Mr. Johan Wattenstrom reports

DEFI TECHNOLOGIES ANNOUNCES SHAREHOLDER CALL TO DISCUSS RECORD 2025 FINANCIAL RESULTS WITH REVENUE OF $99.1 MILLION AND NET INCOME OF $62.7 MILLION

Defi Technologies Inc. will hold a shareholder call on Tuesday, April 7, 2026, at 11:00 a.m. EST to discuss its financial performance for the three months and 12 months ended Dec. 31, 2025.

Important -- To register for the webcast, see below.

When:  Tuesday, April 7, 2026

Time:  11 a.m. Eastern Time

Topic:  Defi Technologies 2025 financials

Please register on-line in advance for this webinar.

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Audited financial highlights

Revenue:

• Total revenue for the fiscal year ended Dec. 31, 2025, was $99.1-million, compared with $31.4-million in fiscal 2024, representing a 215-per-cent increase.
• For the three months ended Dec. 31, 2025, revenue was $20-million, compared with negative $19.3-million in Q4 2024.

Net income:

• Net income and comprehensive income for the fiscal year ended Dec. 31, 2025, was a record $62.7-million, compared with a net loss of $27.6-million in fiscal 2024.
• For the three months ended Dec. 31, 2025, net income was $28.9-million, compared with a net loss of $22.3-million in Q4 2024.

Q4 2025 versus Q4 2024:

• For the three months ended Dec. 31, 2025, Defi Technologies reported revenue of $20-million and net income of $28.9-million, compared with revenue of negative $19.3-million and a net loss of $22.3-million in Q4 2024.
• The year-over-year improvement of $51.2-million in net income reflects the company's operational transformation and the resilience of its diversified business model across market cycles.

Operating expenses:

• Total operating expenses decreased 14 per cent to $52.6-million, compared with $61.3-million in 2024.
• The decrease was driven primarily by a $6-million reduction in share-based payments and lower operating, general and administrative costs, reflecting management's continued focus on operating discipline and efficiency.

Valour -- staking, lending and management fees:

• For the fiscal year ended Dec. 31, 2025, Valour generated $13.1-million in staking and lending income, compared with $13-million in 2024.
• Management fees increased to $9.7-million, compared with $6.4-million in 2024, representing 51-per-cent growth, driven by higher average AUM (assets under management).
• Average AUM throughout fiscal 2025 was approximately $809.9-million.

Stillman Digital:

• For the fiscal year ended Dec. 31, 2025, Stillman Digital generated $9.6-million in trading commissions revenue.
• This compares with $2.1-million in fiscal 2024 and reflects the first full year of contribution to Defi Technologies' consolidated results following the October, 2024, acquisition.

Reflexivity Research:

• For the fiscal year ended Dec. 31, 2025, Reflexivity Research generated $500,000 in research revenue, compared with $1.4-million in 2024.
• Management is focused on reinvigorating the business through expanded distribution partnerships, new sponsorship revenue channels and a refreshed product offering.

Defi Advisory:

• The company launched its Defi Advisory business line in Q3 2025, generating $300,000 in advisory revenue for the fiscal year.
• Defi Advisory is positioned as a full-stack partner for corporate digital asset treasury programs.

Audited cash and treasury position:

• Cash balance: As of Dec. 31, 2025, Defi Technologies' consolidated cash, including USDT/USDC balance, stood at $113.8-million ($91.2-million of cash).
• Digital asset treasury holdings: As of Dec. 31, 2025, the company's digital asset treasury holdings totalled approximately $35.5-million.
• Venture portfolio: As of Dec. 31, 2025, the company's venture and private portfolio was valued at approximately $29.4-million.

Together, total cash, treasury and venture portfolio value stood at approximately $178.7-million as of year-end. The company regularly monitors its cash and digital asset reserves on a consolidated basis and allocates a portion of its digital asset treasury reserve to support ETP (exchange-traded product) market risk hedging.

Comment from Johan Wattenstrom, chief executive officer of Defi Technologies

"These results reflect the strength of the business model we have built. Valour continued to scale its global ETP platform with more than 100 listed products and strong inflows throughout the year. Stillman Digital delivered its first full year of contribution and further strengthened the institutional layer of our platform. Across the business, we have demonstrated that Defi Technologies is not reliant on any single product, revenue stream or market environment. We have built a durable business with multiple pathways for growth and believe we have never been better positioned to scale the platform and capitalize on the opportunities ahead.

"We believe Defi Technologies is one of the few profitable companies in the digital asset sector, across both public and private markets, with demonstrated earnings power and a platform built to generate revenue across cycles. That distinction matters. It reflects a business designed not only to grow but to monetize effectively and compound value over time.

"We ended the year with a much stronger financial position, including more than $113-million in cash, alongside digital asset treasury holdings and a valuable venture portfolio. That fortress balance sheet allows us to be pro-active rather than reactionary. It enables us to deploy capital deliberately into growth initiatives, new products, strategic infrastructure and potential acquisitions that deepen our capabilities, expand our vertical integration and strengthen our long-term earnings profile.

"The capital we raised has also enhanced our ability to increase monetization across the platform, particularly by strengthening the trading, hedging and market-making infrastructure that supports Valour's issuance stack and allows us to earn additional income on AUM more efficiently. As we look ahead to 2026, we intend to build on that momentum by scaling Valour's structured product offerings, advancing institutional fund structures such as UCITS [undertakings for collective investment in transferable securities], AMCs [actively managed certificates] and other regulated investment vehicles, supporting Stillman's institutional execution and infrastructure growth, and broadening our reach across new markets and distribution channels.

"More broadly, we are building for the convergence of decentralized finance and traditional capital markets. We see a significant long-term opportunity to create the products, infrastructure and institutional rails that enable capital to move between these two worlds in a regulated, efficient and scalable way.

"We are entering 2026 from a position of strength, with a proven business model, growing monetization and the financial flexibility to invest in the next phase of growth. We believe we are still in the early stages of building the institutional gateway to the future of finance."

About Defi Technologies Inc.

Defi Technologies is a financial technology company bridging the gap between traditional capital markets and decentralized finance (defi). As the first Nasdaq-listed digital asset manager of its kind, Defi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to 100 of the world's most innovative digital assets through regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and Defi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, Defi Technologies is building the institutional gateway to the future of finance.

About Valour

Valour Inc. and Valour Digital Securities Ltd. issue exchange-traded products (ETPs) that enable retail and institutional investors to access digital assets in a simple and secure way through their traditional bank accounts. Valour is part of the asset management business line of Defi Technologies.

About Stillman Digital

Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement and technology.

About Reflexivity Research LLC

Reflexivity Research is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights.

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