Oil States International reports $3.12 million net income for Q3 2026

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For the quarterly period ended June September 30, 2026

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As of July 24, October 23, 2026, the number of shares of common stock outstanding was 60,322,619 59,808,160 .

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Financial statements 418 changes

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Three Months Ended June 30, Six Months Ended June 30,

Products $ 98,753 $ 107,342 $ 191,333 $ 207,893

Services 57,906 58,064 110,689 117,451

Product costs 77,724 83,936 152,091 164,265

Service costs 40,227 41,404 77,449 83,752

Selling, general and administrative expense 23,127 22,981 43,151 45,511

Depreciation and amortization expense 8,061 11,898 16,250 23,923

Three Months Ended September 30, Nine Months Ended September 30,

Products $ 109,845 $ 106,492 $ 301,178 $ 314,385

Services 59,919 58,688 170,608 176,139

Product costs 88,639 85,561 240,730 249,826

Service costs 41,435 43,085 118,884 126,837

Cost of revenues (exclusive of depreciation and amortization expense presented below) 117,951 125,340 229,540 248,017 130,074 128,646 359,614 376,663

Selling, general and administrative expense 23,994 20,756 67,145 66,267

Depreciation and amortization expense 8,046 12,128 24,296 36,051

Impairments of operating lease assets 1,358 1,358

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Other operating income, net ( 4,192 ) ( 1,448 ) ( 4,293 ) ( 4,381 )

Operating income 11,712 5,277 15,990 10,916

Interest expense, net ( 508 ) ( 1,692 ) ( 1,683 ) ( 3,270 )

Other income (expense), net ( 3,281 ) 636 ( 3,133 ) 774

Income before income taxes 7,923 4,221 11,174 8,420

Income tax provision ( 2,013 ) ( 1,410 ) ( 4,156 ) ( 2,451 )

Net income $ 5,910 $ 2,811 $ 7,018 $ 5,969

Other operating (income) expense, net 1,315 ( 1,098 ) ( 2,978 ) ( 5,479 )

Operating income 6,335 4,748 22,325 15,664

Interest expense, net ( 1,308 ) ( 1,773 ) ( 2,991 ) ( 5,043 )

Other income (expense), net 226 362 ( 2,907 ) 1,136

Income before income taxes 5,253 3,337 16,427 11,757

Income tax provision ( 2,137 ) ( 1,437 ) ( 6,293 ) ( 3,888 )

Net income $ 3,116 $ 1,900 $ 10,134 $ 7,869

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Basic $ 0.10 $ 0.05 $ 0.12 $ 0.10

Diluted 0.10 0.05 0.12 0.10

Basic $ 0.05 $ 0.03 $ 0.17 $ 0.13

Diluted 0.05 0.03 0.17 0.13

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Basic 58,479 59,154 58,132 59,661

Diluted 58,627 59,154 58,541 59,661

Basic 58,079 57,946 58,114 59,089

Diluted 58,249 58,016 58,452 59,144

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Three Months Ended June 30, Six Months Ended June 30,

Net income $ 5,910 $ 2,811 $ 7,018 $ 5,969

Three Months Ended September 30, Nine Months Ended September 30,

Net income $ 3,116 $ 1,900 $ 10,134 $ 7,869

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Currency translation adjustments 710 9,092 ( 508 ) 14,631

Comprehensive income $ 6,620 $ 11,903 $ 6,510 $ 20,600

Currency translation adjustments ( 607 ) ( 1,300 ) ( 1,115 ) 13,331

Comprehensive income $ 2,509 $ 600 $ 9,019 $ 21,200

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Inventories, net 209,621 183,409

Total assets $ 839,491 $ 883,431

Cash and cash equivalents $ 19,802 22,915 $ 69,914

Accounts receivable, net 196,926 200,088 202,445

Inventories, net 220,383 183,409

Assets held for sale 18,584 14,439 17,350

Prepaid expenses and other current assets 19,572 16,712 22,173

Total current assets 464,505 474,537 495,291

Property, plant, and equipment, net 232,247 228,840 244,382

Operating lease assets, net 13,945 13,686 12,731

Goodwill, net 70,337 70,312 70,524

Other intangible assets, net 28,637 27,297 31,455

Other noncurrent assets 29,820 29,931 29,048

Total assets $ 844,603 $ 883,431

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Accounts payable 69,000 68,090

