Mr. Cale Moodie reports

NEPTUNE UPDATES SHAREHOLDERS IN CONNECTION WITH ANNOUNCED SPACEX ACQUISITION OF XAI

Neptune Digital Assets Corp. has provided a corporate update following the announced acquisition of xAI by SpaceX.

Neptune recently completed its strategic investment in xAI, acquiring 3,601 shares to obtain early exposure to the Grok LLM and the Colossus supercomputer cluster. Under the expected terms of the xAI acquisition by SpaceX, xAI shareholders are expected to receive 0.1433 SpaceX share for every share of xAI held. This conversion would add approximately 516 additional shares to Neptune's previous holdings of SpaceX shares, bringing the company's total anticipated position to approximately 32,640 SpaceX shares. Neptune's investments in xAI and SpaceX were completed through transactions with arm's-length third parties.

"The announced acquisition of xAI by SpaceX represents the emergence of a vertically integrated solution that brings together orbital launch capabilities with next-generation artificial intelligence," said Cale Moodie, chief executive officer of Neptune Digital Assets. "The strategic potential of this combination spans future space-based compute infrastructure, global low-latency AI enabled by satellite networks, and powerful data and intelligence feedback loops. For Neptune shareholders, this transaction reinforces our long-term thesis around owning exposure to category-defining platforms and frontier technology at the intersection of AI, compute, blockchain and space infrastructure."

Neptune's portfolio reflects a concentrated and powerful exposure to blockchain and frontier technology:

• SpaceX equity: expected consolidated holdings of approximately 32,640-plus following the proposed conversion;
• Bitcoin treasury: 418 BTC;
• Staking portfolio: 36,500 Solana and positions in ATOM, ETH and other staking tokens.

The company believes that the anticipated conversion of xAI shares into SpaceX equity is a milestone for potential liquidity and valuation, aligning with Neptune's strategy of identifying and holding category-defining assets at the intersection of artificial intelligence, space and blockchain.

About Neptune Digital Assets Corp.

Neptune Digital is one of the first publicly traded blockchain companies in Canada, and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem, including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance and other cutting-edge technology. Its unwavering commitment to innovation and strategic growth enables it to continually explore new opportunities and maximize value for its shareholders.

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