SEDAR Interim Financial Statements

Interim Condensed Consolidated Financial Statements of September 30, 2025 (Unaudited - Prepared in Canadian dollars) Contents Interim Condensed Consolidated Financial Statements: Interim Condensed Consolidated Statements of Financial Position 2 Interim Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) 3 Interim Condensed Consolidated Statements of Changes in Equity 4 Interim Condensed Consolidated Statements of Cash Flows 5 Notes to the Interim Condensed Consolidated Financial Statements 6-29 2 EARTHLABS INC. Interim Condensed Consolidated Statements of Financial Position (Unaudited - prepared in Canadian dollars) September 30, December 31, Notes 2025 2024 Assets Current Cash and cash equivalents 7 $ 4,789,682 $ 4,122,474 Due from brokers 2,635,213 416,907 Accounts receivable, net of expected credit losses (ECL) 4, 23(a) 309,152 519,491 Investments, at fair value 5, 23(b) 60,553,876 32,912,428 Equity investment 6, 15(b) 1,757,295 1,782,628 Sales tax recoverable 21,797 47,787 Income tax receivable - 268,362 Prepaids 8 753,070 281,192 70,820,085 40,351,269 Property and equipment, net 26 144,782 136,296 Right-of-use assets, net 9, 26 858,503 992,417 Intangible assets 10 2,737,333 2,826,438 Goodwill 11 624,290 624,290 $ 75,184,993 $ 44,930,710 Liabilities and Equity Current Accounts payable and accrued liabilities 15(f) $ 1,116,489 $ 1,697,947 Due to brokers 123,987 - Sales tax payable 132,243 197,481 Deferred revenue 12 6,113,649 3,452,044 Lease liabilities 13 157,152 141,992 Promissory note 766,950 726,458 8,410,470 6,215,922 Deferred tax liabilities 14 2,220,060 - Non-current lease liabilities 13 769,678 889,653 11,400,208 7,105,575 Equity Share capital 16 46,868,758 46,534,758 Contributed surplus 16(b) 5,939,523 6,040,385 Retained earnings (deficit) 10,976,504 (14,750,008) 63,784,785 37,825,135 $ 75,184,993 $ 44,930,710 Commitments and contingencies 24 As at September 30, 2025 and December 31, 2024 The accompanying notes are an integral part of these interim condensed consolidated financial statements 3 EARTHLABS INC. Interim Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited - prepared in Canadian dollars) Notes 2025 2024 Revenue Advertising and sponsorships $ 2,189,792 $ 1,405,283 $ 5,379,047 $ 4,265,753 Subscriptions 313,641 310,090 937,661 914,697 Sales of exploration maps 41,640 35,027 118,252 140,108 Net investment gains 18 23,138,120 944,686 31,701,678 3,827,914 Other income 15(e), 19 322,536 98,654 902,295 575,882 26,005,729 2,793,740 39,038,933 9,724,354 Expenses Operating, general and administrative 15(a), 20 3,151,437 2,776,548 9,323,710 8,099,814 Research and development 350,535 840,751 1,648,280 2,430,756 Finance expenses 13 30,240 36,125 93,015 109,911 3,532,212 3,653,424 11,065,005 10,640,481 Loss from equity investment 6 (5,185) (13,874) (25,333) (30,385) Income (loss) before income taxes 22,468,332 (873,558) 27,948,595 (946,512) Income tax expense (recovery) 14 2,179,374 (2,022) 2,222,083 281,595 Net income (loss) and comprehensive income (loss) for the period $ 20,288,958 $ (871,536) $ 25,726,512 $ (1,228,107) Earnings (loss) per common share for the period 16(c) Basic $ 0.15 $ (0.01) $ 0.19 $ (0.01) Diluted $ 0.15 $ (0.01) $ 0.19 $ (0.01) Weighted average number of common shares outstanding Basic 16(c) 138,799,095 137,568,449 138,187,373 137,467,187 Diluted 16(c) 139,629,713 137,568,449 138,428,245 137,467,187 Three And Nine Months Ended Septe --- mber 30, The accompanying notes are an integral part of these interim condensed consolidated financial statements 2025 2024 Three Months Ended September 30, Nine Months Ended September 30, 4 EARTHLABS INC. Notes Number of shares Share capital Contributed surplus Retained earnings (deficit) Total equity Balance at December 31, 2023 137,388,527 46,426,591 $ 5,797,766 $ (8,562,724) $ 43,661,633 $ Net loss and comprehensive loss for the period - - - (1,228,107) (1,228,107) Shares issued pursuant to exercise of options 16(b) 166,666 58,167 (24,834) - 33,333 Shares issued pursuant to acquisition of social media accounts 16(a) 243,902 50,000 - - 50,000 Stock-based compensation expense 16(b) - - 233,014 - 233,014 Balance at September 30, 2024 137,799,095 46,534,758 $ 6,005,946 $ (9,790,831) $ 42,749,873 $ Balance at December 31, 2024 137,799,095 46,534,758 $ 6,040,385 $ (14,750,008) $ 37,825,135 $ Net income and comprehensive income for the period - - - 25,726,512 25,726,512 Shares issued pursuant to exercise of options 16(b) 1,000,000 334,000 (154,000) - 180,000 Stock-based compensation expense 16(b) - - 53,138 - 53,138 Balance at September 30, 2025 138,799,095 46,868,758 $ 5,939,523 $ 10,976,504 $ 63,784,785 $ Interim Condensed Consolidated Statements of Changes in Equity Nine Months Ended September 30, (Unaudited - prepared in Canadian dollars) The accompanying notes are an integral part of these interim condensed consolidated financial statements 5 EARTHLABS INC. Interim Condensed Consolidated Statements of Cash Flows Nine Months Ended September 30, (Unaudited - prepared in Canadian dollars) Notes 2025 2024 Cash flows from (used in) operating activities Net income (loss) for the period 25,726,512 $ (1,228,107) $ Items not affecting cash Net investment gains 18 (31,701,678) (3,827,914) Gain on sale of property and equipment (774) - Loss from equity investment 6 25,333 30,385 Non-cash interest expense 19,634 27,243 Stock-based compensation expense 16(b) 53,138 233,014 Amortization and depreciation 256,577 407,363 Provision for expected credit losses 7,968 102,000 Finance expense 93,015 109,911 Deferred tax expense 2,220,060 458,466 Acquisition of social media accounts - 50,000 (3,300,215) (3,637,639) Changes in non-cash working capital balances Proceeds on disposition of investments 22,752,213 9,456,295 Purchases of investments (18,691,983) (7,271,983) Increase in due from brokers (2,218,306) (68,306) Decrease (increase) in accounts receivable, net of expected credit losses (ECL) 202,371 (376,153) Decrease (increase) in sales tax recoverable 25,990 (320) Decrease in income tax receivable 268,362 590,029 Increase in prepaids (471,878) (76,855) Increase (decrease) in accounts payable and accrued liabilities (581,458) 145,252 Increase in due to brokers 123,987 - Increase (decrease) in sales tax payable (65,238) 71,236 Increase in deferred revenue 2,661,605 994,169 705,450 (174,275) Cash flows from (used in) financing activities Proceeds pursuant to exercise of options 180,000 33,333 Principal payments of lease liabilities, including deposit 13 (176,972) (173,452) 3,028 (140,119) Cash flows used in investing activities Purchases of property and equipment (43,881) (85,587) Proceeds on sale of property and equipment 2,611 - (41,270) (85,587) Net increase (decrease) in cash and cash equivalents during the period 667,208 (399,981) Cash and cash equivalents, beginning of period 4,122,474 5,227,657 Cash and cash equivalents, end of period 4,789,682 $ 4 --- ,827,676 $ Supplemental cash flow information 21 The accompanying notes are an integral part of these interim condensed consolidated financial statements EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 6 1. Nature of business: EarthLabs Inc. (“EarthLabs” or the "Company") was incorporated under the Canada Business Corporations Act on May 1, 2017. On February 21, 2019, the Company commenced trading on the TSX Venture Exchange (“TSXV”) under the symbol “SPOT”. The Company also trades on the OTCQX Best Market under the symbol “SPOFF” and on the Frankfurt Stock Exchange under the symbol “8EK0”. The Company’s head office is at 69 Yonge Street, Suite 200, Toronto, Ontario, M5E 1K3. EarthLabs is a mining investment, technology and media company that aims to provide strategic leverage to the metals and mining sector through investments, royalties and a full suite of data- driven media SaaS tools and services. These interim condensed consolidated financial statements were approved for issuance by the Company’s board of directors on November 20, 2025. 