SEDAR Interim Financial Statements

1 MedMira Inc. Condensed Interim Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 (Unaudited – Prepared by Management) In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses that its auditors have not reviewed the unaudited financial statements for the period ending October 31, 2025 2 December 30, 2025 Management’s responsibility for financial reporting The accompanying consolidated financial statements of MedMira Inc. (MedMira or the Company) are the responsibility of management and have been approved by the Board of Directors. The consolidated financial statements have been prepared by management in accordance with International Financial Reporting Standards (IFRS). The consolidated financial statements include amounts and assumptions based on management’s best estimates which have been derived with careful judgement. In fulfilling its responsibilities, management has developed and maintains a system of internal accounting controls. These controls are designed to ensure that the financial records are reliable for preparation of the consolidated financial statements. The Board of Directors of the Company is responsible for ensuring that management fulfils its responsibilities for financial reporting and is ultimately responsible for reviewing and approving the condensed interim consolidated financial statements and the accompanying management’s discussion and analysis. The Board of Directors carries out this responsibility principally through its Audit Committee. The Audit Committee is a subcommittee of the Board of Directors. It is responsible for oversight of the internal control and financial matters assisting the Company’s management and independent auditors to ensure that the integrity of the financial reporting process is maintained. (signed) Hermes Chan (signed) Markus Meile Chief Executive Officer Chief Financial Officer MedMira Inc. 1 Unaudited consolidated statements of financial position As at October 31, 2025 and July 31, 2025 In Canadian dollars The accompanying notes are an integral part of these consolidated financial statements. Approved on behalf of the Board of Directors (signed) Hermes Chan, Director (signed) Steve Cummings, director Notes 31-Oct-25 31-Jul-25 $ $ Assets Current assets Cash - 14,910 Trade and other receivables 1,329,147 1,318,373 Prepaid expenses 54,614 60,045 Inventories 4 204,653 206,074 Total current assets 1,588,414 1,599,402 Non-current assets Property, plant and equipment 2,007,341 2,082,406 Intangible assets 2 2 Total non-current assets 2,007,343 2,082,408 Total assets 3,595,757 3,681,810 Liabilities Current liabilities Current portion of debt 8 6,929,683 6,303,179 Bank indebtedness 1,677 - Trade accounts payable and accrued liabilities 3,112,599 2,911,047 Salaries and benefits payable 1,912,088 1,911,253 Interest payable 4,123,170 3,932,858 Deferred revenue 651,299 643,214 Lease liabilities 7 181,180 177,947 Provision for royalty 10 97,673 97,673 Advance from investors 11 7,499,793 6,040,701 Total current liabilities 24,509,162 22,017,872 Long term liabilities Lease liability 7 2,162,585 2,210,305 Long term portion of debt 8 298,156 2,014,645 Total long term liabilities 2,460,741 4,224,950 Total liabilities 26,969,903 26,242,822 Equity (deficiency) Share capital 5 68,671,091 68,671,091 Equity reserve 5 14,577,728 14,577,728 Accumulated deficit (106,622,965) (105,809,831) Total sha --- reholders' deficiency (23,374,146) (22,561,012) Total liabilities and equity (deficiency) 3,595,757 3,681,810 MedMira Inc. 2 Unaudited consolidated statements of operations and comprehensive loss For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars The accompanying notes are an integral part of these consolidated financial statements. Notes 31-Oct-25 31-Oct-24 $ $ Revenue Product Product sales 3 54,208 61,723 Product cost of sales (11,908) (8,945) Gross margin on product 42,300 52,778 Operating expenses Research and development 13 (77,663) (423,253) Sales and marketing (62,497) (112,172) Other direct costs (183,911) (234,177) General and administrative (311,051) (341,681) Total operating expenses (635,122) (1,111,283) Operating loss (592,822) (1,058,505) Non-operating income (expense) Financing expense 15 (220,312) (242,044) Total non-operating income (expense) (220,312) (242,044) Net and comprehensive loss (813,134) (1,300,549) Basic loss per share 6 (0.001) (0.002) Diluted loss per share 6 (0.001) (0.002) MedMira Inc. 3 Unaudited consolidated statements of changes in equity In Canadian dollars The accompanying notes are an integral part of these consolidated financial statements. Share capital Notes Common shares Preferred shares Equity reserve Accumulated deficit Shareholders' deficiency $ $ $ Balance at July 31, 2024 68,668,591 2,500 14,577,728 (101,285,424) (18,036,605) Net and comprehensive loss - - - (1,300,549) (1,300,549) Balance at October 31, 2024 68,668,591 2,500 14,577,728 (102,585,973) (19,337,154) Net and comprehensive loss - - - (3,223,858.00) (3,223,858) Balance at July 31, 2025 68,668,591 2,500 14,577,728 (105,809,831) (22,561,012) Net and comprehensive income - - - (813,134) (813,134) Balance at October 31, 2025 68,668,591 2,500 14,577,728 (106,622,965) (23,374,146) MedMira Inc. 4 Unaudited consolidated statements of cash flows For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars The accompanying notes are an integral part of these consolidated financial statements. 