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BlackBerry Provides Update on Progress in Separation of Divisions and Path to Profitability

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Significant steps taken towards positive cashflow

Company is targeting $100 million of annualized net profit improvements, through a combination of cost reductions and margin expansion. This is in addition to $50 million of annualized cost saving actions disclosed in prior quarterActions to achieve approximately $55 million of the $100 million annualized target have been identified and are being implemented in the current quarterCompany continues to expect sequential improvements to operating cash flow usage in the current quarter and to be operating cash flow positive in the fourth quarter of the upcoming fiscal year (FY25)Significant progress made in establishing standalone divisions, including establishment of divisional leadership teams and engagement of leading external consulting firm with separation work now underwayAs previously disclosed, BlackBerry completed a $200M convertible debenture debt raise that both reduced company debt by 45% when compared to November 2023, and provides significant, long-term liquidity and stability for the CompanyBlackBerry reiterates total Company revenue outlook of $150$159 million and for Cybersecurity ARR to stabilize sequentially in the current quarterManagement to hold investor briefing call at 8am ET on Tuesday, February 13, 2024

WATERLOO, Ontario, Feb. 12, 2024 /PRNewswire/ — BlackBerry Limited (NYSE: BB; TSX: BB) today provided an update on the previously announced process to separate its IoT and Cybersecurity businesses as standalone divisions, and drive the Company towards profitability and positive cash flow.

Progress on Path to Profitability

As previously outlined, in the prior quarter BlackBerry took actions that, once fully realized, will reduce the annual cost run rate by approximately $50 million. These actions were largely focused on the Cybersecurity business and included approximately 200 headcount reductions.

During the current quarter, BlackBerry is taking further actions to streamline its cost structure. Within the Cybersecurity business, additional headcount reductions are expected to generate annualized savings of approximately $27 million and non-headcount actions an incremental $8 million. Efficiencies have been identified in all functions, but in particular within cost of goods sold and research and development. Backed by solid, industry-typical levels of R&D investment, the Cybersecurity business is executing on its exciting product roadmap in a focused and efficient manner.

Within G&A functions, actions are being taken during the current quarter to realize annualized run rate savings of approximately $20 million. As part of these savings, BlackBerry has exited 6 of its 36 global office locations, including San Ramon, California, which are expected to realize annualized savings of approximately $7 million. Other reductions in force are expected to realize annualized savings of approximately $13 million.

Costs associated with these actions in the current quarter are expected to total approximately $12 million.

Expected return to Positive Cashflow

In the current fiscal year, operating cash usage in Q2 was $56 million and improved significantly to $31 million in Q3. As previously outlined, BlackBerry expects a further sequential reduction in operating cash usage for the current, fourth quarter.

Given the cost-reduction actions taken, as outlined above, and anticipated further operating efficiencies during FY25, BlackBerry expects to maintain a positive net cash position throughout the coming fiscal year, despite the first fiscal quarter being a seasonal low for cash, and to be operating cashflow positive by Q4 FY25. 

Progress with Separation

BlackBerry has made material progress towards establishing both the IoT and Cybersecurity business units as fully standalone divisions. The Company has established a Project Management Office, and appointed leading management consultants, Alvarez & Marsal, to assist with the process. 

Divisional Chief Financial Officers, Chief People Officers and General Counsel for both the IoT and Cybersecurity businesses have been appointed and are in the process of establishing divisional back-office teams that will complement the already-standalone Sales, Marketing and R&D functions for each business.

Solid Balance Sheet

As previously disclosed, BlackBerry secured long-term financing last month through the issuance of convertible senior notes in the aggregate principal amount of $200 million. The Board was pleased by the significant level of interest in the offering and the Company will use the net proceeds primarily to repay $150 million of short-term debentures due on February 15, 2024. Following this repayment, BlackBerry will have reduced its debt by 45% compared to November 2023 and, with the planned return to positive operating cash flow, expects to be well-positioned with a solid balance sheet.