2. Basis of preparation: (a) Statement of compliance: These interim condensed consolidated financial statements are unaudited and have been prepared on a condensed basis in accordance with International Accounting Standard 34, Interim Financial Reporting, issued by the International Accounting Standards Board (“IASB”), and the applicable interpretations of the IFRS Interpretations Committee, using accounting policies consistent with IFRS® Accounting Standards. These interim condensed consolidated financial statements for the three and nine months ended September 30, 2025 and 2024 should be read together with the annual financial statements as at and for the year ended December 31, 2024. The same material accounting policies and methods of computation were followed in the preparation of these interim condensed consolidated financial statements as were followed in the preparation of and as described in Note 3 of the annual consolidated financial statements as at and for the year ended December 31, 2024. Effective January 1, 2025, the Company adopted the amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates. The amendment specifies when a currency is exchangeable into another currency and when it is not, how a company determines the exchange rate to apply when a currency is not exchangeable, and the required disclosure of additional information when a currency is not exchangeable. The adoption of this amendment did not have any impact on the Company’s interim condensed consolidated financial statements. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 7 2. Basis of preparation (continued): (b) Basis of presentation: These interim condensed consolidated financial statements have been prepared using the historical cost convention except for certain financial instruments which have been measured at fair value. All monetary references expressed in these notes are references to Canadian dollar amounts (“$”). (c) Basis of consolidation: These interim condensed consolidated financial statements include the financial statements of EarthLabs and its wholly-owned Canadian operating subsidiaries, CEO.CA Technologies Ltd. (“CEO.CA”), EarthLabs Media Inc. (“ELM”) (formerly Resource Quantamental Corp.), DigiGeoData --- Inc. (“DigiGeoData”), and Chairman Ventures Inc. (formerly 14101634 Canada Inc.). On February 1, 2025, EarthLabs completed a vertical short form amalgamation with its wholly- owned subsidiary, DigiGeoData. The amalgamation will not have any significant effect on the business and operations of EarthLabs and the shares of EarthLabs will continue to be listed on the TSX Venture Exchange. See Note 3. (d) Equity investment: The Company accounts for equity investments using the equity method. Under the equity method, the Company’s investment in an associate is initially recognized at cost and is subsequently increased or decreased to recognize the Company’s share of earnings or losses of the associate, and for impairment losses after the initial recognition date. The Company’s share of an associate’s losses that are in excess of its investment in the associate are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. The Company’s share of earnings or losses of associates are recognized through net income or loss during the period. Cash distributions received from an associate are accounted for as a reduction in the carrying amount of the Company’s investment in the associate. At the end of each reporting period, the Company assesses whether there is any objective evidence that an investment in an associate is impaired. Objective evidence includes observable data indicating that there is a measurable decrease in the estimated future cash flows of the associate’s operations. When there is objective evidence that an investment in an associate is impaired, the carrying amount of such investment is compared to its recoverable amount, being the greater of its fair value less costs of disposal and value in use (i.e., present value of its future cash flows). EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 8 2. Basis of preparation (continued): If the recoverable amount of an investment in an associate is less than its carrying amount, then an impairment loss is recognized in that period. When an impairment loss reverses in a subsequent period, the carrying amount of the investment in an associate is increased to the revised estimate of the recoverable amount to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had an impairment loss not been previously recognized. A reversal of an impairment loss is recognized through net income or loss in the period in which the reversal occurs. As at September 30, 2025, the Company holds a 27.5% (December 31, 2024 – 27.5%) interest in Golden Planet Mining Corp. (“GPM”), has representation on its board and has shared management. Thus, the Company has significant influence over GPM. Golden Planet Mining Corp has a December 31 year-end, which is the same year-end as the Company. See Note 6 and 15(b). (e) Critical accounting judgments, estimates and assumptions: The preparation of these interim condensed consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions a --- re continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Uncertainty about these judgments, estimates and assumptions could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in future periods. The information about significant areas of estimation uncertainty and judgment considered by management in preparing the interim condensed consolidated financial statements were the same as those in the preparation of the annual consolidated financial statements as at and for the year ended December 31, 2024. 3. Amalgamation with DigiGeoData Inc: On February 1, 2025, EarthLabs completed a vertical short-form amalgamation with its wholly- owned subsidiary, DigiGeoData Inc., under the provisions of the Canada Business Corporations Act. As a result of the amalgamation, the subsidiary was legally dissolved, and its assets, liabilities, and operations were assumed by EarthLabs. The amalgamation of the EarthLabs and DigiGeoData was undertaken in order to simplify the corporate structure of the Company and to reduce administrative costs. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 9 3. Amalgamation with DigiGeoData Inc (continued): The transaction is considered to be under common control and does not meet the definition of a business combination under IFRS 3, Business Combinations. In accordance with the Company’s accounting policy for transactions under common control, the assets and liabilities of the amalgamated subsidiary were carried forward at their existing book values. As DigiGeoData was wholly-owned and fully consolidated prior to the amalgamation, the transaction had no impact on the Company’s consolidated financial position or results. Accordingly, no gain or loss was recognized in the interim consolidated financial statements as a result of the amalgamation. The amalgamation was an internal corporate restructuring with no impact on the Company’s operations or cash flows. 4. Accounts receivable, net of expected credit losses: Accounts receivable primarily consists of receivables relating to advertising services, subscriptions and sales of digital maps. Accounts receivable, net of expected credit losses consist of the following as at September 30, 2025 and December 31, 2024 (See Note 23(a)): September 30, 2025 December 31, 2024 Accounts receivable 460,490 $ 803,734 $ Expected credit loss provision (151,338) (284,243) 309,152 $ 519,491 $ 5. Investments, at fair value and financial instruments hierarchy: (a) The fair value and cost of investments, at fair value are as follows as at September 30, 2025 and December 31, 2024: Fair Value Cost September 30, 2025 60,553,876 $ 33,033,791 $ December 31, 2024 32,912,428 $ 30,528,207 $ (b) As at September 30, 2025, included in investments, at fair value were securities of private companies with a fair value totaling $9,336,241 (cost of $7,514,576) (December 31, 2024 – $7,787,963 and cost of $6,132,684) measured in accordance with the Company’s accounting policy for private company investments. (c) Financial instruments hierarchy: The fair value measurements use a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The level in the hierarchy within which the fair value me --- asurement is categorized is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. The fair value hierarchy has the following levels: (i) Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1). EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 10 5. Investments at fair value and financial instruments hierarchy (continued): (ii) Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2). (iii) Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3). For financial instruments that are recognized at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. Investments which are in Level 3 and become public issuers during the period are transferred to Level 1 or 2. The following table presents the Company’s investments, measured at fair value and categorized into levels of the fair value hierarchy on the consolidated statements of financial position as at September 30, 2025 and December 31, 2024: Level 1 Level 2 Level 3 Investments, at fair value Total September 30, 2025 32,671,625 $ 18,546,010 $ 9,336,241 $ 60,553,876 $ December 31, 2024 20,507,431 $ 4,617,034 $ 7,787,963 $ 32,912,428 $ Valuation technique – observable market Valuation technique – non-observable market inputs Quoted market price Level 2 includes warrants of public issuers and common stock of public issuers, whose resale is currently restricted. These securities typically have a 120-day hold period and are valued by applying a discount against the price of the unrestricted public stock price. Once the restriction has elapsed, these securities will become Level 1 securities. The following table presents the changes in fair value measurements of financial instruments classified as Level 3 for the nine months ended September 30, 2025 and year ended December 31, 2024. These financial instruments are measured at fair value utilizing non- observable market inputs based on specific company information and general market conditions. The net change in unrealized gains are recognized in the interim condensed consolidated statements of income and comprehensive income. Opening balance at January 1, Purchases Proceeds from Dispositions Transfer to Level 1 or 2 Net investment gains Ending balance September 30, 2025 7,787,963 $ 2,482,566 $ (1,778,112) $ (1,333,690) $ 2,177,514 $ 9,336,241 $ December 31, 2024 9,028,586 $ 1,370,590 $ (56,298) $ (3,970,912) $ 1,415,997 $ 7,787,963 $ Investments which are in Level 3 and become public issuers during the period are transferred to Level 1 or 2. These represents the only type of transfer between Levels during the reporting periods. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 11 5. Investments at fair value and financial instruments hierarchy (continued): Significant unobservable inputs used in the fair value measurement of Level 3 investments wer --- e: Fair value at September 30, 2025 Valuation technique Unobservable input % of Investments Sensitivity to changes in significant unobservable inputs (%) Unlisted private equities 1,564,917 $ New investment Recent acquisition price 2.6 Recent transaction price Unlisted private equities 7,657,860 Recent transaction calibration Recent transaction calibration 12.6 Recent transaction price – market trends Unlisted warrants 113,464 Black Scholes valuation model Market prices, volatility, discount rate 0.2 116.7% volatility 9,336,241 $ 15.4 For investments valued based on trends in comparable publicly traded companies, general market conditions and specific company information, the inputs used can be highly judgmental. A +/- 25% change on the fair value of this investment will result in a corresponding +/- $2,334,060 (December 31, 2024 - $1,946,991) change in the total fair value of the investments. While this illustrates the overall effect of changing the values of the unobservable inputs by a set percentage, the significance of the impact and the range of reasonably possible alternative assumptions may differ significantly between investments, given their different terms and circumstances. The sensitivity analysis is intended to reflect the uncertainty inherent in the valuation of these investments under current market conditions, and its results cannot be extrapolated due to non-linear effects that changes in valuation assumptions may have on the fair value of this investment. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 12 5. Investments at fair value and financial instruments hierarchy (continued): Furthermore, the analysis does not indicate a probability of such changes occurring and it does not necessarily represent the Company’s view of expected future changes in the fair value of this investment. Any management actions that may be taken to mitigate the inherent risks are not reflected in this analysis. 