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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Year ended 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Year ended 31-May-2025
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 \u0026amp; 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5\u003c/p\u003e\n\u003cp\u003e3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Audited 31-May-2025
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY \u0026amp; LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6\u003c/p\u003e\n\u003cp\u003eFINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income\u001b Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7\u003c/p\u003e\n\u003cp\u003eFINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 \"dKustments for\u001b %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant \u0007 eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities\u001b Receivables \u0007 prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 \"ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes \"dditions to Fixed \"ssets (1,853) (603) Proceeds from sale of property, plant \u0007 eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash \u0007 cash eRuivalents at beginning of the year 9,448 149 Cash \u0007 cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8\u003c/p\u003e\n\u003cp\u003eFINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#\" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs\u001b $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less\u001b Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9\u003c/p\u003e\n\u003cp\u003eTOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32\u0015,120 \u0006 1 IEC ENERGY COMP\"NY LIMITE% 984,417,637 74.785 2 NIC)OL\"S \"NT)ONY )6%SON 35,000,000 2.659 3 TOM\"S %6NC\"N )6%SON 35,000,000 2.659 4 INFINITI C\"PIT\"L LIMITE% 30,569,348 2.322 5 CL\"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M\") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR \"6CT6S LIMITE% 19,066,093 1.448 9 ,\"RL P. 8RIG)T 11,521,500 0.875 10 CL\"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,1\u001a0,\u0015\u001a\u0018,\u00190\u0015 \u001a0\u000f\u0015\u00151 NO\u000f OF SHAREHOLDERS AT 30\u0010 0\u0016\u00102026 +CSD 3,\u00156\u0019 MAIN REGISTER 11,36\u0016 GRAND TOTAL 1\u0015,\u001933 10\u003c/p\u003e\n\u003cp\u003eDIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS\b NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %\"7Y +ENNIFER %\"7Y ,YLE %\"7Y NIL IEC ENERGY COMP\"NY LIMITE% 984,417,637 8INSTON 8\"TSON NIL NIL \"L#ERT GOR%ON NIL NIL %ON\"L% P\"TTERSON NIL NIL CONLEY S\"LMON NIL NIL 8\"YNE 8R\"Y NIL 8ILTS)IRE CONS6LTING \u0007 \"%7ISORY 3,937,324 GraOd ToUaM \u001a\u0019\u0019,3\u0016\u0015,\u001a61 11\u003c/p\u003e\n\u003cp\[email protected] www.innovativeenergy.net E-mail \u0026amp; Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office\u003c/p\u003e\u003c/div\u003e\n\u003cp class=\"abeng-source-link\"\u003eSource: \u003ca href=\"https://cdn.jamstockex.com/pd/2026/07/IEG-Unaudited-Q4-2026-Report.pdf\" target=\"_blank\" rel=\"noopener\"\u003eOriginal PDF\u003c/a\u003e\u003c/p\u003e","body_text":"Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2 INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3 Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4 FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Quarter ended 31-May-2025
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Year ended 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Year ended 31-May-2025
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 \u0026 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5 3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY \u0026 LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6 FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income\u001b Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7 FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 \"dKustments for\u001b %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant \u0007 eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities\u001b Receivables \u0007 prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 \"ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes \"dditions to Fixed \"ssets (1,853) (603) Proceeds from sale of property, plant \u0007 eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash \u0007 cash eRuivalents at beginning of the year 9,448 149 Cash \u0007 cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8 FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#\" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs\u001b $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less\u001b Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9 TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32\u0015,120 \u0006 1 IEC ENERGY COMP\"NY LIMITE% 984,417,637 74.785 2 NIC)OL\"S \"NT)ONY )6%SON 35,000,000 2.659 3 TOM\"S %6NC\"N )6%SON 35,000,000 2.659 4 INFINITI C\"PIT\"L LIMITE% 30,569,348 2.322 5 CL\"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M\") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR \"6CT6S LIMITE% 19,066,093 1.448 9 ,\"RL P. 8RIG)T 11,521,500 0.875 10 CL\"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,1\u001a0,\u0015\u001a\u0018,\u00190\u0015 \u001a0\u000f\u0015\u00151 NO\u000f OF SHAREHOLDERS AT 30\u0010 0\u0016\u00102026 +CSD 3,\u00156\u0019 MAIN REGISTER 11,36\u0016 GRAND TOTAL 1\u0015,\u001933 10 DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS\b NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %\"7Y +ENNIFER %\"7Y ,YLE %\"7Y NIL IEC ENERGY COMP\"NY LIMITE% 984,417,637 8INSTON 8\"TSON NIL NIL \"L#ERT GOR%ON NIL NIL %ON\"L% P\"TTERSON NIL NIL CONLEY S\"LMON NIL NIL 8\"YNE 8R\"Y NIL 8ILTS)IRE CONS6LTING \u0007 \"%7ISORY 3,937,324 GraOd ToUaM \u001a\u0019\u0019,3\u0016\u0015,\u001a61 11 [email protected] www.innovativeenergy.net E-mail \u0026 Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office","subtitle":null,"available_languages":["ar","de","en","es","fr","hi","ht","it","ja","ko","pt","ru","zh"],"primary_image":"https://abeng.org/og/default.png","images":["https://abeng.org/og/default.png"],"canonical_url":"https://www.jamstockex.com/innovative-energy-group-limited-energy-unaudited-quarterly-report-for-4th-quarter-ending-may-31-2026","updated_at":"2026-07-15T20:43:22.551Z","scraped_at":"2026-07-15T20:37:29.940Z","related_to":[{"id":"70ed26823f0230c3","source":"sdc","title":"Labour Day 2026 Projects Near You","jaccard":0,"cosine":0.35895437890686055,"computed_at":"2026-07-17T10:36:41.168Z","published_at":"2026-05-21T22:48:05.000Z","media_type":null,"video":null},{"id":"539eedc3f8cf5456","source":"our-today","title":"Image Plus recent acquisitions reaping many dividends","jaccard":0,"cosine":0.33805326591652896,"computed_at":"2026-07-16T15:59:33.785Z","published_at":"2026-07-16T15:51:03.000Z","media_type":null,"video":null},{"id":"51fdf482f2918af7","source":"gleaner","title":"CAC 2000 breaks profit drought","jaccard":0,"cosine":0.31429655977823756,"computed_at":"2026-07-15T20:43:21.868Z","published_at":"2026-07-10T05:00:00.000Z","media_type":null,"video":null},{"id":"d4f6545609b55bdf","source":"our-today","title":"OT Equity Analysis | ConocoPhillips: Scale, Inventory depth and capital returns support the long-term case","jaccard":0,"cosine":0.3033576154550337,"computed_at":"2026-07-17T09:53:30.102Z","published_at":"2026-07-16T19:20:31.000Z","media_type":null,"video":null},{"id":"ffe978e3823529f3","source":"our-today","title":"OT Equity Analysis | Occidental Petroleum: Deleveraging has improved the story, but execution risk remains","jaccard":0,"cosine":0.30176197071978605,"computed_at":"2026-07-17T09:53:32.294Z","published_at":"2026-07-16T18:47:33.000Z","media_type":null,"video":null}]},"available":["ar","de","en","es","fr","hi","ht","it","ja","ko","pt","ru","zh"],"related":[{"id":"70ed26823f0230c3","source":"sdc","title":"Labour Day 2026 Projects Near You","primary_image":"https://abeng.org/og/default.png","published_at":"2026-05-21T22:48:05.000Z"},{"id":"539eedc3f8cf5456","source":"our-today","title":"Image Plus recent acquisitions reaping many dividends","primary_image":"https://our.today/wp-content/uploads/2026/07/apex-radiology-logo-our-today-demo-16x9-1.jpg","published_at":"2026-07-16T15:51:03.000Z"},{"id":"51fdf482f2918af7","source":"gleaner","title":"CAC 2000 breaks profit drought","primary_image":"http://jamaica-gleaner.com/sites/default/files/styles/1_1_large/public/media/2026/07/10/8496763.jpg?h=10d202d3\u0026itok=vMRaRz3H","published_at":"2026-07-10T05:00:00.000Z"},{"id":"d4f6545609b55bdf","source":"our-today","title":"OT Equity Analysis | ConocoPhillips: Scale, Inventory depth and capital returns support the long-term case","primary_image":"https://our.today/wp-content/uploads/2026/07/Conoco-Phillips-Logo-2.jpg","published_at":"2026-07-16T19:20:31.000Z"},{"id":"ffe978e3823529f3","source":"our-today","title":"OT Equity Analysis | Occidental Petroleum: Deleveraging has improved the story, but execution risk remains","primary_image":"https://our.today/wp-content/uploads/2026/07/6f95188b-86b2-40d6-800e-d2b4f7a04c5a-16x9-1.jpg","published_at":"2026-07-16T18:47:33.000Z"}],"podcast":null}
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Innovative Energy Group Limited (ENERGY) – Unaudited Quarterly Report For 4th Quarter Ending May 31, 2026

