Sylogist reported Q2 fiscal 2026 results showing mixed performance. Total revenue fell 6% year-over-year to C$14.7 million as project services and hardware revenue declined. However, SaaS revenue grew 5% and SaaS annual recurring revenue increased 6% to C$33.5 million. Recurring revenue now represents 76% of total revenue, up from 70% in the prior year. Project services revenue dropped 20% to C$3.3 million, with gross margin falling to 8%. The company reduced its workforce and contractor base by approximately 40 positions, generating roughly C$3 million in savings. Adjusted EBITDA improved sequentially to C$1.6 million, representing a 10.8% margin. CEO Joel Leetzow said the company is prioritising execution, customer experience, product development and cost discipline before pursuing acquisitions.

Sylogist appoints Joel Leetzow as new CEO. brings more than 35 years of technology company leadership * Joel Leetzow will join Sylogist effective immediately as its new Chief Executive Officer * Mr. Leetzow is a proven software industry leader with a track record of growth, transformation and successful shareholder outcomes * Brings to Sylogist more than 35 years of experience leading technology companies through growth cycles, operational execution and strategic transactions CALGARY, Alberta, May 19, 2026 - Sylogist Ltd. (TSX:SYZ) ("Sylogist" or the "Company"), a leading public sector SaaS company, today announced that Joel Leetzow will join the Company effective immediately as its new Chief Executive Officer. Mr. Leetzow brings more than 35 years of leadership experience building and scaling software and technology businesses across public and private markets, including serving as both a director and Chief Executive Officer of public companies. His background includes SaaS business transformation, commercial growth execution and customer-centric leadership focused on delivering successful outcomes for customers, employees and shareholders. Mr. Leetzow previously served as President of Aware360, a technology and response business that helped keep lone and at-risk workers safer and more productive through scalable, people-centric SaaS solutions. At Aware360, Mr. Leetzow built and implemented the company's growth strategy and refined its go-to-market model, resulting in materially increased revenue expansion across the customer base. Mr. Leetzow also previously served as President, Chief Executive Officer and Director of Cortex Business Solutions Inc.,("Cortex") a Calgary-based public company trading on the TSX Venture Exchange. At Cortex, Mr. Leetzow led the turnaround and transformation of an underperforming technology company into a scalable SaaS software platform, increasing its enterprise value by over 4.5x until its sale in 2019. "I'm excited to join Sylogist at this important time in the Company's evolution," said Joel Leetzow, Chief Executive Officer of Sylogist. "Sylogist has a strong foundation, a talented team and deeply embedded customer relationships across the public sector. I believe there is a significant opportunity to strengthen operational execution, accelerate customer value creation and position the business for sustainable long-term growth, profitability and shareholder returns." 2 "After a thorough search process, we're thrilled to appoint Joel as our new CEO," said Errol Olsen, Chair of Sylogist's Board of Directors. "We believe that his background and his demonstrated ability to lead businesses will be invaluable to Sylogist." Olsen continued, "On behalf of the Board, we'd also like to thank Craig O'Neill for his important contributions to Sylogist as Interim President and Chief Executive Officer since his appointment in January, 2026." About Sylogist Sylogist provides mission-critical SaaS solutions to public sector customers globally across the government, nonprofit, and education market segments. The Company's stock is traded on the Toronto Stock Exchange under the symbol "SYZ". Information about Sylogist, inclusive of full financial statements together with Management's Discussion and Analysis, can be found at sedarplus.ca or at sylogist.com. Forward-looking Statements Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as will, expect, believe, may, ensure, remains or continue, or the negative of these terms, variations thereof or similar terminology. Forward-looking information in this news release includes statements made with respect to accelerating the adoption of Sylogist products in the nonprofit and local government sectors and enhancing the Company's ability to scale delivery capacity and expand pipeline coverage across priority nonprofit and government markets. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Additional information regarding some of these risks, uncertainties and other factors may be found in the Company's Annual Information Form for year ended December 31, 2025, and in the Management's Discussion and Analysis for the quarter ended March 31, 2026, and the year ended December 31, 2025, and other documents available on the Company's profile at www.sedarplus.ca. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For further information contact: 3 Jennifer Smith, Investor Relations LodeRock Advisors (416) 491-8004 [email protected] Share: