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President Trump's "Big, Beautiful Bill" is reshaping the electric-vehicle (EV) landscape.

When a new president enters office, it's not uncommon for changes to take place, either through the signing of bills into law or via executive orders. Since President Donald Trump was inaugurated a little over eight months ago, we've witnessed a slew of adjustments made to Social Security, as well as the passage of his flagship tax and spending law, the "Big, Beautiful Bill."

While Trump's big, beautiful bill introduced a number of tax breaks for select groups, including a higher standard tax deduction for eligible seniors from 2025 through 2028, and partial deductions for tips and overtime pay for eligible workers during the same four-year timeline, it also removed some important benefits.

President Trump delivering his State of the Union address. Image source: Official White House Photo.

Specifically, Donald Trump's law changes the fortunes of the electric-vehicle (EV) industry and its leading pure-play manufacturers, which includes Tesla (TSLA 0.61%), Rivian Automotive (RIVN -2.15%), and Lucid Group (LCID 0.56%), as of today, Sept. 30.

EV makers bid adieu to an important dangling carrot
Among the laundry list of tax and credit adjustments in the president's big, beautiful bill is a newly shortened timeline that ends the $7,500 tax credit consumers received when purchasing a qualifying new EV or plug-in hybrid, as well as the $4,000 credit when buying a used EV. This EV credit was available to new vans, SUVs, and trucks priced below a manufacturer's suggested retail price (MSRP) of $80,000, as well as new sedans with an MSRP of no more than $55,000.

Though this credit (officially known as the Clean Vehicle Credit) was initially slated to end in 2032, based on the Inflation Reduction Act, Donald Trump's big, beautiful bill brings this new EV purchase credit to an end today, Sept. 30. Qualifying new vehicles purchased after today will no longer be eligible for the $7,500 credit.

This EV credit applied to a significant percentage of the vehicles Tesla sells, including its Model 3 Sedan, all-wheel drive Model X SUV, single and dual motor Cybertruck, and multiple variants of the Model Y SUV. While Rivian's and Lucid's EVs are generally priced above the MSRP range where tax credits end, both companies had been angling leases of upcoming models as a way to take advantage of the $7,500 EV credit.

This EV credit was akin to a dangling carrot that allowed pure-play electric-vehicle manufacturers to be more price-competitive with internal combustion engine (ICE) vehicles. Undercutting traditional ICE vehicles on price is viewed as a borderline necessity with EV charging infrastructure still somewhat lacking on a nationwide basis.

Without this upfront cost advantage, it's likely that future buyers will opt for traditional gas- and diesel-powered vehicles due to the availability of ICE fueling infrastructure and opportunity cost. Whereas it takes just a few minutes to refuel an ICE vehicle, it can take an hour to a full day, depending on the type of charger used, to juice up an EV.

Image source: Tesla.

But wait -- there's more bad news
However, ending this lucrative tax credit that incentivized the purchase of EVs isn't the only way Donald Trump's big, beautiful bill is disrupting pure-play EV manufacturers.

When the president signed his flagship tax and spending bill into law on July 4, 2025, it put an end to corporate average fuel economy (CAFE) fines, as well as retroactively eliminated fines for 2022 model years and all subsequent years.

CAFE regulations represent the standard of how far vehicles must travel on a gallon of fuel. These figures, which are set by the National Highway Traffic and Safety Administration, are designed to promote more fuel-efficient vehicles over time and lessen the reliance on fossil fuels. Automakers that failed to meet these standards were subject to fines. With CAFE civil penalties removed, courtesy of Trump's law, there's no longer any financial incentive for automakers to meet sky-high mile-per-gallon targets.

This is almost certain to have an adverse impact on the ability of Tesla, Rivian Automotive, and Lucid Group to generate profits.

Government agencies provide automotive regulatory credits to these pure-play EV manufacturers, which sell these tax credits to legacy automakers that are short of compliance targets. For Tesla especially, selling these tax credits plays a key role in its profitability. Without regulatory credits, Elon Musk's company would have reported a pre-tax loss during the first quarter of 2025.

With the teeth behind CAFE regulations removed by the big, beautiful bill, the market for automotive regulatory credits in the U.S. is going to be severely depressed. It has the potential to expose the fact that Wall Street's EV darling, Tesla, has been consistently generating more than half of its pre-tax income from unsustainable and/or non-innovative sources, such as selling automotive regulatory credits and earning interest income on its cash.

It'll also minimize regulatory tax credit revenue for Rivian and Lucid. Whereas Tesla has at least been profitable on a recurring basis for five consecutive years (with the help of automotive regulatory credits), Rivian and Lucid continue to lose money hand over fist as they ramp up operations and attempt to carve out their own unique niches in the automotive marketplace. Despite substantial cash piles for both companies and brand-name financial backing, long-term success is far from a guarantee.

Though I wouldn't go so far as to say Donald Trump drove a dagger through the heart of the EV industry, his actions are almost certain to thin the herd and make it considerably more difficult for pure-play electric-vehicle makers to compete with traditional ICE vehicles.

Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.

This turnaround will take time, but it's coming.

It can be tough to invest in healthcare stocks. They're at the mercy of government programs that set reimbursement rates, they face political pressure on drug pricing and premiums, and they get overshadowed in a booming stock market by high-flying sectors, such as technology.

So far this year, the S&P 500 index is showing solid gains, up 12.5%. But the healthcare sector is a disappointment, down 1%.

UnitedHealth Group (UNH 0.15%) is a leading company in the managed care market, boasting a diversified membership base and a variety of products. But UnitedHealth Group is badly underperforming even the healthcare sector, with a year-to-date loss of 31%. However, there are promising signs that a turnaround is on the horizon, as UNH stock was the best-performing stock in the S&P 500 last month.

Here's the biggest reason why this run is far from over and UnitedHealth Group is on its way higher.

Image source: Getty Images.

UnitedHealth Group is fixing its biggest problem
One of the major reasons why UnitedHealth stock suffered so much in the first half of the year was due to some misjudgments by management. The company failed to meet expectations for its first-quarter earnings, making it the first time that it had an earnings miss since 2008.

UnitedHealthcare CEO Tim Noel was blunt during the company's most recent earnings call. "The primary driver of the UnitedHealthcare earnings shortfall for 2025 is that our pricing assumptions were well short of actual medical costs," he said. "Our current view for 2025 reflects $6.5 billion more in medical costs than we anticipated in our initial outlook."

That's a huge number for any company to swallow. Noel said about half of the shortfall was from the company's Medicare portfolio, while another $2.3 billion was from the company's commercial business, which includes employer plans and Affordable Care Act plans.

But now UnitedHealth Group is fixing the problem. In short, the management says it is:

Adjusting its bids for Medicare Advantage medical bids, as the company is seeing an increase in services that are also costing more. UnitedHealth says it is working with Medicare to adjust pricing in 2026 and 2027 so that it can achieve a target margin range between 2% and 4%.
Changing its benefits offered for Medicare Advantage patients and dropping plans that serve more than 600,000 people.
Evaluating the 30 commercial markets it serves for 2026 and exiting those where it can't achieve its desired rates.

Granted, it's not an easy decision to exit markets or to raise prices, particularly when it comes to something as fundamentally important as healthcare. But UnitedHealth Group is doing the correct thing for the company and its shareholders by addressing the price challenges up front -- even if some relief won't be seen until 2026 or 2027. Failing to do so would be a breach of responsibility. And failing to do so publicly would open the company up to criticism that it's not doing enough to solve the revenue shortfall.

The bottom line
UnitedHealth has been through a lot this year: the shooting death of UnitedHealthcare CEO Brian Thompson, the unexpected resignation of UnitedHealth Group CEO Andrew Witty, the missed guidance, and a federal criminal probe of alleged Medicare fraud and billing practices.

But even through that, UnitedHealth Group is making a lot of money. Revenue in the second quarter was $111.6 billion, up from $98.9 billion a year ago. It's the net margin of 3.2% that's a concern, as its margin a year ago was 4.3%. Historically, it's been seeing margins greater than 5%.

UNH Profit Margin (Quarterly) data by YCharts

UnitedHealth Group appears to be on the right path now, with new leadership and a plan to return to its previous margins. And if you need an endorsement of the company's turnaround plan, look no further than the Oracle of Omaha himself, Warren Buffett, as his Berkshire Hathaway conglomerate bought 5 million shares of the company's stock this year. Buffett is a master of buying great companies when they are attractively priced, and Buffett was also surely attracted to UnitedHealth Group's 2.5% dividend yield.

