Mr. Andrew Kallen reports

EONX ANNOUNCES UPDATE TO LOAN FACILITY

Eonx Technologies Inc. has entered into a final amendment to its secured loan facility with its chief executive director, Andrew Kallen, pursuant to which the loan facility has reverted to a standard drawn-down structure, and the redraw and credit balance interest features were terminated. This amendment reflects the company's transition to positive operating cash flow and provides that the loan will continue its original repayment basis, with interest calculated and paid in the ordinary course at the agreed contractual rate.

Under the credit balance interest arrangement, surplus credit balances accrue interest at a rate of 4 per cent, payable by the lender to the company. This redraw facility operates at call by the company, of which all balances have subsequently reconciled in full to the benefit of the company, together with aggregate interest earned totalling $113,495 (Australian).

The loan facility was originally entered into on Jan. 6, 2023, between the lender and Eonx Services U.K. Ltd., a wholly owned subsidiary of the company, with the company acting as guarantor. The loan was established for a principal amount of $7.3-million (Australian) (approximately $6.7-million (Canadian)), bears interest at 12 per cent per annum calculated daily, and includes a $100,000 establishment fee and a $2,000 monthly line fee. Interest is payable monthly in arrears. The loan is secured by a general charge over all of the company's present and after-acquired assets, and contains customary default, enforcement, indemnity and guarantee provisions. Proceeds of the loan were used to refinance an existing short-term bank facility and an APN Ventures loan, and to provide working capital for international expansion

The loan includes a conversion feature, allowing the lender, at its sole discretion and at any time prior to maturity, to convert all or part of the outstanding principal and accrued interest into common shares of the company at a conversion price of 10 Canadian cents per share, subject to applicable listing rules and ownership limitations.

On April 25, 2023, the parties amended the loan to permit it to operate as a redraw facility, allowing principal repayments and subsequent redraws during the term, with interest calculated on the outstanding balance. On Oct. 10, 2024, this redraw feature was further amended to provide that, where the loan resulted in a credit balance, interest would accrue to the company's benefit at a rate of 4 per cent per annum.

On June 26, 2025, the company and the lender agreed to extend the maturity date of the loan by 24 months, moving the repayment date from Jan. 6, 2026, to Jan. 6, 2028, with all other terms and conditions remaining unchanged.

Following the execution of the final amendment on Dec. 18, 2025, the redraw functionality and credit balance interest provisions ceased to apply, and the loan now continues as a conventional secured loan facility under its original economic and security terms, as extended to Jan. 6, 2028.

The lender is an officer of the company and, as a result, the amendment constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The amendment is exempt from the valuation requirement and the minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(b) and 5.7(a) of MI 61-101, in that the company is not listed on a specific market and the fair market value derived from the amendment does not exceed 25 per cent of the company's market capitalization.

A copy of the agreement evidencing the loan and its subsequent amendments is available under the profile for the company on SEDAR+.

About Eonx Technologies Inc.

Eonx is a financial technology company powering the next generation of payments and loyalty platforms that reward business and customers when engaging and transacting.

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