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I N V E S T O R P R E S E N T A T I O N | Q 4 F Y 2 0 2 5 Intelligent Security. Everywhere.
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Safe Harbor Statement Some of the statements made within this presentation constitute forward-looking statements and are made pursuant to the safe harbor provisions of applicable U.S. and Canadian securities laws. Forward-looking statements are indicated by using words such as expect, will, should, model, intend, believe and similar expressions. Forward-looking statements are based on estimates and assumptions made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors that the company believes are relevant. Many factors could cause the company's actual results or performance to differ materially from those expressed or implied by the forward- looking statements, including the risk factors that are discussed in the company's annual report on Form 10-K and in our MD&A. You should not place undue reliance on the company's forward-looking statements. Any forward-looking statements are made only as of the date of publication and the company has no intention and undertakes no obligation to update or revise any of them, except as required by law. This presentation includes certain non-GAAP measures. We believe that these non-GAAP measures, which may be defined differently by other companies, explain our results of operations in a manner that allows for a more complete understanding of the underlying trends in our business. However, these measures should not be viewed as a substitute for those determined in accordance with GAAP. For a reconciliation between the non-GAAP measures used in this presentation and our GAAP results, please see our Q4 Fiscal 2025 earnings press release available through our website and on EDGAR and SEDAR+. © 2025 BlackBerry. All Rights Reserved. | 2
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© 2024 BlackBerry. All Rights Reserved 3 © 2025 BlackBerry. All Rights Reserved. Q4 FY25 Financial Summary $141.7M Revenue $0.03 Non-GAAP Earnings per Share1 $410M Total ending Cash & Investments $87.4M Non-GAAP OPEX1 Adjusted EBITDA 1 $21.1M 865M QNX Royalty Backlog2 $42.0M 74% Non-GAAP Gross Margin1 $ % $ $ $ $ 1. See appendix for detail and reconciliation of non-GAAP measures to US GAAP 2. See form 10-K for definitions of key metrics Operating Cash Flow ($57M improvement year-over-year) $
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© 2024 BlackBerry. All Rights Reserved 4 © 2025 BlackBerry. All Rights Reserved. 1. See form 10Q for detail and reconciliation of non-GAAP measures to US GAAP Q4 FY25: Delivers significant increase in Operating Cash Flow 2. After adjusting for $170M received in relation to patent sale -$57 -$30 -$15 -$15 -$16 $6 $42 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25Q4 FY25Q3 FY25 • Excluding the patent sale proceeds in Q1 of FY24, this was the strongest operating cash flow performance since Q4 of fiscal 2021 • Q4 FY25 operating cash flow is $36M better than prior quarter, and $58M better than same quarter in the prior year • Total cash and investments increased by $144 million during the quarter, as a result of the Cylance sale proceeds and the strong operating cash flow, to $410 million BlackBerry now has a solid net cash and investment position in excess of $200 million
