Market Signal Briefing

1inch stunned the market with a sharp 19.46% price jump in just 24 hours, building on a steady 4% gain from last week. What sparked this move? A strategic inflow of 5 million USDC into Binance stirred a near 29% intraday price surge. Coupled with a security upgrade featuring AI-powered threat detection, the token gained the confidence of traders. 

But most notably, 1inch cleared key moving averages, signaling a technical breakout that fueled buyer conviction. Wondering what’s in store? Join me as I explore potential price targets in this price analysis.

Active Addresses Go Steady?The active address count for 1inch has held relatively steady despite recent price volatility. Data from CryptoQuant shows a baseline of around 551 active addresses daily, with no dramatic spikes or drops correlating directly with price swings. 

This suggests cautious but consistent network engagement. Even as the 1inch price surged, the user activity stayed stable, reflecting a loyal holder base and steady participation in the ecosystem. Stable active addresses provide a healthy foundation for sustained trading volume and momentum growth.​

1Inch Network Price AnalysisOn a technical front, the 1inch price recently broke above its 7-day SMA at $0.165 and remained optimistic above this level. The RSI on a 7-period chart sits at 63.15, indicating a healthy neutral-to-bullish sentiment without entering overbought territory. 

Volume exploded, surging 542% to reach $168 million, confirming strong buyer interest and momentum behind the price move. The breakout also invalidated a descending channel that formed throughout October, signaling a reversal in the prior downtrend.

However, resistance looms near the 30-day Simple Moving Average at $0.184. The MACD histogram is positive, suggesting upward momentum, though a sustained close above this key resistance near $0.185 is crucial. 

A confirmed breakout here could open the door to $0.20, marked by the Fibonacci 23.6% retracement level. Until then, cautious optimism is warranted, keeping an eye on volume and RSI for confirmation of strength.​

FAQsWhy is the 1inch price up today?

A mix of USDC inflow into Binance, a security upgrade, and a technical breakout above key moving averages drove the price up sharply.

Is 1inch currently overbought?

No, the RSI at 63.15 shows bullish strength but not overbought levels yet, indicating room for price growth.

What key levels should traders watch next?

Watch the 30-day SMA near $0.184 and the $0.20 Fibonacci level for potential resistance or breakout points.

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SharpLink Gaming, the 2nd largest Ethereum treasury company, has made a bold prediction of a quick rebound in Ethereum price. Chairman Joseph Lubin and CIO Matt Sheffield highlighted historical data suggesting a strong rebound in prices after tax loss harvesting and the government shutdown.

Will Ethereum Price See a Quick Rebound as SharpLink Predicts?
Ethereum price action remains tepid after the October 10 crypto market crash, which was the largest near-instantaneous loss of wealth and deleveraging the industry has ever seen. The liquidation size was even larger than FTX, requiring entities that had off-exchange leverage to pay down their credit by selling quality assets such as Bitcoin and Ethereum.

It’s important to consult history to put into perspective how major the liquidations of Black Friday (Oct 10) were, and what we could expect a recovery to look like,” said Matt Sheffield, CIO at SharpLink Gaming. He added that investors, including institutional investors, are witnessing a tightened credit scenario similar to the aftermath of FTX crisis.

He claimed that institutional investors get more defensive lending while they assess borrower credit worthiness, adjust risk models to be more conservative, and sell margin assets BTC and ETH for that credit.

SharpLink CIO claimed firms are harvesting tax losses as the crypto market crash happened near the year-end. This results in an increase in selling pressure on Ethereum price and other crypto assets.

He expects a subsequent relief rally to be swift and strong when the selling pressure subsides, which took almost a month and a half following the FTX crisis. “History is going to rhyme at best. The longest government shutdown in US history coinciding with this liquidation event throws a bit of a wrench in things in terms of timing the resolution,” he added.

Joseph Lubin Supports SharpLink CIO’s Ethereum Price Prediction
Notably, the crypto market is more resilient than in 2022. As per SharpLink CIO, “Whether this subsides tomorrow, or in a matter of weeks, nobody can say. But all government shutdowns do, all access to credit resets, and then when the market is offsides, things can reverse swiftly.”

SharpLink chairman Joseph Lubin backs Matt Sheffield’s prediction. He claims Ethereum price has the potential to make one of the strongest rebounds. A 90% rebound based on historical data will make Ethereum price hit a new all-time high (ATH).

SharpLink has been steadily building a world class team for the long haul. And yes, for the near term as well.

Matt @sheffieldreport is one of the sharpest minds at the intersection of DeFi and TradFi and he is surrounded on the team by equally gifted De/Trad Fi specialists.… https://t.co/Bv56DSXrQL

— Joseph Lubin (@ethereumJoseph) November 6, 2025

Whale Accumulating ETH Heavily
Whale activity has surged notably over the past week, coinciding with Ethereum’s dip toward key technical supports. Lookonchain reported that whales purchased more than 394,68 ETH worth $1.37 billion over the last 3 days, signaling renewed accumulation on dips.

This indicates long-term holders and ETH whales anticipating a recovery in Ethereum price. Analysts recommended a potential entry before the next rally. Meanwhile, institutional involvement continues to strengthen confidence as Tom Lee’s Bitmine Immersion continues to expand its Ethereum holdings.

Ethereum price is trading near $3,400, up 3% in the past 24 hours. The 24-hour low and high are $3,275 and $3,479, respectively. However, trading volume has decreased by 50% in the last 24 hours, signaling cautious sentiment among traders.

Ethereum hit $3,277, its lowest level in four months, with sellers dominating trading on the Binance exchange.

Ethereum (ETH) fell to a four-month low of $3,160 yesterday, erasing its yearly gains and sparking a wave of liquidations.

However, despite this seller-driven downturn, some market analysts believe that the asset’s core upward trend remains unbroken and that it can still reach $5,000 by year-end.

Selling Pressure Deepens, but Buyers Stay Hopeful
The world’s second-largest cryptocurrency by market cap went through some heavy volatility this week, dropping as low as $3,160 before a modest rebound.

However, CryptoQuant analyst PelinayPA has pointed out that the Taker Buy-Sell Ratio on Binance has been hovering just below 1.0, confirming that the market is dominated by sellers. She noted that while the dynamic “creates short-term downward pressure,” it does not suggest panic. Instead, she described it as controlled profit-taking within an ongoing uptrend and expects ETH to find strong buyer interest around the $2,955 to $3,000 zone before resuming its climb toward $5,000.

“I believe the price will find buyers around this level,” the trader wrote. “The main trend remains upward, and I expect these buyers to potentially push the price toward $5,000 by the end of the year.”

Similarly, chart technician Ted Pillows identified $3,500–$3,600 as the key zone to reclaim for any bullish momentum to emerge. According to him, the asset could be pushed back toward the $2,800 support area if it fails to break above that range.

Network Activity Slows as Price Consolidates
Beyond the charts, Ethereum’s network fundamentals have also weakened, with daily active addresses cratering by 24% since mid-August. In the past, when there was less activity on the blockchain, prices tended to go down as well, because there were fewer transactions and less interest in dApps.

Meanwhile, at the market, CoinGecko data shows ETH is down 12.2% in the last seven days and 28% across the month, underperforming Bitcoin’s modest rebound. The ETH/BTC ratio stands at 0.03284 BTC, indicating a shift in capital toward Bitcoin. However, Ethereum is trading above its two-year trendline support, which it has held since 2022. Many observers consider this structure to be the last major defense before a potential bounce.

You may also like:

Here’s Why Bitcoin’s (BTC) Crash Is a Sentiment Flush, Not a Structural Breakdown

$1.1B in Longs Wiped as ETH Crashes Below $3.3K, Erasing 2025 Gains

Solana Just Booked Its Second-Biggest Week in History Despite Choppy Market

For now, sentiment remains mixed. Liquidity clusters around $2,800–$3,000 are drawing attention as potential accumulation zones, while bulls are looking to reclaim $3,600 to confirm renewed strength. But with both technical and macro pressures in play, including U.S. Federal Reserve tightening and ongoing liquidity outflows, traders appear cautious.

Still, as PelinayPA’s analysis suggested, the broader trend remains constructive. If Ethereum can defend its current support and regain key resistance zones, the path toward $5,000 by year-end may still be within reach, albeit a steeper climb than once expected.

Tags:

Fintech

Ripple is taking a decisive step toward merging blockchain with traditional finance through a new alliance involving Mastercard, WebBank, and Gemini.

The companies are collaborating on a pilot that uses Ripple’s RLUSD stablecoin for card payment settlements, signaling how digital assets could quietly power transactions behind the scenes of familiar financial products.

From Experiment to Real-World Application
The pilot, revealed at Ripple Swell 2025, will focus on processing settlements through the XRP Ledger—Ripple’s blockchain known for its speed and low fees. Rather than reinventing how people pay, the initiative targets what happens after the swipe: how banks, issuers, and networks move funds between one another.

Swell 2025: We have closed a $500 million strategic investment at a $40 billion valuation, led by Fortress Investment Group and Citadel Securities: https://t.co/orsBjdkWbE

→ $95B+ in total Ripple Payments payment volume
→ $1B+ $RLUSD stablecoin market cap
→ 6 strategic…

— Ripple (@Ripple) November 5, 2025

Ripple believes RLUSD can help make that process instantaneous and transparent while satisfying compliance and regulatory requirements. For Mastercard, this experiment offers a way to test blockchain’s potential in a controlled, regulated environment without altering the everyday consumer experience.