“I’d like to thank the BlackBerry team for the significant progress made towards separating our core businesses and achieving profitability and positive cash flow. The steps taken have required difficult decisions, and I appreciate the thoughtful, rigorous approach that has been adopted,” said John J. Giamatteo, Chief Executive Officer, BlackBerry. “The Company is fully focused and working with urgency towards our goals. We’re directing our resources where we believe we can maximize returns and continue to delight our customers. Our balance sheet is solid following the refinancing and we believe BlackBerry is well-positioned to execute on our strategy.”

Investor Briefing Call

An investor briefing conference call and live webcast will be held tomorrow, Tuesday February 13, 2024, beginning at 8:00 a.m. ET, which can be accessed using the following link (here) or through the Company’s investor webpage (BlackBerry.com/Investors) or by dialing toll free +1 (844) 512-2926 and entering Elite Entry Number 6312676. Slides used during the presentation will be available for download through the Company’s investor webpage.

A replay of the conference call will be available at approximately 12:00 p.m. ET on February 13, 2024, using the same webcast link (here) or by dialing Canada toll free +1 (855) 669-9658 or US toll free +1 (877) 344-7529 and entering Replay Access Code 3593353.

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company’s software powers over 235M vehicles. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy, and is a leader in the areas of endpoint security management, encryption, and embedded systems. BlackBerry’s vision is clear – to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.
For more information, visit BlackBerry.com and follow @BlackBerry.

Investor Contact:
BlackBerry Investor Relations
+1 (519) 888-7465
investorrelations@blackberry.com

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@blackBerry.com

Forward-looking Statements:

This news release contains forward-looking statements within the meaning of certain securities laws, including under the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding BlackBerry’s plans, strategies and objectives including its expectations with respect to increasing and enhancing its product and service offerings.

The words “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “could”, “intend”, “believe”, “target”, “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances, including but not limited to, BlackBerry’s expectations regarding its business, strategy, opportunities and prospects, the launch of new products and services, general economic conditions, competition, and BlackBerry’s expectations regarding its financial performance. Many factors could cause BlackBerry’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks related to the following factors: BlackBerry’s proposed business unit separation and cost-reduction activities, including risk that they may disrupt BlackBerry’s operations or adversely impact its relationships with business partners and customers and its ability to attract and retain key employees, and risk that BlackBerry may not be able to complete the separation and cost-reduction activities successfully and in a timely manner, or at all.

These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry’s Annual Report on Form 10-K and the “Cautionary Note Regarding Forward-Looking Statements” section of BlackBerry’s MD&A (copies of which filings may be obtained at www.sedarplus.ca or www.sec.gov). All of these factors should be considered carefully, and readers should not place undue reliance on BlackBerry’s forward-looking statements. Any statements that are forward-looking statements are intended to enable BlackBerry’s shareholders to view the anticipated performance and prospects of BlackBerry from management’s perspective at the time such statements are made, and they are subject to the risks that are inherent in all forward-looking statements, as described above, as well as difficulties in forecasting BlackBerry’s financial results and performance for future periods, particularly over longer periods, given changes in technology and BlackBerry’s business strategy, evolving industry standards, intense competition and short product life cycles that characterize the industries in which BlackBerry operates. Any forward-looking statements are made only as of today and the company has no intention and undertakes no obligation to update or revise any of them, except as required by law.

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SOURCE BlackBerry Limited

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AGIBOT Unveils Four New Products at WAIC 2026, Showcasing Embodied AI in Real-World Operations

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More than 30 AGIBOT robots are operating across WAIC venues, while industrial deployments and live demonstrations highlight the company’s progress in turning robotic capabilities into repeatable real-world workflows

SHANGHAI, July 20, 2026 /PRNewswire/ — AGIBOT, a global leader in embodied AI and robotics, today unveiled four new products at the World Artificial Intelligence Conference 2026 in Shanghai: the AGIBOT A3 Ultra, X2 Edu, G2 Max, OmniHand 3 Ultra-M. Together, the new products expand AGIBOT’s portfolio across full-size humanoid platforms, heavy-payload industrial task robots and direct-drive dexterous manipulation systems.

