BIOHARVEST SCIENCES INC.

Significant Developments

To better understand the Company’s financial results, it is important to gain an appreciation of the significant events, transactions and activities that occurred during or have affected the period under review up to and including the date of this MD&A.

1. On May 27, 2024, the Company’s shareholders approved a 35-for-1 share consolidation of the Company’s common shares pursuant to which the holders of the Company’s common shares received one common share for every 35 common shares held. The 35:1 Share Consolidation was approved by the Canadian Securities Exchange and is effective from June 3, 2024. All common shares (issued and unissued) were consolidated on the basis that every 35 common shares of no-par value were consolidated into 1 common share of no-par value.

2. During the year ended December 31, 2025, the Company received $31,728 thousands, net of repayments finder fees and transaction costs, due to the following events:

·On the first quarter of 2025, the Company received funds to the Company’s short-term 16% and 20% loan facilities.

·On the second quarter of 2025, the Company announced the closings of its 5%, 10% and 12% loan facilities.

·On the third of 2025, the Company issued 1,169,758 common shares as a result of the conversion of convertible loans.

·On the third quarter and fourth quarter of 2025, the Company issued 1,291,523 common shares as a result of the exercise of warrants by investors and issued 10,948 common shares as a result of the exercise of warrants by service providers.

·On the fourth quarter of 2025, the Company issued 8,929 common shares as a result of exercise of options by employees and consultants.

·On the fourth quarter of 2025, the Company completed a Public Offering of 2,846,854 common shares at a price of $7.00 per share.