Mastercard’s Strategy: Innovation With Guardrails
Executives at Mastercard emphasized that any adoption of blockchain-based settlement must uphold the company’s high safety and regulatory standards. The network is approaching stablecoins cautiously—treating them as another settlement rail to be tested and refined rather than a wholesale replacement for existing systems.

By exploring RLUSD settlement with WebBank, which issues the Gemini Credit Card, Mastercard aims to validate the technology’s ability to deliver efficiency and accountability at scale. This fits with its ongoing strategy of experimenting with regulated digital assets while maintaining its global compliance framework.

READ MORE: Web3: A Beginner’s Journey Into the Decentralized Internet

Ripple’s Broader Mission to Modernize Settlement
For Ripple, the partnership strengthens its long-term vision of making cross-platform money movement faster and cheaper. After securing $500 million in new funding earlier this year, the company has focused heavily on institutional products. Ripple President Monica Long described the RLUSD pilot as a milestone that shows how blockchain can quietly enhance financial infrastructure instead of disrupting it.

Long noted that more institutions now recognize blockchain as a settlement engine rather than a speculative instrument. With the XRP Ledger’s rapid confirmation times and low transaction costs, Ripple hopes RLUSD can become a model for future digital settlement tools across banking and payments.

Gemini and WebBank Connect Crypto With Consumers
For Gemini, whose credit card already integrates digital rewards into everyday spending, the RLUSD pilot marks the next step in bringing blockchain utility to mainstream users. The company views it as proof that crypto can add real efficiency to the financial system without changing how consumers shop or pay.

WebBank echoed that sentiment, saying banks are uniquely positioned to connect regulated finance with blockchain innovation. The Utah-based institution sees stablecoin settlement as a way to move funds between partners more fluidly while preserving trust and oversight.

A Glimpse Into the Future of Payments
If successful, the RLUSD pilot could pave the way for more card programs and financial networks to incorporate stablecoin settlement. For Ripple and its partners, the experiment isn’t about replacing fiat but refining the mechanics that move it—quietly bringing blockchain into the background of global payments.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Technicals for Chainlink have turned largely bearish as whales continue to offload their holdings to lock in profits.

Summary

Chainlink price is down 16% over the past week.
Whale selloffs have played a major role in LINK’s recent losses.
The token’s price action appears to be nearing a bearish breakout from a symmetrical triangle.

According to data from crypto.news, Chainlink (LINK) price dropped to an intraday low of $14.57 on Wednesday, Nov. 5, before settling a little higher at $15.15 at press time. At this price, the altcoin is down 16.4% over the past 7 days and 36% lower than its October high.

Chainlink’s price declined as whales continued offloading their holdings, likely to lock in profits. Data from Nansen shows that the total balance of LINK tokens held by whales has dropped from 2.59 million on Oct. 31 to 1.87 million recorded today.

Source: Nansen
Such a trend of mass dumping by whales typically triggers panic among retail investors, who may also start selling, adding further pressure on the token’s price in the coming days, especially amid a weakening presence in the DeFi space.

The total value locked (TVL) on DeFi protocols using the Chainlink network has declined from over $1.1 billion in August to $650 million at press time, while weekly fees have dropped by 40% since mid-September, data from DeFiLlama show.

These bearish signs add up at a time when Chainlink price is close to confirming a major bearish setup that could potentially trigger a sharp correction for weeks to come.

Chainlink price analysis
Chainlink price has been trading within a multi-year symmetrical triangle that it entered following its drop in August 2024. A symmetrical triangle is a neutral pattern characterized by converging trendlines, one descending and one ascending, reflecting a period of consolidation. However, a break below the lower trendline of the pattern is usually considered a bearish signal that can lead to further downside.

Chainlink price is eyeing a bearish breakout from a symmetrical triangle on the weekly chart — Nov. 6 | Source: crypto.news
Since mid-August this year, its price has been on a steady downtrend, edging closer to the lower trendline and now appears likely to break below it, as other technical signals seem to support a bearish move.

Notably, the MACD lines have formed a bearish crossover, while the RSI has been in a sustained downtrend after hitting near overbought levels earlier in August. Both these indicators point to fading bullish momentum and rising selling pressure.

When taken together, they appear to signal an upcoming crash in the token’s price.

For now, $14.88, which aligns with the 38.2% Fibonacci retracement level, acts as the immediate support. A breakdown below this level could open the path for a deeper correction toward $11.

A drop to that level would then confirm a bearish breakout from the symmetrical triangle and could signal a larger crash to $4.89, or even lower, if bearish momentum persists.

Bullish fundamentals still at play
The bearish technical setup for Chainlink price contrasts sharply with a backdrop of strengthening fundamentals marked by a surge in adoption of its services.

On Nov. 6, SBI Digital Markets named Chainlink’s CCIP as its exclusive interoperability infrastructure for its tokenized asset platform, as it deepened its integration into institutional finance.

Separately, Chainlink is powering the on-chain launch of the S&P Digital Markets 50 Index. Chainlink will provide real-time, verified data for the crypto–equity hybrid benchmark via its oracle network in partnership with Dinari and S&P Dow Jones Indices.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Solana price is showing early signs of recovery after recent declines, supported by steady inflows into SOL ETFs.

Summary

SOL is showing signs of upward momentum after a recent decline to $150, increasing by 1.18% on the daily chart.
The rebound comes amid sustained inflows into SOL-tracking exchange-traded funds (ETFs).
The US government shutdown, which has lasted for 37 days, is adding uncertainty to the crypto market, with the Fear and Greed Index dropping to 24.
Immediate support is at $159, with further support around $150. Resistance is at $175, and reclaiming this level could turn sentiment bullish.

Solana price is currently gathering upward momentum for a potential rebound past the $160 level after a recent decline to $150 following a huge liquidation in the crypto market. Crypto.news data shows the asset has increased by 1.18% on the daily chart, signaling a shift towards positive momentum.

This rebound comes as exchange-traded funds tracking Solana (SOL) continue to see inflows, with recent data from SoSovalue showing significant activity. Over the past seven days, SOL ETFs have recorded substantial inflows, including a peak of $70.05 million on November 3. 

However, there has been a sharp decline since then. On Nov 4, the inflows dropped to $14.83 million, and by Nov 5, the inflows further dipped to $9.70 million. The contributions for the latest inflow came from Bitwise BSOL and Grayscale’s GSOL, with $7.46 million and $2.24 million, respectively. 

The decline is likely fueled by broader negative sentiment across the crypto market, as well as ongoing macroeconomic challenges, such as the U.S. government shutdown.

The shutdown, now in its 37th day, is the longest in U.S. history and has caused significant uncertainty, impacting liquidity across both traditional and crypto markets. This has been reflected in the Fear and Greed Index, which recently dropped to 24, signaling heightened caution among investors.

Solana price still under bearish control amid SOL ETF inflows
Despite the minor price uptick, the Solana price trades below the 9-day Simple Moving Average (SMA) of $175.85, which may indicate a bearish sentiment in the short term. Technical indicators show the cryptocurrency is under bearish control.

The RSI sits at 33.58 in oversold territory, indicating that the market may be under pressure, but it could also signal a potential reversal or a buying opportunity if the price stabilizes and reverses its course.

Immediate support for Solana price lies around $159, as this level has held well despite recent fluctuations. If SOL continues to weaken, the next potential support level could be $150, where buyers might step in to prevent further declines.

On the upside, the resistance is seen at $175, which aligns with the recent SMA and serves as a key level for any potential recovery. Should SOL manage to reclaim $175, it could signal a shift towards a more neutral to bullish trend, potentially testing $180 as the next significant resistance level.

Solana price chart amid SOL ETF inflows | Source: crypto.news

The crypto market just faced one of its sharpest shocks in months. Bitcoin briefly fell below $100,000, erasing nearly $2 billion in market value within hours. The sudden drop sent fear rippling through the community.

But according to financial analyst Shanaka Anslem Perera, this panic might be the final shakeout before Bitcoin began its bull run, a setup he calls the $6 trillion endgame.

A Reset, Not a CollapseAccording to on-chain data, nearly 29% of Bitcoin’s supply is now in loss, meaning those coins were purchased at higher prices. While that might sound bearish, Perera explains it’s actually the same signal that appeared before every major Bitcoin rally in history, including 2017, 2021, and 2024.

Each time, Bitcoin followed with 150% to 400% gains within six months. This percentage represents what analysts call a “mid-cycle reset.” It’s the point where newer investors sell in fear while long-term holders quietly accumulate. It’s not a collapse, it’s a clean-up before the next leg higher.

Further the analyst explains that even though some platforms show over 97% of wallets in profit, it doesn’t tell the full story.

Many of those wallets belong to early buyers who purchased Bitcoin at much lower prices. This makes the number look higher than it really is, while many new investors are actually at a loss, a setup often seen before big rallies.

Perera suggests that the global financial system, with over $100 trillion in circulating fiat money (M2), is gradually shifting toward scarce, hard assets like Bitcoin.

He calls this shift the “$6 trillion endgame” because he believes that eventually, trillions of dollars from traditional markets, bonds, and cash reserves will move into Bitcoin and crypto, potentially creating a multi-trillion-dollar market cap for Bitcoin alone.

Market Flush The Panic SellerOver $19 billion in leveraged positions have recently been wiped out, pushing open interest down by 42%. With funding rates now at near-zero, the overheated derivatives market has cooled completely.

