Ms. Arian Hopkins reports

DRAGANFLY ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON SHARES & WARRANTS

Draganfly Inc. has commenced an underwritten public offering in the United States. The offering consists of units of common shares (or prefinanced warrants in lieu thereof) and warrants to purchase common shares and is subject to market conditions.

Maxim Group LLC is acting as sole bookrunning manager for the offering.

Draganfly currently intends to use the net proceeds from the offering for general corporate purposes, including to finance its capabilities to meet demand for its new products, including growth initiatives and/or for working capital requirements, including the continuing development and marketing of the company's core products, potential acquisitions, and research and development.

The offering is subject to customary closing conditions including the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange and notification to the Nasdaq Stock Market. The public offering is subject to market conditions, and there can be no assurance as to whether or when the public offering may be completed, or the actual size or terms of the public offering.

The offering is being made pursuant to an effective shelf registration statement on Form F-10, as amended (file No. 333-271498), previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (SEC) on July 5, 2023, and the company's Canadian short form base shelf prospectus dated June 30, 2023. Draganfly will offer and sell the securities in the United States only. No securities will be offered or sold to Canadian purchasers.

A preliminary prospectus supplement and accompanying base shelf prospectus relating to the offering and describing the terms thereof will be filed with the applicable securities commissions in Canada and with the SEC in the United States and will be available for free by visiting the company's profiles on the SEDAR+ website maintained by the Canadian Securities Administrators or the SEC's website, as applicable. Copies of the prospectus supplement and accompanying base shelf prospectus relating to the offering may be obtained, when available, by contacting Maxim Group at 300 Park Ave., 16th floor, New York, N.Y., 10022, attention: syndicate department, or by telephone at 212-895-3745 or by e-mail at syndicate@maximgrp.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the securities regulatory authorities in each of the provinces of Canada and the SEC.

About Draganfly Inc.

Draganfly is the creator of drone solutions, software and artificial intelligence systems.

We seek Safe Harbor.