Mr. Abhinav Singhvi reports

VOLATUS AEROSPACE INC. ANNOUNCES CLOSING OF FINANCING

Volatus Aerospace Inc. has closed its previously announced commercially reasonable best-efforts private placement of an aggregate of 19,766,000 units of the company at a price of 14 cents per unit for aggregate gross proceeds of $2,767,240. Each unit consists of one common voting share of the company and one common voting share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 20 cents per warrant share for a period of 24 months following the closing of the offering.

The company intends to use the net proceeds of the offering for research and development, capital expenditures, inventory, and general corporate and working capital purposes.

The offering was conducted by Ventum Financial Corp. and Cormark Securities Inc., as co-lead agents, together with Desjardins Securities Inc. and Raymond James Ltd., pursuant to an agency agreement dated Nov. 6, 2024. The company paid to the agents: (i) a cash commission of $193,706.80; and (ii) non-transferrable compensation options of the company exercisable at any time prior to Nov. 6, 2024, to acquire up to 1,383,620 units of the company at a price equal to the issue price, subject to adjustment in certain events. The compensation option units have the same terms as the units sold in the offering.

The units sold under the offering were issued and sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions. A copy of the offering document under the listed issuer financing exemption dated Oct. 28, 2024, as amended and restated on Nov. 5, 2024, is available under the company's profile on SEDAR+ and on the company's website. All units issued pursuant to the listed issuer financing exemption are not subject to resale restrictions in Canada, in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. All other securities not issued pursuant to the listed issuer financing exemption, including the compensation option units, are subject to a statutory hold period in accordance with applicable Canadian securities laws, expiring on March 7, 2025.

About Volatus Aerospace Inc.

Volatus is a leader in innovative global aerial solutions for intelligence and cargo. With over 100 years of combined institutional knowledge in aviation, Volatus provides solutions for a wide array of industries, including oil and gas, energy utilities, public safety, and infrastructure. The company is committed to enhancing operational efficiency, safety and sustainability through cutting-edge aerial technologies.

We seek Safe Harbor.