SEDAR Interim Financial Statements

Rapid Dose Therapeutics Corp. Condensed Interim Consolidated Financial Statements November 30, 2025 (Unaudited) (Expressed in Canadian dollars) Rapid Dose Therapeutics Corp. Index Page Notice of No Auditors’ Review 1 Condensed Interim Consolidated Financial Statements Condensed Interim Consolidated Statements of Financial Position 2 Condensed Interim Consolidated Statements of Operations and Comprehensive Loss 3 Condensed Interim Consolidated Statements of Changes in Equity 4 Condensed Interim Consolidated Statements of Cash Flows 5 Notes to Condensed Interim Consolidated Financial Statements 6 - 20 Page | 1 Rapid Dose Therapeutics Corp. Notice of No Auditors Review of Condensed Interim Consolidated Financial Statements Under National Instrument 51-102, if an auditor has not performed a review of condensed interim consolidated financial statements, they must be accompanied by a notice indicating that the condensed interim consolidated financial statements have not been reviewed by an auditor. The accompanying condensed interim consolidated financial statements (unaudited) of Rapid Dose Therapeutics Corp. (the “Company”) have been prepared by management and approved by the Audit Committee and the Board of Directors of the Company. The Company’s independent auditors have not performed a review of these unaudited condensed interim consolidated financial statements in accordance with the standards established by the Canadian Chartered Professional Accountants (CPA) Canada for a review of interim financial statements by an entity’s auditors. Page | 2 Rapid Dose Therapeutics Corp. Condensed Interim Consolidated Statements of Financial Position As at November 30, 2025 and February 28, 2025 (Unaudited) (Expressed in Canadian Dollars) November 30, February 28, Notes 2025 2025 $ $ Assets Current Cash and cash equivalents 109,163 20,717 Amounts receivable 4 258,873 302,613 Inventory 5 179,369 247,007 Prepaid expenses 6 116,843 93,388 664,248 663,725 Non-current Right-of-use asset 7 2,274,888 - Property and equipment 8 849,539 971,224 3,788,675 1,634,949 Liabilities Current Accounts payable and accrued liabilities 9 4,170,837 4,230,708 Notes payable 10 497,500 - Due to related parties 11 196,585 - Secured convertible notes 12 3,134,455 2,609,770 Current portion of lease liability 13 235,587 - 8,234,964 6,840,478 Non-current Lease liability 13 2,199,344 - 10,434,308 6,840,478 Shareholders’ equity Share capital 14 29,232,201 28,256,144 Contributed surplus 15 6,920,819 6,647,315 Warrant reserve 16 4,471,562 4,471,562 Accumulated other comprehensive loss 16,052 16,052 Deficit (47,286,268) (44,596,602) (6,645,633) (5,205,529) 3,788,675 1,634,949 See accompanying notes Going concern Note 1 Subsequent event Note 22 Page | 3 Rapid Dose Therapeutics Corp. Condensed Interim Consolidated Statements of Loss and Comprehensive Loss For the three-month and nine-month periods ended November 30, 2025 and 2024 (Unaudited) (Expressed in Canadian dollars) Three months ended November 30 Nine months ended November 30 Notes 2025 2024 2025 2024 Revenue 17 657,135 501,689 2,112,797 1,416,599 Cost of sales 17 347,339 231,355 1,034,840 561,565 Gross profit 17 309,796 270,334 1,077,957 855,034 Expenses Personnel 383,162 299,691 1,142,276 1,008,529 Stock-based compensation 15 63,854 372,313 273,504 1,040,950 General and administrative 203,919 312,837 557,732 923,538 Sales and marketing 205,411 209,973 424,007 429,779 Research and development 15,205 44,086 20,045 99,623 Depreci --- ation 7,8 126,596 48,160 395,578 181,108 Interest and accretion 12 452,163 347,755 954,480 893,934 1,450,310 1,634,815 3,767,622 4,577,461 Net comprehensive loss for the period (1,140,514) (1,364,481) (2,689,665) (3,722,427) Net loss per common share basic and diluted 0.01 0.01 0.01 0.03 Weighted average number of shares - basic and diluted 131,675,200 124,174,136 131,675,200 124,174,136 See accompanying notes Page | 4 Rapid Dose Therapeutics Corp. Condensed Interim Consolidated Statements of Changes in Equity For the nine months ended November 30, 2025 and 2024 (Unaudited) (Expressed in Canadian dollars) Share Capital Reserves Note Number of shares Amount Warrants Contributed Surplus Accumulated Other Comprehensive Loss Deficit Total $ $ $ $ $ $ Balance, February 29, 2024 117,810,298 26,613,148 4,223,953 5,244,026 16,052 (39,255,133) (3,157,954) Issue of shares 5,005,882 851,000 - - - - 851,000 Issue of shares and warrants for private placement 3,882,349 299,285 281,247 - - - 580,532 Issue of shares for interest on convertible notes 1,619,613 282,357 - - - - 282,357 Issue of shares for interest on related party debt 123,932 21,908 - - - - 21,908 Stock based compensation - - - 1,040,950 - - 1,040,950 Net comprehensive loss - - - - - (3,722,427) (3,722,427) Balance, November 30, 2024 128,442,074 28,067,699 4,505,200 6,284,976 16,052 (42,977,560) (4,103,633) Balance, February 28, 2025 129,534,817 28,256,144 4,471,562 6,647,315 16,052 (44,596,602) (5,205,529) Shares