Mr. John Bouffard reports

PINETREE CAPITAL ANNOUNCES CHIEF INVESTMENT OFFICER'S RETURN FROM LEAVE OF ABSENCE

Pinetree Capital Ltd.'s chief investment officer, Shezad Okhai, returned to Pinetree effective Jan. 1, 2026. Mr. Okhai had been on a leave of absence since April 28, 2025, serving as the interim chief executive officer of Bravura Solutions Ltd., one of Pinetree's investees.

About Pinetree Capital Ltd.

Pinetree is a value-oriented investment company focused on enterprise software and technology. Pinetree's common shares are listed on the Toronto Stock Exchange under the symbol PNP.