Mr. Michael Hubbard reports

SOL STRATEGIES ANNOUNCES PRELIMINARY UNAUDITED FISCAL FOURTH QUARTER RESULTS INCLUDING REVENUE OF APPROX. $4.0 MILLION CAD

Sol Strategies Inc. has released preliminary, unaudited select financial and operating results for its fiscal fourth quarter ended Sept. 30, 2026. The fiscal fourth quarter represents the first full quarter of operations for Houdini Swap, a non-custodial, privacy-focused cross-chain swap aggregator, as a wholly owned company subsidiary. The company completed the acquisition of Houdini on June 1, 2026.

During the quarter, Houdini generated approximately $3.4-million in swap aggregator fees and approximately $1.9-million in earnings before interest, taxes, depreciation and amortization (a non-international financial reporting standard measure), representing an EBITDA margin of approximately 56 per cent on total comprehensive income of approximately $1.0-million (which includes taxes and amortization), from approximately $326-million (approximately $230-million (U.S.)) in transaction volume. This quarterly performance reflects continued growth in monthly swap volume, which has increased 37 per cent from June to September, partly through contributions from new distribution partnerships.

Michael Hubbard, chief executive officer of Sol Strategies, said: "Our fiscal fourth quarter results demonstrate the value of our broader, more diversified business with the addition of Houdini, which delivered an impressive 56-per-cent EBITDA margin in its first full quarter under our ownership on the back of strong growth in monthly volumes. Together with our Solana treasury and validator operations, we have a distinct operating model compared to other blockchain technology companies. Our business development efforts are beginning to show value as we add new distribution partners for Houdini while further refining the products and user experience. I am excited for fiscal 2027 and believe we are well positioned to continue building on this momentum."

For the fiscal fourth quarter ended Sept. 30, 2026, the company anticipates:

• Total revenue (swap aggregator fees, validation service income and staking rewards) of approximately $4.0-million, comprised of:
  • Houdini revenue swap aggregator fees of approximately $3.4-million;
  • Staking rewards of approximately $410,000;
  • Validation service income of approximately $215,000;
• Houdini transaction volume of approximately $326-million (approximately $230-million (U.S.));
• Houdini total comprehensive income of approximately $1.0-million, which includes taxes and amortization;
• Houdini EBITDA of approximately $1.9-million, representing an EBITDA margin of approximately 56 per cent (a non-IFRS measure);
• Total treasury holdings of approximately 465,000 Sol (approximately $77.9-million) as of Sept. 30, 2026;
• Assets under delegation of approximately 3.56 million Sol (approximately $596-million) as of Sept. 30, 2026.

The company expects to file its audited annual consolidated financial statements and management's discussion and analysis for the fiscal year ended Sept. 30, 2026, on or before Dec. 29, 2026.

The financial results in this press release are preliminary and unaudited, and are subject to change. Audited results may differ materially.

About Sol Strategies Inc.

Sol Strategies is a digital asset infrastructure company focused on high performance blockchain and privacy technologies. Headquartered in Toronto, the company operates staking infrastructure and privacy technology on public blockchain networks, serving a broad range of participants from individual Sol holders to institutional clients.

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