issued for interest on secured convertible notes 14 1,955,999 344,188 - - - - 344,188 Fair value of shares issued on settlement of accounts payable 14 1,888,237 377,647 - - - - 377,647 Shares issued in settlement of directors fees 14 476,190 100,000 - - - - 100,000 Fees for renewal of convertible notes 14 963,886 154,222 154,222 Stock based compensation 15 - - - 273,504 - - 273,504 Net comprehensive loss - - - - - (2,689,665) (2,689,665) Balance, November 30, 2025 134,819,129 29,232,201 4,471,562 6,920,819 16,052 (47,286,268) (6,645,633) See accompanying notes Page | 5 Rapid Dose Therapeutics Corp. Condensed Interim Consolidated Statements of Cash Flows For the three-month and nine-month periods ended November 30, 2025 and 2024 (Unaudited) (Expressed in Canadian dollars) Three months ended November 30 Nine months ended November 30 2025 2024 2025 2024 $ $ $ $ Cash provided by (used in) Operating activities Net comprehensive loss (1,140,514) (1,364,481) (2,689,665) (3,722,427) Items not affecting cash Stock-based compensation 63,854 372,313 273,504 1,040,950 Accretion expense 282,239 252,302 524,685 388,277 Depreciation and amortization 126,596 48,160 395,578 181,108 Shares issued for directors fees - 50,000 100,000 100,000 Shares issued for interest 157,667 93,775 344,180 304,265 Shares for fees for extension of notes 154,522 - 154,522 - (355,636) (590,100) (897,496) (1,807,827) Changes in non-cash operating working capital Amounts receivable 427,040 14,317 43,740 29,917 Inventory 20,914 (38,294) 67,638 18,171 Prepaid expenses (13,362) 53,042 (23,455) 33,356 Accounts payable and accrued liabilities (397,672) 294,633 (59,871) 574,968 Deferred revenue 15,640 - - - (266,745 (266,402) (869,444) (1,151,415) Investing activities Right of use asset - - (2,547,874) - Additions to property and equipment - - (899) - - - (2,548,773) - Financing activities Due to related parties 196,585 (240,144) 196,585 (206,288) Notes payable 164,000 - 497,500 - Lease – right of use (57,174) - 2,434,931 ( --- 29,144) Repayment of unsecured convertible notes - - - (100,000) Issue of shares for private placement - 474,966 377,647 785,355 Issue of shares and warrants - - - 580,532 303,411 234,822 3,506,663 1,030,455 Net change in cash 100,593 (31,580) 88,446 (120,960) Cash, beginning of period 8,570 71,679 20,717 161,059 Cash, end of period 109,163 40,099 109,163 40,099 See accompanying notes Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 6 1. NATURE OF OPERATIONS and CONTINUANCE OF BUSINESS Reporting entity Rapid Dose Therapeutics Corp. (the "Company") is a publicly traded Canadian life sciences company that provides innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. The Company is incorporated under the laws of Ontario. Its head office and registered office is located at 1121 Walker's Line, Unit 3A, Burlington, Ontario, L7N 2G4. Going concern These condensed interim consolidated financial statements have been prepared using International Financial Reporting Standards (“IFRS”) applicable to a going concern, which assume the Company will be able to continue in operation for the foreseeable future and will be able to realize its assets and discharge liabilities and commitments in the normal course of operations. Different measures of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. The Company’s continuation as a going concern is dependent upon the Company's ability to raise equity capital, obtain debt financing and to attain profitable operations to generate funds to meet current and future obligations. During the three-month and nine-month periods ended November 30 2025, the Company reported comprehensive losses of $1,140,514 and $2,689,665 respectively (for the three- and nine-month periods ended November 30, 2024 comprehensive losses of $1,364,481 and $3,722,427 respectively). As at November 30, 2025 the Company had a working capital deficiency of $7,570,716 (November 30 2024 - $6,492,328) and an accumulated deficit of $47,286,268 (November 30, 2024 an accumulated deficit of $41,613,079. The losses limit the Company’s ability to fund its operations. The Company does not have sufficient cash to sustain operations for the next twelve months without additional financing. The continued operations of the Company are dependent upon its ability to generate future cash flows and/or obtain additional financing. Management is of the opinion that sufficient working capital will be obtained from external financing to meet the Company’s liabilities and commitments as they become due; however, they may not be at terms that are favorable to the Company. Although the Company has been successful in the past in raising funds to continue operations, there is no assurance it will be able to do so in the future. These material uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern. These condensed interim consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and balance sheet classifications that would be necessary if the going