D-BOX Q4 2025 Earnings Presentation

Disclaimer

All references in this presentation to dollars and "$" are to Canadian dollars unless otherwise specified.

Caution Regarding Forward-looking Information

Certain information included in this presentation may constitute “forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, activities, objectives, operations, strategy, business outlook, and financial performance and condition of the Company, or the assumptions underlying any of the foregoing. In this document, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information, by its very nature, is subject to numerous risks and uncertainties and is based on several assumptions which give rise to the possibility that actual results could differ materially from the Company's expectations expressed in or implied by such forward-looking information and no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including but not limited to the future plans, activities, objectives, operations, strategy, business outlook and financial performance and condition of the Company. Forward-looking information is provided in this document for the purpose of giving information about Management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose. Forward-looking information provided in this document is based on information available at the date hereof and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The risks, uncertainties and assumptions that could cause actual results to differ materially from the Company's expectations expressed in or implied by the forward-looking information include, but are not limited to, international trade regulations; concentration of clients; dependence on suppliers; performance of content; exchange rate between the Canadian dollar and the U.S. dollar; ability to implement strategy; consumer preferences and trends; political, social and economic conditions; strategic alliances; credit risk; competition; access to content; technology standardization; future funding requirements; distribution network; indebtedness; global health crises; warranty, recalls and claims; dependence on key personnel and labour relations; legal, regulatory and litigation; intellectual property; security and management of information; and reputational risk through social media. These and other risk factors that could cause actual results to differ materially from expectations expressed in or implied by the forward-looking information are outlined under "Risk Factors” in the Company's management's discussion and analysis for the period ended March 31, 2025, and discussed in greater detail in the most recently filed Annual Information Form dated June 10, 2025, a copy of which is available on SEDAR+ at www.sedarplus.ca. Except as may be required by Canadian securities laws, the Company does not intend nor does it undertake any obligation to update or revise any forward-looking information contained in this presentation to reflect subsequent information, events, circumstances or otherwise. The Company cautions readers that the risks described above are not the only ones that could have an impact on it. Additional risks and uncertainties not currently known to the Company or that the Company currently deems to be immaterial may also have a material adverse effect on the Company's business, financial condition or results of operations.

Market and Industry Data

Market and industry data presented throughout this presentation was obtained from third-party sources, industry reports and publications, websites and other publicly available information, as well as industry and other data prepared by us or on our behalf, on the basis of our knowledge of the markets in which we operate, including information provided by other industry participants. We believe that the market and industry data presented throughout this presentation is accurate and, with respect to data prepared by us or on our behalf, that our opinions, estimates and assumptions are currently appropriate and reasonable, but there can be no assurance as to the accuracy or completeness thereof. The accuracy and completeness of the market and industry data presented throughout this presentation are not guaranteed and the Company makes no representation or warranty, express or implied, as to the accuracy of such data and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the market and industry data or any other information or opinions contained herein, for any purpose whatsoever. Actual outcomes may vary materially from those forecast in such reports or publications, and the prospect for material variation can be expected to increase as the length of the forecast period increases. Although we believe it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this presentation, analyzed or verified the underlying studies or surveys relied upon or referred to by such sources, or ascertained the underlying market, economic and other assumptions relied upon by such sources. Market and industry data is subject to variations and cannot be verified due to limits on the availability and reliability of data inputs, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey.

Q4 2025 MARKED BY PROFITABILITY IMPROVEMENT

REVENUES (in millions $)

ADJUSTED EBITDA¹ (in millions $)

NET INCOME (in millions $)

Key Performance Highlights:

• Revenues down 15% Y/Y due to a difficult year-over-year comparison in Theatrical system sales, partly offset by growth in other revenue streams.
• Royalties increased to 26% of total revenues in Q4-25, up from 21% in Q4-24 and 18% in Q4-23.
• Favorable foreign exchange (FX) rates contributed positively.
• Adjusted EBITDA margin reached 18%.
• Gross margin improved to 54% from 47% in the prior year, driven by a higher proportion of royalty revenue, cost discipline, and favorable FX.
• Net profit was $0.7M, an improvement from the prior year which included a one-time $0.5M gain from the sale of an investment.

¹Adjusted EBITDA, gross margin and operating expenses as % of total revenues are non-IFRS measures. For definitions and reconciliations refer to the "Non-IFRS financial performance measures" section of the Company's press release filed on June 10, 2025 available at www.sedar.com.

