Announcement PDF ASX ANNOUNCEMENT November 20 2025 HITIQ Launches PROTEQT™ North American Market Strategy Through Canadian Distribution Partnership Key Highlights ● PROTEQT™ North American Launch: Comprehensive market strategy combining institutional and consumer channels for PROTEQT™ branded products ● Exclusive Canadian Distribution: Rick Shultz appointed as exclusive distributor for PROTEQT™ across all Canadian sports markets (institutional and consumer), with non-exclusive US rights ● Proven Distribution Infrastructure: Partnership leverages extensive network across Canadian hockey ecosystem from grassroots to elite levels ● Immediate Commercial Momentum: Founding order and pilot programme deployment demonstrate strong market validation ● Target Market Scale: Canada's 607,000+ registered hockey players represent world's second- largest hockey market with strong safety culture ● Revenue Generation: Distribution agreement structured for sustainable long-term growth with ambitious multi-year targets ● Production Ready: Manufacturing capacity scaling to 100,000 units in 2026 to support North American expansion HITIQ Limited (ASX: HIQ) is pleased to announce the launch of its PROTEQT™ market strategy for North America through the appointment of Rick Shultz as exclusive distributor for PROTEQT™ instrumented mouthguards across Canada, with non-exclusive rights for the United States market. Strategic Distribution Partnership This partnership delivers immediate access to Canadian hockey through a network of long-term relationships that Rick and his associates have at all levels of hockey in Canada. Rick Shultz, former Chair of the Saskatchewan Junior Hockey League (SJHL), brings unparalleled connections throughout Canadian hockey, combining grassroots access with elite-level relationships to create a strong distribution strategy. Canada represents a strategic priority market for HITIQ, with over 600,000 registered hockey players and a culture deeply committed to athlete safety and concussion prevention. The appointment positions PROTEQT™ to address growing demand for advanced concussion management technology in contact sports at both grassroots and competitive levels. Dual-Channel Market Approach The Canadian distribution model enables PROTEQT™ to serve the entire hockey ecosystem through both institutional and consumer channels: Institutional Channel: Teams, leagues, and hockey organisations can deploy PROTEQT™ across their programmes—from competitive junior leagues to elite development pathways—providing comprehensive concussion management at the organisational level. Consumer Channel: Individual players and families can access PROTEQT™ directly, bringing elite-level protection to youth hockey, recreational leagues, and community programmes where team-wide adoption may not yet exist. This flexible distribution strategy addresses the full spectrum of the Canadian hockey market while establishing the foundation for broader North American expansion. Immediate Market Traction The partnership launches with commercial momentum through the distributor's initial founding order, reflecting strong confidence in PROTEQT™'s market potential and establishing immediate revenue generation from the Canadian territory. A pilot programme is being deployed at elite-level hockey, demonstrating PROTEQT™'s capabilities in competitive environments. Market Opportunity Canada's hockey market presents substantial opportunity: ● 607,000+ registered ice hockey players (Hockey Canada, 2024) ● Second-largest hockey market globally after United States ● Strong safety culture with increasing focus on concussion prevention ● Government and organisational pressure for enhanced athlete protection protocols ● Premium market positioning with established willingness to invest in quality safety equipment Leadership Statements Earl Eddings, Executive Chair, HITIQ: "Rick Schultz's appointment as our Canadian distributor represents a major milestone in HITIQ's North American expansion strategy. As former Chair of the Saskatchewan Junior Hockey League, Rick brings exceptional credibility and established relationships throughout hockey in Canada. His leadership experience delivers market access in one of the world's most hockey-focused nations. With over 600,000 registered hockey players and a culture that prioritises athlete safety, Canada represents a significant growth opportunity for PROTEQT™. The dual- channel approach is particularly powerful—teams and leagues can implement PROTEQT™ organisation-wide, while individual players and families can access the technology directly, regardless of team adoption. The ability to secure a pilot programme demonstrates the power of his network and validates PROTEQT™ in competitive hockey environments where player safety is paramount." Rick Schultz, Former SJHL Chair and Canadian Distributor: "PROTEQT™ represents a breakthrough in athlete safety technology that hockey in Canada has been waiting for. My experience and my associates' experience in hockey gives us deep insight into what teams and leagues need to protect their players. Through our relationships throughout hockey in Canada, from grassroots programmes to elite leagues, we can immediately connect teams and associations with this proven concussion management solution. We have had discussions and strong interest from additional sports eager to implement advanced safety protocols. With growing awareness of concussion risks and increasing demand for objective monitoring, the timing couldn't be better to bring PROTEQT™ to the Canadian market." Technology Validation PROTEQT™ builds on HITIQ's proven Nexus technology, which has been validated across elite sports globally, positioning PROTEQT™ for accelerated adoption in the Canadian market. Production and Capacity With production underway for 2025 and capacity planning for up to 100,000 units in 2026, HITIQ is positioned to support distributor growth across Canada and North America. Strategic Impact The Canadian distribution partnership advances HITIQ's global expansion strategy by: ● Establishing North American presence in a strategic market with immediate commercial traction ● Launching dual-channel distribution model that serves both institutional organisations and individual consumers ● Validating distribution framework that leverages existing sales networks for rapid market access ● Creating revenue foundation for sustained Canadian market growth ● Building reference market for broader North American expansion into collegiate and professional leagues To learn more about this announcement please visit the HITIQ Investor Hub by clicking on the link below. https://investors.hitiq.com/link/P4xV4P About HITIQ HITIQ Limited (ASX: HIQ) pioneers concussion management technology, delivering smart mouthguards and software for sports, clinical, and research applications globally. Its PROTEQT™ system enhances athlete safety across elite and community sports. About PROTEQT™ The PROTEQT™ instrumented mouthguard delivers comprehensive concussion management through impact detection, risk assessment, and integrated support services. Co-developed with Shock Doctor and building on proven Nexus technology, PROTEQT™ extends elite-level athlete protection to community sports globally. For more information on PROTEQT in Canada contact Bill Chow Senior Associate b2117chow@gmail.com (temporary email) or 306-961-4554