AIIR

DUBAI, United Arab Emirates, Aug. 26, 2026 (GLOBE NEWSWIRE) -- AIR Global PLC (“AIR” or the “Company”) (NASDAQ: AIIR), a global leader in advanced flavored inhalation technologies and pioneer of next-generation nicotine delivery systems, today announced the results of an Extraordinary General Meeting ("EGM") of shareholders held at 2:00 p.m. London time on August 24, 2026, at Sovereign Gate, 18-20 Kew Rd, Richmond upon Thames TW9 2NA, London, United Kingdom. All of the proposals submitted to shareholders at the EGM were approved. Shareholders approved the repurchase by the Company of 5,000,000 ordinary shares beneficially owned by Harraden Circle Investors, LP and related Harraden entities, at a price of US$10.49 per share, representing an aggregate purchase price of US$52.45 million. Shareholders also approved the related share repurchase contract in connection with the prepaid share forward agreement entered into on May 11, 2026. Shareholders further granted the Company general authorities to repurchase ordinary shares in the future through both off-market transactions, including issuer tender offers or privately negotiated transactions, and open market purchases on a securities exchange. These authorities are intended to provide the Board with flexibility to manage the Company’s capital structure efficiently, subject to applicable law, market rules, liquidity requirements and the directors’ fiduciary duties.  Other than the Harraden repurchase, the Company has no other share repurchases currently planned. In addition, shareholders approved amendments to the Company’s articles of association to permit notices of general meetings to be given by drawing shareholders’ attention to a notice published on the Company’s website, subject to applicable legal and stock exchange requirements. Details of the votes received, and how the votes were cast, for each resolution are set out below. Total issued share capital: 160,386,602 shares About AIR Founded in 1999 and headquartered in Dubai, AIR is a global consumer brands and innovation company with a presence in more than 90 markets worldwide. Its portfolio reaches millions of adult consumers across social inhalation and modern nicotine categories through brands including Al Fakher (flavored shisha molasses), Crown Switch (closed system pod vaping platform), Crown Gems, and Al Fakher nicotine pouches. AIR's strategy combines category-leading brands, scientific research, and in-house innovation capabilities. Strategic investments such as Greentank and royalty-generating intellectual property partnerships such as Crown Bar enhance its participation in fast-growing nicotine and inhalation categories. The company develops next-generation technologies and products, including OOKA. By connecting brands, technology, science, and commercial partnerships, AIR is building a differentiated platform positioned to shape the future of adult consumer experiences. Forward‑Looking Statements This press release contains “forward‑looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “contemplate,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “seek,” “should,” “target,” “will,” or, in each case, their negative or other variations or comparable terminology. Such forward‑looking statements are based on available current market material and management’s expectations, beliefs and forecasts concerning future events impacting the Company. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward‑looking statements, including, among others: statements regarding the announced annual general meeting; the Company’s ability to execute its product development and commercialization strategy; and other risks described in the Company’s filings with the SEC, including the Company’s Registration Statement on Form F-4, as amended, and subsequent furnished or filed reports. Nothing in this press release should be regarded as a representation by the Company that the forward‑looking statements will be achieved. Forward‑looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward‑looking statements, whether as a result of new information, future events, or otherwise, except as required by law. No Offer or Solicitation This press release is for informational purposes only and does not constitute (and shall not be construed as) an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Contacts AIR Investor Relations:Gaurav Jain: [email protected]; +971-56-439-4296Anuja Shendye: [email protected]; [email protected] AIR Media Relations:ICR for AIRFor more information, email inquiries to [email protected]

Download the Complete Report Here Key Takeaways: Best-in-class execution enabled AIIR to grow through a severe supply-chain disruption while protecting the underlying earnings base. Revenue rose 3.7% y/y to $206.9 million in 1H26 from $199.5 million, gross profit increased 2.4% to $116.8 million from $114.0 million, and adjusted EBITDA was stable at $71.7 million despite FSM shipment volumes declining 9.0%. Global Travel Retail volumes fell 46.5%, while FSM shipments excluding GTR declined 6.6%, reflecting the closure of the Strait of Hormuz, which historically carried approximately 70% of shipment volumes. The disruption was most acute in March, when shipment volumes declined 38.6%, before returning to growth in June. Importantly, customer purchase orders remained intact and wholesaler inventories declined, confirming that the shortfall reflected shipment availability rather than weaker end demand. Revenue growth and stable adjusted EBITDA through the disruption underscore the strength and resilience of a category-leading franchise with an estimated 36%-44% volume share across its operating markets. Strong pricing power more than offset shipment pressure, supported by the category’s relatively low consumer spend. FSM revenue increased 3.4% y/y to $204.7 million despite the 9.0% shipment decline, reflecting 14.0% price/mix growth as AIIR front-loaded 2026 pricing to offset higher logistics and raw-material costs and prioritized supply to