Ms. Margaux Berry reports

BEWHERE HOLDINGS INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2025 RESULTS

Bewhere Holdings Inc. will release its financial results for the three and 12 months ended Dec. 31, 2025.

Owen Moore, chief executive officer and co-founder, stated, "We enter 2026 on the back of record revenue, gross profit and adjusted EBITDA in 2025, the strongest Q4 in the company's history, including a record level in quarterly adjusted EBITDA and an upcoming product refresh cycle at attractive industry price points that we believe will foster demand."

Chris Panczuk, chief operating officer and co-founder stated: "Two thousand twenty-five offered operating challenges, namely from tariffs, that at present we have overcome with our revised supply chain program. More importantly, in Q4, we surpassed a key operating leverage threshold for the third time in company history as quarterly gross profit from recurring revenue exceeded our operating expenses. This was last achieved in Q4 of 2024 and bodes well for improved profitability going forward as we further scale our product and recurring revenues."

FY (fiscal year) 2025 highlights:

• Total revenue increased by 22 per cent year over year: Total revenue for the 12 months ended Dec. 31, 2025, was $21,457,997, compared with $17,531,574 for the same period in 2024, an increase of $3,926,423. This is a record level for the company.
• Recurring revenue increased by 22 per cent year over year: Total recurring revenue for the 12 months ended Dec. 31, 2025, was $8,444,457, compared with $6,921,208 for the same period in 2024, an increase of $1,523,249.
• Gross profit grew by 21 per cent year over year: Gross profit for the 12 months ended Dec. 31, 2025, was $7,065,339, compared with $5,825,293 for the same period in 2024, an improvement of $1,240,046. This is a record level for the company.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 5 per cent year over year: Total EBITDA for the 12 months ended Dec. 31, 2025, was $2,248,860, compared with $2,138,956 for the same period in 2024, an increase of $109,904. This is a record level for the company.
• Working capital grew by 9 per cent year over year: The company recorded working capital on Dec. 31, 2025, of $8,503,177, compared with $7,822,570 for the same period in 2024, an increase of $680,607.

Fourth quarter 2025 highlights:

• Total revenue increased by 19 per cent year over year: Total revenue for three months ended Dec. 31, 2025, was $5,642,531, compared with $4,680,409 for the same period in 2024, an increase of $962,122. This is a record fourth quarter for the company.
• Recurring revenue increased by 14 per cent year over year: Total recurring revenue for three months ended Dec. 31, 2025, was $2,239,645, compared with $2,007,702 for the same period in 2024, an increase of $231,943. ARR (annual recurring revenue) stands at approximately $8.9-million ending Dec. 31, 2025, versus $7.8-million for the same period in 2024, an increase of 14 per cent year over year.
• Gross profit grew by 25 per cent year over year: Gross profit for the three months ended Dec. 31, 2025, was $2,004,989, compared with $1,648,556 for the same period in 2024, an improvement of $356,433.
• Adjusted EBITDA increased by 52 per cent year over year: EBITDA for the three months ended Dec. 31, 2025, was $835,102, compared with $549,488 for the same period in 2024, an improvement of $285,614. This is a record level for quarterly adjusted EBITDA.

Non-IFRS (international financial reporting standards) measures

Adjusted EBITDA is a non-IFRS measure and does not have standardized meaning as it relates to performance measures, and may not be comparable with other issuer disclosures of similar performance measures. The company has provided a reconciliation of adjusted EBITDA to IFRS profit (loss) in the management's discussion and analysis for the period ended Dec. 31, 2025. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, and other non-recurring gains and losses. Management believes that adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted EBITDA should not be considered superior to IFRS net income (loss).

About Bewhere Holdings Inc.

Bewhere specializes in low-power 5G IoT (Internet of things) wide-area tracking technology, creating remote monitoring solutions that address cost, power and environmental challenges. Over the last six years, the company has experienced rapid growth, collaborating with Fortune 500 companies, top resellers and installers to deploy hundreds of thousands of trackers across numerous sectors, including transportation, construction, logistics, utilities, health and government.

Bewhere's tracking solutions are designed to be both cost-effective and simple to implement, significantly expanding the scope of assets that can be connected. These connected devices generate data that powers intelligent AI (artificial intelligence) management platforms. By increasing the number of connected devices, Bewhere enhances the capabilities and growth potential of AI solutions.

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