Mr. Shafin Tejani reports

VICTORY SQUARE TECHNOLOGIES REPORTS NET INCOME OF $10,661,274 AND EARNINGS PER SHARE OF $0.11 IN Q3 2024

Victory Square Technologies Inc. has released its consolidated financial results for the three months ended Sept. 30, 2024, and a summary of key business achievements.

The third quarter of 2024 was a milestone quarter, reflecting the company's continued commitment to delivering shareholder value through innovation, strategic partnerships and a diversified portfolio of high-growth technology companies.

Q3 2024 financial and business highlights:

• Net income -- increased to $10,661,274, a significant turnaround from a net loss of $4,926,854 in Q3 2023;
• Earnings per share -- rose to 11 cents, compared with a loss of four cents in the same period last year;
• Hydreight Technologies:
  • Reported record revenue of $6.12-million in Q3 2024, representing a year-over-year increase of 54 per cent;
  • Achieved positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization);
  • Ranked 56th on the 2024 Deloitte Technology Fast 500 in North America and ninth in Deloitte's Technology Fast 50 in Canada.
• VSDHOne launch -- in partnership, introduced a telemedicine and e-commerce solution that helps companies launch a direct-to-consumer health care brand in a matter of days in all 50 states. VSDHOne sold over 200 licences across all 50 within the first 90 days;
• Strategic transaction -- completed a strategic deal with Edge Total Intelligence, securing 4.25 million shares valued at $4.25-million as of Sept. 30, 2024;
• Stardust Solar -- began trading on the TSX Venture Exchange under the symbol SUN.

"Victory Square's Q3 2024 results are a testament to the strength of our strategy and the potential of our diverse portfolio of cutting-edge companies," said Shafin Diamond Tejani, chief executive officer of Victory Square Technologies. "Achieving a net income of over $10.6-million and earnings per share of 11 cents underscores our ability to create value for shareholders while fostering innovation across emerging technology sectors. We're particularly proud of the success of Hydreight Technologies and the rapid adoption of VSDHOne, which highlight our commitment to shaping the future of health care and technology. As we close out 2024, we remain focused on driving growth, increasing profitability and delivering exceptional returns for our investors."

The company's consolidated financial statements for the three months ended Sept. 30, 2024, along with the management's discussion and analysis, are available on SEDAR+.

Victory Square Technologies investor webinar

The company is excited to invite you to the next Victory Square investor webinar question-and-answer session with Mr. Tejani. This webinar will be focused on providing a company update and answering shareholders' questions.

Date:  Thursday, Dec. 12, 2024

Time:  11:15 a.m. PT to 12 p.m. PT (2:15 p.m. ET to 3 p.m. ET)

Location:  via Zoom

About Victory Square Technologies Inc.

Victory Square Technologies builds, acquires and invests in promising start-ups across various industries, including artificial intelligence, gaming, blockchain, clean technology and digital health. Through its dynamic ecosystem, Victory Square nurtures and scales innovative companies, creating long-term value for shareholders.

We seek Safe Harbor.