Income Statement for TMQ

	Trilogy Metals Inc. (TMQ)
	Q3-CY2026	Q2-CY2026	Q1-CY2026	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014
Balance Sheet Date		2026-May-31	2026-Feb-28	2025-Nov-30	2025-Aug-31	2025-May-31	2025-Feb-28	2024-Nov-30	2024-Aug-31	2024-May-31	2024-Feb-29	2023-Nov-30	2023-Aug-31	2023-May-31	2023-Feb-28	2022-Nov-30	2022-Aug-31	2022-May-31	2022-Feb-28	2021-Nov-30	2021-Aug-31	2021-May-31	2021-Feb-28	2020-Nov-30	2020-Aug-31	2020-May-31	2020-Feb-29	2019-Nov-30	2019-Aug-31	2019-May-31	2019-Feb-28	2018-Nov-30	2018-Aug-31	2018-May-31	2018-Feb-28	2017-Nov-30	2017-Aug-31	2017-May-31	2017-Feb-28	2016-Nov-30	2016-Aug-31	2016-May-31	2016-Feb-29	2015-Nov-30	2015-Aug-31	2015-May-31	2015-Feb-28	2014-Nov-30	2014-Aug-31
Fiscal Period		Q2-FY2026	Q1-FY2026	Q4-FY2025	Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023	Q3-FY2023	Q2-FY2023	Q1-FY2023	Q4-FY2022	Q3-FY2022	Q2-FY2022	Q1-FY2022	Q4-FY2021	Q3-FY2021	Q2-FY2021	Q1-FY2021	Q4-FY2020	Q3-FY2020	Q2-FY2020	Q1-FY2020	Q4-FY2019	Q3-FY2019	Q2-FY2019	Q1-FY2019	Q4-FY2018	Q3-FY2018	Q2-FY2018	Q1-FY2018	Q4-FY2017	Q3-FY2017	Q2-FY2017	Q1-FY2017	Q4-FY2016	Q3-FY2016	Q2-FY2016	Q1-FY2016	Q4-FY2015	Q3-FY2015	Q2-FY2015	Q1-FY2015	Q4-FY2014	Q3-FY2014
Total Revenue			5,000$																									91,000$	137,000$	150,000$	122,000$	117,000$	135,000$	77,000$	17,000$	13,000$	23,000$	12,000$	11,000$	9,000$	16,000$	18,000$	18,000$	12,000$	8,000$	4,000$	0$	0$	1,000$
QoQ%																												(33.58%)	(8.67%)	22.95%	4.27%	(13.33%)	75.33%	352.94%	30.77%	(43.48%)	91.67%	9.09%	22.22%	(43.75%)	(11.11%)	.00%	50.00%	50.00%	100.00%	.00%	.00%	(100.00%)	.00%
YoY%																												(22.22%)	1.48%	94.81%	617.65%	800.00%	486.96%	541.67%	54.55%	44.44%	43.75%	(33.33%)	(38.89%)	(25.00%)	100.00%	350.00%	.00%	.00%	700.00%	.00%	(100.00%)	(100.00%)	(92.31%)
Cost Of Revenue			2,691,000$																									0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	10,000,000$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$
Gross Profit			(2,686,000$)																									91,000$	137,000$	150,000$	122,000$	117,000$	135,000$	77,000$	17,000$	13,000$	23,000$	(9,988,000$)	11,000$	9,000$	16,000$	18,000$	18,000$	12,000$	8,000$	4,000$	0$	0$	1,000$
Gross Margin			(53,720.00%)																									100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	(83,233.33%)	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%			100.00%
