Press Release: PRINCIPAL TECHNOLOGIES ANNOUNCES DEBT SETTLEMENT TRANSACTION

VANCOUVER, BC, Oct. 7, 2026 /CNW/ -- Principal Technologies Inc. (TSXV: PTEC) (FWB: JO7) (the "Company" or "Principal") announces that it has entered into debt settlement agreements with certain creditors to settle an aggregate of CAD $534,467.00 in outstanding debt through the issuance of an aggregate of 1,068,934 common shares of the Company (the "Debt Settlement Shares") at a deemed value of $0.50 per Debt Settlement Share (the "Debt Settlement Transactions"). Pursuant to the Debt Settlement Transactions, the Company has agreed to settle an aggregate of $118,025.00 owing to an arm's-length creditor for technical services provided, and $416,442.00 in debt owing to a non-arm's-length creditor for corporate consulting services provided. The Debt Settlement Shares to be issued pursuant to the Debt Settlement Transactions will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation. The Debt Settlement Transactions are subject to customary closing conditions and approvals, including acceptance by the TSX Venture Exchange. Related Party Participation in the Debt Settlement Transactions Dr. Leopold Specht,