SEDAR Interim Financial Statements

Biomark Diagnostics Inc. Condensed Consolidated Interim Financial Statements For the nine-month period ended December 31, 2025 and 2024 (Stated in Canadian Dollars) (Unaudited - Prepared by Management) NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102, if an auditor has not performed a review of the condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the condensed consolidated interim financial statements have not been reviewed by an auditor. The accompanying unaudited condensed consolidated interim financial statements 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 condensed consolidated interim financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for review of condensed consolidated interim financial statements by an entity's auditor. 2 Biomark Diagnostics Inc. Condensed Consolidated Interim Statement of Financial Position (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, March 31, Note 2025 2025 Assets Current Cash and cash equivalents $ 487,700 $ 2,481,766 Short-term investment 3 798,486 - Amount receivable 191,688 160,662 1,477,874 2,642,428 Prepaid expenses 50,372 34,605 Long-term investments 5 3,200 3,200 Property and equipment 6 16,200 24,091 Right-of-use asset 7 588,137 429,957 $ 2,135,783 $ 3,134,281 Liabilities and Shareholders' Deficiency Current Accounts payable and accrued liabilities $ 224,368 $ 267,475 Client deposit 8,357 8,357 Current portion of lease liability 7 318,364 293,446 Due to related parties 4 683,246 663,339 1,234,335 1,232,617 Lease liability 7 393,415 160,710 1,627,750 1,393,327 Shareholders' equity Share capital 8 13,781,686 13,781,686 Contributed surplus 3,777,159 3,732,355 Deficit (17,050,812) (15,773,087) 508,033 1,740,954 $ 2,135,783 $ 3,134,281 Nature and Operations and Going Concern (Note 1) Commitments (Note 12) On behalf of the Board Rashid Ahmed Maula Bux, Director Dr. Bram Ramjiawan, Director The accompanying notes are an integral part of these condensed consolidated interim financial statements. 3 Biomark Diagnostics Inc. Condensed Consolidated Interim Statement of Net Loss and Comprehensive Loss (Stated in Canadian Dollars) (Unaudited - Prepared by Management) For the three-month For the nine-month period ended period ended December 31, December 31, December 31, December 31, Note 2025 2024 2025 2024 Revenue $ 6,916 $ 38,563 $ 52,779 $ 115,224 Expenses Research and development 168,621 113,375 471,201 533,751 Depreciation on right-of-use asset 7 136,883 54,336 315,844 163,009 Consulting fees 4 87,688 85,050 265,451 273,565 Professional fees 60,228 38,044 220,575 161,025 Filing and transfer agent fees 32,999 25,522 124,568 68,511 Office and miscellaneous 36,315 17,956 74,791 56,507 Share-based compensation 8 24,890 15,812 44,804 336,735 Interest and bank charges 22,711 14,684 38,250 50,228 Travel 7,654 4,885 16,105 25,564 Depreciation of property and equipment 6 4,138 4,158 12,127 11,406 Total operating expenses 582,127 373,822 1,583,716 1,680,301 Other expenses (income) Foreign exchange (gain) loss 17,489 (490) 76,095 (490) Tax credit income (126,227) - (126,227) (59,145) Government grants (69,927) - (164,219) - Interest income (16,224) - (38,861) (92) Total other expenses (income) (194,889) --- (490) (253,212) (59,727) Net loss and comprehensive loss $ (380,322) $ (334,769) $ (1,277,725) $ (1,505,350) Basic and diluted loss per share $ (0.02) $ (0.02) $ (0.02) $ (0.02) Weighted average number of common shares outstanding 105,090,213 885,238,142 105,090,213 885,238,142 The accompanying notes are an integral part of these condensed consolidated interim financial statements. 4 Biomark Diagnostics Inc. Condensed Consolidated Interim Statement of Cash Flows (Stated in Canadian Dollars) (Unaudited - Prepared by Management) For the nine-month period ended December 31 2025 2024 Cash flows from operating activities Net loss and comprehensive loss $ (1,277,725) $ (1,505,350) Items not affecting cash Shares-based compensation 44,804 336,735 Depreciation of property and equipment 12,126 11,407 Depreciation of right-of-use of asset 315,844 163,009 Interest on lease liability 25,748 49,613 (879,203) (944,586) Changes in non-cash working capital items related to operations: Amounts receivable (31,026) (27,785) Prepaid expenses (15,767) - Accounts payable and accrued liabilities and client deposit (43,107) 331,192 Cash used in operating activities (969,103) (641,179) Cash flows used in investing activity Purchase of property and equipment (628,140) (2,508) Purchase of marketable securities (2,883,770) - Proceeds on disposal of marketable securities 2,085,284 - (1,426,626) (2,508) Cash flows from financing activities Advances from related parties 267,908 288,908 Repayment of due to related parties (246,000) (84,700) Addition of lease liability 646,530 - Repayment of lease liability (243,331) (309,012) Adjustments to lease liability (23,444) - Share subscriptions received - 680,325 401,663 575,521 Decrease in cash (1,994,066) (68,166) Cash and cash equivalents, beginning of period 2,481,766 156,749 Cash and cash equivalents, end of period $ 487,700 $ 88,583 The accompanying notes are an integral part of these condensed consolidated interim financial statements. 