KITS Co-Founder Joseph Thompson Transitions to Advisory Role as Company Surpasses Annualized Revenue Run Rate of $250 Million

VANCOUVER, BC, Oct. 15, 2026 /CNW/ -- Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company"), a leading vertically integrated eyecare provider, today announced that co-founder Joseph Thompson has transitioned from Chief Operating Officer to an advisory role with the Company.

"When Joe and I first sat down over coffee at Kits Beach to talk about building a business together, it was just the two of us as co-founders and an idea. Over the past eight years, we've grown to more than 200 teammates. That team has delivered more than 5 million orders, now serves more than 1.1 million active customers and has surpassed a $250 million annualized revenue run rate," said Roger Hardy, Co-Founder, Chairman and CEO. "We've built this together since day one, and I'll miss working alongside him. Joe built the operation behind KITS and the team that runs it, and he did it the hard way, around the clock, one customer at a time. He's earned the chance to build what's next, and I'm excited for him."

"Building KITS has been the highlight of my career, and having the opportunity to build it alongside Roger has been an extraordinary privilege," said Joseph Thompson, Co-Founder of KITS. "What began as an idea between the two of us has become something far bigger than either of us could have imagined. I'm proud of the exceptional team we've assembled, the business we've built together, and the opportunity ahead of us to fundamentally change eyecare for the better. I believe the best chapters of KITS are still to come."

"Succession planning has been a priority for the Board, and this transition reflects that approach," said Nick Bozikis, CPA, CA, Lead Independent Director of KITS. "Since KITS' inception, Roger and Joe have deliberately prepared the Company for this stage. Gradually transitioning from a founder-led operating team to a dedicated leadership team comprised of experienced professionals is a natural step for a business of KITS' size, and the Board has full confidence in the team now leading it."

Roger Hardy continues as Co-Founder, Chairman and Chief Executive Officer, leading the Company's strategy, capital allocation, capital markets and long-term vision. Tai Silvey, President, leads the Company's operations. Mr. Silvey joined KITS in January 2022 as Senior Vice President, Operations, and later served as Chief Business Development Officer before his appointment as President in April 2026. Ibrahim Kamar, Chief Financial Officer, leads finance. Mr. Kamar joined KITS in April 2024 as Senior Vice President, Finance, and was appointed Chief Financial Officer in April 2026, bringing 18 years of financial leadership in optical, including serving as Chief Financial Officer of Clearly (formerly Coastal Contacts).

About KITS

KITS (TSX: KITS) is one of the world's fastest-growing eyecare providers, offering high-quality, affordable prescription glasses and contact lenses through its vertically integrated digital platform. With advanced in-house lens manufacturing, an industry-leading digital fit experience powered by OpticianAI, and thousands of 5-star customer reviews, KITS is redefining how North Americans experience eyecare. Designed in Canada. Delivered worldwide. For more information on KITS, visit www.kits.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements relating to the execution of our proposed strategy, our operating performance and prospects for the business. These forward-looking statements generally can be identified by the use of words such as "intend," "believe," "could," "continue," "expect," "estimate," "forecast," "may," "potential," "project," "plan," "would," "will," and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such a statement. Our business is subject to substantial risks and uncertainties. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions have been made in respect of the expansion and enhancement of our fulfillment network, including our optical laboratory for glasses and warehouse facilities; the growth of our business and launch of new technologies; premium lens adoption and smart eyewear expansion; our ability to drive sales growth; our ability to maintain, enhance, and grow within our addressable market; our ability to drive ongoing development and innovation of our exclusive brands and product categories; our ability to continue directly sourcing from third-party suppliers and manufacturers; our ability to retain key personnel; our ability to add, maintain and expand production, distribution and fulfillment capabilities; our ability to continue investing in infrastructure to support our growth; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; the impact of tariffs and U.S. and international trade actions, policies and reform; and the changes in laws, rules, regulations, and global standards. KITS' risks and uncertainties are discussed in detail in the Company's Annual Information Form, filed on SEDAR+ on March 4, 2026. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements, except as required under applicable securities laws. If we do update certain forward-looking information, no inference should be made that we will further update such or other forward-looking information.

SOURCE KITS Eyecare Ltd.

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