EEIQ

Revenue Rises a Solid 17% Despite Industry Challenges; New AI EdTech and Expansion Initiatives Position EEIQ for Future Growth TOLEDO, Ohio, June 25, 2026 (GLOBE NEWSWIRE) -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), (“EpicQuest Education”, “EEIQ” or the “Company”), a provider of comprehensive education and EdTech solutions for international and domestic students seeking college and university degrees in the US, Canada and the UK, today announced its first half financial results for the six months ended March 31, 2026. “We are pleased to announce 17% revenue growth for the first half of fiscal 2026 driven by the continued expansion of our foundational and collaborative programs delivered in students’ home countries. These programs are designed to prepare students for academic study abroad and have proven to be tremendously successful. Our strategic focus on internationalization remains a powerful growth engine, further strengthened by agreements with leading universities worldwide,” commented Jianbo Zhang, CEO of EpicQuest Education. “It is estimated that more than 100 colleges have closed or merged over the past two academic years due to financial pressures, shifting demographics and skepticism about the value of a college degree. However, EpicQuest Education has bucked the trend, having grown its first half year-over-year revenue 51% since fiscal 2024. Our mission is to deliver results-driven, globally accessible learning experiences that empower students to earn Bachelor’s and Master’s degrees to secure high-quality careers.” “Looking ahead, we are exploring new partnerships in the US and key international markets to broaden our academic pathways for our students. At the same time, we are pursuing new business initiatives that we believe will propel our growth and become sources of future revenue. This includes the development of an AI-powered platform to enhance student engagement and tutoring through the essential integration of human interaction with AI technology. We are also progressing on plans to establish Davis University branch campuses beginning in the US to expand enrollment and provide more options for our international students. We believe that our unique value proposition delivers highly positive outcomes for students as well as long-term returns for our shareholders.” First Half 2026 Financial Results Ended March 31, 2026 Revenues were $6.27 million for the first half of fiscal 2026 compared to $5.37 million for the first half of fiscal 2025, an increase of $0.90 million, or 16.8%. The rise in revenue was mainly due to the increase in the international foundational and collaborative programs that are offered by Davis University, and the resulting increase in international student enrollment. Gross profit was $3.63 million for the first half of fiscal 2026 compared to $3.42 million for the same period of 2025, an increase of $0.22 million, or 6.3%. The increase was primarily due to the 16.8% increase in revenue in the current period which was offset by the increase in costs of services of 35.2% for the first half of fiscal 2026 compared to the same period of 2025. This margin contraction was primarily due to lower student occupancy rates within dormitory services which reduced fixed-cost absorption, as well as higher agent recruiting fees incurred to launch a new academic program. Operating Expenses were $6.08 million for the first half of fiscal 2026 compared to $5.38 million for the same period of 2025, an increase of $0.70 million, or 13.0%. The increase was due to a 12.7% increase in general and administrative expenses to $5.08 million in the current period from $4.51 million for the same period of 2025, and a 14.7% increase in selling expenses in the current period to $1.00 million from $0.87 million for the same period of 2025. The increase in general and administrative expenses was mainly due to non-cash expenses attributable to share-based compensation granted to directors, officers and employees. Selling expenses include student recruitment commissions paid to agents who provide student recruitment services and expenses related to business development. Operating loss was $2.45 million for the first half of fiscal 2026 compared to an operating loss of $1.96 million for the same period of 2025, representing an increase of $0.49 million, or 24.8%. The increase in operating loss was primarily due to the 35.2% increase in costs of services in the current period as compared to the same period of 2025. Net loss was $3.16 million for the first half of fiscal 2026 compared to a net loss of $0.16 million for the same period of 2025 due to the factors discussed above and the following events: (1) an expense of $0.6 million in the current period attributable to an expected reduction in revenue from soccer matches; and (2) a $1.9 million gain from the sale of fixed assets in the year-ago period. Net Loss Per Basic and Diluted Share for the first half of fiscal 2026 was $1.92 compared to a net loss of $0.28 per basic and diluted share for the same period of 2025. The weighted average number of shares used in the computation of basic and diluted earnings per share for the first half of 2026 was 1,470,812 shares compared to 827,060 