Mr. John Putters reports

VISIONSTATE PORTFOLIO COMPANY SOL SPACES ACCELERATES GROWTH WITH CLIMATE-RESILIENT GREENHOUSE TECHNOLOGY AND EXPANDS INTO HOUSING OPPORTUNITIES

Visionstate Corp. has provided an update on its portfolio company, Sol Spaces Inc., which continues to demonstrate strong growth as it capitalizes on the rising demand for local food security and sustainable housing solutions.

In 2025, Sol Spaces achieved its best year to date, completing more greenhouse projects than ever before while also shipping its first greenhouse kit. The introduction of the kit format is a pivotal milestone, significantly expanding Sol Spaces' addressable market by enabling efficient shipping and installation across North America. This positions the company to scale its revenues more rapidly and to tap into consumer and institutional demand for climate-resilient food production solutions.

Further demonstrating its leadership, Sol Spaces recently announced new community greenhouse projects including Elmwood Park, in collaboration with the University of Alberta, to advance sustainable growing practices:

• A 1,200-square-foot community research greenhouse featuring advanced heat recapturing through concrete slab flooring, which will capture, store and redistribute heat for greater energy efficiency. Owned and operated by a local Edmonton community league, this facility will directly support food security initiatives.
• A 500 square foot and an additional 240-square-foot greenhouse for a non-profit supporting African immigrants. The facility will provide space to grow culturally significant plants, improving access to familiar foods while fostering education, connection and community building.

A key differentiator for Sol Spaces is its commitment to intelligent product design and integrated technology that addresses the urgent challenges of climate change. Its greenhouses incorporate solar-powered venting systems and removable shading to naturally regulate climate conditions, while continuing collaborations -- such as with the University of Alberta -- are enabling the integration of advanced heat recapturing and other energy-efficient systems. Together, these innovations reduce reliance on external energy sources, enhance climate resiliency and expand Sol Spaces' expertise as a leader in sustainable infrastructure.

In addition to its greenhouse products, Sol Spaces also designs and manufactures modern backyard studios. The company is actively exploring the use of these studios as commoditized, rentable dwellings for residential backyards -- an opportunity that aligns directly with the government of Canada's recently announced national housing plan, which emphasizes innovative approaches to increasing affordable housing supply. This initiative positions Sol Spaces to expand beyond sustainable food production into affordable housing infrastructure, creating multiple growth avenues for the business.

"These projects and innovations highlight how Sol Spaces is differentiating itself as a company that combines intelligent design with climate-resilient technology," said Elliott Putters, president of Sol Spaces. "By addressing critical challenges in both food security and affordable housing, we are building scalable solutions that can have a lasting impact."

For Visionstate shareholders, Sol Spaces represents a strategic growth platform in two high-demand markets: climate-resilient food security solutions and affordable housing. With a record year behind it, a pipeline of new projects and new market opportunities emerging through its greenhouse kits and backyard dwellings, Sol Spaces is positioned for value creation in 2026 and beyond. Visionstate owns 40 per cent of Sol Spaces through convertible debenture

About Sol Spaces Inc.

Sol Spaces, a portfolio company of Visionstate, designs and manufactures innovative, climate-resilient infrastructure to address two of society's most pressing challenges: food security and affordable housing. The company's flagship greenhouse line combines intelligent design with advanced technology, including solar-powered venting, removable shading and energy-efficient heat recapturing systems, to create stable growing environments that reduce reliance on external energy sources.

Beyond greenhouses, Sol Spaces also develops modern backyard studios that can be adapted into full-service rental dwellings, representing a scalable solution to the housing affordability crisis. With a focus on intelligent design, sustainability and practical community applications, Sol Spaces is rapidly expanding its market presence across residential, community and institutional sectors.

About Visionstate Corp.

Visionstate is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly owned subsidiary of Visionstate Corp. Through Visionstate IoT, it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its Wanda smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.

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