% during the year of the IPO to 2% at best this year.

Porsche has struggled to keep sales stable in its three key regions - Europe, North America and China - in light of pricing pressure, tariffs and weakening demand.BETWEEN PETROL ENGINES AND ELECTRICSpeich said Porsche could manage the current 15% U.S. import tariff. The real challenge would be to work out a future for its high-performance cars in an electric era, and how to revive the brand in China.

The chance of returning to high margins in that market is remote, though, unless Porsche can pinpoint what Chinese consumers are willing to pay premium prices for, said Tu Le, founder of consultancy Sino Auto Insights.

"Because it's not the brand (to have) anymore, at least not in the most important market in the world."

($1 = 0.8575 euros)

Reporting by Rachel More in Berlin, Nick Carey in London and Ilona Wissenbach in Frankfurt. Additional reporting by Christoph Steitz. Editing by Adam Jourdan and Mark Potter

Our Standards: The Thomson Reuters Trust Principles., opens new tab

A Safran LEAP-1A engine is displayed at the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 16, 2025. REUTERS/Benoit Tessier/File Photo Purchase Licensing Rights, opens new tab

CompaniesPARIS, Oct 24 (Reuters) - French aerospace group Safran

(SAF.PA), opens new tab raised full-year forecasts on Friday as it posted higher-than-expected third-quarter revenues, led by its core jet engine division.

The company, which co-produces LEAP jet engines with GE Aerospace

(GE.N), opens new tab through their CFM venture, said it had achieved a "strong catch-up" on delayed deliveries in the quarter, shipping more than in any previous quarter.

Sign up here.

Safran said its third-quarter revenue rose 18.3% to 7.85 billion euros ($9.15 billion). Propulsion revenues grew 25.6%, with widely watched aftermarket, or services, up 21.1%.

Services for civil engines rose 24.2% in dollar terms.

Analysts were on average expecting quarterly revenues of 7.59 billion euros, according to a consensus compiled by the company.

Engine makers have seen strong demand for spares and parts as airlines fly older planes for longer, due in part to congestion at maintenance centres and delayed jet deliveries from Airbus

(AIR.PA), opens new tab and Boeing

(BA.N), opens new tab.

Safran said it was upgrading its revenue growth forecast for the full year to between 11% and 13% from a previous forecast of "low-teens." A French version of its earnings release clarified that the forecast had previously stood at 10% to 12%.

It also raised the forecast for operating income to 5.1 billion to 5.2 billion euros from a previous range of 5.0 billion to 5.1 billion and upgraded its free cash flow forecast to a range of 3.5 billion to 3.7 billion euros from 3.4 billion to 3.6 billion.

All targets now include the impact of tariffs.

Safran followed GE Aerospace in lifting 2025 growth forecasts for LEAP deliveries to more than 20% from 15% to 20%.

($1 = 0.8575 euros)

Reporting by Tim Hepher; Editing by Jamie Freed

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Fidelity High Dividend ETF has outperformed SCHD and DGRO in total returns the last five years, but its significant outperformance is recent amid AI hype. FDVV's focus on high dividend yield and sector tilts, but its 15% weight on dividend growth results in inconsistent annual payout growth lagging both SCHD and DGRO. FDVV offers meaningful diversification when paired with SCHD, but not DGRO, if its dividend metrics can stabilize.

The FTSE 100 Index rose for four consecutive days and reached its all-time high of £9,578 as traders reacted to key earnings and macro data. It has jumped by over 27% from its lowest level this year.

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THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE (7)(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014)

Successful transaction supported by strong demand from existing and new high-quality, long-only and sector specialist investorsInstitutional investors include Ottobock, a global player in the fields of prosthetics, orthotics and exoskeleton technology, healthcare specialist investor Invus, and ASR Global Impact Equity Fund managed by a.s.r. Asset Management N.V.Cash runway extended to at least end of 2026
EINDHOVEN, The Netherlands, Oct. 24, 2025 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD – US ADR: ONWRY), the leading neurotechnology company pioneering therapies to restore movement, function, and independence in people with spinal cord injuries (SCI) and other movement disabilities, today announces that it successfully raised an amount of EUR 50,850,000 million in gross proceeds by way of an accelerated bookbuild offering through a private placement with institutional investors of 11.3 million new ordinary shares (the “Private Placement” and such shares the “New Shares”) via the Joint Bookrunners (as defined below). The New Shares were offered at an issue price of EUR 4.50 per share (the “Issue Price”). The Issue Price was determined by the Company’s pricing committee.

The successful transaction involved existing and new investors including the listed company Ottobock SE & Co. KGaA (“Ottobock”), a global player in the fields of prosthetics, orthotics, and exoskeleton technology, as cornerstone investor, and healthcare specialist investor Invus alongside ASR Global Impact Equity Fund managed by a.s.r. Asset Management N.V., as anchor investors.

“We are delighted to complete this successful transaction, supported by Ottobock and driven by strong demand from high-quality, long-term investors,” said Dave Marver, CEO of ONWARD Medical. “We have successfully transitioned to a commercial-stage company, validated by robust demand for our ARC-EX® System. We plan to use this capital to expand ARC-EX commercial activities while advancing our pipeline with the planned initiation of our pivotal study for the implantable ARC-IM® System. This transaction provides fuel for our mission to deliver innovative therapies that restore movement, function, and independence after a spinal cord injury.”

“We believe in ONWARD Medical’s technology. These developments fit perfectly into our future strategy in the field of neuro-orthotics. We therefore decided to strengthen our role as the largest shareholder and strategic partner with new investments”, said Oliver Jakobi, CEO of Ottobock.

ONWARD currently envisions using the net proceeds of the Private Placement, together with the existing cash balance, to:

Fund development initiatives, including but not limited to product development, clinical studies and regulatory activities for the investigational ARC-IM® System to address blood pressure instability in people with spinal cord injury (40%);Expand sales and operations to support commercialization of the ARC-EX System® in the United States, Europe and select other geographies (30%);Support and scale quality and administrative activities (20%);Fund working capital and other general corporate purposes (5%); andCover financing costs including the existing debt obligation (5%).
The net proceeds from the Private Placement are expected to provide the Company with cash runway through at least end of 2026, assuming no draw down of the Company’s debt facility.

