SEDAR Interim Financial Statements

Seven Oaks Capital Corp. (A Capital Pool Company) Unaudited condensed interim financial statements for the three-month and nine-month period ended September 30, 2025 and for the three-month and nine-month period ended September 30, 2024 (In Canadian Dollars) NOTICE OF NO AUDIT OR REVIEW OF CONDENSED INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3 (3) (a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the interim financial statements have not been reviewed by an auditor. The accompanying interim financial statements of Seven Oaks Capital Corp. (the “Corporation”) have been prepared by and are the responsibility of the Corporation’s management. The Corporation’s independent auditor has not performed a review of these financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity’s auditor. 5 SEVEN OAKS CAPITAL CORP. Unaudited Condensed Interim Statement of Financial Position (in Canadian dollars) September 30, 2025 December 31, 2024 Assets Cash $ 458,885 $ 492,645 Prepaids - 57 $ 458,885 $ 492,702 Liabilities Accounts payable and accrued liabilities, note 5 6,418 $ 20,000 Shareholders' Equity Share capital, Note 4 791,342 $ 791,342 Share option Reserve 80,378 64,594 Warranty Reserve, Note 4 26,409 26,409 Cumulative Deficit (445,662) (409,643) 452,468 $ 472,702 458,885 $ 492,702 Approved by the Board “Grant McLeod” “Dexter John” Director (Signed) Director (Signed) The accompanying notes are an integral part of these financial statements. 6 SEVEN OAKS CAPITAL CORP. Unaudited Condensed Interim Statement of Net Income (Loss and Comprehensive Loss) (in Canadian dollars) Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024 Expenses Professional fees $ - $ - $ (2,485) $ 4,408 Share-based compensation - - 15,784 - Stock Exchange and Transfer agent fees - - 13,526 9,528 General and administrative 4,867 600 9,193 2,380 Net income (loss and comprehensive loss) for the period $ (4,867) $(600) $(36,018) $ (16,316) Net income (loss) per share – basic and diluted 0.00 (0.00) (0.01) (0.00) Weighted average shares outstanding – basic and diluted 4,631,560 4,631,560 4,631,560 4,631,560 The accompanying notes are an integral part of these financial statements. 7 SEVEN OAKS CAPITAL CORP. Unaudited Condensed Interim Statement of Changes in Shareholders’ Equity (Deficiency) (in Canadian dollars) Number of Shares Share Capital Stock Option Reserve Warrant Reserve Accumulated Deficit Shareholders’ Equity Balance, as at December 31, 2023 13,176,560 $ 791,342 $ 64,594 $ 26,409 $ (369,287) $ 513,058 Net loss for the period - - - - (16,316) (16,316) Balance, as at September 30, 2024 13,176,560 $ 791,342 $ 64,594 $26,409 $ (385,603) $ 496,742 Balance as at December 31, 2024 13,176,560 $ 791,342 $ $64,594 $26,409 $ (409,643) $ 472,702 Share-based compensation 15,784 - - 15,784 Net loss for the period - - - - - - $ (36,018) $ (36,018) Balance as at September 30, 2024 13,176,560 $ 791,342 $ $64,594 26,409 $ (445,662) $ 452,468 The accompanying notes are an integral part of these financial statements. 8 SEVEN OAKS CAPITAL CORP. Unaudited Condensed Interim Statement of Cash Flow (in Canadian dollars) Three months ended September 30, 2025 Three m --- onths ended September 30, 2024 Nine months ended September 30, 2025 Nine Months ended September 30, 2024 Cash provided by (used in) Operating Loss for the period $(4,867) $(600) $(36,018) $(16,316) Share-based compensation - - 15,784 - Prepaids - - 57 - Change in accounts payable and accrued liabilities (16,183) 600 (13,584) (21,915) Cash used in operating activities - - (33,761) (38,231) Financing Proceeds from issuance of shares - - - - Share issuance costs - - - - Cash provided by financing activities - - - - Net change in cash (21,049) - (33,761) (38,231) Cash, beginning of period 479,934 498,045 492,646 536,276 Cash, end of period $458,885 $498,045 $458,885 $498,045 The accompanying notes are an integral part of these financial statements. 9 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 1. INCORPORATION AND NATURE OF BUSINESS Seven Oaks Capital Corp. (the "Corporation") was incorporated under the Ontario Business Corporations Act on February 19, 2021 and is a Capital Pool Company as defined in the Policy 2.4 of the TSX Venture Exchange (the “Exchange”) Corporate Finance Manual (the “Manual”). The principal business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction ("QT"). The Corporation has not commenced commercial operations and has no assets other than cash. Given the nature of the activities, no separate segmented information is reported. The Corporation’s continuing operations, as intended, may be dependent on its ability to secure equity financing with which it intends to identify and evaluate potential acquisitions of businesses, and once identified and evaluated, to negotiate an acquisition thereof or participation therein subject to receipt of regulatory and, if required, shareholders’ approval. The proceeds raised from the issuance of share capital may only be used to identify and evaluate assets or businesses for future investment, with the exception that up to $3,000 per month may be used for reasonable general and administrative expenses of the Corporation. These restrictions apply until completion of a QT by the Corporation as defined under the policies of the Exchange Policy 2.4. The head office and the registered head office of the Corporation is