At its 200-square-meter exhibition space at Booth H3-C101 in the Shanghai World Expo Exhibition and Convention Center, AGIBOT is presenting the three new products alongside its manipulation foundation models, industrial deployment cases and live robot demonstrations. Beyond the booth, more than 30 AGIBOT robots are operating across WAIC venues, providing visitor guidance, information services, demonstrations and other forms of on-site support.

“The industry should no longer judge embodied AI by whether a robot can complete an impressive demonstration once, but by whether it can be manufactured, delivered and integrated reliably into real operating environments,” said Peng Zhihui, Co-founder, President and CTO of AGIBOT. “AGIBOT A3 Ultra, G2 Max and OmniHand 3 Ultra-M address three essential layers of that challenge: the humanoid platform, industrial task execution and dexterous manipulation. Together with our recent production and factory-deployment milestones, these launches reflect our focus on building robots that can deliver consistent and practical value at scale.”

Three New Products Designed for Real-World Work
The AGIBOT A3 Ultra is a full-size humanoid robot developed for long-duration operation in public-facing, commercial and service environments. Standing 1.74 meters tall and weighing 60 kilograms, it features 51 active degrees of freedom, a five-kilogram payload capacity per arm and up to eight hours of combined operating time. Its perception system includes 3D LiDAR, RGB-D cameras, fisheye cameras and binocular vision, while GPS, RTK and UWB positioning support navigation and coordinated operation across different environments. Powered by NVIDIA Thor for high-level embodied AI processing, A3 Ultra supports direct charging, battery replacement and autonomous charging, allowing it to remain available for extended service workflows rather than isolated appearances.

The AGIBOT X2 EDU is a humanoid robotics development platform designed for education, competitions and scientific research. Standing approximately 1.3 meters tall, it features 29 degrees of freedom across the body, including seven degrees of freedom in each arm, and supports an end-effector payload of up to three kilograms. Its fully modular architecture allows the robot to be disassembled and reconfigured throughout the hardware chain, while open motion-control and hardware interfaces provide access for secondary development. Developers can flexibly integrate end effectors, sensors and additional computing modules according to different teaching and research requirements.

The AGIBOT G2 Max is the company’s first heavy-payload, force-controlled embodied task robot, developed for material handling, palletizing and other industrial operations. G2 Max combines higher load capacity with force-controlled arms, adjustable working height and omnidirectional wheeled mobility. It is designed to operate alongside existing production equipment and factory systems, undertaking repetitive physical tasks that require both strength and controlled interaction. Its energy system supports battery replacement and autonomous charging to reduce operational interruptions in continuous production environments.

The OmniHand 3 Ultra-M is a flagship direct-drive dexterous hand designed for embodied AI training, teleoperation, demonstration capture and contact-rich manipulation. It integrates 20 active degrees of freedom into a human-scale form factor weighing 630 grams. The hand supports a whole-hand gripping load of up to 5 kilograms, with a typical opening or closing time of 0.3 seconds and repeatability of ±0.2 millimeters. Vision-based tactile sensors at the fingertips and a tactile array in the palm enable the hand to detect changes in contact, force and object position, while its fully direct-drive architecture supports responsive force regulation during complex manipulation tasks.

Industrial Deployments Demonstrate Continuous Task Execution
AGIBOT is also presenting industrial deployments developed with Longcheer Technology, PIA Automation and other partners. The applications cover tasks including tablet quality-inspection loading and unloading, chip handling, production-line material movement and other repetitive industrial processes.

