1 Top Management; 2 Peer Comparison & Ranking of BB; 3 Patents; 4 Currency Synopsis: Canadian Dollar (CAD) Top Management Top Management Name Designation John J. Giamatteo Chief Executive Officer Richard Lynch Chairman Richard J. Lynch Independent Chairman Tim Foote Chief Financial Officer, Executive Director Jennifer Armstrong-Owen Senior Vice President Phil Kurtz Corporate Secretary Fraser Deziel Corporate Secretary Peer Comparison & Ranking of BB PEER COMPARISON: BB IN INDICES BlackBerry is a constituent of the following indices. Its market capitalisation is $3 billion and accounts for 0.1% of the combined MCap of the S&P/TSX 60 Index. Index Name MCap of Index ($ b) BB MCap as % of Index S&P/TSX 60 Index 2,095 0.1 S&P/TSX Composite Index 2,818 0.1 BUYSELLSIGNALS FUNDAMENTALS VALUATION RANKING: BlackBerry vs Canadian Market Out of 978 stocks and 23 units in the Canadian Market, BlackBerry is ranked 142nd(142) by Market Cap in $, 212th(212) by Revenue, 427th(427) by Free Cash Flow and 474th(474) by Discount to 52-Wk High. Canadian Avg BB BB Rank Market Cap $ 4.3 B 2.7 B 142 Revenue $ 2.1 B 534.9 M 212 Free Cash Flow (97.4 M) 13.3 M 427 Discount to 52-Wk High (%) 3.1 28.7 474 Price/Net Tangible Assets 2.4x 15.1x 559 EBITDA Margin% 18.7 4.9 653 Premium to 52-Wk Low (%) 28.6 102.6 735 Net Profit $ 151.2 M (79 M) 2412 Negative values are shown in brackets. Stock in Index and Stock in Sector Description BB S&P/TSX 60 Index % of S&P/TSX 60 Index Communication equipment sector % of Communication equipment sector Net Profit $ -56,377,797 91.5 B -0.1 -35,662,646 158.1 Revenue $ 381.7 M 639.4 B 0.1 2 B 19.5 Total Assets $ 924.6 M 8,121.2 B 0.01 3.3 B 28.0 MCap $ 2.7 B 2,095.1 B 0.1 5.9 B 45.3 Relative Valuation Indicators: Stock vs Index and Stock vs Sector Description BB S&P/TSX 60 Index Avg. Communication equipment sector Avg. Price/Earnings -34.7 22.8 -109.1 Price/Net Tangible Assets 15.07 3.65 14.9 MARKET SHARE BlackBerry vs Communication Equipment sector [Communication Equipment sector Total in Brackets] Revenue of $749.5 million[47.2% of aggregate sector revenue of CAD2.7 billion; down from 59.0% in the previous year.] GLOBAL RANK [out of 46,227 stocks] AND RANK OF BLACKBERRY IN THE AMERICAN REGION [out of 9,417 stocks] Description Value Global Rank In Am Region MCap ($) 2.7B 5,241 1,799 Total Assets ($) 1.3B 9,427 2,866 Revenue ($) 534.9M 9,871 2,654 Net Profit ($) (79M) 39,837 6,472 Return on Equity % (1.2) 28,924 3,944 Net Profit Margin % (1.6) 28,585 3,637 Price to Book 92.0 34,495 4,968 PV1000 (1Year) $* 1,725 4,950 897 $* Change (1Year) % 65.8 3,666 590 * 1 year ago CAD 1 = $ 0.72 Oct 22, 2025: CAD 1 equals $ 0.71 RANK OF BLACKBERRY IN THE S&P/TSX 60 INDEX [out of 49 stocks], IN THE CANADIAN MARKET [out of 1170 stocks] AND IN THE COMMUNICATION EQUIPMENT SECTOR [out of 13 stocks] Description Value In S&P/TSX 60 Index In Canadian Market In Communication equipment sector MCap (CAD) 3.8B 49 181 1 Total Assets (CAD) 1.8B 48 404 1 Revenue (CAD) 749.5M 46 388 1 Net Profit (CAD) (110.7M) 46 1,543 15 Return on Equity % (1.2) 46 703 7 Net Profit Margin % (1.6) 45 666 6 Price to Book 15.1 34 1,090 9 PV1000 (1Year) CAD 1,746 4 268 2 LONG-TERM FUNDAMENTAL RANKING: 3 OUT OF 5 [5 is best] BlackBerry is ranked number 1 out of 19 listed communication equipment companies in the Canada with a market capitalization of CAD3.8 billion ($2.7 billion). Within its sector it has a relatively moderate Price/Sales of 5. Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1. Patents Number of Patents Issued to BlackBerry by the US Patent Office and the European Patent Office A total of 3,945 patents were issued to BlackBerry in the last eleven years. In the past year 127 patents were issued, 0.4 times average of 359 patents per year. 12 months ended Oct 22 No. of Patents Issued 2025 127 2024 313 2023 243 2022 217 2021 312 2020 394 2019 355 2018 504 2017 634 2016 643 2015 203 Total 3,945 Rank by patents issued in the past 12 months: BlackBerry vs CANADA stocks BlackBerry is ranked 2 by patents issued in the past year out of 2,440 Canada listed companies. A total of 1,635 patents were issued to Canada listed companies in the past year, an average of 14.7 patents per company. BlackBerry received 240 patents in the past 12 months, 358 times average. Currency Synopsis: Canadian Dollar (CAD) % Change of CAD vs Currency Basket Period-Based In the past year the Canadian Dollar fell 1.4% against the US Dollars; in the past three years the Canadian Dollar fell 1.5% against the US Dollars. Last Country 1-day % 1-week % 1-Year % 3-Yrs % CAD1=0.713USD United States Of America 0.1 0.1 -1.4 -1.5 CAD1=5.08CNY China 0.2 0.1 -1.4 -3.2 CAD1=108.246JPY Japan 0.1 0.4 -0.8 -1.4 CAD1=0.615EUR European Union 0.4 0.4 -7.9 -17.3 CAD1=1,020.775KRW South Korea 0.2 0.7 2.4 -2.2 CAD1=0.926SGD Singapore 0.3 0.3 -2.6 -10.5 CAD1=1.242NZD New Zealand -0.1 -0.1 4.0 -3.1 CAD1=0.535GBP United Kingdom 0.7 0.4 -3.9 -17.6 CAD1=1.099AUD Australia 0.3 0.6 1.7 -5.0 CAD1=5.54HKD Hong Kong 0.1 - -1.5 -2.6 CAD1=0.568CHF Switzerland 0.4 -0.4 -9.3 -22.4 CAD1=6.729SEK Sweden 0.4 -0.4 -11.7 -18.0 CAD1=7.166NOK Norway 0.2 -0.3 -9.2 -7.2 CAD1=13.114MXN Mexico - -0.3 -9.1 -9.7 1 Tax; 2 Financials as Reported FY 2025, Past 10 Years Tax Average Income Tax Paid (Past 4 Years) In the past 4 years, Income Tax as % of sales increased from 1.0% to 3.2%. Description 2025 2024 2023 2022 As % of sales 3.2 3.2 2.1 1 Financials as Reported FY 2025, Past 10 Years Financials as reported (FY 2025 [year-ended 28 February 2025 ]) RESULTS OF OPERATIONS AND FINANCIAL CONDITION (In $ Million, except per share data and shares outstanding) INCOME STATEMENT AS REPORTED (FY 2025 [year-ended 28 February 2025 ]) Description $ Million $ Million Feb 28, 2025 Feb 29, 2024 Change % Revenue 534.9 759.1 Down 29.5 Cost of sales 140 268.4 Down 47.8 Gross margin 394.9 490.7 Down 19.5 Operating expenses Research and development 108.8 127.1 Down 14.4 Sales and marketing 95.5 104 Down 8.2 General and administrative 159.7 187.2 Down 14.7 Amortization 17.7 26.7 Down 33.7 Impairment of goodwill 15.9 Impairment of long-lived assets 9.6 15.3 Down 37.3 Gain on sale of property plant and equipment net Prior Debentures fair value adjustment 3.5 Litigation settlements 2.8 394.1 479.7 Down 17.8 Operating income (loss) 0.8 11 Down 92.7 Investment income net 7.7 18.8 Down 59.0 Income (loss) before income taxes 8.5 29.8 Down 71.5 Provision for income taxes 17 24.2 Down 29.8 Income (loss) from continuing operations -8.5 5.6 Deterioration Gain from disposal