*Disseminated on Behalf of Pineapple Financial Inc.

Wednesday’s Radar: Pineapple Financial Inc. (NYSE American: PAPL) Possesses 5 Potential Catalysts

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December 10th

Dear Reader,

A technology-focused financial services firm is reshaping how a traditional corner of the market operates, pairing a nationwide operating footprint with a modern, cloud-based platform.

At the same time, the company is also implementing a forward-looking approach to managing its balance sheet, by introducing a digital asset treasury (“DAT”) strategy in partnership with the Injective Foundation. The DAT will be centered on accumulation of the Injective token, a Layer-1 block-chain optimized for decentralized finance.

This combination of real-world financial services and on-chain capabilities is creating a differentiated business model from its legacy peers that warrants a closer look from those tracking the next wave of fintech innovation.

And with a low float of just over 1Mn shares meaning volatility potential could be significantly heightened, positive revenue growth, and major milestones being notched, this under-the-radar NYSE profile has earned the top spot on my watchlist:

Pineapple Financial Inc. (NYSE American: PAPL)

Pineapple is a fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners.

With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home.

And based on several potential catalysts, (NYSE American: PAPL) tops my immediate watchlist. Here’s a quick list:

#1. A Low Float of Just Over 1Mn Shares Could Create Significant Volatility.

#2. A Game-Changing $100Mn Injective Digital Asset Treasure Strategy Is Launched.

#3. Recent Financials Point To A Company Trending In The Right Direction As Revenue Grows.

#4. PAPL Establishes And Stacks Their Treasury Advisory Board With Significant Experience.

#5. A Major Milestone Could Generate Added Company Visibility (PAPL Notches Relisting On NYSE American).

But more on those in a second…

The Problem

Mortgage agents face numerous challenges due to outdated industry processes, requiring them to wear various hats to accomplish their jobs.

They spend most of their time trying to stay organized and completing paperwork.

5-10 different software platforms are required – A lot of time is wasted without working on one cohesive platform.

Under 20 deals closed per month – Significant opp. lost from time running their business.

Majority of agent’s time spent completing administrative tasks – Time is better spent fostering borrower relationships and driving business.

Sourcing and originating clients – Lack of technological solutions that help mortgage agents source borrowers.

Managing multiple clients by themselves – No automated processes managing existing borrowers.

Securing quotations from lenders – Limited or costly support from underwriters.

Creating, emailing, filling out, and collecting administrative paperwork prior to, during and after a transaction – Time taken away from core business focus.

Minimal training and support – Traditionally, mortgage agents have access to very little training and support from the start and throughout their career.

The Pineapple Solution

Pineapple utilizes cutting-edge cloud-based tools and data-driven systems to enable its mortgage agents and brokers to help Canadians realize their ultimate dream of owning a home.

Pineapple aims to help fuel the Canadian housing market by becoming the go-to, tech-driven seamless mortgage experience for mortgage agents, lenders and homebuyers.

One Software Platform – MyPineapple is a seamless technology platform built for mortgage agents and brokers – the only platform needed for mortgage agents and borrowers to connect on.

Over 60 deals closed per month – Mortgage agents have seen an increase in closed deals by up to 300%.

Majority of time spent with borrowers and originating business – Pineapple’s automated technology allows mortgage agents to foster their borrower relationships and drive their business forward.

Automatic creation and collection of all transaction paperwork – Pineapple’s Document Collection Portal is 100% secure, automated and digital.

Lead Generation & Cross-Selling Tools – The company’s MyPineapple platform is completely automated from lead input, marketing journey customization, daily payroll, deal management and submission to additional business generation.

Comprehensive Training – Pineapple provides live training sessions four days per week and offers training in-person, digitally, and on-demand.

How Does It Work?

1. Target Clients – Pineapple’s unique scoring and segmentation algorithm can identify where a specific borrower is within the sales cycle (new home buyer, refinancing, etc.) as well as when a conversion opp. becomes available. These borrowers are then driven to their mortgage agents via the MyPineapple platform.

2. Onboard Clients – Providing borrowers with a digital environment ensures that mortgage agents have all necessary data and provides borrowers with an instant pre-qualification.

3. Process With Accuracy – Ensures that mortgage agents can align with the appropriate lender and product providing a more accurate approval process and creating less of a chance of error or declination of the application. Data integrity also allows Pineapple to make better-informed decisions by analyzing lender policies and future analytics.