Accrued liabilities 32,208 38,480

Deferred revenue 88,321 97,195

Total liabilities 258,115 310,240

Current portion of long-term debt $ 650 1,617 $ 53,370

Accounts payable 70,429 68,090

Accrued liabilities 36,992 38,480

Current operating lease liabilities 5,676 5,931 7,286

Income taxes payable 1,746 1,094 1,759

Deferred revenue 84,777 97,195

Total current liabilities 197,601 200,840 266,180

Long-term debt 17,778 18,423 1,670

Long-term operating lease liabilities 12,118 11,499 12,654

Deferred income taxes 5,607 5,775 5,765

Other noncurrent liabilities 25,011 24,485 23,971

Total liabilities 261,022 310,240

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Retained earnings 171,301 164,283

Common stock, $ .01 par value, 200,000,000 shares authorized, 82,179,784 82,119,124 shares and 80,538,758 shares issued, respectively

Additional paid-in capital 1,156,353 1,160,054 1,145,642

Retained earnings 174,417 164,283

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MD&A 179 changes

The following discussion and analysis should be read together with our condensed consolidated financial statements and notes to those statements included elsewhere in this Quarterly Report on Form 10-Q and our consolidated financial statements and notes to those statements included in our 2025 Annual Report on Form 10-K, as amended by our 2025 Annual Report on Form 10-K/A, in order to understand factors, such as charges financing transactions and changes in tax regulations, credits, which may impact comparability from period to period. of the selected financial data.

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(2) On July 28, October 23, 2026, the spot price per barrel of Brent and WTI crude oil closed at $85.51 $128.30 and $80.91, $109.72, respectively.

The spot price per barrel of Brent crude oil averaged $103 $96 in the second third quarter of 2026, an increase of $39, $33, or 61%, 51%, from the fourth quarter of 2025 following the escalation of military actions in the Middle East in late-February 2026. Despite the increases in crude oil prices, these evolving military actions have resulted in customer delays in project awards, cost increases and supply-chain and logistical constraints in the Middle East region, which have negatively impacted demand for our products and services in the area and limited our access to and increased the price of certain raw materials and other products used in our operations during the first half nine months of 2026. The conflict has also resulted in damage to crude oil refining and storage facilities and severely limited tanker access to the region, causing operators to shut in or limit crude oil production. Continuation or expansion of these military hostilities and export constraints in the Middle East will likely negatively impact our results of operations over the balance of 2026 and possibly beyond. As a major oil producer, Iran s involvement has heightened concerns over potential supply disruptions and transportation risks, contributing to significant volatility in global oil and natural gas prices. In particular, the restriction or cessation of maritime traffic through the Strait of Hormuz has significantly depressed the global supply of oil and natural gas, resulting in increased volatility and overall elevated prices, as well as causing overall disruptions in global commodities markets. While the ultimate impact and magnitude of these disruptions is currently unknown, a prolonged interruption to the global commodities markets has the potential to materially adversely affect our business and operations and those of our suppliers and customers. Further, in late April 2026, the United Arab Emirates ( UAE ) announced that it was withdrawing from OPEC, and as a result, would no longer be subject to OPEC imposed production controls. While no other countries have yet followed the UAE in leaving OPEC, increased oil and gas production from the UAE, along with any other country that may leave OPEC, could increase global oil and gas supply, resulting in lower oil and gas prices.

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We implemented certain initiatives in 2025, which have continued into 2026, to optimize our operations and improve future returns. These actions were concentrated in our U.S. land-focused service operations and included: the consolidation, relocation and exit of certain operating locations; the exit of certain service offerings; the exit of previously closed facilities; and reductions in our U.S. workforce. We also assessed the carrying value of certain long-lived and other assets based on the industry outlook regarding overall demand for and pricing of our products and services, market competitiveness and management decisions. As a result of these events, actions and assessments, our reported pre-tax results for the first six nine months of 2026 included $4.1 $6.3 million of costs associated primarily with facility exits as well as $1.4 million in non-cash asset impairment charges.