This matters because it removes the “forced sellers,” the traders whose liquidations often trigger chain reactions. The market is now what Perera describes as “sterilized and stable,” giving Bitcoin a solid foundation for organic growth.

Whales and Institutions Are Quietly BuyingWhile retail traders panic, long-term holders now control about 70% of Bitcoin’s circulating supply, showing no signs of selling. Meanwhile, institutions have been quietly accumulating through ETFs, with inflows topping $149 billion.

Even stablecoin supply, often seen as “dry powder” for buying, has expanded by $50 billion since July, all indicating strong liquidity waiting to re-enter.

Once the pattern plays out, Perera believes the next 180 days could mark the start of Bitcoin’s next bull run.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

TLDR:

Tangem Pay lets users spend Polygon-based USDC using a Visa virtual card tied to their Tangem Wallet.
The rollout begins in November 2025 across the U.S., Latin America, and Asia-Pacific regions.
Tangem’s hybrid model keeps funds on-chain while meeting payment and compliance standards.
A UK and EU expansion will follow in 2026 under MiCA regulatory alignment.

Tangem is launching Tangem Pay, a new non-custodial payment account that lets users spend USDC directly via a virtual Visa card. 

The company confirmed that the rollout will begin in late November, activating users across the United States, Latin America, and Asia-Pacific in phases. The feature is built into the Tangem Wallet app, allowing users to load Polygon-based USDC and make instant transactions.

This release comes as stablecoins continue to dominate crypto payments, holding a market capitalization above $300 billion. Visa’s own research indicates strong user interest, with over 60% of crypto holders wanting to use digital assets for everyday spending. 

Tangem aims to meet that demand while preserving crypto’s core value: self-custody.

Unlike custodial crypto cards, Tangem Pay ensures that funds remain on-chain and under the user’s control. Every transaction converts USDC to USD at a 1:1 rate during payment, creating a smooth bridge between blockchain assets and real-world commerce.

Tangem partnered with Rain, an independent issuer, and Paera LLC, a U.S.-based payments firm, to power the system. Users must complete KYC verification for regulatory compliance, though Tangem states that identity data never leaves Rain’s oversight.

Rollout Spans Three Continents Before European Launch in 2026
The rollout will start with 33 U.S. states, including New York, California, Texas, and Illinois. In Latin America, 29 countries are part of the first wave, followed by Japan, Singapore, Australia, and several others across Asia-Pacific and Africa. 

Users in these regions can join the waitlist through the Tangem app to gain early access.

The company confirmed there will be no transaction or monthly fees for Tangem Pay users. Standard Polygon gas costs and Visa’s foreign exchange rates will apply to purchases outside the United States. 

For now, the system supports only native USDC on Polygon, but Tangem plans to add more stablecoins and networks in future updates.

In its announcement, Tangem said the UK and EU launch will follow in Q1 2026. That phase will align with the EU’s Markets in Crypto-Assets (MiCA) framework, aiming to expand stablecoin payment adoption under regional compliance rules.

The approach combines blockchain transparency with established financial infrastructure, creating a hybrid model for crypto payments. By maintaining self-custody and integrating with Visa, Tangem Pay positions itself as a practical bridge between decentralized finance and traditional commerce.

Bitcoin price upside stayed limited as suspicions rose over the owner of a large wall of sell orders stretching to the $112,000 mark.

Bitcoin (BTC) price has entered November on a cautious note, trading around $103,000 after failing to reclaim the $112,000 mark set earlier in October. The broader crypto market is mirroring Bitcoin's slowdown, with major altcoins showing limited movement as traders digest macro cues and ETF flow data.

The steelmaker said it expects a potential earnings before interest, taxes, depreciation and amortization increase of $2.1 billion in coming years.

Lululemon is one of the few foreign brands seeing consistent growth in China. The company's China CEO San Yan Ng sees more opportunities ahead in China's second and third tier cities.

Q3: 2025-11-05 Earnings SummaryEPS of $0.55 beats by $0.16

 |

Revenue of

$224.17M

(20.77% Y/Y)

beats by $5.20M

Workiva Inc. (WK) Q3 2025 Earnings Call November 5, 2025 5:00 PM EST

Company Participants

Katie White - Senior Director of Investor Relations
Julie Iskow - CEO, President & Director
Jill Klindt - Executive VP, CFO & Treasurer

Conference Call Participants

Robert Oliver - Robert W. Baird & Co. Incorporated, Research Division
Steven Enders - Citigroup Inc., Research Division
John Messina - Raymond James & Associates, Inc., Research Division
Jacob Roberge - William Blair & Company L.L.C., Research Division
Brett Huff - Stephens Inc., Research Division
Greyson Sklba - Goldman Sachs Group, Inc., Research Division
Andrew DeGasperi - BNP Paribas, Research Division

Presentation

Operator

Good afternoon, ladies and gentlemen. Welcome to Workiva's Third Quarter 2025 Earnings Call. My name is Chuck, and I will be your host operator on this call. [Operator Instructions] Please note that this call is being recorded on November 5, 2025, at 5:00 p.m. Eastern Time. I would now like to turn the meeting over to your host for today's call, Ms. Katie White, Senior Director of Investor Relations at Workiva. Please go ahead.

Katie White
Senior Director of Investor Relations

Good afternoon, and thank you for joining Workiva's Q3 2025 Conference Call. During today's call, we will review our third quarter results and discuss our guidance for the fourth quarter and full year 2025. Today's call will include comments from our Chief Executive Officer, Julie Iskow, followed by our Chief Financial Officer, Jill Klindt. We will then open up the call for a Q&A session, where we will be joined by Mike Rost, our Chief Strategy Officer.

After market closed today, we issued a press release, which is available on our Investor Relations website, along with supplemental materials. This conference call is being webcast live, and following the call, an audio replay will be available on our website.

During today's call, we

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xx

THIRD QUARTER 2025

November 6, 2025

Stable operating result at €1.2 billion with operating margin at 13.1%

Group revenues up 2.6% year-on-year to €9.2bn, driven by Passenger network, Transavia and Maintenance.Unit revenue at constant currency down -0.5% due to Cargo and Transavia, while group capacity went up by 5.1% and fuel price after hedging decreased by 8.9%. Solidarity tax on tickets (“TSBA”) and Schiphol tariff impacting unit revenue significantly.Unit cost increase is moderating to +1.3%, coming down as expected, despite increase in Air Traffic Control and airport charges (Schiphol tariff +41%) and limited by productivity gains.Operating result improvement, up €23m compared to Q3 2024, which was impacted by the Olympic Games, to €1,203m. Strong cash flow performance: recurring adjusted operating free cash flow positive at €0.7bn for the first 9 months, up €0.7bn year-on-year.Leverage (Net debt/Current EBITDA ratio) at 1.6x.Solid cash at hand of €9.5bn at end September 2025. Fleet renewal accelerating, up 8 points year-on-year, with 32% share of next generation aircraft. FY 2025 outlook reconfirmed

For 2025 the Group expects:

Capacity up by 4-5% compared to 2024.Unit cost to increase by a low single digit compared to 2024.Net capital expenditures between €3.2bn and €3.4bn. Leverage between 1.5x and 2.0x. Commenting on the results, Mr. Benjamin Smith, Group CEO, said:

“During the third quarter, Air France–KLM once again demonstrated its resilience in a challenging environment. We maintained solid revenue growth and a stable operating margin, while cash generation remained strong over the first nine months - confirming the benefits of our continued focus on execution. Premium cabins performed exceptionally well across both Air France and KLM, further reinforcing our confidence in our premiumization strategy. Our fleet renewal continued to progress, with one-third of our aircraft now next-generation, quieter, and more fuel-efficient - a key milestone advancing both our sustainability ambitions and our customer experience. This progress is amplified by the rollout of free high-speed Wi-Fi at Air France, a true game changer for our customers. We expect 30% of the Air France fleet to be equipped by the end of 2025. Finally, we continued to broaden our global reach with new routes and strategic partnerships, further strengthening the Group’s network and competitive positioning”.

Q3 Group unit revenue broadly stable at constant currency and limited increase in unit cost

 Third QuarterYear to date 2025changechange
constant currency2025changechange
constant currencyGroup Passengers (thousands)29,171+4.7% 78,239+5.1% Group Capacity (ASK m)92,265+5.1% 252,559+4.4% Group Traffic (RPK m)81,908+4.5% 221,257+4.1% Group Passenger load factor88.8%-0.5pt 87.6%-0.3pt  Third QuarterYear to date 2025changechange
constant currency2025changechange
constant currencyRevenues (€m)9,213+2.6%+4.8%24,822+5.3%+6.1%Operating result (€m)1,203+23+351,611+407+441Operating margin (%)13.1%-0.1pt-0.2pt6.5%+1.4pt+1.5ptNet income (€m)768-56 1,168+658 Group unit revenue per ASK (€cts)9.10-2.4%-0.5%8.84+0.6%+1.5%Group unit cost per ASK (€cts)¹7.67 +1.3%8.10 +2.0% 1) at constant fuel, constant currency and excluding ETS

 30 September 202530 September 2024Operating Free cash flow (€m)1,47428Adj. recurring operating free cash flow* (€m)71523 *IFRS Operating free cash flow corrected from the repayment of deferred social charges, pensions contributions and wage taxes granted during the Covid period and payment of lease debt and interests paid and received

 30 September 202531 Dec 2024Net Debt (€m)7,7877,332Current EBITDA trailing 12 months (€m)4,9054,244Net Debt/Current EBITDA ratio1.6x1.7x Operating result improvement driven by fuel price evolution

In the third quarter of 2025, Air France-KLM welcomed 29.2 million passengers which is 4.7% above last year. As capacity increased by 5.1% and traffic by 4.5%, the load factor decreased slightly from 89.3% to 88.8%.

