Loop Industries Reports Third Quarter Fiscal 2026 Results and Provides Update on Progress Towards Commercialization

• OFFTAKE AGREEMENT FOR INFINITE LOOP INDIA WITH NIKE

• AWARD OF DETAILED ENGINEERING CONTRACT FOR INFINITE LOOP INDIA TO TOYO ENGINEERING

• CONTINUED PROGRESS ON PROJECT DEBT FINANCING FOR INFINITE LOOP INDIA

• SPENCER HART JOINS LOOP AS CFO

LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET ON THURSDAY, JANUARY 15, 2026.

MONTRÉAL, QUEBEC / ACCESS Newswire / January 14, 2026 / Loop Industries, Inc. (Nasdaq:LOOP) (the "Company," "Loop," "we," "us," or "our"), today reported its consolidated financial results for the third quarter of fiscal year 2026 and provided status updates on its development projects.

Infinite Loop™ India

• Offtake agreement with Nike for India JV: In November 2025, Loop announced the execution of a multi-year offtake agreement with Nike, Inc. ("Nike") for the sale of Twist™ polyester from our JV with Ester Industries Limited ("ELITe"). As the global leader in athletic footwear and apparel, Nike will be an anchor customer for this facility as we continue to advance negotiations with additional apparel and CPG brands to secure further offtake agreements.

• Detailed Engineering contract awarded for India JV: In December 2025, ELITe awarded the detailed engineering contract to Toyo Engineering India Private Limited. Toyo's work will be the final phase of the engineering that lasts through the completion of the construction of the plant.

• Project debt financing for India JV: The debt syndication process for financing the construction of ELITe's India facility is progressing, and term sheets have been received from international lenders.

European Partnership with Reed Societe Generale Group

• Status update: Loop and Reed Societe Generale Group are at the final stage of selecting a location for the first Infinite Loop™ facility in Europe. After the site is secured, the engineering phase will begin along with work on the modular construction solution to enhance project profitability and shorten the construction timeline. Loop expects to generate revenues from providing these engineering services.

Management Update

• Loop appointed Spencer Hart as Chief Financial Officer effective January 15, 2026. Mr. Hart has served as a member of Loop's Board of Directors since February 2025 and will remain on the board. With over 30 years of experience in investment banking and capital markets, Mr. Hart will help lead the financing discussions and be instrumental as Loop continues to scale its proprietary technology and expand its commercial footprint globally.

Financial highlights

Cash operating expenses* for the quarter were $2.2 million, reflecting a year-over-year decrease of $1.1 million. At the end of the third quarter, we had total available liquidity of $7.7 million. Our focus is on raising the remaining financing required for our equity contribution to ELITe and for operating expenses until the start-up of the Indian facility. We are engaged with multiple parties regarding a financing to fund our investment in ELITe. This capital, along with anticipated engineering revenues derived from the India and Europe projects, is expected to fund Loop's ongoing operations until its first facility becomes operational.

*Cash operating expenses include research & development and general & administrative expenses, less stock-based compensation expenses.

CEO Comment

"Infinite Loop India project continues to make progress on multiple fronts. Having previously secured the site in the Gujarat Province, we have achieved several milestones necessary to advance the facility to the construction phase. On the commercial front, we secured our foundational anchor customer through a major off-take agreement with Nike. On the engineering front, our engagement with Toyo will provide the final engineering work needed for the construction of the India facility. We are also continuing to make headway in raising Loop equity and in securing project debt financing at ELITe," said Daniel Solomita, Founder and CEO of Loop. "The European project is progressing, and we are in the final stages of site selection. Once the site is secured, we anticipate that Loop will begin earning revenue from engineering services and receive milestone licensing payments as per the agreement with Reed Societe Generale Group."

Corporate Update Call

Senior Management of Loop will host a corporate update call, followed by a question-and-answer session, which can be accessed via the dial-in numbers below.

Date: Thursday, January 15, 2026
Time: 8:45 am Eastern Time

Participant joining details (by Telephone):

Joining by Telephone:

United States (Local): +1 646 844 6383
United States (Toll-Free): +1 833 470 1428
Access Code: 285041

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Registration Link: https://www.netroadshow.com/events/login/LE9zwo3j9C25QsPNHZdxNqACkPcpWGEdOB1

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Results of Operations
All monetary amounts are in thousands of U.S. dollars unless otherwise specified.

The following table summarizes our operating results for the three-month periods ended November 30, 2025 and 2024, in thousands of U.S. Dollars.

Third Quarter Ended November 30, 2025

Revenues

Revenues for the three-month period ended November 30, 2025, increased$34 to $86, as compared to $52 for the same period in 2024. The revenues of $86 for the three-month period ended November 30, 2025 resulted from engineering services provided to the India JV. The revenues of $52 for the three-month period ended November 30, 2024 resulted from sales of Loop™ PET resin.

Research and Development

Research and development expense for the three-month period ended November 30, 2025, decreased$410 to $967, as compared to $1,377 for the same period in 2024. The decrease was primarily attributable to a $68 decrease in external engineering expenses for design work for our Infinite Loop™ manufacturing process, and a $117 decrease in employee compensation expenses.

General and administrative expenses

General and administrative expenses for the three-month period ended November 30, 2025, decreased$648 to $1,500, as compared to $2,148 for the same period in 2024. The decrease was primarily attributable to a $438decrease in professional fees, which was mainly attributable to legal costs related to our partnerships with Reed Societe Generale Group and Ester incurred in the three-month period ended November 30, 2024, and a $158decrease in employee compensation.

Interest and other financial expenses

Interest and other financial expenses increased by $326 for the three-month period ended November 30, 2025. This increase is mainly attributable to the accrued PIK dividend on the Series B Convertible Preferred Stock issued to RCE recorded as an interest expense for $360 in the three-month period ended November 30, 2025 (2024 - nil).

Net Loss

The net loss for the three-month period ended November 30, 2025, decreased$8,968 to $2,944, as compared to $11,912 for the same period in 2024. This decrease was primarily due to the decrease of $410 in research and development expenses, a decrease of $648 in general and administrative expenses, and a decrease of $8,460 in the prior year quarter due to an impairment charge for machinery and equipment. These decreases were partially offset by the $326 increase in interest and other financial expenses.

Nine Months Ended November 30, 2025

The following table summarizes our operating results for the nine-month periods ended November 30, 2025 and 2024, in thousands of U.S. Dollars.