Sol talks up one-year anniversary of pivot to solana

Mr. John Ragozzino reports SOL STRATEGIES CELEBRATES ONE-YEAR ANNIVERSARY OF TRANSFORMATION TO A SOLANA DAT++ Sol Strategies Inc. has marked the one-year anniversary of its strategic transformation from a bitcoin holding company to North America's first publicly traded enterprise dedicated to the solana ecosystem. The transformation has delivered shareholder value while establishing new categories of institutional blockchain participation through the company's DAT++ model. "Twelve months ago, we didn't just pivot our strategy, we developed an entirely new business model within the digital asset treasury space," said chief executive officer Leah Wald. "Our DAT++ approach combines traditional treasury holdings with infrastructure-driven validator revenues, creating dual revenue engines that compound growth. What makes this transformation remarkable is that we've built this comprehensive operation from essentially a blank canvas, assembling a world-class team while achieving a Nasdaq cross-listing." Financial performance milestones Treasury growth: Solana treasury expanded from $0 SOL holdings as of March 31, 2024, to $144-million, holding 435,064 SOL tokens with total assets reaching $164-million. Profitability achievement: Achieved $800,000 adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in Q3 2025, demonstrating the effectiveness of the DAT++ model's dual revenue approach. Financial data available on the company's SEDAR+ profile and investor relations page, see page 16 of the company's management discussion and analysis for the three and nine months ended June 30, 2025. The DAT++ competitive advantage Developed the DAT++ approach, combining digital asset treasury holdings with validator infrastructure operations to create dual revenue streams that compound growth at nearly double traditional staking-only models. Operational milestones Validator network: Operates over $1.24-billion in delegated SOL across five validators, managing 3.73 million SOL tokens with over 12,000 unique staking participants. Source: Delegated SOL valuations calculated using SOL equals $332 as of 11:30 a.m. ET Sept. 12, 2025. Technology leadership: One of the first validators running Firedancer, launched the first native solana staking mobile app, developed multiple open-source packages adopted across the solana ecosystem and created Dune dashboard reporting enabling daily investor tracking. Compliance leadership: Completed SOC1 Type 1, SOC 2 Type 1 and ISO 27001 audits, establishing enterprise grade institutional compliance standards that enable enterprise adoption. Nasdaq listing: Achieved cross-listing on the Nasdaq Global Select Market under ticker STKE on Sept. 9, 2025, becoming the first solana-focused company to reach this milestone. Strategic partnerships Selected by ARK Invest as exclusive solana staking provider for their digital asset revolutions fund. Established strategic partnerships with Neptune Digital Assets (Canadian Securities Exchange: NDA) and integration with BitGo's institutional custody platform. Secured $500-million (U.S.) convertible note facility with ATW Partners, $25-million facility from former Chairman Antanas Guoga and a $30-million financing from ParaFi Capital. Filed a preliminary shelf prospectus in Canada providing flexibility for future growth initiatives. Strategic acquisitions and growth Executed three strategic acquisitions, Cogent, Orangefin and Laine's validator network, that helped transform the company into the vertically integrated solana infrastructure operation it is today. The acquisition of Laine's validator network specifically doubled the company's staked SOL assets, while the collective integration of all three businesses established the scalable platform that now serves prominent ecosystem participants including Neptune Digital Assets, Pudgy Penguins and Solana Mobile. "This transformation demonstrates the viability of the DAT++ model in public markets," added Ms. Wald. "We've proven that combining treasury holdings with infrastructure revenue creates sustainable competitive advantages. We continue to be excited as the solana ecosystem experiences unprecedented adoption." 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.