Mr. Paul Hughes reports

PLAID TECHNOLOGIES ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS AND MANAGEMENT CEASE TRADE ORDER

Plaid Technologies Inc. has made an application to the B.C. Securities Commission to approve a temporary management cease trade order under National Policy 12-203 (Cease Trade Orders for Continuous Disclosure Defaults), which will prohibit trading securities by the company by the chief executive officer and chief financial officer of the company until such time as the required filings (defined below) and all continuous disclosure requirements have been filed by the company, and the MCTO has been lifted. During the period in which the MCTO is effective, the general public, which is not an insider of the company, will continue to be able to trade in the company's listed securities. The MCTO was granted on July 30, 2026.

The company made the application for the MCTO as it expected that it would be unable to file its audited financial statements for the year ended March 31, 2026, and management's discussion and analysis and related chief executive officer and chief financial officer certificates for this period before the July 29, 2026, filing deadline.

The company and the auditor expected a delay in the audit due to the company having a change in auditor in April, 2026, and a fundamental change in August, 2025. As such, the company was concerned that the annual filings might not be filed on time because the successor auditor needs time to complete its work. The company anticipates that it will be in a position to remedy the default by filing the required filings before Sept. 28, 2026. The MCTO will be in effect until the required filings are filed.

As required by the National Policy 142-203, the company confirms that it is not subject to any insolvency proceeding as at the date of this news release. The company confirms that, so long as it remains in default of the specified requirement(s) described above, it intends to satisfy the provisions of the alternative information guidelines set out in National Policy 12-203 (Management Cease Trade Orders). In addition, the company confirms that, other than as disclosed in this news release, there is no material information concerning the affairs of the company that has not been generally disclosed.

About Plaid Technologies Inc.

Plaid is a Canadian advanced material company focused on the development and commercialization of graphene-enhanced technologies, including applications in construction, energy and industrial materials.

We seek Safe Harbor.