Acceleware Ltd. Reports Second Quarter 2026 Financial and Operating Results

Acceleware Ltd. (TSXV: AXE) today announced its financial and operating results for the three and six months ended June 30, 2026.

HIGHLIGHTS Acquired 35 net sections of heavy oil assets located in the Mannville Stack in Saskatchewan on June 1, 2026 including 16 barrels of oil per day (bopd) of working interest production. Submitted two enhanced oil recovery applications with the Saskatchewan Ministry of Energy and Resources for the commercial deployment of RF XL 2.0. Completed a milestone in the Phase 3A IMII potash dryer prototype and received $65 thousand payment which is recorded as deferred revenue. Deferred revenue will be recognized when all contract performance obligations are met. Subsequent to June 30, 2026: executed an agreement with Clean Resource Innovation Network (CRIN) securing up to $2 million in non-dilutive funding for RF XL 2.0 demonstration in Saskatchewan. completed a further milestone in the Phase 3A IMII potash dryer prototype and received a further $65 thousand payment. signed a feasibility contract with a major international mining company applying RF heating to a critical mineral process. The contract amount is US$202 thousand, and the Company has received US$101 thousand to date.

Financial Highlights Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Revenue $ 75,321 201,523 $ 191,625 632,749 Deferred revenue balance $ 263,650 - $ 263,650 - Comprehensive loss $ (805,930 ) (714,148 ) $ (1,535,784 ) (1,096,343 ) R&D expenditures $ 190,213 266,595 $ 531,020 687,424

Operating Highlights Acceleware's goal is to enhance global resource development by helping producers increase production and reduce operating costs by using the Company's innovative electromagnetic RF heating applications. Global interest in critical minerals applications continues to grow, with international companies funding technology evaluations as they seek solutions that can improve process performance while reducing energy consumption and emissions.

Heavy Oil with RF XL 2.0 During Q2 2026 the Company materially added to its portfolio with the acquisition of 35 net sections of heavy oil assets located in the Mannville Stack in Saskatchewan from a private oil and gas company. The Company paid $100 thousand cash and granted a gross overriding royalty on future production. Included in the acquired assets were one horizontal well in the Rex zone producing 16 bopd working interest before royalties and another horizontal Rex well requiring a workover. Each well includes associated surface leases and infrastructure. The acquisition provides a low-cost, scalable entry point into a heavy oil resource base aligned with multi-well RF XL 2.0 development. In addition to the $100 thousand cash purchase price, the Company assumed decommissioning liabilities estimated by Management to have a present value of $48 thousand as at June 30, 2026. The assets acquired provide Acceleware with a combination of existing production and undeveloped upside, enabling the Company to pursue a multi-pronged development approach. Initial plans include maintaining production from the Rex zone, while evaluating production enhancing opportunities in the existing wells. Next, the Company intends to advance subsurface and reservoir characterization across the stacked Mannville intervals, while compl...