Ms. Natalie Hirsch reports

ANALYTIXINSIGHT INC. PROVIDES UPDATE TO REVERSE TAKEOVER TRANSACTION WITH POLYMATH RESEARCH INC.

AnalytixInsight Inc. has further amended and restated the amalgamation agreement originally entered into on March 3, 2025, as amended and restated on May 13, 2025, among AnalytixInsight, Polymath Research Inc. and 16737803 Canada Inc., a wholly owned subsidiary of AnalytixInsight (Subco). AnalytixInsight also announces that Polymath has closed its previously announced asset purchase agreement among Polymath, Polymesh association (Polymesh Switzerland) and Polymesh Labs Ltd., a wholly owned Cayman Islands subsidiary of Polymath. AnalytixInsight also provides an update on the reverse takeover transaction with Polymath announced March 4, 2025, including the brokered concurrent financing for subscription receipts (defined below) on a commercially reasonable efforts private placement basis. AnalytixInsight announces that, in light of the signed second amended amalgamation agreement, it has elected to cancel its previously scheduled annual general and special meeting (the AGSM) set for Aug. 25, 2025. The AGSM has been rescheduled and will now take place on Sept. 29, 2025. Further details regarding the Sept. 29, 2025, AGSM, will be provided in due course.

Amended and restated amalgamation agreement

On June 27, 2025, AnalytixInsight, Polymath and Subco entered into the second amended amalgamation agreement, pursuant to which: (i) common share purchase warrants of Polymath issued pursuant to the concurrent financing will, following the completion of the transaction, cease to represent a right to acquire one common share of Polymath and will become a right to acquire 6.25427 (the exchange ratio) common shares of AnalytixInsight; (ii) new convertible securities of Polymath, if any, issued between now and the completion of the transaction with the consent of AnalytixInsight shall be exchanged for 6.25427 equivalent convertible securities of the resulting issuer with such adjustments to any exercise price or conversion price or other term as appropriate by the exchange ratio and such convertible securities of Polymath, if any, shall be cancelled. All other provisions of the prior amalgamation agreement continue in full force and effect.

In addition to shareholder approval of AnalytixInsight and Polymath, the completion of the transaction is subject to a number of conditions including, but not limited to, closing conditions customary to transactions of the nature of the transaction, the approval of all regulatory bodies having jurisdiction in connection with the transaction, and acceptance by the TSX-V. The transaction and related transactions are subject to the satisfaction or, where permitted, waiver of certain additional conditions precedent, including, but not limited to the completion of the concurrent financing. There is no guarantee that these conditions will be met at all or before the outside date of Oct. 31, 2025.

Acquisition of Polymesh assets by Polymath

Analytix announces that, pursuant to the asset purchase agreement, Polymath has completed its acquisition of certain assets and assumed certain liabilities of Polymesh Switzerland, including POLYX tokens held by Polymesh Switzerland.

The Polymesh Labs acquisition will enable Polymesh Labs' principal business to include the oversight of the Polymesh blockchain, including POLYX tokens associated with the Polymesh blockchain, and the development of TokenStudio, the Polymesh wallet, other software application and further investment in developing the Polymesh ecosystem. The Polymesh blockchain is a Layer-1 public-permissioned blockchain using Polkadot's modular tool substrate framework that is designed for tokenizing real-world assets. For more information regarding the Polymesh Labs acquisition, please see the company's news release dated May 13, 2025.

Key business developments: Polymath and Polymesh Labs

• U.S. broker-dealer partnership: Polymath has signed a licensing agreement with a Financial Industry Regulatory Authority-registered broker-dealer in the United States to deploy its SaaS (software-as-a-service) capital platform for the issuance of security tokens on the Polymesh blockchain.
• Strategic alliance with Pando RWA: Polymath Research and Pando RWA have entered into a strategic partnership aimed at bridging traditional finance with next-generation blockchain infrastructure.
• BitGo selects Polymesh for RWA strategy: Following its acquisition of Brassica, BitGo has chosen Polymesh as its first Layer-1 blockchain partner to support its real-world asset (RWA) tokenization initiatives.
• Zodia Custody joins Polymesh ecosystem: Zodia Custody has integrated with Polymesh to offer institutional-grade custody solutions for tokens issued on the Polymesh blockchain.
• GK8 by Galaxy Supports POLYX Staking: GK8, a Galaxy company, has partnered with Polymesh to provide secure POLYX staking services, with full tokenization capabilities expected to follow later this year.

Concurrent financing

Analytix wishes to clarify certain disclosure regarding the concurrent financing in its news release dated May 13, 2025. It was previously announced that, pursuant to the concurrent financing, each Polymath subscription receipt will be automatically converted upon the satisfaction of the release conditions (as defined below), immediately before the completion of the transaction into a unit of Polymath without further payment or action on the part of the holder. It was previously disclosed that each unit shall consist of one underlying common share of Polymath and one-half of one common share purchase warrant.

Analytix wishes to clarify that each unit will consist of 0.15989 Polymath share and 0.07995 warrant. Each whole warrant shall entitle the holder thereof to acquire one Polymath share at a price of $7.8178 for a period of 60 months following the issue date of such warrant, subject to adjustment in certain events. Upon completion of the transaction, each issued and outstanding Polymath share will be exchanged for 6.25427 common shares of the resulting issuer and each outstanding warrant will be exchanged for 6.25427 warrants of the resulting issuer. As a result of the foregoing exchanges, on a posttransaction basis, each subscriber will receive one resulting issuer share and one-half of one resulting issuer warrant for each subscription receipt purchased. Each resulting issuer warrant shall entitle the holder thereof to acquire one resulting issuer share at a price of $1.25 for a period of 60 months following the issue date of such resulting issuer warrant, subject to adjustment in certain events.

The release conditions include (i) written confirmation from each of Polymath and AnalytixInsight that all conditions to the completion of the transaction (including the underlying share exchange) have been satisfied or, with the consent of the agents, waived, other than the release of the escrowed funds; (ii) the receipt of all regulatory, shareholder and third party approvals, if any, required in connection with the transaction; (iii) Polymath and AnalytixInsight shall not be in breach or default of any of its covenants or obligations under the subscription receipt agreement or the agency agreement, except (in the case of the agency agreement only) for those breaches or defaults that have been waived by the agents and all conditions set out in the agency agreement and subscription receipt agreement shall have been fulfilled, which shall all be confirmed to be true in a certificate of a senior officer of Polymath, to the satisfaction of the agents; and (iv) the delivery of the release certificate to the escrow agent in accordance with the terms of the subscription receipt agreement.

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance and disinterested AnalytixInsight shareholder approval. Where applicable, the transaction cannot close until the required AnalytixInsight shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of AnalytixInsight should be considered highly speculative.

We seek Safe Harbor.