What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2026-04-09 compared with 2025-04-02 · 79 added, 92 removed, 148 unchanged (54% of the section changed)

A heritage of innovation

Founded in 1984, the Company is a leading provider of intelligent software and services to enterprises, governments and leading OEMs around the world.

Its products enable more than 255 million vehicles and secure 17 of the G20 governments.

Based in Waterloo, Ontario, the Company has two core divisions, each addressing large and growing market opportunities.

The Company’s QNX division is a leader in embedded software where the Company believes it is the world’s leading automotive foundational software supplier.

Its customers include leading automotive OEMs and Tier 1 suppliers that use its products in vehicles, as well as top medical OEMs.

The Company’s solutions are implemented into all the top 10 automotive OEMs, top 7 Tier 1 suppliers, 24 of the 25 top EV OEMs, and 9 of the 10 top medical OEMs.

The Company’s Secure Communications division delivers operational resiliency with a comprehensive, highly secure, and extensively certified product portfolio for mobile fortification, mission-critical communications and critical events management.

The Company was incorporated under the Business Corporations Act (Ontario) (“OBCA”) and has amalgamated with several of its wholly-owned subsidiaries, the last occurring through the filing of articles of amalgamation under the OBCA on November 4, 2013.

Founded in 1984, the Company equips, leading automakers, governments and regulated industries with secure, reliable software that drives productivity, resilience and mission-critical performance.

Based in Waterloo, Ontario, the Company has two core divisions, QNX and Secure Communications, each addressing large and growing market opportunities.

The Company’s QNX division develops safe, reliable software for embedded systems across technology-driven industries, including automotive, medical devices, robotics, and industrial automation.

The world’s leading automotive OEMs and Tier 1 suppliers rely on QNX® technology, which enables more than 275 million vehicles.

The Company’s Secure Communications division delivers operational resiliency with a government-grade portfolio of secure, certified solutions for mobile fortification, critical communications and crisis management.

The Company was incorporated under the Business Corporations Act (Ontario) and has amalgamated with several of its wholly-owned subsidiaries, the last occurring through the filing of articles of amalgamation on November 4, 2013.

The Company’s common shares trade under the ticker symbol “BB” on the New York Stock Exchange (“NYSE”) and the Toronto Stock Exchange (“TSX”).

On February 3, 2025, the Company completed the sale of its Cylance endpoint security assets and related liabilities to Arctic Wolf Network, Inc.

(“Arctic Wolf”) for $160.0 million of cash, subject to certain adjustments of approximately $39.1 million, and 5.5 million common shares of Arctic Wolf.

As a result of the Cylance sale, it is no longer reported alongside UEM, SecuSuite and AtHoc as the Cybersecurity segment, and those three businesses are now reported separately from Cylance as the Secure Communications segment.

The financial results of Cylance are presented as discontinued operations and are included in “loss from discontinued operations, net of tax” in the Consolidated Statements of Operations and have been removed from the presentation of results from continuing operations.

Prior period comparatives in the financial statements, and throughout this Annual Report on Form 10-K where applicable, have been recast to reflect this change.

Intercorporate Relationships

The Company has three material subsidiaries, all of which are wholly-owned, directly or indirectly, by the Company in each case as at February 28, 2025.

The Company has four material subsidiaries, all of which are wholly-owned, directly or indirectly, by the Company in each case as at February 28, 2026.

Name of Subsidiary Jurisdiction of Incorporation or Organization

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Secusmart GmbH Duesseldorf, Germany

BlackBerry Singapore Pte.

Limited Singapore

Industry Background

The world is rapidly moving to one where everyone and everything can be intelligently connected at the edge.

This evolution is being enabled by the proliferation of devices in the Internet of Things, increasing device sophistication and compute power, and powerful software that can bring these devices to life.

Industries of all types, from automotive and manufacturing to healthcare and robotics, are experiencing the profound impact of this evolution, as intelligent edge devices deliver unprecedented capabilities by making immediate, context-aware decisions locally.

