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Enghouse Releases Second Quarter Results

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MARKHAM, ON, June 9, 2026 /CNW/ – Enghouse Systems Limited (TSX: ENGH) announces second quarter (unaudited) financial results for the period ended April 30, 2026. All figures are denominated in Canadian dollars unless otherwise indicated.

Second Quarter Financial Highlights:

Revenue was $114.3 million as compared to $124.8 million in Q2 2025 and for the six-month period was $234.4 million compared to $248.8 million last year;Recurring revenue, which includes SaaS and maintenance services, was $79.2 million compared to $86.2 million in Q2 2025, and represents 69.3% of total revenue. For the six-month period, recurring revenue was $163.7 million compared to $174.1 million in the prior period, and represents 69.9% of total revenue;Results from operating activities was $23.6 million compared to $25.1 million in Q2 2025 and decreased for the six-month period to $51.9 million from $56.1 million in the comparable period;Net income increased to $16.3 million compared to $13.5 million in Q2 2025. For the six-month period, net income was $33.8 million compared to $35.4 million in the prior period;Adjusted EBITDA was $26.5 million compared to $28.6 million in Q2 2025, while achieving a 23.2% margin. For the six-month period, Adjusted EBITDA was $57.6 million compared to $61.7 million in the prior year;Net cash provided by operating activities, excluding changes in working capital and income taxes paid, increased to $28.7 million compared to $25.5 million in Q2 2025 and was $60.1 million for the six-month period compared to $63.3 million last year. Cash, cash equivalents and short-term investments were $269.7 million as at April 30, 2026.

The second quarter reflected ongoing turbulence in global markets, where shifting geopolitical conditions, trade dynamics, and rapid technological change continued to drive uncertainty and dramatic responses. Through this environment, the Company remained patient and disciplined, scaling its operations to current market conditions, maintaining profitability and strong cash reserves, while investing in innovation and long-term growth initiatives.

The Asset Management Group reported stable revenue trends, though influenced by the timing of one-time transactions, while the Interactive Management Group experienced churn, including that expected from prior acquisitions as well as from customers migrating toward SaaS-based offerings.

During the quarter, profitability remained a key focus, with continued efforts to calibrate costs to prevailing revenue. Operating efficiencies and disciplined expense management contributed to a 13.5% improvement in operating expenses relative to the same period in the prior year. These actions supported continued positive earnings results and are expected to yield further benefits as they fully annualize, reinforcing the Company’s ability to maintain profitability in a dynamic operating environment. The Company reported net income of $16.3 million in the quarter compared to $13.5 million in the prior year.

Enghouse closed the quarter with $269.7 million in cash, cash equivalents, and short-term investments, and no external debt. This robust financial capacity provides flexibility to invest in further operational efficiencies, accretive acquisitions and product innovation, including AI-driven enhancements. Given its diversified business model, significant recurring revenue base, and strong liquidity, the Company is well positioned to navigate ongoing uncertainty while continuing to deliver sustainable, long-term shareholder value through its disciplined capital allocation strategy.

Quarterly dividends:
Today, the Board of Directors approved an eligible quarterly dividend of $0.31 per common share, payable on August 28, 2026, to shareholders of record at the close of business on August 14, 2026.

Enghouse Systems Limited
Financial Highlights
(unaudited, in thousands of Canadian dollars)

For the periods ended April 30

Three months

Six months

2026

2025

Var ($)

Var (%)

2026

2025

Var ($)

Var (%)

Revenue

$

114,277

$

124,819

(10,542)

(8.4)

$

234,375

$

248,819

(14,444)

(5.8)

Direct costs

44,178

45,985

(1,807)

(3.9)

88,805

90,448

(1,643)

(1.8)

Revenue, net of direct costs

$

70,099

$

78,834

(8,735)

(11.1)

$

145,570

$

158,371

(12,801)

(8.1)

As a % of revenue

61.3 %

63.2 %

62.1 %

63.6 %

Operating expenses

45,443

52,345

(6,902)

(13.2)

91,833

100,802

(8,969)

(8.9)

Special charges

1,027

1,401

(374)

(26.7)

1,837

1,492

345

23.1

Results from operating activities

$

23,629

$

25,088

(1,459)

(5.8)

$

51,900

$

56,077

(4,177)

(7.4)

As a % of revenue

20.7 %

20.1 %

22.1 %

22.5 %

Amortization of acquired software and       customer relationships

(6,186)

(7,296)

1,110

15.2

(12,807)

(15,775)

2,968

18.8

Foreign exchange gains (losses)

1,280

(3,962)

5,242

132.3

236

(1,653)

1,889

114.3

Interest expense – lease obligations

(105)

(131)

26

19.8

(233)

(259)

26

10.0

Finance income

1,611

1,913

(302)

(15.8)

3,159

4,217

(1,058)

(25.1)

Finance expenses

(1)

(24)

23

95.8

(75)

(27)

(48)

(177.8)

Other income

(4)

1,201

(1,205)

(100.3)

1,455

1,500

(45)

(3.0)

Income before income taxes

$

20,224

$

16,789

3,435

20.5

$

43,635

$

44,080

(445)

(1.0)

Provision for income taxes

3,936

3,328

608

18.3

9,847

8,715

1,132

13.0

Net Income for the period

$

16,288

$

13,461

2,827

21.0

$

33,788

$

35,365

(1,577)

(4.5)

Basic earnings per share

0.30

0.24

0.06

25.0

0.62

0.64

(0.02)

(3.1)

Diluted earnings per share

0.30

0.24

0.06

25.0

0.62

0.64

(0.02)

(3.1)

Net cash provided by operating activities

31,562

36,671

(5,109)

(13.9)

52,353

57,920

(5,567)

(9.6)

Net cash provided by operating activities excluding changes in working capital and income taxes paid

28,689

25,543

3,146

12.3

60,096

63,284

(3,188)

(5.0)

Adjusted EBITDA

Results from operating activities

23,629

25,088

(1,459)

(5.8)

51,900

56,077

(4,177)

(7.4)

Depreciation

593

647

(54)

8.3

1,207

1,300

(93)

7.2

Depreciation of right-of-use assets

1,219

1,430

(211)

14.8

2,670

2,808

(138)

4.9

Special charges

1,027

1,401

(374)

26.7

1,837

1,492

345

(23.1)

Adjusted EBITDA

$

26,468

$

28,566

(2,098)

(7.3)

$

57,614

$

61,677

(4,063)

(6.6)

Adjusted EBITDA margin

23.2 %

22.9 %

24.6 %

24.8 %

Adjusted EBITDA per diluted share

$

0.49

$

0.52

(0.03)

(5.8)

$

1.06

$

1.12

(0.06)

(5.4)

Enghouse Systems Limited

 

Condensed Consolidated Interim Statements of Financial Position

(in thousands of Canadian dollars)

(unaudited)

   As at April 30, 2026

As at October 31, 2025

ASSETS

Current assets:

   Cash and cash equivalents

$

269,700

$

269,061

   Short-term investments

27

25

   Accounts receivable

81,016

88,980

   Prepaid expenses and other assets

15,320

17,001

366,063

375,067

Non-current assets:

   Property and equipment

3,802

3,890

   Right-of-use assets

9,359

11,453

   Intangible assets

80,077

89,710

   Goodwill

338,014

341,593

   Deferred income tax assets

35,182

35,105

466,434

481,751

$

832,497

$

856,818

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

   Accounts payable and accrued liabilities

$

63,063

$

76,167

   Income taxes payable

6,955

10,662

   Dividends payable

16,855

16,426

   Provisions

1,668

2,013

   Deferred revenue

114,250

108,268

   Lease obligations

3,932

5,197

206,723

218,733

Non-current liabilities:

   Deferred income tax liabilities

13,763

13,439

   Deferred revenue

7,982

6,791

   Net employee defined-benefit obligation

2,438

2,442

   Lease obligations

5,078

5,944

29,261

28,616

235,984

247,349

Shareholders’ equity:

   Share capital

116,076

116,894

   Contributed surplus

12,057

11,110

   Retained earnings

437,428

443,134

   Accumulated other comprehensive income

30,952

38,331

596,513

609,469

$

832,497

$

856,818

Enghouse Systems Limited

Condensed Consolidated Interim Statements of Operations and Comprehensive Income

(in thousands of Canadian dollars, except per share amounts)

(unaudited)                                            

Three months

Six months

Periods ended April 30

2026

2025

2026

2025

Revenue

     Software licenses

$  15,059

$  16,885

$  31,918

$  34,666

     SaaS and maintenance services

79,171

86,189

163,724

174,121

     Professional services

16,419

17,625

32,515

33,733

     Hardware

3,628

4,120

6,218

6,299

114,277

124,819

234,375

248,819

Direct costs

     Software licenses

461

703

1,107

1,439

     Services

42,012

43,431

84,671

85,928

     Hardware

1,705

1,851

3,027

3,081

44,178

45,985

88,805

90,448

Revenue, net of direct costs

70,099

78,834

145,570

158,371

Operating expenses

     Selling, general and administrative

20,991

24,980

43,386

48,616

     Research and development

22,640

25,288

44,570

48,078

     Depreciation

593

647

1,207

1,300

     Depreciation of right-of-use assets

1,219

1,430

2,670

2,808

     Special charges

1,027

1,401

1,837

1,492

46,470

53,746

93,670

102,294

Results from operating activities

23,629

25,088

51,900

56,077

Amortization of acquired software and customer relationships   

(6,186)

(7,296)

(12,807)

(15,775)

Foreign exchange gains (losses)

1,280

(3,962)

236

(1,653)

Interest expense – lease obligations

(105)

(131)

(233)

(259)

Finance income

1,611

1,913

3,159

4,217

Finance expenses

(1)

(24)

(75)

(27)

Other (expenses) income

(4)

1,201

1,455

1,500

Income before income taxes

20,224

16,789

43,635

44,080

Provision for income taxes

3,936

3,328

9,847

8,715

Net income for the period

16,288

13,461

33,788

35,365

Item that may be subsequently reclassified to income:

Cumulative translation adjustment

(1,086)

(3,183)

(7,379)

6,388

Other comprehensive (loss) income

(1,086)

(3,183)

(7,379)

6,388

Comprehensive income

$  15,202

$    10,278

$  26,409

$  41,753

Earnings per share

Basic

$      0.30

$      0.24

$      0.62

$      0.64

Diluted

$      0.30

$      0.24

$      0.62

$      0.64

 

Enghouse Systems Limited

Condensed Consolidated Interim Statements of Cash Flows

(in thousands of Canadian dollars)

(unaudited)

Three months

Six months

Periods ended April 30

2026

2025

2026

2025

OPERATING ACTIVITIES

Net income for the period

$    16,288

$    13,461

$    33,788

$    35,365

Adjustments for non-cash items

   Depreciation

593

647

1,207

1,300

   Depreciation of right-of-use assets

1,219

1,430

2,670

2,808

   Interest expense – lease obligations

105

131

233

259

   Amortization of acquired software and customer relationships

6,186

7,296

12,807

15,775

   Stock-based compensation expense

357

427

924

535

   Provision for income taxes

3,936

3,328

9,847

8,715

   Finance expenses and other (income) expenses

5

(1,177)

(1,380)

(1,473)

28,689

25,543

60,096

63,284

Changes in non-cash operating working capital

11,250

16,261

7,339

4,370

Income taxes paid

(8,377)

(5,133)

(15,082)

(9,734)

Net cash provided by operating activities

31,562

36,671

52,353

57,920

INVESTING ACTIVITIES

Purchase of property and equipment, net

(300)

(403)

(1,124)

(807)

Acquisitions, net of cash acquired*

–

(26,813)

(5,524)

(33,399)

Payment of purchase consideration for prior-year acquisitions

(1,489)

–

(1,489)

–

Proceeds from sale of intangible asset

–

–

701

–

Net cash used in investing activities

(1,789)

(27,216)

(7,436)

(34,206)

FINANCING ACTIVITIES

Normal course issuer bid share repurchases

(2,033)

–

(7,084)

(5,950)

Repayment of lease obligations

(1,275)

(1,835)

(2,864)

(3,209)

Dividends paid

(16,350)

(14,340)

(32,776)

(28,737)

Net cash used in financing activities

(19,658)

(16,175)

(42,724)

(37,896)

Impact of foreign exchange on cash and cash equivalents

(605)

(299)

(1,554)

3,227

Increase (decrease) in cash and cash equivalents

9,510

(7,019)

639

(10,955)

Cash and cash equivalents – beginning of period

260,190

270,304

269,061

274,240

Cash and cash equivalents – end of period

$  269,700

$  263,285

$  269,700

$  263,285

 

*Acquisitions are net of cash acquired of $Nil and $83 for the three and six months ended April 30, 2026, respectively, and $6,667 and $9,287 for the three and six months ended April 30, 2025, respectively.

