DYADIC ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS AND HIGHLIGHTS RECENT COMPANY PROGRESS Received initial purchase orders for recombinant bovine transferrin from customers in the cultivated meat industry Commercial l

ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS AND

RECENT COMPANY PROGRESS

Fla., May 13, 2026 - Dyadic International, Inc. ("Dyadic", "we", "us", "our", or

the "Company") (NASDAQ: DYAI), d/b/a Dyadic Applied BioSolutions, a global biotechnology company producing precision-engineered,

animal-free proteins and enzymes for diverse commercial applications, today reported its financial results for Q1 2026 along with significant

corporate achievements.

2025 and into early 2026, we remained focused on transforming Dyadic into a commercially driven organization by leveraging our proprietary

microbial production platforms to bring animal-free recombinant proteins and enzymes to market, both independently and through strategic

partnerships," said Joe Hazelton, President and Chief Operating Officer of Dyadic. "We are encouraged that these products

are now moving through commercial sales channels and reaching customers, demonstrating the scalability of our technology platforms and

the increasing market demand for our products. As our distribution partners broaden their reach and customer adoption continues to expand

across cell culture media and biomanufacturing applications supporting key growth markets such as cell and gene therapy, biologics manufacturing,

and emerging markets such as cultivated meat, we believe Dyadic is well positioned to drive increasing product revenues. At the same

time, we are expanding our business development initiatives across Europe to build on the momentum we are achieving in Japan through

our collaboration with Intralink."

Company Developments and Updates

Recombinant Serum Albumin (AlbuFree DX): In February 2026, Proliant Health and Biologicals announced the commercial launch of

AlbuFree DX recombinant human albumin, produced using Dyadic's production platform. Dyadic is entitled to a share of profits

from commercial sales.

OEM Distribution Agreement with IBT Bioservices: In March 2026, Dyadic entered into an OEM distribution agreement with IBT Bioservices

to support commercialization of multiple recombinant proteins and enzymes through IBT's global distribution channels. Initial product

quantities, including DNase I and transferrin, have been completed and shipped to support channel commercialization activities.

DNase-1 (RNase-free): Dyadic completed production validation of recombinant DNase I and, together with Fermbox Bio, commercially launched

DNase I (RNase-free) as the first product under their expanded collaboration.

Recombinant Transferrin and Growth Factors: Dyadic continues advancing its animal-free transferrin and fibroblast growth factor (FGF)

products for use in cell culture media, diagnostics, and research, with expanded customer interest and sampling activity for recombinant

bovine transferrin within the cultivated meat industry.

Reagent Proteins and Nucleic Acid Enzymes: Dyadic continues advancing a portfolio of enzymes for DNA and RNA manipulation, including

RNase inhibitors and T7 RNA polymerase.

Alpha-Lactalbumin: In December 2025, Dyadic signed a development and commercialization agreement with BRIG Bio to create recombinant

bovine alpha-lactalbumin for global nutrition markets. Product development activities have been initiated, including initial product

quality and application testing, with customer sampling activities expected to begin in mid-2026.

Human Lactoferrin: Dyadic has established a stable cell line for recombinant human lactoferrin production and is continuing optimization

and characterization efforts supporting future nutrition applications.

Non-Animal Dairy Enzymes: Dyadic's partner Inzymes has commercialized recombinant non-animal bovine chymosin following achievement

of development milestones under its agreement with Dyadic.

Food and Nutrition Pipeline Expansion: Dyadic anticipates broadening both partner-led and internal development programs focused on non-animal

dairy proteins, selected food and nutrition enzymes, and related baking and brewing enzyme applications.

Expanded Fermbox Bio Collaboration: Dyadic expanded its collaboration with Fermbox Bio to support the development and manufacturing of

animal-free recombinant proteins and enzymes across life sciences, food and nutrition, and bio-industrial markets.

EN3ZYME Platform: Fermbox Bio previously launched EN3ZYME , an enzyme cocktail produced using the Dapibus platform

that converts agricultural residues into fermentable cellulosic sugars and fulfilled its first large scale order in 2025, with sampling

activity now extending into the Asia Pacific region.

Gates Foundation-supported RSV and malaria monoclonal antibody programs and the CEPI/Fondazione Biotecnopolo di Siena ("FBS")

H5 avian influenza antigen program continued to advance toward preclinical evaluation, with C1-produced antigens and antibodies expressed

at high yields while demonstrating binding and neutralization profiles virtually identical to CHO-derived clinical reference materials.

