Mr. Cameron Chell reports

DRAGANFLY ANNOUNCES CLOSING OF US$13.75 MILLION PUBLIC OFFERING

Draganfly Inc. has closed its previously announced public offering of 5.5 million units, with each unit consisting of one common share and one warrant to purchase one common share. Each unit was sold at a public offering price of $2.50 (U.S.), for gross proceeds of approximately $13.75-million (U.S.), before deducting placement agent discounts and offering expenses. The warrants have an exercise price of $5.0768 (Canadian) (or $3.71 (U.S.)) per share, are exercisable immediately and will expire five years following the date of issuance.

Maxim Group LLC acted as sole placement agent 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 was 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 offered and sold the securities in the United States only. No securities were offered or sold to Canadian purchasers.

A final prospectus supplement and accompanying base shelf prospectus relating to the offering and describing the terms thereof has been filed with the applicable securities commissions in the Canadian provinces of British Columbia, Saskatchewan and Ontario, and with the SEC in the United States, and is available for free by visiting the company's profiles on SEDAR+ or the SEC's website, as applicable. Copies of the final prospectus supplements and accompanying base shelf prospectus relating to the offering may be obtained by contacting Maxim Group LLC, 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.

About Draganfly Inc.

Draganfly is a pioneer in drone solutions, AI-driven (artificial intelligence) software and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping and surveying. The company is committed to delivering efficient, reliable and industry-leading technology that helps organizations save time, money and lives.

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