Enghouse Systems Limited
Segment Reporting Information
(in thousands of Canadian dollars)
(unaudited)

Three months ended April 30

2026

2025

IMG

AMG

Total

IMG

AMG

Total

Revenue

$

62,839

$

51,438

$

114,277

$

74,118

$

50,701

$

124,819

Direct costs

(22,511)

(21,667)

(44,178)

(25,811)

(20,174)

(45,985)

Revenue, net of direct costs

40,328

29,771

70,099

48,307

30,527

78,834

Operating expenses excluding special charges

(20,827)

(13,626)

(34,453)

(24,001)

(14,957)

(38,958)

Depreciation

(314)

(279)

(593)

(393)

(254)

(647)

Depreciation of right-of-use assets

(701)

(518)

(1,219)

(927)

(503)

(1,430)

Segment profit

$

18,486

$

15,348

$

33,834

$

22,986

$

14,813

$

37,799

Special charges

(1,027)

(1,401)

Corporate and shared service expenses

(9,178)

(11,310)

Results from operating activities

$

23,629

$

25,088

Six months ended April 30

2026

2025

IMG

AMG

Total

IMG

AMG

Total

Revenue

$

130,136

$

104,239

$

234,375

$

147,339

$

101,480

$

248,819

Direct costs

(45,309)

(43,496)

(88,805)

(51,524)

(38,924)

(90,448)

Revenue, net of direct costs

84,827

60,743

145,570

95,815

62,556

158,371

Operating expenses excluding special charges

(42,338)

(26,321)

(68,659)

(46,603)

(26,935)

(73,538)

Depreciation

(640)

(567)

(1,207)

(795)

(505)

(1,300)

Depreciation of right-of-use assets

(1,627)

(1,043)

(2,670)

(1,836)

(972)

(2,808)

Segment profit

$

40,222

$

32,812

$

73,034

$

46,581

$

34,144

$

80,725

Special charges

(1,837)

(1,492)

Corporate and shared service expenses

(19,297)

(23,156)

Results from operating activities

$

51,900

$

56,077

About Enghouse

Enghouse Systems Limited is a Canadian publicly traded company (TSX: ENGH) that provides mission-critical vertically focused enterprise software solutions. Our core technologies are used for contact centers, video communications, virtual healthcare, education, telecommunications networks, IPTV, public safety and transit. The Company’s two-pronged strategy to grow earnings focuses on both organic growth and acquisitions, which, to date, have been funded through net cash provided by operating activities as the Company has no external debt financing. The Company is organized around two business segments, the Interactive Management Group (“IMG”) and the Asset Management Group (“AMG”) due to their unique customer segments and technology offerings. Further information about Enghouse may be obtained from the Company’s website at www.enghouse.com. 

Conference Call and Webcast

A conference call to discuss the results will be held on Wednesday, June 10, 2026 at 8:45 a.m. EST. To participate, please call
+1-289-514-5100 or North American Toll-Free +1-800-717-1738. Confirmation code: 04682. A webcast is also available at: https://www.enghouse.com/investors.php.

****

The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis

other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EBITDA per diluted share as measures of operating performance. Therefore, these collective Adjusted EBITDA measures may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is calculated based on results from operating activities adjusted for depreciation of property and equipment and right-of-use assets and special charges for acquisition related restructuring costs. Management uses Adjusted EBITDA to evaluate operating performance as it excludes amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, foreign exchange gains and losses, other income and restructuring costs.

SOURCE Enghouse Systems Limited

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Technology

OceanaGold Reports Voting Results from its 2026 Annual Meeting of Shareholders

Published

18 minutes ago

on

June 9, 2026

By

VANCOUVER, BC, June 9, 2026 /PRNewswire/ – OceanaGold Corporation (TSX: OGC) (NYSE: OGC) (“OceanaGold” or the “Company”) is pleased to report the voting results from the Annual General and Special Meeting of Shareholders of the Company (the “AGM”) held today.

A total of 184,072,822 common shares of the Company were represented in person or by proxy at the AGM, representing 82.06% of common shares outstanding as at the record date. Shareholders voted in favour of each of the items of business at the AGM.

