Mr. Glen Lynch reports

VOLATUS AEROSPACE CONSOLIDATES SUBSIDIARY OPERATIONS AND OPTIMIZES COSTS THROUGH MINORITY SHARE ACQUISITION

Volatus Aerospace Corp. has acquired all the minority shares of Volatus Unmanned Services Inc. (VUS) to consolidate and optimize costs and business operations. The estimated savings through consolidation is approximately $1.1-million-plus on an annualized basis. Benefits will begin to be realized in Q3 2023 and beyond. The company executed a roll-up strategy between December, 2020, and March, 2021, and acquired six entities for cash and equity in Volatus Unmanned Services. The purchase of a minority interest will create branding synergies and operational efficiencies.

"This consolidation will allow Volatus to further promote the strengths of the Volatus brand," explained Glen Lynch, chief executive officer of Volatus Aerospace. "The full benefits of our ever-expanding drone services revenues in Canada will accrue entirely in Volatus, enabling us to introduce additional operational business efficiencies and improve costs."

Under the terms of the agreements with eight minority shareholders, the total purchase price of all minority shares is $2,399,339.00. This amount will be paid in the form of newly issued common shares of Volatus. A total of 7,270,724 Volatus shares will be issued at a share price of 33 cents.

The transaction is expected to close on or before Aug. 30, 2023, and is subject to any applicable regulatory approvals.

About Volatus Aerospace Corp.

Volatus is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety and defence markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as research and development, design, and manufacturing. Through its subsidiary, Volatus Aviation, Volatus is introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections, such as pipeline, energy, rail and cargo services. Volatus is committed to: carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance.

We seek Safe Harbor.