Mr. Dan Reitzik reports

BIGG DIGITAL ASSETS PROVIDES CORPORATE UPDATE HIGHLIGHTING MATERIAL CRA REASSESSMENT, NETCOINS MILESTONES, AND STRATEGIC PROGRESS

Bigg Digital Assets Inc. has provided a comprehensive corporate update highlighting recent regulatory, operational and strategic milestones across the organization.

Key messages

• CRA issues materially reduced notice of reassessment for Netcoins' 2018 GST/HST matter, reducing total assessed amount by approximately 64 per cent;
• Netcoins surpasses $1.0-billion in cumulative transaction volume in 2025, exceeding full-year 2024 volume of $785-million;
• Netcoins joins the BitGo Go Network, enhancing institutional settlement capabilities.

GST/HST reassessment update -- material reduction strengthens balance sheet position and supports CIRO (Canadian Investment Regulatory Organization) readiness

The company is pleased to provide an important update regarding its ongoing dispute with the Canada Revenue Agency (CRA) relating to GST/HST assessed on Netcoins' 2018 cryptocurrency transactions.

As a result of the company's notice of objection filed in early 2025, CRA has issued a notice of reassessment reducing the GST/HST assessed by $3,864,681, representing a reduction of approximately 64 per cent from the originally assessed amount of $6,071,388. The revised GST/HST principal now stands at $2,206,707. The company, together with its advisers, remains in discussions with CRA's appeals division with a view to further reducing the amount assessed.

Including interest and penalties, CRA has now determined the total amount owing to be $3,228,842, a decrease of $5,643,012 from the previously assessed total of $8,871,854. This substantial reduction significantly reduces a significant contingent liability, represents a meaningful improvement to the company's financial position and strengthens the company's balance sheet at a critical time as Netcoins continues to advance its 2026 Canadian Investment Regulatory Organization (CIRO) membership application. The company believes the reassessment provides greater certainty regarding a legacy tax matter and is beneficial to the company and its shareholders.

The company intends to pursue all available remedies, including seeking further reductions to interest and penalties.

Background

On Nov. 4, 2024, CRA issued a notice of reassessment to Netcoins for GST/HST relating to the financial year ended Dec. 31, 2018, in the amount of $8,358,119. CRA's assessment was based on an asserted GST/HST obligation of $6,071,388, together with interest and penalties totalling $2,286,731. CRA took the position that Netcoins was acting as principal, rather than as an agent or intermediary on behalf of its customers or merchant partners, in the acquisition and sale of cryptocurrency.

CRA further asserted that the sale of crypto assets prior to May 18, 2019, constituted a taxable supply of intangible personal property (IPP), and assessed GST/HST based on the geographic location of Netcoins' customers.

For 2018, Netcoins reported transactional revenue of $989,173. CRA's reassessment, however, was based on transactional sales volume of $58,535,327, representing nearly 60 times the revenue actually realized by Netcoins during the period. The company disputed CRA's characterization of Netcoins' role and the resulting assessment, and exercised its appeal rights under Canadian federal tax legislation.

Netcoins was acquired by Netcoins Holdings Inc. in March, 2018. The company acquired Netcoins pursuant to an agreement dated May 24, 2019, with the acquisition completed on Aug. 1, 2019.

Netcoins joins the BitGo Go Network

Netcoins has joined Go Network, enabling free, instant settlement of United States dollars and digital currencies directly from BitGo's insured, regulated cold storage. This infrastructure is particularly valuable as Netcoins expands its work with digital asset treasury (DAT) organizations and larger institutional partners that require secure and efficient trade settlement. By leveraging Go Network, Netcoins, and its counterparties gain a safer, more scalable and operationally streamlined way to transact across global digital asset markets.

"Integrating with the Go Network reinforces our commitment to building one of the most trusted and technologically advanced trading environments in Canada," said Fraser Matthews, president of Netcoins. "The ability to settle assets instantly -- anytime, with other leading institutions -- creates meaningful operational advantages for our partners and reflects the standard of service we aim to deliver."

Netcoins adds crypto lending integrations to its Web app

Netcoins has launched a dedicated in-app crypto lending page, providing users with direct access to APX Lending's BTC and ETH loan platform.

