Calgary, Alberta--(Newsfile Corp. - April 30, 2026) - Cleantek Industries Inc. (TSXV: CTEK) ("Cleantek" or the "Company"), a provider of patented technology solutions that enhance operational performance and reduce costs in the wastewater management and industrial lighting sectors, announces its fourth quarter 2025 financial and operational results.

"Q4 represented a strong finish to the year for Cleantek, with increased revenue and adjusted EBITDA highlighting the continued execution of our sales strategy and operational discipline. The team delivered solid full-year results and built a strong foundation moving into 2026," commented Riley Taggart, Cleantek's President and Chief Executive Officer.

In 2026, Cleantek will continue to pursue market share gains, international expansion, increased utilization, and iterative product development. The Company's focus on maintaining a lean cost structure and innovative products positions Cleantek for scalable growth in a rapidly evolving industry.

HIGHLIGHTS FOR THE FOURTH QUARTER 2025

(All amounts are in thousands of Canadian dollars unless otherwise indicated)

• Revenue of $3,426 for the three months ended December 31, 2025, an increase of 17% from $2,927 in Q4 2024, with growth across both rental and equipment sales.

• Gross profit of $1,961, or 57% of revenue, compared to $1,835, or 63% of revenue, in Q4 2024; margin compression reflects a shift in revenue mix toward equipment sales.

• Adjusted EBITDA of $1,534, an increase of 26% from revised Q4 2024 of $1,214, reflecting revenue growth and disciplined cost management.

• Net income of $600, compared to $1,466 in Q4 2024; the prior year quarter included a $518 non-recurring gain on debt forgiveness and a more favourable foreign exchange gain of $563 compared to the loss of $160 experienced in Q4 2025.

• General and administrative expenses of $570, a decrease of $221 from Q4 2024.

• Capital expenditures of $236, compared to $400 in Q4 2024.

EXPANSION AND OUTLOOK

Cleantek's commercial model is built on delivering technology solutions that reduce operating costs and improve efficiency across industrial operations. That strategy continued to gain traction in 2025, with revenue increasing 17%, adjusted EBITDA expanding 25%, and international sales emerging as a meaningful, growing revenue channel.

The Company's near-term priorities continue to be:

• Maximizing utilization rates of its current fleet of sustainable lighting solutions and wastewater treatment assets.

• Expanding and growing the Company's fleet of wastewater treatment assets to satisfy increased demand in the oil and gas, midstream, mining, industrial, and construction markets.

• Advancing its presence in international markets by expanding sales and rental activity of sustainable lighting and wastewater solutions.

• Evaluating new technology partnerships to diversify product offerings and customer groups.

• Evaluating acquisition and merger opportunities to augment growth and market diversification.

Cleantek enters 2026 with an extensive list of international opportunities, a rental fleet systematically upgraded through the EcoSteam program, and a contracted revenue catalyst in the UAE deliveries. The Company expects 2026 revenue to increase materially over its 2025 levels.

The EcoSteam program continued to gain traction in 2025, with additional unit conversions enhancing efficiency and supporting strong utilization across the fleet. Performance exceeded productivity targets, and Cleantek is advancing larger-scale EcoSteam deployment opportunities as part of its growth strategy.

INTERNATIONAL EXPANSION

International equipment sales grew from $460 in 2024 to $1,591 in 2025, an increase of 246%, establishing Cleantek as a credible supplier to major international oil and gas operators. Upon delivery, the January 2026 UAE contract for up to 60 HALO SE Crown Mount units, currently in production at Crossfield, is expected to represent the largest single-contract revenue event in the Company's history, marking a significant milestone in the execution of its international growth strategy.

RESULTS OF OPERATIONS

(1) Management uses EBITDA and Adjusted EBITDA as supplementary financial measures in evaluating operating performance and the Company's ability to generate cash flows. EBITDA is calculated as net income (loss) before finance costs, income taxes, and depreciation and amortization, including depreciation of right-of-use assets and amortization of intangible assets. Adjusted EBITDA is calculated as EBITDA adjusted for share-based compensation, unrealized foreign exchange gains and losses, and items not considered representative of ongoing operations, including litigation expenses and settlements, executive severance, gains and losses on disposal of property and equipment, gains and losses on termination of right-of-use assets, and gains on debt forgiveness. Effective for the year ended December 31, 2025, the Company revised its definition of Adjusted EBITDA to exclude gains and losses on disposal of property and equipment and gains on debt forgiveness, which were previously included in the measure; comparative figures have been re-presented accordingly. Working capital is calculated as current assets less current liabilities. Non-current debt is the non-current portion of long-term debt and lease liabilities. These measures do not have standardized meanings under IFRS. See the Non-IFRS Measurements section of this MD&A for further discussion and reconciliations.

