File: '\\swfile\EmailIn\20260417 144019 Attachment Icarus Press Release April 2026 - DRAFT v3.docx'

Icarus Capital Announces Governance Realignment and Strategic Refocus Toward Operational Growth

FOR IMMEDIATE RELEASE

Vancouver, BC - April 17, 2026 - Icarus Capital Corp. (TSX-V: ICRS) ("Icarus" or the "Company") is pleased to announce a series of governance and strategic updates designed to strengthen leadership oversight, sharpen operational focus, and support the Company's long-term sustainability and profitability.

Governance Realignment

As part of this realignment, Thomas Bell has been appointed Chairman of the Board, reflecting the Company's commitment to strong governance and experienced oversight. In addition, Howard Blank has assumed the role of Chief Executive Officer, providing continuity and public company leadership as Icarus advances its next phase of development.

Eric Lapointe has been appointed Chief Operating Officer of Icarus Capital and President of the Company's Yuk Yuk's subsidiaries, where he will focus on operational execution, venue performance, and the continued expansion of live-event initiatives.

These updates formalize a leadership structure that clearly delineates governance, executive oversight, and operational responsibilities, following the Company's transition period in 2025 after the passing of founder Garry Yuill.

Strategic Refocus on Core Operations

In conjunction with these governance changes, Icarus has elected not to renew its previously announced letter of intent to acquire Yuk Yuk's Inc.

The Company remains supportive of the Yuk Yuk's brand and franchise system and may revisit broader strategic opportunities in the future. However, Icarus believes that prioritizing the performance and expansion of its existing franchise operations, along with new theatre and touring initiatives, represents the most prudent path toward near and medium-term value creation.

"Our focus is on disciplined execution," said Howard Blank, Chief Executive Officer. "We are prioritizing the continued development of our current operations, strengthening margins, and building a stable foundation for long-term growth."

Balance Sheet Strengthening

The Company also announces that it has reached an agreement to convert $126,430.53 of outstanding indebtedness owed to the Estate of Garry Yuill into common shares of the Company at a deemed price of $0.25 per share, resulting in the issuance of 505,722 common shares.

The shares will be issued to Gary Yuill's former spouse and will be subject to a hold-period of four months and one day from the date is issuance.

This restructuring reduces outstanding liabilities and aligns the interests of key stakeholders with the long-term performance of the Company.

Looking Ahead

With strengthened governance, clearer executive roles, and a renewed focus on operational execution, Icarus Capital believes it is well positioned to pursue disciplined growth, expand its live-entertainment platform, and improve profitability across its portfolio.

Further updates on operational initiatives and 2026 programming will be provided as plans are finalized.

About Icarus Capital Corp:

Based in Surrey, BC Canada, Icarus Capital Corporation specializes in live and digital entertainment, mainly focused on stand-up comedy. The company's initial milestone included successfully securing the necessary funding to become a publicly traded company, listed as the ICRS ticker symbol on the TSX-V (Toronto Stock Exchange - Venture). The current assets include the Yuk Yuk's Calgary Comedy Club, Yuk Yuk's Surrey Comedy Club, Yuk Yuk's Media & Yuk Yuk's Western Canadian Theatre Shows. More details can be found at www.icaruscapital.ca.

FURTHER INFORMATION

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the transactions; the business plans of Icarus; use of funds; and the business and operations of the Issuer. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay and failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Icarus disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

For further information regarding the above, please contact:

Eric Lapoiinte, Chief Operating Officer, Icarus Capital Corp.

Email: eric@yukyuksmedia.com

Telephone: +1-604-600-2490

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES

File: Attachment Icarus Press Release April 2026 - DRAFT v3.pdf

Icarus Capital Announces Governance Realignment and Strategic Refocus Toward Operational Growth

FOR IMMEDIATE RELEASE

Vancouver, BC April 17, 2026 Icarus Capital Corp. (TSX-V: ICRS) ("Icarus" or the "Company") is pleased to announce a series of governance and strategic updates designed to strengthen leadership oversight, sharpen operational focus, and support the Company's long- term sustainability and profitability.

Governance Realignment

As part of this realignment, Thomas Bell has been appointed Chairman of the Board, reflecting the Company's commitment to strong governance and experienced oversight. In addition, Howard Blank has assumed the role of Chief Executive Officer, providing continuity and public company leadership as Icarus advances its next phase of development.

Eric Lapointe has been appointed Chief Operating Officer of Icarus Capital and President of the Company's Yuk Yuk's subsidiaries, where he will focus on operational execution, venue performance, and the continued expansion of live-event initiatives.

These updates formalize a leadership structure that clearly delineates governance, executive oversight, and operational responsibilities, following the Company's transition period in 2025 after the passing of founder Garry Yuill.

Strategic Refocus on Core Operations

In conjunction with these governance changes, Icarus has elected not to renew its previously announced letter of intent to acquire Yuk Yuk's Inc.

The Company remains supportive of the Yuk Yuk's brand and franchise system and may revisit broader strategic opportunities in the future. However, Icarus believes that prioritizing the performance and expansion of its existing franchise operations, along with new theatre and touring initiatives, represents the most prudent path toward near and medium-term value creation.

"Our focus is on disciplined execution," said Howard Blank, Chief Executive Officer. "We are prioritizing the continued development of our current operations, strengthening margins, and building a stable foundation for long-term growth." Balance Sheet Strengthening

The Company also announces that it has reached an agreement to convert $126,430.53 of outstanding indebtedness owed to the Estate of Garry Yuill into common shares of the Company at a deemed price of $0.25 per share, resulting in the issuance of 505,722 common shares.

The shares will be issued to Gary Yuill's former spouse and will be subject to a hold-period of four months and one day from the date is issuance.

This restructuring reduces outstanding liabilities and aligns the interests of key stakeholders with the long-term performance of the Company.

Looking Ahead

With strengthened governance, clearer executive roles, and a renewed focus on operational execution, Icarus Capital believes it is well positioned to pursue disciplined growth, expand its live-entertainment platform, and improve profitability across its portfolio.

Further updates on operational initiatives and 2026 programming will be provided as plans are finalized.

About Icarus Capital Corp: Based in Surrey, BC Canada, Icarus Capital Corporation specializes in live and digital entertainment, mainly focused on stand-up comedy. The company's initial milestone included successfully securing the necessary funding to become a publicly traded company, listed as the ICRS ticker symbol on the TSX-V (Toronto Stock Exchange - Venture). The current assets include the Yuk Yuk's Calgary Comedy Club, Yuk Yuk's Surrey Comedy Club, Yuk Yuk's Media & Yuk Yuk's Western Canadian Theatre Shows. More details can be found at www.icaruscapital.ca.

FURTHER INFORMATION

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the transactions; the business plans of Icarus; use of funds; and the business and operations of the Issuer. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay and failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Icarus disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

For further information regarding the above, please contact:

Eric Lapoiinte, Chief Operating Officer, Icarus Capital Corp. Email: eric@yukyuksmedia.com Telephone: +1-604-600-2490

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES