THS Maple Holdings Ltd. (YAY) Reports Financial Results for Q3 Fiscal Year 2025

Toronto, Ontario--(Newsfile Corp. - May 30, 2025) - THS Maple Holdings Ltd. (TSXV: YAY) (the "Company" or "THS"), a leading producer and global distributor of maple syrup and maple-flavoured products, today announced its financial and operational results for the three-month period ended March 31, 2025. The Company continues to focus on executing strategic initiatives, improving operational efficiencies, and expanding its market presence.

1. Comparative Period for 2024 reflects the recent change in fiscal year end.

Key Financial Highlights

• Revenue Growth Over Nine Months: Sales for the nine-month period ended March 31, 2025, grew 32% year-over-year to $10.3 million, up from $7.8 million in the prior year. For the three-month period ended March 31, 2025, sales grew 53% year-over-year to $2.8 million, compared to $1.8 million in the same period last year.
• Gross Profit Margin Improvement Over Nine Months, opportunity to further strengthen margins: The nine-month gross profit margin improved to 22.2%, up from 18.9% in the prior year, reflecting increased sales volume and operational efficiencies. In Q3, gross profit margin increased to 19.3% from 13.9%, due to significant sales volume increase during this period but remains below the Company's expectation as it was negatively affected by the low supply of certain categories of maple syrup causing the Company to use more expensive organic syrup for some orders.
• Lower Finance Costs (including Other Income) and Debt Optimization: Finance costs for Q3 were $178,227, down from $216,887 in the prior-year quarter, and for the nine-month period totalled $476,090, a 42.3% reduction from $825,720. The decrease is primarily due to a more efficient capital structure and the impact of reduced short-term debt following the Business Combination transaction completed in April 2024.
• Financial Stability Measures: The Company recently received an Amendment to its Credit Agreement increasing its available credit limit by 67% once it will be in effect (see full Subsequent Event note in the MD&A).

Operational Highlights

• U.S. Expansion Progress: The Company's warehouse and distribution centre in Vermont is now fully operational, supporting growth in the U.S. market by way of introducing new brands (New England Maple Farms), enhancing inventory management between its facilities, reducing logistics costs and addressing potential politically-driven trade constraints.
• Production Efficiency Improvements: The Granby facility expansion has allowed for increased packaging capacity, enabling the Company to better fulfil its international trading expansion activities.

CEO Commentary

"Our third-quarter results reflect our efforts to rapidly grow sales volumes despite some margin pressure due to higher input costs," said Tom Zaffis, CEO of THS Maple Holdings Ltd. "As the third quarter is seasonally the slowest period of the year, we are encouraged by our operational improvements. The steps we've taken to enhance production efficiency and financial stability set the Company up well as we now enter our busier seasons. The launch of our Vermont distribution centre and the expansion of our Granby facility are significant milestones that position us for both US and international commercial expansion and diversification."

THS continues to focus on enhancing supply chain efficiencies, improving margins, and expanding market share in key regions. With increasing global demand for natural sweeteners and maple products, the Company remains confident in its ability to deliver long-term value for shareholders.

Non-IFRS Financial Measures

Management uses net loss and comprehensive loss as presented in the unaudited interim condensed consolidated statements of net loss and comprehensive loss as well as "EBITDA" as a measure to assess performance of the Company (see full note in MD&A).

• EBITDA for the nine-month period improved by $1.4 million, being negative $113,126, compared to negative $1,549,928 in the prior year. This improvement was driven by higher gross profit and disciplined cost management. In Q3, EBITDA improved by $98,902 at negative $256,631, compared to negative $355,533 in the prior-year quarter.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts". "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate, among other things, to: the expectation that the Company's margins will improve; the benefits associated with becoming a publicly traded company and having access to broader capital markets; the benefits of acquiring a retail kiosk in the Old Port of Montreal; the viability of the Company opening its first US warehouse; and the Company's ability to optimize production and expand distribution. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, THS assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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