concern assumption was deemed inappropriate. Such adjustments could be material. Rapid Dose Therapeu --- tics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 7 2. BASIS OF PREPARATION I. Statement of compliance These condensed interim consolidated financial statements (“interim financial statements”) for the three- month and nine-month periods ended November 30, 2025 (and comparative results for the three months and nine-month periods ended November 30, 2024) have been prepared in accordance with International Accounting Standard (“IAS”) 34 – Interim Financial Reporting and therefore do not contain all disclosures required by International Financial Reporting Standards (“IFRS”) for annual financial statements. These condensed interim consolidated financial statements should be read in conjunction with the Company’s 2025 Consolidated Financial Statements and Notes and have been prepared using the same accounting policies described in Note 3 to the 2025 Consolidated Financial Statements and Notes. These condensed consolidated interim financial statements were approved and authorized for issue by the Directors of the Company on January 28, 2026. II. Basis of measurement These condensed interim consolidated financial statements have been prepared on a going concern basis under the historical cost method, except for certain financial instruments which are measured at fair value explained in the accounting policies set out in Note 3 in annual Consolidated Financial Statements. III. Functional and presentation currency These condensed interim financial statements are presented in Canadian dollars, which is the functional currency of the Company and its inactive Canadian subsidiary, Consolidated Consumer Brands Inc. (“CCB”). IV. Basis of consolidation These condensed interim consolidated financial statements include the financial statements of all entities controlled by the Company. The entities controlled by the Company include wholly owned subsidiaries, Rapid Dose Solutions Inc., and Consolidated Consumer Brands Inc. (“CCB”). All inter- company transactions, balances, income and expense are eliminated on consolidation. V. Judgments and estimates The preparation of these condensed interim consolidated financial statements in accordance with IAS 34 requires Management to make judgments and estimates that affect: • the application of accounting policies; • the reported amounts of assets and liabilities; and the amounts of revenue and expenses recognized during the reporting periods. Actual results may differ from estimates made in these condensed interim consolidated financial statements. Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 8 Judgments are made in the selection and assessment of the Company’s accounting policies. Estimates are used mainly in determining the measurement of recognized transactions and balances. Estimates are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Judgments and estimates are often interrelated. The Company’s judgments and estimates are continually re-evaluated to assess whether they remain appropriate. Revisions to accounting estimates are recognize --- d in the period in which the estimates are revised and in future periods affected. The duration and long-term effects on the Company from macroeconomic conditions remain uncertain and Management continues to monitor and assess the impact on the business and on certain judgments and estimates. Details of the accounting policies subject to judgments and estimates that the Company believes could have the most significant impact on the amounts recognized in these condensed interim consolidated financial statements are described in Note 2 to the Company’s 2024 Consolidated Financial Statements and Notes. 3. Changes in accounting standards Standards, Amendments, and Interpretations Issued but not yet Adopted The IASB has issued several new standards and amendments that will be effective on various dates. Standards issued and not yet adopted Certain new standards, amendments, and interpretations to existing IFRS standards have been published but are not yet effective and have not been adopted early by the Company. Management anticipates that pronouncements will be adopted in the Company’s accounting policy for the first period beginning after the effective date of the pronouncement. Information on new standards, amendments, and interpretations is provided below. In January 2020, the IASB issued an amendment to IAS 1, Presentation of Financial Statements (“IAS 1”) to clarify its requirements for the presentation of liabilities in the statement of financial position. The limited scope amendment affected only the presentation of liabilities in the statement of financial position and not the amount or timing of its recognition. The amendment clarified that the classification of liabilities as current or non-current is based on rights that are in existence at the end of the reporting period and specified that classification is unaffected by expectations about whether an entity will exercise its right to defer settlement of a liability. It also introduced a definition of ‘settlement’ to make clear that settlement refers to the transfer to the counterparty of cash, equity instruments, other assets or services. On October 31, 2022, the IASB issued Non-Current Liabilities with Covenants (Amendments to IAS 1). These amendments specify that covenants to be complied with after the reporting date do not affect the classification of debt as current or non-current at the reporting date. The amendment is effective for annual reporting periods beginning on or after January 1, 2024. Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 9 4. AMOUNTS RECEIVABLE November 30, 2025 February 28, 2025 $ $ Trade receivable 200,797 143,014 HST receivable 58,076 159,599 258,873 302,613 5. INVENTORY November 30, 2025 February 28, 2025 $ $ Raw materials 34,750 45,334 Labels and packaging 39,141 87,131 Trading goods 105,478 114,542 179,369 247,007 6. PREPAID EXPENSES November 30, 2025 February 28, 2025 $ $ Prepaid insurance 34,990 47,927 Security deposit 64,796 29,339 Prepaid marketing costs 5,145 7,267 Deposit for inventory 11,912 8,855 116,843 93,388 7. RIGHT-OF-USE ASSET November 30, 2025 February 28, 2025 Non-current $ $ Right-of-use asset 2,547,874 1,466,516 Accumulated depreciation (272,986) (1,466,516) 2,274,888 - For the three-month period ended November 30, 2025, the Company r --- ecorded amortization of the right-of- use asset of $94,366 (three-month period ended November 2024 - $Nil). Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 10 8. PROPERTY AND EQUIPMENT Furniture and fixtures R&D equipment Portable building units Computer hardware Leaseholds Processing equipment Total $ $ $ $ $ $ $ Cost February 29, 2024 61,893 306,003 431,859 199,636 246,618 1,824,062 3,070,071 Additions/Disposals - 1,200 - 4,540 - - 5,740 February 28, 2025 61,893 307,203 431,859 204,176 246,618 1,824,062 3,075,811 Additions/Disposals - - - 899 - - 899 November 30, 2025 61,893 307,203 431,859 205,075 246,618 1,824,062 3,076,710 Accumulated depreciation February 29, 2024 44,954 174,636 174,953 150,884 239,933 1,102,150 1,887,510 Depreciation 3,142 26,514 25,691 10,659 6,685 144,386 217,077 February 28, 2025 48,096 201,150 200,644 161,543 246,618 1,246,536 2,104,587 Depreciation 1,967 15,125 16,911 6,208 - 82,370 122,583 November 30, 2025 50,964 216,275 217,555 167,751 246,618 1,324,616 2,227,167 Net book value February 28, 2025 13,797 106,053 231,215 42,633 - 577,526 971,224 November 30, 2025 11,828 90,927 214,303 48,095 - 495,158 849,539 9. ACCOUNTS PAYABLE AND ACCRUALS November 30, 2025 February 28, 2025 $ $ Accounts payable 1,827,833 1,938,998 Accrued liabilities 2,343,004 2,292,700 4,170,837 4,230,708 10. NOTES PAYABLE November 30, 2025 February 28, 2025 $ $ Notes payable shareholders (i) 221,500 - Note payable (ii) 276,000 - 497,500 - Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 11 (i) Notes payable consists of advances of $221,500 from shareholders of the Company. The notes are unsecured, bear interest at 12% per annum and are due on demand; (ii) An advance in the amount of USD$200,000 was issued to the Company in connection with a Memorandum of Understanding (MOU) regarding the development of a business relationship for the US market. The advance is non-interest bearing, unsecured and due for repayment on termination or completion of an agreement between the parties in conjunction with the intent as set out in the MOU. During the quarter ended November 30, 2025, the Company repaid a loan of $100,000 due to an unrelated third party. Interest paid on the loan amounted to $8,000. 11.Due to related parties Related parties include the members of the Board of Directors, key management personnel, and any companies controlled by these individuals. Key management personnel include those persons having authority and responsibility for planning, directing, and controlling activities of the Company, namely Directors, Chief Executive Officer, Chief Financial Officer, and Senior Vice President, Business Development. November 30, 2025 February 28, 2025 $ $ Notes payable to related parties 196,585 12,000 Due to related parties represent unsecured advances from directors of the Company. The notes are unsecured, bear interest at twelve percent per annum (12%) and due on demand. The notes have been provided by the Directors in support of working capital obligations paid by the Company during the quarter ended November 30, 2025. In the year ended February 28, --- 2025, a related party note of $12,000 note was included in Accounts payable and accrued liabilities and has been reclassified in these financial statements Compensation of key management personnel Transactions with officers are set out as follows: November 30, 2025 November 30, 2024 Salaries 112,500 112,500 Share-based compensation 27,125 172,653 139,675 285,153 Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 12 For the three-month period ended November 30 2025, the Company recorded directors fees of $50,000 payable to the independent directors of the Company (November 30, 2024- $50,000). Interest paid to related parties During the three-month period ended November 30 2025, the Company paid $51,309 (November 30, 2024 - $66,433) to Directors for interest owing on their secured convertible notes through the issue of common shares on October 15, 2025 at the price of $0.16 per share. 