Q4 2025 REVENUE PERFORMANCE

Theatrical System Sales

$1M, -78% Y/Y

• Decline due to difficult year-over-year comparison (different cadence).
• Dampened international backdrop versus prior year.
• Continued rollout to major theatrical customers.

Sim Racing System Sales

$2.7M, +108% Y/Y

• Continuous deployment of sim racing centers with partners Advanced SimRacing & F1 Arcade.
• Favorable FX.

Simulation & Training System Sales

$2.4M, +47% Y/Y

• Clients transitioning to next generation of D-Box products, including the launch of G3 Flex.

Revenue Summary:

• Total System Sales: $6.4M, -21% Y/Y
• Royalties: $2.2M, +5% Y/Y
• Total Revenues: $8.6M, -15% Y/Y

Industry Context: Royalties increased by 5% despite weaker Q4 box-office trends industry-wide. This is attributed to D-BOX's expanded screen footprint, which reached 1,012 screens at year-end.

Image Description: The presentation includes images of movie posters for "MUFASA: THE LION KING", "SONIC 3", and "CAPTAIN AMERICA: BRAVE NEW WORLD".

FY 2025 RECORD REVENUE PERFORMANCE

Total System Sales of $32M, +3% Y/Y

• Theatrical: Continued rollout with key partners. Expanding footprint drives higher floor for high-margin, recurring royalty revenue. (-8% y/y)
• Sim Racing: Strong momentum in deployment of sim racing centers. Valuable key partnerships. (+41% y/y)
• Simulation & Training: Steady business. Opportunity to increase market penetration with next generation D-BOX products. (-2% y/y)
• Other: Announced exit of low-margin DTC hardware. (-24% y/y)

Record Royalties of $11M +27%

• Increased D-BOX footprint: Year-end 1,012 screens (+9% vs FY24).
• Improved blockbuster offering.

FY2025 Total Record Revenues of $43M +8% Y/Y*

• Focused commercial strategy.
• Key strategic partnerships.
• Recovery of the U.S. film production industry.

* Sales growth of 10% excluding the impact of exit from low-margin DTC hardware market.

FY 2025: PROFIT GROWTH SIGNIFICANTLY OUTPACING REVENUE GROWTH

Total Revenues: Two Consecutive Record Years

FY23: $34.1M

FY24: $39.6M (+16%)

FY25: $42.8M (+8%)*

* FY25 sales growth of 10% excluding the impact of exit from low-margin DTC hardware market.

Key Focus: Focusing on key commercial markets with Royalties increased to 26% of total revenues for FY25.

Delivering on Profitability

Adjusted EBITDA: Grew from $1.8M in FY23 to $7.3M in FY25 (approx. 4x growth over 2 years).

Net Income: Improved from -$0.9M in FY23 to $3.9M in FY25.

Driving positive net income:

• Scaling the business.
• Maintaining cost discipline.
• Higher proportion of royalties in mix.
• Exiting lower-margin markets.
• FX tailwind.

Robust Net Cash Position Driven by Profitable Operating Performance

Net Cash (Net Debt):

• YE23: ($0.8M) (Net Debt)
• YE24: $0.4M
• YE25: $6.6M

Maintaining strong balance sheet:

• Strong cash from operations generation in FY 2025.
• Year-end debt of $1.2M after Q3-25 paydown of ~$1M.
• Available liquidity of ~$16M as of March 31, 2025.

CEO TRANSITION & LEADERSHIP APPOINTMENTS

Appointment of Naveen Prasad as Interim CEO

Mr. Prasad, an independent Board member, has been appointed Interim CEO, effective June 10, 2025. He brings 25+ years of media and tech experience, with a strong track record in leadership and transformation. Formerly President of VICE Media Canada and co-founder of companies in both Tech and Media, he brings deep operational insight and strategic vision to the role.

Appointment of Lori Vaudry Tersigni as Independent Director

Ms. Vaudry Tersigni brings extensive operational and leadership experience from senior roles at Morneau Shepell (now Telus Health) and CIBC across strategy, governance, HR, and technology/systems. She currently serves on the board of the Canadian Securities Exchange, chairing its HR & Compensation Committee.

For more information:

• Visit d-box.com
• Email investors@d-box.com
• Follow us on LinkedIn at linkedin.com/company/d-box-technologies

Naveen Prasad
Interim CEO

Josh Chandler
CFO