SEDAR Interim Financial Statements

Hypercharge Networks Corp. Condensed Consolidated Interim Financial Statements For the three and nine months ended December 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (Unaudited) NOTICE OF NO AUDITOR REVIEW OF INTERIM 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 condensed consolidated interim financial statements (the "Interim Financial Statements") have been prepared by and are the responsibility of management of Hypercharge Networks Corp. (the “Company” or “Hypercharge”). The Company's independent auditor has not performed a review of these Interim Financial Statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor. Hypercharge Networks Corp. Condensed Consolidated Interim Statements of Financial Position (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed consolidated interim financial statements December 31, March 31, Note 2025 2025 ASSETS Current assets Cash and cash equivalents $ 2,954,703 $ 862,499 Accounts receivable 4 3,117,566 2,567,449 Prepaid expenses and other current assets 5 783,739 1,128,900 Inventory 6 406,530 1,401,188 7,262,538 5,960,036 Non-Current assets Property and equipment 7 131,581 158,761 Prepaid expenses 5 69,624 76,000 Right-of-use assets 10 - 47,122 201,205 281,883 Total assets $ 7,463,743 $ 6,241,919 LIABILITIES Current liabilities Accounts payable and accrued liabilities 8 $ 2,775,603 $ 2,824,315 Current portion of deferred revenue 9 825,204 2,449,424 Current portion of lease liabilities 10 - 49,766 Holdbacks payable 10,203 10,203 3,611,010 5,333,708 Non-Current liabilities Deferred revenue 9 257,290 286,673 257,290 286,673 Total liabilities 3,868,300 5,620,381 EQUITY Share capital 11 28,253,427 24,275,327 Warrants reserve 11 924,982 1,968,122 Share-based payment reserve 11 662,995 978,971 Obligation to issue shares 11 22,500 22,500 Accumulated other comprehensive income (loss) 5,059 (19,762) Accumulated deficit (26,273,520) (26,603,620) Total shareholders' equity 3,595,443 621,538 Total liabilities and equity $ 7,463,743 $ 6,241,919 Going concern 1 Subsequent events 20 These condensed consolidated interim financial statements were authorized for issue by the Board of Directors on February 27, 2026. They are signed by the Board of Directors by: “Keith Inman” “Malcolm Davidson” Keith Inman, Director Malcolm Davidson, Director Hypercharge Networks Corp. Condensed Consolidated Interim Statements of Loss and Comprehensive Loss (Unaudited - Expressed in Canadian Dollars, except for the number of shares) The accompanying notes are an integral part of these condensed consolidated interim financial statements Three months Three months Nine months Nine months ended ended ended ended Note December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Revenue 17 $ 2,580,946 $ 4,978,951 $ 9,658,144 $ 7,255,643 Cost of sales 18 (1,715,223) (3,910,027) (7,094,507) (5,520,110) Gross profit 865,723 1,068,924 2,563,637 1,735,533 Operating expenses General and administrative 19 630,678 835,598 1,952,600 3,077,668 Sales and marketing 19 552,177 323,531 1,373,663 1,149,321 Research and develo --- pment 19 196,027 249,814 600,258 627,473 Total operating expenses 1,378,882 1,408,943 3,926,521 4,854,462 Operating loss (513,159) (340,019) (1,362,884) (3,118,929) Other expenses (income) Foreign exchange (gain) loss 24,803 4,804 28,176 7,810 Interest income, net (9,947) (5,210) (14,865) (45,459) Other income (73,386) (386) (74,574) (1,339) Total other expenses (income) (58,530) (792) (61,263) (38,988) Net loss (454,629) (339,227) (1,301,621) (3,079,941) Other comprehensive income: Cumulative translation reserve 6,593 (17,299) 24,821 (16,584) Comprehensive loss $ (448,036) $ (356,526) $ (1,276,800) $ (3,096,525) Basic and diluted loss per share $ (0.00) $ (0.00) $ (0.01) $ (0.04) Weighted average number of shares outstanding - basic and diluted 124,672,731 70,705,205 107,795,543 70,575,806 Hypercharge Networks Corp. Condensed Consolidated Interim Statements of Changes in Equity (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed consolidated interim financial statements Note Share capital Share-based payment reserve Warrant reserve Obligation to issue shares Accumulated other comprehensive loss Deficit Total shareholders' equity Balance, March 31, 2024 $ 22,659,575 $ 1,307,173 $ 2,118,149 $ - $ (3,575) $ (22,576,217) $ 3,505,105 Share-based payments 11 & 13 - 435,242 2,156 - - - 437,398 Performance Share Units Vested 11 123,889 (133,031) - - - - (9,142) Restricted Share Units Vested 11 308,127 (551,070) - 229,800 - - (13,143) Transfer on forfeiture of stock options - (16,898) - - - 16,898 - Transfer on forfeiture of performance warrants - - (175,880) - - 175,880 - Net loss - - - - - (3,079,941) (3,079,941) Other comprehensive income - - - - (16,584) - (16,584) Balance, December 31, 2024 $ 23,091,591 $ 1,041,416 $ 1,944,425 $ 229,800 $ (20,159) $ (25,463,380) $ 823,693 Note Share capital Share-based payment reserve Warrant reserve Obligation to issue shares Accumulated other comprehensive loss Deficit Total shareholders' equity Balance, March 31, 2025 $ 24,275,327 $ 978,971 $ 1,968,122 $ 22,500 $ (19,762) $ (26,603,620) $ 621,538 Common shares issued 11 4,401,545 - - - - - 4,401,545 - Issuance cost - cash (428,916) - - - - - (428,916) - Issuance cost - advisory warrants (93,748) - 93,748 - - - - Warrants issued 11 187,500 187,500 - Issuance cost - cash (22,574) (22,574) Share-based payments 11 & 13 - 212,897 1,208 - - - 214,105 Performance Share Units Vested 11 24,436 (43,000) - - - - (18,564) Restricted Share Units Vested 11 97,357 (109,052) - - - - (11,695) Transfer on forfeiture of stock options - (314,071) - - - 306,125 (7,946) Transfer on forfeiture of performance warrants - - (1,325,596) - - 1,325,596 - Transfer on forfeiture of RSU - (4,348) - - - - (4,348) Transfer on forfeiture of PSU - (58,402) - - - - (58,402) Net loss - - - - - (1,301,621) (1,301,621) Other comprehensive income - - - - 24,821 - 24,821 Balance, December 31, 2025 $ 28,253,427 $ 662,995 $ 924,982 $ 22,500 $ 5,059 $ (26,273,520) $ 3,595,443 Hypercharge Networks Corp. Condensed Consolidated Interim Statements of Cash Flows (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed consolidated interim financial statements Nine months ended Nine months ended Note December 31, 2025 December 31, 2024 Cash provided by (used in): Operating activities: Net loss $ (1,301,621) $ (3,079,940) Items not involving cash: Share-based payments 11 & 13 143,409 437,398 Depreciat --- ion and amortization 7 & 10 