Tenet Reports Year-End 2024 Financial Results

Toronto, Ontario–(Newsfile Corp. – October 1, 2025) – Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Tenet” or the “Company”), today announced its financial results for the year ended December 31, 2024. The Company reported revenue of $2.84 million, compared to $42.08 in 2023, and a net loss of $59.26 million for the year, of which a total of $32.39 million was attributed to an expected credit loss provision taken by the Company. The Company generated negative cash flow from operations of $6.92 million in 2024 compared to negative $3.91 million in 2023. All amounts in this news release are in Canadian dollars unless otherwise indicated.

2024 Key Financial Figures

• Total Revenue of $2.84 million
• Net Loss of $59.26 million
• Cash flow from operations of -$6.92 million

As reflected by the Company’s financial results, 2024 was the continuation of a transition period for the Company that started in 2023. The Company believes to be on track to show evidence of the long-term benefits of that transition by the end of 2025 through the commercialization of its first data-derived product offering and the reactivation of some of its platforms in China, in both a revenue-generating capacity as well as a data acquisition capacity.

Q4 2024 Operating Highlights

Here are some of Tenet’s important achievements during the fourth quarter of 2024 to help bring the Company closer to its intended objectives:

• Enhancements to the Cubeler® Business Development Platform’s Financing module and full releases of the Networking and Advertising modules following beta releases to bring greater value and attract membership on the platform.
• Strategic partnership with Dext Software Ltd. to allow the Company to both have more timely data coming from Cubeler® Business Development Platform member SMEs for its data product offering and provide bookkeepers with a bookkeeping automation solution that would save them time and money.
• Appointment of Liang Qiu as the new Head of Global Development of the Cubeler® Business Development Platform to help bring seamless cross-border communications and interactions among platform members.
• Closed a series of non-brokered private placement financings for gross proceeds totaling approximately $2,155,000.

Operational Outlook for 2025

The following is a summary of the Company’s operational objectives for the 2025 calendar year:

• Enhance functions of the Cubeler® Business Development Platform’s Networking module to allow cross-border communications, interactions and business opportunity explorations.
• Launch of the Cubeler® Business Development Platform in the U.S.
• Launch and commercialization of first data-derived products in North America.
• Return to annual revenue run-rate of $100M+ with reactivation of platforms in China and contributions from North American data-derived products.

Full details of the Company’s 2024 financial results and outlook for 2025 can be found in the Audited Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) for the years ended December 31, 2024 and 2023, which are available under the Company’s profile at www.sedarplus.ca.

2024 Results Q&A and Outlook for Rest of 2025

Tenet CEO Johnson Joseph will answer questions from shareholders related to the Company’s 2024 audited financial results in a Q&A interview and will also share his perspective on the Company’s business plan for the rest of 2025. Shareholders are invited to read the Company’s MD&A prior to sending their questions related to these subjects to the Company by 9:00pm EDT on October 7, 2025 to investors@tenetfintech.com or cathy@chfir.com. The interview will be posted on the Company’s website by 5:00pm EDT on October 10, 2025.

About Tenet Fintech Group Inc.:

Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet’s subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies and financial institutions either through or leveraging data gathered by the Cubeler® Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/.

Follow Tenet Fintech Group Inc. on social media:
X: @Tenet_Fintech
Facebook: @Tenet
LinkedIn: Tenet
YouTube: Tenet Fintech

Forward-looking information

Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of Tenet to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, holding company with significant operations in China; general economic and business conditions, including factors impacting the Company’s business in China such as pandemics and COVID-19; legislative and/or regulatory developments; Global Financial conditions, repatriation of profits or transfer of funds from China to Canada, operations in foreign jurisdictions and possible exposure to corruption, bribery or civil unrest; actions by regulators; uncertainties of investigations, proceedings or other types of claims and litigation; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional funding, dilution from further financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by Tenet with securities regulators in Canada. Reference should also be made to Management’s Discussion and Analysis (MD&A) in Tenet’s annual and interim reports, Annual Information Form, filed with Canadian securities regulators and available via the System for Electronic Document Analysis and Retrieval (SEDAR+) under Tenet’s profile at www.sedarplus.ca, for a description of major risk factors relating to Tenet. Although Tenet has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements reflect information as of the date on which they are made. The Company assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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