Mr. David Michaud reports

PARVIS ANNOUNCES THE FILING OF ITS AUDITED FINANCIAL STATEMENTS AND MD&A FOR THE YEAR ENDED MARCH 31, 2024

Parvis Invest Inc. has completed the process of filing its audited consolidated financial statements and management's discussion and analysis for the year ended March 31, 2024. For full financial information, notes and management commentary, please refer to the company's management's discussion and analysis and the consolidated financial statements for the year ended March 31, 2024, available on SEDAR+.

"Our 2024 audited results showcase the remarkable progress Parvis has made in refining our platform and accelerating revenue growth," said David Michaud, Parvis chief executive officer and director. "Our success this year stems from strategic partnerships and targeted tech enhancements, which have expanded our investor base and positioned us for significant growth. With a robust network and ecosystem partners, we've established ourselves as the leading private equity marketplace in Canada, and we're ready to seize the next wave of opportunities."

Financial results full-year highlights

Financial growth: Two thousand twenty-four was the first year of revenue for Parvis. The company generated over $180,000 in revenue primarily in the past two quarters. Parvis also has deferred revenues of over $100,000 for 2025, which are sales for which the company has been paid, but services are still to be delivered. With our partnership with over 30 issuers clients, we anticipate the cash flow from sales will continue to be larger than reported revenue.

Strategic focus: The company continues to focus on the path to profitability and increasing near-term and long-term revenues through multiple streams such as EMDsolutions, the Parvis Direct Access Fund and secondary market service.

New business-to-business clients: Since its public debut in March, 2023, with no sales, Parvis has achieved nearly $300,000 in sales as of March 31, 2024. This growth is attributed to the addition of over 30 private equity issuers, including real estate investment trusts, real estate developers and mortgage investment corporations, which have seamlessly connected investors across Canada through Parvis's tech-enabled platform. The sales figures include over $180,000 in revenue earned and more than $100,000 in deferred revenue from client payments.

Parvis's strategy and effective collaboration with its clients and partners have significantly expanded the accessibility and efficiency of private asset markets. Notable new exempt market dealer issuer clients include:

• Core Development Group Ltd., a Toronto-based real estate development company that actively sources, capitalizes, develops and manages a wide range of real estate projects and has an impressive portfolio of over 2,275 residential units with over $1.55-billion in projected completion value;
• Lankin Investments, a Toronto-based prominent asset management firm from Ontario, boasts a $750-million portfolio that encompasses over 2,000 multifamily units and more than 1,000 units under development; Lankin's collaboration with Parvis introduces its Pulis Real Estate LP2, offering investors a share in a diversified portfolio of multifamily real estate across Canada.
• Revesco REIT, an established perpetual-life REIT with over $100-million in assets under management, specializes in acquiring ownership in open-air shopping centres and mixed-use properties across the United States, focusing on dynamic trade areas with diversified economies; Revesco REIT operates as a nimble and responsive boutique real estate investment and management firm based in Denver, Colo.

These strategic partnerships highlight Parvis's focus on enhancing the scope and accessibility of high-quality real estate investments. By leveraging its cutting-edge platform, Parvis continues to broaden its market footprint, increase revenue streams and improve investment-handling efficiencies.

Technology development: As previously announced and with the objective of harnessing advanced technology to enhance its issuer clients' capital-raising processes, it has integrated to its platform, the Parvis investor referral program, aimed at enhancing the efficiency of investor processing and refining the capital-raising process. It also leveraged artificial-intelligence-driven field placement technology and upgraded its agreement automation capabilities to increase agreement-building efficiency and streamline the investment processing flow. Parvis also expanded its regulatory suitability assessments to include additional different data points, allowing for more tailored and informed private market investment advice. It will continue to make platform improvements in the next year.

Navigating growth and market dynamics: As Parvis advances its growth trajectory, the company is committed to continuously refining its operations and learning from client feedback. It acknowledges that every growing business faces its share of challenges, especially in volatile market environments. Its team remains agile, adapting to evolving market trends and economic conditions.

Strategic adaptability: In response to market challenges, it is dedicated to implementing new strategies and adjustments that align with its long-term vision. While market fluctuations and economic pressures pose obstacles, its confidence in its strategic direction remains steadfast.

Commitment to value creation: It is proud of its achievements and progress thus far. Its focus remains on delivering long-term value to its shareholders by maintaining a dynamic and responsive approach to the market's demands. Despite the hurdles, its continuing commitment is to ensure sustained growth and shareholder satisfaction.

Financial and operational performance update

Cash position and fiscal year 2025 financial guidance: As of March 31, 2024, Parvis holds a robust cash balance of $1.73-million, with expectations to sustain this balance above $1-million. It projects a significant ramp-up in sales over the next 12 months, with anticipated revenue reaching $1.5-million for 2025. It also foresees reaching a break-even cash flow by third quarter 2025, followed by a pathway to profitability.

Platform growth metrics: In the most recent calendar quarter, Parvis demonstrated remarkable growth. Transactions on its platform surged by 273 per cent compared with the entire 2023 calendar year. Concurrently, total transaction dollars increased by 806 per cent, and the average transaction size rose by 296 per cent. These metrics reflect a strong upward trajectory in platform activity, indicating a growing capacity for higher transaction volumes and larger dollar amounts. Continued momentum in these areas is expected to significantly enhance Parvis's investment flow, driving higher revenues and expanding its network of active investors.

Market conditions and profitability: Parvis anticipates continuing challenges in the real estate development market throughout fiscal 2025. These adverse conditions have impacted profitability and contributed to reduced reported revenues and gross margins for 2024, particularly during the first half of the year. Despite these challenges, it remains committed to navigating the market landscape and leveraging its strategic initiatives to bolster long-term growth and shareholder value.

Parvis has no debt and approximately 26,771,736 common shares outstanding, of which approximately 9,508,447 common shares (35.5 per cent) are held by insiders. Of Parvis's outstanding common shares, approximately 11,457,410 common shares (42.8 per cent) are escrowed pursuant to TSX Venture Exchange policies. Further details with respect to Parvis's escrowed securities can be found in Parvis's filing statement dated Feb. 28, 2023. For assumptions and other details, please see the audited financial statements and management's discussion and analysis for the year ended March 31, 2024. The audited financial statements and management's discussion and analysis for the year ended March 31, 2024, are available on SEDAR+.

About Parvis Invest Inc.

Parvis is a technology-driven real estate investing platform. Focused on broadening access to institutional-quality investment opportunities, Parvis promotes greater access to this historically inaccessible and illiquid asset class. Enabled by AI and blockchain technology, Parvis makes finding, tracking and maximizing investments an experience that is both frictionless and empowering. Parvis, headquartered in Vancouver, employs experts in Toronto, Vancouver, Kelowna and Montreal.

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