(via TheNewswire)

Surrey, BC – October 21, 2026 – TheNewswire – Icarus Capital Corp. (TSX-V: ICRS) (“Icarus” or the “Company”) has adopted semi-annual financial reporting (“SAR”) pursuant to Coordinated Blanket Order 51-933 -- Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.

The blanket order allows eligible venture issuers listed on the TSX Venture Exchange to voluntarily move from a quarterly to a semi-annual financial reporting framework. By adopting SAR, the company aims to reduce the administrative and financial burden associated with quarterly reporting.

The company's fiscal year ends on December 31. Under the SAR pilot program, the company will no longer file interim financial reports and related management's discussion and analysis (MD&A) for its three-month and nine-month interim periods. The initial interim period for which the company will not file is the three-month period ended September 30, 2026.

The company will continue to file audited annual financial statements and MD&A (due 120 days after December 31) and unaudited six-month financial statements and MD&A (due 60 days after June 30).

The company remains committed to timely disclosure and will continue to report all material changes and significant developments as required under National Instrument 51-102 -- Continuous Disclosure Obligations and the policies of the TSX-V.

This news release is being issued and filed pursuant to the blanket order.

About Icarus Capital Corp:

Based in Surrey, BC, Canada, Icarus Capital Corporation specializes in live and digital entertainment, primarily focused on stand-up comedy. The Company is publicly traded on the TSX Venture Exchange (TSX-V) 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 EventsMore details can be found at www.icaruscapital.ca .

FURTHER INFORMATION

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the transactions; the business plans of Icarus; use of funds; and the business and operations of the Issuer. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay and failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Icarus disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

For further information regarding the above, please contact:

• Eric Lapoiinte, Chief Operating Officer, Icarus Capital Corp.  

• Email: info@icaruscapital.ca  

• Telephone: +1-604-600-2490  

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES

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