Mr. Sunny Ray reports

DIGITAL ASSET PLATFORM INTRODUCTION: MATADOR IS PREPARING TO LAUNCH ITS DIGITAL ASSET PLATFORM, ENABLING THE INSCRIPTION OF DIGITAL ART ONTO PHYSICAL GOLD. THE PLATFORM INTEGRATES PRECIOUS METALS-BASED ART WITH BLOCKCHAIN INFRASTRUCTURE USING BITCOIN ORDINALS, A PROTOCOL BUILT ON THE BITCOIN NETWORK.

Matador Technologies Inc. is providing a corporate update as it moves toward the launch of its digital asset platform, beginning with a gold-based product on the bitcoin network, with an anticipated launch in the next couple of months. Over the past quarter, the company has made progress in product development, treasury allocation, team expansion and market engagement.

Digital asset platform and product update

The company's upcoming launch features "Grammies," one-gram units of physical gold linked to digital inscriptions using bitcoin ordinals. Users will be able to:

• View Grammies in a personalized dashboard;

• Buy and sell in a secure trading environment;

• Transfer Grammies to ordinals -- compatible bitcoin wallets;

• Print Grammies into physical gold artwork.

The launch coincides with a period of strong gold pricing -- recently surpassing $3,400 per ounce (sourced from Reuters) -- and increased interest in physical-digital asset convergence.

"Gold has always been a store of value and we believe bitcoin is the future of value transfer. Matador is where the two converge," said Mark Moss, chief visionary officer of Matador Technologies.

In a press release issued on March 31, 2025, the company appointed Antoine De Vuyst (chief technology officer) and the pseudonymous artist "dxxmsdxy" (lead designer), both with experience in bitcoin and ordinals-related development. This team expansion aims to support secure and user-focused platform delivery.

Matador expects the Grammies product to be the first of multiple offerings centred on precious metals and digital inscription. Silver and other metals are under consideration for future phases.

Treasury and capital strategy

As part of its asset diversification approach, Matador has continued to accumulate bitcoin and physical gold. Since January, 2025, the company has added over 40 bitcoin, bringing total holdings to roughly 64 BTC and BTC-equivalents. These purchases were financed with available cash.

The company also holds two kilograms of physical gold, acquired via Kitco Metals Inc., as announced in a press release issued on Jan. 24, 2025. Matador remains debt-free.

Custody and market access

As announced in a press release issued on Feb. 10, 2025, for custody of its bitcoin, Matador has engaged BitGo Trust Company, which provides cold storage and multisignature protection. Gold is held at the Royal Canadian Mint in Ottawa.

To support market liquidity and visibility, Matador retained Independent Trading Group Inc. (ITG) as a market-maker on the TSX Venture Exchange which was announced in a press release dated Jan. 8, 2025. On March 18, 2025, the company announced it listed on the OTCQB under the symbol MTDTF, broadening access to U.S.-based investors.

Industry engagement

As indicated in a press release issued Feb. 18, 2025, Matador participated in several recent industry events aimed at strengthening relationships with investors, partners and other stakeholders, including:

• Max & Stacy's bitcoin Golf Invitational (El Salvador);

• The Inaugural Crypto Ball (Washington, D.C.);

• AlphaNorth Capital Events (Bahamas and Whistler, Canada);

• Centurion One's Growth Conference (Toronto);

• PDAC 2025 (Toronto).

These engagements provided perspective on evolving market trends and helped reinforce Matador's role within the bitcoin, gold and blockchain ecosystems.

Looking ahead

Matador continues to advance its goal of developing a platform that combines real-world assets with blockchain utility. Supported by a clean balance sheet, growing team and product focus, the company is positioning itself at the intersection of traditional and digital finance.

"We've made steady progress this quarter," said Deven Soni, chief executive officer of Matador Technologies. "We're continuing to build the foundation needed to support the rollout of our digital gold product and broader asset digitization strategy."

About Matador Technologies Inc.

Matador Technologies leverages blockchain technology to digitize assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. Matador's digital gold platform aims to democratize the gold-buying experience, combining the best of modern technology and time-proven assets, to create a platform that will allow users to buy, sell and store gold 24/7 in a convenient and engaging way.

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