The Group unit revenue per ASK was down -0.5% year-on-year at constant currency, due to a reduction in Cargo unit revenues (-5.1% at constant currency) and Transavia unit revenues             (-2.8%). Passenger network showed a positive unit revenue development of +0.5% driven by premium cabins and long haul.

Passenger yields increased year on year for all long-haul areas while the load factor decreased for all long-haul areas except Caribbean and Indian Ocean (stable).

The operating result rose €23 million year-on-year to €1,203 million, with a stable margin of 13.1%. This operating result improvement was supported by a €107 million decrease in fuel price, partly offset by a 0.5% decline in unit revenues and a limited, as expected, increase of 1.3% in unit costs.

Q3 unit cost1 was up 1.3% as a consequence of the below elements:

+0.1% cost representing the net result of: +0.6% from labour price -1.3% from productivity benefits+0.8% from operations +0.6% due to an increase in Air Traffic Charges and Airport Charges, especially due to the 41% tariff increase at Schiphol+0.6% due to premiumization of the cabin driving unit revenue gains Cash

For the first nine months of the year, the Group reported a positive operating free cash flow of €1,474 million, driven by a strong EBITDA (+€661m year on year) and by a positive working capital movement of €402 million, although impacted by the payment of deferrals inherited from the pandemic which amounted to €369 million. Net capex amounted to €2,567 million. Recurring adjusted operating free cash flow2 reached €715 million, an increase of €692 million year-on-year which was almost fully driven by the EBITDA improvement.

Net debt increased to €7.8 billion, up €455 million. The increase is mainly explained by the deferrals from the pandemic impacting the positive operating free cash flow of €1.5 billion. The new and modified lease debt amounted to €1.7 billion which was driven by fleet renewal and extension of current leases to cover delivery delays.

The leverage ratio stood at 1.6x, in line with the Group’s ambition of 1.5x to 2.0x.

At the end of September 2025, cash at hand stood at €9.5 billion, above the targeted range of €6–8 billion and slightly higher than at year-end 2024.

During the first nine months of 2025, the following financial transactions took place:

The redemption in January of the remaining €515.2 million principal amount of the €750 million 1.875% notes due 16 January 2025 (ISIN: FR0014477254). The redemption, via the Group’s own liquidity, underscores the robustness of its financial position.The successfully priced issuance in May of €500 million hybrid bonds (3.5x oversubscribed), at an annual fixed coupon of 5.75% (yield at 5.875%) until the first reset date. The Hybrid Bonds, undated and deeply subordinated, were rated BB by Fitch and B+ by S&P and do qualify for 50% equity credit with both rating agencies. In July Air France-KLM fully redeemed the perpetual bonds issued in July 2022 for an amount of €500 million. These bonds were issued by an operating affiliate of Air France, that owns a pool of spare engines dedicated to the airline’s Engineering and Maintenance activities and was fully subscribed by Apollo affiliated entities.In August AF-KLM successfully placed a €500 million senior unsecured notes under its EMTN (Euro Medium Term Notes) Programme. The maturity of the notes is 5 years, and the notes carry a fixed annual coupon of 3.75% (yield at 3.866%) and lowest credit spread for a bond issued by AF-KLM. Above transactions enable the Group to simplify its balance sheet and optimize its cost of financing while maintaining financial flexibility. The Group’s strategy is to reduce the stock of subordinated instruments on its balance sheet. On October 15, the Group announced that it has decided to exercise its option to redeem all of the outstanding hybrid convertible bonds from the First Hard Call Date at a price per HC Bond equal to par (€100,000), in total €305 million plus accrued interest of €1,625 (the “Redemption price”) per HC bond, which shall be payable on Monday 24 November 2025. This redemption will be fully done via our own cash.

FY 2025 outlook reconfirmed

The Group expects

Capacity in Available Seat Kilometers for Air France-KLM Group including Transavia to increase by 4 to 5% in 2025 compared to 2024Unit cost3 to increase by a low single digit compared to 2024Net capital expenditures between 3.2 and 3.4 billion eurosLeverage ratio (net debt/Current EBITDA ratio) between 1.5x and 2.0x Sustainability

Sustainability is a collective responsibility, and Air France- KLM is committed to play its role. The Group supports the adoption of ambitious environmental targets, advocating for an industry- wide transformation that ensures a global level playing field.

Air France-KLM has become the first airline group to cooperate with the European Union Aviation Safety Agency (EASA) in supporting the development of the upcoming EU Flight Emissions Label (FEL) — a key initiative designed to provide passengers with more information on the environmental footprint of their flights.

Endorsed by the European Commission, this cooperation aims to equip consumers with standardized, reliable data on CO₂ emissions and energy efficiency for flights within Europe. The goal is to enable clients to make informed decisions when booking air travel. As part of this partnership, Air France-KLM will actively contribute by testing and providing feedback on EASA’s FEL portal, as well as on the technical and methodological design of the label, drawing on its operational expertise to help shape the future label. The Group’s participation underlines its commitment to working with regulators and industry partners to drive forward collective climate action in aviation.

Fleet Renewal

On August 25, 2025, Air France received its 46th Airbus A220-300 in Paris, delivered from Airbus’ Mirabel site in Canada. This ferry flight marked a first: the aircraft was delivered with a blend containing 50% SAF - an alternative to conventional fossil based aviation fuel - certified directly by Airbus. This milestone reflects the Air France-KLM Group’s commitment to accelerating the decarbonization of air transport.

Fleet renewal is a cornerstone of the Group’s Transition Plan. With fuel consumption and CO₂ emissions reduced by 20% per seat-kilometer compared with previous-generation aircraft, the Airbus A220 embodies this ambition.

In 2025 the Group took delivery of 38 new-generation aircraft across all its airlines. In the third quarter 1 A350, 2 B787-10, 6 A320/321neo family, 3 A220 and 2 E195-E2 were delivered.

These major investments – totaling more than €2 billion per year – are contributing to a fleet that could be composed of up to 80% new-generation aircraft by 2030.

At the end of September 2025, 32% of the Group’s fleet consisted of new-generation aircraft.

 30 September 202530 September 2024ChangeNew generation fleet432%24%+8pt Post quarter events

Air France-KLM announced on the 23rd of October that it has completed the acquisition of a 2.3% stake in Canadian carrier WestJet. This transaction was initially announced on May 9th, 2025.

Air France-KLM purchased that stake from its joint venture partner Delta Air Lines, which had taken a 15% minority stake in WestJet, as part of a previously announced separate transaction also involving Korean Air’s purchase of a 10% interest. That transaction closed on October 22nd, 2025. Air France-KLM further reinforces its commercial cooperation with the Canadian carrier and strengthens its footprint in the North American market.

WestJet, Canada’s second largest airline and the leading carrier in Western Canada, has been a partner of Air France-KLM since 2009 through codeshare- and loyalty program agreements. The airline ranks as Air France-KLM’s sixth largest partner in terms of enabled revenues. The partnership continues to strengthen as WestJet expands its long-haul network between Canada and Europe, offering more than 100 destinations that complement Air France-KLM’s network of over 300 destinations worldwide.

Business review

Network result

NetworkThird QuarterYear to date2025changechange
constant currency2025changechange
constant currencyTraffic revenues (€m)7,139+1.3% 19,574+4.1% Pax traffic revenue6,686        +1.7        % 18,127        +4.0        % Cargo traffic revenue453        -3.8        % 1,447        +5.3        % Total revenues (€m)7,400+0.7% 20,379+3.7% Salaries and related costs (€m)-1,760+2.2% -5,191+3.8% Aircraft fuel, excl. ETS (€m)-1,437-12.3% -4,270-10.2% Other operating expenses (€m)-2,715+6.4% -7,915+7.4% Depreciation & Amortization (€m)-598+11.4% -1,639+6.8% Operating result (€m)889-10+81,363+374+416Operating margin (%)12.0%-0.2 pt 6.7%+1.7 pt  Compared to the third quarter of 2024, total revenues increased by +0.7% to €7,400 million. The operating result reached €889 million, up €8 million year-on-year at constant currency, mainly driven by a fuel price reduction.

The operating margin amounted to 12.0%, a decrease of -0.2 points compared to the third quarter of 2024.

Slight growth in unit revenues despite soft trading environment

Passenger networkThird QuarterYear to date2025changechange
constant currency2025changechange
constant currencyPassengers (thousands)20,913+2.0% 57,902+2.9% Capacity (ASK m)75,962+3.4% 212,383+2.9% Traffic (RPK m)67,445+2.9% 185,712+2.7% Load factor88.8%-0.4pt 87.4%-0.2pt Total passenger revenues (€m)6,851+1.0%+3.1%18,629+3.7%+4.6%Traffic passenger revenues (€m)6,686+1.7%+3.9%18,127+4.0%+4.9%Unit revenue per ASK (€ cts)8.80-1.7%+0.5%8.53+1.0%+1.9% During the third quarter of 2025, capacity in Available Seat Kilometers (ASK) was 3.4% higher than last year. Traffic growth (+2.9%) has led to a slightly lower load factor of 88.8%. Yield at constant currency showed an increase of 0.9%, leading to a unit revenue increase of 0.5% year-on-year at constant currency. The yield increase was fully driven by strong performance of premium cabins, La Premiere and business class, and by the premium economy cabin. Yield in the economy class was negative.

