Enablence Technologies Names Brian Siegel Interim CFO

Rhea-AI Summary

Enablence Technologies (OTC:ENAFF) announced that CFO Stan Besko resigned effective January 1, and Brian Siegel was appointed Interim CFO effective immediately.

According to the company, Siegel brings >25 years of finance, audit and M&A experience with roles at CBIZ, EY and Rothstein Kass; management thanked Besko for his service.

Positive

• Interim CFO Brian Siegel appointed effective immediately
• 25+ years of finance, audit and M&A experience for Siegel

Negative

• CFO Stan Besko resigned effective January 1
• Permanent CFO not announced; role currently interim

Ottawa, Ontario--(Newsfile Corp. - February 18, 2026) - Enablence Technologies Inc. (TSXV: ENA), a leading supplier of planar lightwave circuit (PLC) optical chips for datacom, telecom, AI, and advanced vision applications, announced today that Stan Besko, Chief Financial Officer of the Company, has tendered his resignation with effect from January 1st, in order to pursue other opportunities. The Company would like to thank Mr. Besko for his financial leadership and service.

Mr. Brian Siegel has been appointed as the new Interim Chief Financial Officer (CFO) of the Company effective immediately. Mr. Siegel is a seasoned finance professional with more than 25 years of experience across public accounting, audit leadership, and complex technical accounting. He has held senior roles at firms, including CBIZ, EY, and Rothstein Kass, advising companies on reporting, M&A, and complex accounting matters.

"I would like to take this opportunity to thank Stan Besko for his leadership in helping us to build a strong foundation from which our growth plan is being successfully executed," noted Todd Haugen, CEO, Enablence Technologies. "I am also pleased to welcome Brian Siegel to Enablence as new interim CFO. Brian brings a wealth of experience to the role. He is an experienced financial leader with a strong background in high-growth technology, capital markets, and M&A."

About Enablence Technologies Inc.
Enablence is a publicly traded company listed on the TSX Venture Exchange (TSXV: ENA) that designs, markets and sells optical chips and sub systems, primarily in the form of planar lightwave circuits (PLC), on silicon-based chips for datacom, telecom, automotive and artificial intelligence (AI) applications. Enablence products serve a global customer base, primarily focused today on data center and other rapidly growing end markets. Enablence also works with customers that have emerging market uses for its technology, including medical devices, automotive LiDAR, and virtual and augmented reality headsets. In select strategic circumstances, the Company also uses its proprietary, non-captive fabrication plant in Fremont, California to manufacture chips designed by third party customers. For more information, visit: www.enablence.com.

For more information, contact:

Todd Haugen, CEO, Enablence Technologies Inc.
todd.haugen@enablence.com

Ali Mahdavi
Capital Markets & Investor Relations
am@spinnakercmi.com

Alison Parnell, Media and Analysts, Hill and Kincaid Marketing & PR
press@hillandkincaid.com

Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. These statements are based on current expectations and assumptions, including the impact of the Term Loan, the Vortex Loan Amendment and the Pinnacle I Loan Amendment, the ability of the Company to repay any indebtedness, the ability of the Company to continue its operations as contemplated, the use of proceeds from the Term Loan and the Pinnacle I Loan Amendment, and the receipt of final approval from the TSX Venture Exchange for the Term Loan, Vortex Loan Amendment and the Pinnacle I Loan Amendment. These statements are not guarantees of performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks, including the ability of the Company to comply with covenants under the Loan Agreement and all other loan agreements and facilities the Company and its subsidiaries are subject to, risks relating to the Company's operations, business and economic conditions generally, the terms and availability of future financing and the ability of the Company to repay any indebtedness in accordance with the terms thereof (or at all). Although the Company believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward- looking statements are made, are reasonable based on the information available as of the date hereof, there can be no assurance that such expectations or assumptions will prove to be correct. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained herein as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company's operations are outlined in the Company's continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under Enablence's issuer profile. Enablence does not intend and disclaims any obligation, except as required by law, to update or revise any forward- looking statements, whether because of new information, future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained herein.

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Source: Enablence Technologies Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284446

FAQ

Who is the new interim CFO of Enablence Technologies (ENAFF)?

The new interim CFO is Brian Siegel, appointed effective immediately. According to the company, Siegel has more than 25 years of experience in public accounting, audit leadership, and complex technical accounting with firms including CBIZ, EY, and Rothstein Kass.

When did Enablence Technologies (ENAFF) announce the CFO resignation?

Enablence disclosed the CFO resignation was effective on January 1. According to the company, Stan Besko tendered his resignation effective January 1 to pursue other opportunities and was thanked for his financial leadership.

What experience does Brian Siegel bring to Enablence (ENAFF) as interim CFO?

Brian Siegel brings >15 years (actually 25+) of finance, audit and M&A experience to the role. According to the company, he has held senior positions advising on reporting, M&A and complex accounting at CBIZ, EY, and Rothstein Kass.

Is the CFO position at Enablence (ENAFF) permanent after this announcement?

No, the company appointed an interim CFO and has not announced a permanent successor. According to the company, Brian Siegel will serve as interim CFO effective immediately, with no permanent appointment disclosed.

Could the CFO change affect Enablence Technologies' (ENAFF) financial reporting?

A CFO transition can affect financial leadership continuity in the near term. According to the company, management thanked the departing CFO and appointed an experienced interim CFO to maintain reporting and accounting oversight.

Where did Enablence (ENAFF) say Brian Siegel previously worked?

The company cited prior senior roles at CBIZ, EY, and Rothstein Kass. According to the company, Siegel advised companies on reporting, M&A, and complex accounting matters during his career.