Q2 Metals Balance Sheet

Financials in millions CAD. Fiscal year is March - February.

Millions CAD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Cash & Equivalents	22.39	12.39	5.87	12.01	0.95	0.04
Cash & Short-Term Investments	22.39	12.39	5.87	12.01	0.95	0.04
Cash Growth	240.71%	110.94%	-51.12%	1169.10%	2181.59%	302.52%
Other Receivables	0.89	0.27	0.72	0.09	0.07	0
Receivables	0.89	0.27	0.72	0.09	0.07	0
Prepaid Expenses	0.38	0.54	0.17	0.04	0.2	-
Total Current Assets	23.65	13.19	6.77	12.14	1.22	0.05
Property, Plant & Equipment	62.88	35.7	22.08	7.2	3.55	0.86
Other Long-Term Assets	0.02	0.02	0.02	0.02	0.02	0.01
Total Assets	86.55	48.91	28.86	19.36	4.78	0.91
Accounts Payable	3.46	1.76	2.08	0.29	0.05	0.16
Accrued Expenses	0.01	0.01	0	0.02	0.12	0.19
Short-Term Debt	-	-	-	0.03	0.03	0.01
Current Unearned Revenue	1.92	0.09	-	1.56	-	-
Total Current Liabilities	5.39	1.86	2.08	1.9	0.2	0.36
Long-Term Deferred Tax Liabilities	0.27	0.27	-	-	-	-
Total Liabilities	5.66	2.12	2.08	1.9	0.2	0.36
Common Stock	87.9	55.42	34.72	26.2	12.78	7.51
Retained Earnings	-17.77	-17.07	-11.62	-11.43	-9.54	-7.29
Comprehensive Income & Other	10.59	8.27	3.51	2.52	1.18	0.33
Total Common Equity	80.72	46.62	26.61	17.29	4.41	0.55
Minority Interest	0.17	0.17	0.17	0.17	0.17	-
Shareholders' Equity	80.89	46.79	26.78	17.46	4.58	0.55
Total Liabilities & Equity	86.55	48.91	28.86	19.36	4.78	0.91
Total Debt	-	-	-	0.03	0.03	0.01
Net Cash (Debt)	22.39	12.39	5.87	11.98	0.92	0.03
Net Cash Growth	240.71%	110.94%	-51.00%	1204.95%	2899.57%	9937.05%
Net Cash Per Share	0.14	0.11	0.07	0.27	0.07	0.01
Filing Date Shares Outstanding	194.46	164.21	109.44	83.35	40.35	4.98
Total Common Shares Outstanding	194.46	147.58	89.42	75.75	40.35	4.98
Working Capital	18.26	11.33	4.68	10.24	1.01	-0.32
Book Value Per Share	0.42	0.32	0.30	0.23	0.11	0.11
Tangible Book Value	80.72	46.62	26.61	17.29	4.41	0.55
Tangible Book Value Per Share	0.42	0.32	0.30	0.23	0.11	0.11

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.