Follows recent announcement of Damon's $30 million Reg A+ offering to advance its personal mobility products and AI-enabled connected vehicle strategy at https://invest.damon.com

Vancouver, British Columbia--(Newsfile Corp. - November 14, 2025) - Damon Inc. (OTCID: DMNIF) ("Damon" or the "Company"), a designer and developer of electric motorcycles and other personal mobility products that seek to empower the personal mobility sector through innovation, today announced an operational business update and overview of its financial results for the quarter ended September 30, 2025.

FY 2026 First Quarter Accomplishments and Recent Highlights

• Launched its $30 million Regulation A+ equity offering. Net proceeds from the offering would be primarily used to further develop Damon's personal mobility products, including advancement of its HyperSport Race electric motorcycle program and AI-enabled cloud platform - Damon I/O - designed to power the next generation of personal mobility products and services.

• Completed the Hypersport Race Motorcyle (HSR) full scale clay master model. This achievement marked a key step toward prototype testing for the innovative electric motorcycle. The completion of the full-scale clay model was a critical phase in the vehicle's development, moving the Hypersport Race from a digital concept to a physical form.

• Announced that its Damon I/O platform was positioned to become one of the first in the personal mobility sector to adopt end-to-end encryption for all telematics data, both in transit and at rest. This move was designed to ensure that all ride logs, location histories, diagnostics, and user profiles were fully encrypted from the edge device to the cloud server, which enhanced cybersecurity protections for this sensitive data.

• Announced a new application of its Damon I/O platform, intended to deliver value to riders while creating potential new revenue streams for the Company. By combining Damon I/O's advanced data intelligence with AI-enabled interaction, track riders could benefit from a personalized performance companion designed to enhance their safety, experience, and skill development.

• Unveiled the next phase in the evolution of its Damon I/O platform with the introduction of an advanced machine learning module developed by Damon to be the cornerstone of its forthcoming Hypersport Race (HSR). This enhancement enabled dynamic performance tuning based on rider behavior, vehicle data, and environmental inputs, supporting Damon's vision to transform personal mobility through smart, AI-connected experiences.

• Completed its Engineering and Design Concept Development phases for its next-generation performance motorcycle, the HyperSport Race. Achievement of this key milestone marked the shift from visionary concepts to detailed engineering and refined design execution, advancing the project toward the concept validation and physical prototype development that commenced in September 2025.

• Featured in an exclusive WebBikeWorld article, offering investors and enthusiasts a closer look at the company's strategic direction, innovative technologies, and market positioning in the rapidly evolving electric mobility sector. In the interview, Dominique Kwong, CEO, discussed Damon's transition to an asset-light business model, the development of its anticipated HyperSport motorcycle, and the innovative Damon™ I/O platform.

Dominique Kwong, CEO of Damon commented:

"Looking back at our recent accomplishments, we believe the past several months have been foundational for Damon, marking significant progress across our hardware, software, and financial strategies. We successfully moved the HyperSport Race from a digital concept to a physical form with the completion of its full-scale clay master model. This was a critical achievement, representing the integration of our core technology asset, the Damon I/O platform, with its flagship hardware design.

"In parallel, we continued to advance the evolution of our Damon I/O platform, which is the cornerstone of our asset-light business model. We unveiled its advanced machine learning module, designed to enable dynamic performance tuning for a smarter and safer riding experience. We also reinforced our commitment to rider trust by positioning the platform to be one of the first in the sector to adopt end-to-end encryption, enhancing cybersecurity to ensure the safety and privacy of user data. Furthermore, we announced a new application for Damon I/O, a personalized performance companion designed to enhance rider experience and safety, demonstrating a potential path to creating new revenue streams while delivering tangible value."

"The launch of our $30 million Regulation A+ offering was also a key milestone that is intended to provide the resources to advance these programs. Each of these achievements was a deliberate step in executing our strategy to become a technology leader that powers the next generation of safer, smarter, and AI-connected personal mobility."

Financial Highlights

• Net loss for the quarter was approximately $3.3 million, or $0.17 per diluted share, compared to a net loss of $7.4 million, or $320 per diluted share, in the same period in the prior fiscal year.
• Total cash was $0.68 million at September 30, 2025, compared to $2.48 million at June 30, 2025.
• Total liabilities were $15.0 million at September 30, 2025, compared to $13.97 million at June 30, 2025.
• Stockholders' deficit was $13.2 million at September 30, 2025, compared to $9.9 million at June 30, 2025.
• Operating expenses for the quarter ended September 30, 2025 were approximately $2.9 million, compared to $1.9 million in the same period in the prior fiscal year.
• General and administrative expenses for the quarter ended September 30, 2025 were approximately $1.7 million, compared to $0.8 million in the same period in the prior fiscal year.

