Mr. David Nikzad reports

WEB3 VENTURES ANNOUNCES RESULTS OF AGM AND INTRODUCES 2024 BOARD OF DIRECTORS

Web3 Ventures Inc. has released the results of voting at its annual general and special meeting of shareholders (AGM), which was held on Dec. 21, 2023. The total votes represented by proxy at the meeting were a combined 76,103,765 SVSs (subordinate voting shares) and MVSs (multiple voting shares), which constituted 44.59 per cent of the company's total eligible votes as at record date. The voting results for each matter presented at the meeting are set out in this news release.

Number of directors

The resolution to set the number of directors of the company at five was approved by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out in an attached table.

Election of directors

Each of the nominees listed for election as director in the company's management information circular was elected as a director of Web3 Ventures for the ensuing year until such director's successor is elected or appointed. Voting results are set out in an attached table.

Appointment of auditor

Reliant CPA PC is to be appointed as the auditor of the company for the ensuing year, with its remuneration to be fixed by the board of directors. Voting results are set out in an attached table.

Approval of the 2023 equity incentive plan

The resolution to authorize and approve the 2023 equity incentive plan of the company was approved by a majority of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out in an attached table.

Board of directors

As a result of the 2023 AGM, the following directors have been elected or re-elected to the board of directors:

• David Nikzad, Web3 Ventures chief executive officer and co-founder;
• Jason Hobson, Web3 Ventures chief operating officer and co-founder;
• Mike Grantis, co-founder and managing partner at Contango Digital Assets;
• Dr. Jack Rentz;
• Shidan Gouran, founder of Gulf Pearl and chairman of Bluesphere Ventures.

The company also advises that Kirill Kompaniyets and Eric Baum did not stand for re-election to the board at today's meeting and will not be reappointed as company officers or committee members. The company would like to thank Mr. Kompaniyets and Mr. Baum for their contributions to the go-public process and wishes them well with their future endeavours. In addition, Mr. Hobson has been appointed as the company's corporate secretary, and Mr. Gouran has been appointed as the chair of the audit committee with immediate effect.

"We are deeply grateful to end this year with a strong board to guide us into 2024 and beyond," said Mr. Nikzad. "Since our public listing in September, we've dedicated the past few months to curating our team and developing our road map for the upcoming year. We look forward to sharing these exciting plans with our shareholders in the near future. To our outgoing board members, your guidance has been instrumental in getting us to where we are today and we appreciate your contributions."

Web3 Ventures also announced its advisory board members in a news release earlier today, dated Dec. 21, 2023.

About Web3 Ventures Inc.

Web3 Ventures is a diversified investment company focused on identifying, incubating, accelerating and developing world-class projects and applications in wellness, health care and the decentralized Web. Focused on supporting founders and entrepreneurs, Web3's core investment pillars are blockchain-based transparency, secured identity, verified communications and gamification, focusing on early-stage, small and medium-sized enterprises.

We seek Safe Harbor.