CRANU · Crane Harbor Acquisition Corp. II · Investor Relations

Xanadu to become the first publicly listed pure play photonic quantum computing company and will begin trading on the Nasdaq and Toronto Stock Exchange under the ticker symbol “XNDU” on March 27, 2026 TORONTO, March 26, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Limited (“Xanadu” or the “Company”), a leading photonic quantum computing company, today announced the successful completion of its previously announced business combination with Crane Harbor Acquisition Corp. (Nasdaq: CHAC), a publicly traded special purpose acquisition company, and Xanadu Quantum Technologies Inc. (“Old Xanadu”) and US$275 million PIPE financing (the “PIPE Financing”). The Class B Subordinate Voting Shares of Xanadu are expected to trade on Nasdaq and the Toronto Stock Exchange under the ticker symbol “XNDU” starting on March 27, 2026. Xanadu is positioned to be the first publicly listed pure play photonic quantum computing company, with a focus on building scalable, networked systems and enabling

• Xanadu to Become the First Publicly Listed Photonic Quantum Technology Company • Expected to Begin Trading on the Nasdaq and TSX on March 27, 2026 Under Ticker XNDU • Gross Proceeds of Approximately USD$302 Million, In Addition to Previously Announced Negotiations with the Government of Canada and Ontario for an Up to CAD$390 Million Investment, Sets Company Up to Execute Against Technical Roadmap TORONTO, March 19, 2026 (GLOBE NEWSWIRE) - Crane Harbor Acquisition Corp. (“Crane Harbor”) (Nasdaq: CHAC) today announced that its shareholders approved all proposals necessary to complete the previously announced business combination with Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, at Crane Harbor’s extraordinary general meeting of shareholders. The approval represents an important milestone toward completing the transaction and advancing Xanadu’s scalable photonic quantum technology platform. The closing of the business

TORONTO, March 18, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, has today announced a novel quantum computational algorithm to accelerate the discovery and analysis of next-generation battery materials. Published as a pre-print article, Xanadu’s new research, in collaboration with the University of Toronto and the National Research Council of Canada (NRC) as part of the NRC’s Applied Quantum Computing Challenge program, demonstrates how fault-tolerant quantum computers can solve critical challenges to enable the practical application of higher-capacity lithium-excess cathode active materials for lithium batteries. Resonant Inelastic X-ray scattering (RIXS) is a powerful tool for characterizing how high-capacity batteries degrade over time, a key component for evaluating their predicted performance. However, the lack of accurate simulations of RIXS spectra limits its usefulness for many practical use cases. This

The collaboration will explore the development of hybrid quantum–classical infrastructure, positioning Canada at the frontier of next-generation computing TORONTO, March 16, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“ Xanadu ”), a global leader in photonic quantum computing, and TELUS, a world-leading communications technology company, today announced plans to collaborate on advancing sovereign quantum computing infrastructure in Canada, and to exploring the development of a quantum data centre integrated with TELUS’ secure, Canadian-controlled, sovereign infrastructure. Under a newly-signed MOU, the two Canadian technology leaders will explore how quantum processors can be combined with high-performance computing systems to create sovereign hybrid quantum–classical computing infrastructure in Canada – one of the first of its kind in the world. By bringing together Xanadu’s expertise in photonic quantum computing with TELUS’ sovereign AI expertise, advanced data centre

TORONTO, March 11, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, today announced that it has entered negotiations with the Government of Canada and the Government of Ontario for support for Project OPTIMISM, an initiative to establish advanced semiconductor and photonic manufacturing capabilities for the quantum technology supply chain in Canada. Subject to due diligence and the execution of definitive agreements, up to $390 million in combined government support is under consideration. Under Project OPTIMISM, Xanadu would aim to establish new domestic capabilities for heterogeneous integration, photonic integrated circuit packaging, wafer-level semiconductor test and measurement, and quantum module assembly. By building this infrastructure in Canada, the initiative is expected to significantly advance Xanadu’s roadmap toward utility-scale quantum computing and future quantum data-center infrastructure, while

TORONTO and DAEJEON, South Korea, March 11, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, has partnered with the Electronics and Telecommunications Research Institute (ETRI), South Korea’s premier government-funded research institution, on a new two-year collaborative research project. The project is supported by a major grant from the South Korean government to advance the nation’s quantum ecosystem. Building on the two organizations’ successful history of collaboration in quantum machine learning, the new research partnership focuses on advancing the software infrastructure required to study and execute complex algorithms for fault-tolerant quantum computing (FTQC). The collaboration aims to equip researchers with tools to identify algorithmic bottlenecks and optimize resource usage, a critical step toward enabling distributed quantum computing. Specifically, the project seeks to advance the resource estimation

TORONTO, March 10, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, today announced a major step forward in bringing quantum computing closer to real-world aerospace and engineering applications by leveraging AMD HPC and AI technologies. By combining Xanadu’s PennyLane quantum software with AMD high-performance computing solutions on the AMD DevCloud, Xanadu successfully demonstrated how advanced aerospace simulations can be prepared and run in a hybrid quantum-classical environment. Aerospace engineers rely on computational fluid dynamics (CFD) simulations to optimize design and enhance aircraft efficiency. Xanadu, powered by the AMD DevCloud, has successfully demonstrated CFD simulations within a hybrid quantum-classical program, showcasing the significant potential of quantum computing for the industry. The work centered on the compilation and execution of a CFD model with 256x256 matrix elements. This hybrid

Quantum platform designed to accelerate development of safer, longer-lasting next-generation batteries Builds on growing U.S. and Canadian government momentum, with additional large-scale opportunities in the pipeline SEATTLE, March 06, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, announced today that it has been selected to receive $2,027,507 in funding from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E). The funding is part of the Quantum Computing for Computational Chemistry (QC 3 ) program that seeks to develop and apply quantum algorithms to accelerate simulations of chemistry and materials science to advance commercial energy applications ranging from superconducting power lines, advanced batteries, engineered rare earth magnets, and breakthrough catalytic systems. “Xanadu is proud to have been selected by ARPA-E to develop a quantum simulation platform for

NEW YORK, March 05, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, yesterday hosted its 2026 Analyst Day at the Nasdaq MarketSite in New York, in advance of the anticipated closing of its previously announced business combination with Crane Harbor Acquisition Corp. (“Crane Harbor”). The event was well attended, reflecting strong engagement from the financial community as Xanadu advances toward becoming a publicly listed company. “Our Analyst Day was an important opportunity to articulate the strength of our technical roadmap and our path toward commercialization,” said Christian Weedbrook, Founder and Chief Executive Officer of Xanadu. “We believe our photonic approach to quantum computing, combined with our full-stack platform and capital position, differentiates Xanadu as we advance toward becoming a publicly listed company.” Highlights from Analyst Day Included: Expected to be the first pure-play, publicly

NEW YORK, March 04, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today is hosting its 2026 Analyst Day at the Nasdaq MarketSite in New York, in advance of the anticipated closing of its previously announced business combination with Crane Harbor Acquisition Corp. (“Crane Harbor”) (Nasdaq: CHAC). “We are encouraged by the level of interest from the financial community as we host our Analyst Day today,” said Christian Weedbrook, Founder and Chief Executive Officer of Xanadu. “As we move closer to becoming a publicly listed company, we recognize that our photonic approach to quantum computing represents a new and differentiated opportunity in the public markets. With scalable networking demonstrated and peer reviewed, and a path toward commercialization, we believe Xanadu is ready for this next chapter.” Key Themes to Be Discussed at Analyst Day During the event, Xanadu’s leadership team will outline its investment

TORONTO, March 02, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a global leader in photonic quantum computing, and Crane Harbor Acquisition Corp. (Nasdaq: CHAC) (“Crane Harbor”), a publicly traded special purpose acquisition company, today announced that the U.S. Securities and Exchange Commission (the “SEC”) has declared effective the companies’ joint registration statement on Form F-4 in connection with their previously announced proposed business combination. This marks a significant milestone in the transaction process and moves Xanadu substantially closer to becoming a publicly traded company. The business combination is expected to close in the first quarter of 2026, subject to the satisfaction of customary closing conditions, including the approval by Crane Harbor and Xanadu shareholders and the listing of the shares of the combined company on the Toronto Stock Exchange and the Nasdaq Stock Market, which is subject to stock exchange approval. Upon

TORONTO, Feb. 25, 2026 (GLOBE NEWSWIRE) - Xanadu (Xanadu Quantum Technologies Inc.), a world leader in photonic quantum computing, in partnership with Mitsubishi Chemical, a major Japanese chemical manufacturer, has announced the release of a new paper detailing a novel quantum simulation technique for semiconductor chip research and development. The pre-print research paper provides a scalable technique for simulating quantum processes involved in extreme ultraviolet (EUV) lithography, a wafer patterning technique critical for developing the most advanced semiconductor chips. EUV lithography is one of the leading tools used in the manufacturing of advanced semiconductor chips. However, the process is often plagued by a complex phenomenon called radiation-induced blurring that reduces the effectiveness of the resulting chip. Key steps in this phenomenon are highly quantum in nature and are difficult to simulate using existing classical computing approaches. This paper proposes a suite

TORONTO and MUNICH, Feb. 25, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today announced that it has successfully integrated PennyLane and its Catalyst compiler with the Munich Quantum Toolkit (MQT). MQT is developed by teams at the Chair for Design Automation of the Technical University of Munich (TUM) and the Munich Quantum Software Company (MQSC) and enables an interoperable and scalable quantum software stack, based on mature classical compilation technology. This collaboration creates more accessible quantum software by connecting a user-friendly Python interface through Xanadu’s PennyLane to high-performance code that is the foundation of Catalyst and MQT . As quantum hardware scales, quantum programs are becoming exponentially more complex, and compiling these larger programs efficiently is expected to become a major challenge in the quantum computing stack. Together, PennyLane, Catalyst, and MQT’s Core