The Company believes the benefits of the intelligent edge are real and immense, promising enhanced security, reduced latency, and rigorous efficiency, and position the intelligent edge as a technological pillar that it expects will shape the digital landscape of the future.

This rapid evolution can be attributed to increasing connectivity, decreasing sensor and hardware component costs, and continuous innovation that leverages edge data.

The associated surge in data generation and computing power at the edge is creating new ways for businesses to provide impactful applications that rely on real-time data processing and insights.

result, software-defined connected devices are improving safety, security, and reliability by allowing for dynamic updates, which enables greater flexibility to scale and adapt to evolving customer demands or industry requirements.

While all industries are experiencing the shift toward the intelligent edge, the Company believes these trends are most prevalent in the automotive industry, as evidenced by the growth and complexity of software-defined vehicles (“SDVs”).

Powered by continual advancements in computing hardware such as the move from microcontrollers to microprocessors, modern vehicles increasingly operate on highly sophisticated and interconnected software stacks and the data produced by vehicles is proliferating at a rapid rate.

The entire automotive value chain, from OEMs to Tier 1 suppliers, will need foundational software to capture, synthesize, analyze and monetize this massive volume of real-time data to develop innovative solutions that deliver safer, more efficient and more fulfilling driving experiences.

These trends are not just present in automotive, but are also being seen in industrial automation, healthcare and robotics.

The Company further believes that increased and evolving regulatory requirements as well as consumer expectations will create further demand for high-performance SDVs and other IoT devices.

With increasing compute capabilities and system complexity, there is an imperative for high-performance foundational software that maintains the highest level of functional safety and security of systems at the edge.

At an increasing rate, people and systems are being intelligently connected at the edge.

This evolution is driven by the proliferation of Internet‑connected devices, advances in compute power, and increasingly sophisticated software capable of enabling real‑time, contextual decision‑making directly on the device.

A wide range of industries are undergoing profound transformation as intelligent edge systems unlock new levels of capability, autonomy, and operational efficiency.

The Company believes the benefits of the intelligent edge, such as enhanced security, reduced latency, improved reliability, and greater efficiency, will make it a foundational pillar of the digital ecosystem for years to come.

This evolution is further accelerated by increasing connectivity, declining sensor and hardware costs, and continuous innovation in harnessing real‑time edge data.

Organizations are increasingly deploying applications that depend on immediate insights to generate dynamic, responsive outputs.

They also look to deploy secure, over‑the‑air updates to devices in the field, allowing them to scale, evolve, and adapt to changing customer needs and emerging regulatory requirements.

Among intelligent edge architectures, the automotive industry is the clear leader today, driven by the rapid rise of software‑defined vehicles (“SDVs”).

As the most complex robots in wide use currently, SDVs illustrate the escalating intelligence, connectivity, and safety expectations placed on edge systems.

Advancements such as the shift from microcontrollers to high‑performance microprocessors, the consolidation of distributed ECUs into centralized compute platforms, and the exponential growth of in‑vehicle data have made powerful, safety‑certified foundational software indispensable for OEMs and Tier 1 suppliers seeking to innovate and monetize vehicle capabilities throughout the product lifecycle.

Similar requirements are now taking hold across other verticals, including industrial automation, healthcare, robotics, and physical artificial intelligence (“AI”), where organizations increasingly demand SDV‑level capabilities.

As these industries adopt more autonomous, data‑driven, and software‑defined operating models, the need for a safe, reliable, high‑performance platform is becoming highly relevant for them as well.

The Company believes it is uniquely positioned to lead this cross‑industry shift toward software‑defined edge systems.

Its QNX platform, proven over decades in demanding, mission‑critical environments, delivers the reliability, security, safety and real‑time performance these emerging architectures require.

With a mature, scalable technology stack designed for mixed‑criticality workloads, the Company offers a strong foundation for customers building the next generation of intelligent, connected edge products across automotive and other rapidly advancing industries.