At Longcheer Technology’s Nanchang manufacturing facility, AGIBOT G2 robots have been integrated into a live tablet mass-production quality-inspection line. The robots complete a closed-loop workflow covering material collection, precision placement, equipment interfacing and finished-product return. Production-line integration was completed within 36 hours, and the deployment has supported approximately 3,000 units per shift and more than 64 hours of cumulative continuous operation, with downtime loss kept below 4%.

These cases differ from one-off motion demonstrations because the robots must maintain production rhythms, repeat tasks consistently, respond to changes in object position and surrounding conditions, and coordinate with upstream and downstream equipment. The deployments show how embodied AI systems can become part of existing production processes without requiring manufacturers to rebuild an entire line around the robot.

AGIBOT is also presenting applications in cultural tourism, transportation and commercial services, including projects developed with Sichuan Cultural Tourism and Guangzhou Railway. In these environments, robots support guided tours, route guidance, visitor interaction, information services and on-site assistance, moving from general-purpose showcase roles toward defined service workflows.

Live Demonstrations Connect Technical Capabilities with Practical Tasks
At Booth H3-C101, AGIBOT is presenting a series of live demonstrations spanning dynamic motion, human-robot collaboration and multi-step commercial service tasks.

In the table tennis demonstration, the robot uses real-time visual perception, trajectory prediction and closed-loop motion control to respond to a fast-moving ball in a dynamic environment. The boxing demonstration highlights teleoperation, whole-body coordination and low-latency motion response, showing how a robot can translate an operator’s movements into coordinated physical actions.

A beverage-service demonstration presents an end-to-end commercial workflow. The robot identifies and picks up cups, operates beverage-making equipment and delivers the finished drink to a visitor. Rather than demonstrating an isolated grasping action, the workflow combines perception, navigation, manipulation and task sequencing to show how a robot can complete a connected series of service tasks.

During WAIC 2026, AGIBOT has deployed more than 30 robots across key public areas of the Shanghai World Expo Exhibition and Convention Center and the West Bund venue. The robots are supporting visitor guidance, information services, live demonstrations and other on-site interactions throughout the event.

The deployment moves the robots beyond scheduled appearances at AGIBOT’s booth and places them within the conference’s wider service environment. Operating in busy public spaces requires the robots to navigate around visitors, respond to changing conditions and maintain consistent performance over extended periods, providing a practical test of their mobility, interaction and operational reliability.

Manipulation Foundation Models and the Embodied AI Forum
A dedicated Manipulation Intelligence Zone at the AGIBOT booth is presenting the company’s manipulation foundation models, dexterous systems and task-development technologies. The exhibition shows how perception, reasoning, action planning and physical control are connected to support task execution in complex environments.

On July 19, AGIBOT will host the WAIC 2026 Embodied AI Forum at the Golden Hall of the Shanghai World Expo Center. The forum will bring together researchers, technology leaders and robotics entrepreneurs from China and overseas to discuss the development of Physical AI, advances in embodied intelligence and the technical and operational requirements for scaling robots from research systems into real-world applications.

Through its new products, venue-wide robot deployment, industrial cases and live demonstrations, AGIBOT is presenting a connected path from foundation models and robotic hardware to systems that can carry out defined tasks in factories, commercial environments and public spaces.

For more information, please visit AGIBOT.com and follow AGIBOT on:
X: https://x.com/AGIBOTofficial
LinkedIn: https://www.linkedin.com/company/agibot/
YouTube: https://www.youtube.com/@AGIBOTofficia
Instagram: https://www.instagram.com/agibotofficial/
TikTok: https://www.tiktok.com/@agibotofficial
Facebook: https://www.facebook.com/AGIBOTofficial/

About AGIBOT
AGIBOT is an Embodied AI foundation model company developing both the intelligence layer and the corresponding robotic embodiments needed to bring general intelligence into the physical world. AGIBOT’s “Three Intelligences in One” architecture integrates Locomotion Intelligence, Interaction Intelligence, and Manipulation Intelligence into a unified embodied system. Its portfolio spans humanoid robots, quadrupeds, dexterous systems, and commercial cleaning solutions. In June 2026, AGIBOT announced that its 15,000th robot had rolled off the production line.

