(All amounts in release are in Canadian dollars)

OTTAWA, November 26, 2025 – Calian® Group Ltd. (TSX:CGY), a mission critical solutions company focused on defence, space, healthcare and other strategic critical infrastructure sectors, today released its results for the fourth quarter and fiscal year ended September 30, 2025.

“Our fourth quarter results mark a significant turning point for the company, with revenues up 12%—driven by a balanced mix of 6% organic growth and 6% from acquisitions,” said Kevin Ford, Calian CEO. “This return to organic growth after several challenging quarters is a testament to the resilience and adaptability of our team. Adjusted EBITDA¹ increased by 2%, with a margin of 11.9%, and our defence solutions delivered an impressive 15% growth. Excluding the impact from our ITCS segment, Q4 revenues would have been up 18% and adjusted EBITDA¹ up 32%, highlighting the underlying strength of our core business.

For the full year 2025, we delivered 4% revenue growth and maintained a double-digit adjusted EBITDA¹ margin of 10.1%, despite a 15% decline in adjusted EBITDA¹, primarily due to the ITCS segment’s performance. Excluding ITCS, our adjusted EBITDA¹ would have increased 9%. In Q4, we took decisive actions to restore the performance of ITCS, and we expect to see meaningful benefits from these initiatives in fiscal year 2026.

Looking ahead, with a robust $1.4 billion backlog, a strong acquisition pipeline, a solid balance sheet, and clear tailwinds in our defence markets, we are well positioned for a strong fiscal year 2026.

Leading this company has been the honor of my career. I’m proud of the strong foundation we’ve built and confident that, with Patrick and our talented team, the company is well positioned for continued success as I retire.”

Q4-25 Highlights:

• Revenue up 12% to $203 million, including 6% from organic and 6% from acquisitions
• Gross margin at 34.0%, in line with last year
• Adjusted EBITDA¹ up 2% to $24 million (margin of 11.9%)
• Operating free cash flow¹ of $17 million, representing a conversion of 72%
• New contract signings of $122 million, bringing FY25 signings to over $1.1 billion
• Achieved 15% year-over-year revenue growth in defence end market solutions
• Renewed NCIB, repurchased 562,608 shares, or approximately 5% of the public float in FY25
• Launched Calian VENTURES to support the growth of Canadian Defence SMEs and partners
• Renewed and expanded debt agreement to a total of $350 million
• Completed the acquisition of Canadian-based InField Scientific after quarter end
• Awarded a contract by a leading global space technology company, after quarter end

FY25 Highlights:

• Revenue up 4% to $774 million
• Gross margin stood at 33.5%, in line with 34.0% last year
• Adjusted EBITDA¹ down 15% to $78 million (margin 10.1%)
• Operating free cash flow¹ down 28% to $52 million
• Net debt to adjusted EBITDA¹ ratio of 1.1x

Financial Highlights	Three months ended September 30,					Year ended September 30,
(in millions of $, except per share & margins)
	2025	20242		%	2025		20242	%
Revenue	203.2	181.2		12 %	774.1		746.6	4 %
Adjusted EBITDA1	24.3	23.8		2 %	78.4		92.2	(15) %
Adjusted EBITDA %1	11.9 %	13.1 %		(120)bps	10.1 %		12.3 %	(220) bps
Adjusted Net Profit1	11.5	10.5		10 %	38.3		50.5	(24) %
Adjusted EPS Diluted1	1.00	0.87		15 %	3.28		4.23	(22) %
Operating Free Cash Flow1	17.4	19.1		(9) %	52.2		72.3	(28) %

Access the full report on the Calian Financials web page.

Register for the conference call on Wednesday, November 26, 2025, 8:30 a.m. Eastern Time.

Fourth Quarter Results

Revenues increased 12%, from $181 million to $203 million. Acquisitive growth was 6% and was generated by the acquisition of Advanced Medical Solutions completed in May. Organic growth was 6% and was generated by the Advanced Technologies, Health and Learning segments. It was offset by declines in ITCS. Excluding a segment undergoing a targeted repositioning, organic growth was 9%.

