LONDON, Ontario, October 18, 2026 (GLOBE NEWSWIRE) — Aduro Clean Technologies Inc. (“Aduro” or theCompany”) (Nasdaq: ADUR; TSX: ACT; FSE: 9D5), a clean technology company that uses chemical recycling to transform low-value feedstocks such as waste plastics, heavy bitumen, and renewable oils into resources suited to the needs of the 21st century, today released its condensed interim consolidated financial results for the quarter ended August 31, 2026, together with the key highlights set out below. Unless otherwise stated, all financial figures in this press release are expressed in Canadian dollars.

Management Commentary

“In the first quarter of fiscal 2027, Aduro continued to advance and confirm the progress made since commissioning its next-generation pilot plant (the ‘NGP plant’), as well as in other key areas of its industrial deployment, including engineering, feedstock supply, and commercial activities,” said Ofer Vicus, Chief Executive Officer of Aduro. “Successive operating campaigns are giving us a deeper understanding of process behavior, how different feedstocks respond, and the performance of the resulting products. These insights now feed directly into the early works engineering program we are conducting with Saipem for the first-of-its-kind commercial unit planned at Chemelot. During the quarter, we also strengthened the organization established to deliver the project in Europe, improved the planning of our feedstock supply logistics, and resized the scope of our development programs with industrial partners active in plastic waste recycling and petroleum applications.”

“After the close of the quarter, we extended the operating program of our next-generation pilot plant with a 75-hour campaign focused on different polypropylene and polyethylene compositions, which provided additional data on yields, process response, and product consistency. At the same time, our engagements with Chemical Recycling Europe, PepsiCo, and participants at the International Refining & Petrochemical Conference (‘IRPC’) are helping to steer the development of our technology toward the concrete needs of the industries and value chains we target. Our priority remains clear: execute, obtain the necessary operating data, ground engineering decisions in the results achieved, and convert commercial opportunities into reality.”

“During the quarter, we further strengthened the Company's financial resources by completing a public offering in the United States alongside a non-brokered private placement in Canada,” added Mena Beshay, Chief Financial Officer of Aduro. “These financings give us the means to advance our priority projects, including the operation of our next-generation pilot plant, engineering and development of the commercial unit, research and development, and our broader commercialization activities. As the Company progresses through fiscal 2027, we continue to prioritize disciplined capital allocation against clearly defined technical, engineering, and project milestones.”

Q1 2027 Financial Highlights (Three Months Ended August 31, 2026)

The operating result was income of $1,202,141 in Q1 2027, compared with a loss of $6,325,018 recorded in Q1 2026 This improvement is primarily attributable to a non-cash gain from the remeasurement of the derivative financial liability and to lower non-cash share-based compensation expense. These favorable effects were partially offset by higher research and development expenses, technology scale-up work, and other general costs related to the Company's listing on the Toronto Stock Exchange.

Excluding non-cash items and other income, the adjusted EBITDA(1) loss widened to $2,734,587 in Q1 2027, versus a negative result of $2,254,384 in the prior-year quarter.

Taken together, the results reflect a business still in its build-out phase: revenue remains limited to non-recurring evaluation services, spending is concentrated in research, scale-up, and listing-related costs, and the strengthened cash position is directed toward the pilot operations, commercial-unit engineering, and commercialization activities management has identified as priorities.

Revenue for Q1 2027 was zero, compared with $44,500 recorded for the same period in 2026. The Company's current revenue is derived from services delivered under its customer engagement programs, which focus on evaluating its technology applications and collaboration projects. It is therefore non-recurring and varies with the timing and scope of evaluation projects. Quarter-to-quarter differences reflect the allocation of the Company's resources among development activities, ongoing technical analyses, and customer evaluation programs.

As of August 31, 2026, the gross value of property, plant and equipment stood at $10.8 million, compared with $10.0 million for the period ended May 31, 2026, an increase of approximately $0.8 million. This growth was driven primarily by investments in the commercial unit, the next-generation pilot plant, and laboratory infrastructure and related facilities.

The Company's cash position remained strong at $65.7 million as of August 31, 2026, compared with $38.3 million as of May 31, 2026. This increase resulted mainly from a public offering in the United States, conducted alongside a non-brokered private placement in Canada, which generated approximately $28.9 million in net proceeds. Operating and investing outflows during the period partially tempered these favorable effects. Subsequent to August 31, 2026, Aduro received gross proceeds of approximately $0.3 million from the exercise of options and warrants, further strengthening its balance sheet.