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© 2024 BlackBerry. All Rights Reserved 5 © 2025 BlackBerry. All Rights Reserved. Q4 FY25 Summary: QNX QNX • Revenue of $65.8M beats top end of guidance range • Development Seat Revenue increased sequentially – strongest quarter in FY25 • Revenue for full fiscal 2025 increased double-digit percentage year-on-year to $236.0M • Gross margin in Q4 decreased 3% sequentially to 83% and remained flat year-over-year for fiscal 2025 at 84%. • Automotive Design Wins • Continued wins in core digital cockpit and ADAS • Traction in adjacent verticals - General Embedded Market (GEM) • Launched QNX General Embedded Development Platform (GEDP) • Several net new logos in adjacent verticals, e.g., medical, rail, aerospace & defense 1. See form 10-K for definitions of key metrics SEGMENT FINANCIALS ($M) Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Segment revenue 65.9 215.4 53.2 54.7 62.3 65.8 236.0 Segment cost of sales 9.7 33.8 9.5 9.3 8.9 11.1 38.8 Segment gross margin 56.2 181.6 43.7 45.4 53.4 54.7 197.2 Segment gross margin % 85% 84% 82% 83% 86% 83% 84% Segment adjusted R&D 16.0 64.5 16.4 14.7 15.7 13.1 59.9 Segment adjusted S&M 12.3 43.4 10.7 9.8 11.6 14.5 46.6 Segment adjusted G&A 10.8 43.1 8.2 8.4 8.8 8.5 33.9 Segment adjusted OPEX 39.1 151.0 35.3 32.9 36.1 36.1 140.4 Less Amortization in the above 0.6 2.9 0.5 0.6 0.6 0.6 2.3 Segment Adjusted EBITDA 17.7 33.5 8.9 13.1 17.9 19.2 59.1 Segment Adjusted EBITDA % 27% 16% 17% 24% 29% 29% 25% KEY METRICS QNX Royalty Backlog ($M) ~815 ~865
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© 2024 BlackBerry. All Rights Reserved 6 © 2025 BlackBerry. All Rights Reserved. Q4 FY25 Summary: Secure Communications SECURE COMMUNICATIONS • Revenue of $67.3M, beats top end of guidance range • AtHoc revenue grew year-over-year in Q4 and for the full fiscal year • Secusmart revenue remains strong, powered by renewals in core German market • UEM revenue grew sequentially in Q4. • Gross Margin was 64% for Q4, down sequentially and year-over-year as a result of revenue mix, specifically a higher proportion of hardware sales from Secusmart • Secure Communications ARR grew 3% year-over year to $208M • Secure Communications DBNRR was 93%, up 2% year-over-year • AtHoc DNBRR remains >100% See form 10-K for definitions of key metrics SEGMENT FINANCIALS ($M) Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Segment revenue 71.6 283.8 64.2 66.5 74.6 67.3 272.6 Segment cost of sales 18.9 80.7 21.8 26.1 20.3 24.5 92.7 Segment gross margin 52.7 203.1 42.4 40.4 54.3 42.8 179.9 Segment gross margin % 74% 72% 66% 61% 73% 64% 66% Segment adjusted R&D 11.6 56.1 12.3 11.7 11.1 9.1 44.2 Segment adjusted S&M 13.4 58.2 12.2 11.1 11.1 12 46.4 Segment adjusted G&A 11.6 47.2 9.6 10.5 10.4 9.7 40.2 Segment adjusted OPEX 36.6 161.5 34.1 33.3 32.6 30.8 130.8 Less Amortization in the above 1.0 4.4 1.0 0.8 0.8 0.6 3.2 Segment Adjusted EBITDA 17.1 46.0 9.3 7.9 22.5 12.6 52.3 Segment Adjusted EBITDA % 24% 16% 14% 12% 30% 19% 19% KEY METRICS ARR ($M) 202 211 209 215 208 DBNRR (%) 91% 93% 93% 95% 93%
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© 2024 BlackBerry. All Rights Reserved 7 © 2025 BlackBerry. All Rights Reserved. Q4 FY25 Summary: Licensing LICENSING SEGMENT FINANCIALS ($M) Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Segment revenue 15.4 259.9 6.0 5.0 6.7 8.6 26.3 Segment cost of sales 1.4 150.9 1.4 1.6 1.5 1.6 6.1 Segment gross margin ($M) 14.0 109.0 4.6 3.4 5.2 7.0 20.2 Segment gross margin % 91% 42% 77% 68% 78% 81% 77% Segment adjusted G&A 3.6 23.2 2.1 1.7 1.8 7.8 13.4 Segment adjusted OPEX 3.6 23.2 2.1 1.7 1.8 7.8 13.4 Less Amortization in the above 2.3 9.7 2.2 2.3 2.3 2.2 9.0 Segment Adjusted EBITDA 12.7 95.5 4.7 4.0 5.7 1.4 15.8 Segment Adjusted EBITDA % 82% 37% 78% 80% 85% 16% 60%