Secure Communications

The secure communications industry is a critical component of the broader security software market, encompassing a wide range of solutions designed to safeguard sensitive voice, messaging, and data transmissions from unauthorized interference.

The escalating frequency and sophistication of cyberattacks, exemplified by high-profile incidents like those attributed to the Salt Typhoon group, highlight the vulnerabilities in traditional communication networks and promote demand for secure communications solutions.

In parallel, ongoing digital transformation and the prevalence of mobile and decentralized workforces, together with the global proliferation of privacy and data protection regulations, also drive reliance on digital communication tools and the adoption of secure communication practices.

The escalating frequency and sophistication of cyberattacks, highlighted by high‑profile incidents such as those attributed to the Salt Typhoon group, continue to expose weaknesses in traditional communication networks and reinforce the demand for hardened, security‑led communication platforms.

At the same time, accelerating digital transformation, the rise of mobile and decentralized workforces, and the global expansion of privacy and data protection regulations are driving organizations to reevaluate how and where their sensitive communications are handled.

As concerns over data sovereignty intensify, many industries are shifting back toward on‑premise and sovereign‑controlled deployment models to ensure that critical information remains within their jurisdictional and regulatory boundaries.

This trend is further increasing the reliance on secure communications solutions that can deliver strong encryption, controlled data residency, and guaranteed operational resilience, without compromising performance or usability.

Secure Voice, Messaging and Conferencing

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QNX, Secure Communications and Licensing.

The QNX division consists of QNX®, BlackBerry Radar®, BlackBerry® Certicom® and BlackBerry IVY®.

The QNX division consists of QNX®, BlackBerry Radar® and BlackBerry® Certicom®.

With 45 years of embedded software expertise and a rich intellectual property portfolio, QNX is an industry leader whose high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security and reliability.

QNX is a trusted supplier of operating systems, hypervisors, frameworks and development tools that help reduce hardware dependency while enabling new possibilities in high-performance computing, standards-based virtualization technologies, and cloud enablement.

QNX is a trusted supplier of operating systems, hypervisors, middleware and development tools that help reduce hardware

dependency while enabling new possibilities in high-performance computing, standards-based virtualization technologies, and cloud enablement.

QNX offers a growing portfolio of safety-certified, secure and reliable platform solutions and is focused on achieving design wins with automotive OEMs, Tier 1 vendors and automotive semiconductor suppliers.

These solutions include the BlackBerry QNX real-time operating system, QNX® Hypervisor for Safety and QNX® Software Development Platform (SDP), as well as other products designed to alleviate the challenges of compliance with ISO 26262, the automotive industry’s functional safety standard.

These solutions include the BlackBerry QNX real-time operating system (RTOS), QNX® Hypervisor for Safety and QNX® Software Development Platform (SDP), as well as other products designed to alleviate the challenges of compliance with ISO 26262, the automotive industry’s functional safety standard.

The QNX pre-certified microkernel operating system is specifically tailored for safety-critical embedded systems and toolchains that are pre-qualified for building these systems.

The QNX Hypervisor for Safety prevents safety systems from potential impact of malfunction in other systems.

These products help drive a faster time to market and also reduce developer friction.

QNX is also a preferred supplier of embedded systems for companies building medical devices, rail systems, industrial automation solutions, hardware security modules, building automation systems, green energy solutions, and other mission-critical applications.

These products help to reduce time to market and developer friction.

QNX and Vector Informatik GmbH recently introduced Alloy Kore™, a foundational vehicle software platform designed to simplify and accelerate the development of software-defined vehicles.

Alloy Kore integrates QNX’s safety-certified RTOS and virtualization capabilities and Vector’s safe middleware modules to deliver a lightweight, scalable foundation for deploying applications across vehicle domains.

QNX is also a preferred supplier of embedded systems for companies building medical devices, robotics, physical AI solutions, rail systems, industrial automation solutions, aerospace and defence systems, and other mission-critical applications.

QNX solutions offer the performance, determinism, and trust necessary to enable physical AI systems, being autonomous systems that engage with and act in the real world, powering them to run safely, predictably and at scale.