On January 28, 2026, we entered into an amended and restated cash-flow based credit agreement (the Cash Flow Credit Agreement ) providing for original aggregate lender commitments of up to: $75.0 million under a revolving credit facility (the Revolving Credit Facility ) and $50.0 million under a multi-draw term loan facility, which was available for a six-month period (the Term Loan Facility ). The Cash Flow Credit Agreement replaced our existing asset-based credit agreement (the ABL Agreement ). Subsequent to June 30, In July 2026, the Company repaid we borrowed $20.0 million of outstanding borrowings under the Revolving Credit Facility with borrowings under the Term Loan Facility, and the remaining lender commitments under the Term Loan Facility lapsed. on July 28, 2026. See Note 4, Long-Term Debt, to the Unaudited Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for further information regarding the Cash Flow Credit Agreement.

Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for further information regarding the Cash Flow Credit Agreement.

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During the first nine months of 2026, we purchased 1,053,670 shares of our common stock at a total cost of $9.1 million under a Board of Director authorized stock repurchase program, which expired October 24, 2026. On October 29, 2026, our Board of Directors authorized a new $50 million common stock repurchase program, which expires in October 2028.

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Crude oil and natural gas prices and levels of demand for crude oil and natural gas are likely to remain highly volatile due to numerous factors, including, but not limited to: geopolitical conflicts in the Middle East Europe and South America, Europe, along with associated international tensions; the moderate perceived risk of a global economic recession; the levels of domestic or international crude oil and natural gas production; technological advancements; consolidation of oil and gas producers; changes in governmental rules and regulations; sanctions; tariffs; the willingness of operators to invest capital in the exploration for and development of resources; use of alternative fuels; improved vehicle fuel efficiency; timing of capital investments in alternative energy sources; a more sustained movement to electric vehicles; and the potential for ongoing supply/demand imbalances.

Our Offshore Manufactured Products segment provides technology-driven, highly-engineered products and services for offshore oil and natural gas drilling, completion and production systems and facilities globally, as well as certain products and services to the military and industrial markets. This segment is particularly influenced by global spending on deepwater drilling and production, which is primarily driven by our customers longer-term commodity demand forecasts and outlook for crude oil and natural gas prices. Approximately 91% 90% of our Offshore Manufactured Products segment s sales in the first six nine months of 2026 were driven by our customers capital spending for products and services used in exploratory and developmental drilling, greenfield offshore production infrastructure, and subsea pipeline tie-in and repair system applications, along with upgraded equipment for existing offshore drilling rigs and other vessels (referred to herein as project-driven products and services ). Deepwater oil and gas development projects typically involve significant capital investments and multi-year development plans. Such projects are generally undertaken by larger exploration, field development and production companies (primarily international oil companies and state-run national oil companies) using relatively conservative crude oil and natural gas pricing assumptions. Given the long lead times associated with field development, we believe some of these deepwater projects, once approved for development, are generally less susceptible to change based on short-term fluctuations in the price of crude oil and natural gas. Deepwater oil and gas development projects may also be impacted by federal legislative and regulatory actions, including the OBBBA, which mandates that the Bureau of Ocean Energy Management conduct at least two offshore lease sales annually, of a minimum of 80 million acres (if available), in the Central and Western Gulf of America Planning Areas for the next 15 years. Additionally, we are investing in research and product development (and have been awarded select contracts and are bidding on additional projects) to facilitate the development of alternative energy sources, including offshore wind and deep-sea mineral gathering opportunities.

Backlog reported by our Offshore Manufactured Products segment increased to $451 $482 million as of June September 30, 2026 from $435 million as of December 31, 2025. Bookings totaled $114 $135 million in the second third quarter of 2026, yielding a quarterly book-to-bill ratio of 1.3x (1.2x (1.1x year-to-date). The following table sets forth backlog as of the dates indicated (in millions).

