Pioneering Technology Reports 2026 Q1 Financial Results

(TheNewswire)

Mississauga, ON (March 2,
2025) – TheNewswire – Pioneering Technology
Corp. (TSXV: PTE) (“Pioneering” or the
“Company”), a technology company and North
America’s leader in cooking fire prevention technology and
products reports its audited financial results for the first
quarter ended December
31, 2025. Pioneering’s unaudited condensed interim consolidated
financial statements and MD&A are available on SEDAR+ (www.sedarplus.ca)

Financial Highlights:

• RevenueinQ1was$461,135versus$713,485for
  the same period a year ago. 

• Gross margin in Q1 was 48% ($221,556) versus 52% ($372,302) in Q1
  2025. 

• ExpensesinQ1were$378,429,adecreaseof2.9%versusQ1 2025
  expenses of $389,428.  

• Net lossforthe quarterwas
  ($166,779)versusalossof ($26,215)
  inQ12025. 

• Adjusted EBITDA was a loss of ($137,239) in Q1 2025 versus a profit of
  $35,801 in Q1 2025.  

• Current assets of $1.7 million and $0.7 million in working capital. 

Selected Financial Highlights for the
First Quarter ended December 31, 2025 and 2024

¹ Adjusted EBITDA are non-IFRS measures and may
not be comparable to similar financial measures   disclosed by other
issuers. Please refer to “Non-IFRS Measures” at end of this press release.

Pioneering CEO Kevin Callahan said of the results, “Over the past twelve months, the Company has focused on sales
pipeline development, business development and new market
opportunities. These activities have not yet translated to increased
revenue. However, the Company believes that these activities will
deliver growth via improved sales results, margins and future revenue
in fiscal 2026 and going forward”.

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About Pioneering Technology
Corp: Pioneering, based in Mississauga, Ontario is an
“energy smart” technology company and North America’s
leader in innovative cooking fire prevention technologies and
products. Our mission is simple: To help protect
people and property from the number one cause of household fire –
cooking fires. We do this by engineering and bringing to market
energy-smart solutions that make consumer appliances safer, smarter,
and more efficient. Our patented cooking-fire prevention products
address the multi-billion-dollar problem of cooking fires. According
to the National Fire Protection Association, stovetop cooking is the
number 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-residential
housing units across North America without a single cooking fire,
delivering peace of mind and a solid return on investment for its
customers. Pioneering’s proprietary cooking fire prevention
solutions include SmartElement, SmartBurner, SmartRange, SmartMicro,
and are suitable for the majority of the more than 140 million
stoves/ranges and over 140 million microwave ovens in use throughout
North America. For more info, go to www.pioneeringtech.com.

For more information please contact:

Kevin Callahan , CEO

Phone: 647-945-7515

Email: kcallahan@pioneeringtech.com

Forward Looking Statements

The statements made in this press release include forward-looking statements that involve a number of risks and
uncertainties. These statements relate to future events or future
performance and reflect management’s current expectations and assumptions. A number of factors
could cause actual events, performance or results to differ materially from the events, performance and results
discussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s target
markets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology and governmental
regulation and the impact of US tariffs .
These forward- looking statements are made as of the date hereof and,
except as required by applicable law, Pioneering
does not assume any obligation to update or revise them to reflect
new events or circumstances. Actual events or
results could differ materially from Pioneering’s expectations
and projections.

Non-IFRS Measures

Adjusted EBITDA is
a 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 as
reported 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, impairment
losses, stock-based compensation, restructuring costs included in general and administration expense, fair value
movement – derivative liability and other non-recurring gains or losses including transaction costs related to acquisition. Management
believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted
EBITDA does not have
any standard meanings prescribed by IFRS and therefore, may not be
comparable to similar measures presented by other issuers. Readers are
cautioned that Adjusted EBITDA is not
an alternative to
measures determined in accordance with IFRS and should not, on its own, be construed as indicators of
performance, cash flow or profitability. References to Pioneering’s
Adjusted EBITDA should be read in conjunction
with the financial statements and management’s discussion and
analysis 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’s
discussion and analysis.

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

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