5 Biomark Diagnostics Inc. Condensed Consolidated Interim Statement of Changes in Deficiency (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 Number Share Shares Contributed of Shares Capital to be issued Surplus Deficit Total Balance, March 31, 2024 90,886,229 $ 10,138,812 $ 350,000 $ 2,352,010 $ (13,450,428) $ (609,606) Share subscriptions received - - 3,611,195 - - 3,611,195 Share issued for cash 14,203,984 3,642,874 (3,961,195) 618,321 - 300,000 Share-based compensation - - - 366,645 - 366,645 Warrants extended - - - 395,379 (395,379) - Comprehensive loss - - - - (1,927,280) (1,927,280) Balance, March 31, 2025 105,090,213 13,781,686 - 3,732,355 (15,773,087) 1,740,954 Share-based compensation - - - 44,804 - 44,804 Comprehensive loss - - - - (1,277,725) (1,277,725) Balance, December 31, 2025 105,090,213 $ 13,781,686 $ - $ 3,777,159 $ (17,050,812) $ 508,033 The accompanying notes are an integral part of these condensed consolidated interim financial statements. 6 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 1. Nature and Operations and Going Concern BioMark Diagnostics Inc. ("BioMark Diagnostics" or the "Company") was incorporated on June 19, 2014, under the Business Corporation Act of British Columbia. The head office of the Company is 145 - 10451 Shellbridge way Richmond, British Columbia, V6X 2W8. The ultimate parent of BioMa --- rk Diagnostics is BioMark Technologies Inc. ("BTI"), which is located at the same address as the Company. The Company is developing its early-stage cancer diagnostic technology platform. BioMark Diagnostics' cancer diagnostics technology platform leverages "Omics" and machine learning with a focus on how to detect and treat cancers. BioMark Diagnostics is currently focused on bringing its liquid biopsy-based cancer diagnostic tests and detection solution to commercialization. The Company is currently listed for trading on the Canadian Securities Exchange under the symbol "BUX", OTC Market under the symbol "BMKDF" and Frankfurt Stock Exchange under the symbol "20B". Going Concern These condensed consolidated interim financial statements are prepared on a going concern basis, which assumes that the Company will continue its operations for the next twelve months. During the nine-month period ended December 31, 2025, the Company incurred a net loss of $1,277,725 (2024 - net loss of $1,505,350) and as at December 31, 2025, the Company had accumulated deficit of $17,050,812 (2024 - deficit of $15,351,157). Management is of the opinion that sufficient external financing will be obtained in the future to meet the Company's liabilities and commitments as they become due, although there is a risk that additional financing will not be available on a timely basis or on terms acceptable to the Company. These factors indicate the existence of a material uncertainty that may cast significant doubt on the ability of the Company to continue as a going concern. The Company's ability to continue its operations is uncertain and is dependent upon obtaining additional financing or maintaining continued support from its shareholders and creditors the next twelve months. These condensed consolidated interim financial statements have been prepared with the assumption that the Company will be able to realize its assets and discharge its liabilities in the normal course of business rather than through a forced liquidation. These condensed consolidated interim financial statements do not give effect to adjustments that would be necessary to the carrying amounts and classifications of assets and liabilities should the Company be unable to continue as a going concern. 