Holdings include 7.20 million Injective tokens, $5.00 million stablecoin holdings, and $15.79 million in cash

INJ protocol upgrade doubles the rate of token deflation, enhancing INJ as treasury asset

Toronto, Ontario--(Newsfile Corp. - February 12, 2026) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or "the Company"), a leading fintech platform, today provided an update on its Digital Asset Treasury ("DAT") holdings and launch of its real-time treasury dashboard.

As of the close of business on February 11, 2026, Pineapple's Digital Asset Treasury had an aggregate value of approximately $42.74 million, comprised of 7.2 million Injective ("INJ") tokens, $5.0 million stablecoin holdings, and $15.79 million in cash reserves. In addition, Pineapple launched a treasury dashboard on its website at https://pineappledigitalassets.com/dat-dashboard. This dashboard provides investors with a regularly updated view of essential metrics related to its DAT strategy, including real-time data on INJ market pricing, INJ and other holdings, the Company's estimated net asset value, mNAV, and market capitalization.

"Our Digital Asset Treasury is designed to work in concert with Pineapple's core mortgage platform and data initiatives to strengthen capital efficiency and earnings durability across the business. We remain focused on disciplined execution and responsible stewardship, with an emphasis on on-chain participation," said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial. "Launching our Digital Asset Treasury dashboard is an important step in our commitment to transparency and disciplined capital management. The dashboard gives investors clear, timely visibility into our digital asset holdings, valuation metrics, and treasury strategy, reinforcing our belief that transparency is critical as digital assets become an increasingly important component of modern corporate balance sheets."

In January 2026, the Injective Foundation introduced a protocol upgrade that doubled the rate of token deflation by increasing the pace at which network revenues are used to buy back and burn INJ tokens. This enhancement is expected to strengthen INJ's deflationary mechanics and further align network activity with long-term token scarcity. Pineapple believes this development enhances the structural characteristics of INJ as a treasury asset. As a result of this new protocol, Pineapple is now targeting an annual staking reward from its INJ holdings of 6.14%.

"The recent Injective protocol upgrade is an important positive development for Pineapple. By increasing the rate at which INJ tokens are removed from circulation, the upgrade strengthens the long-term supply dynamics of the network and supports token scarcity over time. We believe this makes INJ a more attractive and durable asset for our Digital Asset Treasury," continued Mr. Dasgupta.

Pineapple's Digital Asset Treasury program is supported by institutional-grade infrastructure and counterparties, including Kraken, FalconX, Innovating Capital, and other leading digital asset firms, as well as external asset managers Monarq Asset Management, led by Shiliang Tang, and Canary Capital, led by Steven McClurg. Together, these partners support staking operations, validator selection and delegation, treasury execution, and ongoing program oversight as the Company advances its INJ-focused treasury strategy.

About Pineapple Financial Inc.
Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, fluctuations in the market price of INJ, including risks related to volatility in the price of INJ, the timing and execution of Digital Asset Treasury capital deployment, the treatment of designated cash balances, and the assumptions underlying non-GAAP metrics such as mNAV, and any associated impairment charges that we may incur as a result of a decrease in the market price of INJ below the value at which INJ is carried on our balance sheet; changes in the accounting treatment relating to our INJ holdings; the Company's financial condition, customer acceptance of our INJ treasury strategy, and other factors discussed in the "Risk Factors" section of the registration statements, and periodic reports filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

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