QNX collaborates closely with customers to understand their specific requirements and more quickly and effectively develop solutions to meet their evolving needs.

Approximately 20% of QNX revenue is derived from non-automotive embedded systems as of Fiscal 2026.

BlackBerry Radar is a family of asset monitoring and telematics solutions for the transportation and logistics industry.

The BlackBerry Radar solution includes devices and secure cloud-based dashboards for tracking containers, trailers, chassis, flatbeds and heavy machinery, for reporting locations and sensor data, and for enabling custom alerts and fleet management analytics.

BlackBerry Certicom leverages patented elliptic curve cryptography to provide device security, anti-counterfeiting and product authentication solutions to protect vehicles, critical infrastructure and IoT deployments from product counterfeiting, re-manufacturing and unauthorized network access.

BlackBerry IVY is an emerging intelligent vehicle data platform that allows automakers to safely access a vehicle’s sensor data, normalize it, and apply machine learning at the edge to generate and share predictive insights and inferences.

Automakers and developers can use this information to create responsive in-vehicle applications and services that enhance driver and passenger experiences.

BlackBerry Certicom leverages patented elliptic curve cryptography to provide device security, anti-counterfeiting and product authentication solutions to deliver end-to-end security with managed public key infrastructure, code signing, and other applied cryptography and key management solutions.

The QNX division also provides engineering consulting services, including services to assist OEM customers to bring their products to market on time, as well as services to ensure compliance with relevant functional safety standards.

Secure Communications

The Secure Communications division consists of BlackBerry UEM solutions, BlackBerry SecuSUITE and BlackBerry AtHoc.

The Secure Communications division consists of BlackBerry SecuSUITE, BlackBerry UEM and BlackBerry AtHoc.

BlackBerry SecuSUITE is a certified, multi-OS voice, messaging and file-sharing solution with advanced encryption, anti-eavesdropping and continuous authentication capabilities, providing a maximum level of security on conventional mobile devices for classified and restricted government use.

The Company’s endpoint management offerings include BlackBerry® UEM, BlackBerry® Dynamics™, BlackBerry® Workspaces, and BlackBerry Messenger (BBM®) Enterprise.

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BBM Enterprise is an enterprise-grade secure instant messaging solution for messaging, voice and video.

BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution with advanced encryption, anti-eavesdropping and continuous authentication capabilities, providing a maximum level of security on conventional mobile devices for government and businesses.

BlackBerry AtHoc is a secure, networked critical event management solution that enables people, devices and organizations to exchange critical information in real time during business continuity and life safety operations.

The platform securely connects with a diverse set of endpoints to distribute emergency mass notifications, improve personnel accountability and facilitate the bidirectional collection and sharing of data within and between organizations.

BlackBerry AtHoc is a secure, networked crisis communications platform that enables people, devices and organizations to exchange information in real time during business continuity and emergency operations, promoting public safety and protecting critical infrastructure.

The platform securely connects with a diverse set of endpoints to distribute mass notifications, improve personnel accountability and facilitate the bidirectional collection and sharing of data within and between organizations.

The Secure Communications division also provides enterprise consulting services, including platform-agnostic strategies to address mobility-based challenges, providing expert deployment support, end-to-end delivery (from system design to user training), application consulting, and experienced project management.

The Licensing division is responsible for the management and monetization of the Company’s global patent portfolio.

The patent portfolio continues to provide a competitive advantage in the Company’s core product areas as well as providing leverage in the development of future technologies and licensing programs in both core and adjacent vertical markets.

The Company owns rights to an array of patented and patent pending technologies which include, but are not limited to, operating systems, networking infrastructure, acoustics, messaging, enterprise software, automotive subsystems, cybersecurity, cryptography and wireless communications.

The portfolio provides a competitive advantage in the Company’s core product areas and generates revenue through patent licensing, sales and enforcement activities.

As of February 28, 2026, the Company owned approximately 6,100 worldwide patents and applications.