4. Client Management – Workflow is managed digitally alongside a secure document and client portal for the borrower to upload the required information directly to the mortgage agent. Realtors and lawyers can also be integrated within the transaction process while also staying abreast of the status of their file.

5. Data Analytics – Leverages past borrower data and market insights to identify cost savings or wealth creation opp’s for their mortgage agents’ borrower base.

The Canadian Market Opp.

A New $100Mn+ Digital Asset Treasury (DAT) Strategy Aims To Leverage Injective ($INJ), A Token Purpose-Built For Finance

Pineapple’s new Digital Asset Treasury (DAT) strategy is designed as a policy-driven, institutional-grade treasury system that allocates assets to the accumulation of Injective tokens in order to strengthen liquidity, diversify income, and enhance the balance sheet through controlled on-chain participation.

A $100Mn DAT target holding showcases Pineapple’s ambition to become the largest public INJ holder, using its mechanisms to support operational resilience, long-term capitalization, and transfer of mortgage data to an on-chain ecosystem

INJ Staking Benefits: Yield & Liquidity Strength

Through its partnership with Injective, Pineapple taps into a ~12% target staking yield, validator participation, and on-chain governance in a platform built for financial applications.

INJ staking provides:

• Yield generation that enhances non-dilutive revenue

• Auto-compounding options within strict DAT guardrails

• Institutional liquidity from Injective’s global ecosystem

• Deflationary token mechanics, fueling token validation and potentially enhancing asset value over time

• Pineapple gains access to a yield-enhancing, risk-managed income stream that supports treasury performance and increases financial flexibility.

Find Additional Sources And More: PAPL Presentation. PAPL Website.

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As I mentioned previously, (NYSE American: PAPL) has multiple potential catalysts that send it to the top spot on my watchlist. Take a look:

#1. PAPL Potential Catalyst – A Low Float of Just Over 1Mn Shares Could Create Significant Volatility.

According to info from the Yahoo Finance website, PAPL has a notably low float.

The website reports that this company has roughly 1.01Mn shares in its float.

Why is that important? It’s important on one crucial level. Volatility potential.

If positive company news appears towards the end of 2025, could it provide a breakout spark when paired with this volatility potential?

—–

#2. PAPL Potential Catalyst – A Game-Changing $100Mn Injective Digital Asset Treasure Strategy Is Launched.

Pineapple Launches $100Mn Injective Digital Asset Treasury Strategy, Completing its First Purchase of $INJ Tokens

Initial Open Market Purchase Includes 678,353 INJ Tokens Worth $8.9Mn

Milestone Marks Launch of Pineapple’s Ambition to Become the Largest INJ Holder

Toronto, ON – October 7, 2025 – Pineapple Financial Inc. (NYSE American: PAPL) (“Pineapple” or the “Company”), a leading fintech platform, today announced the completion of its first open market purchase of Injective ($INJ) tokens, acquiring 678,353 $INJ tokens worth approximately $8.9Mn. This transaction marks the official commencement of Pineapple’s Injective Digital Asset Treasury (DAT) strategy.

…

“This initial Injective in-vest-ment underscores our conviction in the strength of the $INJ token’s future and our ambition to create the world’s largest and most productive INJ treasury platform,” said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial. “This transaction marks the first of many milestones, as we establish ourselves as a pioneering DAT company and work to achieve our vision to bring Pineapple’s mortgage finance business onchain using Injective’s financial infrastructure.”

…

Read the full article here.

—–

#3. PAPL Potential Catalyst – Recent Financials Point To A Company Trending In The Right Direction As Revenue Grows.

Pineapple Financial Reports Fiscal Year End 2025 Financial Results

Toronto, ON – December 3, 2025 – Pineapple Financial Inc. (NYSE American: PAPL)(“Pineapple” or the “Company”), a leading fintech platform, today announced audited financial results for the three and twelve month periods ended August 31, 2025.

Full Year Fiscal 2025 Financial Highlights

• Gross Billings reached $17.4Mn, up 7.1% from $16.3Mn in the same period last year
• Revenue rose 11.1% to $3.0Mn, compared to $2.7Mn in 2024
• Total Expenses declined 8.9% to $5.9Mn, down from $6.5Mn last year
• Loss from operations decreased from $3.8Mn to $3.0Mn, representing a 22.9% reduction.
• Net Cash Used in Operations improved significantly to $0.9Mn, from $1.7Mn in the same period last year
• Cash on Hand was $2.1Mn as of August 31, 2025, compared to $0.6Mn at August 31, 2024

“Over the past decade, Pineapple has been a pioneer in modernizing the Canadian mortgage industry, reshaping a traditional and fragmented space into a technology-driven, data-powered ecosystem,” said Shubha Dasgupta, CEO of Pineapple Financial. “Through relentless innovation and disciplined execution, we’ve built one of Canada’s fastest-growing mortgage companies and a platform that’s redefining efficiency, transparency, and scalability for brokers and consumers alike.”