of discontinued operation net of tax 10.2 Loss from discontinued operations net of tax -80.7 -135.8 Improved 40.6 Net loss -79 -130.2 Reduced 39.3 Earnings (loss) per share Basic earnings (loss) per share from continuing operations -1.0c 1.0c Deterioration Total basic loss per share -13.0c -22.0c Reduced 40.9 Diluted earnings (loss) per share from continuing operations -1.0c 1.0c Deterioration Total diluted loss per share -13.0c -22.0c Improved 40.9 Weighted average number of ordinary share Basic 591,470,000 584,543,000 Up 1.2 Weighted average number of ordinary share Diluted 591,470,000 592,497,000 Down 0.2 BALANCE SHEET AS REPORTED (FY 2025 [year-ended 28 February 2025 ]) Description $ Million $ Million Feb 28, 2025 Feb 29, 2024 Change % Assets Current Cash and cash equivalents 266.7 175.1 Up 52.3 Short-term investments 71.1 62 Up 14.7 Accounts receivable net of allowance of 6.6 and 6.0 respectively 173.7 198.7 Down 12.6 Other receivables 48.4 21.4 Up 126.2 Income taxes receivable 1.6 3.6 Down 55.6 Other current assets 30 35.1 Down 14.5 Assets held for sale current 11.6 591.5 507.5 Up 16.6 Restricted cash and cash equivalents 13.6 25.4 Down 46.5 Long-term investments 58.9 35.7 Up 65.0 Other long-term assets 76.5 54.8 Up 39.6 Operating lease right-of-use assets net 22 31.8 Down 30.8 Property plant and equipment net 13.4 21.2 Down 36.8 Intangible assets net 47.3 57.5 Down 17.7 Goodwill 472.4 474.5 Down 0.4 Assets held for sale non-current 186.6 1,295.6 1,395 Down 7.1 Liabilities Current Accounts payable 31.1 16.8 Up 85.1 Accrued liabilities 126.2 113.7 Up 11.0 Income taxes payable 25.5 28.4 Down 10.2 Deferred revenue current 161.5 148.7 Up 8.6 Liabilities held for sale current 49.3 344.3 356.9 Down 3.5 Deferred revenue non-current 5.6 14.6 Down 61.6 Operating lease liabilities 28.7 37.8 Down 24.1 Other long-term liabilities 1.8 3.2 Down 43.8 Long-term notes 195.3 194.1 Up 0.6 Liabilities held for sale non-current 13.3 575.7 619.9 Down 7.1 Commitments and contingencies Shareholders' equity Capital stock and additional paid-in capital Preferred shares: authorized unlimited number of non-voting cumulative redeemable and retractable Common shares: authorized unlimited number of non-voting redeemable retractable Class A common shares and unlimited number of voting common shares Issued and outstanding - 596230655 voting common shares (February 29 2024 - 589232539) 2,976.4 2,947.7 Up 1.0 Deficit -2,237.3 -2,158.3 Deterioration 3.7 Accumulated other comprehensive loss -19.2 -14.3 Deterioration 34.3 719.9 775.1 Down 7.1 1,295.6 1,395 Down 7.1 CASH FLOW AS REPORTED (FY 2025 [year-ended 28 February 2025 ]) Description $ Million $ Million Feb 28, 2025 Feb 29, 2024 Change % Cash flows from operating activities Net loss -79 -130.2 Improved 39.3 Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Amortization 44.7 58.5 Down 23.6 Stock-based compensation 25.6 33.1 Down 22.7 Gain on disposal of discontinued operation -10.4 Impairment of goodwill 34.8 Impairment of long-lived assets 9.6 15.3 Down 37.3 Intellectual property disposed of by sale 147.2 Gain on sale of property plant and equipment net Prior Debentures fair value adjustment 3.5 Operating leases -10.8 -13.7 Improved 21.2 Other 2.3 2.3 Steady Net changes in working capital