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© 2024 BlackBerry. All Rights Reserved 8 © 2025 BlackBerry. All Rights Reserved. Financial Outlook Q1 FY26 & Full-year FY26 OUTLOOK Q1 FY26 Full-year FY26 Total Revenue ($M) 107 - 115 504 - 534 QNX Revenue ($M) 51 - 55 250 - 270 Secure Comms Revenue ($M) 50 - 54 230 - 240 Licensing Revenue ($M) ~6 ~24 Total Adjusted EBITDA ($M) 0 - 7 69 - 84 QNX Adjusted EBITDA ($M) 2 - 6 55 - 60 Secure Comms Adjusted EBITDA ($M) 3 - 6 34 - 44 Licensing Adjusted EBITDA ($M) ~5 ~20 Adjusted Corporate costs ($M) ~10 ~40 Non-GAAP basic EPS ($) (0.01) - 0.00 0.08 - 0.10 Cash from Operations ($M) (20) - (30) ~35
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© 2024 BlackBerry. All Rights Reserved 9 © 2025 BlackBerry. All Rights Reserved. BlackBerry announced the successful closing of the sale of its Cylance® endpoint security assets to Arctic Wolf QNX extended its collaboration with silicon chip manufacturer AMD to support a wider range of adaptive computing devices used in robotic systems and other embedded devices Together with Intel and NecCOBOT, QNX launched a functional safety (FuSa) platform built on advanced Intel® Core i7 processors for advanced robotic systems Q4 FY25 Achievements QNX launched its General Embedded Development Platform (GEDP), designed to accelerate the development of high- performance, scalable and secured embedded systems Microsoft and BlackBerry partnered to make QNX® Software Development Platform (SDP) 8.0 available in the Microsoft Azure cloud environment QNX, Vector and TTTech Auto announced a multi- year collaboration to develop and market a vehicle software platform that pre-integrates the QNX OS with other leading middleware components Secusmart achieved certification from German BSI for its new SecuSUITE® for iOS® solution, allowing it to provide leading encrypted voice and data on Apple devices to German government agencies BlackBerry expanded its relationship with the Malaysian government, increasing the number of government employees that can use BlackBerry’s suite of Secure Communications products
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Investment Highlights
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© 2024 BlackBerry. All Rights Reserved 11 © 2025 BlackBerry. All Rights Reserved. QNX $236.0 Secure Comms $272.6 BlackBerry Snapshot (NYSE: BB; TSX: BB) Leading Provider of Software and Security Solutions to Governments and Enterprises Around the Globe 3 Divisions • QNX: Trusted supplier of market-leading QNX® operating systems, hypervisors, development tools and support to automotive OEMs, Tier 1 vendors and the general embedded market • Secure Communications: Leading secure communications portfolio and endpoint security; including critical event management and encrypted voice. • Licensing: Leveraging its rich, decades-long heritage in Intellectual Property Waterloo, Canada Headquarters $2.3B¹ Market Cap 1,700+ Employees 20 Countries ~$532M 2025 Revenue 1. Market Cap as of Mar 29, 2025 2025 Revenue by Segment ($Mil) EMEA $188.6 North America $248.7 Other $97.6 2025 Revenue by Region ($Mil)
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© 2024 BlackBerry. All Rights Reserved 12 © 2025 BlackBerry. All Rights Reserved. Why Invest with BlackBerry Multiple market-leading businesses with strong growth prospects supported by long-term, secular tailwinds 1 Strength of Portfolio Meaningfully improved operating cash flow and target for cash generation by end of current fiscal year 3 Enhanced Cash Flow Profile Greater clarity and focus regarding capital allocation priorities in growth areas, with emphasis on driving strong shareholder returns 4 Strategic Capital Allocation Improving business fundamentals, as reflected by stabilization and improvement of key metrics 2 Fundamental Business Strength
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© 2024 BlackBerry. All Rights Reserved 13© 2025 BlackBerry. All Rights Reserved.