8 min readKingston

Quarter Ended May 31, 2026 UNAUDITED GROUP FINANCIAL STATEMENTS www.innovativeenergy.net

Contents Q4-2026 INTERIM REPORT TO OUR SHAREHOLDERS 3 UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME 5 UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION 6 UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY 7 UNAUDITED GROUP STATEMENT OF CASH FLOW 8 UNAUDITED NOTES TO THE FINANCIAL STATEMENT 9 TOP 10 SHAREHOLDERS 10 DIRECTORS SHAREHOLDINGS 11 2

INNOVATIVE ENERGY GROUP LIMITED Q4–2026 INTERIM REPORT TO OUR SHAREHOLDERS The Directors of Innovative Energy Group Ltd (“IEG”) now release the unaudited group financial statements for the fourth quarter ended May 31, 2026, which have been prepared in accordance with IFRS Accounting Standards. Financial Performance at a Glance Key Financial Highlights and Strategic Impact: The Group continued to strengthen its financial position during the quarter, with Shareholders’ Equity increasing by approximately 3.4% year-over-year, from J$1.02 billion as of May 31, 2025, to J$1.05 billion as of May 31, 2026. Current liabilities increased from J$277.7 million to J$336.3 million (21%). One contributing factor to the increase was the reclassification of a major bank loan from non-current to current liabilities as the remaining repayment term fell below twelve months. This reflects the normal progression of the loan towards maturity rather than the incurrence of new debt. Current liabilities were also influenced by working capital requirements associated with increased business activity and project execution. These working capital requirements were met through a combination of normal financing arrangements and shareholder funding as the Group continued to execute projects. Management continues to carefully manage cash flow, collections, and supplier payment obligations to support ongoing operations and maintain liquidity. Importantly, current assets also increased by approximately 18% year-on-year, from J$449.7 million to J$532.6 million, Quarterly revenue increased significantly year-on-year, from J$29.5 million in the corresponding quarter of the prior year to J$122.6 million in Q4-2025/2026. This improvement reflects stronger project execution, higher conversion of previously secured opportunities into active projects, and the remobilization of projects that had experienced delays earlier in this financial year, partly due to Hurricane Melissa in October 2025. 3

Accordingly, unaudited year-end revenue increased to J$340.5 million, up from J$321.2 million in the prior year, representing approximately 6% year-over-year growth. Improved sales conversion and stronger execution, contributed to the Group’s return to quarterly profitability, with net profit of J$30.8 million, compared with a loss of J$40.9 million in the corresponding quarter of the prior year. Included in the quarterly result is J$13 million of other income arising from the fair value adjustment of investment property. The Group continued working closely with its banking partners to optimize its financing arrangements and support ongoing project execution and working capital requirements. Operational Update and Pipeline As of the end of the financial year, the Group has secured approximately J$900 million in new contracts for execution during the 2026/27 financial year. In addition, previously delayed major projects with an initial contract value of approximately J$1.4 billion have been remobilized and are targeted for completion during the 2026/27 financial year. The execution of these projects provides increased revenue visibility and supports Management’s expectation of continued revenue growth and improved profitability during the 2026/27 financial year. Future Outlook: Management enters FY2026/2027 with considerably stronger project visibility than at the beginning of FY2025/2026. With approximately J$900 million in newly secured contracts, together with the continued execution of previously delayed projects, management expects continued improvement in revenue recognition and cash collections over the next fiscal year. The Board of Directors Per: Date: July 14, 2026 ..................................................... ..................................................... Chairman Director 4

