Flow Capital (FW) investor relations material

Executive summary

• Revenue increased 21% year-over-year to CAD 3.5 million for Q1 2026, with continued positive free cash flow generation.

• Net income rose to $821,175 from $433,881, an 89% increase compared to the same quarter last year.

• Total investment assets grew 27% year-over-year to CAD 80.3 million.

• Book value per share increased 6% year-over-year to CAD 1.29.

• New investments reached CAD 6.5 million, up from CAD 3.2 million a year ago.

Financial highlights

• Recurring Free Cash Flow increased 4% to just under CAD 900,000, and per share rose 8% to CAD 0.03.

• Operating income before taxes was $1,032,756, up from $593,036 year-over-year.

• Earnings per share (diluted) increased to $0.0273 from $0.0138.

• Book value per share at CAD 1.29, up from CAD 1.22 a year ago and CAD 1.275 in December.

• Investment assets increased to CAD 80.3 million from CAD 63.4 million a year ago and CAD 73.5 million in December.

Outlook and guidance

• Growth expected to continue, though at a slower pace due to slower capital deployment.

• Management remains selective and disciplined in investment decisions.

• Pipeline of good deals is increasing as pricing pressures ease.

• Management highlighted ongoing revenue growth and consistent positive free cash flow, emphasizing a continued focus on expanding investment assets.

• Forward-looking statements caution that actual results may differ due to significant risks and uncertainties.