Elysee Earns $1,930,241 ($0.07 per Share) During the Three Months Ended March 31, 2026

Vancouver, May 12, 2026 - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) (the "Company") is pleased to announce its unaudited financial results for the three months ended March 31, 2026 ("Q1 2026"). All dollar amounts are in Canadian funds.

Highlights from the Q1 2026 results include:

• Net income of $1,930,241 ($0.07 per share) in Q1 2026 as compared to $1,922,864 ($0.07 per share) in Q1 2025;
• Total investment income of $2,087,775 in Q1 2026 as compared to 2,124,739 in Q1 2025;
• Dividend paid of 2 cents per share;
• Net Asset Value ('NAV') per share increased to $0.81 per share as of March 31, 2026 from $0.76 per share on December 31, 2025; and
• Cash on hand as of March 31, 2026 of $ 6,584,108.

Selected Financial and Comparative Information:

During the first three months of 2026 Elysee's investment portfolio recorded a realized gain on marketable securities of $2,557,292 and interest and dividend income of $70,481, offset by an unrealized loss on securities of $543,120 and general and administrative expenses of $157,534.

Of note, interest expense during the period was reduced to $7,019 from $50,956 during Q1 2025 due to the early redemption of convertible debentures in Q4 2025. As a result, operating costs declined significantly compared to the same quarter of 2025.

Change in Net Asset Value per Share since December 31, 2023:

*Audited

Guido Cloetens, President and CEO of Elysee Development Corp. made the following statement:

"The first quarter of 2026 was another very profitable quarter for Elysee, with earnings of $1,930,241 ($0.07 per share). Despite paying a dividend of $0.02 per share in Q1 2026, NAV per share increased by $0.05 to $0.81 at the end of the period. Gains during the period were driven by significant M&A activity during the quarter related to companies in our portfolio. The most notable of which was the offer by Hudbay Minerals Inc. for Arizona Sonoran Copper, our largest equity investment by value, at a 30% premium to market."

During Q1 2026 the Company took profits by reducing its positions in Aclara Resources Inc., Amerigo Resources Ltd. and Oceanagold Corporation, among others.

Other notable M&A activity in our portfolio during the quarter included:

• Valaris Limited will merge with Transocean Ltd. on favorable terms;
• Solgold Plc was acquired by Jiangxi Copper Co Ltd;
• The assets of Lithium South Development Corp. will be sold to POSCO Argentina with the net proceeds to be distributed to the shareholders by way of a substantial issuer bid; and
• Lithium Chile Inc. announced its plans to sell a substantial part of its assets to a Chinese company for US$175 million, after which the company intends to distribute a portion of the net proceeds to its shareholders.

During late 2025 we increased our exposure to the Oil & Gas sector in North America. In addition we invested in a number of drilling and service companies. Subsequent to the quarter, one of these investments, Helix Energy Solutions, agreed to a combination with Hornbeck Offshore Services Inc., establishing a premier integrated offshore services company listed on the NYSE.

Outlook:

Q2 started on a positive note with our investments in Gold, Copper and Energy-equities performing well. There is currently an inverse correlation between the price of gold and the price of oil. Increasing our investments in the energy sector is a way to create a better balance in our portfolio.

With a current cash position of over $5.25 million, Elysee is well positioned to capitalize on attractive opportunities as they become available in the coming months.

Recently a significant investment was made in Greyridge Exploration Corp., a private company with an experienced managed team that is the largest foreign holder of gold and copper exploration rights in Saudi Arabia.

The most significant marketable equity investments on March 31, 2026 were Equinox Gold Corp., Agnico Eagle Mines Limited, Arizona Sonoran Copper Company Inc., DPM Metals Inc. and OceanaGold Corporation.

During the three months ended March 31, 2026 the Company purchased 95,000 of its shares pursuant to a Normal Course Issuer Bid. There were 28,246,859 shares outstanding at the end of the period.

For more information on these investments and others made during the period, please refer to the MD&A dated May 11, 2026 on SEDAR+ or on our website at www.elyseedevelopment.com.

On March 31, 2026, Elysee's net asset value ("NAV") was $0.81 per share compared to $0.76 on December 31, 2025. NAV is a non-GAAP (generally accepted accounting principles) measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. For the purpose of this calculation, share purchase warrants held by Elysee were valued using the Black-Scholes model calculation, as reported in our annual and quarterly financial statements. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP measure presented in Elysee's financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that NAV can provide information useful to its shareholders in understanding its performance and may assist in the evaluation of its business relative to that of its peers.

The Financial Statements and Management Discussion and Analysis are available for viewing on SEDAR+ and at www.elyseedevelopment.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297024