FINANCIAL STATEMENTS 2 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Quarter ended 31-May-2026

000 Quarter ended 31-May-2025
000 Year ended 31-May-2026
000 Year ended 31-May-2025
000 122,550 29,510 340,468 321,208 (61,745) (37,062) (178,979) (112,739) 60,805 (7,552) 161,488 208,469 - - (1) - 15,617 3,314 27,910 4,655 76,422 (4,238) 189,397 213,124 (28,977) (32,489) (128,930) (117,870) 47,445 (36,727) 60,467 95,254 (11,174) (4,152) (19,395) (9,546) 36,271 (40,879) 41,072 85,709 (5,475) - (6,683) (3,516) 30,796 (40,879) 34,389 82,193 $ $ $ $ 0.023 (0.031) 0.026 0.062 Revenue Cost of Sales Gross profit/(loss) Financial Income Other Income Total Income Expenses Operating profit/(loss) Finance costs Net profit/(loss) before taxation Taxation Net profit/(loss) after taxation * Profit/ (Loss) per stock unit *Number of Issued Shares: Year Ended May 31, 2025 & 2026 - 1,316,324,120 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF COMPREHENSIVE INCOME TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 5

3 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Unaudited 31-May-2026 000 Audited 31-May-2025 000 ASSETS Non-current Assets Property, plant and equipment 125,150 144,457 Investment property 60,000 47,000 Intangible assets 2,622,645 2,622,645 2,807,795 2,814,102 Current Assets Inventories 255,176 275,672 Receivables and prepayment 252,715 159,759 Income tax recoverable 2,282 93 Due from Related Party 4,710 4,710 Cash and bank balances 17,675 9,448 532,558 449,682 TOTAL ASSETS 3,340,353 3,263,784 EQUITY & LIABILITIES Equity Share capital 1,284,638 1,284,638 Accumulated deficit (233,268) (267,657) Total Equity 1,051,370 1,016,981 Non-current Liabilities Deferred tax liability 13,183 4,983 Due to Related Party 1,743,813 1,743,813 Long-term loans 195,660 220,307 Total non-current liabilities 1,952,656 1,969,103 Current Liabilities Acounts payables and accruals 101,110 144,330 Due to related party 112,810 24,453 Current portion of long-term loans 23,480 15,188 Deferred Income 11,627 4,912 Taxation payable 77,419 78,936 Capital Distribution payable 9,880 9,881 Total current liabilities 336,326 277,700 TOTAL EQUITY AND LIABILITIES 3,340,353 3,263,784 Director Director Date: Basis of Presentation These financial statements have been prepared in accordance the accounting policies set out in Note 2 of the audited financial statements for the year ended May 31, 2025. INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF FINANCIAL POSITION AS AT MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 6

FINANCIAL STATEMENTS INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN EQUITY TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 4 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CHANGES IN E2UITY TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) Share Capital 000 "ccumulated %eficit 000 Total 000 #alances at May 31, 2024 329,436 (351,035) (21,599) Shares issued 955,201 - 955,201 Other Comprehensive Income Reali[ed gain on investment at fair value through other comprehensive income 1,186 1,186 Net Profit for the year - 82,193 82,193 #alances at May 31, 2025 1,284,637 (267,656) 1,016,981 #alances at May 31, 2025 1,284,638 (267,657) 1,016,981 Total Comprehensive Income for the year - 34,389 34,389 #alances at May 31, 2026 1,284,638 (233,268) 1,051,370 7