Operating Expenses		430,000$	567,000$	420,000$	214,000$	353,000$	343,000$	191,000$	294,000$	321,000$	416,000$	316,000$	280,000$	1,227,000$	3,606,000$	1,176,000$	1,166,000$	1,497,000$	3,115,000$	1,880,000$	1,596,000$	1,718,000$	3,423,000$	3,113,000$	2,106,000$	2,470,000$	4,475,000$	6,616,000$	12,672,000$	4,659,000$	4,458,000$	5,436,000$	10,043,000$	3,616,000$	2,828,000$	5,996,000$	8,694,000$	2,469,000$	1,771,000$	1,981,000$	3,918,000$	1,478,000$	1,541,000$	1,902,000$	3,972,000$	1,754,000$	1,530,000$	2,029,000$	2,912,000$
Operating Income
Operating Margin
Interest Income
Interest Expenses																												0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$
Income Before Tax		(6,345,000$)	(7,063,000$)	(34,694,000$)	(1,747,000$)	(2,177,000$)	(3,623,000$)	(1,636,000$)	(1,591,000$)	(1,759,000$)	(3,601,000$)	(3,024,000$)	(4,052,000$)	(2,803,000$)	(5,072,000$)	(5,222,000$)	(9,938,000$)	(4,074,000$)	(5,023,000$)	(6,067,000$)	(7,664,000$)	(3,413,000$)	(4,516,000$)	(3,226,000$)	(3,184,000$)	(3,002,000$)	171,179,000$	(6,525,000$)	(12,535,000$)	(4,509,000$)	(4,336,000$)	(5,319,000$)	(9,920,000$)	(3,664,000$)	(2,946,000$)	(6,726,000$)	(8,992,000$)	(2,390,000$)	(2,996,000$)	2,735,000$	(4,255,000$)	(1,647,000$)	(1,695,000$)	(2,090,000$)	(4,162,000$)	(1,750,000$)	(1,530,000$)	(2,029,000$)	(2,911,000$)
Tax Expenses
Net Income		(6,345,000$)	(7,063,000$)	(34,694,000$)	(1,747,000$)	(2,177,000$)	(3,623,000$)	(1,636,000$)	(1,591,000$)	(1,759,000$)	(3,601,000$)	(3,024,000$)	(4,052,000$)	(2,803,000$)	(5,072,000$)	(5,222,000$)	(9,938,000$)	(4,074,000$)	(5,023,000$)	(6,067,000$)	(7,664,000$)	(3,413,000$)	(4,516,000$)	(3,226,000$)	(3,184,000$)	(3,002,000$)	171,179,000$	(6,525,000$)	(12,535,000$)	(4,509,000$)	(4,336,000$)	(5,319,000$)	(9,920,000$)	(3,664,000$)	(2,946,000$)	(6,726,000$)	(8,992,000$)	(2,390,000$)	(2,996,000$)	2,735,000$	(4,255,000$)	(1,647,000$)	(1,695,000$)	(2,090,000$)	(4,162,000$)	(1,750,000$)	(1,530,000$)	(2,029,000$)	(2,911,000$)
Profit Margin			(141,260.00%)																									(7,170.33%)	(9,149.64%)	(3,006.00%)	(3,554.10%)	(4,546.15%)	(7,348.15%)	(4,758.44%)	(17,329.41%)	(51,738.46%)	(39,095.65%)	(19,916.67%)	(27,236.36%)	30,388.89%	(26,593.75%)	(9,150.00%)	(9,416.67%)	(17,416.67%)	(52,025.00%)	(43,750.00%)			(291,100.00%)
TTM																												(5,581.00%)	(5,075.86%)	(4,596.18%)	(5,152.77%)	(6,314.74%)	(9,609.92%)	(17,175.39%)	(32,390.77%)	(35,769.49%)	(21,169.09%)	(14,387.50%)	(11,412.96%)	(7,970.49%)	(15,135.94%)	(17,132.14%)	(23,088.10%)	(39,716.67%)	(78,925.00%)	(164,400.00%)	(856,300.00%)	(482,400.00%)	(251,020.00%)
Earnings to Minority
