NorthStrive Defense Tech Executes Definitive Exclusive License Agreement with Florida State University Research Foundation for Multi-Domain Drone Payload Technology Across Defense, Aerospace and Maritime Applications

• Definitive license agreement formalizes exclusive, worldwide, sublicensable rights to patented multi-domain drone payload technology for aerospace and defense applications
• Agreement follows the binding term sheet and sponsored research agreement announced earlier this year
• License covers U.S. Patent No. 12,291,334 and related know-how, with a multi-year development plan targeting prototype completion, non-dilutive funding applications, and first commercial sale

NEWPORT BEACH, Calif., July 13, 2026 (GLOBE NEWSWIRE) -- NorthStrive Defense Tech LLC ("NorthStrive Defense Tech"), a wholly owned subsidiary of PMGC Holdings Inc. (the "Company") (NASDAQ:ELAB) formed to license and commercialize defense technologies, starting with technology developed at Florida State University ("FSU"), today announced that it has executed a definitive Standard Exclusive License Agreement with Know-How (the "License Agreement") with the Florida State University Research Foundation ("FSURF"), a not-for-profit corporation and direct support organization of Florida State University, for certain patent rights and related know-how covering a novel multi-domain drone payload technology.

The definitive License Agreement follows the parties’ exclusive option agreement announced on April 6, 2026 and binding term sheet announced on June 8, 2026, advancing the arrangement to a definitive, executed license.

Licensed U.S. Patent No. 12,291,334 covers a next-generation drone system designed to transport payloads across air and water environments. The technology enables an aerial vehicle to autonomously transport a cable-suspended payload through water while maintaining flight above the surface, leveraging buoyancy-assisted transport to potentially improve payload efficiency compared to traditional air-only drone systems.

Aligned With Rising Defense Demand for Multi-Domain Unmanned Systems

NorthStrive Defense Tech believes the licensed technology has potential real-world applications in defense and dual-use environments where unmanned systems are increasingly being developed to operate across maritime, aerial, and payload-delivery missions. Recent public news and reporting has highlighted this growing need, including coverage of the United States, United Kingdom, and Australia advancing underwater drone technologies through the AUKUS defense partnership, and reporting on the U.S. Navy’s pursuit of unmanned surface vessels capable of carrying large payloads over long distances in support of manned warships.^{1, 2} NorthStrive Defense Tech believes these developments underscore a broader defense-market shift toward multi-domain unmanned platforms, maritime autonomy, and mission-flexible systems that can operate in complex air and water environments.

Under the License Agreement, NorthStrive Defense Tech has obtained an exclusive, worldwide, sublicensable license within the aerospace and defense technologies field to make, have made, use, sell, have sold, sublicense, and import licensed products covered by U.S. Patent No. 12,291,334 and associated know-how. As the exclusive licensee, NorthStrive Defense Tech serves as the single point of access for defense and dual-use development, integration, and sublicensing of the technology.

Key terms of the License Agreement include:

• Licensed Rights: U.S. Patent No. 12,291,334 and related know-how, including software, methods, data, and algorithms related to the control and navigation of the multi-domain parcel transportation system
• Field of Use: Aerospace and defense technologies
• Territory: Worldwide
• Exclusivity: Exclusive (patent rights); non-exclusive (know-how)
• Sublicensing Rights: Yes
• License Term: Life of the patent, with the license becoming perpetual and fully paid-up following expiration of the applicable royalty term
• Financial Terms: Customary license fees, annual maintenance fees, earned royalties on net sales, minimum annual royalties, and sublicensing revenue payments, as further described in the License Agreement
• Development Obligations: Commercially reasonable development efforts under a multi-year development plan, including making a working prototype, submitting non-dilutive funding applications, achieving first commercial sale, establishing manufacturing capability, and reaching cumulative net sales milestones

The License Agreement also includes customary provisions regarding diligence milestones, reporting obligations, indemnification, insurance, confidentiality, and dispute resolution.

Sponsored Research to Advance a Working Prototype

In connection with the license, NorthStrive Defense Tech previously entered into a sponsored research agreement with FSURF to fund and collaborate on additional research and development activities intended to advance the technology toward a working prototype and potential commercial-grade units. That sponsored research program remains ongoing.

NorthStrive Defense Tech cannot provide any assurances on the commercial success of this technology. NorthStrive Defense Tech was formed to license and commercialize the FSU technology while also pursuing additional strategic investments in, and acquisitions of, complementary technologies, assets and companies. The Company intends to continue evaluating opportunities to expand its portfolio of aerospace, defense, autonomous systems, and dual-use technologies through licensing, acquisition, sponsored research, and strategic collaboration.

NorthStrive Defense Tech’s entry into the License Agreement was disclosed in the Company’s Current Report on Form 8-K filed with the United States Securities and Exchange Commission ("SEC") on July 7, 2026. A copy of the License Agreement was included as an exhibit therein.

About NorthStrive Defense Tech LLC

NorthStrive Defense Tech LLC is a wholly owned subsidiary of PMGC Holdings Inc. focused on identifying, acquiring, licensing, developing, and commercializing advanced defense technologies, with an emphasis on drone, autonomous systems, aerospace, and dual-use applications.

About PMGC Holdings Inc.

PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit www.pmgcholdings.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "believes," "expects," "plans," "potential," "would" and "future" or similar expressions such as "look forward" are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC’s filings with the SEC, including the "Risk Factors" section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 30, 2026, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

IR Contact: IR@pmgcholdings.com

The Company and NorthStrive Defense Tech undertake no obligation to update any forward-looking statements, except as required by law.

References

^{1. BBC News — US, UK and Australia to develop underwater drone technology. Reports the AUKUS Pillar Two program to develop uncrewed undersea vehicle (UUV) technology to help protect undersea cables and seabed infrastructure. Cited as third-party market context only; NorthStrive Defense Tech is not a participant in AUKUS. Source: https://www.bbc.com/news/articles/c5y8wjvd1ypo}

^{2. USNI News — Navy Seeks New Fast Attack Surface Drone Design, July 28, 2025. Supports U.S. Navy demand for unmanned surface vessels capable of carrying large payloads over long distances in support of manned warships. Source: https://news.usni.org/2025/07/28/navy-seeks-new-fast-attack-surface-drone-design}