The Company primarily generates revenue from the licensing of enterprise software and sales of associated services, including its QNX embedded software platforms, solutions and services, Secure Communications solutions and services and technology licensing.

The Company focuses on strategic industries with vertical-specific use cases, including regulated enterprise markets such as automotive, government, financial services, transportation, healthcare, and other adjacent markets where high-performance, foundational embedded software platforms and solutions are important, such as robotics, medical devices, and industrial automation (“General Embedded Market” or “GEM”).

The Company licenses QNX and BlackBerry Certicom technology and provides professional engineering services to OEM customers in the automotive and GEM software markets via a direct sales force and indirectly through channel partnerships.

The licenses are primarily monetized as royalties on units shipped and through project development seats, tools and maintenance fees.

The Company markets and sells its BlackBerry Radar secure asset monitoring products and services to enterprise users through its internal sales force as well as through third party distribution channels.

The Company generates revenue primarily from the licensing of enterprise software and the sale of associated services, including QNX embedded software platforms, Secure Communications solutions, and technology licensing.

The Company’s go‑to‑market strategy supports both perpetual and subscription‑based business models, providing commercial flexibility while supporting recurring and usage‑based revenue streams.

The Company focuses on regulated industries with vertical‑specific use cases, including automotive, government, financial services, transportation, and healthcare, as well as adjacent markets requiring high‑performance embedded software platforms, such as robotics, medical devices, and industrial automation (the “General Embedded Market” or “GEM”).

The Company licenses QNX and BlackBerry Certicom technology and provides professional engineering services to OEM customers in the automotive and GEM software markets through a direct sales force and channel partners.

QNX revenue is generated through perpetual and subscription licenses and royalty‑based models, including royalties on units shipped, as well as development seats, tools, maintenance, and lifecycle services.

The Company also markets and sells BlackBerry Radar secure asset monitoring products and services to enterprise customers through its internal sales force and third‑party distribution channels, primarily under subscription‑based arrangements..

Secure Communications

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Trusted by the world’s leading automakers, QNX technology is embedded in more than 275 million vehicles, a year-over-year increase of 20 million and an increase of 100 million since 2020.

QNX continues to win an outsized share of advanced SDV architectures and is now working with:

• 16 of the top 20 global OEMs for cockpit solutions (in production or development, MPU based);

• 15 of the top 20 global OEMs for Advanced Driver Assistance Systems (ADAS) Solutions (representing 80%+ of global light passenger vehicle volumes);

• 100% of all internationally approved Commercial Level 3 Highly Automated Driving (HAD) vendors.

QNX continues to win an outsized share of advanced SDV architectures and is now working with over 45 automakers, including the top 10 OEMs and 24 of the top 25 top EV OEMs, and with every major Tier 1 supplier.

The QNX strategic roadmap investments are focused on three pillars:

(1) innovation at the edge, (2) innovation in safety and security and (3) reduction of developer friction – all underpinned by a cloud-first embedded development strategy.

Consistent with this roadmap, the division recently announced a number of new products and initiatives that it believes will enable it to maintain its strong market position and open up new potential revenue streams.

At CES 2025, alongside Vector and TTTech Auto, QNX announced a multi-year, global undertaking to collaborate, develop and market a foundational vehicle software platform that will automakers to shift their focus from cumbersome and costly software integration to delivering innovative consumer-facing applications that build brand loyalty, differentiation and value.

Pre-integrated, lightweight and certified to the automotive industry’s highest functional safety (ISO 26262 ASIL D) and security (ISO 21434) standards, this platform will be able to scale vehicle-wide, making it easier for automakers to accelerate their SDV development efforts while optimizing costs.

The division also recently introduced QNX® Cabin, a pre-integrated digital cockpit software reference implementation that provides a development framework for designing digital cockpit systems.

It emphasizes software portability and cloud-first development, aiming to reduce development costs and accelerate time-to-market for OEMs.