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© 2024 BlackBerry. All Rights Reserved 14 © 2025 BlackBerry. All Rights Reserved. $460¹ $640 $815 $865 Q4 FY22* Q4 FY23 Q4 FY24 Q4 FY25 4 Improving & Stabilizing Business Fundamentals2 Secure Communications ARR and DBNRR US$ millions / % QNX Royalty Backlog, Annual Recurring Revenue (ARR), and Dollar-based Net Retention Rate (DBNRR) are key metrics that do not have standardized meanings and are unlikely to be comparable to similarly titled measures reported by other companies. See form 10-K for definitions. * Q4 FY22 provided for comparability and was not previously disclosed. For reference, Q1 FY23 was previously provided at $560M. QNX Royalty Backlog US$ millions ~23% CAGR Backlog at ~3.7x FY25 Revenue $199 $198 $199 $202 $211 $209 $215 $208 89% 91% 91% 91% 93% 93% 95% 93% Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4FY25 Secure Communications ARR Secure Communications DBNRR
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© 2024 BlackBerry. All Rights Reserved 15 © 2025 BlackBerry. All Rights Reserved. • No debt maturities until 2029 • ~$40M additional cash from Cylance sale Q4 FY26 Enhanced Cashflow Profile Strengthened Balance Sheet Operating Cashflow 3 Significant Transformation in Cashflow Profile $365 $200 $200 $61 $37 $138 FY23 FY24 FY25 Gross Debt Net Cash Reduced Gross Debt / Increased Net Cash US$ millions • Q3 FY25 saw positive operating cash flow for first time in 3 years -$4 $17 -$262 US$ millions FY25FY24FY23 • Significant cost reductions to lead transformation back to profitability • Improved cashflow profile to enable a pivot of capital allocation focus
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© 2024 BlackBerry. All Rights Reserved 16 © 2025 BlackBerry. All Rights Reserved. $59 $53 $16 25% 19% 60% -20% -10% 0% 10% 20% 30% 40% 50% 60% 70% $- $10 $20 $30 $40 $50 $60 $70 QNX Secure Comms Licensing Immediate Priorities Leverage strength of BlackBerry’s great people, great brand and great financial foundation Prioritize organic investments to harness secular tailwinds in growth areas of the business, primarily QNX Consider potential for Share buy-backs Medium-Term Priorities Opportunistic tuck-in M&A to accelerate QNX growth and adjacent market expansion Driving Shareholder Returns by Prudently Allocating Capital4 Leverage 3 profitable divisions …to accelerate value creation All 3 engines contributing positive Adj. EBITDA IoT division, as reported in Q3 FY25 earnings and Form 10-Q, rebranded as QNX division Adjusted EBITDA is a non-GAAP financial measure and does not have standardized meanings prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers Adj. EBITDA and Adj. EBITDA Margin US$ millions Adj. EBITDA Adj. EBITDA Margin
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© 2024 BlackBerry. All Rights Reserved 17 QNX Division: Leading With Innovation Extending our Market Position with Leading Technology
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© 2024 BlackBerry. All Rights Reserved 18 © 2025 BlackBerry. All Rights Reserved. QNX: A Compelling Driver of Investment Valuation Large, Growing Market Opportunity with Attractive Economics • Still in early stages of multi-year market growth trajectory • Even greater opportunity due to recent OEM program delays Commercial and Technical Trends Pushing the Industry in Our Direction • OEM’s key platform challenges directly addressed with FY24 product launches and FY25 investments Clear Segment Leader with Unique Capabilities, IP, and Track Record • Winning in automotive – the most advanced IoT segment • Position in the ecosystem has never been stronger Deep, Long-Standing Relationships with Leading Customers and Partners • More than a decade of delivering innovative customer solutions • Positioned for continued industry leadership Leading Market Position Attractive Fundamentals
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© 2024 BlackBerry. All Rights Reserved 19 © 2025 BlackBerry. All Rights Reserved. CY2024 CY2025 CY2026 CY2027 CY2028 SAM by IoT Core and Strategic Initiatives ($B) $1.8 $2.2 $2.7 $3.5 $5.9 BB IOT Core: 2.180/ CAGR 8- 12% • IoT Core Serviceable Addressable Market (SAM)1 growing at ~8-12% CAGR CY24- 26, reaching $2.1B by CY26 • Strategic investments2 have the potential to substantially increase the size of the SAM over the next 5 years Strong Core Market Growth + Strategic Investments Drive Significant Upside Potential Addressable Market Remains Large and Growing Core SAM Strategic Investments 1. Core SAM consists of QNX Auto & GEM royalties and related development/services. 2. Strategic investments consist of QNX Sound, IVY, vehicle platform and related growth initiatives. ~34% IoT Total CAGR ’24-’28 ~8-12% IoT Core CAGR $2.9$2.6 $2.1$1.8$1.7 ~14% IoT Core CAGR ’24-’28 Current Plan Growing Market