7 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 2. Basis of Preparation Statement of Compliance These condensed consolidated interim financial statements (the "Financial Statements") have been prepared in accordance with International Accounting Standard 34 interim Financial Reporting ("IAS 34") using accounting policies consistent with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). The Financial Statements should be read in conjunction with the Company's annual financial statements as at and for the year ended March 31, 2025 (the "Annual Financial Statements"). The accounting policies and critical estimates applied by the Company in the Financial Statements are the same as those applied in the Annual Financial Statement. The Financial Statements do not include all the information required for full annual financial statements, however, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Company's financial position and perf --- ormance since the most recent Annual Financial Statements. The Financial Statements were approved and authorized for issue by the Board of Directors of the Company on February 27, 2026. Basis of Measurement and Consolidation These condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiaries, BioMark Cancer Systems Inc. ("BioMark Cancer"), BioMark Diagnostic Solutions Inc. ("BDS") and BioMark Cancer Diagnostics USA Inc. ("BioMark Cancer Diagnostics USA"). BioMark Cancer was incorporated on February 27, 2014, under the Business Corporation Act of British Columbia. BioMark Diagnostic Solutions was incorporated on August 17, 2020, under the Business Corporation Act of Quebec. BioMark Cancer Diagnostics USA was incorporated on January 2, 2019, in the State of Delaware, United States. All material inter-company balances and transactions have been eliminated upon consolidation. The condensed consolidated interim financial statements are presented in Canadian dollars, unless otherwise noted, which is also the functional currency for the Company and its wholly- owned subsidiaries. 8 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 3. Short-term Investment As of December 31, 2025, the Company held short-term investments totaling $798,486. The investment is classified as current financial asset and are measured in accordance with IFRS 9 - financial instruments. Date Amount Interest Rate Maturity Date April 28, 2025 $ 23,000 2.70 April 27, 2026 June 25, 2025 150,000 2.45 July 28, 2025 Total 173,000 Amount Reedem as of December 31, 2025 (150,000) Total $ 23,000 The total amount in USD invested in GIC is following: Date Amount Interest Rate Maturity Date April 2, 2025 $ 200,000 4.05 July 2, 2025 April 2, 2025 300,000 4.15 July 31, 2025 April 2, 2025 400,000 4.15 September 29, 2025 April 2, 2025 300,000 4.40 December 29, 2025 July 4, 2025 200,000 4.00 October 1, 2025 August 1, 2025 150,000 3.70 July 31, 2026 October 07, 2025 100,000 3.35 October 06, 2026 October 07, 2025 400,000 3.65 February 04, 2026 Total 2,050,000 Amount Reedem as of December 31, 2025 1,485,000 Total 565,000 Converted into CAD (1.372542) 775,486 Total amount invest in GIC as of December 31, 2025 $ 798,486 9 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 4. Related Parties Transactions and Balances During the period ended December 31, 2025, the Company has the following transactions with and balances owed to BTI: December 31, December 31, 2025 2024 Owing to BTI $ 47,798 $ 49,798 BTI holds approximately 39.02% of the common shares of the Company as at December 31, 2025 (2024 - 45.12%). The CEO owns more than 10% interest in the Company. Key Management Compensation Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly. Key management personnel include the Company's executive officers and Board of Director members. On April 1, 2021, the Company entered into an Independent Contractor Agreement (the "Agreement") with the CEO of the Company. According to the Agreement, the Company shall pay the CEO $20,000 with applicable tax per calendar month, to be paid monthly or in su --- ch other instalments and at such other times as the CEO and the Company may mutually agree in writing. The Company shall pay all reasonable business and out-of-pocket expenses actually and properly incurred by the CEO from time to time in furtherance of or in connection with the services including, but not limited to, all reasonable travel and other business expenses. The CEO will be entitled to a cash bonus in the amount of $250,000 upon the Company achieving a market capitalization of at least $75 million USD over a period of 30 trading days. According to the Agreement, the Company engaged CEO service to provide important services that include develop and direct the corporate strategy, resource allocation, review acquisitions or partnerships, drive or generate revenue growth, hire, and retain staff as necessary, support in capital raise rounds, manage past relationships and build business and collaborations. The Company has not compensated the CEO with a cash bonus based on these trading price calculations. 