PLAID TECHNOLOGIES INC. — Share Issue/Capital Change 2025

Dec 20, 2025

Form 51-102F3
Material Change Report

Item 1
Name and Address of Company
Plaid Technologies Inc. (the “Issuer”)
6th Floor, 905 West Pender Street
Vancouver, BC V6C 1L6

Item 2
Date of Material Change
December 19, 2025

Item 3
News Release
A news release disclosing the material change was disseminated on December 19, 2025 (the “News Release”) through the facilities of The Newswire and subsequently filed on the System for Electronic Document Analysis and Retrieval at www.sedarplus.ca (“SEDAR+”).

Item 4
Summary of Material Change
The Issuer announced the grant of 4,975,000 stock options (the “Options”) to certain directors, officers, and consultants of the Issuers (the “Eligible Persons”).

Item 5
Full Description of Material Change

Item 5.1
Full Description of Material Change
The Issuer announced the grant of 4,975,000 Options to purchase up to 4,975,000 common shares (the “Shares”) to certain Eligible Persons, pursuant to its long-term incentive plan, which was ratified and approved by the Company’s shareholders at the meeting held on October 30, 2025.

Each Option is exercisable at a price of $0.30 per Share for a period of four (4) years from the date of grant, and vest quarterly over a period of twelve (12) months.

Any Shares issued upon exercise of the Options will be subject to a four month hold period from the date of grant in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

Item 5.2
Disclosure for Restructuring Transactions
Not applicable.

Item 6
Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.

Item 7
Omitted Information

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Not applicable.

2

Item 8 Executive Officer
Guy Bourgeois, Chief Executive
Officer Telephone: 604-687-2038

Item 9 Date of Report
December 19, 2025