higher-ASP markets. The ability to deliver double-digit price/mix without meaningful share erosion underscores the strength of the franchise, particularly given annual U.S. shisha spend of around $110 versus more than $2,000 for cigarettes, close to $1,000 for pod-based vapes and around $400 for nicotine pouches. This relatively low spend provides room to offset cost inflation through pricing without materially affecting affordability. The 14.0% 1H contribution should moderate in 2H as comparisons toughen and mix shifts toward lower-ASP markets, while AIIR expects approximately 4%-6%+ price/mix in a normal year, supported by category leadership, innovation and premiumization. Supply-chain redesign is turning the 1H disruption into a longer-term resilience investment. AIIR is using the event to structurally de-risk its supply chain rather than simply restore the prior logistics model. Following the Hormuz closure, the company established alternative outbound routes through Oman and Saudi Arabia and diversified inbound raw-material sourcing, reducing reliance on a corridor that historically carried ~70% of shipments. AIIR incurred $3.8 million of extraordinary disruption costs in 1H26, primarily from air freight and temporarily elevated ingredient procurement, while additional land and sea rerouting costs and logistics inflation remained within adjusted operating earnings. Manufacturing diversification is also accelerating, with the Romania facility expected to be commissioned by year-end 2026 and operational in 2027 alongside UAE and Poland production. The near-term cost burden is weighing on 2026 profitability, but the redesigned network should meaningfully reduce the risk that future regional disruptions translate into another sharp interruption in shipments. Geographic diversification helped contain the disruption, with strength in the Americas and MEAA offsetting continued pressure in Europe. Reported earnings were impacted by Nasdaq listing-related charges, while underlying operating profitability remained substantially more stable. Reported EBITDA was a loss of $52.1 million versus positive $61.0 million in 1H25, while net loss was $81.8 million versus $32.0 million of profit and EPS was $(0.57) versus $0.22. The gap to $71.7 million of adjusted EBITDA was driven primarily by $48.2 million related to equity issued at listing, $47.7 million of listing-related cash expenses and $12.4 million of share-based compensation, with smaller adjustments for public-company readiness, supply-chain disruption and accelerated PMTA spending. Listing-associated costs totaled approximately $103 million and account for most of the 1H impact, while share-based compensation will continue through remaining vesting periods and some incremental public-company costs will remain in the ongoing expense base. PMTA spending is expected to step down materially in 2027, helping narrow the gap between reported and underlying earnings over time. NGC is beginning to build an additive growth layer alongside the resilient core. Revenue increased 37.5% y/y to $2.2 million from $1.6 million, supported by OOKA and the European Crown Switch rollout, while adjusted EBITDA loss improved to $7.9 million from $9.3 million. At only ~1% of consolidated revenue, NGC remains immaterial to current group revenue, although the $7.9 million adjusted EBITDA loss remains a drag on group profitability. Importantly, management sees effectively no cannibalization from NGCs, with Al Fakher U.S. shipment volumes remaining resilient from 2018-25 even as vape volumes increased ~3x and nicotine pouch volumes ~40x. This gives AIIR a differentiated growth setup versus traditional tobacco companies, as Crown Switch, OOKA and other NGC platforms can add revenue without needing to offset structural decline in the core business. OOKA remains a longer-duration premiumization lever within the existing shisha occasion, with management expecting gradual adoption through the medium term and launch-market economics indicating ~20x revenue and ~15x gross profit per kilogram versus traditional molasses. First-half cash conversion was held back by working capital, primarily due to shipment timing and a sharp receivables build. Cash used in operating activities was $0.1 million in 1H26 versus $9.0 million generated in 1H25 despite $71.7 million of adjusted EBITDA, as trade and other receivables absorbed $58.8 million of cash, inventories used $3.8 million and higher trade and other payables contributed $9.1 million. Current receivables increased to $127.8 million from $93.2 million at 2025-end, while inventories rose only $6.3 million to $61.6 million from $55.3 million and trade and other payables increased to $127.0 million from $99.1 million. Management expects working capital to normalize as shipment cadence improves in 2H, which should support a meaningful recovery in cash conversion after the disruption-heavy first half. For context, 2025 operating cash flow of $115.9 million represented approximately 83% of adjusted EBITDA. Balance-sheet flexibility remains intact despite sizable listing-related and strategic cash outflows. Cash declined to $85.4 million at June 30 from $119.5 million at 2025-end, while total borrowings stood at $430.2 million and net debt at $344.8 million, equivalent to 2.48x LTM adjusted EBITDA. First-half outflows included $28.9 million related to reorganization transactions, $13.4 million of interest paid, approximately $5.3 million of combined property, plant and intangible investment and $5.0 million of acquisition payments. Management expects year-end leverage to remain broadly stable versus 2025 after absorbing listing costs and the Greentank investment, before deleveraging resumes over the medium term. The capital-light model is increasingly creating optionality for shareholder returns as near-term cash demands normalize. 2026 capex is expected at $15-$18 million and the effective tax rate at approximately 15%, while no buybacks are currently included in 2026 or medium-term guidance. Management has also identified ordinary dividends and special dividends as potential future distribution mechanisms and explicitly indicated that it does not intend to accumulate excess capital indefinitely. With leverage already at approximately 2.5x and normalized cash conversion historically strong, capital allocation should increasingly balance continued deleveraging, selective NGC investment and potential shareholder returns. 2H26 should mark a shift back toward volume-led growth as supply normalization, channel replenishment and geographic mix replace exceptional 1H pricing as the primary drivers. 2026 FSM shipment volumes are expected to be broadly stable y/y despite an approximately 1.5% GTR headwind, requiring a meaningful rebound after the 9.0% 1H decline. In contrast, price/mix should moderate materially from the 14.0% achieved in 1H as prior-year comparisons become tougher and shipments normalize into lower-ASP markets. The earnings setup therefore shifts from pricing-led resilience in 1H toward volume recovery in 2H, supported by intact purchase orders, depleted channel inventory and improved shipment availability. Management guides to 4%-6% 2026 revenue growth and low-to-mid-single-digit adjusted EBITDA growth. Based on the midpoint of the revenue range and 4% EBITDA growth within that outlook, 2026 revenue can be estimated at approximately $419.7 million and adjusted EBITDA at $144.9 million. This implies 2H revenue of approximately $212.8 million, +6% y/y, and adjusted EBITDA of approximately $73.1 million, +8%. EBITDA growth remains below AIIR’s historical high-single-digit trajectory due to incremental public-company costs, factory-footprint reorganization and elevated logistics/raw-material expenses, partly offset by U.S. tariff refunds and excise-duty drawbacks; management also indicated that some macro conservatism is embedded in the topline outlook. Net financing costs are expected to remain broadly stable in 2026. Disclaimer: Exec Edge does not publish proprietary estimates, ratings, price targets, or investment recommendations. The valuation discussion below is illustrative only and is based on company filings, management commentary, and third-party data and estimates. It does not constitute a recommendation, price target, rating, or prediction of future pricing. The valuation thesis remains anchored in the resilience and cash-generation potential of the core FSM franchise, with additional upside from normalization and NGC optionality. AIIR continues to demonstrate strong pricing power, leading market shares and resilient end demand, while the 1H26 disruption appears to have delayed shipments rather than impaired the underlying franchise. With volumes recovering, temporary supply-chain and listing-related costs expected to ease, and medium-term growth supported by share gains, premiumization and new-market expansion, the earnings profile should normalize without requiring a meaningful contribution from NGCs. Crown Switch and other NGC initiatives, continued deleveraging and potential shareholder returns therefore represent incremental sources of value creation rather than assumptions required to support the core valuation case. AIIR now trades materially below the SPAC transaction valuation, providing a more attractive entry point as earnings normalize. As of the 8/21 close, AIIR has a market capitalization of approximately $1.24 billion and enterprise value of approximately $1.56 billion, well below the $1.75 billion transaction EV. Based on management-guidance-derived 2026 revenue of $419.7 million and adjusted EBITDA of $144.9 million, increasing to $440.7 million and $156.5 million, respectively, in 2027, AIIR trades at approximately 3.7x 2026E EV/Sales and 10.8x EV/EBITDA, declining to 3.5x and 10.0x in 2027E. The forward earnings progression requires only modest margin expansion, with adjusted EBITDA margin increasing from approximately 34.5% in 2026E to 35.5% in 2027E. The discount to tobacco and nicotine peers appears meaningful relative to AIIR’s forward growth profile. On 2026E figures, AIIR trades at approximately 3.0x P/S and 10.8x EV/EBITDA versus peer averages of 4.0x and 12.5x, respectively. On 2027E, the multiples decline to approximately 2.8x and 10.0x versus peer averages of 3.8x and 11.4x. This implies an approximately 14% discount to peers on forward EV/EBITDA, despite AIIR’s expected ~5% revenue growth and ~8% adjusted EBITDA growth in 2027 comparing favorably with peer-average growth of approximately 4% and 5%. Some discount is warranted given AIIR’s lower 2026E adjusted EBITDA margin of 34.5% versus the 40.9% peer average, but the current valuation does not appear to fully reflect the combination of core earnings resilience, improving growth and NGC optionality. Value creation should increasingly be driven by execution against visible operating and strategic catalysts. Near-term catalysts include successful 2H shipment recovery following the 9.0% 1H decline, normalization of working capital and cash conversion, continued U.S. and Saudi share gains, and improving European profitability as shipment timing normalizes. Beyond 2026, continued deleveraging and potential shareholder returns should strengthen the equity story, while Crown Switch PMTA acceptance and subsequent U.S. commercialization would provide incremental upside not assumed in the 2027E figures derived from management’s FSM growth framework. Delivery against these milestones should support a narrowing of the current discount to peers and the prior transaction valuation, while weaker shipment recovery, persistent cash absorption or higher NGC investment without commercial traction would justify a continued discount. Read Exec Edge’s Initiation on AIR Global PLC Here Download the Complete Report Here Subscribe to our Weekly Newsletter to Receive All Research Contact: Executives-Edge.com [email protected] The post AIR Global’s Best-in-Class 1H Performance Amid Disruptions, 2H Recovery – Quarterly Update Report appeared first on ExecEdge.