Reconciliation of Adjusted EBITDA (Non-GAAP Measure) to Operating Income Computed Under GAAP

Basis for adjustments: Share-based compensation: non-cash expense related to stock options and share grants. Change in fair value of the derivative financial liability: non-cash gain or loss arising from the remeasurement of financial instruments. Depreciation and amortization: non-cash charges on tangible and intangible assets. Other income: interest earned on cash deposits and other exceptional income.

Q1 2027 Highlights and Subsequent Events

Next-Generation Pilot Plant Advances Through Structured Operating Campaigns

During the quarter, Aduro continued its structured operating campaigns at the NGP pilot plant, moving from initial operational validation to increasingly sustained and better-controlled operation.

In June 2026, the Company published the results of a campaign run at the NGP plant on a 24-hours-per-day, four-days-per-week schedule. Excluding startup and shutdown, the unit operated continuously for 47 hours on polypropylene recovered from plastic waste. Steady state was reached after approximately 12 hours and maintained for an additional 35 hours. During this steady-state period, liquid hydrocarbon recovery represented approximately 86% of the polypropylene mass fed into the reactor, and nearly 85% of the recovered liquid consisted of hydrocarbons with 20 or fewer carbon atoms (C20 and below). The campaign also demonstrated the system's ability to return to target operating conditions after deliberate revisions to process parameters.

The results of this campaign and of the operating tests that followed were used to refine equipment, instrumentation, process control systems, and operating procedures, and to schedule longer campaigns. The NGP operating program aims to progressively expand the Company's operational database across different feedstock compositions and operating conditions, while generating data useful for equipment design, process control, product quality, and the engineering basis of the future commercial unit.

Stronger Financial Position Following a U.S. Public Offering Alongside a Canadian Non-Brokered Private Placement

In June 2026, Aduro closed an underwritten public offering of 1,028,645 common shares at a price of US$15.20 per share, raising estimated gross proceeds of US$15.64 million (C$21.9 million). The funds raised are intended to finance the design, engineering, and construction of the commercial unit, the continuation of research and development activities, general corporate purposes, and working capital.

The Company also completed a non-brokered private placement under the Listed Issuer Financing Exemption (the “LIFE offering”), issuing 431,884 common shares at a price of C$21.20 per share (US$15.20), gross proceeds of approximately C$9.16 million (US$6.56 million). Proceeds from the LIFE offering are intended to finance technology development, commercialization activities, working capital, and general corporate purposes.

Delivery Capabilities Strengthened for the Chemelot Commercial Unit Project

In June 2026, Aduro appointed Jan Lemmens as Project Director to lead the future commercial unit at the heart of the Chemelot industrial park in Sittard-Geleen, the Netherlands. Mr. Lemmens brings more than thirty years of industrial management experience in the European specialty materials, plastics, and chemical processing sectors. His background spans project delivery, chemical plant operations, engineering coordination, and on-site execution.

He is responsible for coordinating engineering activities and permit applications, liaising with suppliers and contracting partners, overseeing site planning, and preparing the construction and operating phases. He also participates in coordinating on-the-ground activities in the Netherlands with the engineering and operations teams located in Canada. The appointment reinforces the local delivery capacity required for the project as the commercial unit initiative enters a more structured phase of engineering, permitting, and execution planning.

Feedstock Logistics Planning Advances With the Support of Ortessa

The legally non-binding memorandum of understanding concluded in June 2026 with Ortessa Groep B.V., a Dutch waste management group, aims to evaluate the development of a feedstock supply logistics hub to support the planned installation of a first-of-its-kind commercial unit at Chemelot. The parties intend to study the identification and aggregation of suitable post-consumer plastic streams, together with requirements for feedstock preparation, quality control procedures, documentation, inventory management, and storage and transport arrangements.

The collaboration contemplates the establishment of a reliable supply chain of specification-compliant feedstock to support the startup and operation of the future commercial unit, which targets annual production of 10,000 tonnes while allowing for possible future expansion of the site.

AstroTurf MOU Marks Progress in Evaluating Synthetic Turf Recycling

In June 2026, Aduro and AstroTurf Corporation concluded a memorandum of understanding to evaluate the application of HCT technology to end-of-life synthetic turf.

The collaboration aims to examine how mechanical preprocessing and HCT conversion could help define a technically and economically viable pathway for recovering polyethylene and polypropylene fractions and converting them into liquid hydrocarbons suitable for use as circular feedstocks in existing petrochemical infrastructure. Building on earlier laboratory work, the program is expected to cover the entire chain, from turf collection and material separation to the preparation of a polyolefin-rich feedstock and its conversion through HCT technology.

