Mr. Eric Lapointe reports

ICARUS CAPITAL REPORTS 30% REVENUE GROWTH AND POSITIVE NET INCOME FOR FIRST HALF OF 2026

Icarus Capital Corp. has released its financial results for the three and six months ended June 30, 2026, highlighted by approximately 30-per-cent year-over-year revenue growth and positive net income for the six-month period.

Highlights:

• Financial performance: Revenue for the first six months of 2026 increased approximately 30 per cent to $863,431, compared with $666,643 for the corresponding period in 2025. The company recorded net income of $4,174, compared with a net loss of $47,009 in 2025.
• Historical obligations: The company's results included $61,059 in forgiveness of debt related to the resolution of certain historical obligations.
• Private placement: The company received $70,000 in proceeds for shares to be issued under its current private placement financing, which remains subject to applicable regulatory approvals and closing conditions.
• General and administrative expenses: General and administrative expenses increased to $336,499 from $221,763 for the corresponding period in 2025, primarily driven by increased professional fees resulting from audit, accounting and legal services.

"We are pleased with the progress reflected in our first-half results, particularly the growth in revenue and improvement in our overall financial performance," said Eric Y. Lapointe, chief executive officer of Icarus Capital.

"Our growth strategy has focused on expanding our programming in a measured way while making greater use of the infrastructure and relationships we already have in place," said Arjun Rudra, chief financial officer of Icarus Capital. "During the first half of 2026, we continued to add new shows and enter additional markets while remaining focused on the economics of each opportunity. We believe this disciplined approach is beginning to be reflected in our operating results."

The company's unaudited interim financial statements and management discussion and analysis for the three and six months ended June 30, 2026, are available under the company's profile on SEDAR+.

About Icarus Capital Corp.

Based in Surrey, B.C., Canada, Icarus Capital specializes in live and digital entertainment, primarily focused on stand-up comedy. The company is publicly traded on the TSX Venture Exchange under the ticker symbol ICRS. Its current assets include the Yuk Yuk's Calgary Comedy Club, Yuk Yuk's Surrey Comedy Club, Yuk Yuk's Media and Yuk Yuk's Western Canadian Theatre Shows.

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