Election of Directors

Each of the director nominees listed in OceanaGold’s Management Information Circular dated April 23, 2026 was elected as a director of the Company to hold office for the ensuing year or until their successors are elected or appointed. Detailed results of the vote for each director are set out in the table below:

Directors

Votes For

%

Votes Withheld

%

Paul Benson

132,452,772

77.70

38,003,874

22.30

Ian M. Reid

169,552,116

99.47

904,530

0.53

Craig J. Nelsen

169,280,303

99.31

1,176,343

0.69

Sandra M. Dodds

167,057,565

98.01

3,399,081

1.99

Alan N. Pangbourne

170,267,931

99.89

188,715

0.11

Linda M. Broughton

170,153,528

99.82

303,118

0.18

Stefanie E. Loader

169,432,122

99.40

1,024,524

0.60

Gerard M. Bond

170,272,112

99.89

184,534

0.11

Appointment of Auditor

PricewaterhouseCoopers LLP was appointed as the auditor of the Company to hold office until the close of the next annual meeting of shareholders or until its successor is appointed, at a remuneration to be fixed by the directors of the Company.

Votes For

%

Votes Withheld

%

180,933,130

98.29

3,139,692

1.71

Advisory Vote on the Approach to Executive Compensation

A non-binding resolution on the Company’s approach to executive compensation was approved.

Votes For

%

Votes Against

%

165,775,649

97.25

4,680,997

2.75

Virtual-Only Annual General Meetings

A resolution to hold the Company’s 2027 annual general meeting of shareholders in a virtual-only format was approved.

Votes For

%

Votes Against

%

106,379,295

62.41

64,077,351

37.59

About OceanaGold

OceanaGold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines.

View original content to download multimedia:https://www.prnewswire.com/news-releases/oceanagold-reports-voting-results-from-its-2026-annual-meeting-of-shareholders-302795835.html

SOURCE OceanaGold Corporation

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AI Engines Trust Hermès, Rolex, Chanel and Ferrari Most — 5W and Haute Living Release The AI Luxury 25

Published

18 minutes ago

on

June 9, 2026

By

First ranking of the twenty-five luxury houses defining the AI era, scored by citation share across ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews.

MIAMI, June 9, 2026 /PRNewswire/ — 5W, the AI Communications Firm, and Haute Living, today released The AI Luxury 25, the first ranking of the world’s leading luxury houses by how clearly the AI engines describe them. Twenty-five houses, five engines, five equal dimensions, one composite score. Hermès leads at 98.6. Rolex, Patek Philippe, Chanel, and Ferrari complete the top tier.

More than a third of luxury buyers now begin product research with AI, not Google. The first impression a buyer forms is the answer an engine returns when asked about a house — and certain houses surface, cleanly and consistently, while others blur. The AI Luxury 25 measures that gap and ranks the houses most deeply embedded in AI-generated answers.

The study scores each house on archival depth, citation density, entity clarity, editorial consistency, and retrieval stability. Hermès posts the cleanest entity profile in consumer commerce. Rolex records the only perfect entity-clarity score in the index. Aman, founded in 1988, is the modern house rising fastest — proof that retrieval authority can be built on purpose, not just inherited.

“In the AI era, the answer is the first impression,” said Ronn Torossian, Founder and Chairman of 5W AI Communications. “The houses at the top of this index earned it the only way it can be earned — a century of saying the same thing, consistently, until the machine learned it cold. That consistency is the modern form of brand equity. Everyone else now has to build it on purpose.”

“For two centuries the great houses competed for the cover, the window, the front row,” said Kamal Hotchandani, Founder and CEO of Haute Living. “The new front row is the answer a machine returns when a buyer asks. Hermès and Rolex didn’t set out to win it — they earned it with a century of discipline. This index measures who owns that answer.”

The full study, ranked tables, and methodology are available at https://www.5wpr.com/ai-visibility-index/ai-luxury-25-2026/

About Haute Living

Haute Living is the luxury lifestyle media brand covering the people, places, and brands defining the global luxury economy. Learn more at hauteliving.com.

About 5W AI Communications

5W is the AI Communications Firm, building brand authority across the platforms where decisions now happen — ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — alongside earned media, digital, and influencer channels. 5W combines public relations, digital marketing, Generative Engine Optimization (GEO), and proprietary AI visibility research, helping clients measure and grow their presence in AI-driven buyer research.