During the bookbuilding period of one business day for the Private Placement, trading of the Company’s shares on the regulated markets of Euronext Brussels, Euronext Amsterdam and Euronext Paris was temporarily suspended and shall resume today (October 24, 2025) as of the start of the trading day.

The New Shares are expected to be listed and admitted to trading on Euronext Brussels, Euronext Amsterdam and Euronext Paris on October 28, 2025, and payment and delivery of the New Shares are expected to take place on October 28, 2025. The New Shares will rank pari passu in all respects with the existing ordinary shares in the Company.

UBS AG London Branch, Stifel Europe Securities SAS and Stifel Europe Limited Paris Branch acted as Joint Global Coordinators and, together with Bank Degroof Petercam SA/NV as Senior Joint Bookrunner and BNP Portzamparc as Joint Bookrunner of the Private Placement.

The Company, Ottobock, as well as certain members of the Board of Directors have agreed to a 90-day lock-up, subject to certain exceptions.

About ONWARD Medical

ONWARD Medical is the leading neurotechnology company pioneering therapies designed to restore movement, function, and independence in people with spinal cord injuries and other movement disabilities. Building on decades of scientific discovery, preclinical research, and clinical studies conducted at leading hospitals, rehabilitation clinics, and neuroscience laboratories, the Company developed ARC Therapy. It has subsequently been awarded 10 Breakthrough Device designations from the FDA. The Company’s ARC-EX® System is cleared for commercial sale in the US. The Company is also developing an investigational implantable system called ARC-IM®, which can be paired with a brain-computer interface (BCI) to restore thought-driven movement.

Headquartered in the Netherlands, the Company has a Science and Engineering Center in Switzerland and a US office in Boston, Massachusetts. The Company is listed on Euronext Paris, Brussels, and Amsterdam (ticker: ONWD) and its US ADRs can be traded on OTCQX (ticker: ONWRY). For more information, please visit ONWD.com.

To stay informed about ONWARD’s research studies, technologies, and the availability of therapies in your area, please complete this webform.

For Media Inquiries:
Sébastien Cros, VP Communications
[email protected]  

For Investor Inquiries:
[email protected]

Forward-Looking Statements  

Certain statements, beliefs, and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ current expectations and projections about future events. By their nature, forward-looking statements involve several risks, uncertainties, and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, delays in regulatory approvals, changes in demand, competition, and technology, can cause actual events, performance, or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions, or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Trademarks: ONWARD, ARC-EX, ARC-IM, ARC-BCI, and the stylized O-Logo are proprietary and registered trademarks of ONWARD Medical. Unauthorized use is strictly prohibited.

ARC-EX Indication for Use (US): The ARC-EX System is intended to deliver programmed, transcutaneous electrical spinal cord stimulation in conjunction with functional task practice in the clinic to improve hand sensation and strength in individuals between 18 and 75 years old that present with a chronic, nonprogressive neurological deficit resulting from an incomplete spinal cord injury (C2-C8 inclusive).

ARC-EX Indication for Use (EU): The ARC-EX System is intended to deliver programmed, transcutaneous electrical spinal cord stimulation in conjunction with functional task practice in the clinic and with take-home exercises in the home to improve hand sensation and strength in individuals between 18 and 75 years old that present with a chronic (>1 year post-injury), non-progressive neurological deficit resulting from an incomplete spinal cord injury (C2-C8 inclusive).

Other Investigational Products: All other ONWARD Medical devices and therapies including ARC-IM and ARC-BCI are investigational and not available for commercial use.

Additional important information

These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. These materials do not contain, constitute or form part of an offer of securities for sale or a solicitation of an offer to purchase securities (the “Securities”) of ONWARD Medical N.V. (the “Company”), in the United States, Australia, Canada, Japan or any other jurisdiction in which such offer or solicitation is unlawful. The Securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). There will be no public offering of the Securities in the United States. The Securities of the Company have not been, and will not be, registered under the Securities Act. The Securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan subject to certain exceptions. No public offering of the securities will be made in the United States.

This document (and the information contained within) is an advertisement and not a prospectus within the meaning of the Regulation (EU) 2017/1129 in each member state (“Member State”) of the European Economic Area (the “Prospectus Regulation”). The Company has not authorised any offer to the public of Securities in any Member State of the European Economic Area. With respect to each Member State (each a “Relevant State”), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant State. As a result, the Securities may and will only be offered in Relevant States (i) to any legal entity which is a qualified investor as defined in the Prospectus Regulation; or (ii) in any other circumstances falling within Article 1(4) of the Prospectus Regulation. For the purpose of this paragraph, the expression "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the Securities to be offered so as to enable the investor to decide to exercise, purchase or subscribe for the Securities.

This document (and the information contained within) is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129, as it forms part of U.K. domestic law by virtue of the European Union (Withdrawal) Act 2018 (the “U.K. Prospectus Regulation”). No action has been undertaken or will be undertaken that constitutes an offer of the securities referred to herein to the public in the United Kingdom or requires the publication of a prospectus in the United Kingdom. The securities referred to herein may not and will not be offered in the United Kingdom, except to qualified investors as defined in the UK Prospectus Regulation, and who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order"), (ii) high net worth entities or other persons falling within Article 49(2)(a) to (d) of the Financial Promotion Order or (iii) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 (as amended)) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons being referred to as “Relevant Persons”).

In the United Kingdom, this document is only being distributed to and is only directed at Relevant Persons. This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

This communication is not a prospectus for the purposes of the Prospectus Regulation. This communication cannot be used as basis for any investment agreement or decision. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing the entire amount invested. Persons considering making such investments should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning the securities referred to herein.