From Feedstock Mapping to HCT Trials: A New Step in the ECOCE Collaboration

In July 2026, Aduro and ECOCE, A.C. completed the first phase of feedstock mapping and selection under their collaboration focused on flexible and multilayer plastic waste in Mexico. Materials selected from post-consumer packaging streams — including flexible polyethylene and polypropylene packaging and multilayer packaging — were incorporated into a defined HCT testing program.

The next phase will begin with laboratory-scale HCT trials to evaluate processability, product characteristics, yields, residues, contaminant behavior, and mass balance. The findings will determine whether certain of the selected materials qualify for third-phase testing at the NGP plant. The program aims to establish a data-based understanding of how representative flexible and multilayer packaging streams can be integrated into a circular value chain, from collection and feedstock preparation through HCT conversion to potential downstream applications in circular plastics.

Paraffinic Crude Program Moves to Continuous-Flow Development

During the quarter, Aduro continued its development work to evaluate the application of HCT technology to highly paraffinic crude oils. In July 2026, the Company announced that it had secured “yellow wax” and “black wax” petroleum feedstocks from multiple sources in the Uinta Basin, located in northeastern Utah, United States, in quantities sufficient to contemplate longer testing.

The Company completed the design, construction, and testing of a dedicated laboratory-scale unit operating in continuous flow for the paraffinic crude program. This purpose-built unit strengthens the Company's capacity to conduct extended testing as the program progresses from technology demonstration toward process development and optimization. The current program aims to define an operating window and to evaluate conversion, product characteristics, yields, and stability across multiple paraffinic crude charges, as well as their fouling potential.

The Company also expanded its facilities in London, Ontario, by approximately 4,600 square feet to house additional equipment, facilitate feedstock handling, and grow operating activities. As part of this resizing, the Company consolidated equipment and operations previously located in Sarnia, also in the Province of Ontario.

Saipem Selected for Early Works Engineering and Procurement Support for the Commercial Unit

In August 2026, Aduro selected Saipem S.p.A. (“Saipem”) to provide early works engineering and procurement support for the preparatory work on the planned commercial unit project at Chemelot. The initial scope covers review of the process design package, optimization of critical equipment lots, early integration of utility networks, and refinement of capital budgets. Operating data from the NGP plant is being integrated into this work, directly correlating operational findings and validated improvements with the engineering basis of the future unit.

Saipem is a global leader in the engineering and construction of major projects in the energy and infrastructure sectors, both onshore and offshore. Its worldwide reputation rests on the delivery of complex industrial and energy infrastructure projects. The company brings extensive experience in process engineering, modular project execution, downstream pathways, and the industrial-scale deployment of technologies.

This work establishes a structured, staged approach to project engineering and execution organized around validation steps and milestones, aligning the gradual development of the industrial project with technical validation data. Subject to the successful completion of the preparatory work, continued project evaluation, and the conclusion of definitive agreements, the collaboration could progress to the front-end engineering design (“FEED”) phase and then to subsequent stages of detailed engineering, procurement, construction, commissioning, and startup.

Relations With Technical, Industrial, and Financial Partners

During the quarter, Aduro continued its engagement with technical and industrial partners, as well as with financial market participants in Europe and North America, prioritizing communication with institutional investors and industrial stakeholders while advancing NGP plant operations, commercial unit project development, and commercialization efforts.

Aduro took part in the Canadian Climate Investor Conference, organized by the Toronto Stock Exchange and the TSX Venture Exchange. The event marked the Company's first TSX-organized investor conference since Aduro joined the exchange. Aduro also attended the 16th annual ROTH conference in London, where Chief Executive Officer Ofer Vicus and Chief Financial Officer Mena Beshay met with institutional investors, followed by the Canaccord Genuity Growth Conference in Boston. These meetings opened discussions on the progress of NGP plant operating campaigns, the development of the Chemelot commercial unit, commercialization efforts, and the strengthening of the Company's financial resources.

Aduro was also present at the AMI European Chemical Recycling Conference held in Frankfurt and at the Advanced Recycling Conference North America organized in Pittsburgh. Technical presentations focused on Hydrochemolytic™ technology, as well as feedstock flexibility, product quality, downstream integration, and the practical requirements for moving chemical recycling from pilot-scale validation to industrial deployment. These activities fostered ongoing exchanges with recycling players, polymer and petrochemical producers, brand owners, technology suppliers, and other participants in the circular plastics value chain.

