Mr. Mat Cybula reports

TENX PROTOCOLS PROVIDES UPDATE ON BLADE LABS ACQUISITION IP TO ACCELERATE VALIDATOR EXPANSION WHILE MAINTAINING A STRONG BALANCE SHEET TO FUND FUTURE GROWTH

Tenx Protocols Inc. has provided an update on its acquisition of proprietary software code and related intellectual property from Blade Labs Corp. for total consideration of $320,000, which was completed on July 8, 2025, as disclosed in its filing statement dated Nov. 25, 2025. The purchase price consisted of $160,000 in cash and 213,333 common shares of the company valued at 75 cents per share.

The company also wishes to provide an update regarding the initial composition of its digital asset and cash holdings following the commencement of trading on the TSX Venture Exchange.

Acquisition of blockchain intellectual property to accelerate validator development

As previously disclosed, the company acquired proprietary infrastructure and related intellectual property from Blade Labs, valued at approximately $320,000 in cash and shares.

The acquisition of proprietary blockchain validator infrastructure and intellectual property from Blade Labs is designed to accelerate validator development on the Solana (SOL) and Sui (SUI) networks, and includes validator monitoring, performance optimization and network integration software tailored for high-throughput blockchain environments. The technology is expected to support the company's buildout of institutional-grade validator infrastructure, enhance operational efficiency, and strengthen on-chain operations across the Solana and Sui ecosystems.

Under a six-month service agreement beginning on Jan. 2, 2025, Tenx will provide Blade Labs with validator hosting, monitoring and technical support services, with Blade Labs paying Tenx a fixed monthly fee of $5,000 for these services. The agreement is designed to support Blade Labs' continuing validator operations across high-throughput networks and reflects Tenx's role as a service provider following the acquisition of Blade's technology.

"Strengthening our validator technology through this acquisition supports our long-term infrastructure road map across high performance networks," said Mat Cybula, chief executive officer of Tenx Protocols.

Strong balance sheet to expand through different market cycles

Following the company's listing on the TSX Venture Exchange and the closing of the Blade Labs acquisition, Tenx holds the following digital assets on its balance sheet, as at Dec. 16, 2025, which the company believes will position it for growth in different market cycles, including:

• 19,699 Solana (SOL);
• 21,748,120 Sei (SEI);
• 129,263 Sui (SUI;);
• 7,244,333 USDC.

These assets are intended to be deployed into validator infrastructure, where they can participate in network consensus and generate staking revenue. In addition to digital asset holdings, as at Dec. 16, 2025, the company holds approximately $5.6-million to support its operations and infrastructure development. Tenx reports no debt obligations, as at Dec. 16, 2025.

About Tenx Protocols Inc. and management

Tenx is a technology company focused on generating recurring revenue from the crypto asset economy. The company operates staking infrastructure, earns cash flow from its inventory of crypto assets, and provides infrastructure, advisory and development services across high-throughput blockchain networks. Through proprietary staking, hosted solutions and strategic protocol partnerships, Tenx gives public market investors exposure to the growth of next-generation blockchains and the broader Web3 ecosystem.

Mat Cybula and Filip Cybula are seasoned crypto entrepreneurs who have been active in the industry for more than a decade. As co-founders of Cryptiv Inc., an institutional custodial wallet provider, they led the company -- Mat as chief executive officer and Filip as chief operating officer -- through rapid growth and ultimately to a successful acquisition in 2019. They are joined by Geoff Byers, a veteran blockchain developer with more than a decade of experience building secure crypto systems. Mr. Byers previously served as chief technology officer and co-founder of Cryptiv, where he developed institutional-grade custody infrastructure, and later as CTO of Tetra Trust, Canada's first qualified crypto custodian. Together, the founding team brings deep expertise in crypto economics, blockchain engineering and secure infrastructure as they expand Tenx Protocols, a next-generation digital asset treasury participating directly in high-throughput blockchains and decentralized applications.

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