12.SECURED CONVERTIBLE NOTES The Company issued secured convertible notes (“Secured Convertible notes”) during the fiscal year ended February 29, 2024, in exchange for gross cash proceeds of $1,935,000, (net proceeds of $1,825,610) bearing interest of 12% per annum, payable quarterly, payable in common shares of the Company. The holders of the Secured Convertible Notes had the right to convert, at their option, the principal amount into shares of the Company at a price of $0.17 per share, with a maturity date of November 30, 2025. At the subscription of the Secured Convertible Notes, each investor was also issued 5 warrant “Warrant Shares” to be utilized for the future purchase of shares of the Company. The total number of Subscription Warrants issued were 15,672,225. The holders of the Warrant Shares convert the principal amount into shares of the Company at a price of $0.14 per share. These Subscription Warrants were issued based on the original amount invested into the Secured Convertible Notes. The expiry of the Subscription Warrants is November 30, 2025. The conversion features, embedded warrants require a fixed number of shares to settle, therefore, they meet the criteria of fixed to fixed under IFRS and hence classified as equity. Accordingly, the fair values of these were deducted from the gross proceeds and were accreted over the term of the note. The Notes matured on November 30, 2025 and $3,084,455 of notes were extended for a one year period to November 30, 2026 under substantially the same terms and conditions as contained in the original notes. The notes are convertible into Common Shares at a conversion price of $0.17 per Common Share, at the option of the holders, at any time prior to maturity, November 30, 2026. There shall be no prepayment fee if the Notes are repaid prior to maturity. A 5% fee for the extension was issued to the renewing noteholders on November 30, 2025 amounting to fee of $154,522. Payment was settled through the issue of 963,886 common shares at the rate of $0.16 per share. The Notes are secured pursuant to a general security agreement issued by the Company in favour of the various noteholders. A discount rate of 22% was used to value the debt component of the convertible notes The following range of assumptions were used to value the equity components: Volatility: 120% to 145% ; Risk-free interest rate: 3.22% to 4.02% Expected --- life (years): 1.94 to 2.36 years Share price: $0.11 to 0.17 ; Exercise price: $0.16 - $0.17 Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 13 A reconciliation of the secured convertible notes payable is as follows: Notes Warrants Conversion Feature Total $ $ $ $ Issuance of convertible notes, net of issuance costs 1,981,964 1,291,732 245,726 3,519,422 Accretion of notes 142,914 - - 142,914 Balance, February 29, 2024 2,124,878 1,291,732 245,726 3,662,336 Accretion of notes 484,892 - - 484,892 Balance, February 28, 2025 2,609,770 1,291,732 245,726 4,147,228 Accretion of notes 524,685 - - 524,685 Balance, November 30, 2025 3,134,455 1,291,732 245,726 4,389,674 13.Lease Liability November 30, February 28, 2025 2025 $ $ Balance, Commencement of lease, March 10, 2025 2,547,873 - Interest 115,063 - Payments (228,004) - Balance, end of the period 2,434,932 - Current 235,587 - Non-current 2,199,345 - 2,434,932 - 14.SHARE CAPITAL Authorized: An unlimited number of common shares without par value. Common Shares: As at November 30, 2025, the Company had common shares outstanding of 134,819,129 (February 28, 2025 – 129,534,817 common shares outstanding) The Company issued shares during the nine-month period ended November 30, 2025 as follows: • On November 30, 2025 the Company issued 392,872 common shares at $0.16 per share as consideration for the $62,860 of interest on the secured convertible notes. Interest paid to related parties amounted to $34,020; • On November 30, 2025 the Company issued 963,886 common shares at $0.16 per share as consideration for the $154,222 of fees payable for the renewal of the secured convertible notes. Fees paid to related parties amounted to $84,818; • On September 30, 2025 the Company issued 592,533 common shares at $0.1 per share as consideration for the $62,860 of interest on the secured convertible notes. Interest paid to related parties amounted to $51,309; Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 14 • On July 7, 2025 the Company issued 476,190 common shares to the independent directors in settlement of directors fees of $100,000 owing for the six-month period ended May 31 2025; • On June 30, 2025 the Company issued 506,878 common shares at $0.185 per share as consideration for the $93,775 of quarterly interest on the secured convertible notes. Interest paid to related parties amounted to $50,751; • On May 31, 2025, the Company issued 1,888,237 common shares, at a price of $0.20, as settlement of liabilities to Creditors in outstanding accounts payable in the aggregate amount of $377,647; • On March 31, 2025 the Company issued 463,716 common shares at $0.20 per share as consideration for the $92,745 quarterly interest on the secured convertible notes. Interest paid to related parties amounted to $50,193. 