Tropical Battery Company Limited (TROPICAL) – Interim Financial Statements For The Second Quarter Ended March 31, 2026

TROPICAL BATTERY Stronger For Longer. UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Tropical Battery Company Limited · Jamaica Stock Exchange Main Market · Symbol: TROPICAL For the three and six months ended March 31, 2026

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 2 of 30 Contents This unaudited condensed consolidated interim report has been prepared in accordance with IAS 34 — Interim Financial Reporting and the disclosure requirements of the Jamaica Stock Exchange (JSE) Main Market Rules. It should be read in conjunction with the Group's audited consolidated financial statements for the year ended September 30, 2025. 1. Letter to Shareholders from the CEO 3 2. Financial Highlights at a Glance 5 3. Management Discussion & Analysis 6 4. Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 9 5. Unaudited Condensed Consolidated Statement of Financial Position 11 6. Unaudited Condensed Consolidated Statement of Changes in Equity 13 7. Unaudited Condensed Consolidated Statement of Cash Flows 14 8. Notes to the Unaudited Condensed Consolidated Interim Financial Statements 16 9. Top 10 Shareholders 27 10. Directors' Interests 28 11. Senior Officers' Interests 29 12. Corporate Information 30

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 3 of 30 Letter to Shareholders from the CEO DEAR FELLOW SHAREHOLDERS It is my privilege to share with you the unaudited condensed consolidated interim results of Tropical Battery Company Limited and its subsidiaries (the "Group") for the three and six months ended March 31, 2026. The second quarter of financial year 2026 ma rks the end of the first half of a year in which our Group has demonstrated continued momentum across the principal lines of the income statement and renewed strategic clarity across each of our operating segments. For the half year just ended, the Group delivered gross operating revenue of J$3,263.8 million, a year - on - year increase of approximately 3.1% on the restated comparative period, on which we generated gross profit of J$1,275.1 million — a 22.5% improvement over H1 FY2025 — at a gross margin of approximately 38.4%, up from 32.9% in the restated comparative period. Profit before depreciation, net finance costs and taxation (EBITDA) advanced 101.0% year - on - year to J$354.8 million, and the Group converted a prio r - period net loss attributable to owners of J$100.3 million into a net profit attributable to owners of J$24.4 million — a J$124.7 million swing at the bottom line. Total comprehensive income for the period was J$72.5 million, against a comprehensive loss of J$114.0 million in the restated comparative. Other operating income for the half year of J$92.5 million (H1 FY2025: J$5.4 million) includes a one - off non - cash gain of approximately J$51.6 million arising on the fair - value remeasurement and extinguishment of the contingent consideration originally rec ognised on the January 2024 acquisition of Rose Batteries Company. Excluding this one - off item, recurring underlying EBITDA for H1 FY2026 would have been approximately J$303.2 million, still representing year - on - year growth of approximately 72% over the re stated comparative period. These results validate the strategic decisions taken during the financial year 2025, including our migration to the JSE Main Market on August 19, 2025, the consolidation of Rose Batteries Company into the Group following the January 2024 acquisition, and t he disciplined operational re - engineering executed across the Jamaican core business. They also speak to the resilience of our team — across Jamaica, the United States, and the Dominican Republic — in delivering for our customers and for you, the sharehold ers, in a year that demanded steady execution. SEGMENT PERFORMANCE

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 4 of 30 On an IFRS 8 reportable - segment basis, the Group's Energy Storage segment — which comprises the distribution, retail and service of automotive, industrial, marine and motive - power batteries across Jamaica and the United States — delivered half - year revenue of J$2,895.6 million and operating profit of J$226.8 million. The Renewable Energy Solutions segment — which comprises the design, supply and installation of solar and energy storage systems — delivered half - year revenue of J$368.2 million and operating p rofit of J$54.2 million, with revenue advancing 90.9% over the restated comparative period as the Caribbean solar EPC pipeline continued to convert. Within the operating - entity view, the Jamaican core (Tropical Battery) remains the largest contributor to Group revenue, with Rose Batteries Company in California consolidated for the full comparative period for the first time in H1 FY2026. Tropical Renewa ble Energy advanced sequentially in Q2, Tropical Mobility continued through its transitional phase, and Kaya Energy Group in the Dominican Republic delivered a turnaround in net income. CAPITAL STRUCTURE During the second quarter, management advanced its planning for a senior secured refinancing transaction intended to consolidate the Group's existing US dollar - denominated facilities into a single, longer - dated facility. The objective is to extend tenor, r educe blended cost of capital, and align the Group's debt service profile with the operating cash flow generation of the consolidated business. Discussions with potential lenders remained constructive at period end. Issued ordinary stock units stood at 1,741,890,573 as at March 31, 2026 (Sep 30, 2025: 1,732,918,773), reflecting the issue of 8,971,800 stock units during the period in respect of equity - settled share - based payments to key management personnel. The Group' s controlling shareholder, Dai Diverze (Jamaica) Limited, holds approximately 56% of the issued capital, and the top ten beneficial holders together represent approximately 82.95% of the share register, per the JCSD - certified register dated March 31, 2026. STRATEGIC INITIATIVES Within the operating businesses, three priorities continue to anchor management's attention: first, the deployment of artificial intelligence across customer engagement, inventory management, and operational productivity — a cross - Group programme; second, the refinement of our Entrepreneurial Operating System (EOS) cadence, with quarterly meetings led by external facilitators and supported by clear quarterly objectives at each operating company; and third, continued investment in technical capability and se rvice quality across our seven Jamaican branches, our California operations, and our Dominican Republic offering. OUTLOOK Looking to the second half of financial year 2026, management remains focused on consolidating the operational gains achieved in H1, completing the senior secured refinancing transaction, and continuing to drive disciplined cost management and margin prote ction across each operating segment. Additionally, we are pleased to report that our Tropical Battery Amazon storefront is now live, marking an important step in broadening our direct - to - consumer reach in North America and other markets. While the macroeconomic environment in our principal markets remains broadly constructive, we continue to navigate input cost volatility, US dollar interest rate dynamics, and the timing of solar EPC project closings — all of which we monitor closely in our integrated planning cadence. On behalf of the Board, I wish to thank our shareholders for your continued support, our customers for your loyalty, and the team members across Tropical Battery, Rose Batteries, Tropical Renewable Energy, Tropical Mobility, Tropical Finance, and Kaya Ener gy for their dedicated work, which made these results possible. Yours sincerely, Alexander "Zander" Melville Chief Executive Officer Tropical Battery Company Limited Kingston, Jamaica · May 2026

