Mr. Shane Madden reports

HYDREIGHT TECHNOLOGIES INC. ANNOUNCES STRATEGIC INVESTMENT IN INSU THERAPEUTICS TO ADVANCE NEEDLE-FREE PEPTIDE DELIVERY TECHNOLOGY

Hydreight Technologies Inc. has made a strategic investment in Insu Therapeutics Inc., a biopharmaceutical company advancing a patent-pending buccal drug-delivery platform designed to enable the needle-free administration of complex peptide therapeutics -- including insulin and GLP-1 receptor agonists -- through targeted absorption across the buccal mucosa (inner cheek), bypassing traditional gastrointestinal degradation pathways.

Insu has completed phase I in-vitro release and pharmacokinetic studies evaluating its buccal semaglutide formulation relative to injectable formats and has received Research Ethics Board approval from the University of British Columbia to initiate phase II studies assessing pharmacokinetics and systemic blood levels in animal models -- a required step prior to human clinical studies.

Hydreight believes that delivery-layer innovation capable of achieving pharmacokinetic exposure approaching injectable formats without needles -- if validated through clinical studies -- would represent a meaningful advancement in peptide therapeutics, particularly in markets where patient adherence remains constrained by injection-based delivery.

Transaction details

On March 4, 2026, the company entered into a subscription agreement to acquire 800,000 units of Insu at a price of 37.5 cents per unit, for an aggregate investment of $300,000.

Each unit comprise one common share of Insu and one common share purchase warrant. Each warrant entitles the holder to acquire one additional Insu share at an exercise price of $1.00 per share for a period of two years from issuance.

The aggregate consideration for the units will be satisfied 50 per cent in cash ($150,000) and 50 per cent in common shares of Hydreight (37,037 common shares issued at a deemed price of $4.05 per share).

The transaction remains subject to approval of the TSX Venture Exchange.

Why delivery matters in the peptide market

According to third party industry research, the global peptide therapeutics market exceeds $40-billion (U.S.) and is projected to grow at high-single-digit to low-double-digit rates over the coming decade.

Peptide-based therapies -- including GLP-1 receptor agonists such as semaglutide -- are rapidly expanding across metabolic health, obesity, diabetes, hormonal health, longevity medicine and other chronic conditions. GLP-1 therapies in particular have experienced significant global adoption in recent years, contributing to strong demand for scalable and patient-friendly delivery formats.

Despite strong therapeutic demand, most peptide therapies remain injection based due to the difficulty of delivering large peptide molecules orally without degradation or loss of efficacy. As innovation accelerates, delivery has emerged as one of the primary bottlenecks in peptide therapeutics.

Insu Therapeutics is a biopharmaceutical company pioneering a patented buccal drug-delivery platform designed to enable the non-injectable administration of complex peptide therapeutics. The platform is intended to address key limitations associated with injectable peptide treatments by potentially improving delivery stability, dosing precision, patient experience and adherence.

Insu's proprietary mucoadhesive, unidirectional buccal tablet platform is engineered to:

• Absorb peptides directly through the buccal mucosa (inner cheek);
• Bypass gastrointestinal degradation;
• Avoid first-pass liver metabolism;
• Protect active pharmaceutical ingredients from salivary loss.

Unlike conventional oral pills, buccal delivery represents a distinct biological pathway focused on preserving peptide integrity while targeting predictable systemic absorption.

Importantly, Insu's semaglutide research utilizes innovator-manufactured semaglutide and is supported by pharmacokinetic modelling designed to evaluate systemic exposure relative to injection-based administration. The objective of this work is to assess whether buccal delivery can achieve pharmacokinetic profiles comparable with injectable formats while offering a non-invasive dosing alternative for patients.

If demonstrated in clinical studies, a delivery approach capable of achieving injection-comparable systemic exposure without needles could represent a meaningful advancement in peptide therapeutics, particularly in markets where patient adherence is influenced by injection fatigue and convenience of administration.

Dr. Anubhav Pratap-Singh, inventor of the buccal delivery technology and scientific adviser to Insu Therapeutics, commented:

"If buccal delivery can consistently achieve systemic exposure profiles comparable to injectable formats, it has the potential to fundamentally change how complex peptide therapies are administered. Our research is focused on rigorously evaluating pharmacokinetics and bioavailability to determine whether injection-level performance can be achieved through a non-invasive delivery pathway -- which could significantly expand patient adoption across multiple peptide-based therapies."

Hydreight's investment reflects its strategy of aligning with proprietary global intellectual property and differentiated delivery technologies for peptide, hormone and biologic therapies -- including insulin, GLP-1 agonists, testosterone and other complex molecules -- in consumer-friendly dosage formats that may expand use beyond injection-based administration and can be scaled through Hydreight's national VSDHOne platform and pharmacy network.

