Mr. G.W.J. Pottow reports

THE BECKER MILK COMPANY LIMITED: SIX MONTH FINANCIAL RESULTS

The Becker Milk Company Ltd. has released the results for the six months ended Oct. 31, 2025.

Highlights:

• Total revenues for the six months ended Oct. 31, 2025, were $1,428,054, compared with $1,451,462 for the same period in 2024.
• The year-to-date net operating income (a non-GAAP (generally accepted accounting principles) financial measure) for Q2 fiscal 2026 was $1,137,175, compared with $1,191,698 in fiscal 2025.
• The year-to-date net income for Q2 fiscal 2026 was 39 cents per share, compared with net income of 78 cents per share in Q2 fiscal 2025.

Financial highlights

Total revenues for the six months ended Oct. 31, 2025, fell $23,408 compared with the six months ended Oct. 31, 2024, a result of reduced finance income.

Components of the $695,792 decrease in net income for the six months ended Oct. 31, 2025, compared with the six months ended Oct. 31, 2024, are as follows.

Investment property capitalization rates were unchanged during the six months ended Oct. 31, 2025. Compared with the six months ended Oct. 31, 2024, there was a $1,019,292 unfavourable change in the fair-value adjustment to investment properties.

Strategic review

The board of directors continually evaluates strategic directions for the company. Although the company has previously engaged in discussions with potential acquirers, none of those discussions are active currently. The company continues to review its strategic alternatives and will update the market as appropriate and as required.

The company's interim financial statements for the six months ended Oct. 31, 2025, along with the management discussion and analysis, will be filed with SEDAR+.