No announcement or information regarding the offering, listing or securities of the Company referred to above may be disseminated to the public in jurisdictions where a prior registration or approval is required for such purpose. No steps have been taken, or will be taken, for the offering or listing of securities of the Company in any jurisdiction where such steps would be required, except for the admission of the offered shares on the regulated market of Euronext Brussels, Euronext Amsterdam and Euronext Paris. The issue, exercise, or sale of, and the subscription for or purchase of, securities of the Company are subject to special legal or statutory restrictions in certain jurisdictions. The Company is not liable if the aforementioned restrictions are not complied with by any person.

Information to Distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended from time to time (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local
implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any ‘manufacturer’ (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the offered shares have been subject to a product approval process, which has determined that the offered shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, distributors should note that: the price of the offered shares may decline and investors could lose all or part of their investment; the offered shares offer no guaranteed income and no capital protection; and an investment in the offered shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Private Placement. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the placement agents in the Private Placement will only procure investors who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the offered shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the offered shares and determining appropriate distribution channels.

UBS, Stifel, Degroof Petercam and BNP Portzamparc are acting exclusively for the Company and no one else in connection with the Private Placement. In connection with such matters, they, their affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person for providing the protections afforded to their clients or for providing advice in relation to the Private Placement or any other matters referred to in this announcement.

The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. REUTERS/Gonzalo Fuentes Purchase Licensing Rights, opens new tab

CompaniesLONDON, Oct 24 (Reuters) - France's Sanofi

(SASY.PA), opens new tab reported a third-quarter profit that beat analysts' expectations on Friday, boosted by strong demand for its anti-inflammatory drug Dupixent and newer medicines.

It confirmed its forecast of sales growth of high single-digits at constant currency rates and earnings growth at a low double-digit percentage this year.

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Sanofi has significantly amped up its research and development expenditure in recent years and plans to be more active with acquisitions as it looks to build its next wave of growth drivers beyond its asthma drug Dupixent.

But investor hopes remain high for the drug, the company's main growth driver, especially since it was approved for a common lung condition called chronic obstructive pulmonary disease last year.

In the third quarter, business operating income was 4.45 billion euros ($5.19 billion), compared to 4.15 billion euros expected on average by analysts in a company-provided poll.

Quarterly sales of its blockbuster asthma drug Dupixent, which Sanofi makes with partner Regeneron

(REGN.O), opens new tab, were 4.16 billion euros, compared with 4 billion euros expected on average by analysts.

($1 = 0.8575 euros)

Reporting by Bhanvi Satija; Editing by Jamie Freed

Our Standards: The Thomson Reuters Trust Principles., opens new tab

By Reuters

October 24, 20255:42 AM UTCUpdated ago

The logo of Italian multinational energy company Eni is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren Purchase Licensing Rights, opens new tab

CompaniesMILAN, Oct 24 (Reuters) - Italian energy group Eni

(ENI.MI), opens new tab said on Friday it would increase its share buyback after better-than-expected third-quarter results.

The company reported an adjusted net profit of 1.25 billion euros ($1.46 billion) in the third quarter, beating an analyst consensus of 1.02 billion euros and coming in just below the 1.27 billion-euro profit posted in the same period of last year.

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Eni said it would raise its full-year 2025 share buyback by 20% to 1.8 billion euros.

($1 = 0.8575 euros)

Reporting by Francesca Landini, editing by Gavin Jones

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Q3 2025 NAV per share at €163.0

Wendel to reach a key milestone in the implementation
of its business model transformation

Exclusive negotiations with a view to acquire Committed Advisors, a manager specialized in the secondary market: Wendel Investment Managers would further strengthen its position as a leading European midmarket private asset management platform

Wendel announces today exclusive negotiations with a view to acquire a controlling stake in Committed Advisors (“CA”), a global asset management firm specialized in the secondary market providing solutions to investors seeking liquidity for their private equity assetsFollowing the acquisition of Committed Advisors, Wendel Investment Managers, Wendel's third-party asset management platform, would exceed €2001 million in 2026 annual FRE and more than €46 billion in AUM in private equity, private debt, and private market solutions Principal investments operations will leverage IK Partners expertise

Wendel to be advised by IK Partners for all existing2 and future private investments Investments will remain owned and controlled by Wendel (no asset transfer) The IK Partners teams dedicated to managing Wendel's assets will assist Wendel for its unlisted assets investments. This will enable Wendel to benefit from IK Partners' investment expertise, its European reach, and its sourcing capabilities with the aim of improving the financial performance of its investmentsSimplification of the model, to generate stronger performance and cost efficiency. This new organization will take effect on January 1st, 2026 Wendel Growth to become Iron Wave (regulatory approval pending)

Wendel Growth’s direct investments team, building on the track record it has established over the past three years, will spin out from Wendel to launch Iron Wave (regulatory approval pending), a new GP in which they will hold a 70% majority stake, with Wendel retaining a 30% minority interest Q3 2025 Trading update highlights:

Fully diluted Net Asset Value3 as of September 30, 2025: €163.0 per share

Fully diluted NAV per share down -2.8% since June 2025 reflecting Bureau Veritas’s share price decrease in Q3 2025: Wendel Investment Managers: total value in NAV up by 2.6% compared to end of June due to multiples and aggregates increase. Asset management now represents c.26% of GAV excluding cash4 (and c.30% pro forma of Committed Advisors acquisition) Listed assets (c.32 % of GAV excluding cash): total value down by 4.9% mainly due to BVI’s share price decrease in Q3Unlisted assets (c.43% of GAV excluding cash): total value down 2.2% in Q3, mainly due to lower market multiples Wendel Investment Managers: continued growth in revenues and fundraising year to date

Wendel Investment Managers, Wendel's third-party asset management platform to reach €46 billion (€40.3 billion excluding Committed Advisors) in assets under management in private equity, private debt, and secondary following acquisition of Committed AdvisorsMonroe Capital has raised c.$1.2 billion of new funds on various strategies over Q3 2025. Management fees totaled €258.1 million YTD, growing more than threefold compared to last year, thanks to organic growth and strong scope effects Wendel Principal Investments: good overall activity performance and portfolio rotation over the first nine months of 2025