located at 30 Hayden Street, Toronto, Ontario, M4Y 3B8. On October 21, 2025 the Board of Directors approved the financial statements for the three and nine-month period from January 1, 2025 to September 30, 2025, and for the three and nine-month period from January 1, 2024 to September 30, 2024. The Corporation’s corporate and tax year-end is December 31. Going concern These financials statements were prepared on a going-concern basis of accounting, which assumes that the Corporation will continue operations for the foreseeable future and be able to realize the carrying value of its assets and discharge its liabilities and commitments in the normal course of business. The Corporation does not generate revenue from operations and incurred a net loss of $36,018 (2024 - $16,316) and a cumulative deficit of $445,662 (2024 - $385,603). However, the Corporation believes that its working capital balance as at September 30, 2025 will provide the Corporation with sufficient cash resources to meet its obligations for at least twelve months from the end of the reporting period. As the --- Corporation has no revenues, its ability to continue as a going concern may be dependent on its ability to obtain additional financing and complete a Qualifying Transaction. The financial statements do not reflect adjustments that would be necessary if the going concern assumption was not appropriate. These adjustments could be material. 10 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 2. BASIS OF PRESENTATION Statement of Compliance These unaudited condensed interim financial statements have been prepared in accordance with the International Accounting Standard 34, Interim Financial Reporting (“IAS 34”), using accounting policies consistent with International Financial Reporting Standards (“IFRS”). Accounting policies and methods of their application followed in the preparation of these unaudited condensed interim financial statements are consistent with those used in the annual audited financial statements for the year ended December 31, 2024 which are available under the Company’s profile on www.sedarplus.ca. Basis of Measurement The financial statements are presented in Canadian dollars (“CAD”), which is the Corporation’s functional and presentation currency. The financial statements are prepared on a historical cost basis except for certain financial instruments classified as fair value through profit or loss (“FVPTL”), which are stated at their fair value. The accounting policies have been applied consistently throughout the entire period presented in these financial statements. 3. SIGNIFICANT ACCOUNTING POLICIES Financial Instruments Recognition The Corporation recognizes financial assets and financial liabilities on the date the Corporation becomes a party to the contractual provisions of the instruments. Classification The Corporation classifies its financial assets and financial liabilities in the following measurement categories: i) those to be measured subsequently at fair value (either through other comprehensive income or through profit or loss, and ii) those to be measured at amortized cost. The classification of financial assets depends on the business model for managing the financial assets and the contractual terms of the cash flows. Financial liabilities are classified as those to be measured at amortized cost unless they are designated as those to be measured subsequently at fair value through profit or loss (irrevocable election at the time of recognition). For assets and liabilities measured at fair value, gains and losses are either recorded in profit or loss or other comprehensive income. The Corporation reclassifies financial assets when and only when its business model for managing those assets changes. Financial liabilities are not reclassified. The Corporation has implemented the following classifications: Cash held in trust is classified as assets at fair value and any period change in fair value is recorded in profit or loss. Accrued liabilities are classified as other financial liabilities and measured at amortized cost using the effective interest rate method. 11 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 3. SIGNIFICANT ACCOUNTING POLICIES - continued Measurement All financial instruments are required to be measured at fair value on initial recognition, plus, --- in case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial asset or financial liability. Transaction costs of financial assets and financial liabilities carried at FVTPL are expensed in profit or loss. Financial assets that are held within a business model whose objective is to collect the contractual cash flows, and that have contractual cash flows that are solely payments or principal and interest on the principal outstanding are generally measured at amortized cost at the end of the subsequent accounting periods. All other financial assets including equity investments are measured at their fair values at the end of subsequent accounting periods, with any changes taken through profit and loss or other comprehensive income (irrevocable election at the time of recognition). Additional fair value measurement disclosure includes classification of financial instrument fair values in a fair value hierarchy comprising three levels reflecting the significance of the inputs used in making the measurements which are as follows: Level 