Lumine Group Inc. Announces Results for the Three Months Ended March 31, 2026

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Lumine Group Inc.
Condensed Consolidated Interim Statements of Income
(In thousands of USD, except share and per share amounts. Due to rounding, numbers presented may not foot.)

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	Three months ended March 31,
		2026			2025

Revenue
License	$	11,373		$	12,327
Professional services		32,914			31,277
Hardware and other		3,853			9,070
Maintenance and other recurring		160,207			126,018
		208,347			178,692
Expenses
Staff		115,154			83,904
Hardware		1,994			4,659
Third party license, maintenance and professional services		13,482			11,203
Occupancy		946			996
Travel, telecommunications, supplies, software and equipment		10,134			9,022
Professional fees		4,200			3,840
Other, net		2,363			3,295
Depreciation		2,139			2,270
Amortization of intangible assets		31,084			26,014
		181,496			145,203

Reduction of gain on bargain purchase		804			—
Finance costs and other expenses		3,289			5,134
		4,093			5,134

Income before income taxes		22,758			28,355

Current income tax expense		7,377			14,570
Deferred income tax recovery		(3,626	)		(6,994	)
Income tax expense		3,751			7,576

Net income	$	19,007		$	20,779

Weighted average shares outstanding:
Basic and diluted		256,620,388			256,620,388

Earnings per share:
Basic and diluted	$	0.07		$	0.08

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Lumine Group Inc.
Condensed Consolidated Interim Statements of Comprehensive Income
(In thousands of USD. Due to rounding, numbers presented may not foot.)

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	Three months ended March 31,
		2026			2025

Net income	$	19,007		$	20,779

Items that are or may be reclassified subsequently to net income:

Foreign currency translation differences from foreign operations and other		(8,193	)		4,132

Other comprehensive (loss) income for the period, net of income tax		(8,193	)		4,132

Total comprehensive income for the period	$	10,814		$	24,911

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Lumine Group Inc.
Condensed Consolidated Interim Statement of Changes in Equity
(In thousands of USD. Due to rounding, numbers presented may not foot.)

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Three months ended March 31, 2026
	Capital stock		Contributed surplus		Accumulated other comprehensive income (loss)			Retained earnings		Total equity

Balance at January 1, 2026	$	490,669	$	185,142	$	8,042		$	135,289	$	819,142

Total comprehensive income for the period:
Net income		—		—		—			19,007		19,007

Other comprehensive loss:
Foreign currency translation differences from foreign operations and other		—		—		(8,193	)		—		(8,193	)
Total other comprehensive loss for the period		—		—		(8,193	)		—		(8,193	)

Total comprehensive (loss) income for the period		—		—		(8,193	)		19,007		10,814

Balance at March 31, 2026	$	490,669	$	185,142	$	(151	)	$	154,296	$	829,956

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Lumine Group Inc.
Condensed Consolidated Interim Statement of Changes in Equity
(In thousands of USD. Due to rounding, numbers presented may not foot.)

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Three months ended March 31, 2025
	Capital stock		Contributed surplus		Accumulated other comprehensive loss			Retained earnings		Total equity

Balance at January 1, 2025	$	490,669	$	185,142	$	(13,612	)	$	16,523	$	678,722

Total comprehensive income (loss) for the period:
Net (loss) income		—		—		—			20,779		20,779

Other comprehensive income:
Foreign currency translation differences from foreign operations and other		—		—		4,132			—		4,132
Total other comprehensive income for the period		—		—		4,132			—		4,132

Total comprehensive income for the period		—		—		4,132			20,779		24,911

Balance at March 31, 2025	$	490,669	$	185,142	$	(9,480	)	$	37,302	$	703,633

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Lumine Group Inc.
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of USD. Due to rounding, numbers presented may not foot.)

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	Three months ended March 31,
		2026			2025

Cash flows from operating activities:
Net income	$	19,007		$	20,779
Adjustments for:
Depreciation		2,139			2,310
Amortization of intangible assets		31,084			26,014
Contingent consideration adjustments		(554	)		(113	)
Reduction of gain on bargain purchase		804			—
Finance costs and other expenses		4,609			5,828
Income tax expense		3,751			7,576
Change in non-cash operating assets and liabilities exclusive of effects of business combinations		(31,928	)		(17,414	)
Income taxes paid		(9,153	)		(4,809	)
Net cash flows from operating activities		19,759			40,171

Cash flows from (used in) financing activities:
Interest paid on lease obligations		(143	)		(105	)
Interest paid on bank indebtedness		(2,732	)		(3,813	)
Proceeds from issuance of bank indebtedness		160,000			—
Repayments of bank indebtedness		—			(243	)
Transaction costs on bank indebtedness		(19	)		(19	)
Payments of lease obligations		(1,695	)		(1,583	)
Net cash flows from (used in) financing activities		155,411			(5,763	)

Cash flows (used in) from investing activities:
Acquisition of businesses		(309,284	)		—
Cash obtained with acquired businesses		34,325			—
Post-acquisition settlement payments, net of receipts		(2,185	)		(937	)
Interest, dividends and other proceeds received		1,320			694
Property and equipment purchased		(1,156	)		(254	)
Decrease in restricted cash, and other investing activities		45			4,337
Net cash flows (used in) from investing activities		(276,935	)		3,840

Effect of foreign currency on cash and cash equivalents		(2,484	)		2,865
(decrease) Increase in cash		(104,249	)		41,113

Cash, beginning of period		352,441			210,983
Cash, end of period	$	248,192		$	252,096