Good revenue growth across the boardSuccessful disposal of the 23.3 million Bureau Veritas shares underlying the exchangeable bond into Bureau Veritas shares issued by Wendel in March 2023 and maturing in March 2026, for a total amount of approximately €591 millionThe new CEOs of Crisis Prevention Institute and Scalian have now taken office and are actively working to create value within both companies Dividend: Wendel will pay an interim dividend of €1.50 per share for 2025 on November 20th

In order to reflect the recurring cash flow generated by its dual business model, Wendel has decided to pay an interim dividend of €1.50 in November 2025 for the 2025 financial year corresponding to about one third of the total dividend paid for the previous financial yearThe balance of the dividend for fiscal year 2025 will be submitted for approval at the next Shareholders’ Meeting, to be held on May 21, 2026 Strong financial structure and committed to remaining Investment Grade

Average debt maturity of 4.2 years with an average cost of 2.6%LTV ratio at 13.8%5 as of September 30, 2025, vs 19.2% as of June 30. 2025. LTV pro forma of the acquisition of Committed Advisors is c. 20%Cash position: €2.4 billion + €875 million in committed credit facility (fully undrawn) Laurent Mignon, Wendel Group CEO, commented:   “With the contemplated acquisition of Committed Advisors and the evolution of our Principal Investments platform, Wendel is continuing the transformation of its business model that began in 2023.

Committed Advisors, a highly regarded company operating in the secondary market with an excellent track record, will be a perfect match with our third-party private asset management platform by adding a new vertical, alongside highly talented teams in private equity (IK Partners) and private debt (Monroe Capital). With €46 billion in assets under management, Wendel is gradually establishing itself as a leading player in the mid-market.

At the same time, the evolution of our historic Principal Investments activity, now operated with the support of an advisory mandate entrusted to IK Partners – while retaining control of our assets – will enable us to increase our capacities and our efficiency.

These new milestones are in line with our strategy: to build a balanced group whose value creation is based on two complementary drivers – asset management, which generates recurring and predictable income, and Principal Investments, which is geared towards long-term value creation on majority-owned investments.”

Wendel Investment Managers (WIM) Evolution

Wendel Investment Managers, Wendel's third-party asset management platform would stand at €46 billion in assets under management and would reach €2006 million in 2026 FRE in lower-mid market private equity, private debt, and private market solutions following the contemplated acquisition of Committed Advisors

Wendel announces today exclusive negotiations with a view to acquire a controlling stake in Committed Advisors (“Committed Advisors” or “CA”) from its founding partners who would also reinvest all of their net proceeds in Committed Advisors funds as part of the envisaged transaction. For Wendel, this transaction would constitute a new milestone in its third-party asset management business, Wendel Investment Managers, which is aimed at generating additional sources of recurring income and intrinsic value creation.

A European secondary market specialist

Founded in 2010, Committed Advisors is a global private investment firm focusing on the midmarket, providing a broad range of solutions to investors and general partners seeking liquidity solutions for their private equity assets. Committed Advisors manages €6.0bn of private assets on behalf of third-party investors and, since inception, has completed over 220 transactions. In 2026, Committed Advisors’ activities are expected to generate around 70 million euros in management fees and around 45 million euros in pre-tax Fee Related Earnings (FRE). CA’s team of 50 professionals, including the 4 founding Managing Partners, focuses on mid-market secondary transactions ranging from €20m to €200m. Committed Advisors’ Secondary Funds (“CASF”) represent CA’s core long-standing strategy, accounting for more than 90% of total AuM. This secondary strategy is designed to build highly diversified portfolios across industry sectors and across geographies (North America: 51%, Europe: 36%, Asia & Rest of the World: 13%). Since inception, CA funds have delivered consistent performance, generating a gross IRR of 19%.

With this partnership, Committed Advisors would become the secondary market specialist within Wendel Investment Managers (Wendel’s asset management platform), which already covers buyout through IK Partners and private credit through Monroe Capital. Committed Advisors will benefit from the platform’s resources and support to consolidate its development and keep generating growth in a secondary market that has more than doubled in size since 2021. Following this transaction, Wendel Investment Managers would reach over €46bn in Assets Under Management and €200million in Fee Related Earnings on a pro forma basis in 2026.

        
With this new partnership, Wendel has line of sight to a sizeable platform managing multiple private asset classes: private equity, private credit and secondary, focused on the midmarket. Wendel Investment Managers platform is to become one of the main European players in terms of Assets Under Management & Fee Related Earnings, and will pursue its growth organically, with enhanced potential to generate operational synergies, and externally in the coming years.

A transaction specifically designed by both parties to align the strategic interests of all stakeholders, over the long-term

Wendel would acquire at closing 56% of Committed Advisors (“CA”) from its foundersIn line with Wendel Investment Managers model, CA’s teams would continue to operate autonomously with the same management and investment strategies, in the same markets and under the same brand. Committed Advisors investment committee would remain independentWendel would allocate up to €500m make anchor commitments in CA’s successor funds (19% gross IRR across previous funds) as well as the development of new strategies in the secondary mid-marketCA management would reinvest 100% of the initial net proceeds in CA’s successor fundsPost closing, CA management would retain a 44% equity interest in the GP with a sell-down over a period of 10 years The transaction would include (i) an initial transaction and (ii) subsequent transactions, structured to ensure strong alignment of interests among all stakeholders:

(i)      Initial controlling transaction

As part of the initial transaction, Wendel would acquire 56% of CA shares and allocate up to €500m to make anchor commitments in CA’s successor funds as well as the development of new strategies, and would be entitled to 20% of the carried interest of all such future funds raised by CA. A payment of €258 million would be made at closing, with an additional earnout of up to €128 million payable in 2028, 2029 and 2030, subject to FRE and fund raising targets.

(ii)      Subsequent transactions

The remaining 44% of CA’s share capital would be acquired by Wendel through subsequent transactions scheduled between 2029, 2032 and 2035. The valuation of these transactions would be linked to the growth in FRE over the period. Further, the broader CA Team will also benefit from a share of such value creation.

