27 August 2026

Cykel AI PLC

(formerly DeFi Development Corporation UK PLC)

("Cykel" or the "Company")

Appointment of Non-Executive Director

Cykel (LSE: CYKL), a Main Market listed company which offers an AI agent platform that enables businesses to automate tasks through the use of specialised digital workers for sales, recruitment and research, is pleased to announce the appointment of Michael Callas as a Non-Executive Director of the Company with immediate effect.

Mr Callas is an entrepreneur, investor, technology executive, board director and former professional operatic baritone. He has more than 15 years of leadership and strategic advisory experience across fintech, digital banking, telecommunications, artificial intelligence, venture creation and public companies in North America, Europe, Asia and Africa.  

Mr Callas currently serves as the CEO and Managing Director of Fractal Dynamics s.r.o., a Director and member of the Audit Committee of Noveris Health Sciences Inc. (CSE: NVRS), and a Director of Engrenage s.r.o. His executive career includes senior leadership roles with Talenthouse AG, Vacuumlabs Group, EY and Vodafone Group, as well as serving as the CEO of StepOne Ventures. His work has included mobile financial services, digital-bank creation, embedded finance, applied AI, innovation portfolios, venture development and the international scaling of regulated technology platforms.

Strategy Update

As announced on 29 June 2026, the Company reverted to its previous name, Cykel AI PLC, to better reflect its core business and strategic focus within the artificial intelligence sector. Although the Company adopted the name DeFi Development Corporation PLC earlier this year following the launch of its Solana-focused digital asset treasury strategy, it has continued throughout that period to develop and operate its AI agent platform.

Following a review of the Company's strategic priorities and prevailing market conditions, the Board has determined that the Company will cease pursuing its cryptocurrency treasury strategy and will focus its resources on the continued development, commercialisation and growth of its AI platform and broader artificial intelligence operations.

Company website: https://www.cykel.ai/

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