shares for basic and diluted earnings per share in the prior year period. All share and per share information has been retroactively adjusted to give effect to the 1-for-16 reverse stock split effected on February 17, 2026. Financial Condition As of March 31, 2026, the Company had $0.31 million in cash and cash equivalents, a decrease of $4.45 million as compared to $4.75 million as of the fiscal year end of September 30, 2025. Subsequent to the end of the first six months of fiscal 2026, the Company raised $0.6 million less offering expenses (for more information, see ‘Subsequent Event’ below). As of March 31, 2026, working capital was $5.59 million (current assets minus current liabilities) and the current ratio (current assets divided by current liabilities) was 1.91, as compared to working capital of $7.41 million and a current ratio of 1.83 as of September 30, 2025. Stockholders’ equity as of March 31, 2026 was $7.25 million, a decrease of $1.56 million as compared to $8.81 million as of September 30, 2025. Liquidity and Capital Resources Net cash used in operating activities for the six months ended March 31, 2026 was $4.09 million, compared to net cash used in operating activities of $2.29 million for the six months ended March 31, 2025, representing a $1.80 million increase in the net cash outflow. This increase was primarily due to the $3.00 million increase in net cash outflow resulting primarily from the net loss of $3.16 million for the six months ended March 31, 2026 as compared to a net loss of $0.16 million for the comparable year-ago period.  Net cash used in investing activities was $0.02 million for the six months ended March 31, 2026, which was for the purchase of furniture and fixtures. Net cash generated in investing activities was $1.50 million for the six months ended March 31, 2025, which represented the proceeds from the sale of a real estate property. Net cash used by financing activities was $0.35 million for the six months ended March 31, 2026 which represented the loan repayment to a third-party; for the six months ended March 31, 2025, the Company had net cash provided by financing activities of $nil. New EpicQuest Education Initiatives High School Acceleration and Pathway Programs. Davis University recently entered into agreements with four Canadian high schools where students can enter into accelerated university pathway programs by enrolling in Davis’ first-year online Bachelor of Science in business courses. This is a new revenue stream for the Company, and it also represents a recruitment pool for its full-time Davis degree programs. We believe that experiencing the rigor of college-level academics and the ability to transfer college credits to Davis’ partner universities represents a compelling opportunity for the high school student cohort. We will continue to engage with high schools in the US, Canada, and abroad to further develop this new growth segment for the Company. New EdTech Capabilities Harnessing the Power of AI.   We are committed to be a leader in AI and its application for higher education since we believe that AI can empower student achievement. However, we firmly believe that this has to be a blended approach of both AI and traditional teaching since the human connection is extremely important with AI. We are currently beta-testing advanced AI capabilities that will provide 24/7 personalized tutoring, specific coursework support, and language assistance. A key to our AI model is to proactively understand how each individual student learns and to customize our generative AI model based on each student’s learning behavior. Importantly, we are designing our AI model with policies that are aligned with our education values which include data privacy, wide integration capabilities, and mandatory training. We plan to launch our AI learning tool for the Fall 2026 semester. Extending our Academic Reach through Branch Campuses. We plan to develop branch campuses of Davis University in different cities in the US and abroad. These campuses will offer select academic programs, maintain its academic standards and will award the University’s degrees. We believe that this will increase our overall enrollment while reaching underserved areas with our unique approach to providing a broad spectrum of career-oriented courses and individualized academic journeys for students. Further, the increasing success of our foundational programs abroad prioritizes the development of a US branch campus in order to increase options for international students to study in the US. We plan to launch our first US branch campus for the Spring 2027 semester. Subsequent Event On May 6, 2026, the Company closed on a private placement with certain accredited investors for the sale of (i) 150,000 ordinary shares, and (ii) warrants to purchase up to an aggregate of 600,000 ordinary shares. The combined purchase price of one ordinary share and the accompanying warrants was $4.00. Subject to certain ownership limitations, the warrants are exercisable into one ordinary share at a price of $4.80 which will expire in one year from the date of issuance. EpicQuest Education’s Strategy of Internationalization Our strategic plan is to achieve sustainable growth through our strategy of internationalization which is a key element of our strategic growth plan. EpicQuest Education’s owned and operated colleges, Davis University in Toledo and Davis Academy in Vancouver, have become increasingly focused on international recruiting and enrollment as it provides enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company’s foundational programs essentially export our academic programming at an affordable cost for students since they study in their home countries to gain the skills needed for study abroad while earning course credits needed for attendance at our two institutions of higher learning as well as top universities. A vital component of EpicQuest Education’s strategic growth plan is to become increasingly involved with international collaborations in order to leverage our academic programming and unique culture of learning. Through its strategy of internationalization expansion, EpicQuest Education is establishing itself as a renowned international service provider of higher learning. About EpicQuest Education Group International Limited EpicQuest Education Group International Limited (“EpicQuest Education” or the “Company”) provides comprehensive education solutions for domestic and international students seeking university and college degrees in the US, Canada and the UK. The Company owns and operates Davis Academy a/k/a EduGlobal College, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training college located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. For more information, please visit www.epicquesteducation.com/. Safe Harbor Statement Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, the ability of the Company to achieve the enrollment goals outlined and the ability of the Company to achieve meaningful future revenue increases. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made. - FINANCIAL TABLES FOLLOW - *All share and per share information presented herein has been retroactively adjusted to give effect to the reverse stock split effected on February 17, 2026. * All share and per share information presented herein has been retroactively adjusted to give effect to the reverse stock split effected on February 17, 2026. For additional information, please see Form 6-K as filed with the SEC as the accompanying notes form an integral part of these condensed financial statements. Contacts: EpicQuest Education Group International Limited+1 [email protected] Investor Relations: Precept Investor Relations LLCDavid Rudnick+1 [email protected] Source: EpicQuest Education Group International Limited

EEIQ Records 10% Year-over-Year Revenue Growth in a Challenging Market Environment Flagship Institution Davis University Achieves its First Year of Profitability TOLEDO, Ohio, Jan. 28, 2026 (GLOBE NEWSWIRE) -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), (“EpicQuest Education”, “EEIQ” or the “Company”), a provider of comprehensive education solutions for domestic and international students seeking college and university degrees in the US, Canada and the UK, today announced its financial results for the twelve months ended September 30, 2025 and an operations update. “We are pleased to report a year-over-year revenue increase of 10% for the 2025 fiscal year driven by the continued success of our two higher education institutions and the innovative foundational programs that we deliver with elite universities worldwide,” stated EpicQuest Education CEO Jianbo Zhang. “We are especially proud to announce that our flagship institution, Davis University, achieved its first year of profitability, a major milestone in our journey towards long-term growth and sustainability. This achievement underscores the strength of our dual strategy, providing career-focused programs aligned with today’s evolving job market and forging broad-based international collaborations and partnerships.” “While many U.S. institutions face declining international enrollment, our innovative approach of building foundational and collaborative programs in students’ home countries has fueled solid growth. By developing foundational and joint programs within students’ home countries, we are able to provide our academic programming and pathways to higher education around the globe. This strategic approach not only diversifies revenue streams but also builds a robust enrollment pipeline for both Davis University and EduGlobal College. “In recent news, we were honored with the CES Speed Award for Global Branding for excellence in global brand acceleration at CES 2026, the world’s largest global technology event held in Las Vegas. This achievement underscores the success of our internationalization efforts and our team’s unwavering dedication to our global expansion strategy. In addition, we are developing an AI-powered platform designed to enhance student engagement and tutoring through a unique integration of human interaction. We believe our personalized learning experiences offer exceptional value for students while driving sustainable long-term returns for our shareholders,” concluded CEO Jianbo Zhang. Fiscal Year 2025 Financial Results Ended September 30, 2025 Revenues were $8.95 million for the fiscal year 2025 compared to $8.15 million for fiscal 2024, an increase of $0.79 million or 9.7%. The increase in revenue was mainly due to an increase in international student enrollment at Davis University as well as the Company’s new international foundational and collaborative programs that are offered by Davis University and EduGlobal College. Gross profit was $5.93 million for the fiscal year 2025 compared to $5.31 million for fiscal 2024, an increase of $0.62 million or 11.7%. The increase was primarily due to the net effect of improved cost management that included cost synergies across our operations. Operating Costs and Expenses were $10.11 million for the fiscal year 2025 compared to $12.74 million for fiscal 2024, a decrease of $2.63 million or 20.6%. The decrease was primarily due to the 22.0% decrease in general and administrative expenses to $8.74 million from $11.20 million in fiscal 2024 due to lower management fees charged by the Company’s business partners and reduced stock-based compensation expenses. Operating loss was $4.18 million for the fiscal year 2025 compared to an operating loss of $7.43 million for fiscal 2024, a decrease of $3.25 million or 43.7%. The decrease in operating loss was due to higher revenues as well as lower operating costs and expenses in fiscal 2025 as compared to fiscal 2024. Other income was $1.66 million for the fiscal year 2025 as compared to other income of $0.52 million for fiscal 2024, an increase of $1.14 million, or 219.2%. The increase in other income was due to a $1.2 million gain on the settlement of an accounts payable, and a $0.5 million gain from the sale of a property on the Middletown campus of Miami University. Net loss was $2.53 million for the fiscal year 2025 compared to a net loss of $6.57 million for fiscal 2024, a decrease of $4.04 million, or 61.5%, due to the factors discussed above. Net Loss Per Basic and Diluted Share for the fiscal year 2025 was $0.16 compared to a net loss of $0.47 per basic and diluted share for fiscal 2024. The weighted average number of shares used in the computation of basic and diluted earnings per share for the fiscal year 2025 was 15,486,467 shares compared to 12,637,968 shares for basic and diluted earnings per share for fiscal 2024. Financial Condition As of September 30, 2025, the Company had $4.75 million in cash and cash equivalents, an increase of $3.60 million or 313.0% as compared to $1.15 million as of September 30, 2024. As of September 30, 2025, working capital was $7.41 million (current assets minus current liabilities) and the current ratio (current assets divided by current liabilities) was 1.83x, as compared to working capital of $2.03 million and a current ratio of 1.21x as of September 30, 2024. Shareholders’ equity as of September 30, 2025 was $8.81 million, an increase of $3.64 million or 70.4% as compared to shareholders’ equity of $5.17 million as of September 30, 2024. Liquidity and Capital Resources Net cash used in operating activities for the twelve months ended September 30, 2025 was $2.95 million as compared to net cash used in operating activities of $9.48 million for the twelve months ended September 30, 2024. This decrease was primarily due to the changes in net income and other working capital balances. Changes in these balances are included in the changes in assets and liabilities presented in the consolidated statement of cash flows. Net cash provided from investing activities was $1.46 million for the twelve months ended September 30, 2025 as compared to net cash provided from investing activities of $0.72 million for the twelve months ended September 30, 2024. Net cash provided from financing activities was $5.11 million for the twelve months ended September 30, 2025 as compared to $4.95 provided from financing activities for the twelve months ended September 30, 2024. For the twelve months ended September 30, 2025, $5.11 million was raised through an equity financing. EpicQuest Education – Operations Update Our operations provide a diversified revenue stream that includes tuition and student service fees from our owned and operated colleges, Davis University and EduGlobal College, fees from our foundational programs located abroad, and revenue from our recruiting relationships with prominent universities. For fiscal 2025, approximately 25.0% of the Company’s revenue was attributable to the English Language Center at the Regional Campuses of Miami University, 4.0% of its revenue was attributable to the foreign language and college-level education offered by EduGlobal College, and 71.0% of its revenue was attributable to the academic coursework and professional training programs offered by Davis University. We also provide academic pathways through articulation agreements with universities to provide additional options for our students. We believe we have a positive and effective business model where students can individualize their academic journeys which provides students with a solid return on their educational investment. Domestic Programs Davis University (“Davis”) provides academic coursework and practical educational programs that meaningfully connects to students who see our programs as an effective way to reach their career goals. Davis University