Built on ISO 26262 ASIL D-certified software, QNX Cabin enables the development of complex digital cockpit features, such as instrument clusters, audio, and driver information displays, ensuring a cohesive end-user experience.

Also at CES 2025, the division announced the launch of QNX Everywhere, an initiative offering easy access to QNX software for non-commercial use for students, academic and research organizations, and hobbyists, helping to boost skills across the global developer ecosystem, supporting the advancement of embedded automotive software innovation.

QNX Container support was also announced and will provide a standards-based environment for the deployment, execution, and management of container technology on QNX-based devices, enabling customers to leverage the benefits of container technology as well as the safety, security and reliability provided by the QNX microkernel architecture.

with this roadmap, the division recently announced new products and progress on key initiatives that it believes will enable it to maintain its strong market position and open up new potential revenue streams.

The new Alloy Kore platform, unveiled jointly with Vector at CES 2026, provides a competitive advantage in the development of SDVs, enabling automakers to innovate faster and with greater confidence.

An early access release is now available via different distributions from Vector or QNX, giving automakers flexibility in how they adopt and integrate the solution.

The division has also launched the QNX® General Embedded Development Platform (GEDP), a modular and scalable foundational software stack designed to accelerate go-to-market for developers of embedded systems in the GEM market, while ensuring they meet the highest standards of functional safety, security, and performance.

The QNX division competes principally with other providers of embedded foundational software, including Linux open-source operating systems.

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Department of Defense Information Network’s Approved Product List.

In fiscal 2026, BlackBerry UEM also became the first mobile device management platform (“MDM”) to be certified by the German Federal Office for Information Security, BSI, certification program for MDM on Apple Indigo (iOS native devices in government operations) and Samsung Knox devices.

With the BlackBerry UEM, the Company competes with other MDM and UEM providers.

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With available incident management and encrypted end-to-end instant messaging capabilities, the platform offers a suite of secure crisis communication services to meet the growing number of use cases for emergency or mass notifications.

BlackBerry AtHoc has received FedRAMP certification and is the leading provider of network-centric, interactive crisis communication to the U.S.

BlackBerry AtHoc is currently the only critical events management platform authorized with a FedRAMP High certification and is the leading provider of network-centric, interactive crisis communication to the U.S.

Department of Defense and the U.S.

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The Company makes significant investments to support its offerings and is committed to hiring and retaining top talent.

The Company dedicates a major portion of its R&D investments to the development of software products and services for its QNX and Secure Communications solutions.

Solutions include leading security capabilities at each level of the platform in order to address the needs of enterprise IT departments and end users for securing devices, applications, content and work data at rest and in transit.

The Company dedicates a major portion of its R&D investments to the development of software products and services for its QNX and Secure Communications divisions.

QNX focuses on designing, developing and maintaining safe, secure and high-performance foundational software for embedded systems in markets such as automotive, medical devices, industrial controls, robotics, commercial vehicles, rail, and aerospace and defense.

The Secure Communications division is focused on delivering security-first software for governments, regulated industry and critical infrastructure operators where it builds on a foundation of sovereign-grade security that addresses the needs of these customers by protecting data at rest, in transit, and in use, while enabling productivity across these mission-critical environments.

The Company is actively using AI to accelerate work in product engineering and other functions where it is safe to do so, but this usage does not redefine accountability or weaken security discipline.

The Company aims to use AI to reduce repetitive work and increase consistency, subject to a guiding principle that human judgment and deterministic verification remain central to all AI-supported operations.

The Company’s investment in longer term research is, in part, supported by taking advantage of specific government financial assistance programs where available.

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Third Party Software Developers

The primary development platform for BlackBerry QNX-based systems is the QNX Software Development Platform, which includes the QNX Neutrino real-time operating system and the QNX Tool Suite featuring the QNX Toolkit for Visual Studio Code and the Momentics® integrated development environment.

The QNX SDP is complemented by a portfolio of products including QNX Hypervisor, QNX OS for Safety, QNX Hypervisor for Safety, QNX Sound, QNX Cabin, IVY and other QNX products.

