Mr. Fred Vandenberg reports

DESTINY MEDIA TECHNOLOGIES PROVIDES CORPORATE UPDATE ON VARIOUS MATTERS

Destiny Media Technologies Inc. today provided a corporate update.

Stock option plan

In 2022, the company amended the 2015 stock option plan (the 2022 plan) which was ratified by the company's shareholders at the 2022 annual general meeting. Details of the plan were disclosed on page 10 of the company's filings with the Securities and Exchange Commission and in Canada. The 2022 plan provided for the issuance of up to one million stock options, all granted at prices above market value.

Litigation update

There is no material new information regarding the legal claim filed in 2017 by the company's former chief executive officer. The claim, which alleges conspiracy, breach of contract, wrongful dismissal, defamation, and seeks aggravated and punitive damages, was previously disclosed on-line. The matter was heard in the Supreme Court of British Columbia in December, 2024, and the company is currently awaiting a decision. The company continues to remain confident in a favourable outcome.

Cease trade order (CTO)

On Monday, May 5, 2025, the company received a failure-to-file cease trade order (FFCTO) from the British Columbia Securities Commission (BCSC), as the company's second quarter financial results had been filed with the SEC but not yet published on SEDAR+. The issue was promptly corrected, and the BCSC lifted the FFCTO on May 7, 2025. Trading of the company's shares will be reinstated soon.

About Destiny Media Technologies Inc.

Destiny Media Technologies provides software-as-a-service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE, is the world's leading provider of music promotional delivery services, dedicated to empowering artists and industry professionals with innovative solutions for success in the digital age.