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SOURCE AgiBot Innovation (Shanghai) Technology Co.,Ltd.

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Advancing innovation through emerging technologies: PolyU launches free course on advanced technologies

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HONG KONG, July 20, 2026 /PRNewswire/ — The Hong Kong Polytechnic University (PolyU) continues to promote interdisciplinary learning and knowledge transfer with the launch of the third course under the Advanced Education Programme offered by the PolyU Academy for Interdisciplinary Research (PAIR).

Commencing in September 2026, the new course, “Advanced Technologies”, will run for 12 weeks and cover six areas of applied science and technology: photonics, quantum technologies, intelligent wearable systems, artificial intelligence of things, advanced manufacturing, and textiles for future fashion. Designed and delivered by PolyU experts, together with guest speakers from relevant industries, the course aims to broaden participants’ understanding of emerging technologies and their applications in driving innovation, industrial transformation and societal advancement.

The course will introduce the latest developments in optical fibre communications and smart sensing, quantum technology, wearable intelligence and multisensory technologies, neuromorphic intelligence and AI-driven semiconductor research and development, smart manufacturing and lightweight structural components in Industry 4.0, as well as smart and sustainable fashion and textiles. Through these topics, participants will gain insights into pressing global challenges, PolyU-led innovations that address them, and technological opportunities emerging across related fields.

The course is open, free of charge, to eligible members of the public, and no prior background in the relevant disciplines is required. It will be offered in dual mode, with both in-person and online options, enabling participation by learners in Hong Kong and overseas. Participants who meet the attendance requirements may apply for a certificate of completion with minimal administration fees.

Enrolment closes on 31 August 2026. Places for in-person attendance are limited, while online places will be allocated on a first-come, first-served basis.

For details and registration, please visit:
https://www.polyu.edu.hk/pair/education/

CONTACT:
Anna Lee
Mobile: +852-91501890
Email: annaswlee@gmail.com

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SOURCE The Hong Kong Polytechnic University (PolyU)

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Lovense Brings In-Store Experience Series to 18 Hustler Hollywood Locations Nationwide

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Connected intimacy brand continues experiential retail rollout across the U.S.

SINGAPORE, July 19, 2026 /PRNewswire/ — Lovense, a leader in app-connected intimacy technology, is expanding its nationwide in-store experience series with Hustler Hollywood, bringing guided product demonstrations and hands-on consumer education to specialty retail locations across the United States. Following a successful launch in Charlotte, North Carolina earlier this month, the initiative will continue with 17 additional stores throughout July.

Branded “Get Turned on: Explore Love Tech,” the series reflects Lovense’s continued investment in experiential retail, offering consumers guided product discovery in a hands-on retail environment. Each event features dedicated display areas, in-store education sessions, and on-site specialists who walk visitors through the Lovense app and product ecosystem.

“You can read about remote control or app-synced patterns, but until you’ve felt it respond in real time, it stays abstract,” said Dan Liu, CEO of Lovense. “These events give people that moment — the first time the device moves with the app, you see them get it. That’s where curiosity turns into confidence.”

“We are thrilled to be partnering with Lovense on in-store event programming,” said Jen May, VP of Marketing at Hustler Hollywood. “This series provides HUSTLER Hollywood customers with edutainment and extra value during their visit. Having Lovense product experts connecting with our store teams and customers has helped deepen brand awareness and knowledge of the product line.”

Early consumer engagement has highlighted strong interest in products including Flexer, Velvo, and Ferri, with visitors responding positively to the opportunity to interact with the products and learn more about their features before purchasing.

The Hustler Hollywood partnership supports Lovense’s broader retail strategy of making connected intimacy technology more accessible through product education and in-store experiences. With 18 events across 18 U.S. cities this summer, the program marks the beginning of a broader rollout — with plans to bring the experience to additional markets and regions.

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SOURCE Lovense

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