Mr. John McMahon reports

PROPHECY DEFI APPOINTS NEW PRESIDENT AND HEAD OF OPERATIONS

Prophecy Defi Inc. has appointed Paul Rekai as president and head of operations.

Mr. Rekai will lead the next chapter of Prophecy's operations and growth. In this position, Mr. Rekai will complement Prophecy's existing leadership team of experienced traditional finance and crypto operators and look to expand revenue streams by providing essential financial services for Defi projects and investors alike.

Mr. Rekai is a crypto-native investor and operator, with experience working directly with on-chain Defi (decentralized finance) projects and investor-facing roles, bringing traditional investors into the world of crypto. Most recently, Mr. Rekai was head of business development at AltFi Capital, a digital asset hedge fund and investor service provider. In addition, Mr. Rekai has served as a key adviser to SX Network, the largest blockchain-based betting site in the world. Mr. Rekai has deep expertise in Defi, through operational experience with decentralized exchanges (DEXs) and automated market makers (AMMs) in yield farming and liquidity provision activities.

"We are extremely excited to have Paul join Prophecy's leadership team as we focus on driving more operational growth," said John McMahon, chief executive officer, Prophecy Defi. "Paul has the skills and experience necessary to help grow the business in a meaningful way."

In connection with Mr. Rekai's appointment the company has granted him an aggregate of three million options to purchase common shares of the company, with one million options each exercisable at prices of five cents, 10 cents and 15 cents, vesting over a two-year period and expiring three years from the date of issuance. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

About Prophecy Defi Inc.

Prophecy Defi provides retail and institutional investors with access to the decentralized finance sector by bridging the gap between Defi and traditional finance. Prophecy Defi invests in diverse Defi and Web 3.0 start-ups to create new business opportunities in a coherent ecosystem.

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