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 5 of 30 Financial Highlights at a Glance For the half year ended March 31, 2026, presented in Jamaican Dollars and on the same IFRS basis as the audited consolidated financial statements of the Group for the year ended September 30, 2025. REVENUE J$3.26B +3.1% YoY GROSS PROFIT J$1.28B +22.5% YoY EBITDA J$355M +101.0% YoY NET INCOME* J$24M Turnaround KEY DRIVERS · Margin expansion. Gross margin lifted to 38.4% from 32.9% in the restated comparative half year, reflecting improvements in product mix, pricing discipline across the Group, and the consolidation of higher - margin Rose Batteries revenue. · Operating leverage. EBITDA grew 101.0% on revenue growth of 3.1%, evidencing meaningful operating leverage and overhead absorption. · Net income turnaround. Bottom - line attributable to owners of the parent swung from a restated loss of J$100 million to a positive contribution of J$24 million — a J$124 million improvement. · Capital structure. Refinancing initiatives progressed during the quarter to extend tenor and reduce the blended cost of capital. Net current asset position improved to J$582 million from negative J$178 million in the restated comparative. * Net income attributable to owners of the parent. H1 FY2025 figures are restated; refer to Note 16.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 6 of 30 Management Discussion & Analysis The following discussion and analysis should be read in conjunction with the unaudited condensed consolidated interim financial statements and accompanying notes that follow. All references to dollars are to Jamaican Dollars (J$ or JMD) unless otherwise st ated. References to Rose Batteries and Kaya Energy results in US Dollars (USD) reflect their respective functional currencies and are translated to JMD on consolidation. Group Overview Tropical Battery Company Limited (TBCL or the Company) is a Jamaican incorporated public company listed on the Main Market of the Jamaica Stock Exchange under the symbol TROPICAL. The Group's parent company is Dai Diverze (Jamaica) Limited, and its ultimat e parent is Diverze Assets Inc. The Group operates principally in Jamaica, the United States, and the Dominican Republic, and reports two operating segments in accordance with IFRS 8: Energy Storage and Renewable Energy Solutions. Revenue & Segment Mix Group gross operating revenue for the half year ended March 31, 2026, amounted to J$3,263.8 million, an increase of J$98.3 million, or 3.1%, over the comparative period. The principal drivers of revenue growth were a 90.9% advance in the Renewable Energy S olutions segment — driven primarily by Tropical Renewable Energy's solar EPC pipeline and Kaya Energy's project deliveries — together with continued momentum in the Energy Storage core. The composition of half - year revenue by reportable segment is presente d below. Revenue by product category, per Note 12, was led by net battery sales of J$2,644.4 million (H1 FY2025: J$2,726.1 million) and renewable energy sales of J$304.8 million (H1 FY2025: J$98.2 million) — the latter representing a 210.3% year - on - year increase th at reflects the strategic build - out of the Group's Caribbean renewables platform.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 7 of 30 Gross Margin Gross margin for the half year ended March 31, 2026, was 38.4%, compared to 32.9% in the restated comparative period. The improvement reflects three factors: a richer product mix in the Jamaican core business, pricing discipline across the Group, and the c onsolidation of higher - margin Rose Batteries Company revenue for the full comparative period. The trajectory of quarterly gross margin is presented below. Net Income Turnaround The Group's net income attributable to owners of the parent swung from a restated loss of J$100.3 million in H1 FY2025 to a profit of J$24.4 million in H1 FY2026 — an improvement of J$124.7 million. Total net income for the Group (before allocation to non - controlling interests) was J$37.3 million, compared with a restated loss of J$106.8 million in the comparative period. The principal contributors to the turnaround were gross margin expansion (a J$234.1 million increase in gross profit) and disciplined abs orption of net finance costs, partially offset by higher administration, marketing, and other operating expenses (a J$124.2 million increase), reflecting the full inclusion of Rose Batteries' operating costs. Other operating income of J$73.8 million (H1 FY2025: J$5.4 million) includes a one - off non - cash gain of approximately J$51.6 million arising on the fair - value remeasurement and extinguishment of the contingent consideration in respect of the January 2024 R ose Batteries Company acquisition. On an underlying basis, adjusting for this one - off item, recurring EBITDA for H1 FY2026 would be approximately J$303.2 million (H1 FY2025 restated: J$176.6 million), representing year - on - year growth of approximately 72%. Interest of approximately J$18.7 million earned on related - party current - account balances is presented within finance income.