During the third quarter we observed the following trends in:

North Atlantic

Unit revenue was broadly stable despite a 4.8% capacity increase. The performance was strong in premium cabins with positive yields while economy cabin yield remained under pressure

Latin America

Unit revenue grew on the back of strong yields (+2.8%), while load factor was stable at 91% and capacity increased by 9.2%. The balance between industry supply and demand remained favorable across the quarter.

Asia & Middle East

Continued strong performance on Japan, Korea & South-East Asia, as well as Middle East where unit revenue was up 6%. Load factor was broadly stable at 90% and capacity showed an increase of almost 2%.

Caribbean & Indian Ocean

Capacity was stable during the quarter enabling Air France and KLM to grow their yields which drove an increase in unit revenue of around 4%. Load factor remained stable at 88%.

Africa
Capacity (+1.5%) and yields (+1.4%) were slightly up year-on-year while load factor slightly decreased (-1.6pt) to 88%, leading to broadly stable unit revenue development.

Short and Medium-haul

Overall, capacity rose 1.5%, with a broadly stable load factor at 86% and with yields remaining flat.

Cargo: Q3 unit revenues under pressure

Cargo businessThird QuarterYear to date2025changechange
constant currency2025changechange
constant currencyTons (thousands)224-1.1% 666+0.9% Capacity (ATK m)3,858+4.0% 10,935+1.9% Traffic (RTK m)1,683-0.3% 5,024+1.7% Load factor43.6%-1.9pt 45.9%-0.1pt Total Cargo revenues (€m)540-3.7%-0.8%1,728+3.5%+4.7%Traffic Cargo revenues (€m)453-3.8%-0.9%1,447+5.3%+6.5%Unit revenue per ATK (€cts)11.74-7.8%-5.1%13.24+3.2%+4.3% Despite full freighter capacity negatively impacted by longer-than-expected maintenance, the third quarter capacity in Available Ton Kilometers (ATK) rose 4.0% year-on-year. Traffic decreased slightly (-0.3%), reducing the load factor by 1.9 points to 43.6%.
Together with a 0.8% decrease in yields, unit revenue per ATK decreased by -5.1% at constant currency.

Transavia: Challenging summer season

TransaviaThird QuarterYear to date2025change2025changePassengers (thousands)8,258+12.3%20,337+11.7%Capacity (ASK m)16,303+13.8%40,176+12.9%Traffic (RPK m)14,463+12.6%35,545+11.7%Load factor88.7%-0.9pt88.5%-0.9ptUnit revenue per ASK (€cts)7.71-2.8%6.88-0.3%Unit cost per ASK (€cts)56.38+2.0%6.82+4.3%     Total Passenger revenues (€m)1,241+11.0%2,714+12.0%Salaries and related costs (€m)-224+13.4%-628+15.7%Aircraft fuel, excl. ETS (€m)-226-4.9%-584-3.9%Other operating expenses (€m)-461+20.4%-1,167+20.6%Depreciation & Amortization (in €m)-113+51.5%-312+42.1%Operating result (€m)217-823-63Operating margin (%)17.5%-2.7pt0.9%-2.7pt Transavia’s capacity in Available Seat Kilometers grew 13.8%, while traffic increased by 12.6%, resulting in a decrease in load factor of 0.9 points. Yields went down by 1.8% resulting in a unit revenue reduction of -2.8%.

Transavia Netherlands faced increased competition, partly due to redirected capacity from the Middle East towards other European destinations, putting the unit revenues under pressure. Also, the increase in Schiphol tariffs in combination with the increase of the ticket tax last year is resulting in higher ticket prices and pushing travelers to airports in Germany.
In France, performance was affected by a two days ATC strike early July and by the implementation of the TSBA since 1st of March 2025 which is impacting the unit revenue significantly.
Overall, unit cost increased by 2.0% mainly due to higher operational costs for Transavia France. Transavia Netherlands experienced smooth operations this summer resulting in significantly lower customer compensation than last year, partly compensated by an increase in wet lease activities.

Maintenance business: continuous double digit growth and improved operating margin

MaintenanceThird QuarterYear to date2025Change2025ChangeTotal Revenues (€m)1,358+10.2%4,147+13.4%o/w Third party revenues (€m)572+12.9%1,725+14.4%External expenses (€m)-858+10.6%-2,671+12.3%Salaries and related costs (€m)-299+3.6%-937+6.5%Depreciation & Amortization (€m)-115+5.1%-318+15.3%Operating result (€m)86+28221+97Operating margin (%)6.3%+1.6pt5.3%+1.9pt The maintenance segment continued its strong growth in Q3 2025 with third-party revenues up 12.9%, driven by a strong recovery in engine activities. Total revenues rose 10.2%. The operating result increased by €28 million and the operating margin improved to 6.3%, up 1.6 points from 2024.

During the quarter, Air France-KLM signed 5 new long-term MRO contracts with external customers. The Group will deliver engines, components and APU services to these operators across the globe, which is reinforcing its long term order book on these activities. The order book amounted to USD 10.4 billion as per the end of September 2025 versus USD 8.7 billion at the end of December 2024.

Air France’s Q3 operating result improved

Air France Group

 Third QuarterYear to date 2025change2025changeRevenues (in €m)5,690+2.6%15,216+5.8%Salaries and related costs (in €m)-1,458+2.8%-4,268+5.5%Aircraft fuel, excl. ETS (in €m)-1,014-11.8%-2,917-9.0%Other operating expenses (in €m)-1,900+6.0%-5,492+6.2%Depreciation & Amortization (in €m)-519+15.2%-1,433+12.3%Operating result (in €m)799+671,106+428Operating margin (%)14.0%+0.8pt7.3%+2.6pt In the third quarter, the operating result reached €799 million, up €67 million year-on-year. The operating margin improved 0.8 points compared to Q3 last year (which was negatively impacted by the Olympic Games) despite a two days ATC strike early July and the increase of the solidarity tax on tickets (TSBA) effective since March 1st, 2025. This tax increase has a significantly negative impact on the unit revenue.

KLM: Operating margin impacted by yield pressure in economy cabin

KLM Group

 Third QuarterYear to date2025change2025changeRevenues (in €m)3,592+1.2%9,937+4.0%Salaries and related costs (in €m)-1,012+4.0%-3,059+4.2%Aircraft fuel, excl. ETS (in €m)-650-10.7%-1,939-10.1%Other operating expenses (in €m)-1,275+7.3%-3,744+12.2%Depreciation & Amortization (in €m)-313+18.8%-856+12.7%Operating result (in €m)341-54339-26Operating margin (%)9.5%-1.6pt3.4%-0.4pt Third quarter revenues grew 1.2%, while capacity grew by more than 7%. Both yields and load factor decreased for Passenger network, Cargo and Transavia. Operations were impacted by labor disputes with two ground unions in September. In addition, the increase in landing & takeoff charges and the increase in passenger & security charges, implemented as per April 1st, 2025 have a significant impact on KLM Group’s unit revenue.

KLM as a connecting carrier is impacted by a reduction in low yielding passenger demand. However, premium classes and Premium Economy continue to perform strongly. Premium Economy ASKs increased by 28% and on higher capacity, load factor increased by 1 point and yields at constant currency increased 7%. Cargo unit revenues were negatively impacted by full freighter maintenance, driving negative mix effects.

Flying Blue stable operating result

Flying Blue Miles

 Third QuarterYear to date2025change2025changeRevenue (in €m)221+21646+42o/w Third party revenues (in €m)149+14434+27Operating result (in €m)54-1160+4Operating margin (%)24.4%-3.1pt24.8%-1.1pt In the third quarter Flying Blue Miles generated €221 million in total revenue, including revenues from third-party airline and non-airline partners. The operating margin reached 24.4%.
Revenue continued to grow year-on-year thanks to volumes and despite weaker USD. The cost of redeeming miles increased due to less favorable reward tickets (less seat availability for FB members compared to Q3 2024 where the Olympic Games had a positive effect on Flying Blue).

Nb: Sum of individual airline and Flying Blue results does not add up to AF-KLM total due to intercompany eliminations at Group level.

******

The results presentation is available at www.airfranceklm.com on November 6, 2025 from 8:00 am CET.

A conference call hosted by Mr. Smith (CEO) and Mr. Zaat (CFO) will be held on November 6, 2025, at 09.30 am CET.

