Pioneering Technology Reports 2025 Q1 Financial Results

(TheNewswire)

Mississauga, ON (March 3,202 5 ) – TheNewswire - Pioneering TechnologyCorp. ( TSXV: PTE ) (“ Pioneering ” or the “ Company ”), a technology company and NorthAmerica’s leader in cooking fire prevention technology andproducts reports its audited financial results for the firstquarter ended December31 , 20 24 . Pioneering’s unaudited condensed interim consolidatedfinancial statements and MD&A are available on SEDAR+ ( www.sedarplus.ca)

Financial Highlights:

• RevenueinQ1was$713,485versus$653,661forthe same period a year ago.

• Gross margin in Q1 was 52% ($372,302) versus 59% ($385,284) in Q12024.

• ExpensesinQ1were$389,979,adecreaseof35%versusQ1 2024 expenses of $598,605.

• Net lossforthe quarter was ( $26,215)versusalossof ( $221,936)inQ12024.

• Adjusted EBITDA improved with a gain of $35,801 in Q1 2025 versus aloss ($167,890) in Q1 2024.

• Current assets of $3 million ($0.5Mincash, and $2.0Minaccountsreceivableandinventory).

Selected Financial Highlights for theFirst Quarter ended December 31, 2024 and 2023

¹ Adjusted EBITDA is a non-IFRS measures and may not be comparable tosimilar 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, “The Company hassuccessfully delivered positive Adjusted EBITDA in Q1. While we havework to do, we are pleased with our Q1 results and the progress wehave made managing costs. We believe that our focus on leveraging ourcompetitive advantages, optimizing our current strategic plan andworking hard on a number of new initiatives is helping us to achievebroader customer reach and partnerships that will help driveprofitability and future growth. We continue to be committed to making our business successful for allstakeholders.”

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About Pioneering TechnologyCorp: Pioneering, based in Mississauga, Ontario is an"energy smart" technology company and North America's leaderin innovative cooking fire prevention technologies and products. Ourmission is simple: To help protect people andproperty from the number one cause of household fire – cookingfires. We do this by engineering and bringing to market energy-smartsolutions that make consumer appliances safer, smarter, and moreefficient. Our patented cooking-fire prevention products address themulti-billion-dollar problem of cooking fires. According to theNational Fire Protection Association, stovetop cooking is the numberone 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:

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 anduncertainties. These statements relate to future events or futureperformance and reflect management's currentexpectations and assumptions. A number of factors could cause actualevents, performance or results to differmaterially from the events, performance and results discussed in theforward-looking statements, such as the economy,generally, competition in Pioneering’s target markets, the demandfor Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology, governmental regulation and the impact of the COVID-19 pandemic. Theseforward-looking statements are made as of the date hereof and, exceptas required by applicable law, Pioneering doesnot assume any obligation to update or revise them to reflectnew events or circumstances. Actual events orresults could differ materially from Pioneering’s expectationsand 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 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. Management believes 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 to measures 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 and analysisof Pioneering posted on SEDAR+ (www.sedarplus.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 TSXV nor its RegulationServices Provider (as that term is defined under the policies of theTSXV) accepts responsibility for the adequacy or accuracy of this release.

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