Splash Beverage Group — Second Quarter 2026 Earnings Summary

Financial Performance

• Loss from continuing operations for the six months ended June 30, 2026, was approximately $4 million, a decline of approximately 64% (or $7 million) compared to approximately $11 million for the same period in 2025.
• Management attributes the improvement primarily to significant cost-reduction initiatives implemented over the past six months.
• The company continues to reduce corporate overhead and administrative expenses.

Guidance and Future Outlook

• Management expects to reduce the loss from continuing operations by approximately 64% year-over-year for the six-month period based on cost reductions.
• The company aims to build a diversified cannabinoid-based health sciences platform capable of creating sustainable long-term value.
• Future focus includes executing against measurable milestones and allocating capital responsibly.

Business Segments and Product Lines

• The company is transitioning from the sale of alcoholic beverages to the development and commercialization of cannabinoid health and wellness products.
• In early July 2026, Splash entered into an exclusive global license for CannEpil®, a pharmaceutical-grade cannabinoid platform originally developed for drug-resistant epilepsy.
• The CannEpil® license was expanded to include veterinary applications, initially targeting companion-animal oncology and chronic pain management.
• On July 31, 2026, Splash entered into a development and collaboration agreement with Lupvindol Biosciences Ltd. to lead the scientific and FDA regulatory development of a CannEpil-based veterinary product through the FDA Center for Veterinary Medicine's Investigational New Animal Drug (INAD) and Conditional Approval pathways.
• Preparations have been initiated to relaunch CannEpil® in the United Kingdom, Ireland, and select Latin American markets.
• The company intends to rebrand as Endovia Health Sciences, with a corporate name and ticker symbol change expected to take effect on the NYSE American beginning August 24, 2026.

Market and Competitive Landscape

• The company is positioning itself as a diversified cannabinoid-based health sciences platform focused on pharmaceutical commercialization, FDA-regulated human and veterinary therapeutics, and cannabinoid consumer wellness and beverage opportunities.
• The company has engaged an experienced cannabinoid drug-development team to support its new strategic focus.

Risks and Challenges

• Risks include the ability to raise necessary capital to finance operations and satisfy contractual obligations.
• There is a risk regarding the ability to maintain the license for the CannEpil® product, which is central to the initial focus.
• Challenges include completing required studies, establishing product safety and efficacy, and obtaining and maintaining regulatory authorizations.
• Risks exist regarding the protection of intellectual property and the potential for competitors to market similar products.
• There is a risk that market demand for resulting products could be less than expected or projected.
• The company faces the risk of failing to meet debt obligations and the negative financial and operational consequences of doing so.
• There is a risk of failing to comply with NYSE American's continued listing standards, potentially leading to delisting.
• Forward-looking statements involve uncertainties regarding the ability to negotiate and execute definitive agreements, satisfy closing conditions, or obtain required approvals.

Management Commentary and Tone

• Brady Cobb, Interim Chief Executive Officer, stated that the first half of 2026 was about rebuilding the company's foundation through disciplined execution and significant cost reductions.
• Management views the actions taken since quarter-end as the execution phase of the strategy prepared for in the first half of the year.
• The tone emphasizes a straightforward focus on executing measurable milestones, responsible capital allocation, and building a platform for long-term shareholder value.

Other Key Points

• The company is simplifying its operating structure and legacy obligations.
• The strategic repositioning targets pharmaceutical, veterinary, and cannabinoid-based health sciences opportunities.
• The rebranding to Endovia Health Sciences reflects the evolution into a platform focused on acquiring, developing, and commercializing differentiated cannabinoid health technologies.