Interested in AIR Global? Here are five stocks we like better. AIR Global’s first-half revenue rose 3.7% to $206.9 million, while adjusted EBITDA was broadly stable at $71.7 million despite supply-chain disruption from the Straits of Hormuz closure. Reported EBITDA and net income were sharply negative because of substantial IPO, listing, public-company and other one-time costs. The company maintained its 2026 outlook for 4%–6% revenue growth and low- to mid-single-digit adjusted EBITDA growth, with shipment volumes expected to remain stable. AIR Global is diversifying shipping routes and plans to commission a Romania factory by the end of 2026 to reduce regional concentration risk. AIR Global invested $20 million in Greentank to support its vape strategy, including the Crown Switch product and a planned U.S. PMTA filing. New nicotine categories remain early-stage, while flavored shisha molasses continues to be the company’s core business. AIR Global (NASDAQ:AIIR) reported first-half 2026 revenue growth despite supply-chain disruption tied to the closure of the Straits of Hormuz, while adjusted EBITDA remained broadly stable. The company, which listed on Nasdaq in May, said it has established alternative shipping routes and is reorganizing its manufacturing footprint to reduce dependence on the region. Revenue for the six months ended June 30 rose 3.7% to $206.9 million from $199.5 million a year earlier. Gross profit increased 2.4% to $116.8 million. Adjusted EBITDA was $71.7 million, essentially unchanged from the prior-year period. → Datavault AI Locks Down CyberCatch in $94M Security Rollup Reported results were substantially affected by listing-related and other items. AIR Global recorded EBITDA of negative $52.1 million, compared with positive EBITDA of $61 million in the first half of 2025. The company reported an operating loss of $63.6 million and a net loss of $81.8 million, or negative $0.57 per basic share. CFO Bassem Lotfy said the gap between reported EBITDA and adjusted EBITDA reflected primarily non-recurring, non-cash and public-company-related expenses. These included $48.2 million related to equity issued at the listing event, $47.7 million of IPO-related cash costs, $7.4 million of public-company readiness costs and $12.4 million in share-based compensation expense. → Michael Burry Is Betting Against Palantir Again—Should Investors Care? The company also identified $3.8 million of extraordinary regional-disruption costs, including air freight and temporarily elevated ingredient costs, as well as $2 million of regulatory costs associated with accelerated U.S. PMTA filings for nicotine vape and pouch products. “Underlying trading was resilient, while reported results were materially affected by one-time listing related and other non-recurring items,” Lotfy said. → Home Depot Analysts See a Path to $375 and Beyond First-half flavored shisha molasses, or FSM, shipment volumes declined 9%, including a 46.5% decrease in global travel retail volumes. Excluding global travel retail, FSM shipment volumes declined 6.6%. However, AIR Global said volume growth resumed in June after disruption was concentrated in March and April. Price and mix rose 14% as the company accelerated pricing actions to offset inflation and supply-chain pressures. The Americas segment generated revenue of $42.8 million, up 3.4%, while adjusted EBITDA increased 17.2% to $19.8 million. The company cited price and mix gains, cost control and stable U.S. market conditions. AIR Global expects full-year U.S. revenue growth to accelerate to high single digits, supported by share gains and innovation. Revenue in the Middle East, Africa and Asia segment rose 4% to $136.7 million, driven by high-teens price and mix growth. Adjusted EBITDA in the segment declined 4% to $59.7 million, reflecting higher public-company and supply-chain costs. AIR said its market shares remained steady despite pricing actions and that it is gaining share in Saudi Arabia. Europe revenue increased 0.4% to $25.2 million, while adjusted EBITDA fell to $0.1 million from $1.8 million a year earlier. Management said steep excise-tax increases and inadequate enforcement have contributed to illicit product activity in some European markets. CEO Stuart Brazier said Europe historically experiences stronger second-half performance because distributors and wholesalers build inventory ahead of January tax increases. New growth categories generated $2.2 million of revenue, up 37.5% from a small base. The segment’s adjusted EBITDA loss narrowed to $7.9 million from $9.3 million. AIR Global said larger contributions from these categories will depend on regulatory developments, particularly FDA acceptance of PMTA applications in the U.S. Historically, about 70% of AIR Global’s shipment volume moved through the Straits of Hormuz. Brazier said the company has shifted shipping through ports on the Gulf of Oman, Saudi Arabia and Oman, while also establishing additional inbound raw-material routes. AIR Global is also building a factory in Romania, expected to be commissioned by the end of 2026 and operational in 2027. For full-year 2026, AIR Global expects shipment volumes to be stable versus 2025, despite an estimated 1.5% headwind from weaker global travel retail demand and the impact of above-normal pricing. The company forecast revenue growth of 4% to 6% in U.S. dollars and low- to mid-single-digit adjusted EBITDA growth. Management said the EBITDA outlook reflects incremental public-company costs, accelerated factory-footprint reorganization and elevated logistics and raw-material expenses associated with the Middle East conflict. These pressures are expected to be partly offset by U.S. tariff refunds and excise-duty drawbacks. For the medium term, AIR Global expects low-single-digit organic FSM shipment growth, mid-single-digit FSM revenue growth and high-single-digit FSM adjusted EBITDA growth. The company continues to target net debt to adjusted EBITDA of 2.5 times over the long term. At June 30, AIR Global had $85.4 million in cash and cash equivalents and $430.2 million in total borrowings, resulting in net debt of $344.8 million. Net debt to adjusted EBITDA was 2.48 times based on trailing 12-month adjusted EBITDA. The company expects leverage at year-end to be broadly stable compared with 2025, reflecting IPO-related cash outflows and its investment in Greentank. On July 29, AIR Global announced a $20 million investment in Greentank at a $170 million pre-money valuation. The transaction gives AIR Global an option to increase its ownership stake by an additional 20% over the next 24 months at a $250 million valuation, as well as the right to nominate a Greentank board director. The investment provides AIR Global with access to Greentank’s Quantum Vape atomization platform, enhanced commercial terms and long-term supply assurance for its Crown Switch product. AIR Global is preparing to file a PMTA for Crown Switch later this year and plans to launch the product in the U.S. after the FDA accepts its application, subject to regulatory requirements. Brazier said the company expects to initially target specific U.S. geographies as it builds its route-to-market capability. Crown Switch has already launched in Europe, where AIR Global said it is using early commercialization to refine its approach. The company also said it has made targeted nicotine-pouch launches in the U.S. and Spain, though management described those efforts as early-stage. AIR Global said it will continue to invest in next-generation categories where it identifies opportunities for sustainable value creation, while maintaining flavored shisha molasses as the foundation of its business. Cantor Equity Partners III Inc is a blank check company. It formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Cantor Equity Partners III Inc is based in NEW YORK. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AIR Global H1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Revenue increased 3.7% to $206.9 million despite Strait of Hormuz disruptions Adjusted EBITDA remained stable yoy at $71.7 million Expects accelerating growth in the second half of 2026 DUBAI, United Arab Emirates, Aug. 20, 2026 (GLOBE NEWSWIRE) -- AIR Global PLC (NASDAQ: AIIR), the global leader in Flavored Shisha Molasses ("FSM"), today announces its first results as a public company for the six-month period ending June 30, 2026, post its listing on the Nasdaq on 18 May 2026. Unless otherwise specified, all comparative information in this release is presented by reference to the corresponding period of the preceding year. Stuart Brazier, Chief Executive Officer of AIR Global, said: “Our first half 2026 performance is a testament to the resilience of AIR’s business, the strength of our global brands and the depth of our organizational culture. Despite unprecedented challenges following the closure of the Strait of Hormuz, a route through which approximately 70% of our historical shipment volumes have been transported, we delivered revenue growth of 3.7% and stable adjusted EBITDA. End-consumer demand held steady throughout the period and shipment volumes have staged a strong recovery since the acute supply chain disruptions we experienced in March, when shipment volumes declined 38.6%. Volume growth resumed in June, and we expect this positive momentum to continue into the second half of 2026. I would like to thank every AIR employee for their commitment, agility and determination during an exceptionally challenging period. Their efforts enabled us to adapt rapidly, establish alternative supply routes and continue serving our customers around the world with minimal interruption. This execution reinforces our confidence in our strategy to drive sustainable long-term growth and value creation.” Webcast and Q&A Session: AIR Global PLC will hold a live webcast for investors and analysts at 8:00AM ET on August 20, 2026, hosted by Stuart Brazier, CEO and Bassem Lotfy, CFO. The presentation will be followed by a Q&A session. The webcast and presentation slides will be available to view on our website at News/ Events. Conference call dial in details: +1 877 407 0752 or +1 201 389 0912. Alternatively, participants may use the Call Me™ service for immediate access to the event via the following link: Call ME. The Call Me™ service will be available 15 minutes prior to the scheduled start time. FSM shipment volumes declined 9.0% in H1'26. Global Travel Retail (GTR) volumes declined 46.5% - excluding GTR, FSM shipment volumes declined 6.6%. Revenue increased 3.7% to $206.9 million, driven primarily by FSM revenue growth of 3.4% to $204.7 million. Price/mix growth was very strong at 14.0% due to accelerated pricing actions in H1'26 to offset cost inflation. Price/mix growth was especially strong in the MEAA region at 17.1%. Net loss for the period was $81.8 million in the first half of 2026, heavily impacted by several one-time items, including: Net loss was also impacted by a 5.5% increase in costs of sales, primarily driven by the increase in revenue but also impacted by higher logistics and raw material costs associated with the Middle East conflict. Furthermore, net income reflects EBITDA1 loss of $52.1 million in the first half of 2026. Adjusted EBITDA2 was $71.7 million in the first half of 2026, flat year-over-year, reflecting lower shipment volumes, higher logistics and raw material costs associated with the Middle East conflict, accelerated factory footprint changes resulting from the conflict, and incremental public company costs, partially offset by minor benefits from US tariff refunds and excise duty drawback. Basic EPS was a loss of ($0.57) in H1'26. FX impact was minimal. AIR operates its business largely in USD or USD pegged currencies. For FY'26, AIR expects: Stable shipment volumes versus FY'25, despite an approximately 1.5% headwind from weaker Global Travel Retail (GTR) volumes resulting from the Middle East conflict, as well as the impact of above-normal pricing implemented to offset higher cost inflation. Revenue growth of 4% to 6% (in USD). Low- to mid-single-digit Adjusted EBITDA growth. Adjusted EBITDA growth in FY'26 is expected to be below AIR's historical high-single-digit growth trend, primarily due to: Excluding these cost headwinds, Adjusted EBITDA growth in FY'26 would be expected to be in line with AIR's historical high-single-digit growth trend. Broadly stable net financing costs. Broadly stable Net Debt-to-Adjusted EBITDA3 at FY'26 year-end compared to FY'25, reflecting cash outflows associated with the IPO and the Greentank investment. An effective tax rate of approximately 15%. Capital expenditures of $15 million to $18 million. On August 24, 2026, AIR will hold an EGM of shareholders to vote on five proposals related to share repurchases, the details of which are available here. No share repurchases have been incorporated in the 2026 outlook or medium-term guidance below. For FY'27 and over the medium term, AIR expects: Low-single-digit organic FSM shipment volume growth, driven by continued market share gains and expansion into new markets, assuming non-disruptive excise tax increases. Mid-single-digit FSM revenue growth (in USD). High-single-digit FSM Adjusted EBITDA growth (in USD). The timing and scale of revenue and Adjusted EBITDA contribution from New Growth Categories (NGC) will depend on FDA acceptance of the Company's PMTA applications. Continued deleveraging, with a consistent reduction in Net Debt-to-Adjusted EBITDA. AIR's long-term target leverage ratio is 2.5x Net Debt-to-Adjusted EBITDA*. * No reconciliation to the most directly comparable IFRS financial measures has been provided due to the inherent difficulty in forecasting and quantifying certain amounts that would be necessary for such reconciliation. Segment Reporting Americas Americas revenue grew 3.4% driven by price-mix, offset by marginally lower volume. Adjusted EBITDA grew 17.2% due to revenue growth and