Earnings to Common Shareholders		(6,345,000$)	(7,063,000$)	(34,694,000$)	(1,747,000$)	(2,177,000$)	(3,623,000$)	(1,636,000$)	(1,591,000$)	(1,759,000$)	(3,601,000$)	(3,024,000$)	(4,052,000$)	(2,803,000$)	(5,072,000$)	(5,222,000$)	(9,938,000$)	(4,074,000$)	(5,023,000$)	(6,067,000$)	(7,664,000$)	(3,413,000$)	(4,516,000$)	(3,226,000$)	(3,184,000$)	(3,002,000$)	171,179,000$	(6,525,000$)	(12,535,000$)	(4,509,000$)	(4,336,000$)	(5,319,000$)	(9,920,000$)	(3,664,000$)	(2,946,000$)	(6,726,000$)	(8,992,000$)	(2,390,000$)	(2,996,000$)	2,735,000$	(4,255,000$)	(1,647,000$)	(1,695,000$)	(2,090,000$)	(4,162,000$)	(1,750,000$)	(1,530,000$)	(2,029,000$)	(2,911,000$)
QoQ%		10.17%	79.64%	(1,885.92%)	19.75%	39.91%	(121.46%)	(2.83%)	9.55%	51.15%	(19.08%)	25.37%	(44.56%)	44.74%	2.87%	47.45%	(143.94%)	18.89%	17.21%	20.84%	(124.55%)	24.42%	(39.99%)	(1.32%)	(6.06%)	(101.75%)	2,723.43%	47.95%	(178.00%)	(3.99%)	18.48%	46.38%	(170.74%)	(24.37%)	56.20%	25.20%	(276.23%)	20.23%	(209.54%)	164.28%	(158.35%)	2.83%	18.90%	49.78%	(137.83%)	(14.38%)	24.59%	30.30%	(39.08%)
YoY%		(191.46%)	(94.95%)	(2,020.66%)	(9.81%)	(23.76%)	(.61%)	45.90%	60.74%	37.25%	29.00%	42.09%	59.23%	31.20%	(.98%)	13.93%	(29.67%)	(19.37%)	(11.23%)	(88.07%)	(140.70%)	(13.69%)	(102.64%)	50.56%	74.60%	33.42%	4,047.86%	(22.67%)	(26.36%)	(23.06%)	(47.18%)	20.92%	(10.32%)	(53.31%)	1.67%	(345.92%)	(111.33%)	(45.11%)	(76.76%)	230.86%	(2.24%)	5.89%	(10.78%)	(3.01%)	(42.98%)	16.39%	41.49%	58.86%	57.75%
Earnings Per Share, Basic		(0.04$)	(0.04$)	(0.21$)	(0.01$)	(0.01$)	(0.02$)	(0.01$)	(0.01$)	(0.01$)	(0.02$)	(0.02$)	(0.03$)	(0.02$)	(0.03$)	(0.04$)	(0.07$)	(0.03$)	(0.03$)	(0.04$)	(0.05$)	(0.02$)	(0.03$)	(0.02$)	(0.02$)	(0.02$)	1.22$	(0.05$)	(0.09$)	(0.03$)	(0.03$)	0.00$	0.00$	(0.03$)	(0.03$)	(0.06$)	(0.09$)	(0.02$)	(0.03$)	0.03$	(0.04$)	(0.02$)	(0.02$)	0.00$	(0.04$)	0.00$	(0.03$)	(0.03$)	(0.05$)
Earnings Per Share, Diluted		(0.04$)	(0.04$)	(0.21$)	(0.01$)	(0.01$)	(0.02$)	(0.01$)	(0.01$)	(0.01$)	(0.02$)	(0.02$)	(0.03$)	(0.02$)	(0.03$)	(0.04$)	(0.07$)	(0.03$)	(0.03$)	(0.04$)	(0.05$)	(0.02$)	(0.03$)	(0.02$)	(0.02$)	(0.02$)	1.16$	(0.05$)	(0.09$)	(0.03$)	(0.03$)	0.00$	0.00$	(0.03$)	(0.03$)	(0.06$)	(0.09$)	(0.02$)	(0.03$)	0.03$	(0.04$)	(0.02$)	(0.02$)	0.00$	(0.04$)	0.00$	(0.03$)	(0.03$)	(0.05$)
Unlevered FCF Per Share, Basic		(0.01$)	(0.02$)	0.00$	(0.01$)	0.00$	0.00$	0.00$	0.00$	0.00$	0.00$	0.00$	(0.01$)	0.00$	(0.01$)	0.00$	0.00$	(0.01$)	(0.01$)	(0.01$)	(0.01$)		(0.01$)	(0.01$)	0.00$	(0.02$)	(0.03$)	(0.06$)	(0.06$)	(0.03$)	(0.02$)	0.00$	0.00$	(0.02$)	(0.04$)	(0.06$)	(0.05$)	(0.02$)	(0.01$)	(0.02$)	(0.04$)	(0.02$)	(0.01$)	0.00$	(0.04$)	0.00$	(0.02$)	(0.03$)	(0.04$)
Unlevered FCF Per Share, Diluted		(0.01$)	(0.02$)	0.00$	(0.01$)	0.00$	0.00$	0.00$	0.00$	0.00$	0.00$	0.00$	(0.01$)	0.00$	(0.01$)	0.00$	0.00$	(0.01$)	(0.01$)	(0.01$)	(0.01$)		(0.01$)	(0.01$)	0.00$	(0.02$)	(0.03$)	(0.06$)	(0.06$)	(0.03$)	(0.02$)	0.00$	0.00$	(0.02$)	(0.04$)	(0.06$)	(0.05$)	(0.02$)	(0.01$)	(0.02$)	(0.04$)	(0.02$)	(0.01$)	0.00$	(0.04$)	0.00$	(0.02$)	(0.03$)	(0.04$)