Subject to the finalization of negotiations and satisfaction of customary completion conditions (including regulatory approvals), the acquisition of the majority stake is expected to close in the first quarter of 2026.

Principal Investments Framework Evolution
Principal investments operations to leverage IK Partners’ expertise and move to a more efficient model

Wendel to be advised by IK Partners for all existing7 and future private investments

To strengthen the monitoring and performance of its unlisted controlled assets, Wendel has decided to appoint IK Partners (“IK”) as a paid advisor covering its unlisted portfolio, including Stahl, Scalian, Globeducate, CPI, and ACAMS. This advisory mandate aims both to strengthen the operational monitoring of these assets and to support Wendel in deploying capital in new opportunities that meet its investment criteria. The assets will remain owned and controlled by Wendel (no asset transfer).

Wendel will retain its decision-making power at the investment committee and on the boards of directors of current and future portfolio companies.

Wendel will continue to manage and lead this activity, while benefiting from broader and more in-depth expertise and access to a diversified and densified pipeline of opportunities. Teams at IK will also contribute sector expertise and analytical capabilities to accelerate decision-making.

IK will set up a dedicated team for this new activity, including several professionals from Wendel's investment team who would have chosen to join IK Partners

This approach illustrates the gradual integration of the Wendel platform, promoting the pooling of expertise between teams.

This new arrangement will take effect on January 1, 2026.

Wendel Growth: model simplification and upcoming launch of Iron Wave (regulatory approval pending) for direct investments

As part of its refocusing on its two core businesses, which began three years ago, Wendel announces that it has received or secured around €75 million in liquidity through secondary transactions on existing investments in funds and funds of funds, and is assessing liquidity opportunities on the remaining exposure in order to finance the Iron Wave project (subject to pending regulatory approval) and to generate additional resources for the Group.

Wendel is evolving its venture capital investment structure, which until now has been operated under the Wendel Growth brand. This business will become Iron Wave, a new GP controlled and managed by Antoine Izsak and Victoire Laurenty who will hold 70% of the share capital and will leverage its three-year track record. Having played an incubator role in the development of this business, Wendel will retain a minority stake in Iron Wave of 30%. Furthermore, major French institutional investors have expressed their intention to support the project alongside Wendel. Iron Wave will advise Wendel on existing direct growth investments made by Wendel Growth.

Net Asset Value as of September 30, 2025: €163.0 per share on a fully diluted basis

Wendel’s Net Asset Value (NAV) as of September 30, 2025, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

Fully diluted Net Asset Value was €163.0 per share as of September 30, 2025 (see detail in Appendix 1), as compared to €167.7 on June 30, 2025, representing a decrease of -2.8%. Compared to the last 20-day average share price as of September 30, the discount to September 30, 2025, fully diluted NAV per share was -50.6%.

Asset management activities contribution to NAV was positive, +€1.1 at constant exchange rate due to IK Partners and Monroe Capital blended multiples’ evolution and good FRE generation. A total of €67M of sponsor money is included in the NAV as of end of September, for both IK Partners and Monroe Capital.

Bureau Veritas contributed negatively to Net Asset Value, as end of September 2025, its 20-day average share price was down YTD (-10.6%). However, IHS Towers (+23.2% 20-day average share prices) and Tarkett (+0,6 %, based on ongoing Tender offer) impacted positively on the NAV. Total value creation per share of listed assets was down (-€3.6) on a fully diluted basis over the third quarter.

Unlisted assets contribution to NAV was negative over the course of the quarter with a total change per share of -€1.5 at constant exchange rate, reflecting overall multiples’ decrease.

Cash operating costs, Net Financing Results and Other items impacted NAV by -€0.4, at constant exchange rate, as maintains a good cost control. FX had a limited impact of -€0.3 on NAV, the dollar remaining broadly stable over the quarter.

Total Net Asset Value evolution per share amounted to -€4.7 since June 30, 2025.

Wendel’s Principal Investments’ portfolio rotation

On September 16, 2025, Wendel announced the successful completion of the disposal of the 23.3 million Bureau Veritas shares underlying the exchangeable bond into Bureau Veritas shares issued by Wendel in March 2023 and maturing in March 2026, for a total amount of approximately 591 million euros.

Following this Placement, Wendel’s holding in Bureau Veritas is reduced from 26.5% of the share capital and 41% of voting rights to approximately 21.4% of the share capital and 35% of voting rights.

As part of this transaction, Wendel has entered into a lock-up commitment for its Bureau Veritas shares of 180 calendar days from the date of the settlement and delivery of the Placement, subject to customary exemptions.

Wendel Investment Managers
c.26% of Gross Asset Value excluding cash

Over the first nine months of 2025, platform (IK Partners and Monroe Capital), focused on the midmarket private markets registered again a strong level of activity, generating a total of €258.1 million in Managements Fees and others, up by +233% vs 2024 thanks to good organic growth and strong scope effects: IK Partners was consolidated since the end of April in 2024, while for the first nine months of 2025, IK Partners is consolidated for the entire year, and Monroe Capital since the end of March 2025.

As of September 30, 2025, Wendel’s third-party asset management platform8 represented total assets under management of €40.3 billion (of which €11.0 billion of Dry Powder9), and FPAuM10 of €29.3 billion, FX adjusted, up +192% year-to-date. Over the period, €6.4 billion new Fee-Paying AuM were generated and about €3.6 billion of exits and payoffs have been realized. Since the beginning of the year, new fundraisings amounted to €3.4 billion.

Sponsor money invested by Wendel

Wendel uncalled commitments in IK Partners funds amount to €377 million (of which €300 million in IK X). As of September 30, 2025, a value of €67 million of sponsor money has been called in IK Partners and Monroe Capital funds.

Principal Investments companies’ revenues

Listed Assets: c.32% of Gross Asset Value excluding cash

Bureau Veritas - Robust and consistent revenue performance delivered in Q3 2025; FY 2025 outlook reaffirmed
(full consolidation)

In the third quarter of 2025, Bureau Veritas reported revenue of EUR 1,583.7 million, representing a 2.3% increase compared to the same period in 2024. The Group delivered robust organic growth of 6.3%, maintaining momentum consistent with the 6.6% achieved in the first nine months of the year.