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 8 of 30 Accounts Receivable Composition Trade receivables decreased to J$541.2 million at March 31, 2026 (Sep 30, 2025: J$1,187.5 million), a J$646.3 million reduction reflecting concerted collections activity and the unwind of seasonal year - end customer balances. Over the same period, other rec eivables increased to J$453.5 million (Sep 30, 2025: J$233.4 million), up J$220.1 million. The increase in other receivables principally reflects amounts receivable in respect of a large renewable energy project being delivered by Tropical Renewable Energy for the Ministry of Energy, Transportation and Telecommunications (MSETT). Gross accounts receivable, before allowances and the reclassification of the long - term loan receivable to non - current other receivables, decreased to J$994.7 million (Sep 30, 2025: J$1,420.9 million), a 30% reduction over the half - year. Cash Flow & Liquidity The Group generated net cash from operating activities of J$430.6 million during the half year, against a net outflow of J$107.3 million in the restated comparative period — driven by improved operating earnings and a substantial release of working capital , principally from the collection of trade receivables (J$422.2 million reduction) and inventory drawdown (J$180.4 million reduction). Capital expenditure on property, plant and equipment was J$78.7 million (H1 FY2025: J$92.8 million). Net cash used in fin ancing activities was J$231.0 million, reflecting the net repayment of short - term loans (J$163.8 million) and the scheduled repayment of long - term loans (J$50.9 million). Cash and cash equivalents stood at J$341.4 million at period end (Sep 30, 2025: J$211 .5 million). Capital Structure Total interest - bearing borrowings at March 31, 2026, stood at J$4,491.1 million, comprising short - term loans of J$962.5 million (principally the CIBC FirstCaribbean USD bridge loan of J$885.9 million), long - term loans of J$3,209.3 million (of which J$454.4 million is current portion), and lease liabilities of J$319.3 million. The largest single long - term facility is the convertible cumulative redeemable preference equity issued in January 2024 with a carrying value of J$2,313.6 million. Total equity stood a t J$1,678.3 million (Sep 30, 2025: J$1,597.9 million), of which J$1,620.6 million is attributable to owners of the parent. Outlook Management remains focused on consolidating the operating gains achieved during the half year, completing the senior secured refinancing transaction currently in advanced discussion, and progressing the Group - wide artificial intelligence and operating syst em initiatives. We are also pleased to note that our Tropical Battery Amazon storefront has launched, starting with our popular windscreen wash, then adding other products, further extending our U.S. direct - to - consumer channel. While the macroeconomic environment in the Group's principal markets remains broadly constructive, the Group will c ontinue to monitor input cost dynamics, US dollar interest rate movements, and the timing of solar EPC project closings.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 9 of 30 Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the three and six months ended March 31, 2026 (J$ thousands unless otherwise stated) Note Q2 FY2026 Q2 FY2025* H1 FY2026 H1 FY2025* Three and six months ended March 31, 2026 Unaudited Restated* Unaudited Restated* Gross operating revenue 12 1,631,710 1,629,226 3,263,841 3,165,559 Cost of goods sold (1,018,572) (1,062,591) (1,988,788) (2,124,563) Gross profit 613,138 566,636 1,275,053 1,040,996 Administration, marketing and other operating expenses (499,819) (434,728) (993,988) (869,777) Operating profit 113,319 131,907 281,065 171,219 Other operating income 19,812 2,211 73,778 5,358 Profit before depreciation, net finance costs and taxation (EBITDA) 133,131 134,119 354,843 176,577 Depreciation and amortisation (49,179) (31,711) (94,235) (66,635) Profit before net finance costs and taxation 83,952 102,407 260,608 109,942 Finance costs (147,560) (132,312) (272,608) (266,365) Finance income 58,523 26,136 68,605 49,725 Net finance costs (89,037) (106,175) (204,003) (216,640) Profit / (Loss) before taxation (5,084) (3,768) 56,605 (106,698) Taxation (9,391) (141) (19,354) (141) Profit / (Loss) for the period (14,475) (3,909) 37,251 (106,839) Profit / (Loss) attributable to: Owners of the Company (34,068) (5,445) 24,424 (100,257) Non - controlling interest 14 19,593 1,536 12,827 (6,582) (14,475) (3,909) 37,251 (106,839) Other Comprehensive Income / (Loss) Items that will not be reclassified to profit or loss: Currency translation differences (4,381) 25,282 35,224 (7,150)

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 10 of 30 (J$ thousands unless otherwise stated) Note Q2 FY2026 Q2 FY2025* H1 FY2026 H1 FY2025* Other comprehensive income / (loss) for the period (4,381) 25,282 35,224 (7,150) Total comprehensive income / (loss) for the period (18,856) 21,372 72,475 (113,989) Total comprehensive income / (loss) attributable to: Owners of the Company (39,769) 18,735 59,635 (107,608) Non - controlling interest 20,914 2,638 12,840 (6,381) (18,856) 21,372 72,475 (113,989) Earnings per stock unit (J$) Basic and diluted (0.0197) (0.0040) 0.0141 (0.0732) * Restated — refer to Note 16. The accompanying notes are an integral part of these condensed consolidated interim financial statements.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 11 of 30 Unaudited Condensed Consolidated Statement of Financial Position As of March 31, 2026 (J$ thousands) Note Mar 31, 2026 Mar 31, 2025* Sep 30, 2025 As at: Unaudited Restated* Audited CURRENT ASSETS Cash and cash equivalents 3 341,359 220,859 211,454 Accounts receivable 4 960,596 981,564 1,384,624 Due from related parties 5(b)(i) 524,831 539,055 464,519 Due from parent company 5(b)(ii) 50,467 58,143 49,428 Inventories 6 1,357,038 1,635,951 1,537,436 Taxation recoverable 984 1,010 947 Total current assets 3,235,275 3,436,582 3,648,408 CURRENT LIABILITIES Accounts payable 7 1,140,566 1,485,398 1,512,505 Short - term loans 8 962,497 2,008,193 1,426,256 Due to related parties 5(b)(iii) 16,389 0 16,615 Current portion of lease liabilities 58,858 23,794 55,520 Taxation payable 20,840 0 4,514 Current portion of long - term loans 11 454,411 96,855 362,068 Total current liabilities 2,653,561 3,614,240 3,377,478 NET CURRENT ASSETS / (LIABILITIES) 581,714 (177,658) 270,930 NON - CURRENT ASSETS Other receivables 4 18,458 0 20,623 Intangible assets 58,881 90,305 64,390 Goodwill 2,965,129 2,898,756 2,965,129 Property, plant and equipment 1,315,886 1,247,577 1,303,277 Right - of - use assets 308,359 47,902 343,770 Employee benefits assets 9 0 33,211 0 Interest in joint venture 5,000 5,000 5,000

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 12 of 30 (J$ thousands) Note Mar 31, 2026 Mar 31, 2025* Sep 30, 2025 Deferred tax asset 38,203 0 38,203 Total non - current assets 4,709,916 4,322,751 4,740,392 TOTAL NET ASSETS 5,291,630 4,145,093 5,011,322 Represented by: SHAREHOLDERS' EQUITY Share capital 10 915,324 267,397 907,460 Capital contribution 459,208 459,208 459,208 Accumulated profit 296,029 189,194 271,605 Foreign currency translation (49,936) (2,080) (85,147) Equity attributable to owners 1,620,625 913,718 1,553,126 Non - controlling interest 14 57,631 35,388 44,792 Total equity 1,678,256 949,106 1,597,917 NON - CURRENT LIABILITIES Due to fellow subsidiary 5(b)(iv) 531,331 500,000 517,516 Lease liabilities 260,413 26,476 299,088 Employee benefits obligation 9 66,755 0 66,755 Long - term loans 11 2,754,877 2,652,457 2,530,045 Deferred tax liability 0 17,055 0 Total non - current liabilities 3,613,375 3,195,987 3,413,404 TOTAL EQUITY AND NON - CURRENT LIABILITIES 5,291,630 4,145,093 5,011,322 The financial statements were approved for issue by the Board of Directors on t he 21 st of May 2026 and signed on its behalf by: ___________________________________ ___________________________________ Marc Melville Alexander Melville Director Director * Restated, see Note 16. The accompanying notes are an integral part of these condensed consolidated interim financial state ments.