10 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 4. Related Parties Transactions and Balances (continued) Short-term key management compensation consists of the following: For the three-month For the nine-month period ended period ended December 31, December 31, December 31, December 31, 2025 2024 2025 2024 Transactions Consulting fees: CEO and a company controlled by the CEO $ 60,000 $ 60,000 $ 180,000 $ 180,000 Interim CFO 25,050 25,050 75,150 75,150 $ 85,050 $ 85,050 $ 255,150 $ 255,150 As at December 31, 2025, the Company has $499,181 (2024 - $737,681) due to the CEO and $136,268 (2024 - $156,557) due to the Chief Financial Officer ("CFO"). The balances due to related parties are unsecured, non-interest bearing and without fixed repayment terms. 5. Long-term Investments On June 3, 2020, the Company entered into a license agreement with Bio-Stream Diagnostics Inc. ("Bio-Stream") to provide Bio-Stream with the right to use one of its patents for a one- time cash fee of $10. Bio-Stream was incorporated in the province of Alberta on June 1, 2020 by the Company, Stream - ML Technologies Inc., Merogenomics Inc., and Gamble Technologies Limited. As of December 31, 2025, the Company held 18.64% (2024 - 19.76%) of Bio-Stream's issued and outstanding common shares, and the Company's CEO has been appointed as one of the four directors. This investment is recorded at cost. 11 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 6. Property and Equipment Computers Equipments Total Cost Balance, as at March 31, 2024 $ 7,799 $ 61,095 $ 68,894 Additions 1,026 2,507 3,533 Disposals - - - Balance, as at March 31, 2025 8,825 63,602 72,427 Additions 4,235 - 4,235 Balance, as at December 31, 2025 $ 13,060 $ 63,602 $ 76,662 Computers Equipments Total Accumulated depreciation Balance, as at March 31, 2024 $ 3,207 $ 29,892 $ 33,099 Depreciation for the year 2,600 12,637 15,237 Balance, as at March 31, 2025 5,807 42,529 48,336 Depreciation for the period 2,586 9,540 12,126 Balance, as at December 31, 2025 $ 8,393 $ 52,069 $ 60,462 Computers Equipments Total Net book value March 31, 2024 $ 4,592 $ 43,397 $ 35,795 March 31, 2025 $ 3,018 $ 21,073 $ 24,091 December 31, 2025 $ 4,667 $ 11,533 $ 16,200 12 Biomark Diagnosti --- cs Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 7. Right-of-use Asset and Lease Liability During the quarter ended December 31, 2025, the Company amended its lease for the lab located at 10451 Shellbridge Way, Richmond, BC V6X 2W8. The amendment was accounted for as a lease modification under IFRS 16, resulting in the remeasurement of the lease liability and a corresponding adjustment to the right-of-use asset Equipment Office Lease Total Cost At March 31, 2024 $ 674,765 $ 652,038 $ 1,326,803 At March 31, 2025 674,765 652,038 1,326,803 Additions during the year 623,905 - 623,905 Adjustments during the year - (169,932) (169,932) At December 31, 2025 $ 1,298,670 $ 482,106 $ 1,780,776 Accumulated Depreciation At March 31, 2024 $ 435,515 $ 75,294 $ 510,809 Depreciation for the year 168,691 217,346 386,037 At March 31, 2025 604,206 292,640 896,846 Depreciation of the year 109,553 206,291 315,844 Adjustments during the year - (20,051) (20,051) At December 31, 2025 $ 713,759 $ 478,880 $ 1,192,639 Net Book Value At March 31, 2024 $ 239,250 $ 576,744 $ 815,994 At March 31, 2025 $ 70,559 $ 359,398 $ 429,957 At December 31, 2025 $ 584,911 $ 3,226 $ 588,137 13 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 7. Right-of-use Asset and Lease Liability (Continued) Lease Liability Equipment Office Lease Total At March 31, 2024 $ 217,415 $ 588,516 $ 805,931 Lease payments made (171,637) (241,392) (413,029) Interest on lease liability 23,086 38,168 61,254 At March 31, 2025 68,864 385,292 454,156 Additions during the year 623,905 22,625 646,530 Adjustments during the year - (171,324) (171,324) Lease payment made (140,708) (102,623) (243,331) Interest on lease liability 15,965 9,783 25,748 At December 31, 2025 568,026 143,753 711,779 Short-term portion of lease liability at December 31, 2025 194,601 123,763 318,364 Long-term portion of lease liability at December 31, 2025 $ 373,425 $ 19,990 $ 393,415 Lease repayments for the next years are as follows : 2026 $ 162,823 2027 226,148 2028 175,970 2029 146,838 $ 711,779 14 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 8. Share Capital a) Authorized Unlimited common shares, without par value. b) Issued Common