Four key business lines drove the growth: Marine & Offshore (+16.2%), Buildings & Infrastructure (+7.1%), Industry (+6.9%), and Certification (+5.9%). Agri-Food & Commodities and Consumer Products Services demonstrated resilient performance with low-single-digit organic growth in the third quarter of 2025.

Q3 2025 Highlights

Continued progress in implementing the LEAP I 28 strategy, delivering results that highlight the Company operational resilience and strategic focusAcceleration of M&A programs with two transactions signed in October for a total annualized revenue of c. EUR 32 million in line with the LEAP | 28 portfolio strategy: the first one to expand leadership in the B&I division in Europe, and the second to create new strongholds in the Renewables space. Eight acquisitions signed or closed year-to-date adding EUR 92 million of annualized revenueCompletion of a EUR 700 million bond issuance carrying a coupon of 3.375% with maturity in October 2033, and rated A3 by Moody’s. This issuance enables the Company to leverage attractive financial market conditions in the context of its capital allocation within the LEAP | 28 strategy 2025 Outlook confirmed

Based on the 9-month performance, leveraging a robust opportunities pipeline, a solid backlog, and mid-to-long-term strong market fundamentals, Bureau Veritas reaffirms its outlook for the full year 2025:

Mid-to-high single-digit organic revenue growth,Improvement in adjusted operating margin at constant exchange rates,Strong cash flow, with a cash11 conversion above 90%. For more informations : group.bureauveritas.com

IHS Towers – IHS Towers will report its Q3 results in November 2025.

Tarkett – Tarkett reported its Q3 trading update on October 22, 2025.
(for more information: https://www.tarkett-group.com/en/investors/)

Unlisted Assets: c.43% of Gross Asset Value excluding cash

  Sales (in millions)
  9 months 2024 9 months 2025 Stahl €687.9 €684.3 CPI $112.0 $115.9 ACAMS $76.8 $84.4 Scalian (2)  €401.3 €378.6 Globeducate(1)   n/a €269.8 (1) The acquisition of Globeducate was finalized on October 16, 2024. Globeducate's fiscal year ends in August, and the figures presented correspond to the last nine months ending at the end of August 2025.Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 9 months revenue from December 1, 2024, to August 31, 2025.

(2) End of 2024, Scalian, which had a different fiscal year-end from Wendel, has aligned its fiscal year-end with Wendel. As a result, the revenue contribution corresponds to 9 months of revenue from January 1, 2025 to September 30, 2025. The contribution published last year (€409.3 million) corresponded to 9 months of revenue from October 1, 2024 to June 30, 2025.

Stahl – Total sales12 slightly down -0.5 % for the first 9 months of 2025 in challenging market conditions  
(full consolidation)  

Stahl, the world leader in specialty coatings for flexible substrates, posted total sales of €684.3 million in the first 9 months of 2025, representing a total decrease of -0.5 % versus last year.

Q3 2025 was characterized by the persistence of challenging market conditions experienced since the second half of 2024, intensified by the unstable tariff landscape which notably impacted performance and volumes in Leather, and particularly also the Wet-End activities, generating uncertainty among customers.  

Organic growth was -5.2%, scope contributed positively by +7.3% thanks to the Weilburger acquisition completed in September 2024, while FX was negative (-2.6%), mostly through USD and CNY weakening against the EUR. 

Crisis Prevention Institute – Revenue growth of + 3.5% as compared with 9M 2024 
(full consolidation) 

Crisis Prevention Institute ended the first nine months of 2025 with revenues of $116 million, up +3.5% compared to 9M 2024. Of this increase, +2.7% was organic growth, -0.1% came from FX movements, and +0.9% came from scope effect (acquisition of Verge, in Norway, in January 2025). CPI experienced slower growth in North America (+1.3% vs. 9M 2024) amid ongoing federal oversight and funding uncertainty within CPI’s end markets. This was partially offset by volume growth in customer renewals and encouraging acceleration in activity across international markets up by +22% YTD (+14% organic YTD excluding Verge).   

On August 20, 2025, Andee Harris became CEO of CPI and a member of the company’s board of directors, following the retirement of CPI’s former CEO, Tony Jace. 

ACAMS – Revenue up by +9.9% as compared with 9M 2024
(full consolidation)

ACAMS, the global leader in training and certifications for anti-money laundering and financial-crime prevention professionals, reported revenue of $84.4 million for the first nine months of 2025 representing 9.9% compared to 9M 2024, or 9.1% after FX.

Results for the first nine months were driven by double-digit growth in the Americas segment, mainly from the sales of new certifications and 43% growth in conference sponsorship & exhibition. APAC reversed the negative trend from 2024 and was up 7% vs. prior year, offset by weaker performance in Europe which continues to be affected by softness in the European banking market.

Strategic investments made by ACAMS in the past few years are positively impacting performance, including the appointment of several new Executive Leadership Team members, including the Chief Commercial Officer as well as enhancements to the company’s technology platform and market expansion with the introduction of the Certified Anti-Fraud Specialist certification (CAFS).

Scalian - Decrease of total sales of -5.6% year-to-date, reflecting persistently tough market conditions for engineering services and digital services companies
Appointment of William Rozé as a CEO
(full consolidation) 

Scalian, a leading consulting firm in digital transformation and operational performance, reported total sales of €378.6 million as of September 30, 2025, a -5.6% decrease vs. last year. The slowdown is spread across several sectors and geographies and more pronounced in France and on automotive in Germany. Sales decreased by -10.2% on a like-for-like basis. This decline was partially offset by a positive scope effect of 4.5%, driven by acquisitions realized over the past months that were accretive to both growth and margin. 

As announced in September, William Rozé has now taken office as Chief Executive Officer. His in-depth knowledge of the Group’s businesses, combined with his unifying leadership, will be key to driving Wendel’s long-term development and strategic ambitions. 