15.CONTRIBUTED SURPLUS The Company adopted a stock option plan under which it can grant options to directors, officers, employees, and consultants for up to 10% of the issued and outstanding common shares. Under the plan, the exercise price of an option may not be less than the closing market price during the tradin --- g day immediately preceding the date of the grant of the option, less any applicable discount allowed by the Canadian Securities Exchange. On April 1, 2024, the Company issued 9,050,000 stock options to Company employees and third-party advisors, at $0.18 per share, vesting in accordance with the Company’s Stock Option Plan policy, expiring 24 months from the date of issue. During the year ended February 28, 2025, options amounting to 2,500,000 were issued on February 23, 2024, at $0.15 per share, vesting in accordance with the Company’s Stock Option Plan policy, expiring 24 months from the date of issue. Weighted Ave (“$”) Number of Options Contributed surplus Balance, February 28, 2023 0.56 9,104,750 4,853,253 Expired 0.375 (3,754,750) - Extinguishment - - (17,202) Fair valuation of convertible notes - - 245,726 Cancelled February 28, 2024 0.24 (5,350,000) - Options issued, February 23, 2024 0.15 2,500,000 - Stock based compensation - - 162,249 Balance, February 29, 2024 2,500,000 5,244,026 Options issued, April 1, 2024 0.18 9,350,000 - Options issued, October 25, 2024 0.24 850,000 - Stock based compensation - 1,416,298 Transfer to retained earnings (13,009) Balance, February 28, 2025 12,700,000 6,647,315 Cancelled October 25, 2025 (100,000) - Stock based compensation - - 136,927 Balance November 30, 2025 12,600,000 6,784,242 Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 15 The fair value of the options was calculated using the Black-Scholes option pricing model with the following assumptions: Date of issue: Oct 25 2024 April 1 2024 Feb 23 2024 Number of Options issued 850,000 9,350,000 2,500,000 Exercise price $0.24 $0.18 $0.15 Share Price $0.25 $0.195 $0.15 Risk-free interest rate 3.09% 4.27% 4.17% Expected volatility based on historical volatility 139.3% 149.52% 147.09% Expected life of warrants 2 years 2 years 2 years Expected dividend yield 0% 0% 0% Fair value $143,390 $1,336,388 $267,700 Number issued to management & directors 500,000 4,350,000 2,500,000 A summary of the Company’s outstanding stock options as at November 30, 2025 is presented below: Exercise price Number of stock options outstanding Expiry date Number of stock options exercisable $0.15 2,500,000 February 23, 2026 2,500,000 $0.18 9,350,000 April 1, 2026 9,350,000 $0.24 750,000 October 25, 2026 750,000 Total 12,600,000 12,600,000 Next page is 16 Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 16 16.WARRANT RESERVE Secured convertible noteholders holding an aggregate of $3,084,455 of Notes agreed to extend the maturity date of their Notes and their accompanying common share purchase warrants of the Company (the “Warrants”) to November 30, 2026 with an exercise price of $0.16. A summary of the continuity of warrant activity is as follows: Weighted average price Number of warrants Warrant reserve $ $ Balance, February 28, 2023 16,813,838 2,299,675 Expired and extinguished 0.40 (16,284,681) (1,720) Issued – secured convertible note 0.14 15,672,225 1,291,732 Issued, September 2023 0.14 1,250,000 48,486 Issued – private placement 0.20 7,647,056 530,134 Issued – issuance cost 0.20 --- 458,823 55,646 Balance, February 29, 2024 25,557,261 4,223,953 Expired warrants, August 8, 2024 0.40 (23,000) - Expired warrants, September 22, 2024 0.14 (1,250,000) - Issued – private placement with brokers warrants 0.20 4,115,289 297,396 Transfer to retained earnings - (49,787) Expired warrants 0.40 (506,157) - Balance, February 28, 2025 27,893,393 4,471,562 Expired warrants 0.14 (15,672,275) - Expired warrants, reissued 0.16 15,422,275 - Balance, November 30, 2025 - 27,643,393 4,471,562 17.SEGMENTED INFORMATION The Company has one operating segment comprising production, distribution, research, and the provision of technical services for the delivery of oral thin film strips containing active ingredients. The Company has three primary sources of revenue: 1) Sales of health and wellness products consisting of nutraceuticals; 2) Sale of white label manufacturing, to medical cannabis companies under cannabis licensing, consists of sales of oral thin film strips containing active ingredients; 3) Service revenue consists of research and development consulting services provided for the application of active ingredients with the Company’s oral thin film polymer formulation and process. Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 17 The following tables set out the revenue and costs for each revenue source: Segmented Information Three-month period ended November 30, 2025 Three-month period ended November 30, 2024 Revenue Cost of Sales Gross Profit Revenue Cost of Sales Gross Profit $ $ $ $ $ $ Health and wellness 43,468 42,949 519 Health and wellness 4,101 2,774 1,327 White Label 110,867 47,953 62,914 White Label 247,081 102,931 144,150 Product Testing - 4,437 (4,437) Product Testing 1,000 850 150 Manufactured Product 110,867 52,390 58,477 Manufactured Product 248,081 103,781 144,300 Research program services 0 Research program services 1,107 - 1,107 Contract development services 502,800 252,000 250,800 Contract development services 248,400 124,800 123,600 Services revenue 502,800 252,000 250,800 Services revenue 249,507 124,800 124,707 Total 657,135 347,339 309,796 Total 501,689 231,355 270,334 Nine-month period ended November 30, 2025 Nine-month period ended November 30, 2024 Revenue Cost of Sales Gross Profit Revenue Cost of Sales Gross Profit $ $ $ $ $ $ Health and wellness 50,556 54,813 (4,257) Health and wellness 22,774 22,055 719 White Label 446,382 127,066 319,316 White Label 753,655 218,071 535,584 Product Testing 1,020 11,495 (10,475) Product Testing 13,930 11,838 2,092 Manufactured Product 447,402 138,561 308,841 Manufactured Product 767,585 229,909 537,676 Research program services 107,640 86,846 20,794 Research program services 8,835 - 8,835 Contract development services 1,507,200 754,620 752,580 Contract development services 617,405 309,600 307,805 Services revenue 1,614,840 841,466 773,374 Services revenue 626,240 309,600 316,640 Total 2,112,798 1,034,840 1,077,959 Total 1,416,599 561,564 855,035 Customer Concentration: Two customers comprise of 86% of total revenue during the three-month period ended November 30, 2025 (three customers had 90% of total revenue during the three-month period ended November 30, 2024). One customer comprised 45% of White Label revenue during the three-month period ended November 30, 2025. (Three cu --- stomers had 95% of White Label Revenue for the second quarter of fiscal year 2025) One customer comprised 100% (2024 – 100%) of services revenue and 79% of total revenue. Geographic Information: All of the Company’s operations are in Canada. Rapid Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 18 18. DETERMINATION OF FAIR VALUES A number of the Company's accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following methods. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability. The fair values of cash, amounts receivable and accounts payable and accrued liabilities, due to a related party, convertible notes at November 30, 2025 approximated their respective carrying values due to their short term to maturity. Classification of fair value of financial instruments The Company classified the fair value of its financial instruments measured at fair value according to the following hierarchy based on the number of observable inputs used to value the instrument: Level 1: quoted prices in active markets for identical assets and liabilities; Level 2: inputs, other than the quoted prices included in Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3: inputs for the asset or liability that are not based on observable market data. 19. FINANCIAL RISK MANAGEMENT The Company's activities expose it to a variety of financial risks that arise as a result of its activities, including credit risk, liquidity risk and market risk. This note presents information about the Company's exposure to each of the above risks, the Company's objectives, policies and processes for measuring and managing risk, and the Company's management of capital. Further quantitative disclosures are included throughout these consolidated financial statements. The Board of Directors oversees management's establishment and execution of the Company's risk management framework. Management has implemented and monitors compliance with risk management policies. The Company's risk management policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to market conditions and the Company's activities. Credit risk Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations. The Company's customers are subject to an internal credit review, together with ongoing monitoring of the amount and age of balances in order to minimize the risk of non-payment. The gross carrying amount of amounts receivable reflects the maximum credit exposure and management's assessment of the credit risk. The Company is subject to a concentration risk in its trade receivables as two customer balances amount to 84% (February 28, 2025 – 95%). The following