The Company offers the BlackBerry Development Platform, an enterprise-grade toolset which enables application developers and ISVs to build secure, powerful and customized solutions for almost every use case and to commercialize them on the BlackBerry® Marketplace for Enterprise Software, which contains over 100 enterprise applications and solutions.

The primary development platform for QNX-based systems is the QNX SDP, which includes the QNX Operating System and the QNX Tool Suite featuring the QNX Toolkit for Visual Studio Code and the Momentics® integrated development environment.

The QNX SDP is complemented by the QNX Hypervisor, QNX® OS for Safety, QNX Hypervisor for Safety, QNX® Sound, QNX Cabin, and other products in the QNX product portfolio.

Through the QNX Everywhere initiative, the

Company provides free access to the QNX SPD to students, hobbyists, and prototypers for non-commercial use.

More than 12,000 non-commercial licenses have been issued and QNX has signed more than 80 memoranda of understanding with universities across India and North America to integrate QNX tools and technologies into engineering curricula.

In this way, the Company aims to equip developers to build QNX-based embedded systems across multiple market segments.

The Company offers the BlackBerry Development Platform, an enterprise-grade toolset which enables application developers and ISVs to build secure, powerful and customized solutions for secure communications use cases and to commercialize them on the BlackBerry® Marketplace for Enterprise Software.

The platform includes the BlackBerry Dynamics software development kit (“SDK”), which allows developers to integrate BlackBerry security into their enterprise applications, resulting in a managed application where corporate data is isolated and protected at all times, both while at rest and in transit.

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Intellectual Property

The protection of intellectual property is an important part of the Company’s operations.

The policy of the Company is to apply for patents and to acquire or seek other appropriate proprietary or statutory protection when it develops valuable new or improved technology.

The Company believes that the rapid pace of technological change in the industries in which the Company operates makes patent and trade secret protection important, and that this protection must be supported by other means including the ability to attract and retain qualified personnel, new product introductions and frequent product enhancements.

The Company believes that its patent portfolio continues to provide a competitive advantage in its core product areas as well as provide leverage in the development of future technologies.

The Company does not believe that it is dependent upon a single patent or even a few patents and instead primarily depends upon its extensive know-how, innovative culture, and technical leadership.

The Company protects its technology through a combination of patents, designs, copyrights, trade secrets, confidentiality procedures and contractual arrangements.

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The Company collects and uses a wide variety of information for various purposes in its business, including to help ensure the integrity of its services and to provide features and functionality to customers.

This aspect of the Company’s business is subject to a broad array of evolving privacy and data protection laws, including the European Union’s General Data Protection Regulation, the proposed Canadian Consumer Privacy Protection Act, regional privacy frameworks such as the Asia-Pacific Economic Cooperation Privacy Framework, and national and state laws within the United States, including the California Privacy Rights Act.

This aspect of the Company’s business is subject to a broad array of evolving privacy and data protection laws, including the European Union’s General Data Protection Regulation, regional privacy frameworks such as the Asia-Pacific Economic Cooperation Privacy Framework, and national and state laws within the United States, including the California Privacy Rights Act.

These laws impose strict operational requirements and can provide for significant penalties for non-compliance.

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Information about Executive Officers

The Company made one executive officer appointment during fiscal 2025, naming Tim Foote as Chief Financial Officer.

The following table sets forth the name, province or state, and country of residence of each executive officer of the Company and their respective positions and offices held with the Company and their principal occupations during the last five years.