It may take some time for investors to see management's work come to fruition, but a turnaround is on the horizon.

Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.

By Reuters

September 30, 20257:18 AM UTCUpdated ago

The logo of Kia Corp is seen on its electric vehicle EV6 during a photo opportunity in Seoul, South Korea, June 1, 2021. Picture taken on June 1, 2021. REUTERS/Kim Hong-Ji Purchase Licensing Rights, opens new tab

CompaniesSept 30 (Reuters) - Kia America is recalling over 39,500 vehicles in the U.S. as the heating, ventilation, and air conditioning (HVAC) blower motor wiring harness may be inadequate causing fire risks, the U.S. National Highway Traffic Safety Administration said on Tuesday.

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Reporting by Kanjyik Ghosh in Barcelona; Editing by Mrigank Dhaniwala

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This energy stock has delivered powerful total returns throughout its history.

NextEra Energy (NEE 0.43%) has been a wealth-creating machine over the decades. The utility has delivered an average annual total shareholder return of more than 14% over the past 20 years, significantly outpacing other utilities and the S&P 500. Powering those robust returns has been NextEra Energy's ability to grow its earnings and dividend at healthy rates.

The electric utility is in an excellent position to continue growing shareholder value in the future. Here's how it could grow a $1,000 investment made in October into over $2,800 over the next decade.

Image source: Getty Images.

Powerful earnings growth ahead
NextEra Energy has grown its adjusted earnings per share at a 9% compound annual rate over the past 20 years. This has enabled the utility to increase its dividend at around a 10% compound annual rate during that period. That combination of earnings growth and rising dividend income has really added up over the years. NextEra Energy has delivered a 14.8% annualized total return over the past decade, growing a $1,000 investment into $3,977. Meanwhile, that same $1,000 invested 20 years ago would now be worth over $12,150.

The utility currently expects to grow its adjusted earnings per share by a 6% to 8% annual rate through at least 2027. That's a conservative view, as NextEra has repeatedly said that it would be disappointed if it didn't deliver earnings growth at or near the top-end of its guidance range through 2027.

The company has significant visibility into its near-term earnings growth outlook. NextEra continues to invest capital to support the growth of its regulated electric utility FPL, which is benefiting from Florida's growing population and abundant sunshine. FPL is investing heavily in solar energy to provide its growing customer base with more low-cost power. These investments should grow its rate base at an 8% compound annual rate through 2029, supporting continued earnings growth.

Additionally, NextEra's energy resources business, a leader in renewable energy, is benefiting from robust demand for clean power from other utilities and large corporate customers. NextEra currently expects to invest $75 billion through 2028 on new renewable energy, battery storage, and electricity transmission projects. These projects should support continued strong earnings growth for this segment.

Ample additional growth ahead
NextEra Energy has significant visibility into its earnings growth over the next few years. Meanwhile, its longer-term growth outlook continues to strengthen. That should enable the company to continue growing at a robust rate over the coming decade.

FPL will continue to benefit from Florida's growing population and abundant sunshine. Florida is the third-largest and fastest-growing state by population. S&P Global estimates Florida's population will rise from 23.7 million this year to 26.7 million by 2040 -- a 41% increase from 2010.

The electric utility is investing heavily in solar energy to meet the state's growing power demand. FPL currently has the country's largest utility-owned solar energy portfolio at over 7.8 gigawatts. It expects to deploy over 17 GW of additional solar generation capacity within the next decade, along with another 7.6 GW of battery storage capacity. This investment will increase the company's solar generation capacity from 9% of the total last year to 35% by 2034. It should also support continued earnings growth for the utility.

Meanwhile, electricity demand in the U.S. is starting to accelerate, powered by AI data centers, the onshoring of manufacturing, and electric vehicles. In the near term, this will drive continued strong demand for renewables, which are fast to deploy and economically viable at current prices. Meanwhile, it should drive demand for additional natural gas-fired power plants and potentially new nuclear energy capacity in the 2030s. As a leader in all forms of energy, NextEra Energy should benefit from the expected acceleration in power demand.

Given these growth catalysts, it's easy to envision a future where NextEra Energy delivers adjusted earnings-per-share growth at or above its 6% to 8% annual target range over the next decade.

Adding it all up
NextEra Energy should grow its earnings per share by around 8% annually through at least 2027, with ample drivers to continue growing at or above that rate long-term. This should support ongoing increases to its 3% dividend. Combining that dividend yield and growth rate positions NextEra to deliver an 11% average annual total return (with dividend reinvestment), potentially turning a $1,000 investment made in October into over $2,800 by 2035.

Matt DiLallo has positions in NextEra Energy. The Motley Fool has positions in and recommends NextEra Energy and S&P Global. The Motley Fool has a disclosure policy.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of IHS either through stock ownership, options, or other derivatives. 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.

Wayfair's business and stock have delivered a surprising comeback. Here's what's driving it.

Few stocks were hit as hard in the post-pandemic shift as Wayfair (W 2.73%), the online home furnishings retailer. Wayfair benefited from multiple trends during the pandemic. First, e-commerce sales spiked as consumers took to online shopping instead of visiting stores, and the need to work and learn remotely drove a surge in demand for home furnishings. In general, spending on the home rose during the pandemic as consumers spent money on home improvement that otherwise might have gone to travel or entertainment.

When the pandemic ended, those trends suddenly reversed, and Wayfair was left having overinvested to operate in an economy that no longer needed it. Since then, the stock has mostly chugged along well below its earlier peak. As you can see from the chart below, its revenue is still well below its peak during the pandemic, as it has essentially been flat since then.

Data by YCharts; TTM = trailing 12 months.

However, you'll notice on the right that Wayfair's stock price has started climbing in recent months. The stock is up 339% from its bottom in April to now, despite the threat of tariffs.

What's behind Wayfair's surge?
Since the April sell-off, the company has fended off concerns about tariffs and delivered a pair of strong earnings reports that show that the business may be finally hitting an inflection point after years of cutting costs and investing in technology in the post-pandemic era.

In its first-quarter earnings report, the company reported flat revenue at $2.7 billion, but delivered a significant improvement on the bottom line. It reported adjusted earnings per share of $0.10, up from a loss of $0.32 in the quarter a year ago.

Its second-quarter results were even stronger as the company reported its fastest revenue growth and highest profitability since 2021. Revenue rose 6% (including the impact of its exit from the German market) to $3.3 billion, which was well ahead of estimates at $3.12 billion.

Adjusted earnings per share jumped from $0.47 to $0.87, which beat the consensus at $0.33. For the third quarter, management predicted revenue growth in the low to mid-single digits.

Wayfair continues to tout market share gains, and it's opening large-scale stores, grabbing a piece of the brick-and-mortar retail market as well. The company opened one in the Chicago suburbs, and it seems to be pleased with the results since it already has three more planned. These are huge big-box stores, and the latest one, in Denver, is expected to be about 140,000 square feet.

Is Wayfair a buy?
Despite the momentum in the business, Wayfair still has a long way to go to reclaim the growth rate it had before the pandemic, and it may never get there.

It has established itself as the leading pure-play online retailer, but it still faces a wide range of competition, including from Amazon, IKEA, Williams-Sonoma, and other big-box and independent stores.

The home furnishings sector has struggled in the last few years for reasons similar to Wayfair. A sluggish housing market has also put a damper on the sector, as home purchases and relocations tend to trigger purchases of furniture.

Investors are hopeful that interest rate cuts from the Federal Reserve will lower mortgage rates and drive a recovery in stocks like Wayfair, but that will take time if it happens.

In some ways, the recovery in the stock is understandable as it looks to be moving past the doldrums of the last few years, but its valuation seems hard to justify, at least not without faster revenue growth.

The stock currently trades at a forward P/E above 40, and there are limitations to its margin improvement without faster revenue growth. If the housing market cooperates, Wayfair could deliver stronger growth, but until then, this rally looks like it has run its course.

Jeremy Bowman has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Williams-Sonoma. The Motley Fool recommends Wayfair. The Motley Fool has a disclosure policy.

Shares in Card Factory (LSE:CARD) fell 5% in early trading after the retailer of greeting cards and gifts reported a drop in half-year profits, even as it stuck to its full-year guidance.

The group posted a 6% rise in revenue to £248 million for the six months to the end of July, driven by new store openings, resilient like-for-like sales growth of 1.5% and strong seasonal trading around Valentine’s Day and Mother’s Day.

