Financial statements
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Interim Condensed Consolidated Financial Statements of GOODFOOD MARKET CORP. 13 and 39 weeks period ended June 6, 2026 and June 7, 2025 (Unaudited)
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GOODFOOD MARKET CORP. Table of Contents Page Interim Condensed Consolidated Financial Statements Interim Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income 1 Interim Condensed Consolidated Statements of Financial Position 2 Interim Condensed Consolidated Statements of Changes in Shareholders’ Deficiency 3 Interim Condensed Consolidated Statements of Cash Flows 4 Notes to the Interim Condensed Consolidated Financial Statements 5 - 12
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1 | Page GOODFOOD MARKET CORP. Interim Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income (In thousands of Canadian dollars, except share and per share information - Unaudited) 13 weeks ended 39 weeks ended Note June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Net sales $ 21,464 $ 30,683 $ 71,511 $ 95,845 Cost of goods sold 12,585 17,090 44,088 55,533 Gross profit 8,879 13,593 27,423 40,312 Selling, general and administrative expenses 5,112 11,217 24,515 35,473 Reorganization and other related costs 5 901 – 2,568 – Depreciation and amortization 1,208 1,333 3,774 4,584 Operating income (loss) 1,658 1,043 (3,434) 255 Net finance costs 6 1,706 964 5,938 4,251 (Loss) income before income taxes (48) 79 (9,372) (3,996) Income tax expense 7 2 25 30 25 Net (loss) income, being comprehensive (loss) income $ (50) $ 54 $ (9,402) $ (4,021) Basic and diluted (loss) income per share $ (0.00) $ 0.00 $ (0.10) $ (0.05) Basic weighted average number of common shares outstanding 9 99,333,005 93,486,557 98,886,080 82,913,098 Diluted weighted average number of common shares outstanding 9 99,333,005 94,055,780 98,886,080 82,913,098 The accompanying notes are an integral part of these interim condensed consolidated financial statements.
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2 | Page GOODFOOD MARKET CORP. Interim Condensed Consolidated Statements of Financial Position (In thousands of Canadian dollars - unaudited) As at Notes June 6, 2026 September 6, 2025 Assets Current assets: Cash and cash equivalents $ 4,667 $ 12,345 Marketable securities 1,849 3,425 Accounts and other receivables 2,902 3,293 Inventories 2,638 3,107 Other current assets 663 669 12,719 22,839 Non-current assets: Fixed assets 4,686 6,230 Right-of-use assets 4,726 6,225 Intangible assets and goodwill 2,613 2,930 Lease receivables 2,350 3,228 Other non-current assets 204 310 Total assets $ 27,298 $ 41,762 Liabilities and Shareholders’ Deficiency Current liabilities: Accounts payable and accrued liabilities $ 9,947 $ 13,683 Deferred revenues 1,714 2,507 Current portion of convertible debentures 8 27,418 – Current portion of lease obligations 3,275 3,149 Other current liabilities 399 – 42,753 19,339 Non-current liabilities: Convertible debentures 8 14,943 40,871 Lease obligations 5,331 7,784 Other non-current liabilities 756 1,035 Total liabilities 63,783 69,029 Shareholders’ deficiency: Common shares 9 189,214 188,808 Contributed surplus 7,051 7,273 Convertible debentures 8 4,600 4,600 Deficit (237,350) (227,948) Total shareholders’ deficiency (36,485) (27,267) Total liabilities and shareholders’ deficiency $ 27,298 $ 41,762 The accompanying notes are an integral part of these interim condensed consolidated financial statements. Approved on behalf of Goodfood Market Corp. by: Signed Signed Selim Bassoul, Director and Chair of the Board Donald Olds, Lead Director and Chair of the Audit Committee
