Audited Annual Financial Statements — Year ended December 31, 2025

For the year ended December 31, 2025

Expressed in Canadian dollars

Independent Auditor's Report — We have audited the accompanying consolidated financial statements of Quorant Energy Corp., which comprise the consolidated statement of financial position as at December 31, 2025, and the consolidated statements of operations, changes in equity and cash flows for the year then ended, and notes to the consolidated financial statements. In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company in accordance with IFRS.

A.Consolidated Statement of Financial Position

As at December 31, 2025

Assets
Cash and cash equivalents	$15,207,420
Trade and other receivables	$4,837,069
Inventories	$11,063,931
Property, plant and equipment	$58,817,915
Intangible assets and goodwill	$18,736,907
Total assets	$108,663,243
Liabilities
Trade and other payables	$4,639,217
Long-term debt	$14,035,519
Other liabilities	$2,751,722
Total liabilities	$21,426,458
Shareholders' equity	$87,236,784
Total liabilities and equity	$108,663,243

B.Consolidated Statement of Operations

Year ended December 31, 2025

Revenue	$30,342,106
Cost of sales	$(18,716,751)
Gross profit	$11,625,354
General and administrative	$(4,416,083)
Research and development	$(2,410,825)
Operating income	$4,798,447
Finance costs, net	$(960,000)
Net income (loss) for the period	$2,638,835

C.Notes to the Financial Statements

1. Reporting entity

Quorant Energy Corp. is a company domiciled in Alberta. The address of the Company's registered office is 525 8th Ave SW, Suite 3300, Calgary, AB T2P 1G1. The Company's common shares trade on the TSX under the symbol "QRNT".

2. Basis of preparation

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. They have been prepared on the historical cost basis except for financial instruments measured at fair value through profit or loss. The functional and presentation currency is the Canadian dollar.

3. Significant accounting policies

The accounting policies applied in these financial statements are consistent with those applied by the Company in the most recent audited annual financial statements, except for the adoption of new or amended standards effective in the current period, which did not have a material impact on the amounts reported.

4. Management commentary

Unqualified audit opinion from Pellier Grandeau dated March 3, 2026.

Approved on behalf of the Board:

/s/ Elena Vasquez

Director

/s/ Conor McGrath

Director

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