Partnership revenues more than doubled to £16.5 million, helped by overseas expansion and new deals.

However, adjusted pre-tax profit slipped 9% to £13.2 million, reflecting investment in new technology and efficiency measures. Statutory pre-tax profit was down 46% to £7.5 million.

The company also reported weaker online performance, with sales at cardfactory.co.uk down 11%.

Darcy Willson-Rymer, chief executive, said the group had delivered a “resilient first half performance against a challenging retail backdrop” and was well prepared for its peak trading period.

The company completed its £24 million acquisition of Funky Pigeon in August, which it said would accelerate its digital strategy and deliver annual synergies of more than £5 million by 2027.

The interim dividend was lifted by nearly 5% to 1.3p. Net debt edged up to £79 million.

Looking ahead, the group maintained its forecast for mid to high single-digit growth in adjusted pre-tax profit for the full year, with second-half trading expected to be stronger thanks to the Christmas and Halloween seasons.

Peel Hunt said: "There is not a huge amount here that is new, and while the valuation of the shares is lowly, there's no catalyst currently here for them to perform, in our view."

The shares fell 5p to 100.8p.

ASOS PLC (LSE:ASC) shares fell nearly 10% to 264p after the online fashion retailer warned that annual profits would be at the bottom of its guided range, with weaker-than-expected sales overshadowing progress on margins and costs.

The group said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the year to August would be about £130 million, the low end of the £130 million to £150 million guidance.

That is 5% below consensus forecasts of £138 million and comes after a soft second half.

Free cash flow is now expected to deliver a small inflow, ahead of earlier neutral guidance.

For the 2026 financial year, management said it was confident in meeting consensus expectations of about £173 million of EBITDA and £8 million of free cash flow, albeit on a lower sales base as further cost savings take hold.

While ASOS has made strong progress on profitability, gross margins are up 3.5 percentage points and EBITDA margins above 5%, revenues remain the missing piece.

Sales are expected to fall about 12% year-on-year in 2025, at the bottom of the guided range. Deutsche Bank said the third leg of the turnaround, re-engaging customers, “may take longer than expected”.

The bank kept a “buy” rating and a 440p price target, saying ASOS had “dealt with the inventory overhang and introduced a new commercial model” but warned that “investors may start to question whether ASOS can deliver both sales growth and maintaining the margin profile”.

Deutsche added that while the company’s strategic initiatives, including an adidas collaboration, the ASOS World loyalty programme and wider distribution of Topshop, were starting to roll out, management commentary showed greater confidence on costs than on reigniting demand.

Peel Hunt also highlighted the gap between improved unit economics and declining revenue. The broker said investor sentiment would hinge on evidence that the business was regaining relevance with customers.

Analysts gave credit to ASOS for its cost discipline. Distribution and warehousing costs are down by more than three percentage points of sales over two years, while better full-price sell-through has lifted gross margins.

The expected positive free cash flow will not significantly reduce debt but has eased immediate funding concerns.

Despite these improvements, the share price has fallen more than 90% from its pandemic-era highs above 5,000p.

Restoring growth while protecting margins is now seen as the key challenge for José Antonio Ramos Calamonte, chief executive, who has spent two years reshaping the business.

A view shows a logo of Shell petrol station in South East London, Britain, February 2, 2023. REUTERS/May James Purchase Licensing Rights, opens new tab

CompaniesLONDON, Sept 30 (Reuters) - Shell

(SHEL.L), opens new tab has started production from its Victory gas field in the North Sea, which at peak production can heat almost 900,000 homes per year, it said on Tuesday.

At full capacity, the gas field can produce about 150 million standard cubic feet per day of gas, or about 25,000 barrels of oil equivalent per day. The field will provide gas for Britain's homes, businesses and power generation.

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Victory will contribute toward Shell's goal to deliver gas projects with total production of more than 1 million boed by the end of the decade.

The company expects most of the recoverable gas at the field, which is about 47 km northwest of the Shetland Islands, to have been extracted by that time.

Shell will extract gas via a single subsea well and transport it to the Shetland Gas Plant using an existing pipeline network, the company said.

It will then be delivered to the Scottish mainland at St. Fergus near Peterhead, and fed into the national gas network.

UK gas production is expected to fall by 10% this year from 2024, according to data from the North Sea Transition Authority in March.

Reporting by Stephanie Kelly; Editing by Jan Harvey

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

A New-York-based correspondent covering the U.S. crude market and member of the energy team since 2018 covering the oil and fuel markets as well as federal policy around renewable fuels.

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Account Combines Tax Efficiency, Global Access, and Low Costs for Swedish Investors

GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, has launched the Investeringssparkonto (ISK), a tax-advantaged and easy-to-manage investment account for individual investors in Sweden. The ISK offers a streamlined way to invest in a wide range of international assets efficiently and cost-effectively.

“The launch of the ISK reinforces our commitment to European growth and offers Swedish investors a simple way to start their investment journey or reach their savings goals in a tax-efficient account.” - Milan Galik, CEO of Interactive Brokers.

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With an ISK, eligible Swedish investors can access an extensive selection of foreign stocks, ETFs, and funds, all within a simplified tax structure. This account complements Interactive Brokers’ comprehensive global platform and includes no additional custody charges. Investors can fund ISKs in Swedish Krona (SEK) and easily trade international securities.

Interactive Brokers also offers Swedish clients a full-service brokerage experience with General Investment Accounts. These accounts provide access to over 160 global markets and a wide range of asset classes, including stocks, options, futures, currencies, bonds, and funds. All accounts are managed through a single, advanced trading platform that supports funding and trading in up to 28 currencies, including SEK.

“Interactive Brokers continues to focus on unparalleled global market access, coupled with products that support the investment objectives of local investors,” said Milan Galik, Chief Executive Officer at Interactive Brokers. “The launch of the ISK reinforces our commitment to European growth and offers Swedish investors a simple way to start their investment journey or reach their savings goals in a tax-efficient account.”

Key Benefits of the ISK for Swedish Investors:

Tax-Advantaged Savings: No capital gains tax on transactions. Instead, the Swedish Tax Authority determines a standardized annual tax based on the account’s average value and contributions.

Easy to Manage: No requirement to report each transaction on individual tax returns.

Flexible Investing: Build globally diversified portfolios with access to a wide range of investment products.

No Withdrawal Tax: Funds can be withdrawn at any time, as taxation is handled annually at the account level.

In addition, investors using the ISK benefit from Interactive Brokers’ broader platform advantages, including low-cost access to US and global equities. Clients can trade US exchange-listed stocks with commissions significantly lower than those of many traditional brokers. Additional details in the trading cost comparison chart are available here: US Stock Trading Costs for European Residents.

Interactive Brokers will soon expand the ISK offering by adding locally traded equities, ETFs, and derivatives, and will also enable investors to transfer existing ISKs from other brokers.

For additional information, please visit: ISK Accounts

The best-informed investors choose Interactive Brokers

About Interactive Brokers Group, Inc.:

Interactive Brokers Group, Inc. (NASDAQ: IBKR) is a member of the S&P 500. Its affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, Stockbrokers.com, and many others.

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September 30, 2025 04:15 ET

 | Source:

Upstream Bio

– Data show verekitug prevents TSLP binding to the TSLP receptor by occupying ligand binding sites –

– Additionally, findings show that verekitug outcompetes TSLP in the presence of preformed heterodimeric receptor complexes –

– Data support the potential of verekitug’s unique mechanism of action to achieve a differentiated therapeutic effect across a broad range of TSLP-driven severe respiratory diseases –

WALTHAM, Mass., Sept. 30, 2025 (GLOBE NEWSWIRE) -- Upstream Bio, Inc. (Nasdaq: UPB), a clinical-stage company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders, today presented structural and mechanistic data showing verekitug’s potent pharmacodynamic activity through its unique approach of targeting the thymic stromal lymphopoietin (TSLP) receptor. Data were presented at the European Respiratory Society (ERS) Congress being held September 27 – October 1, 2025, in Amsterdam, Netherlands.

“We continue to deepen our understanding of verekitug’s unique TSLP receptor-targeting mechanism and its role in driving the rapid and durable effects that have been demonstrated to date,” said Aaron Deykin, MD, Chief Medical Officer and Head of R&D of Upstream Bio. “In the clinic, we are also now beginning to see that the potency driven by this mechanism of action can translate into a differentiated clinical profile with our recently reported Phase 2 top-line clinical data in patients with chronic rhinosinusitis with nasal polyps where verekitug delivered statistically significant and clinically meaningful effects on multiple endpoints when administered only once every 12 weeks. We look forward to continuing to build the clinical dataset for verekitug with Phase 2 top-line data in severe asthma anticipated in the first quarter of 2026.”

