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Canlan Reports Q2 Revenue Growth and Expansion of Game Deck(TM)

Burnaby, British Columbia--(Newsfile Corp. - August 13, 2025) - Canlan Ice Sports Corp. (TSX: ICE) (the "Corporation") today reported its financial results for the second quarter ended June 30, 2025.

Overview of Q2 2025

• Total operating revenue of $23.5 million increased by $1.6 million or 7.5% compared to Q2 2024;

• Operating earnings of $2.0 million increased by $0.4 million or 23.3% compared to a year ago; and

• In April 2025, Canlan Sports York opened its expanded Game Deck^TM that now incorporates 16 arcade and redemption games in addition to the sports simulator bays that were completed in 2024. In addition to this Game Deck expansion, various other major renovation and maintenance projects commenced during the quarter designed to improve facility operations and customer experience.

Three Months and Six Months Ended June 30, 2025 Results

Second Quarter Results
(three months ended June 30, 2025 compared with three months ended June 30, 2024)

• Total operating revenue of $23.5 million increased by $1.6 million or 7.5% compared to 2024, mainly due to increased pricing, higher tournament registrations, and increased participation in spring/summer hockey and soccer leagues, and incremental revenue from the sports simulator bays (Game Deck) constructed in Q3 2024, and amusement games that were added in April 2025. The increased traffic also helped restaurant and concession sales increase by $0.2 million or 6% compared to 2024;

• Total operating expenses of $18.9 million increased by $1.4 million or 7.9% mainly due to labour to service increased volumes and a provision for trade receivables related to one uncollectable customer account;

• Total G&A expenses of $2.6 million decreased by $0.1 million or 3.9% due to a decrease in compensation expense as post-employment compensation expenses were accrued during Q2 2024 while no similar expense is required for 2025;

• After G&A, operating earnings of $2.0 million increased by $0.4 million or 23.3% compared to 2024; and

• After recording depreciation expense of $2.0 million, net finance costs of $0.4 million, and income tax recovery of $0.2 million, net loss for the quarter was $0.2 million or $0.01 per share compared to net loss of $1.2 million or $0.09 per share in the prior year.

Six Months Ended June 30, 2025 Results
(six months ended June 30, 2025 compared with six months ended June 30, 2024)

• Total operating revenue of $51.5 million increased by $3.4 million or 7.2% compared to 2024 mainly due to higher tournament registrations, pricing and volume increases in the hockey and soccer leagues. In addition, growth in restaurant and concession traffic resulted in an 8.2% or $0.6 million rise in food and beverage revenue;

• Total operating expenses of $35.9 million increased by $2.0 million or 6.0% mainly due to incremental labour and other variable costs required to service increased business activity levels and a provision for trade receivables related to one uncollectable customer account;

• Total G&A expenses of $5.1 million increased by $0.2 million or 3.3% mainly due to increased provisions for the Company's long-term incentive compensation plan (LTIP);

• Operating earnings before interest, depreciation and taxes was $10.5 million compared to $9.2 million in 2024; and

• After recording depreciation expense of $3.9 million, net finance costs of $1.3 million, and income tax expense of $1.2 million, net earnings were $4.0 million or $0.30 per share compared to $3.1 million or $0.23 per share in the prior year.

"The first half of 2025 has been an exciting and productive time for Canlan Sports. Not only did we surpass both our prior year's performance and our internal targets for league registrations, but we also saw major strides in the realization of key strategic investments. From restaurant renovations and the launch of Game Deck to the expansion of our turf fields at Canlan Sports - Libertyville, our teams have worked tirelessly to enhance our facilities and customer experience. The early results have been encouraging, and we remain committed to elevating every touchpoint of our guests' journeys through these new amenities," said Joey St-Aubin, President and CEO of Canlan Sports.

Dividend Policy
Canlan's Board of Directors has approved the continuation of the Corporation's quarterly dividend policy. As such, the Board declared eligible dividends totaling $0.03 per common share that will next be paid on October 15, 2025 to shareholders of record at the close of business September 30, 2025. Canlan's Board of Directors reviews the Corporation's dividend policy on a quarterly basis. Canlan's dividend is designated as an "eligible" dividend under the Income Tax Act (Canada) and any corresponding provincial legislation. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits, which reduce income tax otherwise payable.

Filings
Canlan's financial statements and Management's Discussion & Analysis for the quarter ended June 30, 2025 will be available via SEDAR+ () on or before August 14, 2025 and through the Company's website, .

About Canlan
Canlan Sports is the North American leader in the operations and ownership of multi-purpose recreation and entertainment facilities. We are amongst the largest private sector owners and operators of recreation facilities in North America and currently own, lease and/or manage 15 facilities in Canada and the United States with 47 ice surfaces, as well as 10 indoor soccer fields, and 18 hard court surfaces. To learn more about Canlan please visit .

Canlan Ice Sports Corp. has proudly been listed on the Toronto Stock Exchange for over 35 years and the stock trades under the symbol "ICE."

Caution concerning forward-looking statements
This News Release may contain information that constitutes "forward-looking" information within the meaning of applicable securities laws. Often, but not always, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, anticipated benefits of capital expenditures (including energy efficiencies and enhanced customer experiences) and expectations of business growth. Forward-looking information is based on the reasonable assumptions, estimates, analyses, beliefs and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable at the date that such information is disclosed. Forward-looking information is subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Canlan to control or predict, that may cause Canlan's actual results, performance or achievements to be materially different from those expressed or implied thereby. Material risk factors that could cause actual results to differ materially from the forward-looking information provided herein include those factors identified in Canlan's public disclosure file available at  and, in particular, the risk factors set out under the heading "Risk Factors" in the Company's MD&A available for review on the Company's profile at . Such forward-looking information represents management's best judgment based on information currently available. Accordingly, readers are advised not to place undue reliance on forward-looking information. The forward-looking information herein is made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable securities law.

¹ Operating earnings is defined as earnings after general and administrative expenses and before interest, depreciation, foreign currency exchange, gain on assets sold and income tax. However, operating earnings is not a term that has specific meaning in accordance with IFRS, and may be calculated differently by other companies. Canlan reconciles operating earnings to its net earnings.

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