SEDAR Interim Financial Statements

TrustBIX Inc. Interim Condensed Consolidated Financial Statements December 31, 2025 (Expressed in Canadian Dollars) Notice of No Auditor Review of Interim Condensed Consolidated Financial Statements Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor. The accompanying unaudited interim condensed consolidated financial statements of TrustBIX Inc. (the “Company”) have been prepared by and are the responsibility of the Company’s management. The Company’s independent auditor has not performed a review of these financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity’s auditor. TrustBIX Inc. Interim Condensed Consolidated Statement of Financial Position (Unaudited) (Expressed in Canadian Dollars) As at December 31, 2025 and September 30, 2025 4 The accompanying notes are an integral part of these interim condensed consolidated financial statements. December 31, 2025 $ September 30, 2025 $ Assets Current assets Cash 465 116,193 Accounts receivable (note 5) 12,935 86,172 Share subscriptions receivable 100,000 160,000 Inventory 8,115 13,173 Deposits and prepaid expenses 2,129 4,121 123,644 379,659 Property and equipment 15,088 13,700 Intangible assets (note 6) 237,870 8,092 Right-of-use assets (note 7) 8,200 9,841 Investment (note 8) 180,244 180,244 565,046 591,536 Liabilities Current liabilities Bank indebtedness 17,496 - Accounts payable and accrued liabilities (note 9) 1,518,423 1,481,226 Unearned revenue and customer deposits (note 10) 732,175 1,087,553 Debenture (note 11) 35,000 35,000 Loans payable – current portion (note 12) 229,383 267,125 Lease liability – current portion (note 7) 9,012 8,558 2,541,489 2,879,462 Loans payable (note 12) 466,943 466,943 Lease liability (note 7) 2,533 4,955 3,010,965 3,351,360 Shareholders’ Deficiency Share capital issued (note 13(a)) 14,399,780 14,249,780 Warrants (note 13(b)) 286,220 206,442 Contributed surplus 3,929,186 3,907,400 Deficit (21,061,105) (21,123,446) (2,445,919) (2,759,824) 565,046 591,536 Nature of operations and going concern (note 1) Approved by the Board of Directors (Signed) “Hubert Lau” Director (Signed) “Lap Shing (Andrew) Kao” Director TrustBIX Inc. Interim Condensed Consolidated Statements of Changes in Shareholders’ Deficiency (Unaudited) (Expressed in Canadian Dolars) For the three-month periods ended December 31, 2025 and 2024 5 The accompanying notes are an integral part of these interim condensed consolidated financial statements. Share capital issued $ Warrants $ Contributed surplus $ Deficit $ Total $ Balance – September 30, 2024 13,969,422 7,641 3,796,221 (20,062,889) (2,289,605) Net loss and comprehensive loss for the period - - - (186,233) (186,233) Common shares issued in private placement (note 13(a)) 86,800 - - - 86,800 Expiration of warrants (note 13(b)) - (7,641) 7,641 - - Stock-based compensation (note 13(c)) - - 4,205 - 4,205 Balance – December 31, 2024 14,056,222 - 3,808,067 (20,249,122) (2,384,833) Balance – September 30, 2025 14,249,780 206,442 3,907,400 (21,123,446) (2,759,824) Net income and comprehensive income for the period - - - 62,341 62,341 Common shares issued for asset acquisition (note 4 and 13(a)) 150,000 79,778 - - 229,778 Stock-based --- compensation (note 13(c)) - - 21,786 - 21,786 Balance – December 31, 2025 14,399,780 286,220 3,929,186 (21,061,105) (2,445,919) TrustBIX Inc. Interim Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) (Expressed in Canadian Dollars) For the three-month periods ended December 31, 2025 and 2024 6 The accompanying notes are an integral part of these interim condensed consolidated financial statements. December 31, 2025 $ December 31, 2024 $ Continuing operations: Revenue Professional and development services - 242 Maintenance - 2,520 - 2,762 Expenses Consulting fees (note 16) 51,026 21,201 Wages and benefits (note 16) 19,268 30,205 Hardware for resale and supplies - 5,230 Office 9,009 23,924 Professional fees 13,634 11,290 Amortization and depreciation 177 24,827 Advertising and promotion 6,155 11,081 Travel, trade shows and conferences 2,142 4,485 Foreign exchange gain - (49) 101,411 132,194 Loss before other (expenses) income and income taxes (101,411) (129,432) Other (expenses) income Gain on refinancing of loan payable (note 12) 19,013 - Interest expense (2,145) (2,461) Accretion expense (19,671) (31,586) (2,803) (34,047) Loss before income taxes (104,214) (163,479) Income taxes - - Net loss and comprehensive loss from continuing operations (104,214) (163,479) Net income (loss) and comprehensive income (loss) from discontinued operation (note 4) 166,555 (22,754) Net income (loss) and comprehensive income (loss) for the period 62,341 (186,233) Basic and diluted loss per share from continuing operations (note 14) (0.00) (0.00) Basic and diluted income (loss) per share from discontinued operations (note 14) 0.00 (0.00) 0.00 (0.00) TrustBIX Inc. Interim Condensed Consolidated Statements of Cash Flows (Unaudited) (Expressed in Canadian Dollars) For the three-month periods ended December 31, 2025 and 2024 7 The accompanying notes are an integral part of these interim condensed consolidated financial statements. December 31, 2025 $ December 31, 2024 $ Cash provided by (used in) Operating activities Net income (loss) for the period 62,341 (186,233) Adjustments to reconcile net loss to cash flows from operating activities: Accretion expense 19,671 31,586 Stock-based compensation expense 21,786 4,206 Amortization and depreciation 2,672 27,719 Interest expense 3,132 896 Bad debts 5,950 - Gain on refinancing of loan payable (note 12) (19,013) - Cash used in operating activities before changes in items of working capital 96,539 (121,826) Net change in items of non-cash working capital (note 15) (243,845) 61,220 (147,306) (60,606) Investing activity Purchase of property and equipment (2,418) - Financing activities Proceeds from issuance of common shares and warrants in private placements (note 13(a) and (b)) 60,000 85,800 Proceeds from loans payable (note 12) 6,600 - Repayment of loans payable (note 12) (45,000) (15,000) Lease payments (note 7) (5,100) (2,484) 16,500 68,316 Increase (decrease) in cash during the period (133,224) 7,710 Cash – Beginning of period 116,193 72,242 (Bank indebtedness) Cash – End of period (17,031) 79,952 (Bank indebtedness) cash is composed of: Cash 465 79,952 Bank indebtedness (17,496) - (17,031) 79,952 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 8 1 Nature of operations and going concern TrustBIX Inc.’s (the “Company” or “TrustBIX”) business operations consist of information solutio --- ns for the agri- food industry, including: • ViewTrak Technologies Inc., a wholly owned subsidiary of TrustBIX, which has developed solutions with an emphasis on the livestock sector. On October 10, 2025, the Company entered into an agreement to assign and transfer its AMP support contracts and the ViewTrak segment has been presented and accounted for as a discontinued operation (note 4). • Insight Global Inc., a wholly owned subsidiary of TrustBIX, which has developed industrial Internet-of- Things (“IoT”) products and traceability solutions. • Alberta Food Security Inc., a wholly owned subsidiary of TrustBIX, which has developed technology solutions for Controlled Environment Agriculture vertical indoor farming. The Company and its wholly owned subsidiaries, ViewTrak Technologies Inc. (“ViewTrak”), Insight Global Technology Inc. (“Insight”), BIX Operations Inc. (“BIX Operations”), and Alberta Food Security Inc. (“AFS”) are incorporated and domiciled in Canada. The Company and its subsidiaries’ principal office is located at #138 - 9650 20th Avenue NW, Edmonton, AB T6N 1G1. Going concern These consolidated financial statements have been prepared on a going concern basis in accordance with IFRS Accounting Standards (“IFRS”), which contemplates the realization of assets and satisfaction of liabilities in the normal course of business as they come due. As at December 31, 2025, the Company had a net working capital deficit of $2,417,846 (September 30, 2025 - $2,499,803). For the three months ended December 31, 2025, the Company reported an overall net income of $62,341 (2024 – an overall net loss of $186,233) and net cash outflows from operating activities of $147,306 (2024 – $60,606). As at December 31, 2025, the Company had an accumulated deficit of $21,061,105 (September 30, 2025 – $21,123,446). In addition, the Company has lease commitments in the amount of $12,984 (note 7) and has entered into a contribution agreement with Prairies Economic Development Canada (formerly Western Economic Diversification Canada) (“PrairiesCan”) for a repayable financial contribution under the Regional Relief and Recovery Fund with a remaining principal balance of $823,000 (note 12). Operations during the three months ended December 31, 2025, have been financed primarily from non- brokered private placements. Management is actively pursuing new business opportunities with its AFS subsidiary. Subsequent to December 31, 2025, the Company entered into three (3) non-binding Letters of Intent (note 19). The Company may also continue to raise financing, including equity and debt, as needed, for working capital and to expand the business. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 9 1 Nature of operations and going concern (continued) Going concern (continued) There can be no assurance that management’s efforts will be successful. This material uncertainty casts significant doubt upon the Company’s ability to continue as a going concern and, accordingly, the appropriateness of the use of accounting principles applicable to going concern. These consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported revenues and expenses that would be necessary if the Company were unable to realize its assets and settle its liabilities as a going concern in the normal course of operations. Such adjustments could --- be material. 2 Basis of presentation Statement of compliance These condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard 34 – Interim Financial Reporting (“IAS 34”) as issued by the International Accounting Standards Board (the “IASB”). Accordingly, certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with IFRS Accounting Standards have been omitted or condensed and accordingly, these condensed interim consolidated financial statements should be read in conjunction with the annual consolidated financial statements of the Company for the years ended September 30, 2025 and 2024. These interim condensed consolidated financial statements were authorized for issue by the Board of Directors on February 26, 2026. Basis of measurement These interim condensed consolidated financial statements have been prepared in Canadian dollars, which is the Company’s presentation and functional currency, and are prepared on a historical cost basis, except for certain financial instruments, which are measured at fair value. Use of management critical judgment, estimates and assumptions The preparation of the interim condensed consolidated financial statements requires management to make critical judgments, estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim condensed consolidated financial statements and the reported amounts of revenues and expenses recorded during the period. In making estimates and judgments, management relies on external information and observable conditions where possible, supplemented by internal analysis as required. Actual results may differ from those estimates. Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 10 2 Basis of presentation (continued) Use of management critical judgment, estimates and assumptions (continued) The critical accounting estimates and judgments made by management in applying the Company’s accounting policies were the same as those described in note 2 to the Company’s consolidated financial statements for the years ended September 30, 2025 and 2024. 3 Summary of material accounting policies The material accounting policies applied by the Company in these interim condensed consolidated financial statements are consistent with those applied by the Company in its annual consolidated financial statements for the years ended September 30, 2025 and 2024, with the addition of: Discontinued operation A discontinued operation is a component of the Company’s business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which: • represents a separate major line of business of geographic area of operations. • is part of a single co-ordinated plan to dispose of a separate major line of a business or geographic area of operations; or • is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs at the earlier of disposal or when the operation meets the criteria to be classified as held- --- for-sale. When an operation is classified as a discontinued operation, the comparative statement of income (loss) and comprehensive income (loss) is re-presented as if the operation had been discontinued from the start of the comparative period. New accounting pronouncements not yet adopted The following standard is effective for year-ends starting on or after January 1, 2027 and has not been adopted by the Company: TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 11 3 Summary of material accounting policies (continued) IFRS 18 Presentation and disclosure in the financial statements (replacement of IAS 1) This new standard maintains many of the current requirements for the presentation of financial statements and adds new requirements concerning the statement of profit or loss, management-defined performance measures, and the principles of aggregation and disaggregation of information. The new requirements concerning the statement of income and comprehensive income include requiring entities to classify income and expenses included in the statement of income and comprehensive income in one of five categories (operating, investing, financing, income taxes, discontinued operations), and prescribing that subtotals for operating profit or loss and profit or loss before financing and income taxes are presented. Management is assessing the impact of the standard. 4 Discontinued operation On October 10, 2025, the Company entered into an agreement (the “Agreement”) to assign and transfer its AMP support contracts (the "Support Contracts") to Cristel Baber DBA I.T. Group ("IT Group"). Under the Agreement, IT Group will assume all customer support and maintenance responsibilities. Customers with active annual Support Contracts will continue to receive services from IT Group at no additional cost for the remainder of their current term. IT Group will also make support available to customers without active contracts under its own service agreements. Recurring and one-time revenue from AMP, including the Support Contracts, represented approximately $1.1 million in each of the fiscal years ended September 30, 2025 and 2024. The assignment and transfer of the Support Contracts remain subject to regulatory approvals, including TSX Venture Exchange approval, and customary closing conditions and third-party consents, where applicable. The ViewTrak segment was not previously classified as a discontinued operation. The comparative interim condensed consolidated statement of income (loss) and comprehensive income (loss) has been re-presented to show the discontinued operation separately from continuing operations. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 12 4 Discontinued operation (continued) Results of discontinued operation Three months ended December 31, 2025 $ December 31, 2024 $ Revenue 366,524 359,059 Operating expenses (200,196) (362,907) Income (loss) before other income (expenses) 166,328 (3,848) Other income (expenses) 227 (18,906) Income (loss) before income taxes 166,555 (22,754) Income taxes - - Net income (loss) and comprehensive income (loss) from discontinued operation, net of tax 166,555 (22,754) Cash flows from (used in) discontinued operation 2025 $ 2024 $ Net cash used in operating activities (126,734) (16,804) Net cash used in financing activity (5,10 --- 0) (2,484) Net cash flows for the period (131,834) (19,288) 5 Accounts receivable Included in accounts receivable are the following: December 31, 2025 $ September 30, 2025 $ Trade accounts receivable 98,832 165,945 Allowance for trade receivables (87,322) (81,198) Other receivables 1,425 1,425 12,935 86,172 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 13 6 Intangible assets Software $ Trademarks $ License $ Total $ Cost Balance, September 30, 2025 2,035,509 8,092 261,099 2,304,700 Addition 229,778 - - 229,778 Balance, December 31, 2025 2,265,287 8,092 261,099 2,534,478 Accumulated amortization and impairment Balance, September 30 and December 31, 2025 (2,035,509) - (261,099) (2,296,608) Net book value Balance, September 30, 2025 - 8,092 - 8,092 Balance, December 31, 2025 229,778 8,092 - 237,870 Trademarks are indefinite-lived intangible assets and are not amortized. On November 25, 2025, the Company issued 6,000,000 units (“Units”) to Mindsgate Ltd. (note 13(a) and (b)) for the acquisition of an Indoor Farm Management System ("IFMS") software asset. The Company follows the guidance of IAS 36 to determine if impairment indicators exist for its intangible assets. When impairment indicators exist, the Company is required to make a formal estimate of the recoverable amount of its intangible assets. In making this judgment, management evaluates external and internal factors, such as significant adverse changes in the technological, market, economic or legal environment in which the Company operates. No indicators of impairment were identified during the three-month periods ended December 31, 2025 and 2024. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 14 7 Lease liability and right-of-use asset Right-of-use asset Below is a summary of the activity related to the Company’s right-of-use (“ROU”) asset for the three-month period ended December 31, 2025: Lease liability The following is a summary of the activity related to the Company’s lease liability for the three-months period ended December 31, 2025: The Company’s anticipated cash outflows related to the lease obligation for the twelve (12) months ending December 31st are as follows: $ 2026 10,375 2027 2,609 12,984 $ ROU asset as at September 30, 2025 9,841 Depreciation (1,641) ROU asset as at December 31, 2025 8,200 $ ROU lease liabilities as at September 30, 2025 13,513 Lease payments (5,100) Accretion of lease liabilities 3,132 ROU lease liabilities as at December 31, 2025 11,545 Of which are: Current lease liabilities 9,012 Non-current lease liabilities 2,533 11,545 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 15 8 Investment On November 7, 2019, TrustBIX invested US$250,000 in a Calgary, Alberta-based company, Provision Analytics Inc., through a convertible debenture offering maturing in 24 months. It accrued simple interest on an annual basis at the rate of 2.5% per annum. The investment plus accrued interest was converted into non-marketable preferred shares on November 23, 2021 at the transaction price of US$262,997 ($333,427). During the year ended September 30, 2022, the Company sold half of the investment in Provision Analytics for gross proceeds of $180,907. No significant changes were recorded to initial --- fair value measurement as at December 31, 2025. The Company does not have control or significant influence over Provision Analytics and has no participation in its policy-making processes. Each preferred share is convertible, at the option of the Company into common shares. 9 Accounts payable and accrued liabilities Included in accounts payable and accrued liabilities are the following: December 31, 2025 $ September 30, 2025 $ Trade accounts payable 1,087,206 1,063,185 Accrued liabilities 431,217 418,041 1,518,423 1,481,226 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 16 10 Unearned revenue and customer deposits Unearned revenue and customer deposits consists of the following: December 31, 2025 $ September 30, 2025 $ Customer deposits 732,175 775,701 Unearned revenue - 311,852 732,175 1,087,553 As at September 30, 2025, customer deposits include deposits from AFS customers towards their orders of indoor farming technology and deposits from ViewTrak customers towards the implementation of the Auction Master Pro software program. As at December 31, 2025, customer deposits include deposits from AFS customers towards their orders of indoor farming technology. 11 Debenture On January 27, 2023, the Company issued a convertible debenture with a principal balance of $150,000 at an interest rate of 10% per annum, with the interest to be paid only in cash, for a term of one (1) year. During the year ended September 30, 2023, the Company repaid $115,000 of the principal balance of the convertible debenture. On December 29, 2023, the Company amended the terms of the convertible debenture to extend the maturity date from January 5, 2024 to January 5, 2025 and to remove the option of the holder to convert the convertible debenture into common shares of the Company, such that no securities will be issued as payment for the convertible debenture. On January 5, 2025, the Company amended the terms of the debenture to further extend the maturity date from January 5, 2025 to January 5, 2026. All other terms of the previously convertible debenture remained the same. Interest accrued but not paid as at December 31, 2025 was $8,752 (September 30, 2025 - $7,876) and is included in accounts payable and accrued liabilities. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 17 12 Loans payable A summary of loans payable as at December 31, 2025 and September 30, 2025 are as follows: December 31, 2025 $ September 30, 2025 $ Loan payable to related party (note 16) 29,600 23,000 Repayable Regional Relief and Recovery Fund contribution 666,726 711,068 696,326 734,068 Current portion (229,383) (267,125) Long term portion 466,943 466,943 Repayable Regional Relief and Recovery Fund contribution On July 27, 2020, the Company entered into a contribution agreement with PrairiesCan for a repayable financial contribution under the Regional Relief and Recovery Fund. Under the contribution agreement, PrairiesCan supported the Company with an investment of $1,000,000 for general working capital requirements (the “Contribution”). The Contribution is unsecured and non-interest bearing, unless repayment is not made as scheduled. Interest is calculated at an average bank rate plus 3%, compounded monthly, on repayments not made as scheduled. The interest calculation ends when repayments are back on sche --- dule. On December 29, 2022, the repayment terms were revised, changing the amount of the monthly installment payments and extending the final installment payment to December 31, 2027. All other terms remained the same. On January 31, 2025, the repayment terms were further revised, changing the amount of the monthly instalment payments. All other