DevvStream To Issue Up To $300M In Convertible Notes To Fund Blockchain-Based Treasury And Tokenized Sustainability Platform

DevvStream Corp. (NASDAQ:DEVS) ("DevvStream" or the "Company"), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced that it has entered into a securities purchase agreement for the issuance of up to (US)$300 million in senior secured convertible notes ("Senior Notes"), advancing its strategic initiative to build a blockchain-based treasury and launch a tokenization platform for sustainability-linked infrastructure.

The securities purchase agreement provides for the issuance of up to (US)$300 million in Senior Notes with Helena Partners, which issuances will be funded in multiple tranches. An initial funding of (US)$10 million was completed on July 18, 2025.

Key Highlights:

• Under the agreement, DevvStream will allocate 75% of the net proceeds (70% of the initial tranche) toward the purchase of liquid digital assets that offer 24/7 liquidity, serve as non-correlated stores of value, and may be used as collateral for future credit facilities.
• This program complements DevvStream's core business of developing, acquiring, and monetizing environmental assets in coordination with its objective to expand investor access to tokenized sustainability infrastructure. The Company is also actively exploring the tokenization of its existing environmental asset portfolio and anticipates further announcements as its platform scales.
• Additionally, the strategy is expected to provide opportunities to generate multiple revenue streams, including staking yields, while reducing reliance on equity financing through crypto-backed credit options.
• The notes may be converted by the holder into the Company's Common Shares at an initial conversion price equal to 200% of the closing price of the Company's Common Shares on the trading day immediately prior to the closing date, subject to potential downward adjustment as provided for in the notes.