strong cost control. Europe Europe remained challenging in the first half of 2026, continuing trends seen in recent years, as steep excise tax hikes and lack of enforcement have led to proliferation of illicit products. Revenue grew 0.4% and adjusted EBITDA declined to $0.1 million, as pricing gains were insufficient to offset excise-driven volume weakness. MEAA MEAA revenues grew 4%, driven by high teens price-mix growth. Adjusted EBITDA declined 4.0%. MEAA includes Global travel retail as well as our corporate headquarters. In the first half of 2026, costs were higher due to incremental public market costs, and higher supply chain costs due to the Middle East conflict. Our market shares remain steady despite the significant pricing taken year-to-date, and in the key market of Saudi Arabia, we are seeing share growth. NGC NGC revenue grew 37.5%, albeit off a small base, due to growth in OOKA and launch of Crown Switch in Europe. NGC losses remain elevated due to investments behind new product launches in vapes and pouches. Adjusted EBITDA was a loss of $7.9 million, reflecting continued investment in new product development and commercialization. Impact of the Strait of Hormuz Disruption The sudden closure of the Strait of Hormuz created significant supply chain disruptions during the first half of 2026, affecting shipment timing across several key markets. While March shipments were materially impacted, end-consumer demand remained resilient and purchase orders were preserved. AIR acted quickly to develop alternative routes, mitigate supply chain risk, and support customer continuity. As logistics conditions improved, shipment volumes recovered, returning to growth in June. Greentank Strategic Investment On 29 July 2026, AIR announced a $20 million strategic investment into Greentank at a pre-money valuation of $170 million, with an option to increase the ownership stake by another 20% over the next 24 months at a valuation of $250 million. This partnership secures certain commercial advantages for AIR and accelerates our path towards launching Crown Switch in the US. AIR also shared results of a new study evaluating aerosol emissions from the planned USA variants of AIR’s Crown Switch™ electronic vaping product, which is powered by Greentank’s Quantum Vape™ platform. Conducted by McKinney Specialty Labs, LLC, an independent, specialty analytical laboratory in Richmond, Virginia, the study found that Crown Switch aerosol contained substantially lower levels of several harmful and potentially harmful constituents (HPHCs) than a range of FDA-authorized ENDS products already on the market. Reconciliation of operating (loss) / profit to adjusted EBITDA Please note that further details on Adjusted EBITDA are included in the Appendix. As disclosed in our Report on Form 20‑F filed on May 21, 2026, and further elaborated in our Report on 6-K filed on June 08, 2026, AIR has approximately 160.39 million ordinary shares outstanding. These include: Approximately 5 million shares are subject to return to us pursuant to a Forward Purchase Agreement executed on May 11, 2026, as described in our SEC filings; and Approximately 8.69 million ordinary shares that are subject to company and sponsor earnouts (the “Earnout Shares”), which vest only upon achieving specified share‑price thresholds (US$12.50 and US$15.00) prior to May 31, 2031. As of August 20, 2026, these earnout shares had not vested. 1 AIR defines EBITDA as earnings for the period before interest, taxation, depreciation and amortization. The most directly comparable IFRS measure is profit/ (loss) for the period. EBITDA is an intermediate step in AIR’s calculation of Adjusted EBITDA, as set out in the reconciliation in Appendix D. 2 AIR defines Adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operating expenses. Adjusted EBITDA is not a measure specifically defined under IFRS. The most directly comparable IFRS measure is profit/(loss) for the period. A reconciliation of profit/(loss) for the period to Adjusted EBITDA is set out in Appendix D. 3 AIR defines Net Debt as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents, each as reported on AIR’s IFRS statement of financial position. AIR defines the ratio of Net Debt to Adjusted EBITDA (“leverage”) as Net Debt divided by Adjusted EBITDA. Neither Net Debt nor the Net Debt to Adjusted EBITDA ratio is presented in accordance with IFRS; the most directly comparable IFRS measures are total borrowings and cash and cash equivalents, each as reported on AIR’s statement of financial position. AIR believes this ratio is a useful measure of AIR’s capital structure and progress toward its target leverage. A reconciliation of profit/(loss) for the period to EBITDA and Adjusted EBITDA and total borrowings to Net Debt is set forth in Appendix D. See “Use of Non-IFRS Financial Measures” for further information regarding the non-IFRS financials measures included in this press release. Appendix A: Consolidated Statement of Financial Position Appendix B: Consolidated Statement of Comprehensive (Loss)/Income Appendix C: Consolidated Statement of Cash Flows Unaudited interim condensed consolidated statement of cash flows (continued) Appendix D: Reconciliation of operating (loss) / profit to adjusted EBITDA (i) During the six months ended June 30, 2026, the Group recognized $12,439 thousand in share-based compensation expense, primarily in relation to the Milestone Incentive Plan and Retention Awards, both equity-settled arrangements established for senior management in connection with a listing event. For the six months ended June 30, 2026, share-based compensation expense increased relative to the prior comparable period, reflecting the impact of beneficial modifications to the terms of certain participant awards made during the second half of 2025. Although these arrangements are one-time programs linked to the completion of an exit event and will not recur in future periods, the related charges will continue to be recognized over the remaining vesting period in accordance with IFRS 2 “Share-based Payments.” (ii) During the six months ended June 30, 2026, the Group incurred non-recurring costs of $7,365 thousand directly related to public company readiness activities. These expenditures were incurred to assess and implement the Group's requirements as a publicly listed company, alongside other professional fees including, but not limited to legal, tax, and accounting. These costs would not otherwise have been incurred in the normal course of operations. (iii) During the six months ended June 30, 2026, regional disruption rendered certain normal supply and logistics routes temporarily unavailable. As a result, the Group was required to enter into contracts for air-freighting materials and finished goods to maintain continuity of operations, a measure not employed in the ordinary course of business. In addition, the Group was unable to procure a key ingredient – glycerin - from contracted supply sources