Events Subsequent to the Close of the Quarter

NGP Plant Extends Campaigns With Varied Polyolefin Feedstocks

In September 2026, Aduro completed a 75-hour campaign at its NGP pilot plant that processed nearly 758 kilograms of polymers distributed across three controlled polyolefin feedstock compositions. The campaign produced condensable hydrocarbon yields of 88.8% for a feed composed of 100% polypropylene, 90.8% for an 80/20 polyylene/polyethylene blend, and 89.2% for a 50/50 blend of polypropylene and polyethylene. Product quality indicators remained stable compared with the results of previous campaigns, and the system returned to target operating conditions approximately two hours earlier than in the comparable previous campaign, following revisions to process parameters.

These results are part of a series of campaigns conducted in July, August, and September that deepened operational knowledge of different feedstock compositions and operating parameters. The findings are used to refine equipment, instrumentation, control systems, and operating procedures between campaigns. Saipem also receives NGP plant operating data under the Early Works program for the FOAK project, allowing pilot plant observations and engineering improvements to be transferred directly into the development of the FOAK plant's engineering basis.

The next stage of the NGP program is expected to consist of longer campaigns targeting the processing of more representative waste-derived plastic materials, including materials supplied by potential feedstock partners of the commercial unit project and certain materials drawn from customer engagement programs.

Aduro Participates in the PepsiCo Sustainability Innovation Platform

In September 2026, Aduro was among the 10 companies invited to participate in this event held in Mexico City. Mr. Appelman of the finance leadership presented HCT technology to PepsiCo's Latin American teams and, more broadly, to representatives of the company worldwide, addressing issues related to sustainability, packaging, innovation, and other technical and commercial topics.

The presentation focused on potential applications of the technology to polyolefin-rich flexible films and multilayer plastic packaging. It illustrated a specific packaging challenge for PepsiCo and detailed how HCT technology could be applied to complex, polyolefin-rich packaging streams, highlighting potential benefits, economics, and scale-up capability, as well as technical considerations for processing these materials and deploying the technology at industrial scale. The exchanges drew on the workduro is conducting with ECOCE in Mexico, where representative feedstocks from flexible and multilayer plastic packaging are being evaluated within the Company's HCT development program.

The meeting provided an opportunity to present the Company's technology development directly to a major player in the global packaging value chain and to better understand the technical and commercial requirements associated with complex packaging streams. Any future collaboration between Aduro and PepsiCo remains subject to separate evaluations, decisions, and agreements between the parties.

Paraffinic Crude Development Program Presented at the 2026 International Refining and Petrochemical Conference

In October 2026, Aduro participated in the IRPC event, held in Houston, Texas. Mr. Appelman of the finance leadership led a session titled “A New Technology to Unlocking Value from Highly Paraffinic Crude Oil,” presenting the Company's development work on the application of HCT technology to these hydrocarbons and the potential implications for producers, midstream operators, and refiners evaluating such feedstocks.

The presentation expanded sector dialogue around the paraffinic crude development program, building on the advances made during the quarter, including the securing of representative feedstocks from the Uinta Basin and the completion of a dedicated continuous-flow development unit. Aduro's participation in the IRPC event enabled direct exchanges with refining and petrochemical stakeholders as the Company continues continuous-flow testing and technology development within its highly paraffinic crude program.

Finance Head Elected to the Board of Directors of Chemical Recycling Europe

Subsequent to the close of the quarter, Eric Appelman, Aduro's head of finance, was elected to the Board of Directors of Chemical Recycling Europe (“CRE”) for a 2026–2028 term. The election took place at CRE's annual general meeting on September 29, 2026, in Brussels, ahead of the organization's annual conference. During the session, Mr. Appelman presented Aduro's Hydrochemolytic™ technology and its scale-up trajectory for the chemical recycling of polyolefins.

Aduro joined Chemical Recycling Europe in March 2026. Mr. Appelman's appointment to the Board supports the Company's role in the European industry dialogue at a time when regulatory and market frameworks for circular plastics continue to evolve. CRE's current priorities include supporting investment in the chemical recycling sector, accelerating demand and developing commercial outlets for circular materials, and implementing provisions related to recycled content and mass balance. This participation is of particular interest to Aduro, which plans annual capacity of 10,000 tonnes for its future commercial unit at Chemelot, in the Netherlands.

Document Availability

Complete copies of the Company's condensed interim consolidated financial statements and the related management's discussion and analysis filed for the quarter ended August 31, 2026, are available under the Company's SEDAR+ profile (www.sedarplus.ca) and on EDGAR (www.sec.gov).