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3 | Page GOODFOOD MARKET CORP. Interim Condensed Consolidated Statements of Changes in Shareholders’ Deficiency (In thousands of Canadian dollars - unaudited) For the 39 weeks ended June 7, 2025 Note Common Shares Contributed Surplus Convertible Debentures Deficit Total Non- controlling interest Total Shareholders’ Deficiency Balance as at September 7, 2024 $ 181,727 $ 7,448 $ 5,367 $ (220,620) $ (26,078) $ – $ (26,078) Net loss for the period – – – (4,021) (4,021) – (4,021) Net convertible debentures repaid in common shares 6,186 – (767) 767 6,186 – 6,186 Share-based payments expense – 697 – – 697 – 697 Restricted share units vested 9 839 (839) – – – – – Employee share purchase plan 9 (23) (12) – – (35) – (35) Non-controlling interest arising from a business combination – – – – – 352 352 Long-term liability for the obligation to repurchase a non- controlling interest – – – – – (352) (352) Balance as at June 7, 2025 $ 188,729 $ 7,294 $ 4,600 $ (223,874) $ (23,251) $ – $ (23,251) June 6, 2026 Balance as at September 6, 2025 $ 188,808 $ 7,273 $ 4,600 $ (227,948) $ (27,267) $ – $ (27,267) Net loss for the period – – – (9,402) (9,402) – (9,402) Share-based payments expense – 203 – – 203 – 203 Restricted share units vested 9 411 (411) – – – – – Stock options exercised 9 4 (2) – – 2 – 2 Employee share purchase plan 9 (9) (12) – – (21) – (21) Balance as at June 6, 2026 $ 189,214 $ 7,051 $ 4,600 $ (237,350) $ (36,485) $ – $ (36,485) The accompanying notes are an integral part of these interim condensed consolidated financial statements.
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4 | Page GOODFOOD MARKET CORP. Interim Condensed Consolidated Statements of Cash Flows (In thousands of Canadian dollars - Unaudited) 13 weeks 39 weeks For the periods ended Note June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Operating: Net (loss) income $ (50) $ 54 $ (9,402) $ (4,021) Adjustments for: Depreciation and amortization 1,208 1,333 3,774 4,584 Net gains on disposal of non- financial assets – (10) – (251) Share-based payments expense 53 261 201 696 Net finance costs 6 1,706 964 5,938 4,251 Deferred income tax recovery 7 (9) (14) (27) (14) Change in non-cash operating working capital 11 (3,872) (2,007) (2,533) (3,825) Other – 17 – 215 Net cash (used in) provided by operating activities (964) 598 (2,049) 1,635 Investing: Business combination, net of cash acquired – 18 – (1,182) Additions to marketable securities – (1,000) – (3,001) Additions to fixed assets (9) (358) (63) (811) Additions to intangible assets (31) (144) (277) (465) Interest received 112 209 497 736 Other – 12 – (4) Net cash provided by (used in) investing activities 72 (1,263) 157 (4,727) Financing: Repayment of debt – – – (1,138) Payments of lease obligations (798) (767) (2,395) (2,296) Interest paid (1,018) (2,213) (3,371) (3,719) Other (7) (57) (20) (84) Net cash used in financing activities (1,823) (3,037) (5,786) (7,237) Change in cash and cash equivalents (2,715) (3,702) (7,678) (10,329) Cash and cash equivalents, beginning of period 7,382 17,383 12,345 24,010 Cash and cash equivalents, end of period $ 4,667 $ 13,681 $ 4,667 $ 13,681 Supplemental cash flow information 11 The accompanying notes are an integral part of these interim condensed consolidated financial statements.