6. Equity investment: On September 30, 2025 and December 31, 2024, the Company owned 18,047,186 common shares (27.5% on a non-diluted basis) of Golden Planet Mining Corp. (“GPM”), has representation on its board and has one shared management member. Thus, the Company has significant influence over GPM and equity accounts its investment in GPM. Golden Planet Mining Corp has a December 31 year-end, which is the same year-end as the Company. See Note 15(b). As at September 30, 2025 and December 31, 2024, the Company determined that there were no indicators of impairment on the equity investment in GPM. The following is a summary of the financial information of GPM (100%): September 30, 2025 December 31, 2024 Cash and cash equivalents 6,214,388 $ 6,360,163 $ Other current assets 58,847 7,874 Non-current assets 146,775 146,775 Current liabilities (3,168) (5,919) Net assets 6,416,842 $ 6,508,893 $ Interim Condensed Consolidated statements of income (loss) and comprehensive income (loss) highlights for the three and nine months ended September 30, 2025 and 2024: 2025 2024 2025 2024 Other expenses 68,869 $ 70,132 $ 239,024 $ 262,075 $ Total net loss 68,869 70,132 239,024 262,075 Other comprehensive income 50,029 19,718 146,973 151,667 Total net loss and comprehensive loss 18,840 $ 50,414 $ 92,051 $ 110,408 $ Nine months ended September 30, Three months ended September 30, EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statemen --- ts September 30, 2025 (Unaudited - Prepared in Canadian dollars) 13 6. Equity investment (continued): The following table reconciles the summarized financial information to the carrying amount of EarthLabs’ interest in GPM: September 30, 2025 December 31, 2024 Opening net assets - GPM 6,508,893 $ 7,801,481 $ Total net loss and comprehensive loss - GPM (92,051) (1,292,588) Closing net assets - GPM 6,416,842 $ 6,508,893 $ EarthLabs's ownership 27.52% 27.52% EarthLabs's share of closing net assets 1,765,914 $ 1,791,247 $ Goodwill relating to investment in GPM (8,619) (8,619) Carrying amount in the consolidated statements of financial position 1,757,295 $ 1,782,628 $ The following is a summary of the Company’s investment in GPM: GPM Equity investment as at December 31, 2023 2,138,352 $ EarthLabs’s share of loss for the period (30,385) Equity investment as at September 30, 2024 2,107,967 $ Equity investment as at December 31, 2024 1,782,628 $ EarthLabs’s share of loss for the period (25,333) Equity investment at September 30, 2025 1,757,295 $ 7. Financial assets and (liabilities) other than investments at fair value: Financial assets and liabilities other than investments at fair value are as follows as at September 30, 2025 and December 31, 2024: September 30, 2025 December 31, 2024 Cash and cash equivalents 4,789,682 $ 4,122,474 $ Due from brokers 2,635,213 416,907 Accounts receivable, net of expected credit losses 309,152 519,491 Accounts payable and accrued liabilities (1,116,489) (1,697,947) Due to brokers (123,987) - Promissory note (766,950) (726,458) 5,726,621 $ 2,634,467 $ The carrying values of cash and cash equivalents, due from/to brokers, accounts receivable, net of expected credit losses, accounts payable and accrued liabilities approximate their fair values due to the short term to maturity for these instruments. Promissory note is recorded at amortized cost. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 14 7. Financial assets and (liabilities) other than investments at fair value (continued): Cash and cash equivalents consist of the following as at September 30, 2025 and December 31, 2024: September 30, 2025 December 31, 2024 Cash 2,258,193 $ 696,575 $ Cash equivalents 2,531,489 3,425,899 4,789,682 $ 4,122,474 $ As at September 30, 2025 and December 31, 2024, cash equivalents were comprised of Guarantee Investment Certificates and money market funds which are cashable at any time. 8. Prepaids: Prepaids consist of the following as at September 30, 2025 and December 31, 2024: September 30, 2025 December 31, 2024 Software subscriptions and licenses 219,344 $ 192,913 $ Conferences and marketing 498,208 29,953 Insurance 26,485 18,312 Stock exchange listing fees 8,908 35,632 Other 125 4,382 753,070 $ 281,192 $ 9. Right-of-use assets, net: Right-of-use assets are as follows as at September 30, 2025 and December 31, 2024: Nine Months Ended September 30, 2025 Year Ended December 31, 2024 Balance, beginning of period 992,417 $ 1,170,971 $ Amortization (133,914) (178,554) Balance, end of period 858,503 $ 992,417 $ The right-of-use assets is amortized straight-line over 3-7 years. Refer to Note 13 for further details. 10. Intangible assets: A continuity of intangible assets are as follows for the nine months ended September 30, 2025 and year ended December 31, 2024: Cost Technology Trade name/Brand Customer relationships Total Balance – Decemb --- er 31, 2023 60,000 $ 1,330,000 $ 1,760,000 $ 3,150,000 $ Balance – December 31, 2024 60,000 $ 1,330,000 $ 1,760,000 $ 3,150,000 $ Balance – September 30, 2025 60,000 $ 1,330,000 $ 1,760,000 $ 3,150,000 $ EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 15 10. Intangible assets (continued): Accumulated amortization Technology Trade name/Brand Customer relationships Total Balance – December 31, 2023 1,000 $ - $ 22,000 $ 23,000 $ Amortization 12,000 - 288,562 300,562 Balance – December 31, 2024 13,000 $ - $ 310,562 $ 323,562 $ Amortization 9,000 - 80,105 89,105 Balance – September 30, 2025 22,000 $ - $ 390,667 $ 412,667 $ Carrying Value Technology Trade name/Brand Customer relationships Total Balance – December 31, 2024 47,000 $ 1,330,000 $ 1,449,438 $ 2,826,438 $ Balance – September 30, 2025 38,000 $ 1,330,000 $ 1,369,333 $ 2,737,333 $ 11. Goodwill: As at September 30, 2025 and December 31, 2024, the Company had goodwill of $624,290 relating to its acquisition of The Northern Miner Group (in December 2023). 12. Deferred revenue: Deferred revenues are recognized in connection with advertising, sponsorships, subscription revenues and sale of exploration maps. Executive advertising revenues earned through CEO.CA are recognized based on the number of digital advertising impressions provided as a percentage of the total number of impressions promised within the contract. Executive advertising contracts are 6 months in length. There may be differences between the timing of collections and the number of digital advertising impressions provided at year end. Customers obtain the benefits of sponsorship and advertising services as sponsorship and advertising material are displayed on and in the Company’s digital and print media and as promotional events occur. Advertisements and naming rights are displayed or presented during the contractual period through the duration of the sponsorship campaign and revenue is recognized over time during the contractual period. Invoices are payable during each sponsorship campaign in accordance with contractual payment terms. The Company also recognizes revenues earned in connection with the sale of digital advertising packages, subscriptions, post-contract customer support services and ad hoc service and training rateably over the service term specified in the revenue contracts. These service terms range anywhere between one month to one year. There may be differences between the timing of collections and the completion of the respective performance obligations at year end. Where amounts collected from customers exceed revenue recognized, the difference is recorded as deferred revenue. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 16 12. Deferred revenue (continued): The following table summarizes the changes in the Company’s deferred revenue during the nine months ended September 30, 2025 and year ended December 31, 2024: September 30, 2025 December 31, 2024 Deferred revenue, at beginning of the period 3,452,044 $ 1,921,102 $ Amounts billed 8,373,554 6,263,399 Revenue recognized (5,711,949) (4,732,457) Deferred revenue, at end of the period 6,113,649 $ 3,452,044 $ As at September 30, 2025, deferred revenue was $6,113,649 (December 31, 2024 - $3,452,044) and the Company expects that a majority of the deferred revenue will be re --- cognized in the next 12 months. 13. Lease liabilities: In November 2020, the Company signed a lease for premises in Toronto, Ontario which started on December 1, 2020 for annual payments of $42,900 plus operating costs and applicable taxes until April 30, 2024. In December 2023, the Company signed a lease for new premises in Toronto, Ontario, which replaced the Company’s current Toronto lease and commenced on December 1, 2023 for annual payments of approximately $203,994 (increasing by 2% each year) plus applicable taxes until November 30, 2030. In August 2022, the Company signed a lease for premises in Montreal, Quebec, which started August 1, 2022 for annual payments of approximately $21,239 (increased by the CPI rate each year) plus applicable taxes until July 31. 2027. The following table summarizes the changes in the Company’s lease liabilities during the nine months ended September 30, 2025 and year ended December 31, 2024: Balance – December 31, 2023 1,155,154 $ Repayments (231,712) Finance expense 108,203 Balance – December 31, 2024 1,031,645 $ Repayments (176,972) Finance expense 72,157 Balance - September 30, 2025 926,830 $ Lease liabilities September 30, 2025 December 31, 2024 Current lease liabilities 157,152 $ 141,992 $ Non-current lease liabilities 769,678 889,653 Total lease liabilities 926,830 $ 1,031,645 $ EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 17 13. Lease liabilities (continued): As at September 30, 2025, future minimum annual lease payments under operating leases for premises are approximately as follows: 2025 59,440 $ 2026 241,114 2027 233,663 2028 221,178 2029 225,601 2030 210,586 Prepaid rent deposits (21,500) Total lease obligations 1,170,082 Discount at effective interest rate of 9%-15% (243,252) Net lease liabilities, as at September 30, 2025 926,830 Non-current lease liabilities as at September 30, 2025 (769,678) Current lease liabilities as at September 30, 2025 157,152 $ 14. Income tax expense and deferred tax liabilities: For the three and nine months ended September 30, 2025, the Company has calculated the provision for income taxes by applying the discrete effective tax rate method based on actual income and loss for the period. The effective tax rate for the three and nine months ended September 30, 2025 was 9.7% and 8.0%, respectively (three and nine months ended September 30, 2024 – 0.2% and –29.8%, respectively). The Company’s income tax expense differs from the amount that would be computed by applying the combined federal and provincial income tax rates (23.0% - 26.5%) primarily due to investments held on capital account, non-deductible stock compensation, and valuation allowances on certain deferred tax assets in subsidiaries. 15. Related party transactions: All transactions with related parties have occurred in the normal course of operations. (a) During the three and nine months ended September 30, 2025 and 2024, key management personnel are defined as those individuals having authority and responsibility for planning, directing, and controlling the activities of the Company. EarthLabs considers Denis Laviolette, its Executive Chairman and Chief Executive Officer (“EC&CEO”), Vincent Dube-Bourgeois, its President and Director (“President”), Binh Quach, its Chief Financial Officer and Corporate Secretary (“CFO”), Cejay Kim, its Chief Business Officer, and Mathew Wilson, its Chief Investment Office --- r (“CIO”) to be its key management personnel, in addition to its board of directors. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 18 15. Related party transactions (continued): Compensation of key management is included in the interim condensed statements of income and comprehensive income for the three and nine months ended September 30: 2025 2024 2025 2024 Salaries and consulting fees 281,250 $ 281,250 $ 843,750 $ 843,750 $ Directors fees 20,000 20,000 60,000 60,000 Stock-based compensation expense - - - 47,941 Employee benefits 5,629 5,885 16,887 15,300 306,879 $ 307,135 $ 920,637 $ 966,991 $ Three months ended September 30, Nine months ended September 30, (b) As at September 30, 2025, the Company also has an equity investment in Golden Planet Mining Corp. of $1,757,295 (December 31, 2024 - $1,782,628). The Company’s EC&CEO is also a director and CEO of GPM. See Note 6. (c) As at September 30, 2025, the Company has an investment in Sterling Metals Corp. (“Sterling”), a mineral exploration company trading on the TSX Venture Exchange under the symbol “SAG” of $6,352,546 (December 31, 2024 - $150,000). The Company’s CIO is also a director and CEO of Sterling. (d) As at September 30, 2025, the Company has an investment in Kirkland Lake Discoveries Corp. (“KLDC”), a mineral exploration company trading on the TSX Venture Exchange under the symbol “KLDC”, with a carrying fair value of $3,944,238 (December 31, 2024 - $400,614). The Company’s CEO and President who are directors of the Company are also directors of KLDC. The address of KLDC’s corporate office and principal place of business is 25 Adelaide Street East, Suite 1400, Toronto, Ontario, M5C 3A,1 Canada. As at September 30, 2025 and December 31, 2024, the Company owned less than 10% of KLDC’s outstanding shares. (e) During the three and nine months ended September 30, 2025, the Company recorded other revenue of $1,950 and $5,850, respectively (three and nine months ended September 30, 2024 - $1,950 and $3,575, respectively) from Harfang Exploration Inc. (“Harfang”), a mineral exploration company trading on the TSX Venture Exchange under the symbol “HAR”. As at September 30, 2025 and December 31, 2024, the Company did not have an investment in Harfang. The Company’s President is a director of Harfang. (f) As at September 30, 2025, included in accounts payable and accrued liabilities is $5,076 (December 31, 2024 - $6,882) due to the officers of the Company, relating to reimbursement of expenses. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 19 16. Equity: (a) Authorized: unlimited number of common shares (no par value). On September 25, 2024, EarthLabs acquired certain social media accounts by issuing an aggregate of 243,902 common shares at a fair value of $50,000. (b) Stock options: The Company grants stock options to eligible directors, officers, key employees and consultants under its 2018 stock option plan to enable them to purchase common shares of the Company. Under the terms of the plan, the number of common shares that may be issued pursuant to the exercise of options granted under the plan may not exceed 20% of the number of common shares outstanding at the time of grant. The exercise price of an option granted under the plan cannot be less than the closing price of the common shares on --- the last day on which the common shares trade prior to the grant date of the option. An individual can receive grants of no more than 5% of the outstanding shares of the Company on a yearly basis and options are exercisable over a period not exceeding five years. Options granted are accounted for by the fair value method of accounting for stock-based compensation. The Company records compensation expense and credits contributed surplus for all options granted. During the nine months ended September 30, 2025 and 2024, the Company did not grant any stock options. For the three months ended September 30, 2025, included in the interim condensed consolidated statements of income (loss) and comprehensive income (loss) is stock-based compensation expense of $21,000 (three months ended September 30, 2024 - $57,868) relating to the stock options granted to directors, officers, employees and consultants of the Company. For the nine months ended September 30, 2025, included in the interim condensed consolidated statements of income (loss) and comprehensive income (loss) is stock-based compensation expense of $53,138 (nine months ended September 30, 2024 - $233,014) relating to the stock options granted to directors, officers, employees and consultants of the Company. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 20 16. Equity (continued): A summary of the status of the Company’s stock options as at September 30, 2025 and 2024 and changes during the periods then ended is presented below: Stock options # of options Weighted averge exercise price # of options Weighted averge exercise price Outstanding, at beginning of period 19,544,799 0.24 $ 20,172,799 0.24 $ Exercised (1,000,000) 0.18 (166,666) 0.20 Cancelled/forfeited (2,873,866) 0.24 (423,334) 0.26 Outstanding, at end of period 15,670,933 0.25 $ 19,582,799 0.24 $ Exercisable, at end of period 14,785,858 0.25 $ 17,643,191 0.25 $ September 30, 2025 September 30, 2024 As at September 30, 2025, the weighted average remaining life of the stock options was 2.8 years (September 30, 2024 – 3.2 years). The following table summarizes information about stock options outstanding and exercisable as at September 30, 2025: Number of options outstanding Number of options exercisable Exercise price Expiry date 275,000 275,000 0.68 $ April 27, 2026 2,035,000 2,035,000 0.485 May 31, 2027 12,533,333 12,199,999 0.20 September 8, 2028 827,600 275,859 0.20 December 15, 2028 15,670,933 14,785,858 (c) Basic and diluted earnings per common share based on net income (loss) for the three and nine months ended September 30: Numerator: 2025 2024 2025 2024 Net income (loss) for the period 20,288,958 $ (871,536) $ 25,726,512 $ (1,228,107) $ Three months ended September 30, Nine months ended September 30, Denominator: 2025 2024 2025 2024 Weighted average number of common shares outstanding – basic 138,799,095 137,568,449 138,187,373 137,467,187 Weighted average effect of diluted stock options (i) 830,618 - 240,872 - Weighted average number of common shares outstanding – diluted 139,629,713 137,568,449 138,428,245 137,467,187 Three months ended September 30, Nine months ended September 30, EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 21 16. Equity (continued): Earnings (loss) per common share for the period: 2025 2024 2025 2024 Basic 0.15 --- $ (0.01) $ 0.19 $ (0.01) $ Diluted 0.15 $ (0.01) $ 0.19 $ (0.01) $ Three months ended September 30, Nine months ended September 30, (i) The determination of the weighted average number of common shares outstanding – diluted excludes 240,871 and 830,618 shares related to stock options that were anti- dilutive for the three and nine months ended September 30, 2025, respectively (three and nine months ended September 30, 2024 – 19,582,799). (d) Maximum share dilution: The following table presents the maximum number of shares that would be outstanding if all outstanding convertible securities were exercised as at September 30, 2025 and 2024: September 30, 2025 September 30, 2024 Common shares outstanding 138,799,095 137,799,095 Stock options to purchase common shares 15,670,933 19,582,799 Fully diluted common shares outstanding 154,470,028 157,381,894 17. Segmented information: The management of the Company is responsible for the Company’s sales and considers the business to have one operating segment: Financial Technology Division which includes the Company’s financial and media technology (CEO.CA and EarthLabs Media) and investment portfolio. The Company measures this reportable operating segment’s performance based on revenue and segment operating income. The Company has a single reportable geographic segment, Canada, and all of the Company’s assets and equipment are located in Canada. The Company’s operating segments are not reliant on any single external customer. 18. Net investment gains: Net investment gains comprises of the following for the three and nine months ended September 30: 2025 2024 2025 2024 Net realized gains on disposal of on investments 4,213,564 $ 460,878 $ 6,547,864 $ 929,568 $ Net change in unrealized gains on investments 18,924,556 483,808 25,153,814 2,898,346 23,138,120 $ 944,686 $ 31,701,678 $ 3,827,914 $ Nine months ended September 30, Three months ended September 30, EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 22 19. Other income: Other income comprises of the following for the three and nine months ended September 30: 2025 2024 2025 2024 Other sales 185,935 $ 30,984 $ 521,444 $ 303,370 $ Sentiment data reports 42,000 6,500 121,500 6,500 Dividend income - - 117,859 20 Interest income 23,993 45,682 70,275 154,900 Grants and subsidies 69,756 - 69,756 64,326 Gain on sale of property and equipment 774 - 774 - Consulting income and other 78 15,488 687 46,766 322,536 $ 98,654 $ 902,295 $ 575,882 $ Nine months ended September 30, Three months ended September 30, 20. Expenses by nature: Included in operating, general, and administrative expenses for the three and nine months ended September 30 are the following expenses: Notes 2025 2024 2025 2024 Salaries and consulting fees 17(a) 1,943,037 $ 1,553,629 $ 5,516,161 $ 4,338,821 $ Software licensing fees 444,462 410,027 1,359,514 1,057,468 Other office and general 170,098 149,817 538,914 582,543 Other employee benefits 130,283 115,323 462,984 363,548 Professional fees 120,101 161,224 422,157 417,244 Travel and