shares issued and outstanding - see condensed consolidated interim statements of changes in deficiency. On December 29, 2023, the Company closed a non-brokered private placement of 7,600,000 units at a price of $0.255 per unit for a total gross proceed of a total consideration of $1,938,000 of which $38,000 has been allocated to the share purchase warrants using the residual value method and of which $1,900,000 was received in the fiscal year end March 31, 2023. The securities issued under the private placement will be subject to a hold period of four months and one day. Each unit consists of one common share and one share purchase warrant. One share purchase warrant will entitle the holder thereof to purchase one common share of the Company at $0.45 per share for a period of two years from the closing date of the private placement, subject to an acceleration clause. Of the 7,600,000 units, 1,032,261 were issued to settle outstanding debt to related party of $258, --- 065. No Finders' fees were payable on the private placement. On March 26, 2025, the Company issued 9,610,000 units (the "Units") at a price of $0.30 per Unit, for aggregate gross proceeds of $2,883,000 of which $480,500 has been allocated to share purchase warrants using the residual value method. Each unit consists of one common share of BioMark and one full purchase warrant. One whole share purchase warrant will entitle the holder thereof to purchase one common share of BioMark at $0.50 per share for a period of three years from the closing date of the private placement. The securities issued under the private placement will be subject to a period of four months and one day under the Canadian securities laws and subject to resale restrictions under the U.S. securities laws. No finders' fees were payable on the private placement. 15 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 8. Share Capital (Continued) On March 31, 2025, the Company issued the second tranche consisted of 4,593,984 units, bringing the total number of Units issued in this financing round to 14,203,984 of which $137,821 has been allocated to share purchase warrants using the residual value method, and of which $350,000 was received in the fiscal year ended March 31, 2024. The Units were issued at a price of $0.30 per Unit, for aggregate gross proceeds of $4,261,195. The financing will be utilized to accelerate BioMark's commercialization and for other corporate development goals. The securities issued under the private placement will be subject to a hold period of four months and one day. Each unit consists of one common share of BioMark and one full purchase warrant. One whole share purchase warrant will entitle the holder thereof to purchase one common share of BioMark at $0.50 per share for a period of three years from the closing date of the private placement. A debt conversion consisting of 1,000,000 units in settlement of indebtedness in the aggregate amount of $300,000 to pay Due to the Related Party was also completed. No finders' fees were payable on the private placement. During the nine-month period ended December 31, 2025, $Nil (2024 - $680,325) was received in cash for shares to be issued. c) Stock Options: The Company's current stock option plan (the "Stock Option Plan (2025)") was last approved by the shareholders on December 22, 2025. Pursuant to the Existing Plan, the maximum number of common shares of the Company which may be authorized for reservation for the grant of options from time to time shall be 15% of the Company's then issued and outstanding common shares. The plan provides for the granting of options to directors, employees and consultants. The Board of Directors determines the features of the awards, including the exercise price, the term and vesting provisions. 16 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 8. Share Capital (Continued) Information regarding the Company's outstanding share purchase options is summarized below: Weighted Number Average of Options Exercise Expiry Date Outstanding Price Balance, March 31, 2024, Outstanding 6,357,000 $ 0.34 Granted April 18, 2027 4,625,000 $ 0.45 Granted December 31, 2024 (3,735,000) $ 0.30 Balance, March 31, 2025, Outstanding 7,247,000 $ 0.43 Expi --- red July 14, 2025 (2,410,000) $ 0.40 Expired August 03, 2025 (212,000) $ 0.40 Balance, December 31, 2025, Outstanding 4,625,000 $ 0.45 Balance, December 31, 2025, Exercisable 4,625,000 $ 0.45 The number of options exercisable as at December 31, 2025 was 4,625,000 (2024 - 4,934,500 options). The weighted average life remaining for these options was 1.05 years. The options outstanding at December 31, 2025 are as follows: Number Number of Options of Options Exercise Grant Expiry Outstanding Exercisable Price Date Date 4,625,000 4,625,000 $ 0.45 2024-04-18 2027-04-18 On April 18, 2024, the Company granted 4,625,000 common share purchase options exercisable at $0.45 per share expiring in three years to consultants of the Company. 