PEICMC Annual Report 2026

PRINCE EDWARD ISLAND CANNABIS MANAGEMENT CORPORATION Notes to Financial Statements Year Ended March 31, 2026

6. INVENTORY

2026

2025

$ 1,359,629 785,473 $2,145,102

$1,774,938 1,186,898 $2,961,836

Warehouse Stores

Inventories recognized in the statement of financial position consist of cannabis products and accessories held for sale. In 2026, a total of $21,055,806 (2025 - $19,314,191) of inventories was included in the statement of profit or loss as a cost of sales. The write-downs of inventories during fiscal 2026 is $Nil (2025 - $Nil). None of the inventories are pledged as security for liabilities.

7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

2026

2025

$2,805,075 348,458 $44,374 $3,197,907

$2,117,763 363,288 $144,338 $2,625,389

Accounts payable and accrued liabilities Prince Edward Island Liquor Control Commission HST payable

The payable from the Prince Edward Island Liquor Control Commission consist primarily of accruals to account for the shared use of resources of the Commission and is based on a best estimate of the cost of those resources used.

8. DUE TO PROVINCE OF PRINCE EDWARD ISLAND

Prince Edward Island Cannabis Management Corporation is a wholly owned Crown corporation of the Province of Prince Edward Island. The Corporation's employee salaries and benefits are paid by the Province and are subsequently reimbursed by the Corporation. Net loss incurred during the year is receivable from the Province and net income incurred during the year is payable to the Province.

2026

2025

$4,016,710

$4,062,277

Due to Province of Prince Edward Island

These transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties.

PEICMC 2025-2026 Annual Report | 37