Globeducate – Revenue growth of +12.1%13 over 9-month period ending August 31, 2025 

(Accounted for by the equity method. Globeducate acquisition was completed on October 16th, 2024. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 9 months revenue from December 1, 2024 to August 31, 2025).

Globeducate, one of the world’s leading bilingual K-12 education groups, recorded first nine months of 2025 with revenues of €269.8 million representing a total increase of +12.1% over last year. Of this increase, +7,2% was organic growth, +4.1% came from accretive M&A transactions and +0,8% came from FX movements.

Since the beginning of Globeducate’s fiscal year (September 1, 2024 – August 31, 2025), the Group has completed 3 acquisitions: Olympion School and the International School of Paphos in Cyprus, and l’Ecole des Petits in the UK. 

Return to shareholders

Interim dividend to be paid on November 20, 2025

In order to reflect the recurring cash flow generated by its dual business model, Wendel has decided to pay an interim dividend of €1.50 in November 2025 for the 2025 financial year corresponding to about one third of the total dividend paid for the previous financial year.

The payment schedule is as follows:

ex-dividend date: November 18, 2025 record date: November 19, 2025 payment date: November 20, 2025 The balance of the dividend for fiscal year 2025 will be submitted for approval at the next Shareholders’ Meeting, to be held on May 21, 2026.

Share buyback

Since the beginning of August 2025, Wendel has repurchased 183 064 shares for a total amount of 15 million euros.

Agenda

Friday, December 12, 2025

2025 Investor Day.

Wednesday, February 25, 2026

Full-Year 2025 Results – Publication of NAV as of December 31, 2025, and Full-Year consolidated financial statements (post-market release)

Wednesday, April 22, 2026

Q1 2026 Trading update – Publication of NAV as of March 31, 2026 (post-market release)

Thursday, May 21, 2026

Annual General Meeting

Wednesday, July 29, 2026

H1 2026 results – Publication of NAV as of June 30, 2026, and condensed Half-Year consolidated financial statements (post-market release)

About Wendel

Wendel is one of Europe’s leading listed investment firms. Regarding its Principal Investments strategy, the Group invests in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. In 2023, Wendel initiated a strategic shift into third-party asset management of private assets, alongside its historical principal investment activities. In May 2024, Wendel completed the acquisition of a 51% stake in IK Partners, a major step in the deployment of its strategic expansion in third-party private asset management and also completed in March 2025 the acquisition of 72% of Monroe Capital. As of September 30, 2025, Wendel Investment Managers manages 40 billion euros on behalf of third-party investors, and c.5.3 billion euros invested in its Principal Investments activity.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 

Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.

For more information: wendelgroup.com

Follow us on LinkedIn @Wendel 

Press contacts  Analyst and investor contacts Christine Anglade: +33 6 14 04 03 87          Olivier Allot: +33 1 42 85 63 73 [email protected] [email protected]     Caroline Decaux: +33 1 42 85 91 27             
[email protected]        Primatice   Olivier Labesse: +33 6 79 11 49 71   [email protected]   Hugues Schmitt: +33 6 71 99 74 58   [email protected]       Kekst CNC   Todd Fogarty: +1 212 521 4854   [email protected]
 
Appendix 1: Fully diluted NAV per share of €163.0 as of September 30, 2025

(in millions of euros)
 
  09/30/2025 06/30/2025 Listed investments Number of shares Share price (1) 2,271 3,088 Bureau Veritas 66.6m/89.9m(2) €26.1/€29.2 1,742 2,630 IHS 63.0m/63.0m $7.0/$5.7 377 307 Tarkett
  €17.0/€16.9 152 151 Investment in unlisted assets (3) 2,965 3,071 Asset Management Activities (4) 1,888 1 824 Asset Managers (IK Partners & Monroe) 1,821 1 775 Sponsor Money 67 49 Other assets and liabilities of Wendel and holding companies (5) 127 150 Net cash position & financial assets (6) 2,448 1,770 Gross asset value
 
  9,699 9,903 Wendel bond debt
 
  -2,381 -2,373 IK Partners transaction deferred payment and Monroe earnout -235 -235 Net Asset Value
 
  7,082 7,295 Of which net debt
 
  -169 -838 Number of shares
 
  44,512,038 44,461,997 Net Asset Value per share €159.1 €164.1 Wendel’s 20 days share price average
  €80.6 €86.6 Premium (discount) on NAV -49.3% -47.2% Number of shares – fully diluted 42,413,585 42,457,994 Fully diluted Net Asset Value, per share €163.0 €167.7 Premium (discount) on fully diluted NAV -50.6% -48.4% (1)  Last 20 trading days average as of September 30, 2025, and June 30, 2025. Tarkett share price as of September 30, 2025 is based on ongoing Tender Offer.
(2)  Number of shares adjusted from the Forward Sale Transaction of 30,357,140 shares of Bureau Veritas. The value of the call spread transaction to benefit from up to c.15% of the stock price appreciation on the equivalent number of shares is taken into account in Other assets & liabilities.

(3)  Investments in unlisted companies (Stahl, Crisis Prevention Institute, ACAMS, Scalian, Globeducate, Wendel Growth). Aggregates retained for the calculation exclude the impact of IFRS16. Globeducate valued based on transaction multiples.

(4)  Investments in IK Partners and Monroe (excl. Cash to be distributed to shareholders). Valued as a platform based on Net Income / Distributable earnings multiples.

(5)  Of which 2,098,453 treasury shares as of September 30, 2025 and 2,004,003 as of June 30, 2025.
(6)  Cash position and short-term financial assets of Wendel & holdings.

Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.If co-investment and managements LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 285 of the 2024 Registration Document.