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Washington, USA

Senior Vice President and Chief People Officer

Senior Vice President, People, OfferUp (2023-2024);

Chief People Officer Senior Vice President, People, OfferUp (2023-2024);

Senior Vice President, People, SeekOut (2021-2023)

Vice President, People, Chef Software (2018-2020)

Mattias Eriksson

Illinois, USA

President, IoT

Senior Vice President and Head of Product, HERE Technologies (2019-2020)

Texas, USA Chief Financial Officer Chief Financial Officer, Cybersecurity (2024);

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President, Secure Communications;

Director President and Chief Revenue Officer, McAfee (2013-2020)

Ontario, Canada Chief Legal Officer and Corporate Secretary Vice President, Deputy General Counsel and Corporate Secretary (2021-2022);

Vice President, Deputy General Counsel and Assistant Corporate Secretary (2015-2021)

Director President, Cybersecurity (2021-2023)

Ontario, Canada Chief Legal Officer and Head of Government Affairs Vice President, Deputy General Counsel and Corporate Secretary (2021-2022)

Human Capital

The Company’s 1,820 regular employees, contract workers and student workers as of February 28, 2025 work as a team in 16 countries worldwide, with approximately 58% in Canada, 15% in the U.S., and 27% outside of North America.

The Company ’s 1,749 re gular employees, contract workers and student workers as of February 28, 2026 work as a team in 15 countries worldwide, with approximately 57% in Canada, 14% in the U.S., and 29% outside of North America.

None of the Company’s employees in Canada or the United States are represented by a labour union;

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The Company offers employees an equitable and competitive total rewards program, designed to recognize and reward both individual and company performance.

The Company provides a range of financial and benefit programs such as its employee share purchase program, employee recognition programs, retirement savings plans, family-friendly leave policies, health and wellness programs, employee and family assistance program, as well as corporate discounts, all designed to support the overall wellness of the Company’s employees and their families.

The Company provides a range of financial and benefit programs such as its employee share purchase program, employee recognition program, retirement savings plans, family-friendly leave policies, health and wellness programs, employee and family assistance program, as well as corporate discounts, all designed to support the overall wellness of the Company’s employees and their families.

The Company embraces a diverse and inclusive workplace, providing a welcoming environment in which every individual is valued and respected, regardless of race, gender, sexual orientation, gender identity, religion, age, veteran status, disability status or any other protected element of diversity.

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The Company believes career development is unique and personal for each employee.

The Company offers career development and growth in many forms such as job shadowing, job rotation, stretch assignments, enhanced scope or responsibility, networking, lateral movement, and promotions.

The Company encourages employees to broaden their scope and understanding of the business, and to build additional skills to attain their career aspirations.

Employees are supported in their growth and development through the Company’s tuition and educational reimbursement program, subsidies for professional association memberships, career planning resources, and partnerships with various industry networks.

The Company offers career development and growth in many forms such as stretch assignments, enhanced scope or responsibility, lateral movement, and promotions.

The Company employs a model of continuous performance feedback to encourage employees to broaden their scope and understanding of the business, and to build additional skills to attain their career aspirations.

The Company invests in a paid co-op and intern student program, supporting the personal and professional development of the next generation of BlackBerry talent.

Building upon its culture of teamwork, the Company is a proud and committed civic leader.

BlackBerry employees are passionate regarding their involvement in corporate-run community initiatives to actively participate in volunteer activities and environmentally friendly initiatives where they live and work.

Together with its team of community-minded employees, the Company believes there is great potential to make lasting local impacts.

Available Information

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In addition, the Company’s filings with the SEC may be accessed through the SEC’s website at www.sec.gov and the Company’s filings with the Canadian Securities Administrators (“CSA”) may be accessed through the CSA’s System for Electronic Data Analysis and Retrieval + (“SEDAR+”) at www.sedarplus.ca.

Except for the documents specifically incorporated by reference in this Annual Report on

Form 10-K, information contained on the SEC or CSA websites is not incorporated by reference in this Annual Report on Form 10-K and should not be considered to be a part of the Annual Report.

Except for the documents specifically incorporated by reference in this Annual Report on Form 10-K, information contained on the SEC or CSA websites is not incorporated by reference in this Annual Report on Form 10-K and should not be considered to be a part of the Annual Report.

All statements made in any of the Company’s securities filings, including all forward-looking statements or information, are made as of the date of the document in which the statement is included, and we do not assume or undertake any obligation to update any of those statements or documents unless we are required to do so by applicable law.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business