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© 2024 BlackBerry. All Rights Reserved 20 © 2025 BlackBerry. All Rights Reserved. Positioned to Benefit From Powerful Industry Trends Source: SBD Automotive 2022, S&P Global IoT Connected Devices July 2023, Infosys Software Defined Everything for Agility June 2022, IDC Future of Industry Ecosystems January 2021, Gartner Predicts January 2021 Industry Leadership Position Places BlackBerry at the Forefront of Change Up to 500M Lines of Code Extensive Sensor Inputs Average 12 cameras, LiDAR, Radar, GPS, USS Stringent Safety Requirements ISO26262, ASIL-D, IEC 61508 100-500 Watts Energy Consumption <10 millisecond Latency Cloud - EDGE Rapidly growing dependencies Secular Tailwinds Global Light Passenger Vehicle (LPV) Volumes 2023 2024 2025 2026 2027 2028 2029 2030 Vehicle Centralized Domain Centralized Distributed 90.3M 90.4M 92.3M 94.0M 94.7M 95.4M 97.2M 97.6M 44% 17% 28% 28% 12% 40% 48% 81% ECU/DCU Market by Domains, $ billions $17 $36$2 $19 $24 $3 $9 $3 $31 ECU DCU $22 $7 $10 $8 $19 $2 $9 $29 ECU DCU Safety & ADAS/HAD Infortainment Powertrain Chassis Body 2025 $89 $17 $82 $61 2030 Increasing Vehicle Complexity More Computing Power in the Vehicle Shift in Focus to Safety Critical Domains QNX excels in high-performance chipsets, including Domain Control Units (DCU)
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© 2024 BlackBerry. All Rights Reserved 21 © 2025 BlackBerry. All Rights Reserved. Long-term Software Platform Growth Opportunity From Individual Sockets/Layers… Operating System & Virtualization Platform & Middleware Hardware & Electrical/Electronic Vehicle Applications …to Requests for an Integrated Software Platform BlackBerry QNX Component 3rd Party/Native Component QNX RTOS QNX Hypervisor Integrated Software Platform Customers requesting a one-stop-shop solution rather than individual components and layers IVY Integrated Software Platform Captures a Much Larger Share of Wallet and Expands QNX Market Opportunity QNX RTOS QNX HypervisorQNX RTOS QNX Hypervisor 3rd Party Integration QNX Sound IVY QNX Cabin Leading Capabilities
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© 2024 BlackBerry. All Rights Reserved 22 © 2025 BlackBerry. All Rights Reserved. Working with Industry-Leading Customers and Partners to Drive Innovation 10/10 Top Automakers 7/7 Top T1 OEMs 24/25 Top EV Makers 255M Cars on the Road Examples of GEM¹ Wins 7 of >50 total new wins Leveraging dominant market position to win outsized share of future market growth Customers and Partners Directly Drive a Significant Portion of our Development Developing industry-leading foundational Edge Compute software for Auto and GEM¹ applications Examples of Automotive Wins 8 of >50 total new wins • Auto still dominated by high end compute stacks (DC, ADAS, Centralized HPC etc.) • Early examples of other MPU domains emerging (Zonal, GWs, B&C…) • GEM¹ applications more fragmented than automotive software but showing continued strength across medical, industrial automation, and robotics 100+ Design Wins In the Past 18 Months 1. GEM: General Embedded Market Select QNX SDP 8 silicon commitments: 9/10 Top Medical device companies Deep Relationships
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© 2024 BlackBerry. All Rights Reserved 23 © 2025 BlackBerry. All Rights Reserved. $178 $206 $215 $236 $260- 270 FY22 FY23 FY24 FY25 FY26E Proven and Consistent QNX Revenue Growth US$ millions Track Record of Double-digit Revenue Growth • Forecasted growth in line with past performance through industry cycles • Upside impact from new platform initiatives expected to be material after FY27 Capitalizing on Recent Investments to Accelerate Near-Term Revenue Growth QNX FY25 Sales Mix (~$236m) Americas 50% EMEA 23% Asia- Pacific 27% >10% CAGR EMEA 22% Americas 47% Asia- Pacific 31% Other 18% Auto & other Transportation 82%
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© 2024 BlackBerry. All Rights Reserved 24 Strengthening Our Cybersecurity Business
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© 2024 BlackBerry. All Rights Reserved 25 © 2025 BlackBerry. All Rights Reserved. Building on our Secure Communications Foundation Overview • Strong customer base and growing in US Government • Focus on police/fire/ambulance opportunities Competitive Advantages • Scale & reliability for major events with comprehensive workflows • Wide array of alerting integrations (cameras, alarms, displays, etc.) • Extensive US Government & International Certifications BlackBerry AtHoc Overview • Major contributor to Cybersecurity revenue • Strong focus on retention, efficiency & profitability Competitive Advantages • Data Sovereignty / On-Premise Multi-tenant • Application, Data, & Browser Security • Regulatory Certifications BlackBerry UEM Overview • Strong German Government base • Focus on new mobile app suite & growth outside of Germany Competitive Advantages • NSA certified end-to-end encryption • Cryptographic proof of identity • Data sovereignty • Extensive certifications BlackBerry SecuSuite Profit Driver $0.8B Addressable Market Growth Driver $1.8B Addressable Market Growth Driver $2.0B Addressable Market
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© 2024 BlackBerry. All Rights Reserved 26 © 2025 BlackBerry. All Rights Reserved. 80% Government & Large Enterprise With $250k+ ARR 45% North America 12% Asia Pacific National Governments UNITED STATES, CANADA, GERMANY, MALAYSIA, AND MORE Strong Foundation of Highly Satisfied & Loyal Customers STRONG RETENTION Preferred Choice Military 43% EMEA All numbers in reference to Fiscal 2025 results. Annualized Recurring Revenue is a key metrics that does not have standardized meaning and is unlikely to be comparable to similarly titled measures reported by other companies. See form 10-K for definitions.
