FORM 51-102F3
MATERIAL CHANGE REPORT
| ITEM 1 | Name and Address of Company: |
DeFi Technologies Inc. (“DeFi” or the “Company”)
333 Bay Street,
Suite 2400,
Toronto, ON M5H 2T6
| ITEM 2 | Date of Material Change: |
December 22, 2025
| ITEM 3 | News Release: |
A news release was issued by the Company on December 22, 2025, and subsequently filed on SEDAR+.
| ITEM 4 | Summary of Material Change: |
The Company announces that effective as of December 22, 2025, Stefan Hascoet has resigned from the board of directors of the Company.
| ITEM 5 | Full Description of Material Change: |
On December 22 2025, the Company announced that Stefan Hascoet has resigned from the board of directors of the Company.
| ITEM 6 | Reliance on subsection 7.1(2) or (3) of National Instrument 51-102: |
Not applicable.
| ITEM 7 | Omitted Information: |
Not applicable.
| ITEM 8 | Executive Officer: |
Johan
Wattenstrom
Chief Executive Officer
ir@defi.tech
| ITEM 9 | Date of Report: |
December 22, 2025