Pioneering Technology Reports 2026 Q2 Financial Results

Pioneering Technology Reports 2026 Q2 Financial Results

Mississauga, ON June 1,2026 –TheNewswire - PioneeringTechnology Corp. (TSXV:PTE) (“Pioneering” or the“Company”), a technology company and NorthAmerica’s leader in cooking fire prevention technology andproducts reports its unaudited financial results for the three and six months ended March 31, 2026. Pioneering’s unaudited condensed interim consolidatedfinancial statements and MD&A are available on SEDAR+ (www.sedarplus.ca)

RevenueinQ2was$565,410versus$407,148forthe same period a year ago.

Gross margin for the quarter was 47% ($266,776) versus 58% ($237,728)for the same period a year ago.

Expenses for the quarter decreased to $361,040 versus $490,491 for the same period a yearago, a decrease of $129,451 or 26%.

Net lossforthe quarterwas($105,398)versusalossof ($261,201)inQ22025.

Adjusted EBITDA was a loss of ($59,822) in Q2 2026 versus a loss of($214,066) in Q2 2025.

Revenue for the first six months of fiscal 2026was $1,026,545 versus was $1,120,633 in the same period in fiscal2025.

Gross margin for the first six months was 48% ($488,332) versus 54%($610,030) for the same period a year ago.

Expenses during the six month period decreasedto $739,468 versus $880,471 for the same perioda year ago.

Net lossforthe first six months was($272,178)versusalossof ($287,417) a year ago.

Adjusted EBITDA forthe first six months was aloss of ($195,732) versus ($216,968) a year ago.

Current assets of $1.6 million and $0.5 million in working capital.

Selected Financial Highlights for theSecond Quarter & Six-months Ended March 31, 2026& 2025:

Three Months Ended March 31,2026

Three Months Ended March 31,2025

¹ Adjusted EBITDA are non-IFRS measures and maynot be comparable to similar financial measures disclosed by otherissuers. Please refer to “Non-IFRS Measures” at end of this press release.

Pioneering CEO Kevin Callahan said of the results, “While we are notyet where we need to be, we believe our strategic plan is setting usup for future growth. The Companycontinues to reduce its costs by focusing all sales and businessdevelopment activities on those initiatives that are expected to helpdrive new and increased revenue going forward. TheCompany believes that these activities together with a focus on salespipeline development and new business development activities willdeliver growth via improved sales results, margins and future revenue.The Company remains focused on a return to profitability and committedto making our business successful for all stakeholders.”

About Pioneering TechnologyCorp: Pioneering, based in Mississauga, Ontario is an"energy smart" technology company and North America'sleader in innovative cooking fire prevention technologies andproducts. Our mission is simple: To help protectpeople and property from the number one cause of household fire –cooking fires. We do this by engineering and bringing to marketenergy-smart solutions that make consumer appliances safer, smarter,and more efficient. Our patented cooking-fire prevention productsaddress the multi-billion-dollar problem of cooking fires. Accordingto the National Fire Protection Association, stovetop cooking is thenumber one cause of household fire and fire injuries in North America. Pioneering’s temperature limiting control(TLC) technology is installed in over 450,000 multi-residentialhousing units across North America without a single cooking fire,delivering peace of mind and a solid return on investment for itscustomers. Pioneering’s proprietary cooking fire preventionsolutions include SmartElement, SmartBurner, SmartRange, SmartMicro,and are suitable for the majority of the more than 140 millionstoves/ranges and over 140 million microwave ovens in use throughoutNorth America. For more info, go to www.pioneeringtech.com.

For more information please contact:

Email: kcallahan@pioneeringtech.com

The statements made in this press release include forward-looking statements that involve a number of risks anduncertainties. These statements relate to future events or futureperformance and reflect management's current expectations and assumptions. A number of factorscould cause actual events, performance or results to differ materially from the events, performance and resultsdiscussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s targetmarkets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology and governmentalregulation and the impact of US tariffs .These forward- looking statements are made as of the date hereof and,except as required by applicable law, Pioneeringdoes not assume any obligation to update or revise them to reflectnew events or circumstances. Actual events orresults could differ materially from Pioneering’s expectationsand projections.

Adjusted EBITDA isa measure not recognized under International Financial Reporting Standards (“IFRS”). However, management of Pioneering believes that most shareholders, creditors, other stakeholders and investment analysts prefer to have these measures included asreported measures of operating performance, a proxy for cash flow, and to facilitate valuation analysis.Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, impairmentlosses, stock-based compensation, restructuring costs included in general and administration expense, fair valuemovement – derivative liability and other non-recurring gains or losses including transaction costs related to acquisition. Managementbelieves Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. AdjustedEBITDA does not haveany standard meanings prescribed by IFRS and therefore, may not becomparable to similar measures presented by other issuers. Readers arecautioned that Adjusted EBITDA is notan alternative tomeasures determined in accordance with IFRS and should not, on its own, be construed as indicators ofperformance, cash flow or profitability. References to Pioneering’sAdjusted EBITDA should be read in conjunctionwith the financial statements and management's discussion andanalysis of Pioneering posted on SEDAR (www.sedar.com). For a reconciliation of Adjusted EBITDA as presented by Pioneering to net income, please refer to Pioneering’s management’sdiscussion and analysis.

Neither the TSXV nor its RegulationServices Provider (as that term is defined under the policies of theTSXV) accepts responsibility forthe adequacy or accuracy of this release.

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