On August 1, 2019, the Company entered in a business services agreement (the “Agreement”) with Business Instincts Group (“BIG”), a company that Cameron Chell, CEO and director has a material interest in that he previously controlled, to provide: corporate development and governance, strategic facilitation and management, general business services, office space, corporate business development video content, website redesign and management, and online visibility management. The services are provided by a team of consultants and the costs of all charges are based on the fees set in the Agreement. For the three months ended March 31, 2025, the Company incurred fees of $93,283 (2024 - $60,000). As at March 31, 2025, the Company was indebted to this company in the amount of $9,524 (2024 - $nil).

On October 1, 2019, the Company entered into an independent consultant agreement (“Consultant Agreement”) with 1502372 Alberta Ltd, a company controlled by Cameron Chell, CEO and director, to provide executive consulting services to the Company. The costs of all charges are based on the fees set in the Consultant Agreement. For the three months ended March 31, 2025, the Company incurred fees of $104,226 (2024 - $106,250). As at March 31, 2025, the Company was indebted to this company in the amount of $nil (2024 - $nil).

On July 3, 2020, the Company entered into an executive consultant agreement (“Executive Agreement”) with Scott Larson, a director of the Company, to provide executive consulting services, as President, to the Company. On May 9, 2022, Scott Larson ceased to be President of the Company and entered into an agreement to provide executive consulting services to the Company and all fees are set in the consulting agreement. For the three months ended March 31, 2025, the Company incurred fees of $2,861 (2024 - $40,433). As at March 31, 2025, the Company was indebted to this company in the amount of $13,300 (2024 - $nil).

Trade receivables/payables and accrued receivables/payables:

As at March 31, 2025, the Company had $155,475 (2024 - $298,100) payable to related parties that was included in accounts payable. The balances outstanding are unsecured, non-interest bearing and due on demand.

Key management compensation

Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. Compensation awarded to key management for the three months ended March 31, 2025 and 2024 included:

 SCHEDULE OF KEY COMPENSATION AWARDS

Other related party transactions

 SCHEDULE OF KEY MANAGEMENT TRANSACTIONS

Draganfly Inc.

Notes to the Condensed Consolidated Interim Financial Statements

For the Three Months Ended March 31, 2025

Expressed in Canadian Dollars (unaudited)