Notes: (1) Non-GAAP Measure

Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) and adjusted EBITDA are not alternatives to net income determined in accordance with these standards. EBITDA and adjusted EBITDA are not defined under IFRS and therefore may not be comparable with similar measures adopted by other issuers. By EBITDA, the Company means earnings before interest, taxes, depreciation, and amortization. Adjusted EBITDA corresponds to EBITDA excluding share-based compensation, the change in fair value of the derivative financial liability, and acquisition-related charges. The Company considers EBITDA and adjusted EBITDA to be relevant financial indicators for investors in that they provide nuance to earnings and show the amounts available to fund working capital needs and support future growth projects.

Non-IFRS Financial Measures

This press release presents data on EBITDA and adjusted EBITDA, two non-IFRS financial measures, to support operational performance data. By EBITDA, Aduro means net earnings before interest, taxes, depreciation, and amortization. Adjusted EBITDA deducts non-cash share-based compensation, the non-cash change in fair value of the derivative financial liability, and acquisition-related charges from EBITDA. The Company considers EBITDA and adjusted EBITDA to be relevant financial indicators for investors in that they provide nuance to earnings and show the amounts available to fund working capital needs and support future growth projects. These measures cannot substitute for their IFRS counterparts. A significant limitation of these non-IFRS measures is that the IFRS accounting effects of the adjustments do in fact reflect the underlying financial results of Aduro's activities and cannot be ignored when evaluating and analyzing its financial results. Accordingly, management believes that Aduro's net-income-focused IFRS measures and the respective non-IFRS measures are required to be evaluated in parallel. Non-IFRS measures are not defined under IFRS and therefore may not be comparable with similar measures adopted by other companies.

About Aduro Clean Technologies

Aduro Clean Technologies is developing patented, water-based technologies to chemically recycle waste plastics, convert heavy crude oil and bitumen into lighter, higher-value oil, and transform renewable oils into higher-value renewable fuels or chemicals. The Company's Hydrochemolytic™ technology leverages water as a critical agent in a chemical platform that operates at relatively low temperatures and low cost — a game-changing approach for recycling low-value feedstocks into resources suited to the 21st century.

For further information, please contact: Abe Dyck, Business Development and Investor Relations — ir@adurocleantech.com — +1 226 784 8889

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws. These include, without limitation, statements relating to the continued operation and development of the NGP plant; the progression to longer operating campaigns and testing of additional, increasingly representative plastic waste feedstocks; the use of NGP plant operating data to support process optimization, equipment improvements, and the engineering of the future commercial unit; the timing of early works conducted with the assistance of Saipem and a possible progression to the FEED phase and subsequent engineering, procurement, construction, commissioning, and startup activities; the development of feed preparation, logistics routes, and supply principles; the development and possible future expansion of the commercial unit as a whole; the continuation of testing and development activities with AstroTurf and ECOCE; the advancement of the Company's highly paraffinic crude program; opportunities that may arise with customers, industrial players, and commercial partners; the use of proceeds from the financings obtained; and, more generally, the Company's industrial scale-up and commercialization strategies.

Forward-looking statements are based on the Company's current expectations, estimates, and assumptions in light of the information currently available, including in particular assumptions regarding the sustained performance and availability of the NGP plant and other development equipment; the ability to reproduce and confirm operational results using different feedstocks under distinct process conditions; the suitability and availability of the feedstocks required for planned testing; the transferability of pilot plant data to technical design and higher-capacity operations; the success of the planned engineering and development activities; confirmation of the commitment of technical, commercial, and industrial partners; the availability of qualified personnel, equipment, suppliers, and service providers; access to sufficient capital; obtaining the necessary regulatory permits and authorizations; and the Company's ability to advance its first-of-its-kind commercial unit strategy and its other development activities in line with expected timelines and terms.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks include, among others, operational difficulties or delays; variability in feedstock composition production yields, product quality, or process stability; the inability to reproduce laboratory results at larger scale or in a pilot facility; challenges in translating pilot plant data into industrial technical design; delays, scope revisions, or cost increases affecting the first-of-its-kind commercial unit strategy; the possibility that the collaboration with Saipem does not progress beyond the early works phase; the inability to secure feedstock in sufficient quantity or with the required characteristics, to raise financing, to identify suppliers, partners, or customers, and to conclude offtake contracts or logistics solutions; the possibility that legally non-binding memoranda of understanding, customer evaluation programs, and other collaborations do not result in definitive agreements or commercial transactions; regulatory, market, or economic developments; competition; intellectual property risks; and the other risks detailed in the public filings the Company makes on www.sedarplus.ca and on EDGAR at www.sec.gov.

Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak as of the date of this press release. The Company undertakes no obligation to update or revise them, except as required by applicable law.