and was required to secure continuity of supply through a short-term contract at prices significantly above normal market conditions. Management has adjusted for the incremental cost of these ingredients, as it does not consider them reflective of the Group’s normalized cost base. Incremental costs in respect of re-routing of land and sea-based shipments, and other inflationary and situational increases, have not been adjusted and are considered operational and within the control of management. (iv) During the six-month period ended 30 June 2026, the Group incurred regulatory costs of $1,980 comprising consulting, advisory, and research fees to support the preparation and submission of a U.S. Premarket Tobacco Product Application (PMTA) for one of its devices. Management considers PMTA applications to be infrequent and non-recurring in nature, with associated costs that are significant relative to the Group's normal operating activities. Accordingly, these costs have been adjusted in management's assessment of underlying performance. (v) During the six-month period ended 30 June 2026, in accordance with the terms of the Business Combination Agreement, on 15 May 2026, the Group issued 4,408,369 shares (including 1,500,000 subject to earnout performance conditions) for an average fair value of $11.45 per share amounting to $50,490 in total share premium. While $2,340 of this share premium was received in cash (in consideration for 226,360 shares issued by the Group), $48,150 of issuance cost is taken as a charge to the unaudited interim condensed consolidated statement of comprehensive income in accordance with IFRS 2 "Share based payments". Furthermore, during the six- month period ended 30 June 2026, as a result of the BCA transaction that took effect on 15 May 2026, the Group incurred expenses including sponsor marketing and advisory fees for a total of $32,635, satisfying redemption fees on shares redeemed of $4,106, and other advisory, legal and administrative fees of $10,994. Reconciliation of total borrowings (current and non-current interest-bearing loans and borrowings) to Net Debt/Adjusted EBITDA *Note: Net Debt / Adjusted EBITDA is calculated based on rolling twelve-month Adjusted EBITDA. H1’26 is based on the latest available financial statements. The comparator period is H1’25. To ensure a like-for-like comparison, H2’25 Adjusted EBITDA was derived from FY 2025 Adjusted EBITDA as previously reported of $139.3 million, less H1’25 Adjusted EBITDA of $71.7 million, resulting in H2’25 Adjusted EBITDA of $67.6 million. (i) Represents total borrowings (including “current and non-current borrowings” as shown in the consolidated statement of financial position) less cash and cash equivalents. (ii) Represents earnings before interest, taxes, depreciation and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operational items. (iii) Represents Net Debt divided by Adjusted EBITDA. Net Debt/Adjusted EBITDA is a non-IFRS leverage ratio and differs from the gearing ratio (net debt divided by total capital) presented in AIR’s historical financial statements. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. AIR Global PLC is the public operating company that resulted from the business combination of AIR Limited with a special purpose acquisition company, which completed in May 2026, and is accordingly not a “blank check company” for purposes of these safe harbor provisions. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position as well as our FY2026 and FY2027 financial outlook and medium-term guidance, expected recovery in shipment volumes and accelerating growth in 2H26, our Greentank investment and the related option to increase our ownership stake, the timing of PMTA filings and FDA acceptance and the anticipated launch of Crown Switch, our expectations regarding cannibalization and next generation categories, our share count and the vesting of Earnout Shares, business strategy and plans and objectives of management for future operations, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: disruptions to our supply chain and shipments, including as a result of the closure or disruption of the Strait of Hormuz; our dependence on distributors and suppliers; competition and cannibalization from next generation categories; our ability to obtain FDA acceptance and authorization of our PMTA applications on the timelines we expect, or at all; regulatory changes and enforcement trends in the tobacco and nicotine industries; the results of scientific studies and their acceptance by regulatory authorities; the preliminary nature of the McKinney pilot study data, which is subject to further testing and verification and may change materially as additional data becomes available; the potential exercise of warrants to increase our ownership in Greentank; our ability to execute our product development and commercialization strategy, including our U.S. market expansion strategy; excise tax increases and illicit trade in our European markets; changes in consumer preferences; fluctuations in foreign currency exchange rates; dilution from our Earnout Shares and other equity arrangements; tariffs and trade policy changes; changes in applicable laws or regulations; general economic conditions; our ability to realize the anticipated benefits of the Greentank investment; tax, legal and accounting developments; our history of previously identified material weaknesses in internal control over financial reporting; and the other important factors discussed under the caption “Risk Factors” in our Registration Statement on Form F-4, as amended, filed with the U.S. Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our other filings with the SEC, including our Reports on Form 6-K. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. Use of Non-IFRS Financial Measures This press release includes EBITDA, Adjusted EBITDA, Net Debt and the ratio of Net Debt to Adjusted EBITDA, each of which is a financial measure not presented in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) and may be different from similarly titled measures used by other companies. AIR defines EBITDA as earnings for the period before interest, taxation, depreciation and amortization. The most directly comparable IFRS measure is profit/(loss) for the period. EBITDA is an intermediate step in AIR’s calculation of Adjusted EBITDA, as set out in the reconciliation in Appendix D. AIR defines Adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operating expenses. The most directly comparable IFRS measure is profit/(loss) for the period. AIR believes that Adjusted EBITDA is a useful measure as it allows investors and management to evaluate AIR’s operating performance on a consistent basis, excluding the impact of non-operational, non-cash, or one-time items that may obscure underlying trends, and facilitate comparison across periods and with peer companies. Adjusted EBITDA is not a presentation made in accordance with IFRS, and AIR’s