Mr. Doug Harris reports

SOL STRATEGIES FEBRUARY 2026 MONTHLY BUSINESS UPDATE

Sol Strategies Inc. has provided a comprehensive corporate update for the month of February, 2026.

Validator network: Sol Strategies' validator network grew to 33,568 unique wallets in February, up from the 31,000 wallet milestone announced on Feb. 2. Growth continues to be driven by multiple distribution channels, including device and mobile integrations, third party wallet partnerships, and the company's STKESOL liquid staking platform.

Quarterly results: On Feb. 18, 2026, Sol Strategies released its fiscal first quarter 2026 financial results for the quarter ended Dec. 31, 2025, highlighting staking and validation revenue, SOL holdings, and operational metrics for the period. Management hosted a live webcast and conference call to review financial and operational performance, provide updates on strategic initiatives, and address investor questions.

STKESOL liquid staking platform:

• Total SOL staked in STKESOL: 691,039 SOL;
• Unique STKESOL holders: 1,034.

Validator network operations:

• Assets under delegation (AuD): 3,873,652 SOL (including treasury stake and third party delegation);
• Unique wallets served: 33,568;
• Validator uptime: 99.99 per cent across all proprietary validators;
• Peak APY (annual percentage yield) delivered: 6.47 per cent (Orangefin) versus 6.09-per-cent network average;
• Net SOL earned in February from proprietary validators: approximately 1,276 SOL.

Company treasury holdings:

• Total treasury SOL (including liquid staked SOL): 518,139 SOL (approximately $60,119,668) (based on a SOL/Canadian-dollar rate of $116.03 as published by Kraken at 4:45 p.m. ET on March 3, 2026).

Management commentary: Michael Hubbard, interim chief executive officer of Sol Strategies, stated: "In February, we continued to deliver steady growth across our suite of staking products on key metrics, including assets under delegation and unique wallets. Our Q1 2026 results further validated our upward trajectory over the past year. Validator revenue grew 120 per cent on a SOL basis year over year, proving our revenue model scales independent of token price. STKESOL crossing 690,000 SOL staked and 1,000 holders in its first weeks shows we built something the market actually wants, adding another pillar to our staking business.

"What matters now is execution. We have four revenue streams operating simultaneously: treasury stake, third party delegated stake, liquid staking and institutional staking services, such as VanEck. The infrastructure thesis is playing out, and we're focused on capturing the opportunity in front of us."

Board refreshment and governance update: On Feb. 27, 2026, Sol Strategies announced a refreshed board slate to be presented at its annual general meeting on March 31, 2026, following a co-operation agreement with concerned shareholders Max Kaplan and Tony Guoga. The proposed slate includes two new independent directors, Laszlo (Les) Borsai and Dennis Logan, alongside five incumbent directors. The company also announced that Mr. Hubbard will be appointed as permanent chief executive officer and Steve Ehrlich will be appointed as chief strategy officer. The resolution reflects collaborative dialogue aimed at strengthening governance while maintaining operational focus on validator infrastructure and staking operations.

Coming annual general and special shareholder meeting: As announced on Jan. 29, 2026, the company will hold its annual general and special meeting of shareholders on March 31, 2026. Further details, including proposals for shareholder consideration and voting instructions, will be provided in the company's management information circular prior to the meeting date.

Coming investor events:

• Event: Webull virtual conference:
  • Date: March 12, 2026;
  • Location: virtual;
• Event: Roth conference:
  • Date: March 22 to 24, 2026;
  • Location: Laguna Beach, Calif.

X Spaces sessions: Over the course of February, Sol Strategies hosted three X Spaces discussions led by chief technology officer Max Kaplan, featuring leading Solana defi (decentralized finance) teams. Mr. Kaplan spoke with Manifest's co-founder about the transition from centralized exchanges to on-chain order books and institutional-grade liquidity infrastructure. He then discussed with Orca's chief executive officer the evolution of automated-market-maker design and how market structure is adapting as capital allocators increasingly utilize on-chain rails. To close the month, Mr. Kaplan explored with Squads' head of business development how treasury operations and stablecoin-driven finance infrastructure are being built natively on Solana. Summaries of these discussions are available on the company's blog. The next session features Kamino on March 5, 2026, at 1:30 p.m. ET.

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.