table provides information regarding the aged trade receivables as at: Current 31-60 days 61-90 days 91 days+ November 30, 2025 94% 6% 0% 0% February 28, 2025 35% 39% 26% 0% Rapid --- Dose Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 19 Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in meeting its financial liabilities that are settled in cash or other financial assets. The Company's approach to managing liquidity risk is to ensure, as far as possible, that it has sufficient liquidity to meet its liabilities as they come due. The continued operation of the Company is dependent upon the Company's ability to secure external financing (Note 1) to meet its existing obligations and finance operations. Accounts payable and accrued liabilities are subject to normal trade terms. Market risk Market risk is the risk that changes in market prices, such as equity prices, foreign exchange rates and interest rates will affect the Company's income or the value of its financial instruments. Currency risk Currency risk arises from financial instruments and sales and purchases that are denominated in a currency other than the Canadian dollar, the Company's functional currency. The Company operates in Canada and the United States, and the Company incurs the majority of its operating expenses in Canadian dollars. In the future, the proportion of international sales is expected to increase. Any fluctuation in the exchange rates of foreign currencies may negatively impact the Company's business, financial condition and results of operations. The Company manages risk to foreign currency exposure by monitoring financial assets and liabilities denominated in US dollars and exchange rates on an ongoing basis. The Company has not engaged in foreign currency hedging. Interest rate risk The Company's exposure to interest rate risk is limited as the financial liabilities bear a fixed interest rate; financial assets are short-term in nature and are not subject to interest rate risk. 20. CAPITAL RISK MANAGEMENT The Company considers its capital to be shareholders’ deficit which comprises share capital, warrant reserve, contributed surplus, accumulated other comprehensive income and accumulated deficit. The Company's objective when managing capital is to safeguard the Company's ability to continue as a going concern so that it can provide returns for the benefit of its shareholders and other stakeholders. The Company manages its capital structure and makes adjustments based on the funds available to the Company in light of changes in economic conditions. The Board of Directors has not established quantitative return on capital criteria for management but rather relies on the expertise of the Company's management to sustain the future development of the Company. In order to facilitate the management of its capital requirements, the Company prepares annual expenditure budgets that consider various factors, including successful capital deployment and general industry conditions. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. As the Company is an early-stage company and has just started to generate revenue, its principal source of capital is derived from the issuance of common shares or advances from related parties. In order to achieve its objectives, the Company intends to raise additional funds as required. Rapid Dos --- e Therapeutics Corp. Notes to Condensed Consolidated Interim Financial Statements (Unaudited) For the three-month and nine-month periods ended November 30, 2025 and 2024 (Expressed in Canadian dollars, unless otherwise indicated) Page | 20 The Company is not subject to externally imposed capital requirements and there were no changes to the Company's approach to capital management during the year. 21. CONTINGENCIES The Company is a party to certain legal proceedings from time-to-time incidental to the conduct of its business. These proceedings could result in fines, penalties, compensatory or treble damages, or non- monetary relief. The nature of legal proceedings is such that the Company cannot assure the outcome of any particular matter, and an unfavorable ruling or development could have a materially adverse effect on the consolidated financial position, results of operations and cash flows in the period in which a ruling or settlement occurs. However, based on information available to the Company’s management to date, the Company’s management does not expect that the outcome of any matter pending against the Company is likely to have a materially adverse effect on the Company’s consolidated financial position, results of operations, cash flows or liquidity. 22. SUBSEQUENT EVENT On December 2, 2025 a secured promissory note in the amount of $50,000 was repaid by the Company to the noteholder. On December 31, 2025 the Company issued 362,708 common shares at $0.13 per share as consideration for the $47,154 of monthly interest on the secured convertible notes. Interest paid to related parties amounted to $25,933.