First-Half 2026 and Recent Highlights:

  • Raised $10 million through the Company's equity line facility, substantially strengthening the balance sheet
  • LayerBio advancing the operational and clinical preparations required to commence the planned Phase 2 clinical trial of OcuRing™-K
  • Reported expanded preclinical results for PRF-110, demonstrating sustained 72-hour analgesic activity comparable to an approved, commercially available extended-release benchmark
  • DeepSolar validated its Predict™ platform with real-world European market data, expanded the platform with Battery-to-Revenue Intelligence, joined the NVIDIA Connect program and will showcase GridFeed™ at Energy Trading Week Europe 2026

Dear Fellow Shareholders,

As we move through the second half of 2026, I am excited to share an update on PRF Technologies' progress and the strategic priorities that are expected to guide the Company in the months ahead. Simply put: PRF today is stronger, better capitalized and moving with more momentum than it was just six months ago.

During the first half of 2026, we achieved a transformative milestone by significantly strengthening our financial position. We believe that this accomplishment provides PRF with increased strategic flexibility and positions us to execute our long-term growth strategy from a position of strength.

Strengthening Our Financial Foundation

On May 28, 2026, PRF raised $10 million through its equity line facility. This financing substantially strengthened our balance sheet and provides the resources necessary to accelerate our existing businesses while pursuing additional strategic growth opportunities.

We believe that our strengthened financial position allows us to focus on disciplined execution while maintaining the flexibility to capitalize on attractive opportunities as they arise.

Executing a Disciplined Growth Strategy

Our strategy remains centered on creating long-term shareholder value through disciplined capital allocation focused on the development of innovative technology businesses.

While we remain committed to advancing our existing biotechnology and renewable energy platforms, we are also evaluating strategic opportunities that we believe have the potential to accelerate growth and enhance shareholder value. These opportunities may include strategic partnerships, licensing arrangements, investments and selective acquisitions of complementary technologies or companies that align with our long-term vision.

We intend to pursue such opportunities with financial discipline and only where they strengthen our strategic position and have the potential to create sustainable long-term value for our shareholders.

Advancing Our Biotechnology Business

Our biotechnology majority-owned subsidiary, LayerBio, Inc., continues to make meaningful progress.

LayerBio is rapidly advancing the operational and clinical preparations required to commence the planned Phase 2 clinical trial of OcuRing™-K toward potential commercialization. We believe that OcuRing-K represents a paradigm shift in ocular drug delivery, placing a sustained-release anti-inflammatory implant directly on the intraocular lens during routine cataract surgery. — one of the most commonly performed surgical procedures in the world — with the potential to make recovery far more comfortable for patients and to deliver medication substantially more effectively than eye drops. We are actively evaluating additional opportunities of this kind to expand our portfolio.

Our lead product candidate, PRF-110, continues to advance. In June 2026, we reported expanded preclinical results from a head-to-head study in which PRF-110 demonstrated sustained 72-hour analgesic activity comparable to an approved, commercially available extended-release benchmark, along with slower systemic absorption and enhanced retention at the surgical site. We believe these results further validate our proprietary extended-release delivery platform and its potential to provide effective, opioid-sparing relief from post-operative pain.

Expanding Our Renewable Energy Platform

Our renewable energy business continues to advance the development of GridFeed™ and DeepSolar Predict™, our AI-powered technologies designed to improve renewable energy forecasting, optimize market participation and maximize revenue opportunities for renewable energy asset owners.

The momentum here is tangible. In recent weeks alone, DeepSolar successfully validated the Predict platform using real-world European market data, expanded the platform with Battery-to-Revenue Intelligence to address energy storage assets, joined the NVIDIA Connect program and announced that it will showcase GridFeed at Energy Trading Week Europe 2026, one of Europe's premier energy trading gatherings. We remain focused on enhancing our technology platform, expanding commercial applications and positioning these solutions for broader market adoption.

Looking Ahead

PRF Technologies enters the second half of 2026 with a substantially stronger financial position, a diversified portfolio of innovative technology businesses, real commercial momentum and increased strategic flexibility — a powerful foundation for long-term value creation.

Our priorities are clear: execute the upcoming clinical milestones at LayerBio, continue advancing our renewable energy technologies, evaluate disciplined strategic growth opportunities and deploy capital responsibly to maximize long-term shareholder value.

The Board of Directors and management remain committed to disciplined execution, prudent capital allocation and transparent communication with our shareholders as we continue building a stronger and more valuable company.

On behalf of the Board of Directors and our entire team, I would like to thank our shareholders for your continued confidence, trust and support.

We look forward to updating you on our continued progress in the months ahead.

Sincerely,

Efraim Cohen-Arazi

Interim Chief Executive Officer