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 5 | Page 1. REPORTING ENTITY Goodfood Market Corp. is a meal solutions brand in Canada, delivering fresh ingredients and ready-to-eat trays that make it easy for customers from across Canada to enjoy delicious meals at home every day . References to Goodfood Market Corp. (or "Goodfood", the "Company") represent the financial position, financial performance, cash flows and disclosures of Goodfood Market Corp. and its subsidiaries on a consolidated basis. Goodfood Market Corp. is incorporated under the Canada Business Corporations Act and is listed on the Toronto Stock Exchange ("TSX") under the symbol " FOOD". The Company’s main production facility and administrative offices are based in Montréal, Québec, with additional locations in the provinces of Ontario and Alberta. 2. BASIS OF PREPARATION 2.1 STATEMENT OF COMPLIANCE These interim condensed consolidated financial statements of the Company have been prepared in accordance with International Accounting Standard (“IAS”) 34, Interim Financial Reporting as issued by the International Accounting Standards Board (“IASB”) . These interim condensed consolidated financial statements do not include all the disclosures required for annual consolidated financial statements prepared in accordance with IFRS Accounting Standards as issued by the IASB and should be read in conjunction with the annual audited consolidated financial statements of the Company for the year ended September 6, 2025. These interim condensed consolidated financial statements of the Company were a pproved by the Board of Directors ("Board") on July 21, 2026 for publication on July 21, 2026. 2.2 GOING CONCERN These interim condensed consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which presumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. In assessing whether the going concern assumption is appropriate and whether there are material uncertainties that may cast significant doubt about the Company’s ability to continue as a going concern, management must take into account all available information about the future, including estimated future cash flows, for a period of at least twelve months following the end of the reporting period. During the 13-weeks and 39-weeks ended June 6, 2026, the Company recorded a net loss of $ 0.1 million and $9.4 million respectively and had cash used in operating activities of $ 1 million and $2 million respectively, and has negative working capital (current liabilities in excess of current assets) . In addition, as of the date of issuance of these interim condensed consolidated financial statements, Goodfood is evaluating its options in relation to the settlement of the convertible debentures maturing on March 31, 2027 (the “2027 Convertible Debentures”). In the event that the Company does not modify the current terms of the 2027 Convertible Debentures, $29.0 million will become payable on March 31, 2027. Although the Company has the option to redeem its 2027 Convertible Debentures by issuing common shares at or before maturity on March 31, 2027, based on the volume weighted average trading price of the company’s shares on the TSX for the 20 consecutive trading days ending on the fifth trading day preceding the issuance date of the interim condensed consolidated financial statements, the Company would have to issue approximately 173 million common shares. Given that the issuance of this high number of common shares could require shareholders’ approval in certain situations , the Company does not control its redemption right and avoiding cash repayment of the 2027 Convertible Debentures. The Company has relied upon external financing to fund its operations in the past, primarily through the issuance of debt and equity. The Company’s business plan is dependent upon generating positive cash flows, the continued financial support of its share holders or lenders (including either modifying the current
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 6 | Page terms of the 2027 Convertible Debentures or redeeming the 2027 Convertible Debentures using common shares) and/or raising additional funds to finance operations and repay its financial commitments within and beyond the next twelve months. While the Company has been successful in securing financing in the past, modifying the terms of the 2027 Convertible Debentures or obtaining approval for the issuance of common shares for the redemption of the 2027 Convertible Debentures, if applicable, and/or raising additional funds is dependent on a number of factors outside the Company’s control, and as such there is no assurance that it will be able to do so in the future. If the Company is unable to realize its projected revenues and generate positive cash flows from operations, modify the terms of the 2027 Convertible Debentures, obtain approval for the issuance of common shares for the redemption of the 2027 Convertible Debentures, if applicable, and/or obtain sufficient additional financing, it may have to curtail operations and development activities, any of which could harm the business, financial condition and results of operations. Due to the factors described above, Management has concluded that a material uncertainty exists that may cast significant doubt about the Company’s ability to continue operating as a going concern and realize its assets and settle its liabilities and commitments in the normal course of business. The interim condensed consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the amounts and classifications of the assets and liabilities that might be necessary should the Company be unable to achieve its plan and continue in business. If the going concern assumption was not appropriate for the interim condensed consolidated financial statements , then adjustments would be necessary to the carrying value of assets and liabilities, the reported expenses and the classification of items in the interim condensed consolidated statements of financial position. Such adjustments could be material. 2.3 BASIS OF MEASUREMENT The interim condensed consolidated financial statements have been prepared on the historical cost basis except for the following: • assets and liabilities acquired in a business combination which are measured at fair value at acquisition date; • equity share-based payment arrangements which are measured at fair value under IFRS 2 Share-based payments at grant date; • lease receivables and lease obligations, which are measured at the present value of lease payments at lease inception; and • financial instruments measured at fair value through profit and loss including marketable securities and future contingent performance-based payment. 2.4 FUNCTIONAL AND PRESENTATION CURRENCY The interim condensed consolidated financial statements are stated in Canadian dollars, which is the functional and presentation currency of Goodfood. 2.5 SEASONALITY OF THE BUSINESS The Company’s net sales and expenses are impacted by seasonality. During the winter holiday season and summer season, the Company anticipates net sales to be lower as a higher proportion of customers elect to skip their delivery. During periods with warmer weather or very cold weather , the Company anticipates packaging costs to be higher due to the additional packaging required to maintain food freshness and quality. 3. MATERIAL ACCOUNTING POLICIES Material accounting policies applied in these interim condensed consolidated financial statements are the same as those applied to the Company’s annual audited consolidated financial statements for the year ended September 6, 2025.
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 7 | Page 4. SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS The preparation of the Company’s interim condensed consolidated financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, net sales and expenses and accompanying disclosures. Uncertainty about these assumptions and estimates , including the current economic environment, could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. These assumptions and estimates are regularly reviewed. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. The significant judgements made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty are the same as those applied to the Company’s annual audited consolidated financial statements for the year ended September 6, 2025. 5. REORGANIZATION AND OTHER RELATED COSTS In addition, for the 13 and 39 weeks ended June 6, 2026, the Company recorded a recovery of $0.1 million from the reversal of the write- down of inventories and an expense of $0.4 million for the write- down of inventories, respectively, as a result of the Company’s reorganization activities. Th ese recovery and expense were recorded in the cost of goods sold in the interim condensed consolidated statements of (loss) income and comprehensive (loss) income. 6. NET FINANCE COSTS 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Employee termination and benefit costs $ 901 $ – $ 2,568 $ – 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Interest expense on debt $ – $ – $ – $ 26 Interest expense on lease obligations 167 211 542 667 Interest expense on convertible debentures, including accretion interest 1,383 1,371 4,122 4,347 Interest income (112) (209) (497) (714) Fair value changes in marketable securities 197 (461) 1,576 (181) Foreign exchange loss 14 14 34 37 Other finance costs 57 38 161 69 $ 1,706 $ 964 $ 5,938 $ 4,251
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 8 | Page 7. INCOME TAXES 8. CONVERTIBLE DEBENTURES The following table summarizes the continuity of the Company’s Debentures: June 6, 2026 September 6, 2025 Convertible debentures, liability component balance, beginning of period $ 40,871 $ 45,405 Accretion interest 1,490 1,698 Conversion of the Debentures – (6,232) Convertible debentures, liability component balance, end of period $ 42,361 $ 40,871 Current portion (27,418) – Non-current portion $ 14,943 $ 40,871 As at June 6, 2026, the total number of outstanding debentures was 41,721 (September 6, 2025 – 41,721) maturing as follows: Total number of outstanding debentures March 2027 29,046 February 2028 12,675 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Current income tax expense $ 11 $ 39 $ 57 $ 39 Deferred income tax recovery (9) (14) (27) (14) $ 2 $ 25 $ 30 $ 25
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 9 | Page 9. SHAREHOLDERS’ EQUITY COMMON SHARES The Company is authorized to issue an unlimited number of no par value common shares. The movements in common shares were as follows for the 39 weeks ended: June 6, 2026 June 7, 2025 Number of shares Carrying amount Number of shares Carrying amount Balance, beginning of year 98,591,259 $ 188,808 77,340,092 $ 181,727 Debentures repaid in common shares (Note 8) – – 19,184,573 6,186 Restricted share units vested 1,047,982 411 1,899,745 839 Employee share purchase units vested 92,624 12 72,081 12 Purchased and held in trust through employee share purchase plan (78,391) (21) (121,635) (35) Exercise of stock options 21,144 4 – – Balance, end of period 99,674,618 $ 189,214 98,374,856 $ 188,729 (LOSS) INCOME PER SHARE 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Basic weighted average number of common shares outstanding 99,333,005 93,486,557 98,886,080 82,913,098 Dilutive effect of restricted share units and stock options (1) – 569,223 – – Diluted weighted average number of common shares outstanding 99,333,005 94,055,780 98,886,080 82,913,098 (1) Includes 558,485 shares related to restricted share units for the 13 weeks ended June 7, 2025. Issued shares from the exercise of stock options, Debenture conversions and share issuance are weighted from the transaction date. The purchase of common shares to fund the employee share purchase plan is weighted from the transaction date. For the 13 weeks ended