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Three Months Ended June 30, Six Months Ended June 30,

As of October 23, 2026

Three Months Ended September 30, Nine Months Ended September 30,

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Land Oil 436 406 451 400 460

Land Natural gas and other 136 133 105 134 105

Offshore 15 15 15 17 14

Land Oil 447 438 403 413 441

Land Natural gas and other 142 138 121 136 110

Offshore 14 13 16 15 15

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June 30, Six Months Ended

The following summarizes our consolidated results of operations for the three and six nine months ended June September 30, 2026 and 2025 (in thousands, except per share amounts):

September 30, Nine Months Ended

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Products $ 98,753 $ 107,342 $ (8,589) $ 191,333 $ 207,893 $ (16,560)

Services 57,906 58,064 (158) 110,689 117,451 (6,762)

Product costs 77,724 83,936 (6,212) 152,091 164,265 (12,174)

Service costs 40,227 41,404 (1,177) 77,449 83,752 (6,303)

Products $ 109,845 $ 106,492 $ 3,353 $ 301,178 $ 314,385 $ (13,207)

Services 59,919 58,688 1,231 170,608 176,139 (5,531)

Product costs 88,639 85,561 3,078 240,730 249,826 (9,096)

Service costs 41,435 43,085 (1,650) 118,884 126,837 (7,953)

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Depreciation and amortization expense 8,061 11,898 (3,837) 16,250 23,923 (7,673)

Other operating income, net (4,192) (1,448) (2,744) (4,293) (4,381) 88

Operating income 11,712 5,277 6,435 15,990 10,916 5,074

Interest expense, net (508) (1,692) 1,184 (1,683) (3,270) 1,587

Other income (expense), net (3,281) 636 (3,917) (3,133) 774 (3,907)

Income before income taxes 7,923 4,221 3,702 11,174 8,420 2,754

Income tax provision (2,013) (1,410) (603) (4,156) (2,451) (1,705)

Net income $ 5,910 $ 2,811 $ 3,099 $ 7,018 $ 5,969 $ 1,049

Depreciation and amortization expense 8,046 12,128 (4,082) 24,296 36,051 (11,755)

Impairments of operating lease assets 1,358 (1,358) 1,358 (1,358)

Impairment Impairments of assets held for sale 1,384 1,384

Other operating income, net 1,315 (1,098) 2,413 (2,978) (5,479) 2,501

Operating income 6,335 4,748 1,587 22,325 15,664 6,661

Interest expense, net (1,308) (1,773) 465 (2,991) (5,043) 2,052

Other income (expense), net 226 362 (136) (2,907) 1,136 (4,043)

Income before income taxes 5,253 3,337 1,916 16,427 11,757 4,670

Income tax provision (2,137) (1,437) (700) (6,293) (3,888) (2,405)

Net income $ 3,116 $ 1,900 $ 1,216 $ 10,134 $ 7,869 $ 2,265

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June 30, Six Months Ended

We manage and measure our business performance in three operating segments: Offshore Manufactured Products, Completion and Production Services and Downhole Technologies. Supplemental financial information by operating segment for the three and six nine months ended June September 30, 2026 and 2025 is summarized below (in thousands):

September 30, Nine Months Ended

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Products $ 51,954 $ 68,653 $ (16,699) $ 103,841 $ 127,777 $ (23,936)

Services 32,420 27,907 4,513 63,130 52,331 10,799

Military and other products 8,350 10,026 (1,676) 17,172 19,074 (1,902)

Completion and Production Services 24,274 29,424 (5,150) 45,772 63,943 (18,171)

Downhole Technologies 39,661 29,396 10,265 72,107 62,219 9,888

Products $ 57,725 $ 67,729 $ (10,004) $ 161,566 $ 195,506 $ (33,940)

Services 34,594 30,172 4,422 97,724 82,503 15,221

Military and other products 12,065 10,726 1,339 29,237 29,800 (563)

Completion and Production Services 23,159 27,525 (4,366) 68,931 91,468 (22,537)

Downhole Technologies 42,221 29,028 13,193 114,328 91,247 23,081

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Offshore Manufactured Products $ 13,936 $ 16,989 $ (3,053) $ 28,348 $ 31,265 $ (2,917)

Offshore Manufactured Products (1)

Completion and Production Services (1) (2)

Downhole Technologies (2) (3)

(1) During the three and six nine months ended June September 30, 2025, we recognized charges of $2.2 $0.6 million and $3.1 $0.8 million, respectively, within the Completion and Production Services Offshore Manufactured Products segment, associated primarily with the exit consolidation and relocation of certain manufacturing and service locations.