1: Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Valuations based on directly or indirectly observable inputs in active markets for similar assets or liabilities, other than Level 1 prices, such as quoted interest or currency exchange rates; and Level 3: Valuations based on significant inputs that are not derived from observable market data, such as discounted cash flow methodologies based on internal cash flow forecasts. Cash held in trust is a level 1 financial instrument measured at fair value on the statement of financial position. Income Taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the end of the reporting period. Current tax assets and current tax liabilities are only offset if a legally enforceable right exists to set off the amounts, and the intention is to settle on a net basis, or to realize the asset and settle the liability simultaneously. Current income tax relating to items recognized directly in equity is recognized in equity and not in the statement of operations and comprehensive income. Deferred income tax is provided using the balance sheet method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences and deferred income tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses. Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to be recovered or settled. Deferred tax assets are recognized to the extent that realization of such benefits is probable. 12 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 3. SIGNIFICANT ACCOUNTING POLICIES – continued Share Capital Common shares are classified as equity. Transaction costs directly attributable to the issue of common share are recognized as a deduc --- tion from equity, net of any tax effects. Share-Based Payments The Corporation has a stock option plan (the “Option Plan”) which is discussed in note 5. The Corporation uses the fair value-based method of accounting for share-based payment arrangements. The fair value of each option granted to directors, officers, consultants and employees is accounted for in operations over the vesting period of the option using the Black-Scholes option pricing model at the date of grant, with the related increase to contributed surplus. Upon exercise of the stock options, the consideration paid, together with the amount previously recognized in contributed surplus, is recorded as an increase in share capital. At each reporting date, the amount recognized as an expense is adjusted to reflect the actual number of stock options that are expected to vest. Equity-settled share-based payment transactions with parties other than employees are measured at the fair value of the goods or services received, except where that fair value cannot be estimated reliably, in which case they are measured at the fair value of the equity instruments granted, measured at the date the entity obtains the goods or the counterparty renders the service. Loss per share Basic loss per share is calculated based on the weighted average number of common shares outstanding during the fiscal year. Diluted net loss per share is determined by adjusting the weighted average number of common shares outstanding for the effects of all potentially dilutive shares. Instruments which would be anti-dilutive are not included in the calculation of diluted loss per share. All of the Corporation’s outstanding stock options and warrants were anti-dilutive for the three and nine-month period ended September 30, 2025. 9 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 4. SHARE CAPITAL Number of Shares Share Capital Balance, as at December 31, 2023 and September 30, 2024 13,176,560 791,342 Balance, as at December 31, 2024 and September 30, 2025 13,176,560 791,342 Seed share issuance As at December 31, 2021, the Corporation had issued an aggregate of 500,000 seed common shares to directors and officers of the Corporation, and an additional 7,600,000 seed common shares to other investors at a price of $.05 per share for gross proceeds of $405,000. Directors and officers of the Corporation are beneficial owners of 3,780,000 of the 7,600,000 seed common shares through 70% ownership of Integrity Enterprises Inc. Initial public offering (“IPO”) On April 5, 2022, the Corporation completed its Offering pursuant to which it issued 3,500,000 common shares at $.10 per share, for aggregate proceeds of $350,000. Canaccord Genuity Corp. (“Canaccord”) acted as the agent for the offering. Pursuant to the completion of the IPO, the Corporation issued 350,000 agent’s warrants, each warrant is exercisable into one share at an exercise price of $0.10 per share, and will expire on April 5th, 2027. The value attributed to agent warrants issued to Canaccord was $26,409. In addition to the $26,409 non- cash share issue costs associated with the agent’s warrants, the Corporation incurred cash issuance costs of $88,552. Non-brokered private placement On June 30, 2023, the Corporation completed a non-brokered private placement pursuant to which it issued 1,576,560 common shares of the Corporation at $.10 per sh --- are, for aggregate proceeds of $157,656. The Corporation incurred cash issuance costs of $8,374 related to the non-brokered private placement, of which $2,020 was expensed and $6,353 was offset against share capital. Stock Options The Corporation awards stock options to directors and officers under an incentive stock option plan. The number of options that may be granted is limited to 10% of the total number of issued