117,829 214,052 Non-cash interest, net 10 817 6,918 Changes in non-cash working capital items: Accounts receivable (553,304) (826,525) Inventory 994,658 286,411 Prepaid expenses and other current assets 350,545 (57,038) Accounts payable and accrued liabilities (76,227) 1,613,378 Deferred revenue (1,651,544) 602,377 Net cash used in operating activities (1,975,438) (802,970) Investing activities: Lease payments received - 38,025 Purchase of equipment 7 (44,038) (83,917) Net cash used in investing activities (44,038) (45,892) Financing activities: Common shares issued for cash, net of cash transaction costs 11 4,137,555 - Repayments of lease liability 10 (50,583) (142,200) Net cash provided by (used in) financing activities 4,086,972 (142,200) Increase (decrease) in cash flows 2,067,496 (1,019,264) Net foreign exchange difference 24,708 11,883 Cash and cash equivalents, beginning of the period 862,499 2,497,063 Cash and cash equivalents, end of the period $ 2,954,703 $ 1,489,682 Supplemental cash flow information 12 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 9 1. Nature of Operations and Going Concern Hypercharge Networks Corp. (the "Company" or "Hypercharge") was incorporated under the Business Corporations Act (British Columbia) on September 5, 2018. The head office of the Company, as well as the registered and records office is located at 1075 W. 1St St., #208, North Vancouver, British Columbia, V7P 3T4. Effective March 28, 2024, the Company's common shares ("Common Shares") began trading on the TSX Venture Exchange (“TSXV”) under the symbol "HC". Prior to March 28, 2024 and beginning on November 16, 2022, the Company’s Common Shares were listed on the NEO Exchange Inc. (“NEO”) which was acquired by Cboe Canada and subsequently on the Frankfurt Stock Exchange under the symbol "PB7", and the OTCQB Venture Market under the symbol "HCNWF". The Company is in the business of providing electric vehicle (EV) charging equipment and solutions. The Company has established teams in British Columbia, Ontario, and California with experience in EV technology, software and hardware, and supplies and installs EV charging stations across North America. As of December 31, 2025, the Company had positive working capital of $3,651,528 and had sufficient cash resources to meet its obligations over the next twelve months. However, the Company has not yet achieved profitable operations and continues to rely on external financing to fund its operating activities and support future growth. These conditions indicates the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern. During the period ended December 31, 2025, the Company completed a brokered private placement for gross proceeds of $3,750,000. The proceeds strengthened the Company’s liquidity position and improved working capital. While this financing improves the Company’s liquidity position, it does not change the assessment that, as at December 31, 2025, a material uncertainty existed. These condensed consolidated interim financial statements do not include any adjustments that might result if the Company is unable to continue as a going concern. 2. Material accounting policies These condensed consolidated interim financial statements were authorized for issue by --- the board of directors of the Company (“Board”) on February 26, 2026. Statement of compliance These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board (“IASB”). Accordingly, certain information and note disclosure normally included in annual financial statements prepared in accordance with IFRS Accounting Standards (“IFRS”) have been omitted or condensed, and therefore, these condensed consolidated interim financial statements should be read in conjunction with the Company’s March 31, 2025, audited annual financial statements and the notes to such financial statements. Certain comparative figures have been reclassified to conform with current period presentation. Basis of presentation These condensed consolidated interim financial statements have been prepared on an accrual basis and are based on the historical cost, except for some financial instruments, which are measured at fair value in accordance with standards under IFRS. These condensed consolidated interim financial statements are presented in Canadian dollars unless otherwise specified. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 10 2. Statement of compliance and Basis of preparation (continued) Basis of consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s subsidiaries are entities controlled by the Company, and the Company has power over each subsidiary through its exposure and rights to variable returns from such applicable subsidiary. The financial statements of the Company’s subsidiaries are prepared for the same reporting period as the Company, and all intercompany transactions and balances have been eliminated. The Company’s subsidiaries consist of the following: Subsidiary Jurisdiction Ownership Date of control 2836601 Ontario Ltd. Canada 100% April 30, 2021 Spark Charging Solutions Inc. “Spark” Canada 100% November 1, 2021 Hypercharge Networks Inc. United States 100% March 15, 2022 CoSource Information Technology Inc. “CoSource” Canada 100% April 22, 2022 Presentation and functional currency The functional currency of the Company is measured using the currency of the primary economic environment in which the Company operates. The functional currency of Hypercharge Networks Corp., Spark and CoSource is Canadian dollars, and the functional currency of Hypercharge Networks Inc. is US dollars. Material accounting policies The material accounting policies applied in the preparation of these condensed consolidated interim financial statements are consistent with the accounting policies disclosed in Note 2 of the audited consolidated financial statements for the year ended March 31, 2025. These condensed consolidated interim statements should be read in conjunction with the Company’s audited financial statements for the year ended March 31, 2025. New accounting pronouncements The following accounting standards and amendments have been issued by the IASB that are not yet effective as of the date of the consolidated financial statements. The Company intends to adopt such standards upon the mandatory effective date. IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 introduces th --- ree sets of new requirements to give investors more transparent and comparable information about companies’ financial performance for better investment decisions. i. Three defined categories for income and expenses - operating, investing and financing - to improve the structure of the income statement, and require all companies to provide new defined subtotals, including operating profit. ii. Requirement for companies to disclose explanations of management-defined performance measures (MPMs) that are related to the income statement. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 11 2. Statement of compliance and Basis of preparation (continued) IFRS 18 Presentation and Disclosure in Financial Statements (continued) iii. Enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes. This new standard is effective for reporting periods beginning on or after January 1, 2027. The Company will be evaluating the impact of the above amendments on its consolidated financial statements. 3. Significant accounting judgments, estimates and assumptions The preparation of these condensed consolidated interim financial statements in accordance with IAS 34 requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. The significant accounting judgments, estimates, and assumptions used in these interim financial statements are consistent with those disclosed in Note 3 of the audited annual financial statements for the year ended March 31, 2025, except for judgments related to the new Charging as a Service (“CaaS”) and Carbon Credit Program revenue streams. No other significant changes in judgments or estimation uncertainties have arisen since March 31, 2025. (a) Charging as a Service (CaaS) arrangements Management exercised significant judgment in determining the appropriate accounting for the Company’s CaaS model, under which Hypercharge installs, owns and operates EV charging equipment and provides ongoing access, software, maintenance and operational support over a five-year term. In assessing the arrangement under IFRS 15 and IAS 16, management concluded that: (i) the various activities—including equipment supply, installation, commissioning, software, connectivity, warranty and maintenance—are highly interrelated and form a single performance obligation, (ii) the customer does not obtain control of the charging equipment, and therefore installation does not constitute a separate performance obligation, (iii) the nature of the promise is the provision of an integrated charging service over time, and (iv) revenue is therefore recognized over time on a straight-line basis over the contract term, unless evidence suggests a different pattern of service delivery. Significant judgment was also required in determining that the related charging equipment is property, plant and equipment under IAS 16, as Hypercharge retains ownership and uses the assets to deliver the service. Costs directly attributable to bringing the chargers to the condition necessary for use—including equipment, installation, activation and connectivity—are capitalized. Useful life assessments require further ju --- dgment, as the chargers may remain economically useful beyond the initial five-year customer arrangement. (b) Carbon Credit Program Management exercised significant judgment in determining the appropriate accounting for the Company’s Carbon Credit Program, which involves administering, aggregating and monetizing carbon credits generated by customer-owned charging stations. Based on an assessment of control over the administration service, primary responsibility for delivery, discretion over fees retained, and exposure to credit risk, management concluded that Hypercharge acts as a principal in these arrangements. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 12 3. Significant accounting judgments, estimates and assumptions (continued) Judgment was also required in determining that the activities involved represent a single performance obligation, as the various administrative and monetization steps are not distinct within the context of the contract. Management further determined that the performance obligation is satisfied at a point in time, when the carbon credits are sold and proceeds become determinable. These judgments affect the timing of revenue recognition and the measurement and presentation of related contract liabilities. Estimation Uncertainty Significant sources of estimation uncertainty The preparation of these condensed consolidated interim financial statements requires management to make estimates and assumptions that affect the amounts reported for assets, liabilities, revenues and expenses. These estimates are based on historical experience and other factors considered reasonable in the circumstances, but actual results may differ. Estimates that involve a significant risk of material adjustment within the next financial year include the following: (a) Useful lives and residual values of CaaS charging equipment Under the CaaS model, Hypercharge capitalizes charging equipment used to deliver services to customers. Estimating the useful life of this equipment requires judgment regarding expected technological obsolescence, usage patterns, redeployment potential after contract expiry, and residual value. While customer contracts are typically five years, the equipment may remain in serviceability beyond the initial term, and changes in expected usage or redeployment opportunities may result in material adjustments to depreciation (b) Measurement of Carbon Credit proceeds Revenue from the Carbon Credit Program depends on estimates regarding the volume of credits generated, pricing in carbon markets, government verification timing, and deductions by third-party administrators. These factors may change prior to the final settlement of credits, and actual proceeds may differ from amounts estimated at the reporting date. Changes to these estimates could result in material adjustments to revenue and contract liabilities in future periods. 4. Accounts receivable As at December 31, 2025 March 31, 2025 Trade accounts receivable $ 3,065,066 $ 2,801,693 Interest receivable 4,757 2,606 Other receivables 47,743 46,370 $ 3,117,566 $ 2,850,669 Loss allowance - (283,220) $ 3,117,566 $ 2,567,449 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 13 4. Accounts r --- eceivable (continued) During the nine months ended December 31, 2025 and year ended March 31, 2025, the movement of the Company’s loss allowance recorded in office and administration expenses is as follows: As at December 31, 2025 March 31, 2025 Balance, beginning of period $ 283,220 $ 237,765 Provision (reversal) of loss allowance (105,410) 45,455 Accounts written off against allowance (177,810) - Balance, end of period $ - $ 283,220 During the nine months ended December 31, 2025, management reassessed the recoverability of accounts receivable in accordance with the Company’s expected credit loss policy. A total of $105,410 of previously recognized expected credit losses was reversed following collections and improved credit assessments. In addition, $177,810 of receivables that had been fully provided for in prior periods were written off against the loss allowance. As at December 31, 2025, no loss allowance was required. 