(2) During the three and six nine months ended June September 30, 2025, we recognized charges of $1.2 $2.7 million and $5.8 million, respectively, within the Downhole Technologies Completion and Production Services segment, associated primarily with the exit of a leased facility. service locations.

(3) During the nine months ended September 30, 2025, we recognized charges of $1.2 million within the Downhole Technologies segment, associated primarily with the exit of a leased facility.

(3) (4) During the three and six nine months ended June September 30, 2026, we recognized: facility exit and other charges of $1.4 $2.2 million and $3.9 $6.1 million, respectively, primarily associated with assets held for sale; a $4.1 and $3.3 million gain associated with the sale of a previously idled facility; and $1.7 $5.0 million, respectively, of executive transition costs associated with the pending retirement of our former President and Chief Executive Officer. Additionally, during the six nine months ended June September 30, 2026, we recognized a non-cash impairment charge of $1.4 million associated with assets held for sale and a $4.1 million gain associated with the sale of a previously idled facility. During the three and nine months ended September 30, 2025, we recognized severance charges of $0.3 million within Corporate operations

For further discussion of charges and credits recognized during the three and six nine months ended June September 30, 2026 and 2025, see Note 2, Charges and Credits, to the Unaudited Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

Three Months Ended June September 30, 2026 Compared to Three Months Ended June September 30, 2025

We reported net income for the three months ended June September 30, 2026 of $5.9 $3.1 million, or $0.10 $0.05 per share. The reported second third quarter net income included net charges of $2.5 $5.5 million ($2.5 ($5.4 million after tax, or $0.04 $0.09 per share) associated primarily with debt extinguishment, executive transition and the continued exit of U.S. land-based facilities. partially offset by a gain on facility disposal. These results compare to net income for the three months ended June September 30, 2025 of $2.8 $1.9 million, or $0.05 $0.03 per share, which included net charges of $3.3 $3.6 million ($2.6 ($2.8 million after tax, or $0.04 $0.05 per share) associated primarily with the exit of U.S. land-based facilities and personnel reductions. partially offset by gains associated with debt extinguishment.

Our results of operations for the second third quarter of 2026 reflect the impact of management s decisions to exit certain land-based locations and service offerings in the United States, a transitory decrease delays in capital investments by our offshore and international customers, and disruptions resulting from the military conflict in Iran and management s decisions to exit certain land-based locations and service offerings in the United States.

Revenues. . Consolidated total revenues in the second third quarter of 2026 decreased $8.7 increased $4.6 million, or 5%, 3%, from the second third quarter of 2025 due primarily to higher customer demand for perforating and completion products partially offset by lower project-driven product sales and our exit of underperforming service offerings and facilities over the past 15 months. and lower project-driven product sales. Excluding the impact of exited operations, consolidated revenues decreased $2.5 increased $6.9 million, or 2%, 4%, year-over-year.

Consolidated product revenues in the second third quarter of 2026 decreased $8.6 increased $3.4 million, or 8%, 3%, from the second third quarter of 2025, with the impact of lower project-driven product sales partially offset by higher customer demand for completion and perforating and completion products substantially offset by lower project-driven product sales. Consolidated service revenues in the second third quarter of 2026 were comparable to increased $1.2 million, or 2%, from the second third quarter of 2025, with higher project-driven service activity substantially offset by the impact of our exit of certain underperforming U.S. land-based service offerings and lower customer activity in the Middle East.

The following table provides supplemental disaggregated revenue from contracts with customers by operating segment for the three months ended June September 30, 2026 and 2025 (in thousands):

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Products $ 51,954 $ 68,653 $ $ $ $ $ 51,954 $ 68,653

Services 32,420 27,907 32,420 27,907

Total project-driven 84,374 96,560 84,374 96,560

Military and other products 8,350 10,026 8,350 10,026

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Market risk 3 changes

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Interest Rate Risk. We have a revolving credit facility and a term loan facility that are subject to the risk of higher interest charges associated with increases in interest rates. As of June September 30, 2026, we had $18.6 $19.8 million in floating-rate obligations outstanding under our Cash Flow Credit Agreement. The use of floating-rate obligations would expose exposes us to the risk of increased interest expense in the event of increases in short-term interest rates. If the floating interest rates increased by 1% from June September 30, 2026 levels, our consolidated interest expense would increase by a total of approximately $0.2 million annually.