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 13 of 30 Unaudited Condensed Consolidated Statement of Changes in Equity For the six months ended March 31, 2026 (J$ thousands) Share capital FX translation Capital contribution Accumulated profit Owners NCI Total Restated balance at October 1, 2024 254,013 5,270 459,208 289,451 1,007,943 41,769 1,049,712 Restated loss for the period 0 0 0 (100,257) (100,257) (6,582) (106,839) Currency translation differences 0 (7,350) 0 0 (7,350) 200 (7,150) Total comprehensive income / (loss) 0 (7,350) 0 (100,257) (107,608) (6,381) (113,989) Equity - settled share - based payments 13,383 0 0 0 13,383 0 13,383 Restated balance at March 31, 2025 267,397 (2,080) 459,208 189,194 913,718 35,388 949,106 Audited balance at September 30, 2025 907,460 (85,147) 459,208 271,605 1,553,126 44,792 1,597,917 Profit for the period 0 0 0 24,424 24,424 12,827 37,251 Currency translation differences 0 35,211 0 0 35,211 13 35,224 Total comprehensive income 0 35,211 0 24,424 59,635 12,840 72,475 Equity - settled share - based payments 7,864 0 0 0 7,864 0 7,864 Balance at March 31, 2026 (Unaudited) 915,324 (49,936) 459,208 296,029 1,620,625 57,631 1,678,256 The accompanying notes are an integral part of these condensed consolidated interim financial statements.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 14 of 30 Unaudited Condensed Consolidated Statement of Cash Flows For the six months ended March 31, 2026 (J$ thousands) H1 FY2026 H1 FY2025* Six months ended March 31: Unaudited Restated* CASH FLOWS FROM OPERATING ACTIVITIES Profit / (Loss) for the period 37,251 (106,839) Adjustments to reconcile profit / (loss) to net cash: Depreciation and amortisation 94,235 66,635 Taxation 19,354 141 Interest on loans 269,005 264,076 Interest on lease liabilities 4,070 1,418 Amortisation of debt issuance costs 10,881 22,496 Interest income (18,961) (26,304) Unrealised foreign exchange (gain) / loss 1,376 (1,580) Foreign currency translation differences 35,224 (7,150) Loss on disposal of property, plant and equipment 2,005 0 Fair value of contingent consideration (51,638) 0 Equity - settled share - based payment 7,864 13,383 Operating cash flow before working capital changes 410,665 226,276 Changes in working capital: Accounts receivable 422,201 (6,725) Due from / (to) related companies (60,538) (130,279) Due from parent company (1,039) (2,031) Inventories 180,398 (5,985) Payables (321,106) 54,198 Cash generated by / (used in) operations 630,581 135,455 Interest received 18,961 26,304 Interest paid (215,875) (268,902) Taxation paid (3,065) (176) Net cash provided by / (used in) operating activities 430,602 (107,319) CASH FLOWS FROM INVESTING ACTIVITIES

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 15 of 30 (J$ thousands) H1 FY2026 H1 FY2025* Proceeds from disposal of property, plant and equipment 8,426 0 Other receivables 3,991 0 Acquisition of intangible assets (2,091) (3,582) Purchase of property, plant and equipment (78,679) (92,824) Net cash used in investing activities (68,354) (96,407) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short - term loans 63,434 0 Repayment of short - term loans (227,193) 0 Repayment of long - term loans (50,905) (34,536) Due to fellow subsidiary 13,815 0 Payment of lease liabilities (30,117) (3,613) Net cash used in financing activities (230,967) (38,150) Net increase / (decrease) in cash and cash equivalents 131,281 (241,876) Cash and cash equivalents at beginning of period 211,454 461,674 Effect of exchange rate fluctuations (1,376) 1,060 Cash and cash equivalents at end of period 341,359 220,859 * Restated, see Note 16. The accompanying notes are an integral part of these condensed consolidated interim financial statem ents.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 16 of 30 Notes to the Unaudited Condensed Consolidated Interim Financial Statements For the three and six months ended March 31, 2026 All figures are expressed in Jamaican Dollars (J$). Tabular amounts are presented in J$ thousands unless otherwise stated. Prior - period comparatives have been restated; refer to Note 16. Note 1. Corporate structure and principal activities Tropical Battery Company Limited (the "Company") is incorporated and domiciled in Jamaica. The Company's registered office is located at 30 Automotive Parkway, Kingston 20, Jamaica. The Company's stock units were originally listed on the Junior Market of the Jamaica Stock Exchange (JSE) and migrated to the Main Market of the JSE on August 19, 2025, where they trade under the symbol "TROPICAL". Dai Diverze (Jamaica) Limited is the Company's parent, incorporated in Saint Lucia. The ultimate parent is Diverze Assets Inc., also incorporated in Saint Lucia. These condensed consolidated interim financial statements present the results of operations and financial position of the Company and its subsidiaries (together, the "Group"). The Group's subsidiaries at the reporting date are as follows: Subsidiary Domicile of incorporation Group ownership Tropical Battery (USA) LLC United States of America 100% Rose Electronics Distributing Company LLC United States of America 100% Tropical Mobility Limited Jamaica 100%* Tropical Renewable Energy Limited Jamaica 100%* Tropical Finance Limited Jamaica 100%* Kaya Energy Group, SRL Dominican Republic 51% * On December 31, 2025, the Company acquired the remaining minority interests of 5% in each of Tropical Mobility Limited, Tro pical Renewable Energy Limited and Tropical Finance Limited, moving Group ownership in those three subsidiaries from 95% to 100%. Joint venture: EnRvate Limited (Jamaica) — 50%. The Group's primary activities are the distribution, retail and service of automotive, industrial, marine and motive - power energy storage solutions; the design and manufacture of custom and mission - critical battery systems; the design, supply and installat ion of commercial and industrial solar and energy storage systems; and ancillary on - the - go battery service activities. The Group operates principally in Jamaica, the United States, and the Dominican Republic. Note 2. Statement of compliance and basis of preparation (a) Statement of compliance These condensed consolidated interim financial statements have been prepared in accordance with IAS 34 — Interim Financial Reporting. They do not include all of the information and disclosures required in a complete set of annual financial statements. They should be read in conjunction with the audited consolidated financial statements of the Group for the year ended September 30, 2025. New and amended standards issued but not yet effective

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 17 of 30 At the date of authorisation of these financial statements, the following new and amended standards were issued but not yet effective and have not been adopted early by the Group: • IFRS 18 — Presentation and Disclosure in Financial Statements (effective for annual periods beginning on or after January 1, 2027); and • Amendments to the Classification and Measurement of Financial Instruments — Amendments to IFRS 9 and IFRS 7 (effective for annual periods beginning on or after January 1, 2026). The Group is currently assessing the impact of these new and amended standards. (b) Basis of preparation Items included in the financial statements of each entity in the Group are measured in the currency of the primary economic environment in which the entity operates (its functional currency). The condensed consolidated interim financial statements are pres ented in Jamaican Dollars (J$), which is the Company's functional and presentation currency. The financial statements are prepared under the historical cost convention as modified for the revaluation of certain financial instruments measured at fair value. The preparation of interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may di ffer from these estimates. Note 3. Cash and cash equivalents Cash and cash equivalents comprise: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Cash and bank balances 305,352 178,680 Short - term investments 36,008 32,774 Total cash and cash equivalents 341,360 211,454 Short - term investments earn interest at rates ranging from 1.5% to 2% per annum (Sep 30, 2025: 1.5% to 2% per annum) and have origi nal maturities of less than three months from the date of placement. Note 4. Accounts receivable Accounts receivable comprise: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Trade receivables 541,160 1,187,495 Other receivables 453,512 233,386 Gross receivables 994,672 1,420,881 Less: Allowance for impairment loss (15,617) (15,634) Less: Other receivables — non - current portion (18,458) (20,623) Accounts receivable — current portion 960,596 1,384,624 Other receivables — non - current This represents the long - term portion of a loan receivable from a customer of J$18.5 million (September 30, 2025: J$20.6 million). The loan was granted on January 1, 2025 and is repayable in monthly instalments of principal and interest of J$671,354. The l oan bears interest at a rate of 15% per annum and matures on December 31, 2029. Note 5. Related party balances and transactions (a) Identity of related parties

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 18 of 30 The Company has related party relationships with its ultimate parent (Diverze Assets Inc.), its parent (Dai Diverze (Jamaica) Limited), fellow subsidiaries within the Diverze Assets Group, its joint venture (EnRvate Limited), its directors, key management personnel, and other related companies controlled by key management personnel. (b) Statement of financial position balances arising in the ordinary course of business with related parties (i) Due from related parties — current (J$ thousands) Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Chukka Caribbean Adventure Limited (Jamaica) 2,441 3,792 Reside Realty Limited 2,028 40 Diverze Properties Limited 455,644 400,147 EnRvate Limited (joint venture) 33,614 23,304 Directors' current accounts 31,105 37,236 Total — current 524,831 464,519 These balances are unsecured, attract no fixed repayment terms and are interest - free unless otherwise indicated. The Directors' current accounts and the balance due from Diverze Properties Limited earn interest at a commercial rate determined by the Board. (ii) Due from parent company — current (J$ thousands) Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Dai Diverze (Jamaica) Limited 50,467 49,428 Total 50,467 49,428 This balance is unsecured, attracts no fixed repayment terms and earns interest at market rates. (iii) Due to related parties — current (J$ thousands) Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) EnRvate Limited (joint venture) 16,389 16,389 Diverze Properties Limited 0 226 Total — current 16,389 16,615 These balances are unsecured, attract no fixed repayment terms and are interest - free. (iv) Due to the fellow subsidiary — non - current (J$ thousands) Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Diverze Properties Limited 531,331 517,516 Total 531,331 517,516 The balance comprises: (a) An unsecured loan of J$500,000,000 to the Company, bearing interest at 11% per annum and not repayable before September 2027. (b) An unsecured loan of US$110,000 to Tropical Battery (USA) LLC, bearing interest at 11% per annum and not repayable before Sep tember 2028.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 19 of 30 (c) Statement of profit or loss balances arising in the ordinary course of business with related parties Compensation for key management: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Short - term benefits 104,539 76,215 Share - based payments 7,864 13,383 Transactions with fellow subsidiary (Diverze Properties Limited): Interest on lease liabilities 938 4,520 Lease payments 3,600 9,880 Interest of approximately J$18.7 million earned during the period on related - party current - account balances is presented within finance income on the Statement of Profit or Loss. Note 6. Inventories Inventories comprise: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Raw materials 462,889 473,225 Work in progress 35,825 8,649 Finished goods (batteries, oils, accessories, solar) 644,545 823,058 Inventories in transit 220,130 238,916 Gross inventories 1,363,390 1,543,848 Less: Allowance for obsolescence (6,352) (6,412) Total inventories 1,357,038 1,537,436 Note 7. Accounts payable Accounts payable comprise: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Mar 31, 2025* (Restated) Trade payables 777,497 1,043,390 966,090 Contingent payment payable — Rose Electronics 0 91,235 0 Accruals 299,024 247,230 362,837 Other payables 64,045 130,649 156,471 Total accounts payable 1,140,566 1,512,505 1,485,398 * H1 FY2025 comparative restated; see Note 16. Contingent payment payable — Rose Electronics The contingent consideration of J$91,235,305 outstanding as at September 30, 2025, arose from the January 2024 acquisition of Rose Electronics Distributing Company LLC (Rose Batteries) and was settled in full during the half year. Performance targets speci fied in the share purchase agreement were partially achieved, resulting in a cash settlement of J$39,597,728 paid to the former owners. The remaining balance of J$51,637,577 was derecognised as no further performance obligation existed; the corresponding g ain has been recognised within Other operating income on the consolidated Statement of Profit or Loss and added back as a non - cash item under "Fair value of contingent consideration" on the consolidated Statement of Cash Flows.