Management believes that supporting innovative product platforms such as Insu's buccal delivery technology may enhance Hydreight's long-term margin opportunities, strengthen product differentiation across its nationwide network and support the company's strategy of selectively partnering with innovative health care technologies that can be scaled through its United States infrastructure.

Insu momentum: buccal semaglutide program plus UBC ethics approval

Insu recently announced completion of phase I preclinical studies evaluating in-vitro bioavailability of its proprietary buccal semaglutide tablet compared with injectable semaglutide and has received Research Ethics Board (REB) approval from the University of British Columbia (UBC) to initiate phase II studies.

Insu has also stated that the semaglutide used in the program is manufactured by Novo Nordisk, the innovator behind Ozempic, with phase II expected to examine pharmacokinetics, systemic exposure and performance under chronic administration.

Management believes these milestones represent meaningful validation progress for Insu's broader platform approach -- including its stated intent to extend applicability across additional peptide molecules that historically require injection-based delivery.

Strategic alignment with Hydreight's national platform

Hydreight operates:

• A 50-state compliant telehealth network;
• A 503A and 503B pharmacy network servicing all 50 states through its medical company and doctor network;
• A network of over 3,000 nurses and over 300-plus physicians;
• A national licensee base operating through its VSDHOne modular platform.

Subject to regulatory approvals and definitive agreements, Hydreight intends to pursue preferred United States' commercialization rights for peptide products utilizing Insu's buccal delivery platform through its pharmacy network and the VSDHOne licensee ecosystem.

Management believes Hydreight's proprietary U.S. health care infrastructure provides a scalable commercialization pathway that may position the company as a preferred U.S. partner for differentiated peptide formats.

This creates potential future alignment where:

• Insu develops and advances the delivery platform;
• Hydreight supports commercialization of products utilizing that platform through its 50-state infrastructure;
• VSDHOne licensees distribute to patients nationwide.

This structure positions Hydreight not only as a healthcare infrastructure provider -- but as a potential commercialization partner for differentiated therapeutic formats, subject to regulatory approvals and the successful development of Insu's platform.

Hydreight's long-term strategy is to combine:

1. Infrastructure (telehealth plus pharmacy network);
2. Distribution (VSDHOne licensees);
3. Proprietary product access.

By selectively investing in product innovation and IP, Hydreight seeks to enhance:

• Margin control;
• Product exclusivity potential;
• Competitive differentiation;
• Long-term defensibility.

Management believes that investing upstream in technology platforms like Insu can create optionality for potential future exclusive commercialization opportunities across high-growth verticals including weight management, longevity, performance medicine and regenerative therapies, subject to regulatory approvals and future agreements.

This investment also reflects Hydreight's broader strategy of selectively aligning with innovative health care intellectual property that may complement the company's nationwide infrastructure and create long-term opportunities across both product and service layers of the digital health care ecosystem.

Shane Madden, chief executive officer of Hydreight, commented: "Hydreight is focused on building more than infrastructure -- we are building long-term strategic leverage through technology and product alignment. Insu's delivery approach represents the type of innovation that can potentially reshape how peptide-based therapies are administered. If successfully developed and approved, the ability to commercialize such products through our 50-state network would represent a meaningful strategic advantage for Hydreight."

Related party transaction disclosure

Victory Square Technologies Inc. (Canadian Securities Exchange: VST) is a control person of each of the company and of Insu, and as such, the company and Insu are non-arm's-length parties (as such term is defined in the policies of the TSX-V) to one another and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101) will apply to the transaction. The company will be relying on Section 5.5(b) of MI 61-101 as the exemption from the formal valuation requirements of MI 61-101 in respect of the subscription of the units of Insu, being a related party (as such term is defined under MI 61-101) of the company, as the common shares of the company are not listed on a specified market under MI 61-101. The company is relying on Section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the subscription of the units as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, such issuances exceeded 25 per cent of the company's market capitalization.

As the transaction (a) will not result in the creation of a new control person for the company, (b) does not result in a non-arm's-length party receiving 10 per cent or more of the number of outstanding securities of the company on a non-diluted basis, prior to the closing date of the transaction, and (c) is not a reviewable disposition (as such term is defined in the policies of the TSX-V), shareholder approval is not required for this transaction.

About Hydreight Technologies Inc.

Hydreight Technologies is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform hosts a network of over 3,000 nurses, over 300 physicians and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking and managing patient data, which enables licensed health care professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians and other licensed health care professionals. The Hydreight platform allows health care professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503A and 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network.

About VSDHOne -- direct-to-consumer platform

Developed in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), Hydreight Technologies launched the VSDHOne (read as VSDH One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the on-line health care space compliantly. This platform will help all businesses to launch a direct-to-consumer health care brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s, peptides, personalized health care treatments, sermorelin, testosterone replacement therapy, hair loss, skin care, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, and modular end-to-end solution for businesses looking to launch direct-to-consumer health care brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the on-line health care space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months.