31-Oct-25 31-Oct-24 Notes $ $ Cash from operating activities Net loss (813,134) (1,300,549) Adjustments for: Depreciation 75,065 80,011 Exchange loss on conversion of debt 86,221 41,755 Movements in working capital: (Increase)/decrease in trade and other receivables (10,774) (21,342) (Increase)/decrease in inventories 1,421 (6,978) (Increase)/decrease in prepaid expenses 5,431 (14,075) Increase/(decrease) in trade and other payables 201,557 8,206 Increase/(decrease) in salary and benefits payable 835 30,348 Increase/(decrease) in interest payable 190,312 180,103 Increase/(decrease) in deferred revenue 8,085 4,972 Net cash used in operating activities (254,981) (997,549) Cash flow from investing activities Payments to acquire property, plant and equipment - (2,100) Net cash used in investing activities - (2,100) Cash flow from financing activities Increase/(decrease) in lease liability 7 (44,487) (42,369) Increase/(decrease in bank indebtedness 1,677 - Advances from investors 11 1,407,825 - Proceeds from borrowings 8 78,426 - Repayment of borrowings 8 (1,203,370) - Net cash from financing activities 240,071 (42,369) Net increase (decrease) in cash (14,910) (1,042,018) Cash at the beginning of the year 14,910 2,097,595 Cash at the end quarter - 1,055,577 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollar --- s 5 1. Reporting entity Nature of operations MedMira Inc. (“MedMira” or “the Company”) is a biotechnology company headquartered in Canada. The address of the Company’s registered office is 155 Chain Lake Drive, Suite 1, Halifax, Nova Scotia, B3S 1B3. MedMira Holding AG owns the majority of MedMira’s shares and is the controlling shareholder. MedMira, through its subsidiaries, is engaged in the business of research, development and manufacturing of rapid diagnostics and technologies. The Company invests in research to maintain and expand its position in the global diagnostics market. MedMira’s research is focused on specific areas of the broader diagnostics market, namely the rapid, point-of-care, and in vitro sectors. 2. Basis of preparation a. Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”). The consolidated financial statements were authorized for issue by the Board of Directors on December 30, 2025. b. Going-concern The accompanying consolidated financial statements have been prepared based on IFRS applicable to a going-concern, which contemplates the realization of assets and liquidation of liabilities during the normal course of operations. However, certain adverse conditions and events cast significant doubt upon the validity of this assumption. The Company has incurred losses and negative cash flows from operations on a cumulative basis since inception. For the three months ended October 31, 2025, the Company realized a net loss of $0.8 million (October 31, 2024 – net loss of $1.3 million), consisting of a net loss from operations of $0.6 million (October 31, 2024 – net loss of $1.1 million), and other non-operating losses of $0.2 million (October 31, 2023 - $0.2 million). Negative cash outflows from operations were $0.3 million (October 31, 2024 – $1.0 million). As of October 31, 2025, the Company had an accumulated deficit of $106.6 million (July 31, 2025 - $105.8 million) and a negative working capital position of $22.9 million (July 31, 2025 - $20.4 million). In addition, as of October 31, 2025, $6.9 million of debt was in default. The Company currently has insufficient cash to fund its operations for the next 12 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 6 months. In addition to its ongoing working capital requirements, the Company must secure sufficient funding for its research and development programs for existing commitments, including its current portion of debt of approximately $6.9 million. These material uncertainties may cast significant doubt about the Company’s ability to continue as a going concern. The Company is in the biomedical field with potential high returns and equally high risks in terms of timelines, changing regulatory requirements and subsequently higher then anticipated cash