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© 2024 BlackBerry. All Rights Reserved 27 Appendix (Q4 FY25 Financials) © 2024 BlackBerry. All Rights Reserved. | 27
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© 2024 BlackBerry. All Rights Reserved 28© 2025 BlackBerry. All Rights Reserved. GAAP Income Statement ($M)
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© 2024 BlackBerry. All Rights Reserved 29© 2025 BlackBerry. All Rights Reserved. Adjusted Gross Margin, Adjusted Operating Income (Loss), Adjusted Income (loss) from continuing operations, Adjusted Net Income (Loss) do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures the Company and its shareholders to better assess the Company's operating results relative to its operating results in prior periods and improves the comparability of the information presented. This non-GAAP information should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. You are encouraged to review the Company's filings on SEDAR+ and EDGAR. The company makes no commitment to update the information above subsequently. Adjusted Income Statement($M)
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© 2024 BlackBerry. All Rights Reserved 30© 2025 BlackBerry. All Rights Reserved. Segment information does not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures the Company and its shareholders to better assess the Company's operating results relative to its operating results in prior periods and improves the comparability of the information presented. This non-GAAP information should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. You are encouraged to review the Company's filings on SEDAR+ and EDGAR. The company makes no commitment to update the information above subsequently. Segment Information ($M)
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© 2024 BlackBerry. All Rights Reserved 31© 2025 BlackBerry. All Rights Reserved. Adjusted gross margin, adjusted gross margin percent and adjustments on continuing operations do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures the Company and its shareholders to better assess the Company's operating results relative to its operating results in prior periods and improves the comparability of the information presented. This non-GAAP information should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. You are encouraged to review the Company's filings on SEDAR+ and EDGAR. The company makes no commitment to update the information above subsequently. Non-GAAP Reconciliation ($M)
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© 2024 BlackBerry. All Rights Reserved 32© 2025 BlackBerry. All Rights Reserved. Adjusted research and development expense, adjusted sales and marketing expense, adjusted general and administration expense and adjusted amortization expense do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures the Company and its shareholders to better assess the Company's operating results relative to its operating results in prior periods and improves the comparability of the information presented. This non-GAAP information should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. You are encouraged to review the Company's filings on SEDAR+ and EDGAR. The company makes no commitment to update the information above subsequently. Research and development Q1FY24 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP research and development expense $ 35.8 $ 34.0 $ 28.4 $ 28.9 $ 127.1 $ 30.6 $ 27.1 $ 27.9 $ 23.2 $ 108.8 Stock compensation expense 1.8 2.3 1.6 1.6 7.3 1.8 1.2 1.1 1.2 5.3 Adjusted research and development expense $ 34.0 $ 31.7 $ 26.8 $ 27.3 $ 119.8 $ 28.8 $ 25.9 $ 26.8 $ 22.0 $ 103.5 Sales and marketing Q1FY24 