SEDAR Interim Financial Statements

ICWHY CAPITAL VENTURES INC. CONDENSED INTERIM FINANCIAL STATEMENTS For the three and nine month periods ended December 31, 2025 & December 31, 2024 (Expressed in Canadian Dollars) 2 ICWHY CAPITAL VENTURES INC. NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102- Continuous Disclosure Obligations, Part 4, subsection 4.3 (3) (a), if an auditor has not performed a review of the condensed interim financial statements, they must be accompanied by a notice indicating that the condensed interim financial statements have not been reviewed by an auditor. The accompanying unaudited condensed interim financial statements of the Company have been prepared by management and approved by the Audit Committee and the Board of Directors of the Company (the “Board”). The Company’s independent auditors have not performed a review of these condensed interim financial statements in accordance with the standards established by the Canadian Institute of Chartered Accountants for a review of condensed interim financial statements by an entity’s auditors. February 5, 2026 3 ICWHY CAPITAL VENTURES INC. CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (EXPRESSED IN CANADIAN DOLLARS) December 31, 2025 $ (unaudited) March 31, 2025 $ (audited) Assets Current assets Cash and cash equivalents 207,044 221,887 Accrued interest receivable 2,351 1,916 Total assets 209,395 223,803 Liabilities Current liabilities Accounts payable and accrued liabilities 441 – Total liabilities 441 – Shareholders’ equity Share capital 384,863 384,863 Share-based payment reserve 59,967 59,967 Deficit (235,876) (221,027) Total shareholders’ equity 208,954 223,803 Total liabilities and shareholders’ equity 209,395 223,803 Nature of business and continuance of operations (Note 1) Approved and authorized for issuance by the Board of Directors on February 5, 2026: Signed “Josh Gerstein” Signed “Randy Clifford” Josh Gerstein Randy Clifford Director Director (The accompanying notes are an integral part of these condensed interim financial statements) 4 ICWHY CAPITAL VENTURES INC. CONDENSED INTERIM STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS (EXPRESSED IN CANADIAN DOLLARS) (unaudited) Three months ended December 31, 2025 $ Three months ended December 31, 2024 $ Nine months ended December 31, 2025 $ Nine months ended December 31, 2024 $ Expenses General and administrative 80 142 863 762 Professional fees 945 – 11,624 10,564 Transfer agent & filing fees 1,654 1,697 6,584 6,564 Total expenses 2,679 1,839 19,071 17,890 Loss before other income (expense) (2,679) (1,839) (19,071) (17,890) Other income (expense) Interest received 1,303 2,286 4,222 7,315 Total other income (expense) 1,303 2,286 4,222 7,315 Net loss and comprehensive loss (1,376) 447 (14,849) (10,575) Loss per share, basic and diluted (0.00) (0.00) (0.00) (0.00) Weighted average number of shares outstanding 6,300,000 6,300,000 6,300,000 6,300,000 (The accompanying notes are an integral part of these condensed interim financial statements) 5 ICWHY CAPITAL VENTURES INC. CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (EXPRESSED IN CANADIAN DOLLARS) (unaudited) Share Capital Number of Shares Amount $ Share-based payment reserve $ Deficit $ Total $ Balance, March 31, 2025 6,300,000 384,863 59,967 (221,027) 223,803 Net loss for the period – – – (14,849) (14,849) Balance, December 31, 2025 6,300,000 384,863 59,967 (235,876) 208,954 Share Capital Number of Shares Amount $ Share-based payment res --- erve $ Deficit $ Total $ Balance, March 31, 2024 6,300,000 384,863 59,967 (204,399) 240,431 Net loss for the period – – – (10,575) (10,575) Balance, December 31, 2024 6,300,000 384,863 59,967 (214,974) 229,856 (The accompanying notes are an integral part of these condensed interim financial statements) 6 ICWHY CAPITAL VENTURES INC. CONDENSED INTERIM STATEMENT OF CASH FLOWS (EXPRESSED IN CANADIAN DOLLARS) (unaudited) Nine months ended December 31, 2025 $ Nine months ended December 31, 2024 $ Operating activities Net loss for the period (14,849) (10,575) Items not involving cash: Changes in non-cash operating working capital: Accounts payable, accrued interest and accrued liabilities 6 560 Prepaid expenses – – Net cash used in operating activities (14,843) (10,015) Change in cash and cash equivalents for the period (14,843) (10,015) Cash and cash equivalents, beginning of period 221,887 240,431 Cash and cash equivalents, end of period 207,044 230,416 (The accompanying notes are an integral part of these condensed interim financial statements) 7 ICWHY CAPITAL VENTURES INC. NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS NINE MONTH PERIOD ENDED DECEMBER 31, 2025 EXPRESSED IN CANADIAN DOLLARS 1. NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS ICWHY Capital Ventures Inc. (the “Company”) was incorporated on March 23, 2021 pursuant to the provisions of the Business Corporations Act (British Columbia). The Company was formed to complete an Initial Public Offering (“IPO”) and become classified as a Capital Pool Company (“CPC”) as defined by TSX Venture Exchange (“TSXV”) Policy 2.4. The Company will not carry on any business other than the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction (“QT”). On June 17, 2022, the Company’s common shares were be listed on the TSXV with the symbol ICWY.P. The head office and the registered office of the Company is located at 430 - 605 Robson St,, Vancouver, BC, V6B 5J3. As at December 31, 2025, the Company has no business operations. As a CPC, the Company’s principal business objective will be to identify and evaluate assets, properties or businesses with a view to a potential acquisition or participation by completing a QT subject, in certain cases, to shareholders’ approval and acceptance by the TSXV. There is no assurance that the Company will identify and successfully acquire businesses or assets that will produce a profit. Moreover, if a potential business or asset is identified which warrants acquisition or participation, additional funds may be required to complete the acquisition or participation and the Company may not be able to obtain such financing on terms which are satisfactory to the Company. Going Concern These condensed interim financial statements have been prepared on the going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. During the nine month period ended December 31, 2025, the Company had no revenues and incurred a net loss $14,849. As at December 31, 2025, the Company has no current business and had an accumulated deficit of $235,876. The Company’s continuing operations are dependent upon its ability to complete its IPO and identify, evaluate, and negotiate a QT. If the QT is identified or completed, additional funding may be required and there is no assurance that the Company will be able to obtain such financing, if any, on terms --- that are acceptable to the Company. These condensed interim financial statements do not include any adjustments to the recorded assets or liabilities that might be necessary should the Company be unable to continue as a going concern. 2. MATERIAL ACCOUNTING POLICIES (a) Statement of Compliance and Basis of Presentation These unaudited condensed interim financial statements, including comparatives have been prepared using accounting policies consistent with International Financial Reporting Standards (“IFRS”) and in accordance with International Accounting Standard (“IAS”) 34 “Interim Financial Reporting”. These condensed interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended March 31, 2025. The accompanying condensed interim financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board. The condensed interim financial statements have been prepared on a historical cost basis and are presented in Canadian dollars, which is also the Company’s functional currency. (b) Use of Estimates and Judgments The preparation of these condensed interim financial statements in conformity with IFRS requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed interim financial statements and reported amounts of expenses during the period. It also requires management to exercise its judgment in the processing of applying the Company’s accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The impacts of such estimates and judgments are pervasive throughout the condensed interim financial statements and may require accounting adjustments based on future occurrences. Revisions to accounting estimates and judgments are recognized in the period in which the estimate is revised and future periods if the revision affects both current and future periods. Actual results could differ from these estimates. Significant areas requiring the use of estimates include the recoverability of unrecognized deferred income tax assets. 8 ICWHY CAPITAL VENTURES INC. NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS NINE MONTH PERIOD ENDED DECEMBER 31, 2025 EXPRESSED IN CANADIAN DOLLARS 2. MATERIAL ACCOUNTING POLICIES (continued) (b) Use of Estimates and Judgments (continued) The preparation of these condensed interim financial statements in conformity with IFRS requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed interim financial statements and reported amounts of expenses during the period. It also requires management to exercise its judgment in the processing of applying the Company’s accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The impacts of such estimates and judgments are pervasive throughout the condensed interim financial statements and may require accounting adjustments based on future occurrences. Revisions to accounting estimates and judgments are recognized in the period in which the estimate is revise --- d and future periods if the revision affects both current and future periods. Actual results could differ from these estimates. Significant areas requiring the use of estimates include the recoverability of unrecognized deferred income tax assets. The Company’s assessment of whether the going concern assumption is appropriate requires management to take into account all available information about the future, which is at least, but not limited to, 12 months from the end of the reporting period. The Company is aware that material uncertainties related to events or conditions may cast significant doubt upon the Company’s ability to continue as a going concern. (c) Accounting Standards Issued But Not Yet Effective A number of new standards, and amendments to standards and interpretations, are not yet effective for the period ended December 31, 2025, and have not been applied in preparing these condensed interim financial statements. These new standards, and amendments to standards and interpretations are either not applicable or are not expected to have a significant impact on the Company’s financial statements. 3. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT The Company is exposed in varying degrees to a variety of financial instruments and related risks. Those risks and management’s approach to mitigating those risks are as follows: (a) Fair Values Fair value measurements are classified using a fair value hierarchy that reflects the significance of inputs used in making the measurements. The fair value hierarchy has the following levels: • Level 1 - valuation based on quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2 - valuation techniques based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and • Level 3 - valuation techniques using inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value of financial instruments, which includes cash and accounts payable and accrued liabilities, approximates its fair value due to the relatively short-term maturity of these instruments. (b) Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consists of cash. The Company will limit its exposure to credit loss by placing its cash with a high credit quality financial institution or within a legal trust. The carrying amount of financial assets represents the maximum credit exposure. (c) Foreign Exchange Rate and Interest Rate Risk The Company is not exposed to any significant foreign exchange rate or interest rate risk. 9 ICWHY CAPITAL VENTURES INC. NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS NINE MONTH PERIOD ENDED DECEMBER 31, 2025 EXPRESSED IN CANADIAN DOLLARS 3. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (continued) (d) Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company plans on settling its financial obligations out of cash. The ability to do this relies on the Company raising debt and equity financing in a timely manner and by maintaining sufficient cash in excess of anticipated needs. There is no assurance that financing will be available or, if available, that such financing will be on terms acceptable to the Company. 4. SHARE CAPITAL Authorized: unlimited common shares without --- par value unlimited preferred shares without par value 5. STOCK OPTIONS The Company has established a stock option plan (the “Plan”) for its directors, executive officers, employees and consultants under which the Company may grant up to 630,000 stock options until the completion of the qualifying transaction which increases to 10% of the total issued and outstanding common shares of the Company after the completion of the qualifying transaction. The Company also issued 250,000 Compensation Options to the underwriting Agent. Number of options Weighted average exercise price $ Outstanding, March 31, 2025 630,000 0.10 Granted (expired) – – Balance at December 31, 2025 630,000 0.10 Number of options Weighted average exercise price $ Outstanding, December 31, 2025 630,000 0.10 Additional information regarding stock options outstanding as at December 31, 2025, is as follows: Range of exercise prices $ Stock options outstanding Weighted average remaining contracted life (years) 0.10 630,000 6.55 6. CAPITAL MANAGEMENT The Company manages its capital to maintain its ability to continue as a going concern and to provide returns to shareholders and benefits to other stakeholders. The capital structure of the Company consists of cash and equity comprised of issued share capital and share-based payment reserve. The Company manages its capital structure and makes adjustments to it in light of economic conditions. The Company and its Board of Directors will balance its overall capital structure through new share issues or by undertaking other activities as deemed appropriate under the specific circumstances. The Company is subject to externally imposed capital requirements under Policy 2.4 of the TSXV for CPCs and the Company’s overall strategy with respect to capital risk management remains unchanged from the year ended March 31, 2025.