Mr. Shafin Tejani reports

VICTORY SQUARE PROVIDES UPDATE ON HYDREIGHT AND HEALTHCARE INVESTMENTS FOLLOWING FDA ADVISORY COMMITTEE RECOMMENDATIONS ON PEPTIDE-RELATED BULK DRUG SUBSTANCES

Victory Square Technologies Inc. is providing shareholders with an update following today's news release issued by Hydreight Technologies Inc. regarding the recommendations of the U.S. Food and Drug Administration pharmacy compounding advisory committee relating to certain peptide-related bulk drug substances.

Victory Square is Hydreight's largest shareholder, holding 23,891,515 common shares, representing approximately 44.5 per cent of Hydreight's issued common shares. The company is issuing this update because the regulatory developments described in Hydreight's announcement relate to one of Victory Square's significant health care investments.

During its meeting held July 23 and July 24, 2026, the FDA advisory committee recommended that six peptide-related bulk drug substances -- BPC-157, KPV, TB-500, MOTS-c, Semax and Epitalon -- be included on the Section 503A bulks list. The committee did not recommend Emideltide (DSIP).

The advisory committee's recommendations are non-binding and do not constitute FDA approval of any bulk drug substance or finished drug product. FDA will determine whether to propose the substances for inclusion on the Section 503A bulks list through its regulatory rule-making process.

Hydreight's news release outlines the company's comments regarding the committee's recommendations and notes that Hydreight will continue to monitor the regulatory process while evaluating potential opportunities in consultation with its clinical, pharmacy and legal partners. Shareholders are encouraged to review Hydreight's news release for additional information.

Victory Square's health care investments include companies operating in health care infrastructure, digital health care, drug delivery technology and companion animal health. The following summarizes certain of these investments and previously disclosed activities that may be relevant to shareholders in connection with the recent FDA advisory committee recommendations.

Hydreight Technologies Inc.

Victory Square is the largest shareholder of Hydreight, a digital health care platform that connects health care providers, pharmacies and patients across the United States.

According to Hydreight's most recently reported public disclosures, its platform includes:

• More than 12,000 VSDHOne licences sold;
• Operations across all 50 U.S. states;
• A nationwide network of more than 300 licensed physicians;
• More than 3,000 licensed nurses;
• A nationwide pharmacy network; and
• More than 45 physician-supervised treatment offerings, including GLP-1 therapies, peptide-based treatments, hormone optimization, NAD+ therapies, IV wellness, sexual health, hair restoration and other personalized health care programs.

VSDHOne is Hydreight's proprietary technology platform providing telehealth infrastructure, physician networks, pharmacy fulfilment, compliance and direct-to-consumer health care enablement across all 50 U.S. states.

Hydreight has publicly disclosed that peptide-based therapies, including GLP-1 therapies, Sermorelin and Ipamorelin, are currently offered through its physician-supervised health care platform.

Hydreight's news release regarding the FDA advisory committee recommendations was issued on July 29, 2026.

Insu Therapeutics

Victory Square also holds an investment in Insu Therapeutics, a development-stage biotechnology company developing a proprietary buccal drug delivery platform for peptide and biologic molecules.

As previously disclosed, Insu's technology is being developed to deliver peptide and biologic medicines through the buccal mucosa (inner cheek) as an alternative route of administration to injectable and traditional oral dosage forms. The platform is designed to support multiple peptide and biologic molecules, and remains subject to continuing research, development, clinical evaluation and applicable regulatory processes.

The company has previously disclosed that the technology is being developed with objectives that include:

• Providing a needle-free route of administration;
• Eliminating the need for sharp disposal associated with injectable therapies;
• Delivering medicines through the buccal mucosa rather than the gastrointestinal tract;
• Reducing certain administration requirements associated with oral peptide formulations; and
• Providing an alternative delivery platform for peptide and biologic medicines.

Pawsible Ventures

Victory Square is also developing Pawsible, a companion animal health initiative focused on technology-enabled veterinary care, diagnostics, therapeutics and preventative health.

Coming shareholder webinar

Victory Square previously announced that it will host a live shareholder webinar featuring Insu Therapeutics on Wednesday, Aug. 5, 2026, from 1:15 p.m. PST to 2 p.m. PST.

Management of Insu Therapeutics will provide an update on the company's development activities, its proprietary buccal drug delivery platform and current development road map. The webinar will conclude with a live question-and-answer session.

Date:  Wednesday, Aug. 5, 2026

Time:  1:15 p.m. PST to 2 p.m. PST

Please register.

Shareholders are encouraged to submit questions in advance to IR@victorysquare.com.

About Victory Square Technologies Inc.

Victory Square is a publicly traded company that invests in, develops and supports businesses operating across health care infrastructure, digital health, artificial intelligence, immersive technologies and other emerging sectors.

The company maintains a portfolio of operating and development-stage businesses, with a particular focus on health care infrastructure, software platforms and technology-enabled services.

Victory Square provides its companies with access to capital, operational support, strategic guidance and industry relationships to assist in their development and growth.

The company is headquartered in Vancouver, B.C., Canada, and its common shares trade on the Canadian Securities Exchange, the Frankfurt Stock Exchange and the OTC market.

We seek Safe Harbor.