Mr. Ian Paterson reports

PLURILOCK PROVIDES CORPORATE UPDATE

Plurilock Security Inc. has provided a corporate update detailing progress on new defence-focused momentum and continued execution of its high-value critical service growth strategy.

Federal capture team and critical service pipeline

Building on its enterprise foundation, Plurilock has established a dedicated capture team to pursue competitive government cybersecurity opportunities across the United States, Canada, the North Atlantic Treaty Organization and allied nations. Led by newly appointed chief technology officer and critical service general manager Michael Ruiz, this initiative positions the company to compete for major federal cybersecurity contracts across allied nations, with a focus on critical national infrastructure and defence.

Despite continuing discussions in Washington around reducing information technology budgets, the U.S. public sector remains a resilient and expanding cybersecurity market. The fiscal 2026 discretionary budget exceeds $75-billion (U.S.) for the first time, driving modernization initiatives across federal agencies. New mandates from the National Institute of Standards and Technology and Department of Homeland Security are accelerating infrastructure transformation while emerging threats from quantum computing and adversarial nations continue to elevate cybersecurity as a national security priority. While these advancements reflect broader industry tailwinds, Plurilock acknowledges that such budgetary and policy trends may not directly impact the company.

In September, Plurilock added three new critical service customers, expanded work with two existing clients and recorded one of its strongest months to date for new business pipeline development. These developments reflect steady progress in expanding client relationships and pursuing larger cybersecurity engagements through the company's strategic partner network.

Plurilock also secured several repeat orders from U.S. and Canadian federal agencies, reinforcing the continuity of its government relationships. These revenue streams add visibility and support the company's organic growth trajectory. In connection with all critical service contracts and pipeline, Plurilock anticipates that fulfilment costs and gross margins will remain consistent with its historic professional service business, as disclosed in its most recent management's discussion and analysis. Contract terms remain subject to confidentiality and non-disclosure.

Leadership strengthened

In support of its strategic growth agenda, Plurilock has appointed Dr. Chase Cunningham, a globally recognized cybersecurity strategist and creator of the Zero Trust Extended Framework, to its industry advisory council. Dr. Cunningham brings over two decades of experience across cyber operations, government advisory and security architecture. His background includes roles at Forrester Research, the U.S. Navy, the NSA and Accenture.

Pursuant to the provisions of the company's amended omnibus incentive plan, the company has granted a total of 600,000 options to certain employees, consultants and an officer of the company at an exercise price of 25 cents per share for a period of five years, with 25 per cent to vest one year from the grant date and 25 per cent every 12 months thereafter. In this regard, the company has allocated 100,000 options to Veera Singh, who was recently promoted to vice-president of finance. The company has also granted a total of 850,000 restricted share units to certain employees and consultants for a three-year term, with one-third to vest one year from the grant date and one-third every 12 months thereafter. These grants were made to appropriately reward the previous and continuing contributions of the recipients and to encourage them to continue contributing significantly to Plurilock's success in future.

About Plurilock Security Inc.

Plurilock is a services-led, product-enabled, artificial-intelligence-native cybersecurity company that solves complex cyber problems in high-stakes environments where failure is not an option. Trusted by five eyes governments, NATO-aligned agencies and Global 2000 enterprises, it defends critical infrastructure and safeguards the systems that power modern life. Its critical service division delivers operational resilience through unmatched expertise, proprietary intellectual property and AI-driven playbooks.

We seek Safe Harbor.