To connect to the webcast, please use the link below:

https://channel.royalcast.com/landingpage/airfranceklm/20251106_1/

Investor Relations Press OfficeMichiel KlinkersMarouane Mami+33 1 41 56 56 [email protected]@[email protected] Income statement

 Third QuarterYear to datein € million20252024Change20252024Change  restated *    Revenues from ordinary activities9,2138,979        3        %24,82223,582        5        %Aircraft fuel-1,664-1,878        -11        %-4,856-5,363        -9        %Carbon emission-111-66        68        %-262-191        37        %Chartering costs-121-133        -9        %-353-380        -7        %Landing fees and air routes charges-638-569        12%-1,754-1,545        14        %Catering-264-253        4        %-735-686        7        %Handling charges and other operating costs-586-560        5        %-1,627-1,534        6        %Aircraft maintenance costs-808-781        3        %-2,632-2,379        11        %Commercial and distribution costs-280-256        9        %-848-810        5        %Other external expenses-498-495        1        %-1,511-1,488        2        %Salaries and related costs-2,476-2,401        3        %-7,343-6,997        5        %Taxes other than income taxes-43-41        5        %-145-137        6        %Capitalized production284301        -6        %1,0391,029        1        %Other income and expenses2849        -43        %107140        -24        %Amortization, depreciation and provisions-833-716–-2,291-2,037        12        %Total operating expenses-8,010-7,799        3        %-23,211-22,378        4        %Income from current operations1,2031,180        2        %1,6111,204        34        %Sales of aircraft equipment-410nm-625nmOther non current income and expenses1–nm-8-118        -93        %Income from operating activities1,2001,190        1        %1,5971,111        44        %Interests expenses-155-157        -1        %-464-471        -1        %Income from cash & cash equivalent4967        -27        %151236        -36        %Net cost of financial debt-106-90        18        %-313-235        33        %Other financial income and expenses-6514nm332-198nmIncome before tax1,0291,114        -8        %1,616678        138        %Income taxes-302-300        1        %-478-181        164        %Net income of consolidated companies727814        -11        %1,138497        129        %Share of profits (losses) of associates4110nm3013        131        %Net Income for the period768824        -7        %1,168510        129        %Net income - Non controlling interests3844        -14        %125130        -4        %Net income - Group part730780        -6        %1,043380        174%                                                  Note: the sum of “Salaries and related costs” in the business review section is not equal to the above-mentioned figure due to corporate overhead, IT and other businesses not directly related to Network, Maintenance or Transavia

Consolidated balance sheet

Assets September 30, 2025December 31, 2024(in € million)  Goodwill223226Intangible assets1,1671,150Flight equipment13,77212,347Other property, plant and equipment1,6171,533Right-of-use assets8,6197,592Investments in equity associates257216Pension assets4366Other non-current financial assets1,1161,369Non-current derivatives financial assets122195Deferred tax assets304662Other non-current assets310214Total non-current assets        27,55025,570Other current financial assets1,3171,190Current derivatives financial assets80249Inventories993959Trade receivables2,4552,051Other current assets1,1061,260Cash and cash equivalents5,0084,829Assets held for sale2447Total current assets        10,98310,585Total assets        38,533        36,155        Liabilities and equitySeptember 30, 2025December 31, 2024(in € million)  Issued capital        263        263        Additional paid-in capital        7,560        7,560        Treasury shares        -28        -27        Perpetual        1,568        1,078        Reserves and retained earnings        -9,287        -10,638        Equity attributable to equity holders of Air France-KLM        76        -1,764        Perpetual        2,088        2,530        Reserves and retained earnings        38        33        Equity attributable Non-controlling interests        2,126        2,563        Total equity        2,202        799        Pension provisions        1,681        1,686        Non-current return obligation liability and other provisions        4,541        4,493        Non-current financial liabilities        7,262        7,254        Non-current lease debt        5,155        4,714        Non-current derivatives financial liabilities        232        32        Deferred tax liabilities        5        2        Other non-current liabilities        686904Total non-current liabilities        19,56219,085Current return obligation liability and other provisions        827        1,181        Current financial liabilities        1,690        1,692        Current lease debt        897        982        Current derivatives financial liabilities        192        137        Trade payables        2,602        2,608        Deferred revenue on ticket sales        4,521        4,097        Frequent flyer programs        915        906        Other current liabilities        5,125        4,668        Total current liabilities        16,76916,271Total equity and liabilities        38,533        36,155         Statement of Consolidated Cash Flows from January 1 until September 30, 2025

Period from January 1 to September 3020252024(in € million)  Net income1,168510Amortization, depreciation and operating provisions        2,291        2,037Financial provisions        213        212Cost of net debt        313        235Loss (gain) on disposals of tangible and intangible assets        6        -31Loss (gain) on disposals of subsidiaries and associates        0        -2Derivatives – non monetary result        -3        19Unrealized foreign exchange gains and losses, net        -626        -97Share of (profits) losses of associates        -30        -13Deferred taxes        277        99Other non-monetary items        30        21Cash flow from operating activities before change in working capital        3,639        2,990Increase (decrease) in working capital        402        -422CASH-FLOW FROM OPERATING ACTIVITIES        4,041        2,568Acquisition of subsidiaries, of shares in non-controlled entities        -12-92Proceeds on disposal of subsidiaries, of shares in non-controlled entities        24        8Purchase of property plant and equipment and intangible assets         -3,341        -2,931Proceeds on disposal of property plant and equipment and intangible assets         774        391Interest received        132        221Dividends received        10        2Decrease (increase) in net investments, more than 3 months        161        137CASH-FLOW USED IN INVESTING ACTIVITIES        -2,252        -2,264Payments to acquire treasury shares-1–Purchase of minority interest without change of control-5-1Issuance of perpetual494–Repayment on perpetual-497–Coupon on perpetual-141-131Issuance of debt1,3561,147Repayment on debt-1,411-1,715Payments on lease debts-716-666New loans-200-103Repayment on loans9065Interest paid -544-532Dividends paid-1-1CASH-FLOW FROM FINANCING ACTIVITIES        -1,576        -1,937Effect of exchange rate and reclassification on cash and cash equivalents (net of cash acquired or sold)        -34        4Change in cash and cash equivalents and bank overdrafts        179        -1,629Cash and cash equivalents and bank overdrafts at beginning of period         4,829        6,181Cash and cash equivalents and bank overdrafts at end of period         5,008        4,552 Recurring adjusted operating free cash flow

 Third QuarterYear to date 2025202420252024(in € million)    Net cash flow from operating activities1,0139184,0412,568Purchase of property plant and equipment and intangible assets-1,026-864-3,341-2,931Proceeds on disposal of property plant and equipment and intangible assets20118774391Operating free cash flow188721,47428Interest paid and received-93-81-412-311Payments on lease debts-229-224-716-666Operating free cash flow adjusted-134-233346-949Exceptional payments made/(received) (1)124122369972Recurring adjusted operating free cash flow -10-11171523      (1) Exceptional payments made/(received), restated from operating free cash flow for the calculation of recurring operating free cash flow adjusted, correspond to the repayment of deferred social charges, pensions contributions and wage taxes granted during the Covid period.

Net debt

(in € million)

September 30, 2025December 31, 2024Current and non-current financial liabilities8,9528,946Current and non-current lease debt6,0525,696Accrued interest-93-138Deposits related to financial liabilities-90-97Deposits related to lease debt-84-98Derivatives impact on debt47-45Gross financial liabilities (I)14,78414,264Cash and cash equivalent5,0084,829Marketable securities > 3 months8831,046Bonds1,1061,057Net cash (II)6,9976,932Net debt (I-II)7,7877,332 Return on capital employed (ROCE)

In € millionSep 30, 2025Jun 30,
2025Mar 31,
2025Dec 31,
2024Sep 30,
2024Jun 30,
2024Mar 31,
2024Dec 31,
2023         Goodwill and intangible assets        1,390                1,390                1,377                1,375                1,356                1,354                1,349                1,352        Flight equipment        13,772                13,392                12,835                12,347                12,607                12,197                11,646                11,501        Other property, plant and equipment        1,617                1,587                1,554                1,533                1,500                1,456                1,438                1,431        Right of use assets        8,619                8,479                8,030                7,592                6,652                6,479                5,902                5,956        Investments in equity associates        257                205                212                216                240                134                134                129        Financial assets excluding marketable securities, accrued interests and financial deposits        193                194                196                195                218                211                214                219        Provisions, excluding pensions, cargo litigation and restructuring        -4,933                -5,167                -5,246                -5,224                -4,553                -4,700                -4,523                -4,346        WCR1        -8,124                -8,749                -8,984                -7,468                -7,422                -8,222                -8,284                -6,981        Capital employed        12,791                11,331                9,974                10,566                10,598                8,909                7,876                9,261        Average capital employed (A)11,1669,161Adjusted results from current operations2,0081,148- Dividends received-1-1- Share of profits (losses) of associates-213- Normative income tax-570-326Adjusted result from current operations after tax (B)1,435834ROCE, trailing 12 months (B/A)12.9%9.1%    Compared with previous periods, working capital has been restated to exclude the deferral of social and fiscal charges granted following the Covid.

(1) Excluding the report of social & fiscal charges granted consequently to Covid.