Preclinical and clinical data to date demonstrate verekitug’s highly potent inhibition of the TSLP receptor. In clinical trials, verekitug has demonstrated rapid, substantial, and sustained TSLP receptor inhibition for up to 24 weeks after the last dose. This unique mechanism of action may translate to a differentiated clinical profile with less frequent dosing as compared to currently approved biologic therapies.

Mechanistic studies were performed to elucidate drivers of this high magnitude of effect seen with verekitug’s TSLP receptor inhibition. Data presented are summarized as follows:

With high affinity binding (KD < 1 pM) to the TSLP receptor, verekitug outcompetes TSLP binding to the TSLP receptor even in the presence of preformed heterodimeric receptor complexes, inhibiting TSLP:TSLP receptor interaction.The high-resolution crystal structure reveals that verekitug binds and occupies most of the TSLP binding sites on the TSLP receptor.Semi-mechanistic pharmacokinetic/pharmacodynamic (PK/PD) models indicate that lower abundance and slower turnover of the TSLP receptor compared to the TSLP ligand may drive the greater potency of verekitug, observed in vitro and across clinical datasets, compared to published data for tezepelumab.These findings provide a mechanistic explanation for the empirically observed greater potency of targeting the TSLP receptor with verekitug as compared with targeting the TSLP ligand. A digital version of the presentation can be found on the Publications section of the Upstream Bio website.

About TSLP and TSLP Receptor Blockade
Thymic stromal lymphopoietin (TSLP) is a cytokine that is a key driver of the inflammatory response in major allergic and inflammatory diseases, such as asthma, where disruption of TSLP signaling has been clinically validated as an effective therapeutic strategy.

TSLP activation is one of the first events in the inflammatory cascade stimulated by allergens, viruses and other triggers, initiating the activation of downstream targets such as IL-4, IL-5, IL-13, IL-17 and IgE. Because TSLP is a target upstream in the inflammatory cascade, blocking the TSLP receptor presents an opportunity for a single treatment to impact the drivers of multiple pathological inflammatory processes across a broad set of diseases.

About Verekitug
Verekitug is a novel recombinant fully human immunoglobulin G1 (IgG1) monoclonal antibody that binds to the TSLP receptor and inhibits proinflammatory signaling initiated by TSLP. It is the only known monoclonal antibody currently in clinical development that targets and inhibits the TSLP receptor. Verekitug has advanced into three separate global, placebo-controlled, randomized Phase 2 clinical trials including the recently completed VIBRANT trial (NCT06164704) in patients with chronic rhinosinusitis with nasal polyps (CRSwNP), which demonstrated that verekitug, dosed at 100 mg once every 12 weeks, met both the primary and secondary endpoints at Week 24 and was generally well tolerated. Two additional ongoing clinical trials include the VALIANT trial (NCT06196879) in patients with severe asthma and the VENTURE trial (NCT06981078) in patients with moderate-to-severe chronic obstructive pulmonary disease (COPD). Additionally, in May 2025, Upstream Bio initiated the VALOUR trial (NCT06966479), a long-term extension study in eligible participants with severe asthma who completed the VALIANT Phase 2 clinical trial.

In preclinical studies, verekitug demonstrated high occupancy of the TSLP receptor and potent inhibition of TSLP signaling. Additionally, verekitug inhibited cytokine production from both CD4+ T cells and ILC2 cells and completely suppressed skin allergic reactions in a non-human primate model, suggesting that it may be effective against multiple types of inflammation.

Three Phase 1 clinical trials have been completed for verekitug, including a Phase 1 single-ascending dose (SAD) clinical trial and a Phase 1b multiple-ascending dose (MAD) clinical trial. In these trials, verekitug was well tolerated, had no clinically meaningful immunogenicity, and showed a predictable and consistent pharmacokinetic profile and high subcutaneous bioavailability. In patients with asthma, verekitug led to >50% reductions in fractional exhaled nitric oxide (FeNO) and blood eosinophils that were rapid and sustained for up to 24 weeks after the last dose in the Phase 1b MAD trial.

About Upstream Bio
Upstream Bio is a clinical-stage biotechnology company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders. Upstream Bio is developing verekitug, the only known antagonist currently in clinical development that targets the receptor for thymic stromal lymphopoietin (TSLP), a cytokine which is a clinically validated driver of inflammatory response positioned upstream of multiple signaling cascades that affect a variety of immune mediated diseases. Upstream Bio has advanced this highly potent monoclonal antibody into separate Phase 2 trials for the treatment of chronic rhinosinusitis with nasal polyps (CRSwNP), severe asthma and chronic obstructive pulmonary disease (COPD). Upstream Bio’s team is committed to maximizing verekitug’s unique attributes to address the substantial unmet needs for patients underserved by today’s standard of care. To learn more, please visit www.upstreambio.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “predict,” “project,” “seeks,” “should,” “target,” “will” and variations of these words or similar expressions. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, express or implied statements regarding: the clinical development of verekitug for the treatment of severe asthma, CRSwNP and COPD, including the initiation, timing, progress and results of ongoing and planned clinical trials; expectations for future discussions with regulatory authorities and the potential of the endpoints of the Company’s clinical trials to produce data that could support submissions for product approval; expectations regarding the differentiation, safety, efficacy or tolerability of verekitug; expectations regarding the translation of PK/PD modeling data of verekitug to clinical effects; and assessments comparing non-head-to-head clinical data of verekitug to published data for tezepelumab. Any forward-looking statements in this press release are based on the Company’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results, levels of activity, safety, efficacy, performance or events and circumstances could differ materially from those expressed or implied in the Company’s forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to: Upstream Bio’s ability to advance verekitug through clinical development, and to obtain regulatory approval of and ultimately commercialize verekitug on the expected timeline, if at all; the initiation, timing, progress and results of clinical trials; Upstream Bio’s ability to fund its development activities and achieve development goals; Upstream Bio’s dependence on third parties to conduct clinical trials and manufacture verekitug, and commercialize verekitug, if approved; Upstream Bio’s ability to attract, hire and retain key personnel, and protect its intellectual property; Upstream Bio’s financial condition and need for substantial additional funds in order to complete development activities and commercialize verekitug, if approved; regulatory developments and approval processes of the U.S. Food and Drug Administration and comparable foreign regulatory authorities; Upstream Bio’s competitors and industry; and other risks and uncertainties described in greater detail under the caption “Risk Factors” in Upstream Bio’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as well as any subsequent filings with the SEC. Any forward-looking statements represent Upstream Bio’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Upstream Bio explicitly disclaims any obligation or undertaking to update any forward-looking statements contained herein to reflect any change in its expectations or any changes in events, conditions or circumstances on which any such statement is based except to the extent required by law, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Investor and Media Contact:
Meggan Buckwell
Director, Corporate Communications and Investor Relations
[email protected]

Falcon Oil & Gas Ltd.

Tamboran to acquire Falcon Oil & Gas Ltd. to create ~2.9-million-acre Beetaloo Basin business

