Mr. Eugene Cherny reports

CHEELCARE ANNOUNCES FIRST QUARTER FISCAL 2027 FINANCIAL RESULTS

Cheelcare Inc. today released its financial results for the three months ended July 31, 2026.

Operational highlights (three months ended July 31, 2026)

• Companion reimbursement and market access: The company continued to advance companion's United States commercialization following PDAC verification and Medicare and Medicaid reimbursement eligibility received in January, 2026, with increased engagement across its dealer, clinician and funding networks.
• Canadian patent issued for companion platform: In May, 2026, the Canadian Intellectual Property Office granted Canadian patent No. 3,090,535 covering core technologies underlying the companion power-assist platform. The patent complements the company's existing U.S. patent protection and provides additional intellectual property protection for companion in North America.
• $3.02-million private placement completed: On July 3, 2026, Cheelcare completed an upsized private placement for gross proceeds of $3.02-million, providing additional capital to support commercialization, product development and working capital.
• Curio engineering and regulatory work continued: Cheelcare continued engineering and validation activities for Curio in support of a future resubmission under Ontario's Assistive Devices Program and continued to advance the U.S. FDA 510(k) process. Cybersecurity testing for Curio has been completed.
• Numotion Commercial Growth Summit: Subsequent to quarter-end, Cheelcare participated in Numotion's Commercial Growth Summit in Denver, presenting companion to clinicians, assistive technology professionals and other decision makers within one of North America's largest complex rehab technology networks.

First quarter financial highlights (three months ended July 31, 2026)

• Revenue of $828,516, compared with $417,981 in Q1 fiscal 2026, representing an increase of approximately 98 per cent.
• Gross profit of $481,637, representing a gross margin of 58.1 per cent, compared with a gross profit of $212,787 and a gross margin of 50.9 per cent in Q1 fiscal 2026.
• Net loss of $501,008, or two cents per share, compared with a net loss of $1,630,108, or 15 cents per share, in Q1 fiscal 2026. The prior-year period included a significant listing expense associated with the company's reverse takeover.
• Cash and cash equivalents of $2.4-million at July 31, 2026, compared with $163,416 at April 30, 2026.

Subsequent to quarter-end, the company repaid its outstanding bank loans with the Business Development Bank of Canada in full.

"Q1 is the first full quarter where we are beginning to see the commercial impact of companion's Medicare and Medicaid reimbursement eligibility in the United States, which was received in January, 2026," said Eugene Cherny, chief executive officer of Cheelcare. "That expanded access, together with the growth of our dealer and clinician network, is creating more opportunities to put companion in the hands of users who can benefit from it. Our focus now is on converting that broader reimbursement access and distribution footprint into sustained companion growth, continuing to improve manufacturing efficiency as volumes increase, and advancing Curio through the engineering, validation and regulatory work required for broader commercialization."

About Cheelcare Inc.

Cheelcare designs and manufactures innovative mobility solutions that empower independence for people with disabilities. From the companion power assist devices to the groundbreaking Curio robotic complex-rehab power wheelchair, Cheelcare combines engineering excellence with human-centred design to improve quality of life.

We seek Safe Harbor.