promotion 72,311 82,147 286,578 330,953 Amortization and depreciation 11, 12 85,753 122,069 256,577 407,363 Shareholder relations and filing fees 122,119 54,275 229,718 147,130 Brokerage fees and transaction costs 63,639 28,351 142,024 65,730 Directors’ fees 17(a) 20,000 20,000 60,000 60,000 Stock-based compensation expense 17(a), 18(b) 21,000 57,868 53,138 233,014 Prov --- ision (recovery) for ECLs 6, 26(a) (20,649) 13,977 7,968 102,000 Operating lease payments - 1,995 3,356 3,147 Foreign exchange expense (gain) (20,717) 5,846 (15,379) (9,147) 3,151,437 $ 2,776,548 $ 9,323,710 $ 8,099,814 $ Three months ended September 30, Nine months ended September 30, 21. Supplemental disclosure of cash flow information: The following table shows the supplemental cash flow information for the nine months ended September 30: 2025 2024 Income taxes paid - $ - $ Interest paid 25,712 34,572 EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 23 22. Management of capital: There were no changes in the Company’s approach to capital management during the nine months ended September 30, 2025. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may borrow from its shareholders or raise additional funds. The Company considers its capital to include total equity which amounts to $63,784,785 on September 30, 2025 (December 31, 2024 - $37,825,135). The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern, so that it can provide returns for shareholders. Since inception, the Company has not declared any cash dividends to its shareholders as part of its capital management program. The Company’s current capital resources are sufficient to discharge its current liabilities as at September 30, 2025. 23. Financial instruments and financial risk management: Financial instruments The carrying amounts of accounts receivable, net of ECL, accounts payable and accrued liabilities, and current lease liabilities approximate their fair value due to their short periods to maturity. Promissory note is recorded at amortized cost. Financial risk management The Company has exposure to credit risk, market risk, liquidity risk, and currency risk associated with its financial assets and liabilities. There were no significant or material changes to the Company’s risk management during the nine months ended September 30, 2025. A discussion of the Company’s use of financial instruments and other associated risks is as follows. (a) Credit risk: Credit risk is the risk that the counterparty to a financial instrument will fail to discharge an obligation or commitment that it has entered into with the Company. Financial instruments which potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, due from brokers and accounts receivable. All funds in cash are held in financial institutions that have a credit rating above AA and the Company believes the risk of loss to be remote. The Company has accounts receivable from mining and exploration companies. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 24 23. Financial instruments and financial risk management (continued): The Company’s credit risk arises from the possibility that a counterparty which owes the Company money is unable or unwilling to meet its obligations in accordance with the terms and conditions in the contracts with the Company, which would result in a financial loss to the Company. These specific mining and exploration companies ma --- y be affected by economic factors and government factors which may impact accounts receivable. Management does not believe that a single industry or geographic region represents significant credit risk. This risk is mitigated through established credit management techniques, including monitoring counterparty creditworthiness, setting exposure limits and monitoring exposure against these customer credit limits. The maximum exposure to credit risk is the carrying amount of the Company’s cash and cash equivalents, due from brokers and accounts receivable, net of ECLs which total $7,734,047 as at September 30, 2025 (December 31, 2024 - $5,058,872). An aging of accounts receivable, net of expected credit losses are as follows as at September 30, 2025 and December 31, 2024: September 30, 2025 December 31, 2024 Accounts receivable aging 0-30 days 224,324 $ 299,055 $ 31-60 days 35,715 103,543 61-90 days 49,113 116,893 Greater than 90 days 151,338 284,243 460,490 $ 803,734 $ Expected credit loss provision (151,338) (284,243) Accounts receivable, net of expected credit losses 309,152 $ 519,491 $ The movement in the expected credit loss provision can be reconciled as follows as at September 30, 2025 and December 31, 2024: September 30, 2025 December 31, 2024 Expected credit loss provision: Expected credit loss provision, beginning balance (284,243) $ (155,572) $ Provision used during the period 140,873 2,676 Provision recorded during the period (7,968) (131,347) Expected credit loss provision, ending balance (151,338) $ (284,243) $ The following default rates are used to calculate the expected credit loss provision on accounts receivable as at September 30, 2025: Total 0-30 days 31-60 days 61-90 days Greater than 90 days Default rates 0% 0% 0% 100% Accounts receivable 460,490 $ 224,324 $ 35,715 $ 49,113 $ 151,338 $ Expected credit loss provisions 151,338 $ - $ - $ - $ 151,338 $ EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 25 23. Financial instruments and financial risk management (continued): The following default rates are used to calculate the expected credit loss provision on accounts receivable as at December 31, 2024: The Company does not have collateral to any of its receivable balances. (b) Market risk: Market risk is the risk that the fair value of future cash flows from the Company’s financial instruments will significantly fluctuate because of changes in market prices. The value of the financial instruments can be affected by changes in interest rates, foreign exchange rates, and equity and commodity prices. The Company is exposed to market risk in trading its investments and unfavourable market conditions could result in dispositions of investments at less than favourable prices. Additionally, the Company adjusts its investments to fair value at the end of each reporting period. This process could result in significant write-downs of the Company’s investments over one or more reporting periods, particularly during periods of overall market instability, which would have a significant unfavourable effect on the Company’s financial position. As at September 30, 2025 and December 31, 2024, the Company held foreign denominated investments as follows, therefore, market risk also includes currency risk. Fair value of investments in Canadian dollars denominated in: September 30, 2025 December 31, 2024 Australian dollars 471,034 $ 2,415,635 $ Great B --- ritish pounds 1,308,750 153,750 U.S dollars 4,127,364 2,583,130 5,907,148 $ 5,152,515 $ There were no changes in the way the Company manages market risk during the nine months ended September 30, 2025. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 26 23. Financial instruments and financial risk management (continued): The following table shows the estimated sensitivity of the Company’s after-tax net income for the three and nine months ended September 30, 2025 from a change in the fair value price of the Company’s investments with all other variables held constant as at September 30, 2025: Percentage of change in closing trade price Increase in after-tax net income from % increase in closing trade price Decrease in after-tax net income from % decrease in closing trade price 2% $ 1,050,610 $ (1,050,610) 4% 2,101,219 (2,101,219) 6% 3,151,829 (3,151,829) 8% 4,202,439 (4,202,439) 10% 5,253,049 (5,253,049) The following table shows the estimated sensitivity of the Company’s after-tax net loss for the three and nine months ended September 30, 2024 from a change in the fair value price of the Company’s investments with all other variables held constant as at September 30, 2024: Percentage of change in closing trade price Decrease in after-tax net loss from % increase in closing trade price Increase in after-tax net loss from % decrease in closing trade price 2% $ 637,348 $ (637,348) 4% 1,274,696 (1,274,696) 6% 1,912,044 (1,912,044) 8% 2,549,392 (2,549,392) 10% 3,186,740 (3,186,740) (c) Liquidity risk: Liquidity risk is the risk that the Company will not have sufficient cash resources to meet its financial obligations as they become due. The Company’s management is responsible for reviewing liquidity resources to ensure funds are available to meet financial obligations as they become due, as well as ensuring funds exist to support business strategies and operating growth. There were no changes to the way that the Company manages liquidity risk during the nine months ended September 30, 2025. The Company’s accounts payable and accrued liabilities are due within less than 1 year as at September 30, 2025 and December 31, 2024. The Company’s cash and cash equivalents balance is sufficient to meet the Company’s current liabilities. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 27 23. Financial instruments and financial risk management (continued): The following table shows the Company’s liabilities and potential due dates related to liquidity risk as at September 30, 2025: Liabilities and obligations Total Less than 1 year 1 – 3 years 4 – 5 years Non-cash payable Accounts payable and accrued liabilities 1,116,489 $ 1,116,489 $ - $ - $ - $ Due to brokers 123,987 123,987 - - - Sales tax payable 132,243 132,243 - - - Deferred revenue 6,113,649 - - - 6,113,649 Promissory note 766,950 766,950 - - - Deferred tax liabilities 2,220,060 - - - 2,220,060 Office and other lease payments 1,170,082 59,440 695,955 414,687 - 11,643,460 $ 2,199,109 $ 695,955 $ 414,687 $ 8,333,709 $ Payments due by period The following table shows the Company’s liabilities and potential due dates related to liquidity risk as at December 31, 2024: The following table shows the Company’s source of liquidity by assets as at September 30, 2025: Assets Total Less than 1 year 1 – 3 years 4 – 5 years N --- on-liquid assets Cash and cash equivalents 4,789,682 $ 4,789,682 $ - $ - $ - $ Due from brokers 2,635,213 2,635,213 - - - Accounts receivable, net of ECLs 309,152 309,152 - - - Investments, at fair value 60,553,876 60,553,876 - - - Equity investment 1,757,295 1,757,295 - - - Sales tax recoverable 21,797 21,797 - - - Prepaids 753,070 - - - 753,070 Property and equipment, net 144,782 - - - 144,782 Right-of-use assets, net 858,503 - - - 858,503 Intangible assets 2,737,333 - - - 2,737,333 Goodwill 624,290 - - - 624,290 75,184,993 $ 70,067,015 $ - $ - $ 5,117,978 $ Liquidity by period EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 28 23. Financial instruments and financial risk management (continued): The following table shows the Company’s source of liquidity by assets as at December 31, 2024: (d) Currency risk: Currency risk is the risk of loss from the Canadian dollar depreciating when it fluctuates against other foreign currencies. The Company presently holds funds in Canadian dollars but some of its receivables are denominated in U.S. dollars. The Company does not engage in any hedging activities to mitigate its foreign exchange risk. A change in the foreign exchange rate of the Canadian dollar versus another currency may increase or decrease the value of the Company’s financial instruments. There were no changes to the way that the Company manages currency risk during the nine months ended September 30, 2025. As at September 30, 2025, the Company had $1,497,055 (US$1,075,394) in net cash and cash equivalents, accounts receivable, due from brokers and accounts payable (September 30, 2024 - $225,678 (US$167,182)) and had the Canadian dollar strengthened or declined by 5% in relation to the U.S. dollar, with all other variables held constant, net income and comprehensive income for the three and nine months ended September 30, 2025 would have decreased or increased, respectively, by approximately $74,853 (three and nine months ended September 30, 2024 - $11,284). In practice, the actual results may differ from this sensitivity analysis and the difference could be material. EARTHLABS INC. Notes to the Interim Condensed Consolidated Financial Statements September 30, 2025 (Unaudited - Prepared in Canadian dollars) 29 24. Commitments and contingencies: In addition to the Company’s liabilities and obligations (see Note 23(c)), the Company is party to legal proceedings and other claims in the ordinary course of its operations. Litigation and other claims are subject to many uncertainties and the outcome of individual matters is not predictable. Where management can estimate that there is a loss probable, a provision has been recorded in its consolidated financial statements, where proceedings are at a premature stage or the ultimate outcome is not determinable, then no provision is recorded. It is possible that the final resolution of these matters may require the Company to make expenditures over an extended period of time and in a range of amounts that cannot be reasonably estimated and may differ significantly from any amounts recorded in these interim condensed consolidated financial statements. Should the Company be unsuccessful in its defense or settlement of one or more of these legal actions, there could be a materially adverse effect on the Company’s consolidated financial position, future expectations, and cash flows. 25. Subsequent events: --- Subsequent to September 30, 2025, 159,334 options exercisable at prices between $0.20 and $0.485 per share expired. 26. Comparative interim condensed consolidated financial statements: The comparative interim condensed consolidated financial statements have been reclassified from statements previously presented to conform to the presentation of the September 30, 2025 interim condensed consolidated financial statements. The Company has reclassed Rights-of-use assets, net from Property and equipment, net in the interim condensed consolidated statements of financial position.