30 September 2025

Highlights

Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) (Falcon) and Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) (Tamboran) have entered into a definitive agreement to create an ~2.9 million net prospective acre business across the majority of the Beetaloo depocenter (Transaction).The combination of Tamboran and Falcon is a logical consolidation of two leading Beetaloo Basin businesses and creates a company with a pro forma market capitalization of >US$500 million.Under the Transaction, Tamboran will acquire Falcon via the acquisition of all its subsidiaries in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and cash consideration of US$23.7 million.On completion, Falcon will distribute Tamboran shares to eligible shareholders at an exchange ratio of 0.00687 shares of Tamboran NYSE Common Stock for each Falcon Common Stock. These shareholders are expected to own ~26.8% of the pro forma business.The Transaction values Falcon’s subsidiaries at C$239 million (Stg£128 million), at an implied offer price of C$0.2154 (Stg£0.1152) per share. This reflects a 19.7% premium of the closing price of Falcon on the TSX on September 29, 2025 and a 53.2% premium to the 90-day traded VWAP.The Transaction aims to strengthen Tamboran’s working interest in the Phase 2 Development Area to 80.62% ahead of the previously announced farmout process and creates further alignment with Daly Waters Energy, LP (DWE) across the entire EP 76, 98 and 117 acreage following completion of the previously announced checkerboard process.The Transaction has been unanimously approved by the Board of Directors of Tamboran and Falcon.The Transaction is expected to close by the first quarter of 2026, subject to satisfaction of closing conditions, including the approval by Falcon shareholders of the Transaction pursuant to Rule 15 of the AIM Rules for Companies and applicable Canadian corporate and securities laws and the approval by Tamboran stockholders of the issuance of the Tamboran Common Stock.The Transaction will on completion result in Falcon ceasing to own all of its assets and business; accordingly, Falcon also intends to seek shareholder approval for the cancellation of its shares from trading on the AIM market of the London Stock Exchange and the TSX Venture Exchange (Cancellation), conditional on closing of the Transaction. Further details will be announced in due course.The entities being acquired pursuant to the Transaction are Falcon’s wholly owned subsidiaries TXM Oil and Gas Exploration Kft., a Hungarian limited liability company; Falcon Oil & Gas Ireland Ltd., an Irish limited liability company; Falcon Oil & Gas Holdings Ireland Ltd., an Irish limited liability company; Falcon Exploration and Production South Africa (Pty) Ltd., a South African limited liability company and Falcon’s 98.1% majority owned subsidiary, Falcon Oil & Gas Australia Limited, an Australian limited liability company (the Subsidiaries). In the twelve months to 31 December 2024, the subsidiaries reported a loss for the year of US$2.2 million and total assets of US$60.7 million. Falcon Oil & Gas Ltd. Chief Executive Officer, Philip O'Quigley, said:

“This Transaction brings Falcon’s shareholders’ interests in the Beetaloo directly to the centre of operations and provides our shareholders with greater exposure to all activities carried out by Tamboran. Upon closing of the Transaction Falcon shareholders will benefit from the increased exposure to the critically important pilot development currently underway in the Beetaloo. In addition, this Transaction will remove any uncertainty around Falcon’s participation in the farmout of the Phase 2 Development Area, as previously announced by Tamboran.

It has been a pleasure to work with Dick Stoneburner and his team in bringing this Transaction to our shareholders.”

Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said:

“The Transaction between Tamboran and Falcon is a logical consolidation of two of the Beetaloo Basin’s most active companies and will strengthen Tamboran’s acreage position across the majority of the Beetaloo depocenter following the checkerboarding process with Daly Waters Energy, LP. (DWE).

Tamboran will have approximately 2.9 million net prospective acres across the Beetaloo Basin, including a 22.5% non-operating interest in all DWE checkers.

Strategically, we believe this Transaction will strengthen our ownership over the Phase 2 Development Area, where we are currently undertaking a farmout process with RBC Capital Markets. This will allow us to sell down a larger position to a new partner while maintaining a material working interest over acreage.

We recognize Philip and the Falcon shareholders for their work in identifying the opportunity of the Beetaloo Basin and bringing in key historic partners including Hess Corporation and Origin Energy to help de-risk the play.”

Transaction

The Transaction will be structured as a Plan of Arrangement under the Business Corporations Act (British Columbia), whereby Tamboran will acquire the equity interests of each of the subsidiaries of Falcon in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and a cash consideration of US$23.7 million. Following completion of the Transaction, Falcon shareholders are expected to own ~26.8% of the pro forma business.
Following completion of the Transaction, eligible common shareholders of Falcon will be entitled to receive shares of Tamboran NYSE Common Stock that are distributed by Falcon based on an exchange ratio of 0.00687 shares of Tamboran Common Stock for each Falcon Common Stock.

Further details regarding the process for Falcon shareholders to receive their consideration will be provided in the information circular and proxy statement to be delivered by Falcon in connection with the solicitation of proxies to obtain Falcon shareholder approval of the proposed Transaction.

The Transaction has been unanimously approved by the Board of Directors of Tamboran and Falcon and is expected to close in the first quarter of 2026, subject to satisfaction of closing conditions, including the approval by Falcon shareholders of the Transaction and the approval by Tamboran stockholders of the issuance of the Tamboran NYSE Common Stock.

The closing is also subject to shareholder approval by the 1.9% owners of Falcon Oil & Gas Australia Ltd (Falcon Australia), which is a public unlisted company in which Falcon owns 98.1% of the issued share capital. The approval is required under Item 7, Section 611 of the Corporations Act of Australia.

Upon closing of the Transaction, the entire Board of Falcon will resign. Tamboran will continue to be led by Chairman and Interim CEO, Dick Stoneburner, and no changes to the Board of Directors of Tamboran are planned.

Advisors
Cavendish Capital Markets Limited is acting as exclusive financial advisor and Borden Ladner Gervais LLP is acting as legal advisor to Falcon and McCullough Robertson is acting as legal advisors to Falcon Oil & Gas Australia Limited. Latham & Watkins LLP, Torys LLP, White & Case LLP and Lakatos, Köves and Partners (LKT) are serving as legal advisors to Tamboran.

CONTACT DETAILS:

Falcon Oil & Gas Ltd.         +353 1 676 8702Philip O’Quigley, CEO+353 87 814 7042Anne Flynn, CFO+353 1 676 9162 Cavendish Capital Markets Limited (Financial Adviser, NOMAD & Broker)Neil McDonald+44 131 220 9771   The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.

Figure 1: Tamboran acreage position across the Beetaloo Sub-basin depocenter (please refer to the pdf version of the announcement for the map)

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

About Tamboran Resources Corporation

Tamboran Resources Corporation (“Tamboran” or the “Company”), through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia.

Tamboran’s key assets include a 47.5% operating interest over 20,309 acres in the proposed northern Pilot Area, a 38.75% non-operating interest over 20,309 acres in the proposed southern Pilot Area, a 58.13% operating interest in the proposed Phase 2 development area covering 406,693 acres, a 67.83% operated interest over 219,030 acres in a proposed Retention License 10, a 77.5% operating interest across 1,487,418 acres over ex-EPs 76, 98 and 117, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all located in the Beetaloo Basin.        

The Company has also secured ~420 acres (170 hectares) of land at the Middle Arm Sustainable Development Precinct in Darwin, the location of Tamboran’s proposed NTLNG project.

Forward-Looking Statements

Certain statements in this news release concerning the Transaction, including any statements regarding the expected timetable for completing the Transaction, the results, effects, benefits and synergies of the Transaction, future opportunities for the combined company, future financial performance and condition, guidance and any other statements regarding Tamboran’s or Falcon’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are “forward-looking” statements based on management’s current expectations, assumptions and estimates on the date hereof, and there can be no assurance that actual strategies, actions or results will not differ materially from expectations. Forward-looking statements are all statements other than statements of historical facts. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “probable,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “would,” “potential,” “may,” “might,” “anticipate,” “likely” “plan,” “positioned,” “strategy,” and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding Tamboran’s or Falcon’s plans and expectations with respect to the Transaction, timing of closing, and the anticipated impact of the Transaction on the combined company’s results of operations, financial position, growth opportunities and competitive position.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the possibility that stockholders of Tamboran may not approve the issuance of new shares of Tamboran common stock in the Transaction or that shareholders of Falcon may not approve the Transaction; the risk that a condition to closing of the Transaction may not be satisfied; that either party may terminate the arrangement agreement or that the closing of the Transaction might be delayed or not occur at all; the outcome of any legal proceedings that may be instituted against Tamboran or Falcon; reputational risks and potential adverse reactions from or changes to the relationships with the companies’ employees or other business partners of Tamboran or Falcon, including those resulting from the announcement or completion of the Transaction; the diversion of management time on transaction-related issues; the dilution caused by Tamboran’s issuance of common stock in connection with the Transaction; the ultimate timing, outcome and results of integrating the operations of Tamboran and Falcon; the effects of the business combination of Tamboran and Falcon, including the combined company’s future financial condition, results of operations, strategy and plans; changes in capital markets and the ability of the combined company to finance operations in the manner expected; regulatory approvals of the Transaction; the effects of commodity prices; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the Transaction. Expectations regarding business outlook, including changes in strategies for the combined company’s operations, oil and natural gas market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.

These factors are not necessarily all of the factors that could cause Tamboran or Falcon actual results, performance, or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other unknown or unpredictable factors also could harm Tamboran’s or Falcon’s results. Additional factors that could cause results to differ materially from those described above can be found in Tamboran’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025, and subsequent Quarterly Reports on Form 10-Q, which are on file with the Securities and Exchange Commission (the “SEC”) and available from Tamboran’s website at www.tamboran.com under the “Investor Relations” tab, and in other documents Tamboran files with the SEC; and in Falcon’s annual information form for the year ended December 31, 2024, which is on SEDAR+ and available from Falcon’s website at www.falconoilandgas.com under the “Investor Centre” tab, and in other documents Falcon files on SEDAR+.