FINANCIAL STATEMENTS 5 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31, 2026 (Expressed in Jamaican dollars, unless otherwise indicated) 31-May-2026 000 31-May-2025 000 Cash fMoXs from oQeraUJOH aDUJWJUJes Net Profit 34,389 82,193 "dKustments for %epreciation 19,710 13,407 Interest expense 19,395 9,546 Expected credit loss (12,985) 18,343 Contractor's levy Xritten off - 3,916 Fair value gain on investment property (13,000) - Gain on sale of property plant  eRuipment (450) - Taxation 6,683 3,516 53,742 130,921 Changes in operating assets and liabilities Receivables  prepayments (79,971) (112,486) Inventory 20,496 (5,426) Income tax recoverable (2,189) (93) %ue to Related parties 88,357 (4,710) %eferred Revenue 6,715 4,912 Capital distribution payable (1) 9,880 %ue to Related parties - 24,453 "ccounts payable and accrued charges (43,220) (28,343) 43,930 19,108 Income Tax paid - (8,676) Net cash provided by operating activities 43,930 10,432 Cash fMoXs from IOWesUJOH aDUJWJUJes "dditions to Fixed "ssets (1,853) (603) Proceeds from sale of property, plant  eRuipment 1,900 - Cash acRuired Xith subsidiary 9,016 Net Cash provided by Investing activities 47 8,413 Cash fMoXs from FJOaODJOH aDUJWJUJes Interest paid (19,395) (9,546) Loan repayment (16,355) - Net Cash used in Financing activities (35,750) (9,546) Net increase/(decrease) in cash and cash eRuivalents 8,227 9,299 Cash  cash eRuivalents at beginning of the year 9,448 149 Cash  cash eRuivalents at end of the year 17,675 9,448 INNOVATIVE ENERGY GROUP LIMITED UNAUDITED GROUP STATEMENT OF CASH FLOW TWELVE MONTHS ENDED MAY 31,2026 (Expressed in Jamaican dollars, unless otherwise indicated) 8

FINANCIAL STATEMENTS 6 INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED 31 MAY 2026 1 #USINESS COM#INATION On November 1, 2024, the Company acRuired Innovative Energy Company %#" IEC SPEI Limited, noX a Xholly oXned subsidiary. %etails of the purchase consideration, net assets acRuired and goodXill are as folloXs $ (i) Purchase consideration 2,825,714,654 (ii) GoodXill on acRuisition $ Purchase consideration (2,825,714,654) Less Total net identifiable assets 203,070,124 (2,622,644,530) GoodXill arising on acRuisition (2,622,644,530) 2 ADDITION TO SHARE CAPITAL On May 21, 2025 an additional 770,324,120 ordinary stock units Xere listed, increasing the ordinary shares to 1,316,324,120 units. Share price on that date Xas +$1.24 per share. INNOVATIVE ENERGY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENT TWELVE MONTHS ENDED MAY 31,2026 9

TOP 10 SHAREHOLDERS * 7 INNOVATIVE ENERGY GROUP LIMITED TOP 10 SHAREHOLDERS AT 31 MAY 2026 1,316,32,120  1 IEC ENERGY COMP"NY LIMITE% 984,417,637 74.785 2 NIC)OL"S "NT)ONY )6%SON 35,000,000 2.659 3 TOM"S %6NC"N )6%SON 35,000,000 2.659 4 INFINITI C"PIT"L LIMITE% 30,569,348 2.322 5 CL"6%INE M6RP)Y 26,357,525 2.002 6 STE7EN )6%SON 20,000,000 1.519 7 N,R6M") ONEIL 8ILSON 19,933,436 1.514 8 OPEROR "6CT6S LIMITE% 19,066,093 1.448 9 ,"RL P. 8RIG)T 11,521,500 0.875 10 CL"6%ETTE COO,E 8,632,265 0.656 Sub ToUaM 1,10,,0 01 NO OF SHAREHOLDERS AT 30 02026 +CSD 3,6 MAIN REGISTER 11,36 GRAND TOTAL 1,33 10

DIRECTORS SHAREHOLDINGS 8 INNOVATIVE ENERGY GROUP LIMITED DIRECTORS SHAREHOLDINGS DIRECTORS NAMES SHAREHOLDING CONNECTED PARTY SHAREHOLDING NIGEL %"7Y +ENNIFER %"7Y ,YLE %"7Y NIL IEC ENERGY COMP"NY LIMITE% 984,417,637 8INSTON 8"TSON NIL NIL "L#ERT GOR%ON NIL NIL %ON"L% P"TTERSON NIL NIL CONLEY S"LMON NIL NIL 8"YNE 8R"Y NIL 8ILTS)IRE CONS6LTING  "%7ISORY 3,937,324 GraOd ToUaM ,3,61 11

[email protected] www.innovativeenergy.net E-mail & Web R1 Commercial Park, Unit#14 11-13 Marverly Avenue, Kingston 10 Our Office

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