Enwave Corporation · TSXV:ENW
Enwave — Investor Presentation (February 2026)
26 slides from Enwave's investor presentation, Feb 20, 2026
Slide 1: Innovative Technology. Scalable Business. Diversified Royalties.
Innovative Technology. Scalable Business. Diversified Royalties. Corporate Presentation February 2026 TSX-V:ENW
Slide 2: Disclaimer
Disclaimer TSX-V: ENW | www.enwave.net This presentation contains forward-looking information based on management’s expectations, estimates and projections about the future, including statements about EnWave’s strategy for growth, product development, market position, expected expenditures and opera
Slide 3: Corporate Profile
Corporate Profile TSX-V: ENW | www.enwave.net • EnWave is the global leader in the innovation Capital Structure (February 19, 2026) and application of vacuum microwave Ticker Symbol ENW dehydration, also known as REV™, a superior, Last Price $0.34 consistent, scalable, and proven way to dry 52-Week
Slide 4: Our Goals
Our Goals TSX-V: ENW | www.enwave.net Create Highly Diversified Global Maintain Healthy Margins Via Royalty Portfolio REVTM Sales & Royalties Propagate REVTM technology to create a Manufacture and sell REVTM machines at highly diversified portfolio of royalties a healthy margin, paired with long-lif
Slide 5: Unique Technology, Unique Business Model: 3 Paths to Profit
Unique Technology, Unique Business Model: 3 Paths to Profit TSX-V: ENW | www.enwave.net 1 Sales & Rentals 2 REV™ Royalties 3 Toll Drying Service Made up 82% of EnWave’s Source of perpetual Toll drying enables food total revenue in FY25. cash royalties for the life of companies to launch REV- Include
Slide 6: Growing Stream of Recurring Revenue from REV Royalties
Growing Stream of Recurring Revenue from REVTM Royalties TSX-V: ENW | www.enwave.net Key Royalty Growth Drivers • Sales of new REV™ machines • Commissioning of previously signed Commercial License Agreements • Increased customer utilization of outstanding REV™ machines $2.5M Base Royalty CAGR: 25.5%
Slide 7: Steadily Growing Base of Deployed REV Machines
Steadily Growing Base of Deployed REVTM Machines TSX-V: ENW | www.enwave.net • Installed kW capacity is a key driver of royalty generation in addition to machine utilization 3,000 2,686 12.0% CAGR 2,549 2,500 2,371 2,083 1,993 2,000 1,523 1,500 1,000 500 0 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 S
Slide 8: Expansive & Scalable Business Model
Expansive & Scalable Business Model TSX-V: ENW | www.enwave.net …Generates… …Creating… REV™ Machine Incremental Robust EBITDA Sales Capacity Royalty Revenues Potential Natural Scalability Recurring & Stable Margin Growth Compact production footprint Smoothens quarter-over- Driven by high-margin roya
Slide 9: Our Global Platform: 50+ Blue-Chip Partners Across 25+ Countries
Our Global Platform: 50+ Blue-Chip Partners Across 25+ Countries TSX-V: ENW | www.enwave.net 8
Slide 10: Our Partners
Our Partners Spanning 24 countries and five continents, EnWave’s licensed partners create profitable snacks and ingredients with the company’s patented technology. 9
Slide 11: A Large and Growing Market Supported by Positive Trends
A Large and Growing Market Supported by Positive Trends TSX-V: ENW | www.enwave.net Increased Consumer Health Awareness & Snacking • REV™-dried products retain more nutrients and have superior taste than traditional freeze-drying methods 7% CAGR • 90% of consumers are snacking at least once a day, 6
Slide 12: Recent Wins
Recent Wins TSX-V: ENW | www.enwave.net • February 2, 2026 – Sold a 10kW REVTM machine and signed a commercial licence agreement with Bowen Gumlu Grower's Association of Australia, a fruit and vegetable industry body in North Queensland with a broad member base • November 12, 2025 – Signed a commerc
Slide 13: Transformational Technology: EnWave's Patented REV Technology
Transformational Technology TSX-V: ENW | www.enwave.net EnWave’s Patented REV™ Technology Microwaves heat water molecules uniformly from within vs from outside-in with traditional methods REV™ stands for “Radiant Energy Vacuum” It’s our own patented process of vacuum microwave drying that dehydrates
Slide 14: Solving The Problem & Capitalizing On Opportunity
Solving The Problem & Capitalizing On Opportunity TSX-V: ENW | www.enwave.net Commercial drying is integral to food, cannabis, and pharmaceutical production, but the traditional methods of freeze-drying, air drying and other incumbents aren’t enough to meet industry needs. • There’s no room for inno
Slide 15: 9+ Ways REV Technology Wins
9+ Ways REV™ Technology Wins TSX-V: ENW | www.enwave.net Dry better, faster. Opportunity for Higher Quality More Control and Reduced Footprint Fast, Gentle Drying Innovation Products Consistency Never-before-seen Better nutrition, taste, Precise, volumetric, Up to 30% less About 5x faster than produ
Slide 16: Where REV Fits in The Global Market
Where REV™ Fits in The Global Market TSX-V: ENW | www.enwave.net Core Markets Adjacent Markets • Nutritious powders Fruits • Chewy bites & Veg • Crunchy snacks 19 • Superior taste/colour • Preserves taste, Smoked • Plant-based jerkies smell, appearanc e and flower • Shelfable, snackable Dairy cheese
Slide 17: Why Do Customers Choose EnWave?