Gross margin held steady at 34.0%, and represents the 14^th consecutive quarter above the 30% mark. Adjusted EBITDA¹ stood at $24 million, a 2% increase year over year driven by strong performance in the Advanced Technologies, Health and Learning segments. As expected, margin dynamics reflected strategic adjustments in ITCS resulting in adjusted EBITDA¹ margin of 11.9%, Excluding that segment, the remainder of the business delivered a 32% increase in adjusted EBITDA¹.  

Net profit stood at $20.6 million, or $1.80 per diluted share, from a loss of $(0.6) million, or $(0.05) per diluted share last year. This improvement reflects the removal of the contingent earn-out related to Decisive, coupled with lower tax expenses, partially offset by higher interest expenses.  Adjusted net profit¹ was $11.5 million, or $1.00 per diluted share, up from $10.5 million, or $0.87  per diluted share last year, supported by higher adjusted EBITDA¹.

Liquidity and Capital Resources

“This quarter showcased the resilience and momentum across our portfolio. We continued to expand in our mission-critical markets, delivered solid profitability, and generated $17 million in operating free cash flow¹.” said Patrick Houston, Calian CFO. “Our backlog of $1.4 billion provides a strong base to continue our growth trajectory, and our renewed credit facility gives us the capacity to continue investing for growth. With our core segments delivering double-digit adjusted EBITDA¹ of 32% in Q4 and 9% in FY25 and strengthened demand in defence, space and health, we are very well positioned for a step-change in performance in fiscal 2026.”

Awarded Contract to Deliver QV Band Gateways for Two Geostationary Satellites

On November 24, 2025, Calian announced it has been awarded a contract by a leading global space technology company for the design and manufacturing of four Ka/Q/V-band RF gateway ground stations to support the roll-out of services for two state-of-the-art geostationary satellites.

The gateways will form the critical ground infrastructure linking the new satellites to terrestrial networks, enabling reliable, secure, high-capacity government communications across a wide geographical area that includes Africa, Europe, and Asia. In support of delivering on the contract, Calian will deliver four 10-metre Ka/Q/V-band gateway antennas along with the radio frequency equipment, and monitoring and control systems in the middle east. Once complete, the satellites will deliver next-generation, sovereign connectivity for secure government communications.

Completed the Acquisition of Canadian-based InField Scientific

On October 2, 2025, Calian announced the acquisition of InField Scientific Inc., a Quebec-based engineering company internationally recognized in electromagnetic environmental effects (E3). This small, strategic acquisition expands Calian’s defence portfolio enabling the company to deliver end-to-end electromagnetic solutions to expand into new markets, strengthen defence customer impact and support future growth.

Renewed and Expanded its Debt Agreement

On September 29, 2025, Calian announced the closing of a CDN$200 million debt facility with Royal Bank of Canada (RBC), Federation des Caisses Desjardins du Quebec (Desjardins), Canadian Imperial Bank of Commerce (CIBC), JP Morgan Chase Bank, N.A. (JP Morgan) and Export Development Canada. The new three-year term revolving credit facility totals $350 million, including a committed amount of $200 million, combined with an uncommitted accordion feature of up to $150 million.

Launched Calian VENTURES

On September 23, 2025, Calian announced the launch of Calian VENTURES, a groundbreaking initiative helping Canada’s small to mid-sized enterprise (SMEs) and partners scale proven Canadian defence solutions into sovereign capabilities to meet the evolving needs of the Canadian Armed Forces (CAF). On November 13, 2025, Calian announced its first partnership under Calian VENTURES with TACTIQL Inc.

Normal Course Issuer Bid

On August 28, 2025, the TSX accepted Calian’s Notice of Intention to Make a Normal Course Issuer Bid (“NCIB”) to purchase for cancellation up to 796,283 common shares during the 12-month period commencing September 1, 2025 and ending August 31, 2026, representing approximately 10% of the

public float of its common shares as at August 18, 2025.

In the three-month period ended September 30, 2025, the Company repurchased 6,300 shares for cancellation in consideration of $0.3 million. For the year ended ended September 30, 2025, the Company repurchased 562,608 shares for cancellation in consideration of $25.5 million.

Quarterly Dividend

On November 25, 2025, Calian declared a quarterly dividend of $0.28 per share. The dividend is payable December 23, 2025, to shareholders of record as of December 9, 2025. Dividends paid by the Company are considered “eligible dividend” for tax purposes.