terms remained the same. The Company recalculated the carrying amount of the liability based on the revised repayment terms, discounted by the original effective interest rate of 18%. Management concluded that, based on the terms of the amended agreement, the loan amendment is a modification under IFRS 9. The Company has recorded a gain on modification of $34,794. On November 19, 2025, the repayment terms were further revised, changing the amount of the monthly instalment payments and extending the final installment payment to March 31, 2028. The Company recalculated the carrying amount of the liability based on the revised repayment terms, discounted by the original effective interest rate of 18%. Management concluded that, based on the terms of the amended agreement, the loan amendment is a modification under IFRS 9. The Company recorded a gain on modification of $19,013. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 18 12 Loans payable (continued) Repayable Regional Relief and Recovery Fund contribution (continued) The short-term and long-term components of the Contribution are as follows: During the three-month periods ended December 31, 2025, the Company incurred $19,671 (2024 - $31,586) of interest accretion expense on the Contribution. The Company’s anticipated cash outflows on the Contribution for the twelve (12) months ending December 31st are as follows: $ 2026 305,840 2027 413,760 2028 103,400 823,000 13 Share capital Authorized Unlimited common shares, with no par value Unlimited preferred shares, voting, convertible, designated as Series 1 and Series 2 a) Common shares issued Number $ Balance as at September 30, 2024 118,869,330 13,969,422 Issued pursuant to private placement (i) 4,340,000 86,800 Balance as at December 31, 2024 123,209,330 14,056,222 December 31, 2025 $ September 30, 2025 $ Current portion 199,783 244,125 Non-current portion 466,943 466,943 666,726 711,068 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 19 13 Share capital (continued) a) Common shares issued (continued) Number $ Balance as at September 30, 2025 133,209,330 14,249,780 Issued for asset acquisition 6,000,000 150,000 Balance as at December 31, 2025 139,209,330 14,399,780 (i) A non-brokered private placement financing for 4,340,000 common shares of the Company (“Common Shares”) at a price of $0.02 per Common Share for gross proceeds of $86,800. (ii) On November 25, 2025, the Company issued 6,000,000 Units to Mindsgate Ltd. for the acquisition of an IFMS software asset (note 6). Each Unit consisted of one common share and one warrant, which entitles the holder to purchase one common share at a price of $0.08 for a period of two (2) years (note 13(b)). b) Warrants A summary of the warrants outstanding as at December 31, 2025 and September 30, 2025 and changes during the periods ended on those dates is as follows: Three months ended December 31, 2025 Year ended September 30, 2025 Number Weighted average exercise price $ Number --- Weighted average exercise price $ Outstanding – Beginning of period 10,000,000 0.08 4,500,000 0.05 Issued 6,000,000 0.08 10,000,000 0.08 Expired - - (4,500,000) 0.05 Outstanding – End of period 16,000,000 0.08 10,000,000 0.08 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 20 13 Share capital (continued) b) Warrants (continued) During the three-month period ended December 31, 2025, the Company issued warrants in connection with the acquisition of the IFMS software asset (note 6) valued at $79,778 using the Black-Scholes option pricing model with the below weighted average assumptions. During the year ended September 30, 2025, the Company issued warrants in connection with private placements. The fair value of the warrants of $206,442 was determined using the Black-Scholes option pricing model with the below weighted average assumptions. Three months ended December 31, 2025 Year ended September 30, 2025 Annualized volatility 150% 150% Risk-free interest rate 2.4% 2.7% Expected life of warrants in years 2 2 Dividend rate nil% nil% Exercise price $0.08 $0.08 Market price on date of grant $0.03 $0.04 Weighted average fair value $0.013 $0.021 As at December 31, 2025, 10,000,000 warrants outstanding will expire on September 2, 2027 and 6,000,000 warrants outstanding will expire on November 25, 2027. c) Stock options and compensation expense The Company has adopted a twenty percent (20%) fixed stock option plan (the “Stock Option Plan”) for directors, officers, employees, management company employees and consultants. In accordance with the Stock Option Plan and as approved at the Annual General and Special Meeting of Shareholders on April 14, 2023, the Company has reserved up to a total of 18,886,094 common shares for issuance. The Board of Directors determines the price per common share, the number of common shares which may be allocated to each eligible participant, and all other terms and conditions of the stock options, subject to the rules of the TSX Venture Exchange. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 21 13 Share capital (continued) c) Stock options and compensation expense (continued) A summary of the stock options outstanding as at December 31, 2025 and September 30, 2025 and changes during the periods ended on those dates is as follows: Three months ended December 31, 2025 Year ended September 30, 2025 Number Weighted average exercise price $ Number Weighted average exercise price $ Outstanding – Beginning of period 18,560,000 0.07 14,740,185 0.08 Granted - - 4,120,000 0.05 Expired - - (300,185) 0.60 Outstanding – End of period 18,560,000 0.07 18,560,000 0.07 Options exercisable – End of period 13,013,333 0.08 13,013,333 0.08 The fair value of the stock options granted to non-employees was measured at the value of services the Company received. On April 16, 2025, the Company approved the grant of 4,120,000 stock options to directors, officers, employees and consultants. The stock options have an exercise price of $0.05 and will vest one third on each of the grant, first anniversary and second anniversary dates. The stock options will expire after three years if not exercised The Company used the Black-Scholes option pricing model to estimate the fair value of the stock options granted to directors, officers, employees. The Company considered --- historical volatility of its common shares as well as industry benchmarking in estimating its future stock price volatility. The risk-free interest rate for the expected life of the stock options was based on the yield available on government benchmark bonds with an approximate equivalent remaining term at the time of the grant. The expected life is based on the contractual term, taking into account expected director, employee and non-employee exercise and expected post-vesting employment termination behaviour. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 22 13 Share capital (continued) c) Stock options and compensation expense (continued) The following weighted average assumptions were used to estimate the Black-Scholes fair value of the options granted during the year ended September 30, 2025: 2025 Annualized volatility 299% Risk-free interest rate 2.5% Expected life of options in years 3 Dividend rate nil% Exercise price $0.05 Market price on date of grant $0.04 Weighted average fair value $0.040 Stock-based compensation expense for the three-month period ended December 31, 2025 was $21,786 (2024 – $4,206) which was allocated between consulting fees and wages and benefits, with a corresponding increase in contributed surplus included in shareholders’ deficiency. The following table summarizes information on stock options outstanding as at December 31, 2025: Exercise price $ Number outstanding Weighted average remaining contractual life in years Options exercisable 0.01 8,400,000 1.03 5,600,000 0.05 4,120,000 2.30 1,373,333 0.10 4,200,000 1.38 4,200,000 0.30 1,840,000 1.09 1,840,000 18,560,000 1.40 13,013,333 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 23 14 Loss per share Three months ended December 31, 2025 $ December 31, 2024 $ Net loss from continuing operations (104,214) (163,479) Net income (loss) from discontinued operation 166,555 (22,754) Net income (loss) 62,341 (186,233) 2025 2024 # # Weighted average number of common shares outstanding – basic and diluted 135,557,156 119,674,656 $ $ Basic and diluted loss per share – continuing operations (0.00) (0.00) Basic and diluted income (loss) per share – discontinued operation 0.00 (0.00) Basic and diluted income (loss) per share 0.00 (0.00) For the three-month periods ended December 31, 2025 and 2024, potential shares issuable in exchange for warrants, stock options and the previously convertible debenture have been excluded in the diluted loss per share calculation as their effects would have been anti-dilutive. In addition, 20,000,000 common shares issued by the Company, pursuant to the acquisition of Insight, which were held in escrow until their cancellation on April 23, 2024, have been excluded. 15 Supplementary cash flow information Changes in items of non-cash working capital for the three months ended December 31, 2025 and 2024: Three months ended December 31, 2025 $ December 31, 2024 $ Accounts receivable 67,287 (34,462) Inventory 5,058 5,362 Deposits and prepaid expenses 1,992 19,124 Accounts payable and accrued liabilities 37,197 80,764 Unearned revenue and customer deposits (355,380) (9,568) (243,846) 61,220 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 24 16 Related party transactions and ba --- lances During the three-month periods ended December 31, 2025 and 2024, the Company incurred the following amounts in the normal course of business and they have been valued at amounts that are considered established and agreed to by the related parties: Three months ended December 31, 2025 $ December 31, 2024 $ Sublease rental income from a company controlled by a close family member of a director and member of key management 2,400 - Office rent expense to a company controlled by a close family member of a director and member of key management 2,400 - As at December 31, 2025, the Company held a deposit balance of $64,990 (September 30, 2025 - $75,000) (note 10) from a Company controlled by close family members of a director and member of key management for an order of AFS indoor farming technology. During the three-month period ended December 31, 2025, the deposit was reduced by $10,010 for consulting and other expenses paid by the Company on behalf of the related party. The compensation to key management, and their close family members, during the three-month periods ended December 31, 2025 and 2024 are as follows: Three months ended December 31, 2025 $ December 31, 2024 $ Salaries and short-term employee benefits 22,932 22,705 Stock-based compensation 10,626 3,303 Consulting fees 63,368 76,574 96,926 102,582 TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 25 16 Related party transactions and balances (continued) Accounts payable and accrued liabilities Accounts payable and accrued liabilities as at December 31, 2025 and September 30, 2025 include the following amounts due to related parties: December 31, 2025 $ September 30, 2025 $ Salaries, consulting fees and expense reimbursements due to members of key management and companies controlled by them or close family members 565,823 521,093 Companies with common key management - 11,596 Company presently controlled by a close family member of a director and member of key management for other services 8,923 8,923 574,746 541,612 On August 3, 2023, the Company issued a promissory note (note 12) to a close family member of a director and member of key management for $23,000. The promissory note bears interest at a rate of 1% per month and matures on August 2, 2026. On December 8, 2025, the Company issued another promissory note (note 12) to the same individual for $6,600. The promissory note bears interest at a rate of 1% per month and matures on December 8, 2026. As at December 31, 2025, $6,670 of interest is payable on the promissory note and included in accounts payable and accrued liabilities (September 30, 2025 - $460). The Company may pay the outstanding balance at any time before the maturity date without penalty. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 26 17 Segment disclosures Management has organized the Company under three reportable segments: ViewTrak, the development and sale of information solutions for the livestock industry and related services (discontinued, see note 4), BIX, which leverages blockchain-derived technology and unique incentive solutions to deliver independent validation of food provenance and sustainable production practices within the agri-food supply chain, and AFS, which holds the exclusive Alberta territory license for an innovative Controlled Environment Agriculture v --- ertical indoor farming solution. Three months ended December 31, 2025 AFS $ ViewTrak (discontinued) (note 4) $ BIX $ Consolidated $ Revenue from external customers - 366,524 - 366,524 Expenses (47,960) (197,702) (53,450) (299,112) Amortization and depreciation - (2,495) - (2,495) Other income (expenses) - 227 (2,803) (2,576) Net income (loss) (47,960) 166,554 (56,253) (62,341) Three months ended December 31, 2024 AFS $ ViewTrak (discontinued) (note 4) $ BIX $ Consolidated $ Revenue from external customers - 359,059 2,762 361,821 Expenses (61,270) (359,923) (46,189) (467,382) Amortization and depreciation (24,733) (2,986) - (27,719) Other income (expenses) - (18,904) (34,049) (52,953) Net loss (86,003) (22,754) (77,476) (186,233) For the three-month period ended December 31, 2024, AFS includes $24,733 of amortization related to the AFS license. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 27 17 Segment disclosures (continued) Geographical segmentation The Company’s segments are managed on a worldwide basis. Substantially all of the Company’s assets are located in Canada. Revenue during the three-month periods ended December 31, 2025 and 2024, of $366,524 and $359,059, respectively, relates to the ViewTrak segment which is discontinued (note 4). Revenue from other segments during the three-month periods ended December 31, 2025 and 2024 was $nil and $2,762, respectively, and is not significant. The following is a summary of total revenue by geographic location in which the Company’s customers are located: Three months ended December 31, 2025 $ December 31, 2024 $ Canada 56,673 53,051 United States 307,939 307,001 Other 1,912 1,769 366,524 361,821 18 Financial instruments and financial risk management For accounting recognition and measurement purposes, cash, accounts receivable, share subscription receivable, bank indebtedness, accounts payable and accrued liabilities, loans payable and debenture are classified as amortized cost. The carrying value of cash, accounts receivable, share subscription receivable, bank indebtedness, accounts payable and accrued liabilities and debenture approximates their fair value due to the immediate or short-term maturity of these financial instruments. The loans payable were measured using the estimated incremental borrowing rate and approximates fair value. Financial instruments recognized on the interim condensed consolidated statements of financial position dates at fair value are classified in a hierarchy based on the significance of the estimates used in their measurement, as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Inputs for the asset or liability that are not based on observable market data. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 28 18 Financial instruments and financial risk management (continued) The non-marketable equity securities in Provision Analytics (note 8) are an investment in a privately held company without readily determinable market values and is classified as Level 3. During the three-month period ended December 31, 2025, there have been no transfers between levels of the fair value hierarc --- hy. Financial risk management The Company’s activities are exposed to a variety of financial risks: market risk, credit risk and liquidity risk. The Company’s overall risk management program focuses on the unpredictability of financial and economic markets and seeks to minimize potential adverse effects on the Company’s financial performance. Risk management is carried out by financial management in conjunction with overall corporate governance. a) Market risk i) Currency risk Some of the Company’s transactions, assets and liabilities are denominated in US dollars and thus the Company is exposed to risk arising from changes in exchange rates. The following table presents the Company’s exposure in Canadian dollars to the US dollar as at December 31, 2025 and September 30, 2025: December 31, 2025 $ September 30, 2025 $ Cash – USD - 52,708 Accounts receivable – USD 7,083 57,749 Accounts payable and accrued liabilities – USD (68,273) (81,282) (61,190) 29,175 December 31, 2025 $ September 30, 2025 $ CAD$ - USD 0.7296 0.7183 As at December 31, 2025, based on the Company’s foreign currency exposure noted above, varying the foreign exchange rates to reflect a 10% strengthening of the US dollar would have increased net loss by approximately $6,000 (September 30, 2025 – decreased net loss by approximately $3,000), assuming all other variables remained constant. An assumed 10% weakening of the US dollar would have had an equal but opposite effect to the amounts shown above, assuming all other variables remained constant. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 29 18 Financial instruments and financial risk management (continued) Financial risk management (continued) ii) Market price risk The Company is exposed to market price risk on its equity investment in Provision Analytics Inc. (note 8). Market price risk is the risk of loss arising from changes in the fair value of a financial instrument as a result of changes in market prices. The sensitivity of the fair value of the investment to changes in market prices is monitored by the Company and it estimates that a 20% increase or decrease in the market price would result in an approximately $36,000 increase or decrease, respectively, in the fair value of the investment. iii) Interest rate risk The Company does not have any significant variable rate financial liabilities and is therefore management does not believe it is exposed to significant interest rate risk as at December 31, 2025. b) Credit risk The Company, in the normal course of business, is exposed to credit risk from its customers. The allowance for doubtful accounts and past due receivables is reviewed by management at each consolidated statement of financial position reporting date. Accounts are considered past due when customers have failed to make the contractually required payment when due, which is generally within 60 days of the billing date. The Company applied the simplified approach to provide for ECL prescribed by IFRS 9, which permits the use of the lifetime ECL provision for trade receivables and contract assets without a significant financing component. The following table presents a summary of the activity related to the allowance for doubtful accounts: Three months ended December 31, 2025 $ Year ended September 30, 2025 $ Balance – Beginning of period 81,198 79,024 Accounts written off, net of recoveries 6,124 2,174 Balance – --- End of period 87,322 81,198 Management believes the risks associated with concentrations of credit risk with respect to accounts receivable are limited due to the nature of the customers and the generally short-term payment cycle. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 30 18 Financial instruments and financial risk management (continued) Financial risk management (continued) b) Credit risk (continued) The aging of the Company’s trade accounts receivable is as follows: December 31, 2025 September 30, 2025 $ % $ % Current - 27 45,408 27 31 – 60 days 1,157 2 2,478 2 61 – 90 days 6,538 2 2,862 2 Greater than 90 days 91,137 69 115,197 69 98,832 100 165,945 100 c) Liquidity risk Liquidity risk is the risk the Company will encounter difficultly in meeting financial obligations as they come due. See note 1 for additional disclosure on the Company’s financial condition. The Company manages its liquidity risk through the management of its capital structure and financial leverage. It also monitors its cash position to its actual cash position and timing of payments to suppliers, ensuring that sufficient funds are available when payments come due. The Board of Directors reviews and approves any material transactions out of the ordinary course of business. As at December 31, 2025 and September 30, 2025, the Company’s financial liabilities that mature within one year are: December 31, 2025 $ September 30, 2025 $ Bank indebtedness 17,496 - Accounts payable and accrued liabilities 1,518,423 1,481,226 Loans payable 229,383 267,125 Debenture 35,000 35,000 Lease liability 9,012 8,558 1,809,314 1,791,909 Accounts payable and accrued liabilities from two (2) vendors of the Company (September 30, 2025 – two (2)) represented $859,354 or 57% (September 30, 2025 - $824,157 or 56% of the Company’s total accounts payable and accrued liabilities and are due within one (1) year. TrustBIX Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (Express in Canadian Dollars) December 31, 2025 31 18 Financial instruments and financial risk management (continued) Financial risk management (continued) c) Liquidity risk (continued) The Company’s long-term liabilities include loans payable of $466,943 (September 30, 2025 - $466,943) (note 12) and a lease liability of $2,533 (September 30, 2025 - $4,955) (note 7). Anticipated cash outflows on the lease liability and loans payable as at December 31, 2025 are disclosed in note 7 and 12, respectively. 19 Subsequent events On January 5, 2026, the Company amended the terms of the debenture (note 11) to further extend the maturity date from January 5, 2026 to January 5, 2027. Subsequent to December 31, 2025, the Company entered into three separate non-binding Letters of Intent (“LOIs”) to acquire 100% of the issued and outstanding shares of: • Output Provider Solutions Inc. (“OPS”), a technology services company based in Edmonton, Alberta, for consideration of up to 5,000,000 units of the Company; • Zen Cyber Ltd. (“Zen Cyber”), a Canadian cybersecurity consulting company, for consideration of up to 6,250,000 units of the Company; and • xFacilitator Inc., operating as WILDCARD MSP (“WILDCARD”), an IT managed services provider, for consideration of up to 1,000,000 units of the Company. Each unit consists of one common share and one common share purchase warrant exercisable at $0.08 for two years. The propo --- sed transactions are subject to due diligence, board and regulatory approvals (including approval of the TSX Venture Exchange), and execution of definitive agreements. There can be no assurance that any of the transactions will be completed as contemplated.