Mr. Kevin Bottomley, an investor, reports

EARLY WARNING PRESS RELEASE

Pursuant to the requirements of National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Kevin Bottomley (the purchaser) announces the acquisition of ownership of common shares of Pender Street Capital Corp.

On Jan. 16, 2026, pursuant to a series of private agreements with two arm's-length sellers, the purchaser acquired an aggregate of 1,197,500 common shares of the company at an average price of 5.8 cents per share for a total purchase price of $69,825.

The common shares were acquired from the following sellers:

• Mark Vanry -- 497,500 common shares;
• Ranjeet Sundher -- 700,000 common shares.

Immediately prior to the transaction, the purchaser beneficially owned, or exercised control or direction over, nil common shares.

Immediately following the transaction, the purchaser beneficially owns, or exercises control or direction over, an aggregate of 1,197,500 common shares, representing approximately 19.96 per cent of the issued and outstanding common shares of the company on a non-diluted basis.

Neither of the sellers, following completion of the transaction, beneficially own or exercise control or direction over more than 10 per cent of the issued and outstanding common shares of the company.

The common shares were acquired by the purchaser for investment purposes. The purchaser may, depending on market conditions and other relevant factors, acquire additional securities of the company or dispose of securities of the company in the future. The purchaser does not currently have any intention to acquire securities that would result in a change of control of the company.

An early warning report will be filed within two days of the date of this press release by the purchaser on SEDAR+ under the company's issuer profile and is available for public viewing.