25% of the options will vest immediately and 25% every six months. During the nine-month period ended December 31, 2025, the Company recorded a total share-based compensation expense of $44,804 (2024 - $336,735). The Company used the Black-Scholes option pricing model with weighted average assumptions and resulting values for grants as follows: April 18, 2024 Assumptions: Risk-free interest rate (%) 3.91% Expected life (years) 3 years Expected volatility (%) 73% Expected dividend Nil Expected forfeiture rate Nil 17 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 8. Share Capital (Continued) d) Warrants: On November 28, 2023, 1,115,579 warrants due to expire on December 13, 2023, were extended to December 13, 2024. The estimated fair value of the warrant extension is $44,774 which has been recorded as an increase to contributed surplus with the offsetting entry recorded to deficit. This fair value was estimated using the Black-Scholes model that calculated for the difference between the extended period and the remaining period when the decision was undertaken to extend the warrants. The assumptions used were as follows for the two periods respectively: no expected dividend yield, 69% and 73% expected volatility, 5.01% and 5.07% risk-free interest rate, and 1.05 and 0.04 years warrant expected life. On December 13, 2024, 1,115,579 warrants were expired. On April 18, 2024, 5,062,000 warrants due to expire on May 4, 2024 were extended to May 4, 2026. The estimated fair value of the warrant extension is $395,355 which has been recorded as an increase to contributed surplus with the offsetting entry recorded to deficit. This fair value was estimated using the Black-Scholes model that calculated for the difference between the extended period and the remaining period when the decision was undertaken to extend the warrants. The assumptions used were as follows for the period : no expected dividend yield, 68% and 57% expected volatility, 4.20% and 4.87% risk-free interest rate and 2.05 and 0.05 years warrant expected life. Information regarding the Company's outstanding warrants is summarized below: Weighted Number Number Average of Warrants of Warrants Exercise Expiry Date Outstanding Exercisable Price Balance, as at March 31, 2023 6,177,579 6,177,579 $ 0.45 Issued Dec. 29, 2026 7,600,000 7,600,000 $ 0.45 Balance, as at March 31, 2024 13,777,579 13,777,579 $ 0.45 Expired Dec.13, 2024 (1,115,579) 1,115,579 $ 0.45 Issued Mar. 26, 2028 9,610,000 9,610,000 $ 0.50 Expired Dec. 13, 2024 4,593,984 4,693,984 $ 0.50 Balance as at March 31, 2025 26,865,984 29,197,142 $ 0.48 Balance, as at December 31, 2025 26,865,9 --- 84 29,197,142 $ 0.48 The number of warrants exercisable as at December 31, 2025 was 26,865,984 (2024 - 12,662,000 warrants). The weighted average life remaining for these warrants was 1.53 years. 18 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 9. Gouvernement Grants In September 2023, the Company's wholly owned laboratory subsidiary, BDS entered into a definitive agreement to receive non-repayable funding of up to CAD $231,000 from the City of Quebec through its Vision Entrepreneuriale Québec 2026 to accelerate commercialization and market development activities of its proprietary assay for early detection of lung cancer. Under this financial assistance program, the City of Quebec will reimburse up to 45% of eligible expenses which include associated project salaries, marketing and business development costs, professional service fees, and travel subsidies over a 2-year period. The Company received and recognized $95,000 in funding under the terms of this contribution agreement for the year ended March 31, 2024, which was recorded as Other Income. The Company was approved to receive second payment of $84,341for the fiscal year ended March 31, 2025, and the fund was received on January 21, 2026. The program was closed, and the Company recognized $ 179,341 in total as of December 31, 2025. On February 24, 2025, the Company's Quebec-based subsidiary, "BDS" entered into an agreement to receive advisory service and funding up to $74,900 from NRC IRAP to support research and development of a Risk Prediction Model for Early Breast Cancer