needs. This resulted in operating losses, negative cash flows and working capital deficits. Over the past 30 years the Company has managed to raise additional capital from several sources including its largest supporting shareholder. Management dedicates significant time to pursuing additional revenue generating alternatives that will fund the Company’s operations and growth opportunities so it can continue as a going concern. Debt arrangements were also ongoing with the Company’s major shareholder and other debt holders. Subse --- quent to the close of fiscal year 2025, MedMira has generated additional revenues from product sales and loans from related parties which support the Company’s on-going operating costs and provide funding for its product development activities. Additional funds have been provided to the Company from related parties and further funding is being processed at the date of this statement. In addition, the Company has been awarded a number of contracts to be executed in a short period of time that will support the ongoing operations. The Company must secure sufficient capital to support its capital requirements for research and development programs, existing commitments, including its current portion of debt of approximately $6.9 million, as well as growth opportunities. Management dedicates significant time to pursuing investment alternatives that will fund the Company’s operations and growth opportunities so it can continue as a going concern. Debt arrangements were also ongoing with the Company’s major shareholder and other debt holders. Subsequent to the end of quarter one, MedMira has generated additional revenues from product sales which support the Company’s on-going operating costs and provide funding for its product development activities and received additional advances from investors. The Company is subject to risks associated with early-stage companies, including but not limited to, dependence on key individuals, competition from substitute services and larger companies, and the requirement for the continued successful development and marketing of its products and services. The Company’s ability to continue as a going-concern is dependent upon its ability to generate positive cash flow from operations and secure additional financing and the continued support of its lenders and shareholders. These financial statements do not reflect the adjustments to carrying values of assets and liabilities and the reported expenses and statement of financial MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 7 position classifications that would be necessary were the going-concern assumption not appropriate. These adjustments could be material. c. Basis of consolidation Subsidiaries Subsidiaries are entities controlled by the Company. Control is achieved when the Company has the power over the investee, is exposed, or has rights, to variable returns from its involvement with the investee; and can use its power to affect its returns. The Company reassesses whether it controls an investee if facts and circumstances indicate that there changes to one or more of the three elements of control listed above. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Intra-company balances and transactions, and any unrealized income and expenses arising from intra-company transactions, are eliminated in preparing the consolidated financial statements. 3. Revenue The Company derives approximately 70% (October 31, 2024 – 73%) of its revenue from four (October 31, 2024 — four) main customers and, for these customers, assesses the recoverability of each account on a regular basis. During the three months ended October 31, 2025, customer 1 accounted for 25% of the Company’s revenue, customer 2 accounted for 24% of the revenue, customer 3 accounted for 14% and --- customer 4 accounted for 7%. The Company organizes and records revenue based on major geographical territories around the world. The table below provides the geographic breakdown of revenue. For the three months ended October 31, 2025, revenue in North America included sales made in Canada (the Company’s country of domicile) of $17,900 (October 31, 2024 - $16,565). 