<div id="readability-page-1"><div>(TheNewswire)Vancouver, BC – February 10, 2026– TheNewswire - Pegasus Mercantile Inc. (Frankfurt: U040) (“Pegasus” or the “Company”) today provides adefault status update further to the Company's announcement on February 4 of its FFCTO pertaining to the delay of the filing of its annual financial statements, As previously reported, the British Columbia Securities Commission (&#34;BCSC&#34;) issued a Failure-to-File Cease Trade Order (&#34;FFCTO&#34;) dated February 4, 2026, due to the Company not being able to file its annual financial statements and management's discussion and analysis (&#34;MD&amp;A&#34;) for the year ended September 30, 2025 on SEDAR by January 28, 2026. Further, as a result of the FFCTO, the Canadian Securities Exchange suspended trading in the Company's shares. The FFCTO will remain in place until such time as the Annual Financial Filings and all continuous disclosure requirements have been satisfied and the Company receives an order from the BCSC revoking the FFCTO. The Company's management, together with its audit committee, has been working diligently with its auditor to provide all necessary information and complete the Required Documents to release the Annual Financial Filings. The Company intends to continue to issue weekly default status reports. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed. Management is reviewing due diligence materials for letters of intent already in the pipeline. <div> About Pegasus Mercantile:</div> Pegasus is a prospect generator that provides high growth companies with financial, operational, and management assistance. The Company has expanded and is entering a new phase of diversification. The focus of the Company has been on global wellness, psychedelics, mycology, hemp and CBD, healthcare-related target companies and their clinical studies and trials. For further information visit website: www.pegasusmercantile.com Contact Meris Kott CEO (561) 212-3323 info@pegasusmercantile.com Further information about the Company is available onwww.SEDARplus.com under the Company’s profile.Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release. Forward-Looking Statements Certain statements contained in thispress release may constitute forward-looking information. Thesestatements relate to future events or future performance. The use ofany of the words &#34;could&#34;, &#34;intend&#34;,&#34;expect&#34;, &#34;believe&#34;, &#34;will&#34;,&#34;projected&#34;, &#34;estimated&#34;, &#34;proposed&#34; andsimilar expressions and statements relating to matters that are nothistorical facts are intended to identify forward-looking informationand are based on the Company's current belief or assumptions asto the outcome and timing of such future events. In particular, thisrelease contains forward-looking information relating tothe,Company’s ability tocure its filing default and the expected timing of the revocation ofthe FFCTO. Such forward-looking information issubject to risks and uncertainties that may cause actual results,performance or developments to differ materially from those containedin the statements, including the risk that the Company may not cureits default in a timely manner. The forward-looking informationcontained in this release is made as of the date hereof and theCompany is not obligated to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, except as required by applicable securities laws. Becauseof the risks, uncertainties and assumptions contained herein,investors should not place undue reliance on forward-lookinginformation. The foregoing statements expressly qualify anyforward-looking information contained herein.Copyright (c) 2026 TheNewswire - All rights reserved.</div></div>

SPEG

Pegasus Mercantile Inc. has provided a status update regarding its Failure-to-File Cease Trade Order (FFCTO) issued by the British Columbia Securities Commission due to delays in filing its annual financial statements. Trading of the company's shares has been suspended until the required filings are completed. The company is working with its auditor to resolve the issue and will issue weekly updates. Pegasus focuses on sectors such as global wellness and healthcare-related companies. Forward-looking statements regarding the company's ability to cure its filing default are included, highlighting associated risks.

Pegasus Mercantile FFCTO Status Update