Dynacor’s Largest Shareholder Mails Dissident Circular, Urges Votes on the BLUE Proxy to Save Dynacor

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FREIENBACH, Switzerland — iolite Partners Ltd. (“iolite” or the “Concerned Shareholder”), the largest shareholder of Dynacor Group Inc. (TSX: DNG) (“Dynacor” or the “Company”), with an approximately 7% interest, today announced that it has filed and will commence mailing a Dissident Circular (the “Circular”) to shareholders in connection with Dynacor’s upcoming Annual General Meeting of Shareholders scheduled to be held on June 19, 2026 (the “Meeting”). iolite will also be providing a BLUE Form of Proxy and BLUE Voting Instruction Form (the “ BLUE Proxy”) to solicit votes from shareholders of Dynacor. The Circular, shareholder letter and other materials outlining why this Board is a risk to the Company can be accessed at www.SaveDynacor.com.

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iolite recommends that shareholders ONLY Vote on the BLUE Proxy ‘WITHHOLD’ on the election of certain incumbent directors of Dynacor, namely Jean Martineau, Pierre Beliveau, Rocio Rodriguez-Perrot, Isabelle Rocha, Réjean Gourde (the “Withhold Group”) and ‘AGAINST’ the stock option plan (“iolite’s Voting Recommendations”).

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Since last year’s capital raise, shareholders were told a story of growth and expansion. The reality, at the Corporation’s only cash-generating asset, was the opposite: a sweeping internal overhaul that was never explained, an opaque external investigation that was never properly disclosed, and renewed turmoil that arrived days after the Board assured the market of “stabilization.” And to this day, the Board uses shareholders’ own money to resist transparency and accountability — then laments the cost of it all, as it did again in yesterday’s press release titled “Setting the Record Straight”. Those costs are not of iolite’s making; they are the price of a Board that has chosen, at every turn, to defend itself rather than answer to its owners.

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Yesterday, the Board had its opportunity to respond. In iolite’s view, what followed was telling — not for what it said, but for what it did not. It addressed none of the concerns iolite has raised. No explanation. No accountability. No answers. Just “trust us”. iolite believes the most revealing answer this Board has given is the one it has chosen not to give at all.

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“We are disappointed it has come to this. But our concerns remain unaddressed, and so we are bringing them directly to shareholders,”

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said Robert Leitz, on behalf of iolite Partners Ltd.

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“This campaign is funded personally and undertaken for the benefit of all shareholders — one of the few accountability mechanisms left when a Board chooses entrenchment over answers.”

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Mr. Leitz added: “Dynacor has enormous potential. What it lacks today is the leadership to unlock it. Shareholders have already missed the upside of a thriving gold market as a result.We are asking for a genuinely independent review, with a report we can actually read, and a Board that respects our capital and works for us. Instead, this Board has chosen to repeatedly attack the Company’s largest shareholder rather than answer a single legitimate question. It would not even seat its own incoming CEO on the Board, as respected peers routinely do — telling shareholders, yet again, that this is about entrenchment and self-preservation, not change.”Why Should Shareholders Support iolite’s Campaign? iolite believes shareholders should support its campaign for five principal reasons:

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