31-Oct-25 31-Oct-24 $ $ North America 41,753 50,790 Europe 12,455 10,933 Total Revenue 54,208 61,723 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 8 4. Inventories As of October 31, 2025, there were no valuation allowances against inventory (July 31, 2025 - $nil). During the three months ended October 31, 2024, inventory valued at $10,039 was expensed as product cost of sales (October 31, 2024 - $10,452), which included write-downs of inventory because of net realizable value being lower than cost of $756 (October 31, 2024 – $1,404). No inventory write-downs recognized in previous years were reversed during the current year. 5. Capital and other components of equity a. Authorized The Company is authorized to issue an unlimited number of Series A preferred shares, non-voting, non-participating, redeemable at the Company’s option at $0.001 per share after March 31, 2010, convertible into an equal number of common shares upon the Company meeting certain milestones. The preferred shares earn no dividends. The Company is authorized to issue an unlimited number of voting common shares without nominal or par value. b. Share capital issued 31-Oct-25 31-Jul-25 $ $ Raw materials and consumables 195,067 192,032 Work in progress 419 796 Finished goods 9,167 13,246 Total Inventories 204,653 206,074 Common Shares Preferred Shares Common shares Preferred shares Total share capital $ $ $ Balance at July 31, 2025 701,730,591 5,000,000 68,668,591 2,500 68,671,091 Balance at October 31, 2025 701,730,591 5,000,000 68,668,591 2,500 68,671,091 Number of Value of MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 9 The total common shares issued and outstanding includes 4,064,464 common shares held in escrow scheduled to be released when the Company obtains positive operating cash flow. The Series A preferred shares had a stated capital of $2,500 on October 31, 2025 (July 31, 2025 - $2,500). c. Equity Reserve The change in equity reserve is outlined in the table below: 6. Loss per share The diluted weighted average number of common shares outstanding is the same as the basic weighted average number of common shares outstanding for the three months ended October 31, 2025, as the exercise of options would be anti-dilutive. Equity Reserve $ Balance at July 31, 2025 14,577,728 Balance at October 31, 2025 14,577,728 31-Oct-25 31-Oct-24 Net income (loss) (813,134) (1,300,549) Issued common shares 701,730,591 701,730,591 Weighted average number of common shares 701,730,591 701,730,591 Basic earnings (loss) per share (0.001) (0.002) Diluted earnings (loss) per share (0.001) (0.002) MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 10 7. Lease liability The lease liability is based on one lease the company has for the building it is using for operations. The remaining lease term is three years with an option to renew for tw --- o additional terms of five years each. The imputed finance costs of the liability were determined based on an incremental borrowing rate of 5%. The minimum lease payments for the next five year are as follows: Building $ Balance at July 31, 2025 2,388,252 Interest expense 29,852 Less: lease payments (74,339) Balance at October 31, 2025 2,343,765 Less: current portion (181,180) 2,162,585 Lease liability Finance charge Total $ $ $ 2026 181,180 117,188 298,368 2027 195,300 108,110 303,410 2028 205,047 98,364 303,411 2029 216,307 88,112 304,419 2030 232,184 77,278 309,462 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 11 8. Loans and borrowings a. Loans The required annual principal repayments on loans and borrowings are as follows: Carrying value Contract value Carrying value Contract value $ $ $ $ Short term loans 212,285 212,285 207,542 207,542 Loan 1 1,054,167 1,054,167 1,054,167 1,054,167 Loan 2 1,300,000 1,300,000 1,300,000 1,300,000 Loan 3 4,574 4,574 4,469 4,469 Loan 4 348,720 348,720 340,720 340,720 Loan 5 191,796 191,796 187,396 187,396 Loan 6 174,360 174,360 170,360 170,360 Loan 7 150,000 150,000 150,000 150,000 Loan 8 38,816 38,816 38,335 38,335 Loan 9 26,154 26,154 1,218,074 1,218,074 Loan 10 80,206 80,206 - - Canada emergency business account 59,761 59,761 59,761 59,761 ACOA loans 473,610 473,610 473,610 473,610 Nova Scotia government loan 1 3,016,000 3,016,000 3,016,000 3,016,000 Nova Scotia government loan 2 97,390 97,390 97,390 97,390 Total loan principal 7,227,839 7,227,839 8,317,824 8,317,824 Long term portion of principal 298,156 2,014,645 Current portion payable or principal 6,929,683 6,303,179 31-Oct-25 31-Jul-25 2026 6,929,683 2027 191,796 2028 26,154 Carrying value 7,147,633 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 12 Short term loans The Company has various short-term loans with one related party. These loans were utilized by the Company for short-term working capital requirements. The loans have an interest rate of 5% per year. As of October 31, 2025, the loans are all in default due to non-payment. Loan 1 Loan established October 31, 2012, bearing 5% interest with monthly interest only payments until November 30, 2013, followed by monthly principal payments and accrued interest for five additional years ending November 30, 2018. The loan is secured by interest on intellectual property and on the step-up technology. The loan was in default as of October 31, 2025, due to nonpayment of interest and principal payments and thus has been classified as a current liability. Loan 2 Loan established July 31, 2012, bearing 5% interest with monthly interest payments were due until April 30, 2016, followed by equal monthly principal payments and accrued interest for four additional years ending July 31, 2022. The loan was in default due to nonpayment of interest and principal payments as of October 31, 2025, and thus has been classified as a current liability. Loan 3 Loan was established on July 31, 2016, bearing 5% interest with the Company’s Chief Financial Officer. The loan was renegotiated on January 21, 2017, and is now fully payable on or before October 1, 2018. The loan was in default due to nonpayment of interest and principal payments as of October 31, 2025 and thus has been classified as a current liability. Loan 4 Loa --- n was established on December 19, 2022, with a shareholder. The loan bears 5% interest and is due on August 1, 2026. The loan was in default due to nonpayment of interest and principal payments as of October 31, 2025 and thus has been classified as a current liability. MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 13 Loan 5 Loan was established on February 27, 2023, with a shareholder. The loan bears 5% interest and is due on December 1, 2026. Loan 6 Loan was established on April 4, 2023, with a member of the board of directions. The loan bears 5% interest and is due on originally due on August 18, 2025. The loan was extended to August 18, 2026. Loan 7 Loan was established on April 21, 2023. The loan bears 5% interest and is due on August 18, 2025. The loan was in default due to nonpayment of interest and principal payments as of October 31, 2025 and thus has been classified as a current liability. Loan 8 Loan was established on August 18, 2022. The loan bears 5% interest and was originally due on August 18, 2025. The loan was partially converted into shares on January 4, 2024. The remaining loan was extended to August 18, 2026. The loan was in default due to nonpayment of interest and principal payments as of October 31, 2025 and thus has been classified as a current liability. Loan 9 Loan was established on March 25, 2025 ($400,000) and May 21, 2025 ($315,000) with a shareholder. The loan bears 5% interest and is due on April 30, 2028. The loan was partially repaid on September 3, 2025. Loan 10 Loan was established on August 22, 2025 with the CFO. The loan bears 5% interest and is due on August 22, 2030. Canada Emergency Business Account (CEBA) The Company received a loan of CAD$60,000 from Bank of Montreal which is fully secured by the Government of Canada. This Relief Line of Credit was the governments direct response to support Canadian companies during the COVID-19 situation. The loan is due in full on December 31, 2026 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 14 and carries an interest rate of 5%. The company did not repay the before January 18, 2024, therefore the Company has forfeited its entitlement to a credit in the amount of 33.3% equal to $20,000. The loan is in default due to interest payments not being current and thus has been classified as a current liability. Atlantic Canada Opportunities Agency (ACOA) loans Loans established on October 31, 2012, bearing no interest with monthly principal payments of $3,747 until July 31, 2013, followed by monthly principal payments of $24,234 for five additional years ending July 31, 2018. The loan was renegotiated in July 2014, bearing no interest with a monthly principal payment of $24,234 in August 2014 followed by 40 monthly principal payments of $27,800 starting on February 1, 2015, and one monthly principal payment of $26,975 at the end of the loan. The loan is secured by all present and subsequently acquired personal property, excepting consumer goods. The loan was in default on October 31, 2025, due to non-payment of principal and interest and thus has been classified as a current liability. Nova Scotia government loan 1 The loan was established in August 2015, bearing interest based on the Province of Nova Scotia’s five-year cost of funds, plus five hundred basis points. Mont --- hly interest payments are due until August 31, 2018. Starting on September 1, 2016, thirteen monthly principal payments of $120,000 are due followed by ten monthly principal payments of $135,000 starting on October 1, 2017, and one monthly principal payment of $106,000 on August 1, 2018. The loan is secured by first interest on intellectual property and on the Maple Bio sensor technology. In September 15, 2020, the Company has entered into a forbearance agreement with the Province of Nova Scotia which allows the Company to defer principal and interest payments. The terms and condition were based on the Company’s growth and milestone-based achievements. On March 