Unit cost: net cost per ASK

 Third QuarterYear to date 2025202420252024Total operating expenses (in €m)8,0117,79823,21022,377Carbon emission (ETS)-111-66-262-191Total other revenues (in €m)-818-796-2,484-2,322Net cost (in €m)7,0816,93620,46419,864Capacity produced, reported in ASK92,28787,811252,584241,903Net cost per ASK (in € cents per ASK)7.677.908.108.21Gross change         -2.9%         -1.3%Currency effect on net costs (in €m) -141 -137Change at constant currency         -0.8%         -0.7%Fuel price effect (in €m) -145 -515Net cost per ASK at constant currency, constant fuel price and excluding ETS (in € cents per ASK)7.677.578.107.94Change at constant currency and constant fuel price excluding ETS         1.3%         2.0% Unit cost per ASK excluding fuel and ETS vs Q3 2024: +1.9% and vs 9m 2024: +3.1%
Definition: Unit cost = (total operating expenses - fuel - carbon emission - total other revenues) / Group Capacity in ASK

Group fleet at 30 September 2025

Aircraft typeAF
(incl. HOP)16KL
(incl. KLC & MP)1TransaviaOwnedFinance leaseOperating leaseTotalIn operationChange in operation vs 31/12/24B777-3004316 3210175959 B777-2001815 29133333 B787-91013 47122323 B787-10 14 310114143A350-90039  3132339394A330-300 5   555 A330-200106 11 51616-1Total Long-Haul1206908241661891896B737-900 5 5  55 B737-800 3110636893137136-3B737-700 6 6  66 A321NEO 10137313232312A32114  7 71414 A32036  43293636 A320NEO  20 119202010A3197  6 174-6A3185  5  55-1A220-30047  2371747476Total Medium-Haul10952139992217930029618Embraer 195 E2 25   2525213Embraer 1902623 174284947-2Embraer 175 17 314 1717 Embraer 17013  10 31312-1Total Regional39650301856104970B747-400ERF 3 3  33 B747-400BCF 1 1  11 B777-F2    222 Total Cargo240402660          Total2701901392158130359958824 2025 TRAFFIC

Passenger network activity

 Third QuarterYear to dateTotal network airlines20252024change20252024changePassengers carried (‘000s)20,91320,499+2.0%57,90256,261+2.9%Revenue pax-kilometers (m RPK)67,44565,534+2.9%185,712180,772+2.7%Available seat-kilometers (m ASK)75,96273,481+3.4%212,383206,320+2.9%Load factor (%)88.8%89.2%-0.4pt87.4%87.6%-0.2pt       Long-haul      Passengers carried (‘000s)7,4147,238+2.4%20,40220,047+1.8%Revenue pax-kilometers (m RPK)55,09953,473+3.0%152,580149,111+2.3%Available seat-kilometers (m ASK)61,61759,348+3.8%173,115168,663+2.6%Load factor (%)89.4%90.1%-0.7pt88.1%88.4%-0.3pt       North America      Passengers carried (‘000s)2,9742,898+2.6%7,5727,366+2.8%Revenue pax-kilometers (m RPK)21,12120,392+3.6%53,96252,156+3.5%Available seat-kilometers (m ASK)23,73622,647+4.8%61,65259,463+3.7%Load factor (%)89.0%90.0%-1.1pt87.5%87.7%-0.2pt       Latin America      Passengers carried (‘000s)934859+8.7%2,7232,543+7.1%Revenue pax-kilometers (m RPK)8,8538,131+8.9%25,71224,168+6.4%Available seat-kilometers (m ASK)9,6838,867+9.2%28,32526,710+6.0%Load factor (%)91.4%91.7%-0.3pt90.8%90.5%+0.3pt       Asia / Middle East      Passengers carried (‘000s)1,5891,555+2.2%4,5834,668-1.8%Revenue pax-kilometers (m RPK)12,43912,267+1.4%36,03536,380-0.9%Available seat-kilometers (m ASK)13,79913,562+1.7%40,67141,073-1.0%Load factor (%)90.1%90.5%-0.3pt88.6%88.6%0.0pt       Africa      Passengers carried (‘000s)1,0531,060-0.7%2,9492,961-0.4%Revenue pax-kilometers (m RPK)6,4446,469-0.4%18,25718,2640.0%Available seat-kilometers (m ASK)7,3177,212+1.5%21,37421,129+1.2%Load factor (%)88.1%89.7%-1.6pt85.4%86.4%-1.0pt       Caribbean / Indian Ocean      Passengers carried (‘000s)865866-0.1%2,5762,509+2.7%Revenue pax-kilometers (m RPK)6,2426,214+0.5%18,61418,143+2.6%Available seat-kilometers (m ASK)7,0827,060+0.3%21,09320,288+4.0%Load factor (%)88.1%88.0%+0.1pt88.2%89.4%-1.2pt       Short and Medium-haul      Passengers carried (‘000s)13,50013,261+1.8%37,50036,214+3.6%Revenue pax-kilometers (m RPK)12,34612,061+2.4%33,13231,661+4.6%Available seat-kilometers (m ASK)14,34514,134+1.5%39,26837,657+4.3%Load factor (%)86.1%85.3%+0.7pt84.4%84.1%+0.3pt Transavia activity

 Third QuarterYear to dateTransavia20252024change20252024changePassengers carried (‘000s)8,2587,356+12.3%20,33718,208+11.7%Revenue seat-kilometers (m RSK)14,46312,841+12.6%35,54531,826+11.7%Available seat-kilometers (m ASK)16,30314,330+13.8%40,17635,591+12.9%Load factor (%)88.7%89.6%-0.9pt88.5%89.4%-0.9pt Total Group passenger activity

 Third QuarterYear to dateTotal Group20252024change20252024changePassengers carried (‘000s)29,17127,855+4.7%78,23974,469+5.1%Revenue pax-kilometers (m RPK)81,90878,375+4.5%221,257212,598+4.1%Available seat-kilometers (m ASK)92,26587,811+5.1%252,559241,911+4.4%Load factor (%)88.8%89.3%-0.5pt87.6%87.9%-0.3pt Cargo activity

 Third QuarterYear to dateCargo20252024change20252024changeRevenue tonne-km (m RTK)1,6831,689-0.3%5,0244,938+1.7%Available tonne-km (m ATK)3,8583,709+4.0%10,93510,727+1.9%Load factor (%)43.6%45.5%-1.9pt45.9%46.0%-0.1pt Air France activity

 Third QuarterYear to dateTotal Passenger network activity20252024change20252024changePassengers carried (‘000s)11,61411,670-0.5%32,04931,501+1.7%Revenue pax-kilometers (m RPK)41,05240,452+1.5%111,880108,994+2.6%Available seat-kilometers (m ASK)46,57445,806+1.7%128,599125,050+2.8%Load factor (%)88.1%88.3%-0.2pt87.0%87.2%-0.2pt       Long-haul      Passengers carried (‘000s)4,7814,716+1.4%12,98412,739+1.9%Revenue pax-kilometers (m RPK)34,62333,937+2.0%94,82692,326+2.7%Available seat-kilometers (m ASK)38,97038,025+2.5%108,109105,064+2.9%Load factor (%)88.8%89.2%-0.4pt87.7%87.9%-0.2pt       Short and Medium-haul      Passengers carried (‘000s)6,8336,954-1.7%19,06518,763+1.6%Revenue pax-kilometers (m RPK)6,4296,515-1.3%17,05416,668+2.3%Available seat-kilometers (m ASK)7,6047,781-2.3%20,49019,986+2.5%Load factor (%)84.5%83.7%+0.8pt83.2%83.4%-0.2pt       Cargo activity      Revenue tonne-km (m RTK)933841+11.0%2,7662,447+13.0%Available tonne-km (m ATK)2,3182,192+5.7%6,4356,213+3.6%Load factor (%)40.3%38.4%+1.9pt43.0%39.4%+3.6pt KLM activity

 Third QuarterYear to dateTotal Passenger network activity20252024change20252024changePassengers carried (‘000s)9,3008,829+5.3%25,85424,759+4.4%Revenue pax-kilometers (m RPK)26,39325,082+5.2%73,83271,777+2.9%Available seat-kilometers (m ASK)29,38827,676+6.2%83,78481,271+3.1%Load factor (%)89.8%90.6%-0.8pt88.1%88.3%-0.2pt       Long-haul      Passengers carried (‘000s)2,6332,522+4.4%7,4197,308+1.5%Revenue pax-kilometers (m RPK)20,47619,536+4.8%57,75456,784+1.7%Available seat-kilometers (m ASK)22,64721,323+6.2%65,00663,599+2.2%Load factor (%)90.4%91.6%-1.2pt88.8%89.3%-0.4pt       Short and Medium-haul      Passengers carried (‘000s)6,6676,307+5.7%18,43517,451+5.6%Revenue pax-kilometers (m RPK)5,9175,546+6.7%16,07814,993+7.2%Available seat-kilometers (m ASK)6,7416,354+6.1%18,77817,672+6.3%Load factor (%)87.8%87.3%+0.5pt85.6%84.8%+0.8pt       Cargo activity      Revenue tonne-km (m RTK)750848-11.6%2,2572,491-9.4%Available tonne-km (m ATK)1,5401,517+1.5%4,5004,514-0.3%Load factor (%)48.7%55.9%-7.2pt50.2%55.2%-5.0pt 1 At constant fuel, constant currency and excluding ETS

2 Check for the definition, the recurrent adjusted free cash flow table in the appendix of this press release

3 Against a constant fuel price, constant currency and excluding Emission Trading Scheme cost (ETS)

4 New generation fleet / Fleet in operation

5 Against a constant fuel price, constant currency and excluding Emission Trading Scheme cost (ETS)

1 Excluding Transavia

Q3 2025 - AFKLM Results Press Release

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Attachments

2025.09 - Air France-KLM - Consolidated financial statements and notes as of September 30, 2025...

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xx THIRD QUARTER 2025 November 6, 2025 Stable operating result at €1.2 billion with operating margin at 13.1% Group revenues up 2.6% year-on-year to €9.2bn, driven by Passenger network, Transavia...

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Declaration of number of voting rights Information relating to the total number of voting rights and shares as required by L.233-8 II of the code of commerce and article 223-16 of the general rules...

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INCHEON, Korea--(BUSINESS WIRE)-- #biosimilars--Samsung Bioepis has signed a settlement and license agreement with Johnson & Johnson concerning the commercialization of PYZCHIVA®, in Europe.