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP sales and marketing $ 26.8 $ 24.7 $ 26.5 $ 26.0 $ 104.0 $ 23.8 $ 21.3 $ 23.4 $ 27.1 $ 95.5 Stock compensation expense 0.6 1.0 0.6 0.3 2.5 0.8 0.7 0.6 0.7 2.8 Adjusted sales and marketing expense $ 26.2 $ 23.7 $ 25.9 $ 25.7 $ 101.5 $ 23.0 $ 20.6 $ 22.8 $ 26.4 $ 92.7 General and administrative Q1FY24 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP General and administrative expense $ 56.4 $ 31.2 $ 45.5 $ 54.0 $ 187.2 $ 40.3 $ 32.8 $ 36.4 $ 50.0 $ 159.7 Restructuring charges 4.8 2.8 9.9 18.4 35.9 7.3 0.9 6.5 11.4 26.1 Stock compensation expense 4.7 5.1 4.0 2.2 16.0 2.9 2.8 2.4 2.0 10.1 Adjusted general and administrative expense $ 46.9 $ 23.3 $ 31.6 $ 33.4 $ 135.3 $ 30.1 $ 29.1 $ 27.5 $ 36.6 $ 123.5 Amortization Q1FY24 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP amortization expense $ 7.9 $ 7.9 $ 6.2 $ 4.7 $ 26.7 $ 4.7 $ 4.6 $ 4.4 $ 4.1 $ 17.7 Acquired intangibles amortization 3.4 3.5 2.3 1.8 11.0 1.8 1.7 1.8 1.7 7.0 Adjusted amortization expense $ 4.5 $ 4.4 $ 3.9 $ 2.9 $ 15.7 $ 2.9 $ 2.9 $ 2.6 $ 2.4 $ 10.7 Non-GAAP Reconciliation ($M) (Cont.)
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© 2024 BlackBerry. All Rights Reserved 33© 2025 BlackBerry. All Rights Reserved. Adjusted EBITDA, Adjusted Corporate Costs do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures the Company and its shareholders to better assess the Company's operating results relative to its operating results in prior periods and improves the comparability of the information presented. This non-GAAP information should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. You are encouraged to review the Company's filings on SEDAR+ and EDGAR. The company makes no commitment to update the information above subsequently. Adjusted EBITDA on continuing operations Q1FY24 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 GAAP operating income (loss) $ 23.4 $ (16.0) $ 16.3 $ (12.5) $ 11.0 $ (12.9) $ 2.2 $ 19.5 $ (8.0) $ 0.8 Non-GAAP adjustments to operating icome (loss) 38.0 10.3 16.0 46.1 110.4 18.8 8.5 13.7 25.1 66.1 Adjusted operating income (loss) 61.4 (5.7) 32.3 33.6 121.4 5.9 10.7 33.2 17.1 66.9 Amortization 8.8 8.7 7.3 6.4 31.3 6.4 6.1 6.1 5.7 24.3 Acquired intangibles amortization (3.4) (3.5) (2.3) (1.8) (11.0) (1.8) (1.7) (1.8) (1.7) (7.0) Adjusted EBITDA on continuing operations $ 66.8 $ (0.5) $ 37.3 $ 38.2 $ 141.7 $ 10.5 $ 15.1 $ 37.5 $ 21.1 $ 84.2 Total Segment Adjusted EBITDA 83.3 (3.5) 47.8 47.5 175.0 22.9 25.0 46.1 33.2 127.2 Adjusted Corporate Costs $ (16.5) $ 3.0 $ (10.5) $ (9.3) $ (33.3) $ (12.4) $ (9.9) $ (8.6) $ (12.1) $ (43.0) Non-GAAP Reconciliation ($M) (Cont.)
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© 2024 BlackBerry. All Rights Reserved 34© 2025 BlackBerry. All Rights Reserved. Adjusted net income (loss), adjusted earnings (loss) per share, adjusted net income (loss) per share from continuing operations and adjusted earnings (loss) per share from continuing operations do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures the Company and its shareholders to better assess the Company's operating results relative to its operating results in prior periods and improves the comparability of the information presented. This non-GAAP information should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. You are encouraged to review the Company's filings on SEDAR+ and EDGAR. The company makes no commitment to update the information above subsequently. Non-GAAP Reconciliation ($M) (Cont.)
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© 2024 BlackBerry. All Rights Reserved 35 # B L A C K B E R R Y T R U S T | # S E C U R I T Y | # P R I V A C Y | # C O N T R O L investorrelations@blackberry.com