NVIDIA Deal Highlights Value of Tiny's Early Poolside Investment Ready to Announce with Confidence?

Tiny's original US$250,000 seed investment in Poolside now has an ascribed value of approximately US$11.1 million (C$15.8 million), or ~44x its initial investment, based on the reported NVIDIA financing terms.

NVIDIA's reported agreement combines a US$6 billion technology licence with a separate US$1 billion investment in Poolside at a US$13 billion post-money valuation.

Tiny retains its Poolside interest and separately holds shares in Poolside Infrastructure Company ("PIC") following the infrastructure spinout. No separate value has been assigned to Tiny's PIC shares.

Tiny's core strategy remains majority ownership of durable, cash-generating businesses. Poolside was a small, selective minority investment backing an exceptional founder we knew well.

Victoria, British Columbia--(Newsfile Corp. - October 19, 2026) - Tiny Ltd. (TSX: TINY) ("Tiny" or the "Company"), a holding company that acquires wonderful businesses for the long term, today provided information on its 2023 seed investment in Poolside, following Poolside's reported agreements with NVIDIA. Tiny continues to hold an indirect interest in Poolside and a separate direct interest in its infrastructure spinout, PIC.

As reported on August 20, 2026, NVIDIA agreed to invest US$1.0 billion in Poolside at a US$12.0 billion pre-money valuation, alongside a US$6.0 billion non-exclusive licence for Poolside's Model Factory. Model Factory is the software system Poolside uses to automate the building, training and testing of AI models. The financing terms imply a US$13 billion post-money valuation.

Applying that valuation to Tiny's approximately 0.0854% indirect interest following the financing would ascribe a value of approximately US$11.1 million to Tiny's interest. When compared with Tiny's original US$250,000 investment, this represents a value of approximately 44x the initial investment.

"We focus on buying majority stakes in businesses that generate cash, but occasionally make small investments in founders we know and think highly of," said Andrew Wilkinson, Executive Chairman of Tiny. "I've known Jason Warner for years. His track record as GitHub's CTO and at Heroku led us to back him in Poolside's seed round. The progress he and the team have made has been remarkable."

"Our separate stake in PIC gives us exposure to the rapidly expanding power and computing infrastructure AI needs."

PIC is developing Project Horizon, a power, data centre and cloud infrastructure campus in West Texas. Plans include an initial 200 MW building within a 1.2 GW campus, with first operations targeted for late 2027 and more than 7 GW of identified longer-term expansion potential, subject to financing and execution. Tiny's US$11.1 million Poolside stake value excludes any value attributable to its PIC shares.

About Tiny

Tiny is a Canadian holding company that acquires wonderful businesses using a founder-friendly approach. It focuses on companies with unique competitive advantages, recurring or predictable revenue streams, and strong free cash flow generation. Tiny typically holds businesses for the long-term, with a parent-level focus on capital allocation, collaborative management and operations, and incentive structures within the operating companies to drive results for Tiny and its shareholders.

Tiny currently has three principal reporting segments: Digital Services, which help some of the world's top companies design, build and ship amazing digital products; Software and Apps, which is home to Serato, the world's leading DJ software, and WeCommerce, a collection of leading application and theme businesses powering global e-commerce merchants; and Creative Platform, which is composed primarily of Dribbble, the social network for designers and digital creatives, as well as Creative Market, a premier online marketplace for digital assets such as fonts, graphics and templates.

For more about Tiny, please visit www.tiny.com or refer to the public disclosure documents available under Tiny's profile on SEDAR+ at www.sedarplus.ca.

Company Contact

Mike McKenna

Chief Financial Officer

Phone: 416-938-0574

Email: mike@tiny.com

SOURCE: Tiny Ltd.

Cautionary Note Regarding Forward-Looking Information

Certain statements in this press release may constitute forward-looking information or forward-looking statements (together, "forward-looking statements") that reflect management's current expectations. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "forecast", "expect", "estimate", "predict", "intend", "would", "could", "if", "may" and similar expressions. This press release includes, among others, forward-looking statements regarding the potential value and realization of Tiny's indirect investment in Poolside and its separate interest in PIC, the effects of Poolside's financing and licensing arrangements, PIC's proposed offering and project development, capacity, timing and expansion potential, Tiny's investment strategy, and the potential portfolio benefits of its exposure to AI infrastructure. These statements reflect current expectations of management regarding future events and speak only as of the date of this press release. In addition, forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make various assumptions and are subject to inherent risks and uncertainties. There is a significant risk that such predictions, forecasts, conclusions or projections will not prove to be accurate, that management's assumptions may not be accurate and that actual results, performance or achievements may differ significantly from such predictions, forecasts, conclusions or projections expressed or implied by such forward-looking statements. We caution readers not to place undue reliance on the forward-looking statements in this press release as a number of factors, many of which are beyond the Company's control, could cause actual future results, conditions, actions or events to differ materially from the targets, outlooks, expectations, goals, estimates or intentions expressed in the forward-looking statements. These factors include, but are not limited to: the accuracy of reports regarding Poolside's financing; the ability to monetize the Company's investment in Poolside; the volatility of the AI market; and the availability of additional capital to fund Poolside's growth opportunities. For a more detailed discussion of the Company's risk factors, see the list of risk factors in the Company's Annual Information Form dated March 30, 2026 which is available on SEDAR+ at www.sedarplus.ca under the Company's profile.

Forward-looking statements and information, including future-oriented financial information or financial outlook, are based on assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation: the potential impact of the Company's acquisitions and dispositions on relationships, including with regulatory bodies, stock exchanges, lenders, service providers, employees and competitors; risks related to the successful integration of acquired businesses; credit, liquidity and additional financing risks; potential conflicts of interest; general economic conditions; industry conditions; technological advancement; political volatility; currency fluctuations; competition from other industry participants; and stock market volatility. This list is not exhaustive of the factors that may affect any of the forward-looking information contained herein.

This press release contains information which has been obtained from or is based upon third party sources, including industry publications, reports and websites. Third party sources may state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance or guarantee as to the accuracy or completeness of included data. Although the data is believed to be reliable, neither the Company nor its agents have independently verified the accuracy, currency, reliability or completeness of any of the information from third party sources referred to in this presentation or ascertained from the underlying economic assumptions relied upon by such sources. The Company disclaims any responsibility or liability whatsoever in respect of any information derived from third party sources.

The Company cautions that the foregoing list is not exhaustive of all possible factors, as other factors could adversely affect our results. When relying on our forward-looking statements to make decisions with respect to the Company and its securities, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise indicated, the information in this press release is current as of the date of this press release and the Company does not intend, and disclaims any obligation, to update any forward-looking statements, whether written or oral, or whether as a result of new information or otherwise, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319844

Source: Tiny Ltd.

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