offers Certificate programs and Associate degrees in an array of career training disciplines, a Bachelor of Science in Business program, and we have been approved by the State of Ohio and the Higher Learning Commission to offer a Master of Science in Management degree program. As of September 30, 2025, Davis recorded an 85.0% increase in its international student enrollment in the first academic quarter of 2025 as compared to the same academic quarter in 2024. Davis enrolled 407 international students for the first academic quarter of 2025 compared with 220 international students that were enrolled in this same academic quarter in 2024. Further, this represents a 299% increase as compared to 102 international students who were enrolled at Davis in this same academic quarter in 2023. The substantial increase in international enrollment for the first academic quarter of 2025 includes 260 international students through agreements with Chongqing Technology and Business Institute, Guangdong Communications Polytechnic, and Shijiazhuang College of Applied Technology, as well as 147 international students through the Company’s foundational programs. EduGlobal College recruiting has been enhanced by its cooperative diploma programs. The co-op programs, which began for the Fall semester in September 2025, entail students alternating between attending academic semesters with working at paid, full-time jobs. We believe that this will enhance our domestic recruiting efforts since the co-op programs provide students with a great hybrid approach which helps students secure job offers upon graduation. Miami University English Language Center at the Miami Regional Campuses enrollment is expected to rise. The English Language Program at Miami University Regionals offers international students the opportunity to enroll in an elite U.S. university with world-class facilities and an outstanding academic faculty. We have a recruitment relationship with the Miami University Regionals that began in 2013 where we offer ‘one stop’ services that include student housing, dining, transportation and supervision services among other services. The English Language Program continues to be a popular option for international students as it offers a pathway for both a Bachelor’s degree and advanced university degrees. As of September 30, 2025, 55 students were enrolled in the program and as of January 20, 2026, 3 students have been confirmed to join the program. International Foundational and Collaborative Programs: Davis University’s foundational programs have 220 students enrolled for the 2025-2026 academic year as compared to 102 students for the 2024-2025 academic year. We believe that Davis’ two-year foundational programs secures sustainable revenue because the retention rate of students from the first to the second year is usually close to 100%. In addition to this representing a unique revenue stream for the Company, the foundational programs also create a pool of students to attend our owned and operated schools. Davis’ foundational program students are enrolled in elite universities. The foundational programs are currently offered on the main campuses of Peking University, Shanghai Jiao Tong University, the Beijing Institute of Technology, and the Shenzhen campus of the Chinese University of Hong Kong, all preeminent universities in China. The Company typically places its own instructors in these programs and collaborates on designing the academic programs for students. In December 2025, Davis entered into a non-binding Memorandum of Understanding with The Lyceum Campus located in Sri Lanka to offer Davis’ Masters of Science in Management Program. The arrangement opens doors to a key South Asia market that empowers students to earn Davis University degrees in their home country with greater affordability and flexibility, and marks a major milestone for Davis, opening up a new avenue for international expansion and fostering deeper academic exchange. In May 2025, Davis entered into an Agency Agreement with MSM Unify, a leading international student recruiter. The agreement is intended to augment our international students from China and India with new students from Africa and the Middle East. We believe that this is a cost-effective strategy since MSM Unify has both the infrastructure and know-how to reach students and families in these high growth regions. Davis’ agreement with The Center of Advanced Studies could lead to a substantial increase in international student enrollment. Its agreement with The Center of Advanced Studies, based in Tokyo, Japan, establishes a pathway for international students from five Southeast Asian and South American colleges and universities to complete associate and bachelor’s degrees in business at Davis University through the transfer of credits, which could start as soon as the Spring 2026 semester. It will also provide Davis with the opportunity to further expand its foundational programs which could create a sizeable international student recruiting pool. EpicQuest Education’s Strategy of Internationalization Our strategic plan is to achieve sustainable growth through our strategy of internationalization which is a key element of our strategic growth