Customers can explore borrowing options using their crypto holdings, including a built-in loan calculator that displays real-time borrowing capacity. Netcoins has also released an educational landing page outlining the lending experience and APX partnership.

Netcoins and APX Lending continue to work toward full platform integration, which remains on track for completion in the first half of 2026.

Netcoins transaction volume milestone -- $1-billion

Netcoins has surpassed $1.0-billion in cumulative transaction volume in 2025, exceeding its full-year 2024 volume of $785-million. This milestone reflects continued user growth, increased engagement and expanding institutional activity on the platform.

Bigg Digital CEO interview series continues to grow

The Bigg interview series, produced in partnership with Blockchain North, has now reached an estimated 100,000-plus audience members across executive leadership networks, corporate channels and distribution partners, including Netcoins, Bigg Digital Assets, and leading Canadian fintech and digital asset companies.

Blockchain Intelligence Group update

Blockchain Intelligence Group continues to deliver blockchain analytics, forensic investigation and risk-assessment solutions to government agencies, exchanges and enterprise customers globally. The platform enables visualization and analysis of digital asset transactions to support anti-money laundering compliance, investigative workflows and due diligence. The company remains focused on expanding access to its technology through scalable offerings while supporting the broader digital asset ecosystem's shift toward compliance and transparency.

TerraZero Technologies updates

TerraZero has continued to enhance its Intraverse technology stack throughout 2025, launching new features and hosting a wide range of virtual environments and experiences for thousands of users. TerraZero has reduced operating expenses following the successful build of its custom Intraverse platform on Unity. The company is also expanding its network of platform and enterprise partners to increase Intraverse's reach -- both in audience engagement and in recurring revenue opportunities.

The company has completed cost-cutting measures following the completed developments of its technology stack. Looking ahead, the team is prioritizing high-impact partnerships that drive commercial contracts and real-world deployments of the Intraverse. This includes the rollout of TerraZero's Render Streaming services, which enable Intraverse experiences to be hosted via AWS and delivered directly through partner or client-owned channels -- on any device, through the browser.

In parallel, TerraZero is advancing a licensing strategy for its technology stack to unlock additional monetization pathways. Together, these initiatives position the company to broaden its revenue streams and materially increase the value of the Intraverse platform heading into 2026.

About Bigg Digital Assets Inc.

Bigg Digital Assets owns, operates and invests in crypto businesses that support a compliant and safe digital asset ecosystem. Bigg's portfolio includes:

• Netcoins -- a regulated Canadian and American crypto trading platform;
• Blockchain Intelligence Group -- blockchain analytics and forensics solutions;
• TerraZero Technologies -- Immersive Media, Metaverse and Web3 development.

Bigg believes the future of crypto is secure, compliant and trusted.

Netcoins is a crypto trading platform providing secure, regulated access to a growing range of digital assets. With a commitment to transparency and compliance, Netcoins serves both retail and institutional investors, offering a trusted way to buy, sell and hold crypto in Canada.

TerraZero Technologies Inc., a leading Metaverse development group and Web3 technology company, is transforming how brands connect with audiences through next-gen immersive experiences. Leveraging the power of agentic AI, TerraZero is building dynamic bridges between the physical and virtual worlds -- where enterprise, creativity and commerce seamlessly converge. With a Metaverse-agnostic vision and a fully integrated model, TerraZero designs, builds, and operates virtual assets and solutions that unlock new revenue streams and user engagement opportunities. Through its Intraverse platform, TerraZero offers a full digital ecosystem: immersive experience creation, advertising, data analytics, and events and marketing. From gamified experiences to enterprise-level activations, TerraZero is shaping the future of how we live, work and play in the Metaverse.

Blockchain Intelligence Group is an industry leading digital asset forensics, anti-money laundering detection and cryptocurrency investigations company. At the heart of the company's operations is a deep-rooted expertise in visualizing digital assets and market related activities. This expertise is leveraged to monitor transactional data with a constant eye to assisting the company's customers with risk management, due diligence and forensic services for digital assets.

We seek Safe Harbor.