Foreign Currency Exchange Rate Risk. Our operations are conducted in various countries around the world and we receive revenue from these operations in a number of different currencies. As such, our earnings are subject to movements in foreign currency exchange rates when transactions are denominated in (i) currencies other than the U.S. dollar, which is our functional currency, or (ii) the functional currency of our subsidiaries, which is not necessarily the U.S. dollar. In order to mitigate the effects of foreign currency exchange rate risks in areas outside of the United States (primarily in our Offshore Manufactured Products segment), we generally pay a portion of our expenses in local currencies and a substantial portion of our contracts provide for collections from customers in U.S. dollars. During the first six nine months of 2026, our reported foreign currency exchange gains were $0.3 $0.4 million and are included in other operating (income) expense, net in the consolidated statements of operations.

Accumulated other comprehensive loss, reported as a component of stockholders equity, primarily relates to fluctuations in currency exchange rates against the U.S. dollar as used to translate certain of the international operations of our operating segments. Our accumulated other comprehensive loss increased $0.5 $1.1 million from $66.3 million as of December 31, 2025 to $66.8 $67.4 million as of June September 30, 2026, due to changes in currency exchange rates. During the first six nine months of 2026, the exchange rate for the British pound weakened by 2% compared to the U.S. dollar, while the Brazilian real strengthened by 6% 5% compared to the U.S. dollar.

Controls and procedures 2 changes

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As of the end of the period covered by this Quarterly Report on Form 10-Q, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)) of the Exchange Act. Our disclosure controls and procedures are designed to provide reasonable assurance that the information required to be disclosed by us in reports that we file under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure and is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of June September 30, 2026 at the reasonable assurance level.

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There have been no changes in our internal control over financial reporting (as that term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three months ended June September 30, 2026, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Unregistered sales of stock 8 changes

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April 1 through April 30, 2026 $ $ 24,697,602

May 1 through May 31, 2026 511,245 8.83 511,245 20,182,723

June 1 through June 30, 2026 72,296 8.10 72,296 19,597,354

Total 583,541 $ 8.74 583,541

July 1 through July 31, 2026 $ $ 19,597,354

August 1 through August 31, 2026 240,043 8.49 240,043 17,559,115

September 1 through September 30, 2026 230,086 8.55 230,086 15,592,643 (1) Average price paid per share excludes the impact of excise taxes.

(2) In October 2024, our Board of Directors authorized $50.0 million for repurchases of our common stock, par value $0.01 per share, through October 24, 2026. As of June September 30, 2026, $30.4 $34.4 million of share repurchases have been made under this authorization. On October 29, 2026, our Board of Directors authorized a new $50.0 million common stock repurchase program, which expires in October 2028.

Other information 1 change

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During the three months ended June September 30, 2026, no director or executive officer adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as each is defined in Item 408 of Regulation S-K) related to securities of our company.

Exhibits 5 changes

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Employment Transition Agreement and General Release of Claims between Oil States International, Inc. and Cindy B. Taylor effective May 1, 2026 (incorporated by reference to Exhibit 10.3 to the Company s Quarterly Report on Form 10-Q for the three months ended March 31, 2026, as filed with the SEC on May 5, 2026 (File No. 001-16337)).

Form of Non-Employee Director Deferred Stock Grant Notice and Agreement under the Company s Second Amended and Restated Equity Participation Plan.

Form of Non-Employee Director Restricted Stock Agreement under the Company s Second Amended and Restated Equity Participation Plan.

Amendment to Executive Agreement between Oil States International, Inc. and Matthew E. Autenrieth Lloyd A. Hajdik, effective July 9, 2026 (incorporated by reference to Exhibit 10.5 10.1 to the Company s Quarterly Current Report on Form 10-Q for the three months ended March 31, 2026, 8-K, as filed with the SEC on May 5, July 13, 2026 (File No. 16337)). 001-16337)).

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Date: July October 30, 2026 By: /s/ Matthew E. Autenrieth

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