Mr. Michael Hubbard reports

SOL STRATEGIES APPOINTS JON MATONIS AS CHAIRMAN OF THE BOARD

On May 11, 2026, the board of directors of Sol Strategies Inc. appointed Jon Matonis as chairman of the board of directors, effective immediately. Mr. Matonis subsequently tendered his resignation as chief economist, effective May 12, 2026. Luis Berruga continues to serve as a director on the board.

Mr. Matonis is a founding director of the Bitcoin Foundation, and has spent more than two decades in financial cryptography, digital currency and monetary policy. A long-time advocate for financial privacy and the technology that enables it, he has held executive roles at VISA and VeriSign, and has advised a range of blockchain ventures across multiple market cycles. He holds a bachelor's degree in economics from George Washington University.

Mr. Matonis has been with the company since 2018 and served as director since May, 2020. His appointment as chairman reflects the company's broader strategic direction, as demonstrated by its recently announced acquisition of Darklake's Zyga zero-knowledge proof system and its announced definitive agreement to acquire HoudiniSwap.

"I want to start by thanking Luis for his service as chairman of the board. During his tenure, he oversaw several key transactions and helped strengthen the company's governance," said Michael Hubbard, chief executive officer of Sol Strategies. "With our acquisition of Darklake and our agreement to acquire HoudiniSwap, we're deepening our position as an operating business. Jon's understanding of this industry and his life-long commitment to privacy-first technologies make him exactly the right person for this role."

"I've spent my career making the case that financial privacy matters. Few companies in crypto are actually building toward it in a serious way: Sol Strategies is one of them. I've watched this company grow from the inside and I believe the most interesting work is still ahead," said Mr. Matonis.

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.

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