9, 2023, the Company received an additional Forbearance extension for a period of twelve months. On April 3, 2024, the Company received an additional Forbearance extension for a period of twelve months. On October 15, 2025, the Company received another Forbearance extension for a period of twelve months. Pending on the Company’s achievement of growth milestones, the Province may extend this further. The loan was in default due to nonpayment of interest and principal payments on October 31, 2025, and thus has been classified as a current liability Nova Scotia government loan 2 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 15 Loan established September 14, 2012, bearing no interest with the balance due by August 31, 2018. The loan is secured by first interest on intellectual property and on the Maple Bio sensor technology. On September 15, 2020, the Company has entered into a forbearance agreement with the Province of Nova Scotia which allows the Company to defer principal and interest payments. The terms and condition were based on the Company’s growth and milestone-based achievements. On April 3, 2024, the Company received an additional Forbearance extension for a period of twelve months. On October 15, 2025, the Company received another Forbearance extension for a period of twelve months. Pending on the Company’s achievement of growth milestones, the Province may extend this further. The loan was in default due to nonpayment of interest and principal payments on October 31, 2025, and thus has been classified as a current liability. 9. Capital management and financial risks a. Capital management The Company’s objectives in managing capital are to ensure sufficient liquidity to support the capital requirements of its various businesses, including growth opportunities. The Company manages its capital structure and adjusts considering general economic conditions, the risk characteristics of the underlying assets and the Company’s working capital requirements. Management of the capital structure involves the issuance of new debt, the repayment of existing debt using cash generated by operations and issuance of additional financial structures such as product financing and royalty agreements. The capital structure of the Company is composed of shareholders’ deficiency, cash, long-term and short-term debts. The provisions of certain financing agreements provide for restrictions on the activities of the Company in terms of their use of funds. Such restrictions are mainly applied in specific product development financing projects. The Company’s objectives when managing capital are to provide competitive cost structures, safeguard its assets and daily cash flow management to maximize the Comp --- any’s cash holding. The Company’s capital is summarized in the table below. MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 16 Refer to the note 2b for information on how the Company manages its plan and its ability to continue as a going concern. b. Foreign currency risk Most of the Company’s sales are denominated in foreign currencies. The Company’s US dollar foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are shown in the table below. A one percent change in the US dollar exchange rate would result in approximately a $22,653 (July 31, 2025 - $22,232) impact on the statement of financial position and consolidated statement of operations. The Company’s Swiss Franc foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are shown in the table below: 31-Oct-25 31-Jul-25 $ $ Total debt 7,227,839 8,317,825 Less: Cash - (14,910) Net debt 7,227,839 8,302,915 Shareholders' deficiency (23,374,146) (22,561,012) Total capital (16,146,307) (14,258,097) 31-Oct-25 31-Jul-25 $ $ Total debt 7,227,839 8,317,825 Less: Cash - (14,910) Net debt 7,227,839 8,302,915 Shareholders' deficiency (23,374,146) (22,561,012) Total capital (16,146,307) (14,258,097) MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 17 A one percent change in the US dollar exchange rate would result in approximately a $19,908 (July 31, 2025 - $9,969) impact on the statement of financial position and consolidated statement of operations. c. Interest rate risk The Company is not exposed to interest rate risk as it borrows funds at fixed rates. d. Credit risk The Company exposed to credit risk in relation to its trade accounts receivable. To mitigate such risk, the Corporation continuously monitors the financial condition of its customers and reviews the credit history or worthiness of each new customer. The Company mitigates this risk by requiring a 100% down payment prior to shipment for new clients. The Company establishes an allowance for doubtful accounts based on specific credit risk of its customers by examining such factors as the number of overdue days of the customers’ balance outstanding as well as the customers’ collection history. Trade and other receivables include amounts that are past due as of October 31, 2025, for which the Company has not recognized an allowance for doubtful accounts because there has not been a significant change in the credit quality of the customer and the amounts are still considered recoverable. e. Liquidity risk Liquidity risk represents the possibility that the Company may not be able to gather sufficient cash resources, when required and under reasonable conditions, to meet its financial obligations. As of October 31, 2025, the Company does not have sufficient cash to meet all of its current liabilities. 