and outstanding common shares of the Corporation. Stock options may be granted for a maximum term of five years from the date of the grant. They are non- transferable and are exercisable as determined by the Directors when the option is granted. Options expire within 12 months of termination of employment or holding office as director or officer of the Corporation and, in the case of death, expire within a maximum period of one year after such death, subject to the expiry date of the option. Any shares issued upon exercise of the options prior to the Corporation entering into a Qualifying Transaction will be subject to escrow restrictions. The Option Plan was approved by the Board of Directors and adopted by the Corporation on September 22, 2021 and was confirmed and reapproved by the shareholders of the Corporation at the annual general meeting of the Corporation, held on August 10, 2022. 10 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 4. SHARE CAPITAL – (continued): On July 30, 2021, 300,000 stock options were granted to three directors and one officer of the Corporation, at an exercise price of $0.10 per share. The stock options have an expiry date of five years from the date of grant and vested upon the completion of IPO. The stock options were valued at $21,540 using the Black-Scholes option pricing model based on the following assumptions: expected volatility of 100.51%, expected life of 4.3 years, expected dividend yield of 0%, risk-free rate of 2.44% and a share/exercise price of $.10. On November 12, 2021, 50,000 stock options were granted to a director of the Corporation, at a price of $0.10 per share. The stock options have an expiry date of five years from the date of grant and vested upon the completion of IPO. The stock options were valued at $3,672 using the Black-Scholes option pricing model based on the following assumptions: expected volatility of 100.51%, expected life of 4.6 years, expected dividend yield of 0%, risk-free rate of 2.44% and a share/exercise price of $.10. On August 10, 2022, 400,000 stock options were granted to directors and officers of the Corporation, at a price of $.10 per share. The stock options have an expiry date of five years from the date of grant and vested immediately. The stock options were valued at $29,013 using the Black-Scholes option pricing model based on the following assumptions: expected volatility of 92.55%, expected life of five years, expected dividend yield of 0%, risk-free rate of 3.55% and a share/exercise price of $.10. On January 29, 2023, 150,000 stock options were granted to a director of the Corporation, at a price of $0.10 per share. The stock options have an expiry date of five years from the date of grant and vested immediately. The stock options were valued at $10,369 using the Black-Scholes option pricing model based on the following assumptions: expected volatility of 86.89%, expected life of five years, expected dividend yield --- of 0%, risk-free rate of 2.77% and a share/exercise price of $.10. On January 29, 2023 the Company cancelled options to purchase 150,000 common shares in the capital of the Corporation, 50,000 of which were issued to a director of the Corporation, at a price of $0.10 per share on November 12, 2021, and 100,000 of which were granted on August 10, 2022, at a price of $.10 per share. On February 10, 2025, 200,000 stock options were granted to a director of the Corporation, at a price of $0.106 per share. The stock options have an expiry date of five years from the date of grant and vested immediately. The stock options were valued at $15,784 using the Black-Scholes option pricing model based on the following assumptions: expected volatility of 97.91%, expected life of five years, expected dividend yield of 0%, risk-free rate of 2.71% and a share/exercise price of $0.106. Number of Option Issued Weighted average exercise price Weighted average remaining (years) Balance, as at December 31, 2023, September 30, 2024 and December 31, 2024 750,000 Granted – Directors and officers 200,000 .106 4.3 Balance, as at September 30, 2025 950,000 .101 2.0 11 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 4. SHARE CAPITAL – (continued): Escrowed Shares After completing the IPO on April 5, 2022, all issued and outstanding seed shares were placed in escrow pursuant to the requirements of the Exchange to be released as to 25% thereof on completion of the Corporation’s Qualifying Transaction, as defined in the policies of the Exchange, and as to 25% thereof on each of the 6th, 12th, and 18th months following the initial release, pursuant to the terms of an Escrow Agreement dated as of March 30, 2022 between the Corporation, TSX Trust Company, and the founding shareholders of the Corporation. Subject to certain permitted exemptions, all securities of the Corporation held by principals of the resulting issuer will also be escrowed. All common shares acquired on exercise of stock options granted to directors and officers prior to completion of a Qualifying Transaction must also be deposited and held in escrow pursuant to the requirements of the Exchange. All common shares of the Corporation acquired in the secondary market prior to the completion of a Qualifying Transaction by a Control Person, as defined in the policies of the Exchange, are required to be deposited and held in escrow. The Offering was made on behalf of the Corporation by Canaccord