ABOUT CLEANTEK

Cleantek is an energy technology company providing specialized and fully integrated wastewater treatment, disposal equipment, and turnkey sustainable lighting rental solutions. By leveraging patented technology and industry expertise, Cleantek delivers tailored, cost-effective solutions to a diverse client base, including blue-chip exploration and production companies across North America. With a focus on sustainability, safety, and operational excellence, Cleantek is well-positioned to meet the rising water treatment and sustainable lighting market demand. Our proven track record and commitment to innovation drive long-term value creation in the clean technology sector.

Selected financial and operational information is outlined below and should be read in conjunction with Cleantek's audited consolidated financial statements and management's discussion and analysis ("MD&A") for the year ended December 31, 2025, which are available on the Company's SEDAR profile at www.sedarplus.ca.

NON-IFRS MEASUREMENTS

Cleantek uses certain financial measures to quantify its results that are not prescribed by IFRS. The following terms: "EBITDA", "adjusted EBITDA", "working capital", and "non-current debt" are not recognized measures under IFRS and may not be comparable to those reported by other companies. Cleantek believes that, in addition to measures prepared in accordance with IFRS, the non-IFRS measurements provide useful information to evaluate the Company's performance and ability to generate cash, profitability, and meet financial commitments.

These non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

EBITDA AND ADJUSTED EBITDA

Management uses EBITDA and Adjusted EBITDA as supplementary financial measures to evaluate operating performance and the Company's ability to generate cash flows independent of capital structure and non-cash charges. EBITDA is defined as net income (loss) before finance costs, income taxes, and depreciation and amortization, including depreciation of right-of-use assets and amortization of intangible assets. Adjusted EBITDA is EBITDA further adjusted for share-based compensation, unrealized foreign exchange gains and losses, and items that are episodic and not indicative of recurring earnings capacity, including gains and losses on disposal of long-lived assets, gains and losses on termination of right-of-use assets, litigation expenses and settlements, executive severance, and gains on debt forgiveness. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures presented by other issuers and should not be considered in isolation or as substitutes for performance measures prepared in accordance with IFRS.

Effective for the year ended December 31, 2025, the Company revised its definition of Adjusted EBITDA to exclude gains and losses on disposal of long-lived assets, gains and losses on termination of right-of-use assets, and gains on debt forgiveness, which were previously included in the measure. Management believes this revised definition provides a more meaningful measure of underlying operating performance by removing episodic items that are not indicative of recurring earnings capacity and improves comparability with industry peers. In accordance with NI 52-112, comparative 2024 figures have been re-presented to conform to the current period presentation. As a result, Adjusted EBITDA for the year ended December 31, 2024 has been re-presented from $4,201 to $3,653, and for the three months ended December 31, 2024 from $1,762 to $1,214, reflecting the removal of the $518 gain on debt forgiveness and the $30 gain on disposal of long-lived assets from those periods.

The following table reconciles previously reported and revised Adjusted EBITDA for 2024:

WORKING CAPITAL

Working capital (or also referred to as net current assets/liabilities) for Cleantek is calculated as current assets less current liabilities per the statement of financial position. The following table provides a reconciliation of working capital, a non-IFRS measure, to the applicable IFRS measurements for the Company:

NON-CURRENT DEBT

Management considers non-current debt in analyzing the Company's capital structure. Cleantek's capital structure consists of working capital, non-current debt, and shareholders' equity. Non-current debt measures the long-term borrowings of the Company. Non-current debt for Cleantek is calculated as the non-current portions of long-term debt and lease liabilities. The following table provides a reconciliation of non-current debt, a non-IFRS measure, to the applicable IFRS measurements for the Company:

Forward-Looking Statements

This news release contains certain "forward-looking statements" including, for example, statements relating to expected improved financial flexibility, additional growth, expansion of Cleantek's fleet of sustainable lighting solutions and EcoSteam wastewater treatment assets, the expected deployment of Cleantek's assets, available liquidity, Cleantek's outlook for the future, and near-term strategy. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: receipt of regulatory approvals, the state of the capital markets, the ability of the Company to successfully manage the risks inherent in pursuing business opportunities in the oilfield services industry and outside the North American market, and the ability of the Company to obtain qualified staff, equipment and services in a timely and cost efficient manner to develop its business. Any forward-looking statement reflects information available to Cleantek as of the date of this news release and, except as may be required by applicable securities laws, Cleantek disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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 news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295216

Source: Cleantek Industries Inc.