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 20 of 30 Memorandum disclosure — composition of goodwill There has been no change in goodwill during the six months ended March 31, 2026. The carrying value at the reporting date is reconciled to the audited carrying value as at September 30, 2025, below for completeness. Carrying value: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Rose Electronics Distributing Company LLC (acquired January 2024) 2,897,535 2,897,535 Kaya Energy Group, SRL (acquired April 2023) 67,594 67,594 Total goodwill 2,965,129 2,965,129 Goodwill is allocated to the relevant cash - generating units and is tested annually for impairment in accordance with IAS 36 — Impairment of Assets. The next annual impairment test will be performed at the year - end reporting date of September 30, 2026. Mana gement has assessed on March 31, 2026, that there are no indicators of impairment. Note 8. Short - term loans Short - term loans comprise: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) (a) Bond — April 2025 0 300,000 (b) CIBC FirstCaribbean — USD bridge loan 885,869 885,869 (c) Lines of credit 76,628 240,387 Total short - term loans 962,497 1,426,256 (a) In April 2019, the Company authorised the private placement of secured J$ notes for an aggregate principal amount of J$300 mi llion. These notes attracted interest at a rate of 7.5% per annum up to April 10, 2024. Effective April 11, 2024, certain terms wit hin the Trust Deed were amended. This bond was subsequently extended and reclassified as long - term — refer to Note 11(g). (b) Represents a Senior Secured Bridge Loan from CIBC Caribbean of US$9.5 million. The bridge loan was issued in June 2024 and re placed the US$9 million loan previously held with Sygnus Credit Investments Limited. It is secured by a second debenture over prese nt and future property and assets and by corporate guarantees, and bears interest at 8.5% per annum. The loan’s maturity date was extended to June 24, 2026. On Aug ust 21, 2025, US$4,000,624 was repaid on the loan. (c) Two subsidiaries within the Group have approved short - term revolving credit lines of up to US$1,500,000 and RD$5 million, of which the amounts shown were drawn. The facilities attract annual interest rates of 8.58% and 16.95%, respectively. Note 9. Employee benefits Recognised pension liability: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Present value of funded obligations (309,196) (309,196) Fair value of plan assets 242,441 242,441 Net recognised pension liability (66,755) (66,755) The Group operates a defined benefit pension plan for eligible employees. Plan assets and obligations are measured at the mos t recent actuarial valuation date and updated at each reporting date for material changes only. No actuarial update has been perfor med between September 30, 2025 and March 31, 2026.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 21 of 30 Note 10. Share capital Authorised: No maximum number of ordinary stock units. Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Mar 31, 2025* (Restated) Issued and fully paid: 1,741,890,573 (Sep 30, 2025: 1,732,918,773; Mar 31, 2025: 1,369,377,273) ordinary stock units of no par value 915,324 907,460 267,397 * Restated; see Note 16. During the period, 8,971,800 ordinary stock units were issued in respect of equity - settled share - based payments to key management personnel, recognised at an aggregate value of J$7,864,488 (implied weighted - average issue value of J$0.877 per stock unit). T he increase in the share capital balance from September 30, 2025, to March 31, 2026, reflects the recognition of the value of share - based payment awards vested in the period in accordance with IFRS 2 — Share - based Payment. Note 11. Long - term loans Long - term loans comprise: Mar 31, 2026 (Unaudited) Sep 30, 2025 (Audited) Mar 31, 2025* (Restated) (a) Related party loan 5,613 5,685 5,723 (b) Bank loan 40,000 60,000 80,000 (c) Stewart Finance Jamaica Limited 16,302 17,307 18,436 (d) Bond — April 2026 248,000 248,000 248,000 (e) Convertible Cumulative Redeemable Preferred Equity 2,313,641 2,245,561 2,055,155 (f) CIBC Caribbean loan 264,643 292,500 320,357 (g) Bond — July 2027 300,000 0 0 (h) Other long - term loans 21,090 23,060 21,640 Total long - term loans 3,209,289 2,892,113 2,749,311 Less: Current portion (454,411) (362,068) (96,855) Non - current portion 2,754,878 2,530,045 2,652,456 (a) The Company has an unsecured loan from the ultimate parent company. The loan carries an interest rate of 11% per annum and ma tures in October 2027. (b) Represents a loan facility obtained in June 2022 from First Caribbean International Bank Limited for J$200 million. A promiss ory note secures the loan, attracts interest at 6.75% per annum and matures in October 2027. (c) Represents a motor vehicle loan facility from Stewart Finance Jamaica Limited for J$23.7 million. The loan is secured by the motor vehicle, attracts an interest rate of 13% per annum, and matures in November 2030. (d) In February 2023, the Company authorised the private placement of secured J$ notes for an aggregate principal amount of J$250 million. These notes attract interest at 11% per annum and mature in April 2026. (e) On January 29, 2024, the Company issued US$13 million of Convertible Cumulative Redeemable Preferred Equity to Sygnus Credit Investments Limited. Interest is payable quarterly and attracts interest at 10% per annum. Dividend is capitalised quarterly at the rate of 5% and is payable upon maturity. The instrument matures in January 2027. Before the reporting date, discussions were held with Sygnus Credit Investm ents Limited, and no objection was raised to extending the facility by six months to July 2027 . All other material terms of the instrument remain the same. The instrument is classified as a financial liability in accordance with IAS 32 and is measured at amortised cost. (f) The CIBC Caribbean loan facility commenced in October 2023 for a tenor of seven years. Interest is payable quarterly and attr acts a fixed rate of 8.5% per annum for the first two years. Thereafter, interest is charged at the 3 - month Weighted Average Treasu ry Bill Yield (WATBY) plus 2%, with the interest rate reset at the most recent 3 - month WATBY immediately before each reset date. The facility has a WATBY floor of 3%, which is itself subject to review. (g) In April 2019, the Company authorised the private placement of secured J$ notes for an aggregate principal amount of J$300 mi llion. These notes attracted interest at a rate of 7.5% per annum up to April 10, 2024. Effective April 11, 2024, certain terms wit hin the Trust Deed were amended; during the current period, the notes were refinanced into a new J$300 million bond maturing in July 2027. See also Note 8(a). (h) These are unsecured loans with varying interest rates from 8% to 15.95% and varying maturities.