Mr. Elliott Etheredge reports

PUDO INC. REPORTS FY 2026 SECOND QUARTER END RESULTS

Pudo Inc. today filed interim financial results (unaudited) and operational highlights for its second quarter that ended Aug. 31, 2025 (Q2 (second quarter) FY (fiscal year) 2026).

"We continue to see strong growth in the business, with revenue increasing almost 63 per cent in the first six months of this year. We have been able to grow revenue while increasing our gross margins, resulting in a gross profit increase of more than 79 per cent" commented Elliott Etheredge, chief executive officer. "Furthermore, we continue to be excited about the network expansion that we accomplished in the U.S. during the last quarter. The addition of the Annex Brands and GoLocker partnerships position us well to continue growing revenue by expanding our geographic footprint."

Pudo continues to expand the availability and volume of its Pudo label return services. By increasing the number of retailers using the solution and partnering with additional SaaS (software-as-a-service) and 3PL (third party logistics) providers, the Pudo network is becoming an important part of the e-commerce returns solution. In Q2 FY 2026, returns accounted for 67.4 per cent of revenue, versus 53.1 per cent in Q2 FY 2025. The company continues to work with its partners to develop the U.S. network expansion this year to support the returns service along with Pudo's other services, including direct to PUDO and for pickup by either a shopper or a consolidated pickup for Pudo third party courier partners.

The company is currently working with its partners to develop the U.S. network expansion this year.

A complete copy of the interim consolidated financial statements and the management's discussion and analysis report for the three- and six-month periods ended Aug. 31, 2025, can be found on the Canadian Securities Exchange website and on SEDAR+.

About Pudo Inc.

Pudo is North America's only independent parcel pickup and drop-off counter network.

Pudo has created a network of more than 1,700 storefront partners known as Pudopoint Counters, strategically located very near to where people live, work and play.

Pudo partners with retailers and logistics providers to offer a last-mile pick-up and returns network for e-commerce shoppers that reduces cost, increases convenience and provides package security to the last-mile of package logistics.

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