Why Do Customers Choose EnWave? TSX-V: ENW | www.enwave.net EnWave is the global leader in the innovation and application of vacuum microwave dehydration, and the creator of REV™ technology. Since 2009, it has been our mission to partner with food and cannabis companies who are looking for a reliabl
Slide 18: Case Study: REV vs Air Drying vs Freeze Drying
Case Study: REVTM vs Air Drying vs Freeze Drying TSX-V: ENW | www.enwave.net Executive Summary of Study1: Sensory Evaluation of Carrot Drying by Method1: • REV-dried broccoli, oranges, and carrots prepared by the optimal drying protocols were compared to freeze- and air-dried samples based on the nu
Slide 19: 3 Step Sales Process
3 Step Sales Process TSX-V: ENW | www.enwave.net 1 Collaborative R&D 2 License & Rollout 3 Royalties & Support Prospects visit our facility and REV machines (usually larger- Active REV units begin work with our team of experts scale units) are sold with a generating royalties while we to explore the
Slide 20: REV Machines
REVTM Machines TSX-V: ENW | www.enwave.net 10kW REV System 60kW REV System 120kW REV System Freq: 2450 mHz Freq: 2450 mHz Freq: 2450 mHz Vacuum: 12-300 Torr Vacuum: 25-300 Torr Vacuum: 23-300 Torr Size: 7.9 x 5.8 ft Size: 38.3 x 12.5 ft Size: 55.7 x 14.8 ft (2.4 x 1.8 m) (12.2 x 4.6 m) (16.6 x 4.6 m
Slide 21: Fully-Funded to Advance 2025-2026 Global Sales Growth Pillars
Fully-Funded to Advance 2025-2026 Global Sales Growth Pillars TSX-V: ENW | www.enwave.net Up to $5M of Non-Dilutive Financing + Recent $3M LIFE Offering Driving Enhanced Global Sales Strategy Led by New VP Global Sales and Business Development, European Hire, and Augmented Machine Leasing Capabiliti
Slide 22: Investment Highlights
Investment Highlights TSX-V: ENW | www.enwave.net Innovative Competitive Large, Diverse & Blue-Chip Platform Technology Advantages Growing Market & Customers Solution to a Problem, First-Mover, 18 Patents, $9B annual machine 50+ Established Brands Superior Outcomes, Blue-Chip References TAM and $200
Slide 23: Management
Management TSX-V: ENW | www.enwave.net Brent Charleton, President & CEO • Accomplished leader with expertise in finance, business development, and capital Mehmet Sucu, Chief Engineer markets • A registered Professional Engineer with EGBC who has been with EnWave since 2011 • Demonstrated ability to
Slide 24: Board of Directors
Board of Directors TSX-V: ENW | www.enwave.net John P.A. Budreski, Executive Chairman • 30+ years of extensive capital markets • Executive experience including roles at Brent Charleton, President & CEO Scotia Capital, Cormark Securities and • Accomplished leader with expertise in multiple advisory a
Slide 25: REV vs Air vs Freeze Drying
REVTM vs Air vs Freeze Drying TSX-V: ENW | www.enwave.net Drying Result1 Freeze Dried Air Dried REVTM Dried Time 15-25 hours 8 hours 1-2 hours Taste Concentrated Mild Intense Texture Styrofoam Tough/Crumbly Chewy or Crunchy Color Bleached Dark Brilliant Aroma Little Mild Intense Nutrition Very High
Slide 26: Our Goals
Our Goals TSX-V: ENW | www.enwave.net Create Highly Maintain Healthy Hit Sales Mix That Utilize Free Cash Diversified Global Margins Via REVTM Flows Royalties to Flow For Growth & Royalty Portfolio Sales & Royalties Bottom Line Capital Returns Propagate REVTM Manufacture and sell Generate enough Use