5. Prepaid expenses and other current assets As at December 31, 2025 March 31, 2025 Prepaid Expenses $ 752,869 $ 1,102,787 Prepaid Warranties 24,757 20,000 Other Assets 6,113 6,113 $ 783,739 $ 1,128,900 Prepaid expenses and other current assets include prepaid insurance, annual subscriptions, memberships, business licenses and prepaid warranty programs, as well as other advance payments recognized over their respective service periods. The balance also includes supplier deposits related to equipment purchases, certification programs, inventory components and other operational commitments. All amounts are expected to be realized within twelve months, with no impairment indicators noted. In addition, the Company has $69,624 (March 31, 2025 – $76,000) recorded as non-current prepaid expenses related to extended warranty programs, which are amortized over their respective coverage periods extending beyond twelve months. 6. Inventory Inventory consists of EV charging equipment, components, inventory under warranty and items in transit. As at December 31, 2025, inventory totaled $406,530 (March 31, 2025 – $1,401,188). No allowance for obsolete inventory was recorded. During the nine months ended December 31, 2025, the Company recognized $5,864,396 of inventory as an expense of cost of goods sold (December 31, 2024 - $5,520,110). Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 14 7. Property and equipment Cost Computer equipment Furniture and equipment Leasehold Improvements Charging equipment and demo units Charging as a Service Equipment (CaaS) Total March 31, 2024 $ 46,417 $ 37,924 $ 68,402 $ 224,973 $ - $ 377,716 Additions 1,742 6,809 - 76,722 - 85,273 Disposals and transfer to inventory - - (68,402) (24,803) - (93,205) Movement in foreign exchange 133 - - 732 - 865 March 31, 2025 $ 48,292 $ 44,733 $ - $ 277,624 $ - $ 370,649 Additions - - - 30,239 14,009 44,248 Movement in foreign exchange (111) - - (611) - (722) December 31, 2025 $ 48,181 $ 44,733 $ - $ 307,252 $ 14,009 $ 414,175 Accumulated Depreciation Computer equipment Furniture and equipment Leasehold Improvements Charging equipment and demo units Charging as a Service Equipment (CaaS) Total March 31, 2024 $ 22,316 $ 9,354 $ 61,534 $ 69,872 $ - $ 163,076 Additions 14,385 8,520 6,868 94,131 - 123,904 Disposals and transfer to inventory - - (68,402) (6,890) - (75,292) Movement in foreign exchange 59 - - 141 - 200 March 31, 202 --- 5 $ 36,760 $ 17,874 $ - $ 157,254 $ - $ 211,888 Additions 6,404 6,845 - 56,255 934 70,438 Movement in foreign exchange 65 - - 203 - 268 December 31, 2025 $ 43,229 $ 24,719 $ - $ 213,712 $ 934 282,594 Net book value Computer equipment Furniture and equipment Leasehold Improvements Charging equipment and demo units Charging as a Service Equipment (CaaS) Total December 31, 2025 $ 4,952 $ 20,014 $ - $ 93,540 $ 13,075 131,581 March 31, 2025 $ 11,532 $ 26,859 $ - $ 120,370 $ - 158,761 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 15 8. Accounts payable and accrued liabilities As at December 31, 2025 March 31, 2025 Trade Payable $ 953,584 $ 1,875,952 Accrued Liabilities 1,280,455 477,430 Carbon Credit - CFR 98,210 - Payroll and Benefit Liabilities 438,057 461,022 Government Remittances 5,297 9,911 $ 2,775,603 $ 2,824,315 The Company participates in the federal Clean Fuel Regulations (“CFR”), under which public and commercial EV charging stations generate compliance credits. In accordance with the CFR, 100% of proceeds received from the transfer of these credits must be reinvested in eligible EV-infrastructure or programs that reduce the cost of electric vehicle ownership. On June 23, 2025, the Company received proceeds from the sale of CFR compliance credits, which were recorded within Carbon Credit Liability - CFR as the related reinvestment requirements had not yet been met. As at December 31, 2025, the balance of the CFR liability was $98,210 (March 31, 2025 – $Nil). 9. Current and Non-current Deferred Revenue (a) Current portion As at December 31, 2025 March 31, 2025 Customer Deposits $ 178,614 $ 1,940,719 Deferred charging revenue 123,805 82,305 Unearned Income 434,679 346,169 Warranties 88,106 80,231 $ 825,204 $ 2,449,424 Current balance includes customer deposits received in advance of equipment delivery or installation, deferred charging revenue related to network services and software subscriptions, unearned income from service arrangements and Charging-as-a-Service contracts, and the current portion of extended warranty plans. Revenue is recognized as the underlying performance obligations are satisfied in accordance with IFRS 15. During the three months ended December 31, 2025, $172,907 (2024 – $91,750) of deferred revenue was recognized within SaaS, Charging-as-a-Service, and other revenue related to charging and warranties revenue. During the nine months ended December 31, 2025, $466,807 (2024 – $271,300) was recognized within the same revenue categories. (b) Non-Current portion Non-current deferred revenue consists primarily of the non-current portion of extended warranty plans and unearned income from long-term service arrangements. The Company has $257,290 (March 31, 2025 – $286,673) recorded as non-current deferred revenue, which will be recognized over the remaining contractual service periods extending beyond twelve months. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 16 10. Leases (a) Right-of-use assets Buildings Balance, March 31, 2024 $ 242,424 Depreciation (152,751) Termination (42,551) Balance, March 31, 2025 47,122 Depreciation (47,122) Balance, December 31, 2025 $ - (b) Lease liabilities Balance, March 31, 2024 $ 252,529 Interest expen --- se 13,379 Terminations (26,614) Lease payments (189,528) Balance, March 31 2025 49,766 Interest expense 817 Lease payments (50,583) Balance, December 31, 2025 $ - December 31, March 31, As of 2025 2025 Current $ - $ 49,766 Non-current - - $ - $ 49,766 During the nine months ended December 31, 2025, the Company recorded interest expense of $817 (March 31, 2025 - $13,379) related to lease liabilities recognized for office and warehouse space. The fixed term of the Company’s primary office lease expired in August 2025. Upon expiry, the lease transitioned to a month-to-month arrangement with no enforceable term. 11. Share capital (a) Authorized The Company has authorized an unlimited number of Common Shares without par value. (b) Issued As at December 31, 2025, there were 138,565,416 (March 31, 2025 – 87,399,476) Common Shares issued and outstanding. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 17 11. Share capital (continued) Number of Common shares Share Capital Balance, March 31, 2024 70,396,834 22,659,575 Common shares issued, net of share issue costs 16,111,527 970,878 Performance share units settled 181,670 123,889 Restricted share units settled 709,445 520,985 Balance, March 31, 2025 87,399,476 $ 24,275,327 Common shares issued, net of share issue costs 50,497,461 3,856,307 Performance share units settled 346,573 24,437 Restricted share units settled 321,906 97,356 Balance, December 31, 2025 138,565,416 $ 28,253,427 On March 14, 2025 (the “Closing Date”), the Company closed the first tranche of a non-brokered private placement financing, pursuant to which the Company issued an aggregate of 16,111,527 units of the Company (each, a "Unit") at a price of $0.065 per Unit, for aggregate gross proceeds of $1,047,250 (the "Financing"). Each Unit is comprised of one common share of the Company (each, a "Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant is transferable and entitles the holder thereof to acquire one Share at any time for a period of three years from the date of issuance at a price of $0.12 per Share. If during the period beginning four months and one day after the Closing Date, the Company's shares trade on the TSXV at or above a daily volume weighted average trading price of $0.20 per Common Share for ten consecutive trading days, the Company will be entitled to give notice that the Warrants will expire thirty days from the date of providing such notice. In connection with the Financing, the Company paid finders fees of $52,740 and issued 811,382 finder's warrants (the "Finder's Warrants") to certain eligible finders with a grant date fair value of $23,632 were recorded as share issuance costs. Each Finder's Warrant entitles the holder to acquire one Share for a period of three years from the date of issuance at a price of $0.12 per Share. On April 23, 2025, the Company closed the second and final tranche (the “Second Tranche”) of its Financing through the issuance of a further 12,997,461 Units of the Company at a price of $0.065 per Unit for gross proceeds of $844,835. In connection with the Second Tranche, the Company paid finders' fees of $5,790 and issued 87,540 Finder’s Warrants with a grant date fair value of $2,458. On November 04, 2025, the Company closed a brokered private placement under the Listed Issuer Financing Exemption (“LIF --- E Offering”). The Offering provided for the issuance of between 37,500,000 Units at a price of $0.10 per unit for gross proceeds of $3,750,000. Each Unit consisted of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $0.12 for a period of 24 months. The Warrants are subject to an acceleration provision whereby, if the Company’s common shares trade on the TSXV at a volume-weighted average price of $0.20 or greater for ten (10) consecutive trading days, the Company may accelerate the expiry date upon written notice to holders, in which case the Warrants will expire thirty (30) days following such notice. The gross proceeds were allocated between the common shares and the warrants using the residual method, $3,562,500 and $187,500 respectively, whereby the fair value of the common shares was determined based on the market price of $0.095 on the closing date and the residual amount was assigned to the warrants. Transaction costs were allocated between the common shares and warrants based on their relative fair values. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 18 11. Share capital (continued) The Company received the net proceeds of $3,374,000 on November 4, 2025. In connection with Financing, the Company paid Broker Commissions of $203,100 and issued 2,031,000 Broker’s warrants with a grant date fair value of $91,291 were recorded as share issuance costs. The Company also incurred $248,390 in transaction costs, including legal, regulatory, listing and other professional fees, which were recorded as share issuance costs. During the nine months ended December 31, 2025, the Company issued 321,906 Common Shares (2024 – 483,145) upon the settlement of 471,827 employee RSUs during the period (2024 – 587,708). During the nine months ended December 31, 2025, the Company issued 346,573 Common Shares (2024 – 181,670) upon the settlement of 586,181 employee PSUs during the period (2024 – 278,018). (c) Warrants (i) Non-performance warrants The non-performance warrant continuity schedule is as follows: Nine months ended Nine months ended December 31, 2025 December 31, 2024 Number of warrants Weighted average exercise price Number of warrants Weighted average exercise price Balance, beginning of period 19,303,861 $ 0.12 2,380,952 $ 0.12 Granted 33,866,001 0.12 - - Balance, end of period 53,169,862 $ 0.12 2,380,952 $ 0.12 Warrants exercisable, end of period 53,169,862 $ 0.12 2,380,952 $ 0.12 Details of the Company’s non-performance warrants outstanding as at December 31, 2025, are as follows: Exercise price Number of warrants outstanding Expiry date $ 0.12(*) 2,380,952 May 17, 2026 $ 0.12 20,781,000 November 4, 2027 $ 0.12 16,922,909 March 14, 2028 $ 0.12 13,085,001 April 23, 2028 53,169,862 (*) During the year ended March 31, 2025, these warrants were repriced from $1.35 to $0.12. A forced exercise clause was also added, whereby the exercise period of the warrants will be reduced to 30 days, if for any 10 consecutive trading days, the closing price of the shares exceeds the exercise price of the warrants by 25% or more. The weighted average remaining contractual life of the non-performance warrants outstanding at December 31, 2025, excluding the non-performance warrants without a fixed expiry date, is 2.56 years (March 31, 2025 – 2.73 years). Hypercharge --- Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 19 11. Share capital (continued) During the nine months ended December 31, 2025 the fair value related to the 87,540 finder’s warrants of $2,458 was determined using the Black-Scholes Model