Ms. Erika Racicot reports

DRAGANFLY ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

Draganfly Inc.'s board of directors of the company has approved the consolidation of its issued and outstanding common shares on the basis of one postconsolidated common share for every 25 preconsolidated common shares. The consolidation is being implemented to ensure that the company complies with the listing requirements of Nasdaq Stock Market.

The board has set Sept. 3, 2024, as the effective date of the consolidation and expects the common shares to trade on a postconsolidated basis at market open on Sept. 3, 2024, subject to final confirmation from the Canadian Securities Exchange and Nasdaq. Upon completion of the consolidation, the Cusip number and the ISIN (international securities identification number) of the common shares will be changed to 26142Q304 and CA26142Q3044, respectively. The company's name and stock symbols will remain unchanged upon completion of the consolidation.

After giving effect to the consolidation, the common shares will be reduced from 87,166,435 to 3,486,658 common shares. No fractional common shares will be issued pursuant to the consolidation and any fractional shares that would otherwise be issued will be rounded up to the nearest whole number. The exercise price and/or conversion price and number of common shares issuable under any of the company's outstanding convertible securities will be proportionately adjusted in connection with the consolidation.

Shareholders of record as of the effective date will receive a letter of transmittal from Endeavour Trust Corp., the company's registrar and transfer agent for the common shares, providing instructions for the exchange of their common shares as soon as practicable following the effective date. Shareholders may also obtain a copy of the letter of transmittal by accessing the company's SEDAR+ profile or the company's EDGAR profile. Until surrendered, each share certificate or direct registration system statement representing preconsolidation common shares will be deemed for all purposes to represent the number of whole common shares to which the holder thereof is entitled as a result of the consolidation. Beneficial holders who hold their common shares through intermediaries (for example, a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how the consolidation will be processed should contact their intermediaries with respect to the consolidation.

About Draganfly Inc.

Draganfly is the creator of quality, cutting-edge drone solutions, software and AI (artificial intelligence) systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 24 years, Draganfly is an award-winning industry leader serving the public safety, public health, mining, agriculture, industrial inspections, security, mapping and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money and lives.

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