Average Shares, Basic		172,613,574	171,942,282	167,978,879	164,258,258	164,199,342	162,833,597	160,937,667	160,542,286	160,168,185	157,669,238	155,954,806	155,550,284	151,315,185	147,768,741	146,226,659	145,865,847	145,507,982	145,286,456	144,675,861	144,447,463	144,428,511	144,163,869	143,439,624	141,018,130	140,785,082	140,616,672	139,907,356	136,981,179	132,095,920	131,916,941	-131,206,885,165	131,470,146,000	117,583,238	106,270,835	105,678,959	105,581,406	105,543,283	105,447,428	105,276,397	105,213,320	104,985,207	104,940,884	-60,468,167,046	95,102,738	60,633,701,000	60,614,960	60,312,618	57,616,244
Average Shares, Diluted		172,613,574	171,942,282	167,978,879	164,258,258	164,199,342	162,833,597	160,937,667	160,542,286	160,168,185	157,669,238	155,954,806	155,550,284	151,315,185	147,768,741	146,226,659	145,865,847	145,507,982	145,286,456	144,675,861	144,447,463	144,428,511	144,163,869	148,966,281	141,018,130	140,785,082	147,649,507	139,907,356	136,981,179	132,095,920	131,916,941	-131,206,885,165	131,470,146,000	117,583,238	106,270,835	105,678,959	105,581,406	105,543,283	105,447,428	105,276,397	105,213,320	104,985,207	104,940,884	-60,468,167,046	95,102,738	60,633,701,000	60,614,960	60,312,618	57,616,244
EBIT		(6,345,000$)	(7,063,000$)	(34,694,000$)	(1,747,000$)	(2,177,000$)	(3,623,000$)	(1,636,000$)	(1,591,000$)	(1,759,000$)	(3,601,000$)	(3,024,000$)	(4,052,000$)	(2,803,000$)	(5,072,000$)	(5,222,000$)	(9,938,000$)	(4,074,000$)	(5,023,000$)	(6,067,000$)	(7,664,000$)	(3,413,000$)	(4,516,000$)	(3,226,000$)	(3,184,000$)	(3,002,000$)	171,179,000$	(6,525,000$)	(12,535,000$)	(4,509,000$)	(4,336,000$)	(5,319,000$)	(9,920,000$)	(3,664,000$)	(2,946,000$)	(6,726,000$)	(8,992,000$)	(2,390,000$)	(2,996,000$)	2,735,000$	(4,255,000$)	(1,647,000$)	(1,695,000$)	(2,090,000$)	(4,162,000$)	(1,750,000$)	(1,530,000$)	(2,029,000$)	(2,911,000$)
EBITDA		(6,345,000$)	(7,063,000$)	(34,694,000$)	(1,747,000$)	(2,177,000$)	(3,623,000$)	(1,636,000$)	(1,590,000$)	(1,757,000$)	(3,600,000$)	(3,022,000$)	(4,050,000$)	(2,801,000$)	(5,070,000$)	(5,220,000$)	(9,934,000$)	(4,069,000$)	(5,017,000$)	(6,062,000$)	(7,659,000$)	(3,408,000$)	(4,499,000$)	(3,210,000$)	(3,167,000$)	(2,960,000$)	171,221,000$	(6,420,000$)	(12,504,000$)	(4,471,000$)	(4,299,000$)	(5,281,000$)	(9,881,000$)	(3,622,000$)	(2,905,000$)	(6,685,000$)	(8,965,000$)	(2,371,000$)	(2,976,000$)	2,755,000$	(4,238,000$)	(1,627,000$)	(1,673,000$)	(2,066,000$)	(4,130,000$)	(1,657,000$)	(1,387,000$)	(1,888,000$)	(2,768,000$)