Collaborative development activities with Fondazione Biotecnopolo di Siena ("FBS") continue to demonstrate rapid antigen

development timelines and the ability to progress from receipt of a codon-optimized plasmid to purified recombinant antigen candidates

within weeks, while multiple preclinical animal studies evaluating C1-produced H5 (avian influenza), RSV and malaria antigens were initiated,

with initial data readouts demonstrating high levels of neutralizing antibodies.

Expanding Commercial Efforts in Asia and Europe: Dyadic expanded its engagement with Intralink to include Europe in addition to Japan

and South Korea, supporting broader commercial development activities and market entry initiatives for Dyadic's animal-free proteins.

Commercial Scale-Up Activities: Together with Fermbox Bio and other manufacturing partners, Dyadic continues scaling production capabilities

for multiple recombinant proteins and enzymes, including transferrin and additional commercial-stage products, to support broader market

launch activities and channel expansion.

Expanding Commercial Partnerships and Distribution Channels: Dyadic continues prioritizing relationships with manufacturing, supply chain,

and distribution partners to support commercialization and broaden market access for its growing portfolio of recombinant proteins and

Commercialization and Channel Expansion Strategy: Dyadic is focused on increasing product availability through both direct and partner-led

commercialization efforts, including OEM distribution, regional business development partnerships, and strategic manufacturing collaborations

designed to support long-term recurring product revenue opportunities.

Position: As of March 31, 2026, cash, cash equivalents, restricted cash, and the carrying value of investment-grade securities, including

accrued interest, were $6,604,006 compared to $8,587,289 as of December 31, 2025.

Total revenue for the three months ended March 31, 2026, amounted to $1,110,956 representing an increase of $717,384 or 182.3% compared

to $393,572 for the three months ended March 31, 2025. The increase was driven by a $220,490 increase in research and development revenue

primarily related to the Proliant Agreement. Additionally, grant revenue increased by $276,894 due to activities under grants

from CEPI and the Gates Foundation and license and milestone revenue also increased by $200,000 as a result of achieving a contract

milestone under the Inzymes Agreement.

of Revenue: Total cost of revenue for the three months ended March 31, 2026, amounted to $791,840 representing an increase of $494,182

or 166.0% compared to $297,658 for the three months ended March 31, 2025. The increase was driven by a $213,677 increase in cost of research

and development revenue. Cost of grant revenue increased by $280,505 due to activities under grants from CEPI and the Gates Foundation.

Expenses: Research and development expenses for the three months ended March 31, 2026, decreased $18,910 or 3.8% to $476,069 compared

to $494,979 for the same period a year ago. The decrease was driven by a slight decrease in the number of active internal research initiatives

Expenses: General and administrative expenses for the three months ended March 31, 2026, increased by $158,993 or 10.0% to $1,755,331

compared to $1,596,338 for the same period a year ago. The increase was related to legal and accounting expenses of $221,304, incentives

of $36,258, rebranding and business development expenses of $22,196, offset by a decrease in share-based compensation expenses of $110,381

and insurance expenses of $10,384.

from Operations: Loss from operations for the three months ended March 31, 2026, decreased $99,782 or 5.0% to $1,902,693 compared

to $2,002,475 for the same period a year ago. The decrease in loss from operations was largely attributable to an increase in total revenue

of $717,384, decrease in research and development expenses of $18,910, partially offset by an increase in total cost of revenue of $494,182,

and an increase in general and administrative expenses of $158,993.

Loss: Net loss for the three months ended March 31, 2026, was $1,954,683 or $(0.05) per share, compared to $2,027,579 or $(0.07)

per share for the same period a year ago.

Wednesday, May 13, 2026

5:00 p.m. Eastern Time

numbers: Toll Free: +1-877-407-9219 / +1 412-652-1274

Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=qVNgtGJ6

archive of the webcast will be available within 24 hours after completion of the live event and will be accessible on the Investor Relations

section of the Company's website at www.dyadic.com. To access the replay of the webcast, please follow the webcast link above.

Dyadic Applied BioSolutions

Applied BioSolutions is a global biotechnology company that uses its proprietary microbial platforms to produce recombinant proteins

that are sold or licensed to partners across the life sciences, food and nutrition, and bio-industrial markets. These high-quality proteins

are designed to enable customers to develop more efficient, scalable, and sustainable products. Dyadic's Dapibus and C1

expression systems support flexible, cost-effective manufacturing, and are the foundation of a growing portfolio of commercial and partnered

more information, please visit http://www.dyadic.com.

Harbor Regarding Forward-Looking Statements

press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange

Act, including those regarding Dyadic International's expectations, intentions, strategies, and beliefs pertaining to future events

or future financial performance, such as the success of our clinical trial and interest in our protein production platforms, our research

projects and third-party collaborations, as well as the availability of necessary funding. Forward-looking statements generally can be