Pinetree Capital Ltd Announces Audited Financial Results for the Year Ended December 31, 2025 and Director Appointment

About this update from Pinetree Capital Ltd.

TORONTO, ON / ACCESS Newswire / March 4, 2026 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or the "Company") today announced its financial results for the year ended December 31, 2025. All figures provided in this press release are in $000's except per share amounts and shares outstanding. Financial results for the three months and year ended December 31, 2025 The following information should be read in conjunction with our annual audited Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards ("IFRS") and our annual Management Discussion and Analysis for the year ended December 31, 2025, which can be found on SEDAR+ at www.sedarplus.ca. Selected Financial Information 1 Refer to "Use of Non-IFRS Financial Measures" Shares Outstanding and Equity amounts are as at the Quarter End date. Expense amounts are for the Three months ending the Quarter End date As at December 31, 2025, Pinetree's equity was $87,586 which compares to $77,699 as at December 31, 2024. This resulted in Pinetree's BVPS increasing from $8.28 as at December 31, 2024 to $9.33 as at December 31, 2025. The change represents an increase of $1.05 or 13%. Compared to the prior period, Pinetree's BVPS has declined approximately 1%. Since the end of the period, the software and technology sector has continued to face headwinds and the value of several of Pinetree's investments has continued to decline. Expenses for the twelve months ended December 31, 2025 were $1,640 which corresponds to 1.9% of equity as at December 31, 2025. This compares to expenses of $939 for the twelve months ended December 31, 2024 which corresponds to 1.2% of equity as at December 31, 2024. Included in expenses are foreign exchange fluctuations resulting from cash balances held in currencies other than Canadian Dollars. The net investment losses for the three months ended December 31, 2025 were $523 (three months ended December 31, 2024 - gains of $17,788) as a result of net realized gains on investments and the net change in unrealized gains. For the three months ended December 31, 2025, other income totalled $77 (three months ended December 31, 2024 - $25). Other income is comprised of dividend income of $68 and interest income of $9 (three months ended December 31, 2024 - interest income of $10 and dividend ...

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