31-Oct-25 31-Jul-25 CHF CHF Cash 238 17 Trade and other receivables 2,348 2,048 Prepaid expenses 17,903 17,903 Accounts payable and accrued liabilities (394,234) (402,654) Advances from investors (1,669,168) (96,211) Debt 52,163 (518,036) MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 18 The Company also continues to have an ongoing need for substantial ca --- pital resources to research and develop, commercialize, and manufacture its products and technologies. The Company is not yet receiving a significant ongoing revenue stream, nor can it be certain that it will receive significant revenue before additional cash is required. As a result, there can be no assurance that the Company will have sufficient capital to fund its ongoing operations, develop or commercialize its products without future financing. The Company’s contractual maturities for its financial liabilities are outlined in the table below. The payments noted above do not include interest payments. 10. Royalty provision During March 2015, the Company entered into a royalty agreement with MedMira Holding AG whereby MedMira Holding AG would receive a 10% royalty on all future US sales of the Reveal G4 product for a five-year period commencing on the day the first full payment and delivery of at least CAD $100,000 worth of product. In exchange, MedMira Holding AG provided the Company with $270,000 to fund costs required to complete the product development and obtain US Food and Drug Administration (FDA) pre-market approval. At the inception of the arrangement, the Company’s best estimate of the value of the provision was zero and as MedMira Holding AG is the controlling shareholder of the Company, the $270,000 was recorded in equity (Note 8). As of October 31, 2025, the Company’s best estimate of the fair value of the provision was $97,673 (July 31, 2025 - $97,673), which is recorded in royalty provision and the change in fair value of the provision recorded in financing expense in profit or loss. For the three months ended October 31, 2025 Total Less than 1 year 1 to 3 years 4 to 5 years After five years $ $ $ $ $ Debt 7,227,839 6,929,683 217,950 80,206 - Bank indebtedness 1,677 1,677 - - - Accounts payable and accrued liabilities 9,147,857 9,147,857 - - - Lease liabilities 2,343,765 181,180 616,654 475,959 1,069,972 Advance from investors 7,499,793 7,499,793 - - - Royalty provision 97,673 97,673 - - - Total debt 26,318,604 23,857,863 834,604 556,165 1,069,972 For the year ended July 31, 2025 Total Less than 1 year 1 to 3 years 4 to 5 years After five years $ $ $ $ $ Debt 8,317,824 6,303,178 2,014,646 - - Accounts payable and accrued liabilities 8,755,158 8,755,158 - - - Lease liabilities 2,388,252 177,947 394,906 441,460 1,373,939 Advance from investors 6,040,701 6,040,701 - - - Royalty provision 97,673 97,673 - - - Total debt 25,599,608 21,374,657 2,409,552 441,460 1,373,939 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 19 During July 2016, the Company entered into a royalty agreement with MedMira Holding AG whereby MedMira Holding AG would receive a 10% royalty on all future sales of the hepatitis C (HCV) portion of the approved Multiplo HIV/HCV test commencing on the day of the first full delivery and payment of CAD $10,000 worth of product. In exchange, MedMira Holding AG provided the Company with $200,000 to fund costs required to complete product development and obtain FDA pre-market approval. At the inception of the arrangement, the Company’s best estimate of the fair value of the provision was zero and as MedMira Holding AG is the controlling shareholder of the Company, the $200,000 was recorded in equity reserve. As of October 31, 2025, the Company’s best estimate of the fair value of the provision was zero. Management’s fai --- r value estimate was based on changes made during the FY2017 product commercialization prioritization process which placed the Multiplo HIV/HCV project on hold until further notice. During October 2016, the Company entered into a royalty agreement with Ritec AG whereby Ritec AG would receive