WESTPORT FUEL SYSTEMS INC.

Westport Fuel Systems Inc. announced the closing of a registered direct offering and concurrent private placement, raising approximately $10 million in gross proceeds. The offering included the sale of common shares and pre-funded warrants, along with private placement warrants. The company intends to use the net proceeds for working capital and general corporate purposes. An additional $10 million could be raised if the private placement warrants are fully exercised.

Westport Fuel Systems Inc. announced a definitive securities purchase agreement for a registered direct offering and a concurrent private placement. The company will issue 4,854,369 common shares (or pre-funded warrants) and warrants to purchase an equal number of common shares at a combined effective price of US$2.06. The offering is expected to generate gross proceeds of approximately US$10 million, with an additional US$10 million possible from full warrant exercise. Net proceeds will be used for working capital and general corporate purposes.

Westport Fuel Systems Inc. announced that its joint venture, Cespira, in partnership with Volvo Group, has signed a development agreement. This agreement aims to finalize the integration and commercialization of Cespira’s HPDI™ fuel system technology, enabling Volvo Group’s 13-litre engine to operate on hydrogen. Volvo trucks are currently undergoing on-road testing, with a European certified commercial launch targeted before 2030. The HPDI technology is designed to deliver diesel-equivalent performance using hydrogen, offering a lower-carbon solution for heavy-duty transport.

Westport Fuel Systems Inc. will hold its Annual General and Special Meeting on June 30, 2026, where shareholders will vote on a special resolution to change the company's name. The company also reported significant strategic advancements in 2025, including the divestiture of its Light-Duty Segment and the expansion of its Cespira Joint Venture. Additionally, Westport announced leadership transitions, with a new Board Chair and the appointment of Elizabeth Owens as CFO in August 2025. These actions support transparent governance and strategic focus.

Westport Fuel Systems Inc. announced that it will host its 2026 Annual General and Special Meeting virtually on June 30, 2026, at 10:00 a.m. PT (1:00 p.m. ET). The company encourages shareholders to vote in advance using the voting instruction form or proxy form provided with the Meeting materials. Registered shareholders and duly appointed proxyholders can attend the meeting online to participate, vote, or submit questions during the live webcast.

Westport Fuel Systems Inc. announced it will host its 2026 Annual General and Special Meeting (AGM/EGM) virtually on June 30, 2026, at 10:00 a.m. PT (1:00 p.m. ET). Shareholders are encouraged to vote in advance using provided materials. Registered shareholders and proxyholders can attend online to participate, vote, or submit questions during the live webcast.

Westport Fuel Systems Inc. announced a change in its auditor. KPMG LLP will not be reappointed for the year ending December 31, 2026, and Deloitte LLP has been appointed as the successor auditor, pending shareholder approval. The company's Audit Committee and board of directors approved this change on May 8, 2026, and confirmed that KPMG's previous reports contained no modified opinions and there were no "reportable events."

Westport Fuel Systems reported a net loss from continuing operations of $5.7 million for Q1 2026, with revenue decreasing by 69% to $2.3 million. The company raised substantial doubt about its ability to continue as a going concern for the next twelve months due to insufficient cash and cash equivalents to fund operations. This follows a cybersecurity incident in March 2026 which caused a delay in annual filings, though internal controls were deemed not deficient.

Westport Fuel Systems reported Q1 2026 financial results with a significant decrease in consolidated revenue to $2.3 million (down 69%) and an increased net loss of $5.7 million. Despite this, its Cespira joint venture saw revenue grow 33% to $22.2 million, and the High-Pressure Controls segment revenue increased by 21% to $2.3 million. The company, however, raised substantial doubt about its ability to continue as a going concern for the next twelve months due to insufficient projected cash and cash equivalents.

Westport Fuel Systems Inc. reported Q1 2026 financial results, highlighting a significant going concern doubt as current cash and equivalents are insufficient for the next twelve months. Consolidated revenue decreased to $2.3 million, down 69% year-over-year, primarily due to the planned end of a transitional service agreement. However, its Cespira joint venture saw a 33% revenue increase to $22.2 million and a 65% reduction in net loss, driven by strong demand for LNG HPDI trucks. The company is evaluating options to improve liquidity.