use of the term may vary from its use by other companies. You should exercise caution in comparing AIR’s Adjusted EBITDA to similarly titled measures reported by other companies and should not consider it in isolation or as a substitute for analysis of AIR’s results as reported under IFRS. Some of these limitations include that Adjusted EBITDA does not reflect cash expenditures or future requirements for capital investments or contractual commitments; does not reflect changes in, or cash requirements for, working capital needs; does not reflect interest expense or the cash requirements necessary to service interest or principal payments on debt; does not reflect any cash income taxes AIR may be required to pay; and, although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often need to be replaced in the future, which Adjusted EBITDA does not reflect. In addition, other companies in AIR’s industry may calculate this measure differently, limiting its usefulness as a comparative measure, and the adjustments made in calculating Adjusted EBITDA are those that management considers not representative of AIR’s core operations and are therefore subjective in nature. A reconciliation of profit/(loss) for the period to EBITDA and Adjusted EBITDA is set forth in Appendix D. AIR defines Net Debt as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents, each as reported on AIR’s IFRS statement of financial position. AIR defines the ratio of Net Debt to Adjusted EBITDA (“leverage”) as Net Debt divided by Adjusted EBITDA. Neither Net Debt nor the Net Debt to Adjusted EBITDA ratio is presented in accordance with IFRS; the most directly comparable IFRS measures are total borrowings and cash and cash equivalents, each as reported on AIR’s statement of financial position. AIR believes this ratio is a useful measure of AIR’s capital structure and progress toward its target leverage. A reconciliation of total borrowings to Net Debt is set forth in Appendix D. No Offer or Solicitation This press release is for informational purposes only and does not constitute (and shall not be construed as) an offer to sell or the solicitation of an offer to buy any securities of AIR, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Contacts AIR Investor Relations: Gaurav Jain: [email protected]; +971-56-439-4296Anuja Shendye: [email protected]; [email protected] Follow AIR Global on X. AIR Media Relations:ICR for AIRFor more information, email inquiries to [email protected]

DUBAI, United Arab Emirates, Aug. 06, 2026 (GLOBE NEWSWIRE) -- AIR Global PLC (“AIR” or the “Company”) (NASDAQ: AIIR) will host a live audio webcast on Thursday, August 20, 2026, at 8:00 a.m. Eastern Time to discuss its financial results for the six months ended June 30, 2026, which will be issued at approximately 7:00 a.m. Eastern Time the same day. The webcast will be hosted by Stuart Brazier, Chief Executive Officer, and Bassem Lotfy, Chief Financial Officer, and will include a discussion of AIR’s financial results, followed by a question-and-answer session. The webcast will be accessible through the Investor Relations section of AIR’s website at www.air.global or directly here. The earnings release and presentation materials will also be available on the website prior to the webcast. An archived replay of the webcast, together with presentation materials, will be available on the Investor Relations section of the Company’s website shortly after the event. About AIR Founded in 1999 and headquartered in Dubai, AIR is a global consumer brands and innovation company with a presence in more than 90 markets worldwide. Its portfolio reaches millions of adult consumers across social inhalation and modern nicotine categories through brands including Al Fakher (flavored shisha molasses), Crown Switch (closed system pod vaping platform), Crown Gems, and Al Fakher nicotine pouches. AIR’s strategy combines category-leading brands, scientific research, and in-house innovation capabilities. Strategic investments such as Greentank and royalty-generating intellectual property partnerships such as Crown Bar enhance its participation in fast-growing nicotine and inhalation categories. The company develops next-generation technologies and products, including OOKA. By connecting brands, technology, science, and commercial partnerships, AIR is building a differentiated platform positioned to shape the future of adult consumer experiences. Forward‑Looking Statements This press release contains “forward‑looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “contemplate,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “seek,” “should,” “target,” “will,” or, in each case, their negative or other variations or comparable terminology. Such forward‑looking statements are based on available current market material and management’s expectations, beliefs and forecasts concerning future events impacting the Company. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward‑looking statements, including, among others: the Company’s ability to realize the anticipated benefits of the Greentank investment and partnership; the potential exercise of warrants to increase ownership in Greentank; the Company’s U.S. market expansion strategy; the timing and outcome of regulatory submissions, including PMTA applications to the FDA; regulatory changes and enforcement trends in the tobacco and nicotine industries; the Company’s ability to execute its product development and commercialization strategy; the results of scientific studies and their acceptance by regulatory authorities; the preliminary nature of the McKinney pilot study data, which is subject to further testing and verification and may change materially as additional data becomes available; the potential presentation of study results at the Tobacco Science Research Conference; supply chain constraints and costs; changes in consumer preferences; competition in the hookah, vaping and nicotine product markets; macroeconomic, geopolitical, and industry conditions; tax, legal, and accounting developments; and other risks described in the Company’s filings with the SEC, including the Company’s Form 20‑F for the year ended December 31, 2025 and subsequent furnished or filed reports. Nothing in this press release should be regarded as a representation by the Company that the forward‑looking statements will be achieved. Forward‑looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward‑looking statements, whether as a result of new information, future events, or otherwise, except as required by law. No Offer or Solicitation This press release is for informational purposes only and does not constitute (and shall not be construed as) an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Contacts AIR Investor Relations: Gaurav Jain: [email protected]; +971-56-439-4296 Anuja Shendye: [email protected]; +971-58-907-8782 [email protected] AIR Media Relations: ICR for AIR For more information, email inquiries to [email protected]