items Accounts receivable net of allowance 25 -78.8 Recovery Other receivables 11.7 -9.2 Recovery Income taxes receivable 2 -0.5 Recovery Other assets -16 -54.3 Improved 70.5 Accounts payable 14.2 -7.4 Recovery Accrued liabilities 6.4 -20.3 Recovery Income taxes payable -2.9 8.7 Deterioration Deferred revenue -5.9 7.5 Deterioration Net cash provided by (used in) operating activities 16.5 -3.5 Recovery Cash flows from investing activities Acquisition of long-term investments -16 Acquisition of property plant and equipment -3.1 -7.1 Improved 56.3 Proceeds on sale of property plant and equipment Acquisition of intangible assets -7 -13.8 Improved 49.3 Cash proceeds from disposal of discontinued operation 79.8 Acquisition of short-term investments -154.9 -154.4 Deterioration 0.3 Proceeds on sale or maturity of short-term investments 145.9 223.5 Down 34.7 Net cash provided by investing activities 60.7 46.6 Up 30.3 Cash flows from financing activities Issuance of common shares 3.1 5.9 Down 47.5 Payment of finance lease liability Maturities of 2020 Debentures and Extension Debentures -515 Proceed from Issuance of Extension Debentures and Notes 344 Net cash provided by (used in) financing activities 3.1 -165.1 Recovery Effect of foreign exchange loss on cash cash equivalents restricted cash and restricted cash equivalents -0.5 0.2 Deterioration Net increase (decrease) in cash cash equivalents restricted cash and restricted cash equivalents during the year 79.8 -121.8 Recovery Cash cash equivalents restricted cash and restricted cash equivalents beginning of year 200.5 322.3 Down 37.8 Cash cash equivalents restricted cash and restricted cash equivalents end of year 280.3 200.5 Up 39.8 Download BLACKBERRY Financials Past 10 Years Description Feb 25 Feb 24 Feb 23 Feb 22 Feb 21 Income Statement Revenue per share 0.9 1.28 1.03 1.14 EBITDA (M) 26.2 56.5 (624) 184 (931) Depreciation (M) 17.7 26.7 96 165 182 Tax (M) 17 24.2 14 7 (9) Net profit (79 M) (130.2 M) (734 M) 12 M (1.1 B) EPS (0.13) (0.22) (1.27) 0.02 (1.97) Balance Sheet Equity Share Capital 719.9 M 775.1 M 857 M 1.6 B 1.5 B Retained Earnings (B) (2.2) (2.2) (2) (1.3) (1.3) Total Assets (B) 1.3 1.4 1.7 2.6 2.8 Current Asset 591.5 M 507.5 M 743 M 1 B 1 B Fixed Asset (M) 13.4 21.2 25 41 48 Working Capital (M) 247.2 150.6 14 646 577 Cash Flow Operating Cash Flow (M) 16.5 (3.5) (263) (28) 82 Investing Cash Flow (M) 60.7 46.6 176 207 (65) Financing Cash Flow (M) 3.1 (165.1) 6 10 (227) Net Cash Flow (M) 80.3 (122) (81) 189 (210) Description Feb 20 Feb 19 Feb 18 Feb 17 Feb 16 Income Statement Revenue per share 1.85 1.47 1.71 4.1 EBITDA 46 M 213 M 559 M (1 B) (5 M) Depreciation (M) 194 136 153 186 277 Tax 4 M (16 M) 1 M (74 M) Net profit (152 M) 93 M 405 M (1.2 B) (208 M) EPS (0.27) 0.17 0.76 (2.3) (0.4) Balance Sheet Equity Share Capital (B) 2.5 2.6 2.5 2.1 3.2 Retained Earnings (M) (198) (32) (55) (438) 768 Total Debt 606 M 782 M 591 M 1.3 B Total Assets (B) 3.9 4 3.8 3.3 5.5 Current Asset (B) 1.2 1.2 2.5 1.7 3 Fixed Asset (M) 70 85 64 91 412 Working Capital 75 M 723 M 2.1 B 1.1 B 2 B Cash Flow Operating Cash Flow (M) 26 100 704 (224) 257 Investing Cash Flow (M) (188) (375) (630) 724 (439) Financing Cash Flow (M) 7 5 (10) (722) (78) Net Cash Flow (M) (155) (270) 64 (222) (260)