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 22 of 30 * Restated; see Note 16. Note 12. Gross operating revenue Gross operating revenue represents the invoiced value of goods sold and services rendered, net of discounts, returns and general consumption tax. Revenue disaggregated by product / service line (six months ended March 31): Mar 31, 2026 (Unaudited) Mar 31, 2025 (Unaudited) Net battery sales 2,644,395 2,726,123 Net tyre sales 78 1,361 Renewable energy sales 304,767 98,211 Accessories 332,326 365,962 Gross sales before discounts 3,281,566 3,191,657 Less: Discounts on all products (17,725) (26,098) Net gross operating revenue 3,263,841 3,165,559 Note 13. Contingent liabilities The Company has guaranteed a J$125 million loan made to a related party. No claim has been made under the guarantee, and management considers the likelihood of a call on the guarantee to be remote, given the borrower's current and projected financial posit ion. Note 14. Non - controlling interest The Group's non - controlling interest arises from the 49% minority shareholding in Kaya Energy Group, SRL, the Group's Dominican Republic subsidiary. Movements during the period were as follows: Six months ended March 31: Mar 31, 2026 (Unaudited) Mar 31, 2025 (Unaudited) Balance at beginning of period 44,792 41,769 Profit / (loss) for the period 12,827 (6,582) Currency translation differences 13 200 Balance at end of period 57,632 35,387 Note 15. Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the Group's chief operating decision - maker. The Group has identified two reportable segments under IFRS 8 — Operating Segments: • Energy Storage — the sale and distribution of automotive, industrial, marine and motive - power batteries and related accessories, including the manufacture and distribution of custom and mission - critical battery solutions; and • Renewable Energy Solutions — the design, supply and installation of commercial and industrial solar and energy storage systems, and related professional services. Revenue and operating profit by reportable segment for the six months ended March 31, 2026 and the comparative period are set out below. There has been no material change in the basis of segmentation or in the measurement of segment results since the most recent annual financial statements. Detailed segment information, including profit before tax, total assets and total liabilities by reportable segment, will be presented in the audited financial statements for the year ending September 30, 2026. Six months ended March 31, 2026

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 23 of 30 (J$ thousands) Energy Storage Renewable Energy Total H1 FY26 Total H1 FY25* Revenue 2,895,598 368,243 3,263,841 3,165,559 Operating profit 226,819 54,246 281,065 171,219 Six months ended March 31, 2025 (Restated) (J$ thousands) Energy Storage Renewable Energy Total H1 FY25* Revenue 2,972,761 192,798 3,165,559 Operating profit 144,668 26,551 171,219 Reconciliation of segment operating profit to consolidated profit / (loss) before tax (J$ thousands) H1 FY2026 H1 FY2025* Total segment operating profit 281,065 171,219 Other operating income 73,778 5,358 Depreciation and amortisation (94,235) (66,635) Net finance costs (204,003) (216,640) Consolidated profit / (loss) before tax 56,605 (106,697) * Restated, see Note 16.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 24 of 30 Note 16. Prior year restatements During the period, management identified two errors in the previously reported comparative financial information for the six months ended March 31, 2025, which have been corrected by way of restatement in accordance with IAS 8 — Accounting Policies, Change s in Accounting Estimates and Errors: (i) Interest expense. Interest expense on the US$13 million Convertible Cumulative Redeemable Preferred Equity issued in January 2024 had not been fully accrued in the prior period; and (ii) Share - based payment transactions. The Company and its subsidiaries did not previously account for equity - settled share - based payment awards to key management personnel in accordance with IFRS 2 — Share - based Payment. The above errors have been corrected by restating each affected line item in the comparative financial statements. The effect of the restatements on the Group's prior - period financial statements is summarised below. (a) Statement of Financial Position — at March 31, 2025 (J$ thousands) As previously reported Adjustments As restated Current assets 3,436,582 0 3,436,582 Current liabilities: Accounts payable 1,501,730 (16,332) 1,485,398 Other current liabilities 2,128,842 0 2,128,842 Total current liabilities 3,630,572 (16,332) 3,614,240 Net current assets / (liabilities) (193,990) 16,332 (177,658) Non - current assets 4,322,751 0 4,322,751 Total 4,128,761 16,332 4,145,093 Shareholders' equity: Share capital 328,356 (60,959) 267,397 Capital contribution 295,140 164,068 459,208 Accumulated profit 293,163 (103,970) 189,194 Foreign currency translation (2,080) 0 (2,080) Equity attributable to owners 914,579 (861) 913,718 Non - controlling interest 35,388 0 35,388 Total equity 949,967 (861) 949,106 Non - current liabilities: Long - term loans 2,635,264 17,193 2,652,457 Other non - current liabilities 543,531 0 543,531 Total non - current liabilities 3,178,794 17,193 3,195,987 Total equity and non - current liab. 4,128,761 16,332 4,145,093 (b) Statement of Profit or Loss — six months ended March 31, 2025 (J$ thousands) As previously reported Adjustments As restated Gross profit 1,040,996 0 1,040,996

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 25 of 30 (J$ thousands) As previously reported Adjustments As restated Administration, marketing and selling expenses (856,394) (13,383) (869,777) Operating profit 184,602 (13,383) 171,219 Other income 5,358 0 5,358 Profit before depreciation, net finance costs and tax 189,961 (13,383) 176,577 Depreciation (66,635) 0 (66,635) Profit before net finance costs and tax 123,325 (13,383) 109,942 Net finance costs (216,640) 0 (216,640) (Loss) / Profit before tax (93,314) (13,383) (106,697) Taxation (141) 0 (141) (Loss) / Profit for the period (Loss) / Profit attributable to: Owners of the Company (86,874) (13,383) (100,257) Non - controlling interest (6,582) 0 (6,582) (93,456) (13,383) (106,839) Currency translation differences (OCI) (7,150) 0 (7,150) Total comprehensive income / (loss) Earnings per stock unit (J$) (0.0634) — (0.0732) (c) Statement of Cash Flows — six months ended March 31, 2025 (J$ thousands) As previously reported Adjustments As restated Cash flows from operating activities: Net loss for the period (93,456) (13,383) (106,839) Equity - settled share - based payments 0 13,383 13,383 Other reconciling items 319,732 0 319,732 Operating cash flow before working capital 226,276 0 226,276 Working capital movements (333,596) 0 (333,596) Net cash used in operating activities The prior - period restatements did not have a material impact on the Group's investing or financing cash flows. Note 17. Company ratios Key financial ratios are presented below on a period - matched basis. The methodology applied is consistent with that disclosed in the Group's audited consolidated financial statements for the year ended September 30, 2025.