Mr. Johan Wattenstrom reports

DEFI TECHNOLOGIES ANNOUNCES LEADERSHIP TRANSITION: OLIVIER ROUSSY NEWTON RESIGNS AS CEO AND CHAIRMAN; CO-FOUNDER JOHAN WATTENSTROM APPOINTED AS SUCCESSOR

Olivier Roussy Newton has resigned as Defi Technologies Inc.'s chief executive officer and executive chairman of the board. The company's board of directors has appointed Johan Wattenstrom, co-founder of Valour Inc. and Defi Technologies, as chief executive officer and executive chairman, effective upon Mr. Roussy Newton's departure. Mr. Roussy Newton will be appointed strategic adviser of the company beginning in December.

After founding Valour with Mr. Wattenstrom nearly a decade ago, Mr. Roussy Newton was appointed CEO of Defi Technologies on Oct. 6, 2022, during one of the most severe bear markets in crypto history. At that time, the company's shares traded at approximately 50 cents, and it reported year-end 2022 cash of approximately $3.4-million and loans payable of approximately $37.6-million. Over the past three years under Mr. Roussy Newton's leadership, Defi Technologies scaled Valour's ETP platform, executed strategic mergers and acquisitions, strengthened its balance sheet, and cemented its position as a leader in the digital asset industry through innovation, execution, growth and profitability.

"I am proud of what our team has delivered over the past three years. We scaled and institutionalized Valour's ETP platform, strengthened our capital base, executed strategic M&A, and delivered record financial results for our shareholders," said Mr. Roussy Newton. "I'm deeply grateful for the support of our employees, partners and investors, and am confident that Johan, having been by my side since the inception of the company, is the right person to lead Defi Technologies through its next phase of growth."

Highlights under Mr. Roussy Newton's leadership:

• Expanded exchange-traded product platform to 100 listed products with more than $1-billion (U.S.) in assets under management, broadening investor access to digital assets across major European exchanges;
• Uplisted to Nasdaq Capital Market under ticker DEFT and subsequently commenced options trading on Nasdaq, increasing visibility and access for U.S. investors;
• Accelerated revenue expansion, including scaling Defi's revenues from $4.5-million in 2021 to more than $50-million in 2024; under Mr. Roussy Newton's most recent year as CEO, Defi generated over $80-million year to date and is on track to deliver its first $100-million-plus revenue year;
• Debt reduction and financial flexibility, including the full repayment of outstanding debt at Valour, significantly improving the asset management subsidiary's financial profile and flexibility;
• Strategic M&A and diversification, including the acquisition of Stillman Digital, a global digital-asset liquidity provider and OTC desk that enhances trading, market-making and institutional capabilities;
• Organizational depth, with key executive hires across asset management, trading, technology and capital markets, that supports continued expansion and governance;
• Index inclusions and market transparency initiatives, including additions to widely followed indices and the adoption of third party tools to enhance trading surveillance and shareholder intelligence;
• Strengthened the balance sheet, including a registered direct offering of approximately $100-million led by strategic, blue-chip institutions to pursue further digital asset expansion, lending and staking transactions, provide funds for potential acquisition opportunities, and finance recently announced business initiatives that align with its growth strategy.

Leadership succession

The board of directors has appointed Johan Wattenstrom, co-founder of Defi Technologies, as chief executive officer and executive chairman.

Mr. Wattenstrom is a seasoned entrepreneur and executive with nearly two decades of experience at the intersection of digital assets, trading and financial infrastructure. He co-founded Valour, Defi's European ETP platform, and has been instrumental in shaping the company's product strategy, trading architecture and global exchange relationships since inception.

Prior to Defi Technologies, Mr. Wattenstrom founded and served as CEO of XBT Provider, the issuer of the world's first bitcoin ETP, which quickly surpassed $1-billion in assets under management and became one of Europe's most relied upon regulated on-ramps to crypto before its acquisition by CoinShares. His work establishing secure, exchange-listed bitcoin exposure set the template for how institutions first entered digital assets and remains a foundational milestone for the industry today.

Mr. Wattenstrom also previously founded Nortide Capital, a global digital-asset trading and market-making firm, which provides liquidity and structured solutions to some of the world's largest exchanges and token issuers. His combined experience across product structuring, market-making and institutional trading uniquely positions him to lead Defi Technologies into its next phase of growth.

"Olivier and I have built this company together from the ground up," said Mr. Wattenstrom. "I'm grateful for his leadership and friendship, and I look forward to leading Defi Technologies into its next phase of growth. We will continue to scale our ETP platform globally, expand our trading operations both internally and through Stillman Digital, and continue to bridge traditional capital markets with the digital asset ecosystem."

Following the transition, Mr. Roussy Newton will be a strategic adviser to the company and remain a cornerstone shareholder of the company, ensuring continuity of vision and execution as Defi Technologies enters its next stage of expansion. He is also deeply focused on strengthening the bridge between Defi Technologies and BTQ Technologies, leveraging BTQ's quantum-secure infrastructure to enhance the resilience, security and long-term competitiveness of Defi's product ecosystem.

About Defi Technologies Inc.

Defi Technologies is a financial technology company bridging the gap between traditional capital markets and decentralized finance. 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.

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