Mr. Sean Homuth reports

DEFSEC TECHNOLOGIES STRENGTHENS BOARD WITH NEW APPOINTMENT AND PROVIDES SHAREHOLDER MEETING UPDATE

Defsec Technologies Inc. has augmented its board team with a strong new appointment.

Niel Marotta has been appointed as a member of the board, effective Jan. 23, 2026. He brings extensive capital markets experience with emerging companies, and currently serves as chief executive officer of Sun Summit Minerals Corp. (TSX Venture Exchange: SMN). Mr. Marotta is an accomplished executive with an exceptional record of leadership, investment expertise and entrepreneurial success. Prior to joining Sun Summit Minerals, he was a top-performing fund manager at Fidelity Management and Research Company (FMR Co.) in Boston, where he managed over $1-billion across multiple industries, including the Fidelity Select Gold Portfolio, a precious metals equity-focused fund. Mr. Marotta also served as vice-president of Orezone Resources, playing a key role in its $350-million acquisition by Iamgold in 2009. He has worked as an investment banker and entrepreneur and has been involved with financings and M&A (merger and acquisition) transactions exceeding $1-billion. He was also the co-founder and chief executive officer of Indiva Ltd. Mr. Marotta holds a bachelor of commerce with distinction from McGill University.

"We're delighted to welcome Niel to the Defsec team," said Sean Homuth, president and chief executive officer. "Fiscal 2025 was a year of very strong growth in revenue momentum and we anticipate continued growth through fiscal 2026, making this the right time to add exceptional talent and capacity for the many opportunities ahead."

amended management information circular

The company previously filed a management information circular dated Jan. 5, 2026, and form of proxy in connection with its annual and special meeting of shareholders to be held on Feb. 12, 2026. As a result of the recent addition of Mr. Marotta to the board of directors as noted above, the company will be filing an amended and restated notice of the annual and special meeting of shareholders, to be held on Feb. 19, 2026, and a related amended and restated management information circular and form of proxy.

The amended circular replaces and supersedes the original circular, to reflect: (i) the increase in the number of directors to be fixed from six to seven; (ii) the addition of Mr. Marotta as a director nominee; (iii) the treatment of completed and received proxies prior to the date hereof; and (iv) the change of the meeting date to Feb. 19, 2026. The amended circular is unchanged in all other respects, including the original record date of Jan. 2, 2026.

Original proxies provided in connection with the original circular that have already been completed and returned will remain valid. Any original proxy received from a shareholder shall be used, pursuant to the discretionary authority conferred by the form of proxy, to vote: (i) for the number of directors of the company to be set at seven; and (ii) for the election of Mr. Marotta as a director of the company. Shareholders do not need to complete the amended proxy unless they wish to vote against or withhold, as applicable, on either of these resolutions. If shareholders wish to vote against or withhold, as applicable, on either of these resolutions, they may do so by filing the amended proxy as discussed and enclosed in the amended circular. Any completed and returned amended proxy shall automatically supersede and revoke the original proxy.

About Defsec Technologies Inc.

Defsec develops and commercializes breakthrough next-generation tactical systems for military and security forces. The company's current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons. Other Defsec products include countermeasures against threats such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM (original equipment manufacturer) products and battlefield management systems, and all come integrated with TAK. The company also has a new proprietary non-lethal product line branded Para Shot with applications across all segments of the non-lethal market, including law enforcement. The company is headquartered in Ottawa, Canada, with a representative office in London, United Kingdom.

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