Mr. Brent Ashton reports

COVALON TO HOLD ANNUAL MEETING OF SHAREHOLDERS ON WEDNESDAY, MARCH 25, 2026

Covalon Technologies Ltd.'s annual meeting of shareholders of the company will be held on Wednesday, March 25, 2026, at 2 p.m. Eastern Time in a virtual-only format where shareholders may attend and participate in the meeting via live webcast. The meeting will include a presentation from Covalon's chief executive officer, Brent Ashton, with a question-and-answer session to follow.

Registered shareholders and duly appointed proxyholders will be able to attend, participate and vote at the meeting on-line, meeting ID being 1871, using password covalon2026 (case sensitive).

If you are a registered shareholder and you want to appoint someone else (other than the management nominees) to vote on-line at the meeting, you must first submit your proxy indicating who you are appointing. You or your appointee must then register with TSX Trust in advance of the meeting by e-mailing tsxtrustproxyvoting@tmx.com the "request for control number" form, which can be found on the TSX Trust website.

If you are a non-registered shareholder (shareholder who holds their shares through a broker, investment dealer, bank, trust company, custodian, nominee or other intermediary) and want to vote online at the meeting, you must appoint yourself as proxyholder and register with TSX Trust Company in advance of the meeting by e-mailing tsxtrustproxyvoting@tmx.com the request for control number form, which can be found on the TSX Trust website. Registering your proxyholder is an additional step to be completed after you have submitted your form of proxy or voting instruction form.

Non-registered shareholders who have not duly appointed themselves as proxyholder will not be able to vote at the meeting but will be able to attend the meeting as guests.

Guests are invited to attend the meeting by navigating to the TSX Trust website, meeting ID being 1871, and clicking on "I am a Guest."

Copies of Covalon's management information circular, financial statements, and MD&A (management's discussion and analysis) can be obtained on SEDAR+, on Covalon's website or on the TSX Trust website.

About Covalon Technologies Ltd.

Covalon is a leading medtech (medical technology) company dedicated to improving patient outcomes through innovative and compassionate medical products and technologies. The company's expertise spans advanced wound care, vascular access and surgical consumables, with a strong focus on enhancing healing, reducing health-care-associated infections (HAIs) and protecting skin integrity. The company's solutions are designed for patients and made for care providers. The company is listed on the TSX Venture Exchange (COV) and trades on the OTCQX Market (CVALF).

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