Mr. Mehdi Azodi reports

BELGRAVIA PROVIDES LITIGATION UPDATE

Belgravia Hartford Capital Inc. has provided the following update regarding the Ochoa royalty interest and recent court proceedings involving its subsidiary, Belgravia Hartford Gold Assets Corp.

Litigation update

As previously disclosed, Belgravia Hartford Gold Assets has been engaged in litigation in the U.S. District Court for the District of New Mexico against PolyNatura Corp., captioned Belgravia Hartford Gold Assets Corp. v. PolyNatura Corp., case No. 2: 21-cv-00918-MIS-JHR, concerning PolyNatura's obligations under the parties' royalty agreement. Over the course of the proceedings, the court granted summary judgment in PolyNatura's favour on three of the four claims asserted. The remaining claim -- relating to PolyNatura's obligations under the books-and-records inspection provision of the royalty agreement -- proceeded toward trial.

On March 16, 2026, the court issued two notable orders. First, PolyNatura was ordered to deposit $9,046.05 with the court clerk pursuant to Fed. R. Civ. P. 67, representing the damages amount related to the books-and-records inspection established in the court's prior ruling on PolyNatura's motion in Limine. Second, the court sanctioned PolyNatura's defence counsel $2,000 under Fed. R. Civ. P. 16(f) for failing to comply with pretrial scheduling deadlines without justification. Counsel for the plaintiff was not sanctioned.

Following the deposit of funds, the court entered a final judgment on March 19, 2026, dismissing the remaining claim as moot. All postjudgment options, including appellate remedies, are under evaluation.

Continuing enforcement and additional legal remedies

The PolyNatura litigation addressed conduct through 2021. Since the filing of the original lawsuit, the company has continued to monitor PolyNatura's compliance with its contractual obligations under the royalty agreement, including its covenant to use commercially reasonable efforts to realize revenues from the Ochoa water and mining assets. Additional enforcement actions related to PolyNatura's post-2021 conduct are actively being evaluated by the company's legal team, and further updates to shareholders are anticipated in the near term.

Ochoa royalty interest remains fully intact

The PolyNatura litigation does not affect the royalty interest in the Ochoa polyhalite project. The rights granted under the royalty agreement remain in full force and effect, including a 75-per-cent royalty on water revenue and a 1-per-cent royalty on mining revenue from the Ochoa asset, up to a combined cap of $12.2-million (U.S.). PolyNatura itself has publicly confirmed that Belgravia remains a royalty holder and that its continuing development efforts "will ultimately benefit Belgravia as well."

The Ochoa project is the only naturally occurring large-scale polyhalite deposit in the Americas, with published resources of approximately 630 million tons at over 82-per-cent grade and a mine life exceeding 50 years. The project's deepwater wells in the Permian basin region continue to appreciate in strategic value, particularly following New Mexico's enactment of the Strategic Water Supply Act in April, 2025, and continued growth in Permian basin water demand.

Response to PolyNatura press release

The company is aware of a press release issued by PolyNatura on March 19, 2026, containing a number of characterizations that the company considers misleading and incomplete. Among other things, PolyNatura omits that the court sanctioned its own defence counsel for failing to comply with pretrial deadlines. PolyNatura also claims that all litigation claims were resolved in PolyNatura's favour. The final claim was not adjudicated on the merits it was dismissed as moot only after PolyNatura deposited the full damages amount with the court, in effect paying to resolve the claim rather than defend it at trial.

PolyNatura's chairman, Peter Yu, devoted a significant portion of his public statement to the claim that Belgravia retained 10 law firms. That is false. Four law firms have represented Belgravia in the PolyNatura litigation. That Mr. Yu would make so easily disproved a misstatement in a public press release while omitting the court's sanctions against his own counsel speaks to the reliability of PolyNatura's other characterizations. Shareholders are encouraged to review the public court record rather than rely on PolyNatura's self-serving account. The more salient fact that PolyNatura's press release fails to address is that, nearly nine years after execution of the royalty agreement, PolyNatura has yet to generate a single dollar in revenue from either the water wells or the mining asset.

PolyNatura has indicated it intends to seek recovery of attorneys' fees. Prevailing party status and entitlement to fees remain subject to determination by the court based on the totality of the proceedings. Any such application will be addressed through the appropriate legal channels.

Corporate and financial update

The company continues to hold bitcoin and related bitcoin ETF, BITX, in treasury and maintains its focus on value creation through its royalty portfolio and the broader bitcoin ecosystem.

Mehdi Azodi, president and chief executive officer, stated: "The Ochoa royalty is a valuable, long-duration asset tied to one of the most significant polyhalite deposits in the world. We are fully focused on enforcement of our contractual rights. Our legal team continues to evaluate all available remedies, and we expect to have more to say on that front shortly. We remain committed to maximizing the value of this royalty for our shareholders."

About Belgravia Hartford Capital Inc.

Belgravia Hartford is an investment issuer, listed for trading on the Canadian Securities Exchange and the OTCQB, focused on the technology and finance sectors of the bitcoin ecosystem. The company's focus, as set out in its 2018 investment policy, specifies cryptocurrencies, artificial intelligence, media and digital streaming opportunities. Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. Belgravia and its investments are considered high-risk holdings, and it may expose shareholders to significant volatility and losses.

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