June 7, 2025 , the diluted income per share calculation did not take into consideration the potential dilutive effect of unvested shares in connection with the employee share purchase plan and the Debentures conversion option as they are not dilutive. For the 13 weeks ended June 6, 2026, the diluted loss per share calculation did not take into consideration the potential dilutive effect of stock options, restricted share units, unvested shares in connection with the employee share purchase plan and the Debentures conversion option as they are not dilutive. For the 39 weeks ended June 6, 2026 and June 7, 2025, the diluted loss per share calculation did not take into consideration the potential dilutive effect of stock options, restricted share units, unvested shares in connection with the employee share purchase plan and the Debentures conversion option as they are not dilutive.
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 10 | Page 10. SHARE-BASED PAYMENTS RESTRICTED SHARE UNIT PLAN (RSU) 480,000 RSUs were granted during the 39 weeks ended June 6, 2026 (June 7, 2025 – 2,926,250 RSUs granted) and had a weighted average trading price for the five days immediately preceding the grant date of $0.25 per unit (June 7, 2025 – $0.43). The RSUs were granted in the first quarter of Fiscal 2026 to an executive member of the Board. 11. SUPPLEMENTAL CASH FLOW INFORMATION The following summarizes the net changes in non-cash items related to operating working capital: 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Accounts and other receivables $ 655 $ 499 $ 1,270 $ 243 Inventories 618 621 469 767 Other current assets (63) (187) 111 (492) Accounts payable and accrued liabilities (4,827) (2,713) (3,590) (3,416) Deferred revenues (255) (227) (793) (927) $ (3,872) $ (2,007) $ (2,533) $ (3,825) The following had a cash impact in the net cash generated from operating activities for the 13 and 39 weeks ended: 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Operating activities Payments made for reorganization and other related costs (1) $ 1,077 $ – $ 1,687 $ – Payments made related to acquisition costs – 63 – 165 (1) Payments made for reorganization and other related costs are composed of employee termination and benefit costs. The following transactions had no cash impact in the net cash used in investing activities: 13 weeks 39 weeks For the periods ended June 6, 2026 June 7, 2025 June 6, 2026 June 7, 2025 Investing activities Unpaid fixed assets additions $ – $ 188 $ – $ 188
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 11 | Page 12. FINANCIAL INSTRUMENTS AND FINANCIAL RISKS Goodfood has determined that the fair value of cash and cash equivalents, accounts and other receivables, and accounts payable and accrued liabilities approximate their respective carrying amounts at the consolidated statement s of financial position date, due to the short -term maturity of those instruments. Goodfood determined the fair value of its marketable securities using level 1 input. The Company determined the valuation of its Debentures at issuance using Level 1 and 3 inputs. As at June 6, 2026, the Company determined that the fair value of its debentures approximates $1 0.1 million which was determined based on market trading value for 2027 Debentures and market conditions for 2028 Debentures. Liquidity risk: Liquidity risk is the risk that the Company will be unable to fulfill its obligations on a timely basis or at a reasonable cost. The Company manages its liquidity risk by monitoring its operating requirements. The Company prepares budgets and cash forecasts to ensure it has sufficient funds to fulfill its obligations. The Company monitors its risk of shortage of funds by monitoring forecasted and actual cash flows and maturity dates of existing financial liabilities and commitments and is actively managing its capital to ensure a sufficient liquidity position to finance its general and administrative, working capital and overall capital expenditures. In order to manage its liquidity risk, the Company constantly reviews its operations and overall business to drive efficiencies to form the basis for positive cash flow and long-term profitable growth. This assessment could be affected by economic, financial and