Mr. Arian Hopkins reports

DRAGANFLY ANNOUNCES PRICING OF US$8.0 MILLION UNDERWRITTEN PUBLIC OFFERING TO SECURE GROWTH CAPITAL

Draganfly Inc. has priced a firm commitment underwritten public offering with gross proceeds to the company expected to be approximately $8-million (U.S.), before deducting underwriting discounts and other estimated expenses payable by the company. The offering consists of eight million common shares at a price to the public of $1 (U.S.) per share. The company intends to use the net proceeds from this offering for general corporate purposes, including to finance its capabilities to meet demand for its new products including growth initiatives and/or for working capital requirements, including the continuing development and marketing of the company's core products, potential acquisitions, and research and development.

In addition, the company granted the underwriter a 30-day option to purchase additional shares of common shares, representing up to 15 per cent of the number of the shares offered in the base deal, solely to cover overallotments. The offering is expected to close on March 31, 2023, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

About Draganfly Inc.

Draganfly is a creator of drone solutions, software and AI (artificial intelligence) systems.

We seek Safe Harbor.