Mr. Joo-Hun Kim reports

THINKIFIC ANNOUNCES CLOSING OF SECONDARY OFFERING OF APPROXIMATELY C$14.5 MILLION OF RHINO GROUP'S SHARES

The previously announced secondary bought deal offering of common shares of Thinkific Labs Inc. has closed; the shares were held by the Rhino Group, through Rhino Co-Invest 1 LP, Vancouver Founder Fund (VCC) Inc., Vancouver Founder Fund LP and VFF II LP (collectively, Rhino Group). Pursuant to the secondary offering, Rhino Group sold an aggregate of 6,444,445 common shares at a price of $2.25 per offered share for aggregate gross proceeds to the Rhino Group of $14,500,001.25. The secondary offering included 666,665 offered shares sold pursuant to the partial exercise by the underwriters' (as defined below) of the overallotment option granted to the underwriters pursuant to an underwriting agreement dated June 10, 2025, among Thinkific, the Rhino Group and a syndicate of underwriters led by Cormark Securities Inc. and CIBC Capital Markets as co-lead underwriters and joint bookrunners.

The net proceeds of the secondary offering were paid directly to the Rhino Group. The company did not receive any proceeds from the secondary offering.

The secondary offering was made by way of a prospectus supplement dated June 10, 2025, to the company's short form base shelf prospectus dated Nov. 14, 2023, and offered by way of private placement to qualified institutional buyers and accredited investors in the United States. The offered shares were offered and, as applicable, sold in each of the provinces and territories of Canada, except Quebec, pursuant to a prospectus supplement filed in each of the provinces and territories of Canada.

As part of the secondary offering, the Rhino Group has agreed to be locked up from selling any further securities of Thinkific for six months from closing and the Chief Executive officer of Thinkific and certain holders of more than 10% of the company's common shares have agreed to be locked up from selling any securities of Thinkific for three months from closing.

The 6,444,445 offered shares sold by the Rhino Group in the secondary offering represented approximately 9.47 per cent of the issued and outstanding common shares on a non-diluted basis. Prior to the secondary offering, the Rhino Group beneficially owned an aggregate of 16,279,078 common shares, representing approximately 23.92 per cent of the issued and outstanding common shares. Immediately following the closing of the secondary offering, the Rhino Group, in the aggregate, beneficially owned 9,834,633 common shares, representing approximately 14.45 per cent of the outstanding common shares on a non-diluted basis.

About Thinkific Labs Inc.

Thinkific is an award-winning learning commerce platform where courses and community come together to power business growth. Thinkific gives academies, experts and businesses everything they need to create and sell on-line learning experiences, build communities and grow their revenue -- all from one platform. More than 35,000 customers -- including companies like GoDaddy, Nasdaq, ActiveCampaign and Datadog -- have generated billions in revenue using Thinkific, impacting more than 200 million people worldwide.

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