Mr. Michael Hubbard reports

SOL STRATEGIES NOVEMBER 2025 MONTHLY BUSINESS UPDATE

SOL Global Investments Corp. has provided a comprehensive corporate update for the month of November, 2025.

November, 2025, corporate highlights

Sol Strategies selected as staking provider for VanEck Solana ETF: On Nov. 17, the company announced that it has been selected as a staking provider for the VanEck Solana ETF. One of the most high-profile Solana-based exchange-traded products, the ETF (exchange-traded fund) is expected to serve institutional and retail investors globally. The ETF will utilize Sol Strategies' Orangefin validator, which operates with an institutional-grade security and compliance framework, including holding ISO 27001 and SOC 1/SOC 2 Type 2 certifications. The company believes this mandate represents a validation of its operational excellence and reinforces its strategic positioning within the Solana ecosystem as a premier institutional infrastructure provider.

Industry engagement: The company participated in the Cantor Crypto Conference and Clear Street Disruptive Technology Conference in November, engaging with potential institutional and strategic partners.

Debt repayment and restructuring through defi (decentralized finance): In October, the company repaid $3-million of its credit facility with former chairman, Tony Guoga. In November, the company restructured an additional $4-million of this credit facility through a defi loan secured by jitoSOL through Kamino Finance, reducing borrowing costs while continuing to earn staking rewards on the collateral. These transactions reflect the company's continuing balance sheet management and utilization of Solana-based financial infrastructure.

Treasury and validator operations update (as of Nov. 30, 2025):

• SOL (including liquid staked SOL): 526,637 SOL (approximately $103,157,655.56):
  • SOL holdings: 463,888 SOL;
  • jitoSOL holdings: 48,080 jitoSOL (approximately 59,900 SOL);
  • laineSOL holdings: 2,226 laineSOL (approximately 2,850 SOL);
• SOL earned in October from proprietary validators: approximately 621 SOL;
• Assets under delegation (AuD): 3,144,835 SOL;
• Unique wallets served: 22,727;
• Validator uptime spotlight: 100-per-cent uptime across all proprietary validators;
• Peak APY (annual percentage yield) delivered: 6.72 per cent (Orangefin) versus 6.34-per-cent network average.

Management commentary

Michael Hubbard, interim chief executive officer of Sol Strategies, stated: "November represented a significant validation of our institutional infrastructure capabilities. Our selection as a staking provider for the VanEck Solana ETF demonstrates operational excellence and compliance rigour we've built across our validator network. This mandate reinforces our positioning as a trusted infrastructure partner for institutional participants in the Solana ecosystem."

Institutional and ecosystem development

VanEck Solana ETF staking mandate: Sol Strategies' Orangefin validator serves as the staking provider to the VanEck Solana ETF, further solidifying the company's position as a dependable, institutional-grade staking partner for financial institutions.

Canary Marinade Solana ETF participation: Sol Strategies participates in Marinade Select, a curated program of vetted validators which acts as the staking provider for the Canary Marinade Solana ETF.

Coming investor events

Event: WeBull digital asset treasury webinar:

• Date: Wednesday, Dec. 17, 2025;
• Location: virtual;
• Attendees: Mr. Hubbard;
• Registration: on the WeBull website (must sign in to your WeBull account or create an account to join).

Event: ICR Conference 2026:

• Dates: Jan. 12 to Jan. 14, 2026;
• Location: JW Marriott and Ritz-Carlton, Orlando, Fla.

About Sol Strategies Inc.

Sol Strategies is a Canadian investment company that operates at the forefront of blockchain innovation. Specializing in the Solana ecosystem, the company provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications.

We seek Safe Harbor.