For more information about Damon's vision for a connected mobility future and to learn about the investment opportunity, please visit https://invest.damon.com/.

About Damon

Damon Inc. is a designer and developer of personal mobility products and technology solutions that integrate AI-enabled safety systems, smart electrification, and user-driven design to revolutionize sustainable transportation. Operating across four potential revenue verticals - Data Intelligence & Services, Engineering Services, Personal Mobility Products, and Special Projects - Damon believes it is positioned to capture a significant share of the $200B global two-wheeler market by 2032¹. The company distinguishes itself through its integrated ecosystem approach, combining advanced data analytics and engineering expertise, while seeking to enter into strategic partnerships with OEMs and Tier 1 suppliers. Damon emphasizes accessible mobility solutions while leveraging its proprietary AI-enabled safety systems and intelligent energy management technology to deliver superior performance and operational efficiency in the urban and business mobility space. For more information, please visit damon.com.

¹ Source Fortune Business Insights (2025)

IMPORTANT INFORMATION AND RISK DISCLOSURE

The Reg A+ offering will be made only by means of an offering statement. An offering statement on Form 1-A relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and has become qualified. The securities offered by Damon are highly speculative. Investing in such securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. For additional information on Damon, the offering and any other related topics, please review the offering statement, including the final offering circular that forms a part of the offering statement (the "Offering Statement"), that can be found on the Company's EDGAR profile at www.sec.gov/edgar. Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the section of the Offering Statement entitled "Risk Factors."

FORWARD LOOKING STATEMENTS
This press release, including any materials referenced herein, contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements") that reflect current expectations and projections of Damon Inc. ("Damon") about its future development. When used in this press release, forward-looking statements can be identified by the use of words such as "may," or by such words as "will," "intend," "believe," "estimate," "consider," "expect," "anticipate," and "objective" and similar expressions or variations of such words. Forward-looking statements in this press release include, but are not limited to, statements relating to the anticipated advancement of the HyperSport Race program and its development milestones; the expected benefits and timing of the Company's Regulation A+ offering; the Company's expectations regarding the capabilities, features, and potential adoption of the Damon I/O platform and related AI-enabled technologies; the prospective integration of the Damon I/O system with the Company's hardware design; the continued execution of the Company's asset-light business model; and the Company's plans and expectations for new or expanded revenue verticals and related business opportunities. Forward-looking statements are, by their nature, not guarantees of Damon's future operational or financial performance and are subject to risks and uncertainties and other factors that could cause Damon's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. No representation or warranty is intended with respect to anticipated future results, or that estimates, or projections will be sustained.

In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which Damon operates, and general market conditions. Many risks, uncertainties, and other factors could cause the actual results of Damon to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, our history of losses, our ability to implement our growth strategy, generate revenue and achieve profitability, our limited operating history with recent acquisitions, our ability to obtain adequate financing as needed, our ability to continue as a going concern, our status as a foreign private issuer, impact of our prior delisting from Nasdaq, our ability to establish and sustain an active trading market on an over-the-counter market maintained by OTC Markets Group Inc., customer demand for or acceptance of our products and services, our ability to enter into strategic partnerships with OEMs and Tier 1 suppliers, the impact of competitive or alternative products, technologies, and pricing, emerging competition and rapidly advancing technology that may outpace our own, our ability to develop, manufacture or distribute products and services and secure strategic supply, manufacturing, licensing and distribution arrangements, our ability to protect our intellectual property, our ability to protect user data and user information, impact of any changes in existing or future regulatory and tax regimes applying to our business, our ability to successfully consummate strategic transactions and integrate companies or technologies we acquire, our ability to attract and retain management and employees with specialized knowledge and technical skills, our ability to develop and maintain effective internal controls, general economic conditions and events and the impact they may have on us and our customers, including but not limited to escalating tariff and non-tariff trade measures imposed by the United States and other countries, increases in inflation rates and rates of interest, supply chain challenges, increased costs for materials and labor, cybersecurity threats, and conflicts such as those in Russia/Ukraine, Israel/Hamas and Iran, our success at managing the risks involved in the foregoing items, and other risk factors discussed in our periodic and current reports and registration statements filed with the U.S. Securities and Exchange Commission and the British Columbia Securities Commission.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, events may differ materially from current expectations. Damon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required pursuant to applicable securities law. All forward-looking statements contained in the press release are expressly qualified in their entirety by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274443