Mr. Doug Harris reports

SOL STRATEGIES ANNOUNCES AT-THE-MARKET OFFERING

Sol Strategies Inc. has entered into a controlled equity offering sales agreement, providing for an at-the-market equity offering program with Cantor Fitzgerald & Co., Cantor Fitzgerald Canada Corp. (the Canadian agent) and Roth Capital Partners LLC (the U.S. agent).

The offering will allow the company, through the lead agents, to offer and sell from time to time up to $50-million (U.S.) of common shares of the company in the United States and Canada. Sales of the offered shares, if any, are anticipated to be made in transactions that are deemed to be at-the-market distributions as defined in National Instrument 44-102 -- Shelf Distributions -- or at-the-market offerings as defined in Rule 415 under the U.S. Securities Act of 1933, as amended, including sales made by the Canadian agent directly on the Canadian Securities Exchange or by any U.S. agent directly on Nasdaq Global Select Market, or any other recognized trading market for the offered shares in Canada and/or the United States. The offering will be in effect until the earliest of $50-million (U.S.) of offered shares are offered and sold, the expiry of the Canadian base shelf prospectus (as defined below) or the termination of the sales agreement in accordance with its terms.

The agents are not required to sell any specific number or dollar amount of offered shares but will use their commercially reasonable efforts to sell, on the company's behalf, all of the offered shares requested to be sold by the company. The company may instruct the agents not to sell offered shares if the sales cannot be achieved at or above the price designated by the company. There is no minimum amount of funds that must be raised under the offering. This means that the offering may terminate after only raising a small portion of the offering amount set out above, or none at all.

The Canadian Securities Exchange and Nasdaq have been notified of the offering.

The offering is being made concurrently in all provinces and territories in Canada under the terms of a prospectus supplement dated Jan. 2, 2026, to the company's base shelf prospectus dated Nov. 14, 2025, and in the United States under the terms of a prospectus supplement dated Jan. 2, 2026, to the company's base shelf prospectus dated Nov. 14, 2025, which is contained in the company's registration statement on Form F-10, as amended (file No. 333-291660), filed with and declared effective by the U.S. Securities and Exchange Commission. The Canadian prospectus supplement and the Canadian base shelf prospectus are available on the SEDAR+ website maintained by the Canadian Securities Administrators, and the U.S. prospectus supplement and the U.S. base shelf prospectus are available on the SEC's website.

Copies of the Canadian prospectus supplement and the accompanying Canadian base shelf prospectus relating to the offering of the offered shares may be obtained at no charge from Cantor Fitzgerald Canada Corp., attention: equity capital markets, 181 University Ave., Suite 1500, Toronto, Ont., M5H 3M7, or by e-mail at ecmcanada@cantor.com. Copies of the U.S. prospectus supplement and the accompanying U.S. base shelf prospectus relating to the offering of the offered shares may be obtained at no charge from Cantor Fitzgerald & Co., attention: capital markets, 110 East 59th St., sixth floor, New York, N.Y., 10022, or by e-mail at prospectus@cantor.com, or from Roth Capital Partners LLC, 888 San Clemente Dr., Suite 400, Newport Beach, Calif., 92660, or by telephone at 800-678-9147.

About Sol Strategies Inc.

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

We seek Safe Harbor.