plan. EpicQuest Education’s owned and operated colleges, Davis University and EduGlobal College, have become increasingly focused on international recruiting and enrollment as it provides enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company’s foundational programs essentially export our academic programming at an affordable cost for students since they study in their home countries to gain the skills needed for study abroad while earning course credits prior to their attendance at our two institutions of higher learning. In addition, a vital component of EpicQuest Education’s strategic growth plan is to become increasingly involved with international collaborations in order to leverage our distinct academic programming and unique culture of learning. The Company’s mission is to achieve international expansion and establish EpicQuest Education as a renowned international service provider of higher learning. About EpicQuest Education Group International Limited EpicQuest Education Group International Limited (“EpicQuest Education” or the “Company”) provides comprehensive education solutions for domestic and international students seeking university and college degrees in the US, Canada and the UK. The Company owns and operates EduGlobal College, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training college located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. EpicQuest Education has also established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com/. Safe Harbor Statement Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, statements regarding the Company’s future business plans, anticipated partnerships, expansion of educational programs, and expected outcomes of its activities. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made. FINANCIAL TABLES FOLLOW The accompanying notes as filed in the Company’s 20-F for fiscal 2025 form an integral part of these consolidated financial statements. Contacts: EpicQuest Education Group International Limited +1 513-649-8350 [email protected] Investor Relations: Precept Investor Relations LLC David Rudnick +1 646-694-8538 [email protected] Source: EpicQuest Education Group International Limited

Revenue Rises a Robust 29% from the Year-Ago Period Driven by International Programs MIDDLETOWN, Ohio, Aug. 21, 2025 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of comprehensive education solutions for domestic and international students seeking college and university degrees in the US, Canada and the UK, today announced its first half financial results for the six months ended March 31, 2025. "We are pleased to announce a 29% increase in revenue for the first half of our 2025 fiscal year as compared to the year-ago period. This increase was driven by the expansion of our international foundational and collaborative programs offered abroad which enable students to begin their studies in their home countries to prepare for future study overseas. In addition, the six-month period reflects an improvement in our gross margin to 64% and a significant reduction in operating costs as we work to create synergies and reduce expenses," commented Jianbo Zhang, CEO of EpicQuest Education. "Our global recruitment initiatives continue to expand from China, Southeast Asia and the LATAM markets, and we have also entered into an agreement to boost student enrollment from Africa and the Middle East to Davis University. Our long-standing relationship with the Regional Campuses of Miami University of Ohio remains a cornerstone of our business, and EduGlobal College continues to expand opportunities and pathways for students to pursue university degrees. Internationalization continues to be a key catalyst of our strategic growth plan and we have entered into numerous agreements with prestigious universities around the world. We are committed to deliver both enriched global learning and an array of academic programs that empower students to build strong and sustainable careers," concluded CEO Jianbo Zhang. First Half 2025 Financial Results Ended March 31, 2025 Revenues were $5.37 million for the first half of fiscal 2025 compared to $4.16 million for the first half of fiscal 2024, representing an increase of $1.21 million, or 29.1%. The increase in revenue was mainly due to an increase in students enrolling in the Company's international foundational and collaborative programs that are offered by Davis University and EduGlobal College, as well as its domestic programs offered by these two schools. Gross profit was $3.42 million for the first half of fiscal 2025 compared to $2.40 million for the same period of 2024, representing an increase of $1.02 million, or 42.5%. The increase was primarily due to the 29.1% increase in revenue in the current period while costs of services only increased 10.8% for the first half of fiscal 2025 compared to the same period of 2024. This was mainly due to the decrease in non-cash expenses attributable to share-based compensation as well as cost reduction initiatives. As a result, our gross margin increased to 63.7% for the first half ended March 31, 2025 from 57.7% for the same period of 2024. Operating Expenses were $5.38 million for the first half of fiscal 2025 compared to $6.55 million for the same period of 2024, representing a decrease of $1.17 million, or 17.9%. The decrease was due to a 22.9% reduction in general and administrative expenses to $4.51 million in the current period from $5.85 million for the same period of 2024, which was somewhat offset by a 24.9% increase in selling expenses in the current period to $0.87 million from $0.70 million for the same period of 2024. General and administrative expenses are due to non-cash expenses attributable to share-based compensation granted to directors, officers and employees for retention purposes following the Company's IPO in March of 2021, as well as professional fees primarily related to the Company's expansion efforts. Selling expenses include student recruitment commissions paid to agents, marketing, advertising, and travel expenses incurred due to an increase in recruiting activities. Operating loss was $1.96 million for the first half of fiscal 2025 compared to an operating loss of $4.14 million for the same period of 2024, representing a decrease of $2.08 million, or 52.7%, signifying a significant improvement of this income statement line item. This was due to higher period-over-period revenue in the current period, lower costs of services relative to revenue, and reduced operating expenses. Net loss was $0.16 million for the first half of fiscal 2025 compared to a net loss of $3.52 million for the same period of 2024, representing a decrease of $3.36 million, or 95.5%, signifying a significant improvement of this income statement line item. This was due to the factors as discussed above. Net Loss Per Basic and Diluted Share for the first half of fiscal 2025 was $0.02 compared to a net loss of $0.26 per basic and diluted share for the same period of 2024. The weighted average number of shares used in the computation of basic and diluted earnings per share for the first half of 2025 was 13,232,953 shares compared to 12,370,905 shares for basic and diluted earnings per share in the prior year period. Financial Condition As of March 31, 2025, the Company had $0.33 million in cash and cash equivalents, a decrease of $0.82 million or 71.3% as compared to $1.15 million as of September 30, 2024. As of March 31, 2025, negative working capital was $3.96 million (current assets minus current liabilities) and the current ratio (current assets divided by current liabilities) was 0.57, as compared to negative working capital of $5.47 million and a current ratio of 0.44 as of September 30, 2024. Stockholders' equity as of March 31, 2025 was $5.35 million, an increase of $0.18 million or 3.5% as compared to $5.17 million as of September 30, 2024. Liquidity and Capital Resources Net cash used in operating activities for the six months ended March 31, 2025 was $2.29 million as compared to net cash used in operating activities of $10.1 million for the six months ended March 31, 2024. This decrease was primarily due to the changes in net income and other working capital balances. Changes in these balances are included in the changes in assets and liabilities presented in the consolidated statement of cash flows. Net cash provided by investing activities was $1.50 million for the six months ended March 31, 2025 as compared to net cash provided by investing activities $0.75 million for the six months ended March 31, 2024. The net cash provided by investing activities for both six-month periods was attributable to the proceeds from the sale of real estate properties. Net cash provided by financing activities was nil for the six months ended March 31, 2025 as compared net cash provided by financing activities of $4.95 million for the six months ended March 31, 2024, which was the net result of (1) $0.8 million from the Company's private placement in January 2024, (2) $0.4 million in debt financing from a third party; and (3) an investment received for the Company's Gilmore Inv LLC subsidiary. About EpicQuest Education Group International Limited EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") provides comprehensive education solutions for domestic and international students seeking university and college degrees in the US, Canada and the UK. The Company owns and operates EduGlobal College, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis College, a career training college located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. EpicQuest Education has also established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com/. Safe Harbor Statement Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, the ability of the Company to achieve the enrollment goals outlined and the ability of the Company to achieve meaningful future revenue increases. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made. Contacts: EpicQuest Education Group International Limited +1 513-649-8350 [email protected] Investor Relations: Precept Investor Relations LLC David Rudnick +1 646-694-8538 [email protected] Source: EpicQuest Education Group International Limited View original content to download multimedia:https://www.prnewswire.com/news-releases/epicquest-education-announces-first-half-fiscal-year-2025-financial-results-302536218.html SOURCE EpicQuest Education Group International Limited