All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Tamboran nor Falcon assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by applicable securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

No Offer or Solicitation

Communications in this news release do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the proposed Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. None of the securities anticipated to be issued pursuant to the Transaction have been or will be registered under the Securities Act, or any state securities laws, and any securities issued in the Transaction are anticipated to be issued in reliance upon available exemptions from registration requirements pursuant to Section 3(a) (10) of the Securities Act and applicable exemptions under state securities laws. This announcement doe not constitute an offer to sell or the solicitation of an offer to buy any securities.

Additional Information and Where You Can Find It

In connection with the proposed Transaction, Tamboran and Falcon intend to file materials with the SEC and on SEDAR+, as applicable. Tamboran intends to file a preliminary Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC in connection with the solicitation of proxies to obtain Tamboran stockholder approval of the Stock Issuance, and Falcon intends to file an information circular and proxy statement (the “Circular”) on SEDAR+ in connection with the solicitation of proxies to obtain Falcon shareholder approval of the proposed Transaction. After the Proxy Statement is cleared by the SEC, Tamboran intends to mail a definitive Proxy Statement to the stockholders of Tamboran. This news release is not a substitute for the Proxy Statement, the Circular or for any other document that Tamboran or Falcon may file with the SEC or on SEDAR+ and/or send to Tamboran’s stockholders and/or Falcon’s shareholders in connection with the proposed Transaction. INVESTORS AND SECURITY HOLDERS OF TAMBORAN AND FALCON ARE URGED TO CAREFULLY AND THOROUGHLY READ THE PROXY STATEMENT AND THE CIRCULAR, RESPECTIVELY, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY TAMBORAN AND/OR FALCON WITH THE SEC OR ON SEDAR+, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TAMBORAN, FALCON, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS.

Stockholders of Tamboran and shareholders of Falcon will be able to obtain free copies of the Proxy Statement and the Circular, as each may be amended from time to time, and other relevant documents filed by Tamboran and/or Falcon with the SEC or on SEDAR+ (when they become available) through the website maintained by the SEC at www.sec.gov or at www.sedarplus.ca, as applicable. Copies of documents filed with the SEC by Tamboran will be available free of charge from Tamboran’s website at www.tamboran.com under the “Investor Relations” tab or by contacting Tamboran’s Investor Relations Department at +61 2 8330 6626 or [email protected]. Copies of documents filed on SEDAR+ by Falcon will be available free of charge from Falcon’s website at www.falconoilandgas.com under the “Investor Centre” tab or by contacting Falcon’s Investor Relations Department at +353 1 676 8702.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.        

                                                                                                                                      Ends.

09302025 FINAL Falcon Press release - FOG agreement announcement

By Reuters

September 30, 20256:25 AM UTCUpdated ago

Sept 30 (Reuters) - British lender Close Brothers

(CBRO.L), opens new tab reported an annual profit of 144.3 million pounds ($193.88 million) on Tuesday, beating market estimates, as cost-saving measures and selective lending helped offset pressure from the motor finance commission probe.

Analysts had estimated 125 million pounds in adjusted operating profit from continuing operations for the year ended July 31, according to a company-compiled consensus.

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Reporting by DhanushVignesh Babu in Bengaluru; Editing by Sherry Jacob-Phillips

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

Capgemini becomes an Official Partner of Six Nations Rugby to enrich the fan experience through data and technology

The new five-year partnership encompasses the Guinness Men’s Six Nations and Guinness Women’s Six Nations, as well as the Quilter Nations Series and Summer Nations Series

Paris, September 30, 2025 – Capgemini announced today that it has become the Official Digital Transformation Partner of Six Nations Rugby, spanning the men’s and women’s game, up to 2029. This five-year partnership is the next chapter in Capgemini’s longtime rugby story, building on its commitment to elevate and expand the rugby fan experience through cutting-edge technology, data-driven insights, and fan-centric innovation.

As part of the new long-term collaboration, Capgemini becomes the Official Digital Transformation Partner of Six Nations Rugby, and its annual Men’s and Women’s Six Nations Championships, together with the Autumn Nations Series, which kicks off on November 1st, and the Summer Nations Series.

In 2025, the Guinness Men’s Six Nations was watched by nearly 130 million fans globally, signaling a 6% increase in audience compared to the previous year1. In 2026, the Championship kicks off in February with a unique Thursday night fixture, paving the way for five rounds of unmissable entertainment that continues to hold its place alongside some of the most loved and respected events in world sport. In the women’s game, next year's Guinness Women’s Six Nations will be the next international women’s rugby event, following this year’s captivating Women’s Rugby World Cup. Through this new partnership, Capgemini and Six Nations Rugby will be at the heart of driving rugby’s audience engagement and growth ambitions.

Over the next five years, Capgemini plans to leverage AI and generative AI-powered innovations to deliver deeper match insights, to help viewers better understand key match moments through enhanced match data integration, therefore contributing to the growth and enjoyment of the fan community.

“At Capgemini, we are proud to partner with Six Nations Rugby, a collaboration that reflects our common values and the history of our Group. Indeed, rugby holds a special place at Capgemini, deeply rooted in the legacy of our founder, Serge Kampf, and embedded in the DNA of our Group ever since its creation,” said Aiman Ezzat, Chief Executive Officer of Capgemini. “With the Six Nations Championships being some of the most popular rugby competitions in a number of our main markets, we are excited to bring Capgemini’s broad tech, data and AI expertise to enhance the viewing experience of rugby fans.”

Tom Harrison, CEO of Six Nations Rugby, added: “Inspiring and engaging rugby fans is at the heart of everything we do at Six Nations Rugby, and with the battle for audience attention, all forms of sport and entertainment need to innovate to engage global fans. Capgemini is at the forefront of new advancements in AI, cutting-edge digital technology and innovative uses of data to enhance the experience for rugby fans around the world. Our new partnership will play a vital role in elevating how we present the game of rugby for these fans, and we are all hugely excited to work together to enrich the fan experience, and to ensure that our Championships and competitions continue to set the standard for rugby globally.”

This partnership extends Capgemini’s sports sponsorship portfolio that focuses on bringing the breadth of the Group’s capabilities to enhance leading global events with insights and technological innovation, all with team spirit at the heart. As a global company based in 50 countries, Capgemini has well-established operations across regions with a strong rugby fanbase including France, the UK and Ireland.

Transforming sport through technology and innovation
This latest partnership strengthens Capgemini’s already strong track record in adding value to the fan experience and sporting performance through its portfolio of sports sponsorships.

As Worldwide Partner of the Ryder Cup 2025 in Farmingdale, N.Y., Capgemini developed AI-powered Outcome IQ that delivers dynamic probabilities and match insights. With real-time, context-aware insights, Outcome IQ is set to transform how fans can experience golf’s most iconic team competition across broadcast, digital and social channels.In June 2025, Capgemini announced it is the Official Partner of the Tour de France and Tour de France Femmes avec Zwift until 2029. The ambition is to leverage technology, innovation and AI to grow the cycling community, engage fans all over the world and bring cycling into people’s lives.For the Louis Vuitton 37th America’s Cup in 2024, Capgemini and America’s Cup Media revealed the breakthrough WindSight IQTM that makes the invisible wind visible for the first time ever. Through a combination of technology, engineering, data, and design, Capgemini developed a LiDAR-based sensor system that made the yacht racing more understandable and engaging for viewers. The solution brings together the digital and physical worlds to help viewers visualize the wind and model potential race results, enhancing the fan experience.As part of a multi-year partnership with Peugeot Sport, Capgemini makes its advanced data analysis and artificial intelligence expertise available to Peugeot Sport’s experts. Capgemini provides the Peugeot 9X8 FIA World Endurance Championship (WEC) program team with advanced digital tools and analytics to enhance the performance of the team and the Peugeot 9X8 Hypercar. About Capgemini
Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 350,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.
Get The Future You Want | www.capgemini.com

About Six Nations Rugby
Six Nations Rugby is the official organisation responsible for the annual international rugby competitions that include the Guinness Men’s Six Nations, Guinness Women’s Six Nations, Under-20 Six Nations, Under-18 Festivals, and the Autumn Nations Series.