Mr. Dasgupta added, “This year marked the beginning of the next phase in our evolution as we bridge traditional finance with the on-chain economy through our $100Mn Injective Digital Asset Treasury strategy. The initiative positions Pineapple as the world’s largest publicly traded holder of INJ tokens and establishes a new institutional benchmark for digital asset treasuries.”

…

Read the full article here.

—–

#4. PAPL Potential Catalyst – PAPL Establishes And Stacks Their Treasury Advisory Board With Significant Experience.

Pineapple Financial Establishes Digital Asset Treasury Advisory Board and Appoints Three Members from Injective Foundation

Toronto, Ontario–(Newsfile Corp. – November 20, 2025) – Pineapple Financial Inc. (NYSE American: PAPL) (“Pineapple” or “the Company”), a leading fintech platform, today announced the formation of a Digital Asset Treasury (DAT) Advisory Board as the Company advances its strategy of becoming the largest holder and staker of Injective ($INJ) and the premier on-chain mortgage finance platform in the world. The Advisory Board will initially include three members appointed from the Injective Foundation: Eric Chen, CEO and Co-Founder, Mirza Uddin, Head of Business, and Cooper Emmons, Institutional Lead.

Each new member of the Advisory Board brings deep expertise in block-chain technology and decentralized finance through their roles at the Injective Foundation, underscoring the growing strategic alignment between Pineapple and Injective. Chen co-founded the Injective Foundation in 2018, leading its mission to power next-generation decentralized finance infrastructure. Uddindrives strategic partnerships and institutional engagement across the global block-chain ecosystem, and Emmons oversees initiatives connecting traditional finance institutions with Injective’s on-chain solutions.

“Eric, Mirza, and Cooper bring extensive expertise in block-chain technology and on-chain finance to the Pineapple team,” said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial. “Our Advisory Board will serve a critical role as we work together to achieve our goal of bringing real-world financial systems on-chain and become the largest holder and staker of the $INJ token. Pineapple continues to bridge fintech and decentralized finance as a first-mover in the Injective ecosystem, and I look forward to leveraging the Injective team’s expertise as we continue to accumulate tokens and build out our treasury strategy.”

…

Read the full article here.

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#5. PAPL Potential Catalyst – A Major Milestone Could Generate Added Company Visibility (PAPL Notches Relisting On NYSE American).

Pineapple Financial Announces Relisting on the NYSE American

Milestone marks renewed growth strategy, increased accessibility for in-vest-ors, and operational momentum

Toronto, Ontario–(Newsfile Corp. – July 17, 2025) – Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian mortgage technology and brokerage company, today announced that it has successfully completed a 1-for-20 reverse st-ock split and has been approved for relisting on the NYSE American. Trading under the ticker symbol PAPL will resume on July 22, 2025.

This marks a significant milestone in Pineapple’s continued growth strategy and reflects the company’s return to full exchange compliance, supported by ongoing operational strength and a positive market outlook for the Canadian mortgage sector.

“We’ve always believed in building a business with long-term purpose and value,” said Shubha Dasgupta, CEO of Pineapple Financial. “This milestone is more than a re-listing, it’s a reflection of the work we’ve done to strengthen our business, reinforce our fundamentals, and position Pineapple for sustainable growth. We’re grateful to our shareholders and partners for their continued belief in our vision.”

…

Read the full article here.

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(NYSE American: PAPL) Recap – Look At These Potential Breakout Catalysts

#1. A Low Float of Just Over 1Mn Shares Could Create Significant Volatility.

#2. A Game-Changing $100Mn Injective Digital Asset Treasury Strategy Is Launched.

#3. Recent Financials Point To A Company Trending In The Right Direction As Revenue Grows.

#4. PAPL Establishes And Stacks Their Treasure Advisory Board With Significant Experience.

#5. A Major Milestone Could Generate Added Company Visibility (PAPL Notches Relisting On NYSE American).

——

We’re officially initiating coverage on Pineapple Financial Inc. (NYSE American: PAPL).

I’ll be back in touch shortly with updates as soon as they are available. Talk soon.

Sincerely,

FierceAnalyst | Jaks Swift

Editorial Writer

(Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.)

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