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PlurilockTM Q1 2025 Presentation June 2025 Privileged and confidential Cybersecurity and Emerging Technology Solutionsfor North American Government and Enterprise Clients
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2 © 2025 Plurilock Security Inc. DisclaimerThis presentation is not to be construed as a public offering or offering memorandum of the Company’s securities in any jurisdiction. The information in this presentation is for information purposes only. It is not intended as investment, financial or other advice. Unless noted otherwise, all financial information contained herein should be considered unaudited. There is a risk that audited information will differ significantly from the financial information presented herein and that technical and financial assumptions, objectives and projections may fail to materialize. The information provided herein is management’s best understanding as of this date of the potential of the Company and the related financial benefits, but it is the responsibility of the potential investor to form its own opinion contrasting the information provided with other sources of information for completeness and reasonableness.Forward-Looking StatementsCertain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of any shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company; (vi) completion of the Company’s initiatives that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Risks and uncertainties include those stated in the Management Discussion and Analyses for the year ended December 31, 2024, and the quarter ended March 31, 2025, and in the Company’s other public filings on the Canadian Securities Administrators’ website at www.sedarplus.ca.Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. ConfidentialityThe information contained in this presentation is for discussion purposes only and is strictly confidential information of the Company. This presentation is furnished to you on a confidential basis solely for the purpose of providing you with information regarding the Company. By your acceptance hereof, you covenant that neither you nor your agents, representatives, directors or employees will copy, reproduce or distribute this presentation or the information herein to others, in whole or in part, at any time, without the prior written consent of the Company and that you will keep confidential this presentation, the information herein and any information otherwise obtained from the Company.
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3 © 2025 Plurilock Security Inc. 3 © 2025 Plurilock Security Inc. Corporate Presentation • Business Overview IT and Cybersecurity SolutionsTrusted by the worlds most prestigious organizations. We are loyal to the customer, not a technology. HIGHLIGHTED CUSTOMERSNASAUS DoDUS ArmyUS NavyUS Air ForceUS Marine CorpUS TreasuryUS Federal Trade CommissionUS Department of CommerceUS Department of AgricultureUS Department of EnergyUS Department of InteriorUS Department of Justice Salesforce.comFortinetEntrust DatacardCylanceMicrosoft Corp.Tenable SecurityAdobeAutodeskSAP SE Dell TechnologiesAtlassian SoftwarePalo Alto NetworksMenlo SecurityVMware US Department of TransportationUS Department of Homeland SecurityOffice of Executive of the PresidentCaliforniaGovernment Agencies§5th largest economy in the worldCanadian Air Transport Security Authority Canadian Department of National DefenseRoyal Canadian Mounted PoliceBlue Chip Publicly Traded Companies§Financial Services, Healthcare, Pharmaceutical, Manufacturing, Semiconductors HIGHLIGHTED STRATEGIC AND TOP PARTNERSCrowdStrike (CRWD:NSDQ)TD SYNNEX (SNX:NYSE)§Proprietary SaaS software: All-in-one cloud and identity protection platform for commercial customers, sold direct and indirect through Solutions Division §Solutions Division: Full line of leading IT and cybersecurity solutions, with trusted, established sales relationships, master service agreements, and ARR— repeatable purchasing contract behavior across governments and enterprises §Tech-enabled Services: Enterprise cybersecurity and resilience engineering sold direct and indirect through Solutions Division and strategic alliances
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4 © 2025 Plurilock Security Inc. Q1 2025 Business UpdateBusiness Update §Total reported revenue $19M, an increase of 48% over the $12.8M adjusted Q1 2024 amount§Critical Services business grew 178% year-over-year to $3.9M§Gross profit increased 28% to $2.3M §Announced ~$10M in new business across a range of high-value clients§Including multi-year Critical Services contracts in both the U.S. commercial and public sector markets§Strategic partnerships, including Forcepoint, have already resulted in direct referrals and closed business
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5 © 2025 Plurilock Security Inc. Services and software focus translating to increased profitability Income statement performance §Focus on software resell changing business mix and improving resell margins §Margin held in mid teens (12.2%), impacted by increasein resale revenue $12,835,308 $19,040,614 Q1 2024Q1 2025 Revenue $11,427,510$15,125,707$1,407,798$3,914,907 Q1 2024Q1 2025 Services Revenue Growth Resale / OtherServices $1,819,272$2,328,861 Q1 2024Q1 2025 Gross Profit Q1 2024Q1 2025 14.2%12.2%
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6 © 2025 Plurilock Security Inc. Improving our debt and working capital deficitBalance sheet §Net working capital (CA – CL) improves $2.2M§Total balance sheet improvement of $4.3M§Additional $7.8M in unused credit facilities§Cash deployed to reduce interest expense via working capital loop March 31, C$000s
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7 © 2025 Plurilock Security Inc. OutlookStrong momentum and a clear strategy §Continued momentum across our key strategic priorities: margin expansion, growth in Critical Services, and the continued shift from hardware-centric sales to software and services.§Successful implementations driving increased interest: Company is experiencing a notable increase in word-of-mouth referrals from customers and demand pull from partners.§Expanding services footprint under a proven model and there is a broader industry dynamic in which services can often generate up to two dollars in revenue for every dollar of product sold.§Expanding our presence in the U.S. commercial market, deepening relationships with public sector clients, and pursuing higher-margin opportunities that will improve operating leverage.§Strong start to 2025 driven by the productivity of new team members, improved partner-driven deal flow, and growing demand for managed and project-based Critical Services.
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Contact Sign up to receive investor updateshttps://plurilock.com/company/investors/ Ian L. PatersonCEOian@plurilock.com1.416.800.1566 Scott MeyersCFOscott.meyers@plurilock.com1.416.854.0078 Ali HakimzadehExecutive Chairmanali@sequoiapartners.ca1.604.306.5720 Sean PeasgoodInvestor Relationssean@sophiccapital.com1.905.364.4746