DAVIDsTEA (DTEA) investor relations material

Opening remarks and agenda

• Meeting commenced with Pat De Marco as Chairman and Neil Wiener as Secretary, with scrutineers appointed to oversee voting and attendance.

• Shareholders participated via audio webcast, with most votes cast by proxy prior to the meeting.

• CEO and Chief Brand Officer Sarah Segal provided a business update, outlining the meeting's focus on financial performance, strategic growth, and sustainability initiatives.

• Official business included election of directors, auditor appointment, and a special resolution to amend articles for B Corp certification.

Board and executive committee updates

• Five directors were nominated and elected: Jane Silverstone Segal, Sarah Segal, Susan L. Burkman, Pat De Marco, and Peter Robinson, each receiving at least 97% of votes.

• Richter LLP was reappointed as auditor until the next annual meeting.

Financial performance review

• Achieved IFRS profitability in FY 2025 with net income of $2.9 million (CAD 2.9 million) on revenue of $61.0 million (CAD 61 million), driven by a retail store-led omnichannel model.

• Retail store sales increased 10.4% year-over-year; comparable store sales rose 6.8%.

• Online sales declined 7.6% and wholesale revenues fell 8.4%; U.S. sales declined 18.4% due to trade tensions and regulatory changes.

• Cash position at year-end was CAD 16.5 million, aided by a CAD 3 million private placement and CAD 2.7 million revenue-linked financing; working capital at $18.0 million.

• Q1 2026 results: sales of $13.0 million, gross profit of $7.8 million, adjusted EBITDA of CAD 1.6 million, and net income of $0.1 million.