Genuity (the Agent). Upon closing of the Offering on April 5th, 2022 the Agent received a cash commission of $35,000, a corporate finance fee of $15,000 plus reimbursement for legal and other expenses incurred in connection with the Offering. In addition, on April 5th, 2022, the Agent received an aggregate of 350,000 compensation warrants. Each such compensation warrant entitles the holder to acquire one common share of the Corporation at an exercise price of $.10 for a period of five years. The compensation warrants were valued at $26,409 using the Black-Scholes option pricing model based on the following assumptions: expected volatility of 100.51%, expected life of five years, expected dividend yield of 0%, risk-free rate of 2.44% and a share price of $.10. Number of warrants issued Weighted average exercise price Weighted average remaining (years) Balance as at December 31, 2023 350,000 Balance --- , as at December 31, 2024 and September 30, 2025 350,000 $0.10 1.50 Pursuant to CPC Policy 2.4, warrants to subscribe for securities granted to the Agent in connection with the IPO may be exercised in whole or in part by the Agent before the completion of the Qualifying Transaction, provided that no more than 50 percent of the aggregate number of common shares which can be acquired by the Agent on exercise of the warrants may be sold by the Agent before the completion of the Qualifying Transaction. 12 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 5. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The Corporation’s accounts payable and accrued liabilities as at September 30, 2025 totaling $1,302 (December 31, 2024 - $23,218) consist of office and administrative expenses. September 30, 2025 December 31, 2024 Accounts payable $6,418 $ - Accrued liabilities $ - $ 20,000 Balance $6,418 $ 20,000 6. MANAGEMENT OF CAPITAL The Corporation's objective when managing capital is to maintain its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders. The Corporation includes equity, comprised of share capital and accumulated deficit, in the definition of capital. The Corporation's primary objective with respect to its capital management is to ensure that it has sufficient cash resources to fund the identification and evaluation of potential acquisitions. To secure the additional capital necessary to pursue these plans, the Corporation may attempt to raise additional funds through the issuance of equity or by securing strategic partners. The proceeds raised from the issuance of share capital may only be used to identify and evaluate assets or businesses for future investment, with the exception that up to $3,000 per month may be used for reasonable general and administrative expenses of the Corporation. These restrictions apply until completion of a QT by the Corporation as defined under the policies of the Exchange Policy 2.4. 7. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT The Corporation's activities may expose it to a variety of financial risks: fair values, credit risk, liquidity risk and market risk (including interest rate risk). The Board of Directors provides regular guidance for overall risk management. Fair values As at September 30, 2025, the Corporation’s financial instruments consist of cash and accounts payable and accrued liabilities. The fair values of these financial instruments approximate their carrying values due to the relatively short-term maturity of these instruments. The Corporation is exposed in varying degrees to a number of risks arising from financial instruments. Management’s involvement in the operations allows for the identification of risks and variances from expectations. The Corporation does not participate in the use of financial instruments to mitigate these risks. The Board approves the risk management processes. The Board’s main objectives for managing risks are to ensure liquidity, the fulfillment of obligations, the completion of the IPO, the Corporation’s search for a Qualifying Transaction, and limit exposure to credit and market risks. 13 SEVEN OAKS CAPITAL CORP. Notes to the Unaudited Condensed Interim Statements of Financial Position as at September 30, 2025 and September 30, 2024 (in Canadian dollars) 7. FINANCIAL INSTRUMENTS AND --- RISK MANAGEMENT - (continued): Credit risk Credit risk is the risk of financial loss to the Corporation if a customer or counterparty to a financial instrument fails to meet its obligations. The Corporation is exposed to credit risk through its cash balance which was held in a Canadian financial institution as at September 30, 2025. The Corporation believes its exposure to credit risk is not significant. Interest rate risk Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. None of the Corporation’s financial instruments bear interest. Therefore, management believes the Corporation has no significant exposure to interest rate risk through its financial instruments as at September 30, 2025. Liquidity risk Liquidity risk is the risk that the Corporation will not be able to meet its obligations associated with financial liabilities. The Corporation has a planning and budgeting process in place by which it anticipates and determines the funds required to support normal operation requirements. The Corporation coordinates this planning and budgeting process with its financing activities through the capital management process described in note 6, in normal circumstances.