Appendix 2: Loan-to-Value Ratio as of Sept.30, 2025

  Sept. 30, 2025 Total Assets as of September 30, 2025 (A) 7251
 
  Total cash as of 30/09/2025 2448
 
  Bond debt & accrued interest (2 381) IK Parners deffered payments & Monroe earnout                                            (236) Total debt as of Sept. 30, 2025                                       (2 617)
 
  Net debt (B) (169)
 
 
 
  Spot LTV before restatements (B/A) 2.3%
 
  Puts related to Monroe acquisition                                            (467) Funds Uncalled Commitments Monroe Capital                                            (119) Funds Uncalled Commitments IK Partners                                            (377) Total adjustments (C) (964)
 
 
 
 
 
  S&P LTV as of Sept. 30, 2025 (B+C)/(A+C) 13.8% Appendix 3: Glossary

AUM (Assets under Management): Corresponding – for a given fund – to total investors’ commitment (during the fund’s investment period) or total invested amount (post investment period). FRE (Fee-Related Earnings): Earnings generated by recurring fee revenues (mainly management fees). It excludes earnings generated by more volatile performance-related revenues. GP (General Partner): Entity in charge of the overall management, administration and investment of the funds. The GP is paid by management fees charged on assets under management (AuM). 1 Consolidated proforma FRE including minority interest, on a full-year basis, [email protected].

2 Stahl, Scalian, Globeducate, CPI and ACAMS.

3 Fully diluted of share buybacks and treasury shares. Without adjusting for dilution, NAV stands at €7,082m and €159.3 per share.

4 GAV excluding cash & other assets.

5 LTV calculation explained in Appendix 2.

6 Consolidated proforma FRE including minority interest, on a full-year basis, EUR/USD at spot rate.

7 Stahl, Scalian, Globeducate, CPI and ACAMS.

8 IK Partners et Monroe Capital

9 Commitments non invested

10 Fee Paying AuM

11 (Net cash flow generated from operating activities – lease debt repayments + income tax) / adjusted operating profit.

12 Total sales including wet-end activities and Weilburger

13 9 months revenue from December 1, 2024 to August 31, 2025. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. These figures are compared with the same period last year and are estimated and non-audited

Wendel_Q3_2025_EN

The cooperation with RAK Motors marks full market readiness for FX Super One’s entry into the UAE.
RAS AL KHAIMAH, United Arab Emirates, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF,” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced a strategic cooperation with RAK Motors, a Ras Al Khaimah-based automotive dealer. Under this cooperation, RAK Motors is authorized to provide sales, delivery, and after-sales services for the FX Super One in the UAE region.

RAK Motors, a long-established automotive distributor based in Ras Al Khaimah, has extensive experience in representing global automotive brands such as Toyota and Nissan. Under the cooperation, FF has authorized RAK Motors as its exclusive agent for the UAE market for up to one year, subject to special cases. They will oversee the full spectrum of sales and after-sales operations for the FX Super One in the UAE, covering both commercial and individual customers. This includes vehicle display and test-drive management, order fulfillment and delivery, and comprehensive after-sales and customer care services, all executed in close collaboration with and under the guidance of FF.

The strategic cooperation marks a significant milestone for FF — establishing a complete end-to-end ecosystem in the UAE that spans production, manufacturing, sales, and service for the FX Super One. Currently, FF UAE is building an international team of elite professionals. In May 2025, Faraday Future took possession of its Ras Al Khaimah regional facility and operations center in the UAE. Covering 108,000 square feet, the facility integrates offices, production workshops, and operational hubs, jointly supporting both the FF and FX brands. The facility will empower the Company to meet the diverse needs of customers across the Gulf Cooperation Council (GCC) countries, with the potential to expand into European and North African markets.

“This cooperation with RAK Motors marks the completion of all necessary preparations for FX Super One’s official entry into the UAE market. It also represents another key advancement in FF and FX’s Global Automotive Industry Bridge Strategy,” said FF Executive Vice President and Head of UAE, Tin Mok. “The Middle East will serve as a critical springboard for FF and FX’s future expansion into Europe, Africa, and other global markets.”

On October 28, Faraday Future will host the FX Super One Middle East Final Launch Event, “Super One, Palace of Intelligence,” at the Armani Hotel Dubai – Burj Khalifa. The first batch of FX Super One vehicles is scheduled for delivery in November 2025. This is a key step in its expansion to markets outside the U.S. and a pivotal moment in FF and FX’s “Three-Pole” strategy.

The event will be livestreamed on FF.com starting at 8:15 am PDT on October 28 at the following links:

English (Global) - https://www.ff.com/us/FX-SuperOne-UAE/English (Middle East Area) - https://www.ff.com/ae_en/FX-SuperOne-UAE/Chinese - https://www.faradayfuturecn.com/cn/FX-SuperOne-UAE/
ABOUT FARADAY FUTURE 
Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. For more information, please visit

https://www.ff.com/us/.  
  
FORWARD LOOKING STATEMENTS 
This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding future FX production, delivery and sales, as well as FF and/or FX expansion to additional international markets, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

  Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to secure agreements with OEMs to sell FX vehicles in the Middle East and elsewhere; the ability of OEMs and suppliers to timely delivery products and parts to the UAE; the Company's ability to homologate FX vehicles for sale in the Middle East and elsewhere; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; and the Company’s ability to continue as a going concern and improve its liquidity and financial position. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and Form 10-Q filed on August 19, 2025, and other documents filed by the Company from time to time with the SEC. 
  
CONTACTS 
Investors Relations (English):

[email protected]  Investors (Chinese):

[email protected] Media:

[email protected]  A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb544c60-4669-43c5-9ab7-5058a1423b24

Faraday Future Announces Strategic Cooperation with RAK Motors to Oversee FX Super One Sales and Ser...
Faraday Future Announces Strategic Cooperation with RAK Motors to Oversee FX Super One Sales and Ser...

CALGARY, AB / ACCESS Newswire / October 24, 2025 / At the request of CIRO, Mkango Resources Ltd. (AIM:MKA)(TSX-V:MKA) ("Mkango" or the "Company") wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

LONDON, UK / ACCESS Newswire / October 24, 2025 / TR-1: Standard form for notification of major holdings 1. Issuer Details ISIN GB00BP2C3V08 Issuer Name GENFLOW BIOSCIENCES PLC UK or Non-UK Issuer UK 2.