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Hut 8 Closes $4.25 Billion of Investment-Grade Senior Secured Notes for Beacon Point Data Center Project

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18 minutes ago

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June 9, 2026

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Hut 8’s second investment-grade data center construction bond — fully amortizing, non-recourse, and non-dilutive — rated Baa2 and priced 20 basis points inside the River Bend notes issuance spread

Substantially oversubscribed, broadening Hut 8’s institutional credit investor base and bringing cumulative project-level, investment-grade data center construction financing to $7.5 billion

MIAMI, June 9, 2026 /PRNewswire/ — Hut 8 Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the closing of a $4.25 billion offering (the “Offering”) of 6.129% senior secured notes due 2042 (the “Notes”) issued by its wholly-owned subsidiary, Beacon Point DC LLC (the “Issuer”). The Notes are rated Baa2 by Moody’s Ratings, one notch above the BBB− assigned by S&P Global Ratings and Fitch Ratings to Hut 8’s River Bend financing in April 2026.

The Issuer intends to use the proceeds from the Offering to (i) finance (1) the development and construction of a turnkey data center, comprising six data halls with a combined total of 352 megawatts of critical IT capacity, to be built on an approximately 521-acre property in Nueces County, Texas and (2) the construction of the substation located on the property, which data center facility will be leased to a tenant that is a high-investment-grade company (i.e., rated AA− or higher) as of the date hereof pursuant to the data center lease agreement, (ii) fund debt service reserves, and (iii) pay fees and expenses in connection with the Offering.

Offering Highlights

Demonstrates the repeatability of an investment-grade financing model that preserves balance-sheet strength: The Offering marks the second execution of a financing model that is non-recourse to Hut 8, fully funded at the project level, and non-dilutive to existing shareholders, with no expected equity issuance by Hut 8 to fund the project. The fully amortizing structure eliminates refinancing risk at the project level, while its non-recourse profile allows Hut 8 to maintain zero recourse debt at the parent level, leaving its balance sheet unconstrained.Reflects disciplined, first-principles execution marked by improved rating, pricing, and scale: The Offering improves upon the first execution of the model at River Bend across rating and spread. At T+165 basis points, the Notes priced 20 basis points inside the River Bend notes issuance spread. These terms establish the Offering as the largest, tightest-priced, and highest-rated investment-grade bond issued to date in a single-sponsor data center construction financing. Across successive executions, this progression supports Hut 8’s pursuit of a corporate investment-grade profile.Confirms broadening institutional endorsement of Hut 8’s development financing model: Investor demand validates Hut 8’s model of financing investment-grade, construction-stage development. The Offering was substantially oversubscribed and attracted both repeat investors and new investors who did not participate in the River Bend offering, broadening Hut 8’s institutional credit investor base. Together, River Bend and Beacon Point represent $7.5 billion of investment-grade capital raised for construction-stage data center development, a credit standard rarely achieved prior to commercial operations.

Asher Genoot, CEO of Hut 8, said: “The investment-grade market has historically not been available to finance project-level data center construction. Together with our River Bend offering, this Offering establishes the ability of our data center projects to access investment-grade financing markets and demonstrates a repeatable model for funding construction-stage development. We believe this structure, which eliminates refinancing risk and protects shareholder value, can support a durable competitive advantage as we continue to scale.”

Sean Glennan, CFO of Hut 8, said: “The hallmark of this financing model is repeatability. What enables us to deliver superior outcomes over time, however, is rigor of execution. Each term of the Offering was structured from first principles rather than inherited from the prior offering. Beacon Point improves on River Bend across key financing metrics, including rating and spread. We intend to bring that same discipline to future transactions.”

J.P. Morgan acted as lead bookrunner for the Offering. Goldman Sachs & Co. LLC acted as a bookrunner for the Offering.

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

Cautionary Note Regarding Forward-Looking Information

This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the anticipated use of proceeds from the Offering, the development and construction of the Beacon Point project, the expected benefits and repeatability of the Company’s financing model, the Company’s pursuit of a corporate investment-grade profile, the Company’s development pipeline, and the Company’s future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “allow,” “believe,” “estimate,” “expect,” “predict,” “can, “might,” “potential,” “is designed to,” “likely,” or similar expressions.

Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca. Information in this press release is as of the dates and time periods indicated herein, and neither the Company nor the Issuer undertake to update any of the information contained in these materials, except as required by law.

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SOURCE Hut 8 Corp.

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