a 12.5% royalty on all future sales of the approved Reveal G4 CLIA-waived product commencing on the day of the first full delivery and payment of CAD $10,000 worth of product. In exchange, Ritec AG provided the Company with $1,310,100 to fund costs required to complete the product development, clinical trials and obtain FDA approval. At the inception of the arrangement, the Company’s best estimate of the fair value of the provision was zero and as Ritec AG is owned by a shareholder of MedMira Holding AG who is the controlling shareholder of the Company, the $1,310,100 was recorded in equity reserve. On October 31, 2025, the Company’s best estimate of the fair value of the provision was zero. The change in royalty provision is outlined in the table below: Provision for royalty $ Balance at July 31, 2025 97,673 Fair value measurement of Reveal G4 royalty - Balance at October 31, 2025 97,673 MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 20 11. Advances from investors During the three months ended October 31, 2025, the Company has received $1,407,825 (fiscal year 2024 - nil) in advances from investors. These advances will be converted to common shares at a date to be determined. Until such time that the advances are converted to common shares, the company is obligated to pay 5% interest on the amount received. 12. Related parties The following related party transactions incurred the three months ended October 31, 2025: • A long-term loan of $78,426 was received from the CFO (October 31, 2024 – nil). • A shareholder advance of $1,289,325 was received from MedMira Holdings AG (October 31, 2024 – nil). • A shareholder advance of $118,500 (October 31, 2024 – nil) was received from the Chairman of the Board of directors. • Loans in the amount of $1,203,370 were repaid to a shareholder of the company (October 31, 2024 – nil). • The following balances with related parties were outstanding on October 31, 2025: • Salaries and benefits totalling $1,519,511 were due to the CEO and CFO (July 31, 2025 - $1,487,844). • Long-term loan totalling $84,780 (July 31, 2025 - $4,469) and accrued interest of $1,029 (July 31, 2025 - $121) was due to the Chief Financial Officer. • A royalty provision was owed to MedMira Holding AG of $97,673 (July 31, 2025 - $97,673). • Short term loans totalling $212,285 (July 31, 2025 - $207,543) and accrued interest of $5,16450 (July 31, 2025 – $7,959) were owed to one officer. • Long term loans totalling $540,516 (July 31, 2025 - $528,116) and accrued interest of $75,684 (July 31, 2025 – $19,813) were owed to a shareholder. • A long-term loan totalling $174,360 (July 31, 2025 - $170,360) and accrued interest of $22,476 (July 31, 2025 - $19,813) was owed to a member of the board of directors. • A long-term loan totalling $26,154 (July 31, 2025 - $1,218,075) and accrued interest of $26,189 (July 31, 2025 - $19,222) were owed to a related party. • Shareholder advances totalling $5,008,600 (July 31, 2025 - $3,692,200) and accrued interest of $328,246 (July 31, 2025 - $269,989) were owed to shareholders. MedMira Inc. Notes to the Consolidated Finan --- cial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 21 • Shareholder advances totalling $118,500 (July 31, 2025 – nil) and accrued interest of $357 (July 31, 2025 – nil) were owed to the Chairman of the Board of directors. 13. Research and development The following table provides a summary of aggregate research costs and reimbursements. 14. Expenses by nature The following table provides the Company’s expenses listed by the nature of the expense. 31-Oct-25 31-Oct-24 $ $ Research and development expenses (77,663) (423,253) Less: research and development expenses allocated to cost of sales - - Net research and development expense (77,663) (423,253) 31-Oct-25 31-Oct-24 $ $ Change in inventory (10,039) (10,282) Employee benefits (346,556) (377,170) Depreciation (75,065) (80,011) Distribution (2,722) (2,104) Facility (32,804) (33,558) Professional services (69,011) (470,300) Lab supplies (3,645) (24,238) Other expenses 4,612 (62,280) Exchange gains/(losses) (111,800) (60,285) Finance costs (220,312) (242,044) Government assistance - - (867,342) (1,362,272) MedMira Inc. Notes to the Consolidated Financial Statements For the three months ended October 31, 2025 and October 31, 2024 In Canadian dollars 22 15. Financing expense A breakdown of the income (expenses) allocated to financing expense on the consolidated statements of operations and comprehensive loss is provided in the table below. 16. Subsequent events Subsequent to the end of the quarter, the Company received $158,850 in shareholder advances from the Chairman of the Board of Directors. 31-Oct-25 31-Oct-24 $ $ Finance costs (220,312) (242,044) Total financing expense (220,312) (242,044)