using the following assumptions: Nine months ended December 31, 2025 Exercise life 3 years Expected volatility (*) 80.31% Risk-free rate 2.65% Dividend yield - Underlying share price $ 0.065 Exercise price $ 0.12 (*) – The Company measures its volatility based on a proxy of publicly traded companies that are similar in size and operate in a similar industry. The expected volatility reflects the assumption that historical volatility over a period similar to the life of the warrants is indicative of future trends which may not necessarily be the actual outcome. During the nine months ended December 31, 2025 the fair value related to the 2,031,000 Broker’s warrants of $91,291 was determined using the Black-Scholes Model using the following assumptions: Nine months ended December 31, 2025 Exercise life 2 years Expected volatility (*) 89,65% Risk-free rate 2.43% Dividend yield - Underlying share price $ 0.095 Exercise price $ 0.10 (*) – The Company measures its volatility based on a proxy of publicly traded companies that are similar in size and operate in a similar industry. The expected volatility reflects the assumption that historical volatility over a period similar to the life of the warrants is indicative of future trends which may not necessarily be the actual outcome. (ii) Performance warrants The performance warrant continuity schedule is as follows: Nine months ended Nine months ended December 31, 2025 December 31, 2024 Number of warrants Weighted average exercise price Number of warrants Weighted average exercise price Balance, beginning of period 4,141,667 $ 0.39 6,221,667 $ 0.35 Expired, Forfeited or cancelled (1,591,667) (0.25) (2,080,000) (0.25) Balance, end of period 2,550,000 $ 0.48 4,141,667 $ 0.35 Warrants exercisable, end of period 1,660,000 $ 0.42 3,121,667 $ 0.33 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 20 11. Share capital (continued) Details of the Company's performance warrants outstanding at December 31, 2025 are as follows: Exercise price Number of warrants outstanding Expiry date $ 0.40 1,500,000 May 13, 2027 $ 0.60 1,050,000 September 28, 2027 2,550,000 Details of the performance warrants exercisable at December 31, 2025 are as follows: Exercise price Number of warrants exercisable Expiry date $ 0.40 1,500,000 May 13, 2027 $ 0.60 160,000 September 28, 2027 1,660,000 The weighted average remaining contractual life of the performance warrants exercisable as at December 31, 2025 is 1.40 years (March 31, 2025 – 1.11 years). The fair value of the performance warrants, including issuances and revaluations, was determined using the Black-Scholes model using the following assumptions: Nine months ended Nine months ended December 31, 2025 December 31, 2024 Exercise life 2.25 years 2.74 – 3.24 years Expected volatility (*) 84.61% 80.19% – 82.70% Risk-free rate 2.59% 2.74% - 3.83% Dividend yield - - Underlying share price $ 0.095 $ 0.075 - 0.12 Exercise price $ 0.60 $ 0.25 - 0.60 (*) – The Company measures its volati --- lity based on a proxy of publicly traded companies that are similar in size and operate in a similar industry. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the warrants is indicative of future trends which may not necessarily be the actual outcome. Share-based payment expense relating to performance warrants was $1,206 (2024 – $2,156). Advisory warrants The Company previously issued advisory warrants in connection with a financing transaction. During the nine months ended December 31, 2025, 1,591,667 unexercised advisory warrants expired. No advisory warrants remain outstanding. Collaboration warrants Performance warrants issued under the Target Park collaboration agreement were fully forfeited or expired during the year ended March 31, 2025. Accordingly, no collaboration warrants vested or remain outstanding as at December 31, 2025. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 21 11. Share capital (continued) Consultant warrants The Company has 1,050,000 consultant performance warrants outstanding, vesting based on charging-port delivery milestones. During the nine months ended December 31, 2025, the Company recognized share-based payment expense of $1,206 (2024 – $1,206). No new consultant warrants were granted in the period. (d) Options During the nine months ended December 31, 2025, the Company recorded share-based payment expense of $104,743 (2024 - $73,707). The Option continuity schedule for the nine months ended December 31, 2025 and 2024 is as follows: Nine months ended Nine months ended December 31, 2025 December 31, 2024 Number of options Weighted average exercise price Number of options Weighted average exercise price Balance, beginning of period 4,055,926 $ 0.34 3,500,721 $ 0.43 Granted 2,668,250 0.08 810,205 0.11 Forfeited, cancelled, or expired (1,491,721) (0.46) (50,000) (1.31) Balance, end of period 5,232,455 $ 0.18 4,260,926 $ 0.36 Options exercisable, end of period 3,127,241 $ 0.23 3,255,323 $ 0.41 The following is a summary of the outstanding Options at December 31, 2025: Exercise price Number outstanding Remaining contractual life (years) Number exercisable $ 0.065 714,285 4.38 178,571 $ 0.07 100,000 3.03 25,000 $ 0.08 1,778,965 7.28 986,465 $ 0.10 150,000 4.83 - $ 0.11 500,000 4.78 - $ 0.12 50,000 3.70 25,000 $ 0.13 20,000 3.45 5,000 $ 0.22 65,205 3.28 65,205 $ 0.25 1,250,000 0.49 1,250,000 $ 0.27 80,000 2.88 80,000 $ 0.54 200,000 2.78 200,000 $ 0.58 300,000 0.00 300,000 $ 0.60 24,000 2.01 12,000 0.29 5,232,455 3,127,241 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 22 11. Share capital (continued) As at December 31, 2025, the weighted average remaining contractual life of outstanding options is 2.97 years and the weighted average remaining vesting period is 1.45 years. The fair value of the Options granted during the nine months ended December 31, 2025 and 2024 were estimated using the following Black-Scholes Model assumptions: Nine months ended Nine months ended December 31, 2025 December 31, 2024 Expected life 5 years 4-5 years Expected volatility(*) 89.65% - 89.97% 84.51% - 88.20% Risk-free rate 2.77% - 2.84% 2.73% - 3.69% Dividend yield - - Underlying share p --- rice $ 0.065 - 0.10 $ 0.08 - 0.22 Exercise price $ 0.065 - 0.60 $ 0.08 - 0.22 (*) – The Company measures its volatility based on a proxy of publicly traded companies that are similar in size and operate in a similar industry. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the Options is indicative of future trends which may not necessarily be the actual outcome. (e) PSUs During the nine months ended December 31, 2025, the Company recorded share-based payment expense of $75,463 (2024 - $77,474) for the PSUs issued to employees. The Company did not have any obligation to issue common shares for vested PSUs as at March 31, 2025 and 2024. Set out below is a reconciliation of the changes in the PSUs as at December 31, 2025 and March 31, 2025: # of awards Employee Contractor Total Balance, March 31, 2024 685,000 1,000,000 1,685,000 Granted 916,674 - 916,674 Exercised (278,018) - (278,018) Forfeited (597,819) - (597,819) Balance, March 31, 2025 725,837 1,000,000 1,725,837 Granted 1,108,409 - 1,108,409 Exercised (586,181) - (492,790) Forfeited (14,656) (1,000,000) (1,000,000) Balance, December 31, 2025 1,233,409 - 1,233,409 The Company's PSUs include a net settlement feature under which the Company, upon request of the holder, may withhold a portion of the Common Shares to settle the tax obligations of the employee. During the nine months ended December 31, 2025, the Company net settled 586,181 employee PSUs (2024 – 384,331) by withholding the number of shares with a fair value equal to the monetary value of the employees' tax obligations and issued only the remaining shares upon completion of the vesting period. During the nine months ended December 31, 2025, the Company withheld 239,608 PSUs (2024 – 104,498 ) with a fair value of $18,565 to settle the employees' tax obligations (2024 – $9,140). Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 23 11. Share capital (continued) (f) RSUs During the nine months ended December 31, 2025, the Company recorded share-based payment expense of $32,692 associated with the service cost of RSUs (2024 - $284,061). As at December 31, 2025, the Company recorded an obligation to issue shares of $22,500 associated with 50,000 RSUs for which the shares had not been issued (March 31, 2025 – obligation of $22,500 associated with 50,000 RSUs for which the shares had not been issued). Set out below is a reconciliation of the changes in the RSUs as at December 31, 2025 and March 31, 2025: # of awards Employee Contractor Total Balance, March 31, 2024 1,257,709 - 1,257,709 Granted 688,493 - 688,493 Exercised (1,124,375) - (1,124,375) Forfeited (150,000) - (150,000) Balance, March 31, 2025 671,827 - 671,827 Granted 612,857 - 512,857 Exercised (471,827) - (471,827) Forfeited (242,857) - (242,857) Balance, December 31, 2025 570,000 - 470,000 The Company’s RSUs include a net settlement feature under which the Company, upon request of the holder, may withhold a portion of the shares to settle the tax obligations of the employee. During the nine months ended December 31, 2025, the Company net settled 471,827 RSUs (2024 – 471,875) by withholding the number of shares with a fair value equal to the monetary value of the employees’ tax obligations and issued only the remaining shares upon completion of the vesting period. Du --- ring the nine months ended December 31, 2025, the Company withheld 149,921 RSUs with a fair value of $11,696 to settle the employees’ tax obligations (2024 – 104,563 RSUs withheld with a fair value of $13,142). (g) Reserves The share-based payment reserve and warrant reserve record items recognized as share-based compensation expense and other share-based payments until such time that the Options and warrants are exercised or PSUs and RSUs are settled, at which time the corresponding amount will be transferred to share capital. Upon expiry of Options or warrants, the corresponding amount previously recorded to reserve will be transferred to deficit. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 24 12. Supplemental cash flow information March 31, 2025 Cash flows from financing activities Accretion December 31, 2025 Lease liabilities $ 49,766 $ (50,583) $ 817 $ - March 31, 2024 Cash flows from financing activities Accretion December 31, 2024 Lease liabilities $ 252,529 $ (142,200) $ 11,526 $ 121,855 Components of cash and cash equivalents at December 31, 2025 and March 31, 2025: December 31, 2025 March 31, 2025 Cash $ 2,904,703 $ 812,499 Cash equivalents 50,000 50,000 Cash and cash equivalents $ 2,954,703 $ 862,499 Components of non-cash investing and financing activities during the nine months ended December 31, 2025 and 2024 are as follows: December 31, 2025 December 31, 2024 Issuance of finders’ warrants $ 93,748 $ - 13. Related party transactions Key management personnel include those persons who have authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of members of the Board and corporate officers, including the CEO, COO, and Chief Financial Officer (“CFO”). The Company measures related party transactions at the exchange amount, which represents the consideration agreed upon between the Company and the related party. In addition to cash compensation, the Company also permits participation in the Incentive Plan. The compensation paid to key management personnel and recorded in general and administrative expenses is as follows: Nine months ended Nine months ended December 31, 2025 December 31, 2024 Wages and benefits $ 471,513 $ 599,572 Share-based payments 124,346 312,852 Balance end of period $ 595,859 $ 912,424 As of December 31, 2025, there was a balance of $100,000 (March 31, 2025 - $236,907) owing to related parties, which is included in accrued liabilities. These amounts are unsecured, non-interest- bearing and payable on demand. Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 25 14. Management of capital The Company considers its capital to be comprised of shareholders’ equity. The Board does not establish quantitative return on capital criteria for management but rather relies on the expertise of the Company’s management to sustain future development of the business. In order to carry out planned activities and pay administrative costs, the Company may attempt to raise additional amounts of capital through the issuance of Common Shares. Management reviews its capital management approach on an ongoing basis and believes that t --- his approach, given the relative size of the Company, is reasonable. There were no changes in the Company’s approach to capital management since incorporation. The Company is not subject to external capital requirements. 