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 26 of 30 Ratio H1 FY2026 H1 FY2025* Methodology Profitability Gross profit margin 38.4% 32.9% Gross profit / revenue Operating profit margin 8.6% 5.4% Operating profit / revenue EBITDA margin 10.9% 7.5% EBITDA / revenue Net profit margin 0.6% (3.4%) Net profit / revenue Return on equity (annualised) 2.2% (22.5%) (H1 net profit × 2) / total equity Return on assets (annualised) 0.7% (5.2%) (H1 net profit × 2) / total assets Coverage and solvency Interest coverage 1.31x 0.89x EBITDA / gross finance costs Cash interest coverage 1.65x 0.88x EBITDA / cash interest paid Debt service coverage 0.83x 0.78x EBITDA / (cash interest + principal) Net debt / EBITDA (annualised) 5.82x 9.64x Net debt / (H1 EBITDA × 2) Liquidity Current ratio 1.22x 0.95x Current assets / current liabilities Quick ratio 0.69x 0.50x (Current assets − inventory) / current liab. Cash ratio 0.13x 0.06x Cash / current liabilities Capital structure Total debt / equity 2.71x 5.07x Interest - bearing debt incl. leases / equity Total liabilities / equity 3.78x 7.18x Total liabilities / total equity Debt to assets 0.85x 1.16x Interest - bearing debt / total assets Goodwill / equity 1.79x 3.05x Goodwill / total equity Working capital efficiency Days sales outstanding 54 57 AR / annualised revenue × 365 Days inventory outstanding 125 141 Inventory / annualised COGS × 365 Days payable outstanding 105 128 Payables / annualised COGS × 365 Cash conversion cycle 74 70 DSO + DIO − DPO (a) The Convertible Cumulative Redeemable Preferred Equity is classified as interest - bearing debt for the ratios above. (b) Lease liabilities (current and non - current) are included in interest - bearing debt. (c) Annualisation is performed on a linear basis (H1 × 2) for these ratios only.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 27 of 30 Top 10 Shareholders As of March 31, 2026. Source: Jamaica Central Securities Depository Limited (JCSD). # Shareholder Units Held % of Issued Capital 1 DAI Diverze (Jamaica) Limited 975,000,000 55.9737% 2 National Insurance Fund 267,379,600 15.3500% 3 Conscious Capital Inc. 41,568,000 2.3864% 4 Christopher J. Wunderlich 40,230,873 2.3096% 5 PAM — Pooled Equity Fund 31,275,958 1.7955% 6 Tropical Battery Company Limited Contributory Pension Scheme 26,358,353 1.5132% 7 Sygnus Capital Group Limited 20,000,000 1.1482% 8 Tourism Workers Pension Scheme 16,042,800 0.9210% 9 First Jamaica / UHWI Pension Scheme 14,362,573 0.8245% 10 Daniel Melville (with Anna Melville) 12,708,437 0.7296% Top 10 Shareholders — Aggregate 1,444,926,594 82.9516% Total Issued Ordinary Shares 1,741,890,573 100.0000% The top ten beneficial holders together account for approximately 82.95% of the issued capital per the JCSD certified registe r. Dai Diverze (Jamaica) Limited remains the controlling shareholder at 55.97%, and the National Insurance Fund continues to be the most significant institutional holder.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 28 of 30 Directors' Interests Disclosures presented in accordance with Rule 407 of the Jamaica Stock Exchange Main Market Rules and section 224 of the Companies Act of Jamaica. Source: Jamaica Central Securities Depository Limited (JCSD), as at March 31, 2026. Director Direct Holding Connected Holding Combined Units % Combined Alexander Melville 147,182 1,016,568,000 1,016,715,182 58.3685% Andrew Cramer — 3,750,000 3,750,000 0.2153% Caryl Fenton — — — — Daniel Melville 12,708,437 975,000,000 987,708,437 56.7032% Itamar Frankenthal 8,000,000 — 8,000,000 0.4593% Jody Gager - Rose — — — — Marc Melville — 975,000,000 975,000,000 55.9737% Marc Ramsay — 3,900,000 3,900,000 0.2239% Ricardo Hutchinson — 975,000,000 975,000,000 55.9737% Directors and their connected parties together hold a combined interest of approximately 58.4% of issued capital, predominantly through the controlling parent DAI Diverze (Jamaica) Limited. Connected - party interests overlap when multiple Directors are conn ected to the same controlling entity; the Board’s combined economic interest, after eliminating intra - family duplication, is not additive across rows.

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 29 of 30 Senior Officers' Interests Disclosures presented in accordance with Rule 407 of the Jamaica Stock Exchange Main Market Rules. Source: Jamaica Central Securities Depository Limited (JCSD), as at March 31, 2026. Senior Manager Direct Holding Connected Holding Combined Units % Alexander Melville 147,182 1,016,568,000 1,016,715,182 58.3685% Andrew Cramer — 3,750,000 3,750,000 0.2153% Christopher J. Wunderlich 40,230,873 — 40,230,873 2.3096% Daniel Melville 12,708,437 975,000,000 987,708,437 56.7032% David Walton — — — — Jeffrey Brown — — — — Kamesha Campbell - Robinson 1,514,224 — 1,514,224 0.0869% Karina Chez 3,750,000 — 3,750,000 0.2153% O'Rane Gray — 150,000 150,000 0.0086% Reshando Mais 300,000 — 300,000 0.0172% Sandra C Russell — — — — Stacy - Ann Spence 79,300 — 79,300 0.0046% Tim Gray — — — —

TROPICAL BATTERY Q2 FY2026 INTERIM REPORT TO SHAREHOLDERS JSE: TROPICAL Tropical Battery Company Limited · Interim Report · March 31, 2026 · Page 30 of 30 Corporate Information Registered Office 30 Automotive Parkway, Ferry Commercial Centre, Mandela Highway, Kingston 20, Jamaica, West Indies Telephone: (876) 923 - 6231 - 3 · 1 - 888 - 767 - 4225 Email: [email protected] · Website: www.tropicalbattery.com Board of Directors Alexander Melville, Chief Executive Officer · Marc Melville, Chairman · Daniel Melville, Director · Ricardo Hutchinson, Non - Executive Director · Itamar Frankenthal, Non - Executive Director · Andrew Cramer, Non - Executive Director · Caryl Fenton, Non - Executive Director · Jody Gager - Rose, Non - Executive Director · Marc Ramsay Non - Executive Director Registrar and Transfer Agent Jamaica Central Securities Depository Limited (JCSD), 40 Harbour Street, Kingston, Jamaica. Banker CIBC Caribbean Bank (Jamaica) Limited Operating Locations Jamaica — Retail & Service Network: Ferry (HQ) · Grove Road · Ashenheim Road · Tropical Plaza · Ocho Rios · Mandeville · Montego Bay United States: Rose Batteries (Rose Electronics), 2060 Corporate Court, San Jose, California, 95131 - 1728 · Tropical Battery (USA) LLC, 1309 Coffeen Avenue, STE 1200, Sheridan, Wyoming 82801 Dominican Republic: Kaya Energy Group, Av. 27 de Febrero #299, Edif. Chez Corporativo, Ens. Evaristo Morales, D.N., República Dominicana AMAZON Worldwide Shipping: Tropical Battery Amazon Storefront Listing Information Exchange: Jamaica Stock Exchange Main Market · Trading Symbol: TROPICAL · Financial Year End: September 30 Investor Enquiries Reshando Mais, Chief Financial Officer, Tropical Battery Company Limited. Email: [email protected]. Tropical Battery Company Limited Stronger For Longer. This interim report has been prepared for the information of shareholders and the broader investment community regarding the unaudited results of Tropical Battery Company Limited for the three and six months ended March 31, 2026. Forward - looking statements contained in this report are subject to risks and uncertainties and should not be relied upon as guarantees of future performance.