Mr. Johan Wattenstrom reports

DEFI TECHNOLOGIES PROVIDES CLARIFYING UPDATE ON SHARE OWNERSHIP AND DEPOSITORY IMBALANCES AND OUTLINES NEXT STEPS AND ANNOUNCES RESIGNATION OF DIRECTOR

Defi Technologies Inc. today provided additional disclosure regarding the share ownership and depository imbalances first disclosed in its Aug. 12, 2025, news release (the August NR). This news release was requested by staff of the Ontario Securities Commission in connection with a staff review and is intended to provide additional disclosure with respect to the August NR and the company's plans going forward.

The company receives feedback from shareholders on a continuing basis, including anecdotal information on potential trading irregularities. The company engaged Shareholder Intelligence Services LLC (ShareIntel) in June, 2025, to provide shareholder data, including share ownership, purchases, sales and custody by individuals, institutions, broker-dealers, clearing agents and custodians, to enable the company to better understand the trading, settlement and beneficial ownership of its common shares and communicate findings to shareholders. The retention of ShareIntel was announced by the company on June 20, 2025 (the June NR).

At the time of the August NR, the company had received three point-in-time reports dated June 23, 2025, June 30, 2025, and July 15, 2025, respectively. Such reports indicated persistent differences between share positions reported by certain broker-dealers to intermediaries of Depository Trust Company (DTC), the Canadian Depository for Securities (CDS) and Broadridge Financial Solutions.

Given the imbalances identified in the reports and continuing shareholder interest in this matter, the company issued the August NR to provide all shareholders full disclosure of the company's efforts to review trading irregularities. Since the August NR, the company has received two additional point-in-time reports, which showed continued imbalances in both the United States and Canada.

To better understand, review and rectify share ownership imbalances, the company has contacted a total of 14 broker-dealers with the highest levels of imbalances reported to intermediaries to request reconciliations and explanations for discrepancies. To date, it has received five responses, with responses primarily attributing share imbalances to settlement timing differences, inclusion of reporting to certain intermediaries but not to others, securities lending, differences in reporting inquiries to certain intermediaries and differences due to shares held in different currencies. The company continues to await responses from the remaining broker-dealers and may issue additional inquiries to further understand imbalances in the reports.

At this time, based on information received and reviewed to date, the company does not believe that share ownership imbalances had any impact on the voting results at the 2025 shareholder meeting of the company given the quantum of imbalances identified and quorum at such meeting.

Resignation of director

The company announces that effective immediately, Stefan Hascoet has resigned from the board of directors of the company. Mr. Hascoet has been a director of the company since June, 2023, and has provided invaluable guidance to the company during his tenure. The company expresses its sincere appreciation to Mr. Hascoet for his services and contributions to the company and wishes him continued success in all future endeavours.

About Defi Technologies Inc.

Defi Technologies is a financial technology company bridging the gap between traditional capital markets and decentralized finance (DeFi). As the first Nasdaq-listed digital asset manager of its kind, Defi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to 100 of the world's most innovative digital assets via regulated ETPs (exchange-traded products); Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and Defi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, Defi Technologies is building the institutional gateway to the future of finance.

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