15. Financial instruments Set out below are categories of financial instruments and fair value measurements: December 31, March 31, As at 2025 2025 Financial assets at fair value Cash and cash equivalents $ 2,954,703 $ 862,499 Financial assets at amortized cost Trade accounts, interest and other receivable 3,117,566 2,567,449 Financial liabilities at amortized cost Accounts payable and accrued liabilities $ (2,775,603) $ (2,824,315) Lease liabilities - (49,766) Holdbacks payable (10,203) (10,203) $ 3,286,463 $ 545,664 The Company considers that the carrying amount of all its financial assets and liabilities recognized at amortized cost in the consolidated financial statements approximates their fair value due to the demand nature or short-term maturity of these instruments. The Company’s cash and cash equivalent is valued using level one inputs. The Company is exposed in varying degrees to a variety of financial instrument-related risks. The Board approves and monitors the risk management processes. The type of risk exposure and the way in which such exposure is managed is provided as follows: Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. The Company’s primary exposure to credit risk is on its cash and cash equivalents and accounts receivable. Credit risk is managed by using major banks that are high-credit-quality financial institutions, as determined by rating agencies. As at December 31, 2025, two customers had an outstanding balance exceeding 10% of the Company’s trade accounts receivable, representing 46% of total trade accounts receivable (Customer A – 36%; Customer B – 11%). Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 26 15. Financial instruments (continued) As at March 31, 2025, there were two customers with amounts outstanding that exceed 10% of the Company’s trade accounts receivable, that totaled 57% in aggregate (Customer A – 44%; Customer B – 13%). The Company assessed credit risk as low. 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’s liquidity and operating results may be adversely affected if its access to the capital markets is hindered. As at December 31, 2025, the Company had sufficient cash to meet its current liabilities, following the completion of private placements during the period for gross proceeds of $844,835 in April 2025 and $3,750,000 in October 2025. However, the Company remains dependent on ongoing operating cash flows and continued access to capital markets to fund its operations and execute its growth strategy. Foreign exchange risk Foreign exchange risk is the risk that the Company’s financial instruments will fluctuate in value as a result of movements in foreign exchange rates. The Company is not exposed to significant foreign exchange risk. Interest rate risk Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is --- not exposed to significant interest rate risk. 16. Segmented reporting The Company operates in a single segment, the sale of EV charging equipment, software, services and maintenance contracts. During the nine months ended December 31, 2025, the Company recognized 36% of its revenue from 3 customers (Customer A - 14%, Customer B – 12%; Customer C – 11%). During the nine months ended December 31, 2024, the Company recognized 69% of its revenue from two customers (Customer A – 57%; Customer B – 12%). The Company’s right-of-use assets are located in Canada. As of December 31, 2025, the Company had property and equipment of $116,940 in Canada and $14,641 in the United States. As of December 31, 2024, the Company had property and equipment of $192,694 in Canada and $11,042 in the United States. All of the Company’s customers are located within North America. During the nine months ended December 31, 2025, $9,628,582 of the revenue was incurred in Canada (2024 - $7,189,218) and $29,562 of the revenue was incurred in the United States (2024 – $66,425). 17. Revenue Three months ended Three months ended December 31, 2025 December 31, 2024 EV charging equipment $ 1,400,426 $ 4,783,947 Installation 653,183 22,942 SaaS 116,676 59,244 CaaS 1,317 - Other 409,344 112,818 $ 2,580,946 $ 4,978,951 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 27 Nine months ended Nine months ended December 31, 2025 December 31, 2024 EV charging equipment $ 7,408,458 $ 6,829,326 Installation 1,337,502 40,794 SaaS 313,113 164,560 CaaS 1,756 - Other 597,315 220,963 $ 9,658,144 $ 7,255,643 18. Cost of sales Three months ended Three months ended December 31, 2025 December 31, 2024 EV charging equipment $ 877,715 $ 3,846,988 Installation 746,054 8,992 SaaS 38,171 24,476 CaaS 746 0 Other 52,537 29,571 $ 1,715,223 $ 3,910,027 Nine months ended Nine months ended December 31, 2025 December 31, 2024 EV charging equipment $ 5,864,396 $ 5,271,967 Installation 1,025,069 20,651 SaaS 102,917 93,377 CaaS 934 - Other 101,191 134,115 $ 7,094,507 $ 5,520,110 19. Operating expenses Three months ended Three months ended Nine months ended Nine months ended General and administrative December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Consulting and professional fees $ 295,239 $ 339,111 $ 619,867 $ 1,175,597 Wages and benefits 215,182 80,251 557,091 460,972 Share-based payments 42,935 107,520 130,180 437,396 Office and administration 56,523 240,268 533,230 789,649 Depreciation and amortization 20,799 68,446 112,232 214,052 $ 630,678 $ 835,596 $ 1,952,600 $ 3,077,666 Hypercharge Networks Corp. Notes to the Condensed Consolidated Interim Financial Statements For the nine months ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) 28 Three months ended Three months ended Nine months ended Nine months ended Sales and marketing December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Wages and benefits $ 515,702 $ 282,657 $ 1,213,176 $ 846,292 Consulting and professional fees 41,013 (102,722) 55,932 37,175 Advertising and promotional 28,098 117,650 79,914 220,435 Shipping (57,277) 25,946 - 45,418 Share-based payments 24,641 - 24,641 - $ 552,177 $ 323,531 $ 1,373,663 $ 1,149,320 Three months ended Three months ended Nine months ended Nine months ended Research and development December 31, 2025 Decembe --- r 31, 2024 December 31, 2025 December 31, 2024 Wages and benefits $ 157,779 $ 194,651 $ 490,993 $ 485,175 Consulting and professional fees 35,874 44,960 100,610 142,298 Product Design 13,787 - 20,068 - Share-based payments (11,413) - (11,413) - $ 196,027 $ 239,611 $ 600,258 $ 627,473 20. Subsequent events On January 12, 2026, the Company granted 500,000 stock options to a consultant. The options are exercisable at a price of $0.10 per common share, expire on January 12, 2029, and vest 25% every six months. On February 4, 2026, the Company granted 250,000 stock options to an employee. The options are exercisable at a price of $0.08 per common share, expire on February 4, 2031, and vest 25% every six months.