Loop Industries Reports First Quarter Fiscal 2027 Results and Provides Update on Progress Towards Commercialization

• GLOBAL APPAREL BRAND SIGNS LOI FOR MULTI YEAR OFFTAKE AGREEMENT FOR INFINITE LOOP
  INDIA

• CONTINUED PROGRESS ON INDIA AND EUROPEAN PROJECT
  
  LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET ON THURSDAY, JULY 15, 2026

MONTREAL, QC / ACCESS Newswire / July 14, 2026 / Loop Industries, Inc. (NASDAQ:LOOP) (the "Company," "Loop," "we," "us," or "our"), today reported its consolidated financial results for the first quarter of fiscal year 2027 and provided status updates on its development projects.

Infinite Loop™ India

• Strategic India JV offtake LOI: In June 2026, Loop executed a Letter of Intent (LOI) for an initial multi-year offtake agreement with a major global apparel company. This LOI forms the framework for an ongoing collaboration targeting up to 15,000 metric tons annually of Loop's proprietary PET fiber-grade resin.

• Engineering continuing for India JV: Toyo Engineering India Private Limited is steadily advancing detailed engineering work for the India facility. Simultaneously, Loop's internal engineering team continues to meet project milestones, generating engineering services revenues for the Company.

• India JV project debt financing: The debt syndication process to fund construction of the India JV facility has advanced to the technology due diligence phase, representing an important step towards securing project capital.

European Partnership with Reed Societe Generale Group

• Status update: As previously announced, Infinite Loop Europe, our European JV with Reed Societe Generale Group which purchased a license to build a European facility using Loop's technology, has selected BASF Industriepark Lausitz in Schwarzheide, Germany, as the site for its first facility. This location provides a number of benefits including world class industrial infrastructure and a supportive regulatory environment aimed at strengthening the EU plastics recycling sector. The project is moving into the engineering and permitting phase which is expected to generate engineering services revenue for Loop in this fiscal year.

Financial highlights

Cash operating expenses* for the quarter were $1.6 million, reflecting a year-over-year decrease of $1.0 million. At the end of the third quarter, we had total available liquidity of $3.6 million. The Company remains actively focused on securing the necessary capital to fund its equity contribution for the ELITe India facility as well as ongoing pre-operational expenses. The Company is pursuing a variety of funding options including non-dilutive and strategic alternatives. These capital raising initiatives, along with anticipated engineering revenues derived from the India and Europe projects, are expected to fund Loop's ongoing operations through commercial start-up.

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

CEO Comment

"Our commercial momentum is continuing as we engage in constructive discussions with leading global apparel and consumer brands eager to secure Loop's virgin-quality polyester," said Daniel Solomita, Founder and CEO of Loop Industries. "This traction is demonstrated by our recent LOI with a major global apparel brand. Although long-term agreements fall outside their standard procurement practices, they executed this LOI to position themselves to secure a portion of our volume and help work towards their stated objectives of reducing their carbon footprint by increasing the recycled content in their products. Concurrently, our engineering teams are driving excellent progress in India and are fully prepared to deploy that expertise as we begin work on our European development."

Corporate Update Call

Senior Management of Loop will host a corporate update call, followed by a question-and-answer session, to discuss the Company's first quarter fiscal 2027 results and provide an update on recent commercial, strategic and project development activities.

Date: Wednesday, July 15, 2026

Time: 8:45 am Eastern Time

Participant Dial-In Numbers:

United States/International (Toll): +1 646 307-1963

United States & Canada (Toll-Free): +1 800 715-9871

Canada (Toronto): +1 647 932-3411

Conference ID: 39227

Participants are encouraged to pre-register using the link below to avoid wait time and receive a unique PIN for expedited access to the call:

Registration Link: https://registrations.events/direct/Q4I3922772

Additional international dial-in numbers are available through the registration portal using Conference ID 39227

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 May 31, 2026 and 2025, in thousands of U.S. Dollars.

First Quarter Ended May 31, 2026

Revenues

Revenues for the three-month period ended May 31, 2026, decreased $73 to $179, as compared to $252 for the same period in 2025. The revenues of $179 for the three-month period ended May 31, 2026 resulted from engineering services provided to the India JV. The revenues of $8 for the three-month period ended May 31, 2025 resulted from engineering services provided to the India JV for $244 and sales of Loop™ PET resin for $8.

Cost of Services

Cost of Services for the three-month period ended May 31, 2026 increased $65 to $179 compared to $114 for the same period in 2026.

Research and Development

Research and development expense for the three-month period ended May 31, 2026, decreased $297 to $962, as compared to $1,259 for the same period in 2025. The decrease was primarily attributable to a $341 decrease in employee compensation expenses, a $59 decrease in other, mainly legal fees, a $49 decrease in plant and laboratory expenses, partially offset by a $146 increase in stock compensation.

General and administrative expenses

General and administrative expenses for the three-month period ended May 31, 2026, decreased $75 to $1,574, as compared to $1,649 for the same period in 2025. The decrease was primarily attributable to a $298 decrease in insurance expenses, a $181 decrease in employee compensation, a $117 decrease in professional fees, partially offset by a $458 increase in employee compensation and $63 increase in other.

Interest and other financial expenses

Interest and other financial expenses increased by $17 for the three-month period ended May 31, 2026.

Net Loss

The net loss for the three-month period ended May 31, 2026, decreased $61 to $3,385, as compared to $3,446 for the same period in 2025. This decrease was primarily due to the decrease of $297 in research and development expenses, a decrease of $75 in general and administrative expenses. These decreases were partially offset by the decrease of $95 in interest income, increase of $65 in cost of services, $17 increase in interest and other financial expenses.

Loop Industries, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)

Loop Industries, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)