SES AI Corporation (SES) Q3 2025 Earnings Call November 5, 2025 5:00 PM EST

Company Participants

Kyle Pilkington - Chief Legal Officer
Qichao Hu - Founder, Chairman & CEO
Jing Nealis - Chief Financial Officer

Conference Call Participants

Derek Soderberg - Cantor Fitzgerald & Co., Research Division
Yan Dong - Deutsche Bank AG, Research Division

Presentation

Operator

Hello, and welcome to the SES AI Third Quarter 2025 Earnings Release and Call. My name is Carla, and I will be coordinating your call today. [Operator Instructions] I will now hand you over to the Chief Legal Officer, Kyle Pilkington, to begin. Please go ahead when you're ready.

Kyle Pilkington
Chief Legal Officer

Hello, everyone, and welcome to our conference call covering our third quarter 2025 results. Joining me today are Qichao Hu, Founder and Chief Executive Officer; and Jing Nealis, Chief Financial Officer. We issued our shareholder letter just after 4:00 p.m. today, which provides a business update as well as our financial results.

You'll find a press release with a link to our shareholder letter and today's conference call webcast in the Investor Relations section of our website at ses.ai. Before we get started, this is a reminder that the discussion today may contain forward-looking information or forward-looking statements within the meaning of applicable securities legislation.

These statements are based on our predictions and expectations as of today. Such statements involve certain risks, assumptions and uncertainties, which may cause our actual or future results and performance to be materially different from those expressed or implied in these statements. The risks and uncertainties that could cause our results to differ materially from our current expectations include, but are not limited to, those detailed in our latest earnings release and in our SEC filings.

This afternoon, we will review our business as well as

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Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights, opens new tab

SINGAPORE/HONG KONG, Nov 6 (Reuters) - KKR & Co

(KKR.N), opens new tab and Singapore Telecommunications

(STEL.SI), opens new tab are in advanced talks to buy more than 80% of ST Telemedia Global Data Centres - which would give them full ownership - for over S$5 billion ($3.9 billion), two people with direct knowledge of the plans said.

KKR currently owns about 14% of the firm while Singtel has a stake of more than 4%. The rest of the company is held by ST Telemedia, which is wholly owned by Singapore state investor Temasek Holdings (TEM.UL).

Sign up here.

KKR and ST Telemedia Global Data Centres declined to comment. ST Telemedia and Singtel did not immediately respond to Reuters queries.

If successful, the deal would rank among Asia's biggest data centre transactions, with the boom in artificial intelligence creating soaring demand for digital infrastructure.

The sources declined to be identified as the matter is private.

Reporting by Yantoultra Ngui in Singapore and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Edwina Gibbs

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

Yantoultra Ngui is the Southeast Asia Deals Correspondent of Reuters in Singapore, covering M&A and capital market activities in a region that is fast emerging as one of the world’s biggest economies. He previously was a reporter at Bloomberg and The Wall Street Journal (WSJ). Notably, he was part of WSJ's team that covered the financial scandal at Malaysian state fund 1MDB, and that won SOPA Excellence in Breaking News award for the coverage of the assassination of Kim Jong Nam, the half-brother of North Korea's leader Kim Jong Un, in Malaysia in 2018. Yantoultra graduated with an MBA in Finance from Universiti Putra Malaysia (UPM) in 2010.

Kane Wu covers M&A, private equity, venture capital and investment banks in Asia. She tracks the region's most high-profile deals, fundraisings as well as investment trends amidst geopolitical, macroeconomic and regulatory changes. She was nominated for a SOPA Excellence in Business Reporting award for coverage of China regulatory crackdown in 2021. Prior to Reuters, she worked at the Wall Street Journal and also wrote about Asia's loan market for Thomson Reuters Basis Point. She is based in Hong Kong.

ConocoPhillips (NYSE:COP) will release earnings results for the third quarter before the opening bell on Thursday, Nov. 6.

Analysts expect the Houston, Texas-based company to report quarterly earnings at $1.41 per share, down from $1.78 per share in the year-ago period. The consensus estimate for ConocoPhillips' quarterly revenue is $14.63 billion, compared to $13.6 billion a year earlier, according to Benzinga Pro.

On Aug. 7, ConocoPhillips reported better-than-expected earnings for the second quarter.

Shares of ConocoPhillips fell 0.2% to close at $87.70 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

Susquehanna analyst Biju Perincheril maintained a Positive rating and cut the price target from $113 to $110 on Oct. 20, 2025. This analyst has an accuracy rate of 71%.
Wells Fargo analyst Sam Margolin initiated coverage on the stock with an Equal-Weight rating and a price target of $100 on Oct. 17, 2025. This analyst has an accuracy rate of 60%.
Morgan Stanley analyst Devin McDermott maintained an Overweight rating and cut the price target from $123 to $122 on Oct. 14, 2025. This analyst has an accuracy rate of 75%.
Raymond James analyst John Freeman maintained an Outperform rating and cut the price target from $117 to $115 on Sept. 8, 2025. This analyst has an accuracy rate of 73%.
Melius Research analyst James West initiated coverage on the stock with a Hold rating and a price target of $117 on Aug. 20, 2025. This analyst has an accuracy rate of 73%
Considering buying COP stock? Here’s what analysts think:

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The manufacture sales increased 13%, a slowdown in momentum due to delays in German government's procurement decisions.

Veeco Instruments Inc. (VECO) Q3 2025 Earnings Call November 5, 2025 5:00 PM EST

Company Participants

Alex Delacroix
William Miller - CEO & Director
John Kiernan - Senior VP & CFO

Conference Call Participants

David Duley - Steelhead Securities LLC
Denis Pyatchanin
Mark Miller - The Benchmark Company, LLC, Research Division

Presentation

Operator

Greetings, and welcome to the Veeco Q3 2025 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Alex Delacroix, Head of Investor Relations. Thank you. You may begin.

Alex Delacroix

Thank you, and good afternoon, everyone. Joining me on the call today are Bill Miller, Veeco's Chief Executive Officer; and John Kiernan, our Chief Financial Officer. Today's earnings release and slide presentation to accompany today's webcast is available on Veeco's website.

To the extent that this call discusses expectations for future revenues, future earnings, the timing and expected benefits of the proposed transaction with Axcelis, market conditions or otherwise make statements about the future. These forward-looking statements are based on management's current expectations and are subject to the risks and uncertainties that could cause actual results to differ materially from the statements made. These risks are discussed in detail in our Form 10-K annual report and other SEC filings.

Veeco does not undertake any obligation to update any forward-looking statements, including those made on this call to reflect future events or circumstances after the date of such statements. Unless otherwise noted, management will address non-GAAP financial results. We encourage you to refer to our reconciliation between GAAP and non-GAAP results, which you can find in our press release and at the end of the earnings presentation.

Given the pending merger with Axcelis, we will not be addressing questions related to the transaction. Please note that today's call is

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

November 06, 2025 00:19 ET

 | Source:

Benitec Biopharma Inc.

HAYWARD, Calif., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Benitec Biopharma Inc. (Nasdaq: BNTC) (“Benitec” or the “Company”), a clinical-stage, gene therapy-focused, biotechnology company developing novel genetic medicines based on its proprietary DNA- directed RNA interference (“ddRNAi”) “Silence and Replace” platform, today announced the pricing of its underwritten public offering of 5,930,000 shares of its common stock and a concurrent registered direct offering of 1,481,481 shares of its common stock with long-term investor Suvretta Capital. Each share of common stock is being sold at an offering price of $13.50. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 889,500 shares of common stock on the same terms and conditions. The offerings are expected to close on November 7, 2025, subject to customary closing conditions.

The aggregate gross proceeds to Benitec from the underwritten public offering and the concurrent registered direct offering are expected to be approximately $100 million, prior to deducting underwriting discounts, commissions, placement agent fees and other offering expenses.

The Company intends to use the net proceeds from this financing, together with existing cash on hand, to support the continued development of its product candidate programs, working capital and other general corporate purposes.

Leerink Partners, TD Cowen and Evercore ISI are acting as bookrunning managers for the underwritten public offering and as placement agents for the concurrent registered direct offering.

The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-3 relating to these securities on September 29, 2025. A prospectus supplement relating to these offerings will be filed with the SEC. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained, when available, from Leerink Partners LLC, Attn: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected]; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at [email protected]. Investors may also obtain these documents at no cost by visiting the SEC’s website at http://www.sec.gov.

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

About Benitec Biopharma Inc.

Benitec Biopharma Inc. (“Benitec” or the “Company”) is a clinical-stage biotechnology company focused on the advancement of novel genetic medicines with headquarters in Hayward, California. The proprietary “Silence and Replace” DNA-directed RNA interference platform combines RNA interference, or RNAi, with gene therapy to create medicines that simultaneously facilitate sustained silencing of disease-causing genes and concomitant delivery of wildtype replacement genes following a single administration of the therapeutic construct. The Company is developing Silence and Replace-based therapeutics for chronic and life-threatening human conditions including Oculopharyngeal Muscular Dystrophy (OPMD).

Cautionary Note Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to the timing and completion of the public offering and the concurrent registered direct offering and the anticipated gross proceeds from the offering. No assurance can be given that the offerings discussed above will be completed on the terms described, or at all, or that the proceeds of the offerings will be used as indicated. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in Benitec’s filings with the SEC. Benitec’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, Benitec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Benitec’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Source: Benitec Biopharma Inc.

Janus Henderson Global Life Sciences Fund returned 8.26% and the MSCI World Health Care Index returned 3.01%. Looking at individual holdings, Argenx was a top contributor for the quarter. Shares of Lantheus Holdings declined after the radiopharmaceutical company's second-quarter earnings results and guidance fell short of expectations.

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