Six Nations Rugby operates on behalf of and in partnership with its shareholders, that include its member unions and federations: England (RFU), France (FFR), Ireland (IRFU), Italy (FIR), Scotland (SRU) and Wales (WRU).

Primary responsibilities of Six Nations Rugby include the negotiation and management of centralised commercial rights on behalf of its shareholders, as well as the promotion and operation of its annual Championships and competitions.

Six Nations Rugby is proud to work with the following partners: Guinness, Capgemini, Breitling, IHG Hotels & Resorts, and BKT.

For further information about Six Nations Rugby please visit: www.sixnationsrugby.com

For all the latest news, information, statistics, and rights free multimedia, please visit: https://media.sixnationsrugby.com/

1 Data provided by Six Nations Rugby

09_30_Capgemini Six Nations Rugby sponsorship

LONDON--(BUSINESS WIRE)--New analysis from Omdia reveals that 2025 is set to be a breakout year for 5G Standalone (SA) network deployments and RedCap device adoption, unlocking substantial opportunities for IoT applications across industries.

"With 5G SA deployments picking up pace, the industry is finally realizing the true potential of 5G," explains Alexander Thompson, Senior Analyst for IoT at Omdia.

Share
5G Standalone Networks Gain Momentum

After delays in 2024, global 5G SA rollouts are accelerating, delivering on 5G's core promise of ultra-fast speeds, ultra-low latency, and massive connectivity. transformative applications, particularly in manufacturing and industrial automation sectors, and other IoT-driven sectors.

“With 5G SA deployments picking up pace, the industry is finally realizing the true potential of 5G,” explains Alexander Thompson, Senior Analyst for IoT at Omdia. “2025 marks the first-time hardware and network ecosystems are aligned on RedCap, showcased by the recent Apple Watch launch supporting this technology.”

RedCap Devices Hit Key Milestones

The 5G device ecosystem reached a significant milestone. October 2024 saw T-Mobile introduce North America's first commercial 5G RedCap device -the TCL LINKPORT IK511 dongle. While module costs are still high, prices are projected to decrease as adoption increases, particularly in China where government subsidies are anticipated to drive market growth.

Advanced Network Capabilities Gaining Traction

Network slicing has successfully transitioned beyond trial phases with commercial offerings such as T-Mobile's T-Priority and Verizon's FrontLine services. Private 5G networks continue addressing critical security concerns cited by 33% of organizations in Omdia's IoT Enterprise Survey 2025 as the top priority for their IoT initiatives.

Meanwhile, the broader 5G ecosystem is expanding through network API monetization, with several key API families now being deployed globally.

About the Report

Omdia's 5G in IoT report provides an in-depth look at the latest market trends covering network slicing, private 5G implementations, API monetization strategies, 5G Standalone versus Non-Standalone architectures, and ten use cases with supporting case studies.

ABOUT OMDIA

Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets grounded in real conversations with industry leaders and hundreds of thousands of data points, make our market intelligence our clients’ strategic advantage. From R&D to ROI, we identify the greatest opportunities and move the industry forward.

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has confirmed that full development of its Tulu Kapi Gold Project in Ethiopia remains on schedule to begin in October 2025.

"Significant progress was made in the period and KEFI is on schedule to begin the full development program of Tulu Kapi ... We have approved and expect to sign shortly the formal commitment of the project loan facilities. And the construction contracts have been finalised for signing upon drawdown of equity which can now be finalised amongst the assembled local and regional investors," executive chair Harry Anagnostaras-Adams said in Tuesday's interim results statement.

“The Boards of both co-lending banks and of the Group companies have approved and are expected to sign the formal commitment of the project loan facilities within the coming week,” Adams added.

The Tulu Kapi project has a capital budget of US$340 million, and will be supported by a US$240 million project debt facility.

In terms of financials, the pre-revenue mine developer reported a £3.79 million loss for the six months, and said it ended June with just over £1 million of cash in the bank.

"AskGPS" Expected to Save Tens of Thousands of Employee Hours Annually While Enhancing Advisory Services

, /PRNewswire/ -- Bank of America is using generative AI to transform how its Global Payments Solutions ("GPS") team serves the company's more than 40,000 business clients worldwide. The newly launched Ask Global Payments Solutions ("AskGPS") was built in-house and trained on over 3,200 internal documents and presentations – including product guides, term sheets, and FAQs. Through AskGPS, employees can now pose simple to complex client questions and receive answers within seconds.   

"AskGPS turns institutional knowledge into real-time intelligence," said Mark Monaco, head of GPS at Bank of America. "It's more than a search tool—it's a strategic engine, helping our teams respond faster and deliver the kind of clarity and advice clients expect in today's environment."

Previously, a sophisticated inquiry could take an employee an hour to complete and involve making phone calls to product specialists across different regions and time zones. Now, using AskGPS, employees can achieve the same result almost instantly, creating the potential to save tens of thousands of hours annually.

The AI assistant directly benefits Bank of America clients through:

Faster turnaround on product and onboarding inquiries
More tailored solutions, grounded in thousands of vetted internal resources
Enhanced strategic guidance, as salespeople and bankers leverage AI to surface best practices and precedents across sectors and geographies
"AskGPS is a bold leap forward in how we harness GenAI across the enterprise," said Jarrett Bruhn, head of Data & AI for GPS at Bank of America. "By turning static content into dynamic intelligence, we're not just improving access—we're transforming how our teams learn, respond and lead with insight."

The larger AI story

AskGPS complements existing AI solutions provided by Bank of America's GPS team. They include:

CashPro® Chat with Erica® technology. The virtual assistant is used by 65% of business clients for real-time account and transaction support.
CashPro Forecasting that uses predictive analytics to forecast cash positions.
Intelligent Receivables that uses AI and advanced data capture technology to bring together payment information and associated remittance detail from various payment channels.
Bank of America continues to deploy AI across four key domains: intelligent agents, search and summarization, content generation, and operations and coding. These tools are designed to automate routine tasks and empower employees to focus on creativity, conversation, and complex client needs.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact

Louise Hennessy, Bank of America   
Phone: 1.646.858.6471
[email protected]

SOURCE Bank of America Corporation

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SAN JOSE, Calif. & LAUSANNE, Switzerland--(BUSINESS WIRE)--Logitech (SIX: LOGN) (NASDAQ: LOGI) today unveiled the MX Master 4, the newest member of the MX Master series, designed to empower creative professionals, developers and business users. With immersive haptic feedback, advanced software and stronger connectivity, the MX Master 4 sets a new standard in control, precision and productivity even for the most demanding workflows.

Tolya Polyanker, General Manager of the MX Business at Logitech, said, "In today’s fast-paced and demanding world, advanced users need tools that help them redefine their workflows to deliver more in less time. We designed MX Master 4 to bring next level immersion and speed to our users thanks to the tactile haptic feedback and instant access to their favorite tools with the Actions Ring software overlay."

Intuitive Interaction: Haptic Feedback

The MX Master 4 reimagines user control with customizable haptic feedback, delivering subtle vibrations for scrolling, navigation and selection. This tactile precision is ideal for tasks like video editing, design work and data analysis.

Actions Ring

Actions Ring, a digital overlay enabled by Logi Options+, offers app-specific shortcuts and customizable controls to place frequently used tools at your fingertips anywhere on your screen. With features such as assigning commands in Photoshop or automating functions in Excel, professionals can save up to 33% of their time and reduce repetitive mouse movements by 63%.

Designed for uninterrupted workflows, the MX Master 4 features a high-performance chip and optimized antenna, delivering twice the connectivity strength of previous models. The new USB-C dongle ensures quick and dependable pairing across laptops, desktops and tablets, keeping users connected without delays.

With enhanced stain-resistant materials and a durable design that is easy to maintain, MX Master 4 is built to handle the daily challenges of professional use while providing long-lasting performance.

Built for Business

The MX Master 4 for Business makes life easier for both employees and IT teams. It’s easy to deploy across the whole company, and when employees are logged into Logi Tune, IT can monitor the mice remotely through the Logitech Sync management platform, no desk visits needed. For employees using Logi Bolt, it delivers a reliable connection, even in crowded office environments, so they can stay focused and get more done without tech hiccups.

Designed for Sustainability

MX Master 4 is designed with thoughtful choices to reduce environmental impact, carefully selecting materials like a minimum of 48% certified post-consumer recycled plastic, a low-carbon aluminum thumbwheel and a battery featuring 100% recycled cobalt to minimize resource use and carbon emissions. There is paper packaging that is responsibly sourced from FSC™-certified materials, unpainted plastic parts and a design that is easy to disassemble to simplify recycling.

