Ms. Beth Shaw reports

KATIPULT RECEIVES DEMAND LETTER AND NOTICE OF ENFORCEMENT OF SECURITY FROM SENIOR SECURED LENDERS

Katipult Technology Corp. has received a demand letter from its senior secured lenders, which demand full payment of the company's outstanding debt pursuant to the general security agreement dated July 18, 2024, and the amended and restated secured convertible debentures dated July 18, 2024, in the total amount of $3-million.

In addition, the lenders have each provided the company with a notice of intention to enforce security (the BIA notices) pursuant to Subsection 244(1) of the Bankruptcy and Insolvency Act (Canada) (the BIA). The company has engaged in discussions with its creditors to evaluate potential solutions to enable the company to carry on in some form in the future; however, there can be no assurances it will be able to successfully do so. Katipult intends to pursue all available options afforded by law to continue to support its customer base. KSV Restructuring Inc. was appointed to act as receiver Feb. 11, 2025, at the Court of King's Bench of Alberta.

Trading on the TSX Venture Exchange has been halted and the company anticipates that trading on the TSX-V will be suspended and that Katipult will ultimately be delisted.

About Katipult Technology Corp.

Katipult is a provider of industry-leading and award-winning software infrastructure for powering the exchange of capital in equity and debt markets. The company's cloud-based platform and solutions digitize investment workflow by eliminating transaction redundancy, strengthening compliance, delighting investors and accelerating deal flow. Katipult provides unparalleled adaptability for regulatory compliance, asset structure, business model and localization requirements.

We seek Safe Harbor.