Novra Technologies : Consolidated financial statements - Q1 2026

About this update from Novra Technologies Inc.

CONSOLIDATED FINANCIAL STATEMENTS Three Months ended March 31, 2026 and 2025 (Expressed in Canadian Dollars) [Notice: These interim condensed consolidated financial statements have not been audited or reviewed by Novra's independent auditor.] Table of Contents Condensed Consolidated Statements of Financial Position 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 4 Condensed Consolidated Statements of Changes in Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Consolidated Financial Statements: Note 1 - General Information 7 Note 2 - Basis of Preparation and Presentation 7 Note 3 - Current Assets 8 Note 4 - Right-of-use Assets 8 Note 5 - Related Party Transactions 8 Note 6 - Borrowings 10 Note 7 - Shareholders' Equity 10 Note 8 - Depreciation and Amortization 11 Note 9 - Finance Income and Finance Costs 11 Note 10 - Revenues 11 Note 11 - Commitments and Contingent Liabilities 13 Note 12 - SNAPS Convertible Loan Agreements 13 NOVRA TECHNOLOGIES INC. CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Canadian dollars) NOTES March 31, 2026 December 31, 2025 ASSETS Current Assets Cash 3(a) $ 4,110,176 $ 1,467,032 Trade and other receivables 3(b) 217,157 947,725 Inventories 792,521 856,753 Prepayments and other 78,850 78,100 Total Current Assets 5,198,704 3,349,610 Non-Current Assets Equipment 72,921 70,431 Right-of-use assets 4 539,660 595,778 Intangible assets 1,707,841 1,693,114 Total Non-Current Assets 2,320,422 2,359,323 TOTAL ASSETS $ 7,519,126 $ 5,708,933 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Trade and other payables $ 593,553 $ 845,503 Borrowings 6 339,014 338,506 Lease liabilities 11(a) 242,721 250,664 Customer deposits 297,874 186,514 Deferred revenue - current portion 722,263 1,039,578 Advances from related parties 5(c) 1,363,509 1,871,779 Total Current Liabilities 3,558,934 4,532,544 Non-Current Liabilities Borrowings 6 2,040,386 2,002,199 Lease liabilities 11(a) 467,794 525,296 Deferred revenue 188,595 214,554 Promissory notes from related party 5(d) - 1,410,821 Total Non-Current Liabilities 2,696,775 4,152,870 TOTAL LIABILITIES $ 6,255,709 $ 8,685,414 Equity Share capital 7 $ 12,405,749 $ 8,053,749 Contributed surplus 500,576 500,576 Accumulated other comprehensive gain (loss) (88,683) (50,910) Accumulated deficit (11,201,966) (11,270,648) TOTAL EQUITY ATTRIBUTABLE TO SHAREHOLDERS OF NOVRA 1,615,676 (2,767,233) Non-Controlling Interests (352,260) (209,248) TOTAL EQUITY 1,263,417 (2,976,481) TOTAL LIABILITIES AND EQUITY $ 7,519,126 $ 5,708,933 The accompanying notes are an integral part of these Consolidated Financial Statements NOVRA TECHNOLOGIES INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Canadian dollars, except share data) Quarter Ended March 31, NOTES 2026 2025 REVENUE COST OF REVENUE 10 $ 893,078 382,464 $ 1,391,603 783,097 GROSS PROFIT 510,614 608,506 OPERATING EXPENSES General and administrative 317,340 349,205 Sales and marketing 157,343 182,712 Research and development 311,132 236,413 Total operating expenses 785,815 768,330 OPERATING INCOME (LOSS) (275,201) (159,824) Other Income (Expenses) Foreign exchange gain (loss) 108,401 4,717 Finance income 9(a) 5,892 3 Debt forgiveness 9(c) 100,000 676,120 Finance costs 9(b) (13,421) (40,052) INCOME (LOSS) BEFORE INCOME TAXES (74,329) 480,964 Income tax recovery (expense) - - NET INCOME (LOSS) $ (74,329) $ 480,964 OTHER COMPREHENSIVE INCOME, NET OF TAXES Foreign Currency Translation Adjustments on Wegener Consolidation (37,773) 3,479 Total other comprehensive income (loss), net of taxes (37,773) 3,479 COMPREHENSIVE INCOME (LOSS) $ (112,102) $ 484,443 EARNINGS (LOSS) PER SHARE: Basic $ 0.0021 $ 0.0170 Diluted $ 0.0021 $ 0.0170 Weighted average number of shares outstanding - basic 33,420,293 33,420,293 Weighted average number of shares outstanding - diluted 33,420,293 33,420,293 NET INCOME (LOSS) ATTRIBUTABLE TO : Shareholders of Novra $ 68,682 $ 568,706 Non-controlling interest (143,012) (87,742) $ (74,329) $ 480,964 COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO: Shareholders of Novra $ 30,909 $ 572,185 Non-controlling interest (143,012) (87,742) $ (112,102) $ 484,443 The accompanying notes are an integral part of these Consolidated Financial Statements NOVRA TECHNOLOGIES INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Canadian dollars, except share data) Number of Common Accumulated Other Contributed Comprehensive Accumulated Non-Controlling Total Shareholders' NOTES Shares Common Shares Surplus Loss Deficit Interest Equity At January 1, 2026 Total 35,420,293 $ 8,313,749 $ 500,576 $ (50,910) $ (11,270,648) $ (209,248) $ (2,716,481) Less: common shares held by subsidiary (2,000,000) (260,000) (260,000) 33,420,293 8,053,749 500,576 (50,910) (11,270,648) (209,248) (2,976,481) Net income (loss) - - - - 68,682 (143,012) (74,329) Change in foreign currency translation - - - (37,773) - - (37,773) Shares paid for in advance 7(a) - 4,352,000 - - - - 4,352,000 Share based compensation - - - - - - - Options Exercised - - - - - - - Cancellation of common shares - - - - - - - At March 31, 2026 33,420,293 $ 12,405,749 $ 500,576 $ (88,683) $ (11,201,966) $ (352,260) $ 1,263,417 NOTES Number of Common Shares Common Shares Contributed Surplus Accumulated Other Comprehensive Loss Accumulated Deficit Non-Controlling Interest Total Shareholders' Equity At January 1, 2025 Total 35,420,293 $ 7,632,749 $ 500,576 $ (184,304) $ (12,019,550) $ (164,410) $ (4,234,939) Less: common shares held by subsidiary (2,000,000) (260,000) (260,000) 33,420,293 7,372,749 500,576 (184,304) (12,019,550) (164,410) (4,494,939) Net income (loss) - - - - 568,706 (87,742) 480,964 Change in foreign currency translation - - - 3,479 - - 3,479 Share based compensation - - - - - - - Options Exercised - - - - - - - Cancellation of common shares - - - - - - - At March 31, 2025 33,420,293 $ 7,372,749 $ 500,576 $ (180,825) $ (11,450,844) $ (252,152) $ (4,010,496) The accompanying notes are an integral part of these Consolidated Financial Statements

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