Detection. Under this program, NRC IRAP will reimburse up to 80% of eligible project salaries and 50% of eligible contractor costs. The Project started on February 24, 2025, and completed on July 31, 2025. The Company received and recognized $74,900 as of December 31, 2025. On June 2, 2025, the Company's Quebec-based subsidiary, "BDS" entered into an agreement to receive advisory service and funding up to $499,800 from NRC IRAP to support research and development of Biomarker-Guided Refinements of Lung Cancer Screening for Health Enhancement. Under this program, NRC IRAP will reimburse up to 80% of eligible project salaries and 50% of eligible contractor costs. The Project started on May 12, 2025, and completed on February 12, 2027. The Company recognized $99,977.83 as of December 31, 2025. 19 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 10. Financial Instruments The Company classifies its fair value measurements in accordance with an established hierarchy that prioritizes the inputs in valuation techniques used to measure fair value as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3: Inputs that are not based on observable market data. No financial assets were measured at fair value in 2025 and 2024. Credit risk Credit risk is the risk of loss due to the counterparty's inability to meet its obligations. The Company's exposure to credit risk is mainly on its cash. Risk associated with cash is managed through the use of major banks which are hig --- h credit quality financial institutions as determined by rating agencie. Interest rate risk Interest rate risk is the risk the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Financial assets and liabilities with variable interest rates expose the Company to cash flow interest rate risk. The Company does not hold any financial liabilities with variable interest rates. The Company does maintain bank accounts which earn interest at variable rates but it does not believe it is currently subject to any significant interest rate risk. Liquidity risk The Company's ability to continue as a going concern is dependent on management's ability to raise required funding through future equity issuances and through short-term borrowing. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board of Directors are actively involved in the review, planning and approval of significant expenditures and commitments. 20 Biomark Diagnostics Inc. Notes to Condensed Consolidated Interim Financial Statements (Stated in Canadian Dollars) (Unaudited - Prepared by Management) December 31, 2025 10. Financial Instruments (continued) Foreign Exchange Risk The Company is exposed to foreign exchange risk arising from financial instruments denominated in currencies other than its functional currency, primarily the U.S. dollar (“USD”). This exposure relates mainly to a USD-denominated Guaranteed Investment Certificate (“GIC”). Foreign exchange risk represents the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company manages this risk by converting currencies as needed at prevailing market rates, rather than using derivative instruments or other formal hedging strategies. As at December 31, 2025, the Company held a USD-denominated GIC with a carrying value of US$565,000 (equivalent to CAD$775,486 at the reporting date exchange rate of 1.372542. Interest income earned on the GIC may partially offset any potential foreign exchange loss arising from fluctuations in the USD/CAD exchange rate. The Company continues to monitor its exposure and may consider additional risk management strategies in the future as deemed appropriate The Company intends to meet its current obligations in the following year with funds to be raised through private placements, the issuance of shares for debt, loans and related party loans. See Note 1. 11. Capital Risk Management The Company defines its capital as shareholders' equity. The Company's objectives when managing capital are to safeguard the Company's ability to continue as a going concern in order to pursue the development of its technologies and to maintain a flexible capital structure for its projects for the benefit of its shareholders. As the Company is in the development stage, its principal source of funds is from the issuance of common shares. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares, acquire or dispose of assets or adjust the amount of cash. The Company is not subject to externally imposed capital requirements. 12. Commitments a) The Company is committed to an Indepe --- ndent Contractor Agreement with the CEO as described in Note 3. 21