Tech specs:

MagSpeed Scroll Wheel: Scroll up to 1,000 lines per second so you can work faster.

8,000 DPI Sensor: Provides smooth, accurate tracking on virtually any surface, including glass.

Quiet clicks: Provides a satisfying tactile feel with 90% less noise (compared to the MX Master 3), perfect for environments like open spaces and shared offices.

USB-C Quick Charging: A 1-minute charge powers up to 3 hours of use, while a full charge lasts up to 70 days, ensuring you're ready to work without interruptions (charging cable not included).

Multi-Device Pairing: Connect and switch between up to three devices—laptops, desktops, or tablets—without interruptions. Compatible across operating systems, users can switch using the Actions Ring or Easy-Switch buttons and even transfer files between devices with Logi Options+.

Pricing and availability

MX Master 4, will be available in Graphite and Pale Grey globally, and Black and Graphite Charcoal in North America and Europe. MX Master 4 for Mac will be available in White Silver and Space Black. Priced at $119.99/€129.99 , each purchase includes a one-month complimentary membership to Adobe Creative Cloud with apps such as: Photoshop, Lightroom and Premiere Pro. For more details, please visit www.logitech.com or check with your local or online retailer. MX Master 4 for Business will be available in Graphite online and through authorized resellers at $119.99.

About Logitech

Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. As the point of connection between people and the digital world, our mission is to extend human potential in work and play, in a way that is good for people and the planet. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech and its other brands, including Logitech G, at www.logitech.com or company blog.

Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A. and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.

* Logitech Ergo Lab study (2025) with 37 MX Master mouse users tested across 8 desktop actions. Results may vary depending on assigned shortcuts.

VANCOUVER, BC – TheNewswire - SEPTEMBER 30, 2025 – AMERICAN SALARS LITHIUM INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) announces that pursuant the to a share purchase agreement (“144 Agreement”) dated for reference February 17, 2025, announced February 18, 2025, it has completed the acquisition of 100% of the issued and outstanding common shares of 1447377 BC Ltd. (“1447377”), a private BC company that owns a 100% interest in the Hardrock LCT Pegmatite Property (the “Property”). The Property consists of 10 mineral claims covering 18,083 hectares, located in the Jaguaribe/Solonópole region in the State of Ceará, in Northern Brazil.

In accordance with the 144 Agreement, American Salars issued 3,500,000 units (the “Units”) in the capital of the Company, at a deemed price of $0.07 per unit, in exchange for all the issued and outstanding common shares of 1447377 (the “Transaction”). Each Unit will consist of one common share in the capital of the Company and one transferrable common share purchase warrant entitling the holder to purchase one additional Company Share for $0.20 for a period of three years from the date of issuance.

All securities issued pursuant to the Transaction, are subject to a statutory hold period of four months and one day following the date of issuance as required under applicable securities legislation.

MI 61-101 Disclosure – Acquisition

Mr. Nick Horsley, CEO of the Company, is a director of 1447377 BC Ltd. and an indirect shareholder of 1447377 BC Ltd. and, as such, the acquisition is a related-party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The acquisition is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b) of MI 61-101 as the Company's common shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101 in that the fair market value of the consideration to be issued pursuant to the acquisition will not exceed 25 per cent of the company's market capitalization. The Company’s two independent board members had due diligence conducted by Mitchell Lavery who reviewed the available geological information to determine if the Company should acquire the property.

ABOUT AMERICAN SALARS

American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, TikTok, Facebook and Instagram.

On Behalf of the Board of Directors,

“R. Nick Horsley”

R. Nick Horsley, CEO

For further information, please contact:

American Salars Lithium Inc.

Phone: 604.740.7492

E-Mail: [email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

A large gantry crane stands at the shipyard of Thyssenkrupp Marine Systems (TKMS), Thyssenkrupp's warship division that will be spun-off and listed separately later this year, on the day of the brand launch in Kiel, Germany, June 4, 2025. REUTERS/Fabian Bimmer Purchase Licensing Rights, opens new tab

CompaniesFRANKFURT/DUESSELDORF, Sept 30 (Reuters) - TKMS, the defence division to be spun off by German conglomerate Thyssenkrupp

(TKAG.DE), opens new tab, plans a payout ratio of 30 to 50% of net profit and wants to distribute its first dividend to shareholders in 2027, according to slides published on Tuesday.

TKMS, which makes submarines, frigates as well as sensor and mine-hunting technology, has more than tripled its order backlog over the past five years, now boasting 18.6 billion euros ($21.83 billion) as governments around a world are beefing up their warship fleets.

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TKMS has helped its parent Thyssenkrupp triple shares year-to-date, as investors have flocked to defence stocks in the wake of Russia's ongoing war in Ukraine and dwindling certainty over U.S. military support going forward.

Thyssenkrupp shares have tripled since the beginning of the year, reflecting a surge in defence stocks in anticipation of higher demand across Europe.As a result, TKMS expects its addressable market to double to 61 billion euros by 2033, up from 31 billion in 2024, it said in the slides that were published as part of a capital markets day for investors ahead of the spin-off planned this autumn.

In the medium term, TKMS plans to raise its operating profit margin to more than 7%, compared with 4.3% in the 2023/24 fiscal year, and targets average annual sales growth of 10%, the slides showed.

The unit's capital expenditure is expected to rise to more than 400 million euros over the next three years, up from around 360 million over the past three years.

Shares in Thyssenkrupp were 2% lower at 0706 GMT following the news.

($1 = 0.8522 euros)

Reporting by Christoph Steitz, Editing by Miranda Murray

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

 

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

VANCOUVER, BC – TheNewswire - September 30, 2025 — Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5 | CSE: BFG.WT.A | CSE: BFG.WT.B) (“Giant Mining” or the “Company”) today announced that it has entered into an equity distribution agreement dated September 29, 2025 (the “Distribution Agreement”) with Haywood Securities Inc. (“Haywood” or the “Agent”). Under the Distribution Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the Distribution Agreement, to sell, through Haywood, as sole and exclusive placement agent, such number of common shares of the Company (the “Common Shares”) having an aggregate gross sales price of up to $5 million (the “ATM Offering”).  Sales of the Common Shares will be made through “at-the-market distributions”, as defined in National Instrument 44-102 – Shelf Distributions, directly on the Canadian Securities Exchange (the “CSE”) or, if any, other recognized Canadian “marketplace” within the meaning of National Instrument 21-101 – Marketplace Operations where the Common Shares are listed, quoted or otherwise traded.  The volume and timing of distributions under the ATM Offering, if any, will be determined in the Company’s sole discretion.  The Common Shares will be distributed at market prices or prices related to prevailing market prices from time to time.  As a result, prices of the Common Shares sold under the ATM Offering will vary as between purchasers and during the period of distribution.  The ATM Offering will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Offering and June 29, 2027, unless terminated prior to such date by the Company or the Agent in accordance with the terms of the Distribution Agreement.

Distributions of the Common Shares under the ATM Offering will be made and qualified by way of a prospectus supplement dated September 29, 2025 (the “Prospectus Supplement”) to the Company’s existing short form base shelf prospectus (the “Base Shelf Prospectus”) dated May 29, 2025. The Prospectus Supplement has been filed with the securities commissions in all provinces and territories of Canada. The Prospectus Supplement (together with the related Base Shelf Prospectus) is available on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca.  Alternatively, the Company or Haywood will send the Prospectus Supplement (including the Base Shelf Prospectus) upon request.  Such requests may be made by sending an email to Haywood at [email protected].

The Company intends to use the net proceeds of the ATM Offering to towards the continuation of the drill program on the Marjuba Hill Project and general working capital.

The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board of Giant Mining Corp.

“David Greenway”

David C. Greenway

President & CEO

For further information, please contact:

E: [email protected]

P: 1 (236) 788-0643

VISIT OUR WEBSITE FOR MORE DETAILS

www.giantminingcorp.com

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Forward-Looking Statements

This news release contains forward-looking information, such as statements related to the closing of the ATM Offering, receipt and approval for the ATM Offering, including the approval of the CSE, the use of proceeds, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the Company’s strategy, projects or plans could cause actual results to differ materially from the Company's expectations as disclosed in the Company's documents filed from time to time on SEDAR+ (see www.sedarplus.ca). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

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.

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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.