Black Swan Graphene Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 20, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	59	27	23	23	-
Market Cap Growth	105.40%	20.00%	-0.86%	-	-
Enterprise Value	52	23	17	13	-
Last Close Price	1.11	0.72	0.60	0.64	-
PB Ratio	4.32	2.60	1.64	1.37	-
P/TBV Ratio	7.32	6.57	3.44	2.68	-
Net Debt / Equity Ratio	-0.53	-0.29	-0.38	-0.53	-0.35
Net Debt / EBITDA Ratio	1.36	1.26	1.79	3.14	3.03
Quick Ratio	22.49	13.24	51.65	14.14	49.38
Current Ratio	22.53	13.24	51.65	14.14	49.59
Return on Equity (ROE)	-51.62%	-27.96%	-39.82%	-55.27%	-
Return on Assets (ROA)	-30.45%	-16.86%	-15.67%	-14.97%	-
Return on Capital Employed (ROCE)	-45.80%	-31.90%	-28.40%	-22.50%	-13.80%
Earnings Yield	-11.02%	-12.50%	-26.89%	-37.20%	-
Buyback Yield / Dilution	-17.30%	-1.53%	-23.46%	-5215.15%	-

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