Turnium Technology Group Inc. (“TTGI” or the Company) is a Vancouver-based public company that delivers scalable, secure, and cost-effective network and Information Technology (IT) solutions through a unified Technology-as-a-Service (TaaS) model. TTGI operates globally through its three wholly owned subsidiaries: Turnium Network Solutions Inc. (TNSI), Claratti Pty. Ltd. (Claratti), and Insentra, which together form a complete suite of business technology solutions. TNSI’s Software-Defined Wide Area Network (SD-WAN) platform enables service providers, IT resellers, and enterprise customers to build and manage secure, resilient wide area networks. Claratti delivers telecom, managed networks & IT services, mobile services, cybersecurity, and cloud infrastructure solutions. Insentra provides channel-only advisory, professional services, and managed IT solutions across Canada, the United States, the United Kingdom, and Asia-Pacific. (1.0) REPORT HIGHLIGHTS: (1.1) Transformative Insentra Acquisition Closed: TTGI acquired substantially all the assets of Insentra and its US and UK affiliates, adding $24.5 million in trailing twelve-month revenue and more than 200 new channel partners. The acquisition should increase the annual revenue run-rate from approximately $7 million to $30 million and it positions TTGI as a multi-region, TaaS platform. (1.2) TNET Division Divested: TTGI sold the TNET back to Tenacious Services. The divestiture eliminates the TNET direct-to-customer operation, concentrates management focus on the partner-led model, reduces annual revenue by approximately $2M, but improves the Company’s margin profile. (1.3) Guidance Signals First Profitable Operating Period: After the Insentra acquisition, Management projects $28M to $32M in revenue and $2.1M to $4.1M in Adj. EBITDA for the 12 months from March 1, 2026. (1.4) Gross Margin Compression Reflects Business Mix Shift: Post-Insentra, the first six months of integration should likely compress gross margins; with the Company targeting longer-term gross margins of 35% to 45%, based on more service revenue. (2.0) FINANCIAL ANALYSIS & VALUATION (2.1) We valued TTGI using an Equal-Weighted Target Price of DCF and EV/Revenue, which we believe reflects its high recurring revenue mix, blended margins, and current revenue growth profile (organic, a full-year contribution from Claratti, and Insentra starting FQ2/2026). We are maintaining our Speculative Buy rating and increasing our 12-month Target Price to $0.30 per share.