Mr. Francis Letourneau reports

NURAN WIRELESS REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS

Nuran Wireless Inc. has released its financial results for the quarter ended Sept. 30, 2025.

Highlights of the company's financial results for the nine months ended Sept. 30, 2025, include the following:

• Revenue of $3,548,865, compared with $3,688,827 for the nine months ended Sept. 30, 2024, a decrease of 3.7 per cent. This includes $2,334,908 attributable to the network-as-a-service (NaaS) revenue generating gross margin of 80 per cent;
• Gross profit of $2,189,662 (62 per cent) for the nine months ended Sept. 30, 2025, compared with $2,028,747 (55 per cent) in 2024, an increase of $160,915 or 8 per cent;
• Total expenses of $10,129,106, compared with $11,135,470 for the nine months ended Sept. 30, 2024, a decrease of 9 per cent. Savings in selling and administrative expenses were offset by increased financial expenses related to debt service costs of short-term borrowings and the Cygnum Capital facility, as well as foreign exchange losses with most of these charges being non-cash;
• Net loss of $8,424,579, compared with $8,131,565 for the nine months ended Sept. 30, 2024, an increase of 3.6 per cent.

Highlights from the quarter:

• On July 18, 2025, Nuran announced that it has initiated negotiations with its current debtholders and with new potential institutional investors and lenders to raise additional operating funds. The plan is to potentially restructure or replace much of its outstanding current debt instruments with better terms.
• On Aug. 26, 2025, the company announced that it completed an initial step toward this objective by closing a non-brokered private placement for proceeds of $1.5-million to be used for working capital purposes and payment of short-term debt. The common shares issued under the private placement are subject to a statutory hold period expiring Dec. 26, 2025. The company has decided to close this private placement currently to ensure that it has sufficient working capital for the duration of the discussions.
• On Sept. 4, 2025, the company announced the award of a contract worth approximately $7.2-million (Canadian) by a state-owned mobile network operator (MNO) for a major network expansion project in a rural region of West Africa. The agreement is structured as a capex contract valued at approximately $7.2-million (Canadian) and provides for the deployment of up to 200 sites to expand mobile coverage to underserved communities.
• On Sept. 12, 2025, the company announced it has received authorization from the approval committee for its infrastructure licence to operate telecom sites in the Democratic Republic of the Congo (DRC). The authorization was confirmed through the issuance of the licence fee invoice, which has now been settled.
• On Sept. 29, 2025, the company announced that it has received approval for the third drawdown of $1-million (U.S.) from the Facility for Energy Inclusion (FEI), a fund managed by Cygnum Capital.

British Columbia Securities Commission (BCSC) continuous disclosure review

After the Sept. 26, 2025, announcement regarding Nuran's continuing disclosure deficiencies, management worked diligently with the BCSC to meet the requirements of National Instrument 51-102, Continuous Disclosure Obligations, among others. The company is pleased to announce that on Dec. 1, 2025, it was removed from the default issuers list, following a thorough review by the BCSC. This review concluded with the filing of Q3 (third quarter) financial statements and management's discussion and analysis (MD&A), as well as an amended MD&A for the six months ending June 30, 2025. These MD&As now include essential additional disclosures required by National Instrument 51-102, including sections addressing topics such as the proposed restructuring transaction, international tariffs and their potential effects, material contracts and related financial impacts, changes to future-oriented financial information (FOFI) and promotional statements, along with expanded financial details and clarified risk factors. The company has filed all mandatory documentation pertaining to changes considered to be material.

Proposed restructuring transaction

Approved during the recent annual general and special meeting (AGSM) concluded on Oct. 29, 2025, the company is now pursuing the restructuring transaction. Management shall inform its shareholders on the upcoming steps.

About Nuran Wireless Inc.

Nuran Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G and 4G technologies, Nuran Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably -- bridging the digital divide, one connection at a time.

We seek Safe Harbor.