future competitive factors, and other future events that are beyond the control of the Company. Management’s liquidity assessment could be negatively impacted if the actual operational performance is lower than the one used in the forecasted cash flows. Please refer to Note 2.2 on going concern. Cryptocurrencies Risk: The Company invested in marketable securities that consist of a liquid Bitcoin investment made through a non-currency hedged spot Exchange- Traded Fund (ETF). They are measured at fair value using Level 1 inputs. Fair value changes in marketable securities are recognized in net finance costs in the interim condensed consolidated statements of (loss) income and comprehensive (loss) income. The Company's investment is made through a spot ETF whose value is directly linked to the market price of Bitcoin. As a result, the Company is exposed to the risks inherent in holding an asset whose value is derived from cryptocurrency prices. Cryptocurrency prices are highly volatile and are influenced by numerous factors largely outside the Company's control, including global supply and demand dynamics, interest rates, exchange rates, inflation or deflation, regulatory developments, and broader political and economic conditions. The Company's profitability and financial condition are sensitive to the current and future market price of Bitcoin. A significant decline in Bitcoin's price could have a material adverse effect on the Company's results of operatio ns and financial condition. Based on the fair value of the marketable securities as at June 6, 2026, a 10% change in market price would represent a price risk exposure of $0.2 million.
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GOODFOOD MARKET CORP. Notes to the Interim Condensed Consolidated Financial Statements – June 6, 2026 (Unless otherwise stated, all tabular amounts are in thousands of Canadian dollars – unaudited) 12 | Page Capital management The Company's objective in managing its capital structure is to ensure a sufficient liquidity position to finance its operations and growth and to deliver competitive returns on invested capital. The Company has defined its capital as debt, if any, the liability component of its convertible debentures and its shareholders’ deficit, net of cash and cash equivalents and marketable securities. The Company is not subject to debt covenants. In managing its capital structure, the Company monitors performance throughout the year to ensure anticipated working capital requirements and capital expenditures are funded from operations and available cash. The Company manages its capital structure and may make adjustments to it in order to support the broader corporate strategy or in response to changes in economic conditions and risk. In order to maintain or adjust its capital structure, the Company issues new shares, issue new debt, or reduce the amount of existing debt. The following are amounts due on contractual maturities of financial liabilities, including estimated interest payments as at: June 6, 2026 Total carrying amount Contractual cash flows Less than 1 year 1 to 5 years More than 5 years Accounts payable and accrued liabilities $ 9,947 $ 9,947 $ 9,947 $ − $ − Debentures, liability component (1) 42,361 49,975 32,621 17,354 − Lease obligations, including current portion 8,606 10,077 3,809 6,227 41 $ 60,914 $ 69,999 $ 46,377 $ 23,581 $ 41 September 6, 2025 Total carrying amount Contractual cash flows Less than 1 year 1 to 5 years More than 5 years Accounts payable and accrued liabilities $ 13,683 $ 13,683 $ 13,683 $ − $ − Debentures, liability component (1) 40,871 52,791 3,776 49,015 − Lease obligations, including current portion 10,933 12,636 3,877 8,390 369 $ 65,487 $ 79,110 $ 21,336 $ 57,405 $ 369 (1) This assumes cash settlement. The Company has the option to redeem its 29,046 2027 Debentures in common shares at maturity on March 31, 2027. At the issuance date of these interim condensed consolidated financial statements, the Company would have to issue approximately 1 73 million common shares to redeem its 2027 Debentures if settled in common shares at maturity date, based on the convertible debentures agreement and subject to shareholders’ approval, if required. (Refer to Note 2.2 on Going Concern).