Pioneering Technology Reports 2025 Q1 Financial Results

Mississauga, ON (March 3, 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, 2024. Pioneering’s unaudited condensed interim consolidated financial statements and MD&A are available on SEDAR+ (www.sedarplus.ca)

Financial Highlights:

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

• Gross margin in Q1 was 52% ($372,302) versus 59% ($385,284) in Q1 2024. 

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

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

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

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

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

¹ Adjusted EBITDA is a 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, “The Company has successfully delivered positive Adjusted EBITDA in Q1. While we have work to do, we are pleased with our Q1 results and the progress we have made managing costs. We believe that our focus on leveraging our competitive advantages, optimizing our current strategic plan and working hard on a number of new initiatives is helping us to achieve broader customer reach and partnerships that will help drive profitability and future growth. We continue to be committed to making our business successful for all stakeholders.”

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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, governmental regulation and the impact of the COVID-19 pandemic. 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.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 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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