Mr. Michael Hubbard reports

SOL STRATEGIES ANNOUNCES REPAYMENT OF CREDIT FACILITY WITH FORMER BOARD CHAIRMAN

Sol Strategies Inc. has released the terms for the repayment of its credit facility with Antanas Guoga, the lender, the company's former board chairman and a significant shareholder.

Under the terms of the amended credit facility, 50 per cent of the outstanding balance will convert to equity on Jan. 7, 2026, at a price of $2.14 per common share, based on the closing price for the common shares on Dec. 30, 2025, resulting in the issuance of 2,300,726 common shares of the company. The shares will be subject to a statutory hold period of four months and one day from the date of issuance. The remaining balance will be repaid in two equal cash tranches of $2,461,777.12 within seven and 45 days of signing, respectively.

"This balance sheet restructuring optimizes our capital structure," said Michael Hubbard, interim chief executive officer of Sol Strategies. "Mr. Guoga's conversion of half of this facility to equity reflects his continued trust in the company's Solana infrastructure business. These final repayments follow repayments in October and November totalling $7-million. This conversion is a significant milestone to reducing liabilities and maintaining a healthy balance sheet."

The lender is the former chairman and a former director of the company. He also holds common shares and options to purchase common shares of the company, representing approximately 13 per cent of its outstanding common shares on an undiluted basis. For the company, entering into the amended credit facility with the lender is a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in connection with the amended credit facility.

The company did not file a material change report at least 21 days prior to agreeing to the amended credit facility, because the company determined that it was in its interests to enter the amended credit facility upon settling its terms without delay. The company intends to file a material change report containing all the prescribed disclosures relating to this related-party transaction within the required time frame.

About Sol Strategies Inc.

Sol Strategies is a Canadian investment company that operates at the forefront of blockchain innovation. Specializing in the Solana ecosystem, the company provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications.

We seek Safe Harbor.