New board nominees Glenda Dorchak, Eliot Pence, Michelle Reynolds, and The Hon. Heidi Shyu, in addition to Christian Weedbrook and Bill Fradin, bring deep experience across global corporate leadership, public markets and finance, operations, and defense and technology. TORONTO, Feb. 23, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, and Crane Harbor Acquisition Corp. (“Crane Harbor”) (Nasdaq: CHAC), a publicly traded special purpose acquisition company, today announced the proposed nomination of: Glenda Dorchak , former public company Chief Executive Officer and Chairman of several companies and current board member of GlobalFoundries and Cerebras; Eliot Pence , Founder of Dominion Dynamics and former global growth leader at Anduril Industries; Michelle Reynolds , Chief Accounting Officer & Treasurer, Vice President at Reddit, Inc.; and The Honorable Heidi Shyu , former U.S. Under Secretary of Defense for

TORONTO, Feb. 20, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today announced that it will host an Analyst Day on Wednesday, March 4, 2026 at 9:00 am ET . Christian Weedbrook, Founder and Chief Executive Officer; Michael Trzupek, Chief Financial Officer; and Rafal Janik, Chief Operating Officer; will provide commentary on Xanadu’s current position, corporate strategy, and approach to scaling its photonic quantum platform. The live webcast as well as the post-event replay will be available via the webcast link provided below. A copy of the presentation will be available on the day of the event on Crane Harbor Acquisition Corp’s website under Events & Presentations. Xanadu Analyst Day Date: March 4, 2026 Time: 9:00 am ET Webcast link: https://app.webinar.net/9PwE0wg0Dod As previously announced on November 3, 2025, Xanadu entered into a definitive business combination agreement with Crane Harbor Acquisition Corp.

TORONTO, Feb. 13, 2026 (GLOBE NEWSWIRE) - Xanadu (Xanadu Quantum Technologies Inc.), a world leader in photonic quantum computing, today announced the publication of a quantum algorithm that significantly reduces the resource requirements to simulate photochemical reactions on a fault-tolerant quantum computer. Published as a pre-print research paper, " Efficient Simulation of Pre-Born-Oppenheimer Dynamics on a Quantum Computer ," this work provides a scalable path for investigating phenomena that are important for many applications, such as photolithography, sustainable energy, and atmospheric chemistry. Most algorithms for chemistry rely on the Born-Oppenheimer approximation, which assumes that nuclear and electronic motions can be treated separately. While effective for many systems, this approximation fails in crucial scenarios where electronic states are closely coupled, such as in photochemical reactions. These reactions are critical in industries like energy, aerospace, and

Public filing of Form F-4 represents important milestone in transaction towards Xanadu becoming first and only publicly traded pure-play photonic quantum computing company. The proposed transaction, which is expected to close in the first quarter of 2026, supports Xanadu’s photonic quantum computing approach, its leading PennyLane software platform, and its efforts towards building a commercially viable fault-tolerant quantum computer. TORONTO, Jan. 28, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, and Crane Harbor Acquisition Corp. (“Crane Harbor”) (Nasdaq: CHAC), a publicly traded special purpose acquisition company, today announced the public filing of their joint registration statement on Form F-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”) in connection with their previously announced $3.1 billion proposed business combination. The public

Companies to develop customized solutions addressing optical loss and large-volume manufacturability of key components in photonic quantum computing TORONTO and NEWTON, N.J., Jan. 13, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc . (“Xanadu”), a leading photonic quantum computing company, and Thorlabs , a globally-renowned designer and manufacturer of photonics equipment, have partnered to develop customized optical fiber components essential for realizing large-scale photonic quantum computing. The collaboration will combine Xanadu’s photonic quantum computing hardware expertise and Thorlabs’ advanced optical component manufacturing capabilities to help address critical challenges in scaling photonic quantum computing systems. Together, the companies can accelerate the production of novel component designs from proof-of-concept to high-volume manufacturing for Xanadu’s scalable hardware. The goal of this collaboration is to develop photonic components that address phase and

TORONTO, Jan. 12, 2026 (GLOBE NEWSWIRE) - Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today announced the addition of two strategic leaders to their executive team: Michael Trzupek as Chief Financial Officer (CFO) and Natalie Wilmore as Chief Legal Officer (CLO). These executive appointments strengthen Xanadu’s leadership as the company executes on its mission to build quantum computers that are useful and available to people everywhere. “Michael and Natalie are outstanding additions to our leadership team,” said Xanadu Founder and CEO Christian Weedbrook. “As we continue towards our vision of building a quantum data center, their experience will strengthen our financial strategy and help ensure we grow with discipline and integrity.” Michael Trzupek, Chief Financial Officer Michael Trzupek is a seasoned financial and operating executive with a track record of scaling organizations, strengthening balance sheets, and leading complex