SPARC AI Appoints Matt Mccrann as U.S. CEO

(TheNewswire)

Vancouver, Canada – TheNewswire - March 2, 2026 — SPARC AI Inc. (the “Company”) (CSE: SPAI) (OTCQB: SPAIF) (Frankfurt:5OV0), developer of the Overwatch GPS-denied navigation and targetingplatform, today announced the appointment of Matt McCrann as ChiefExecutive Officer of its U.S. subsidiary.

McCrann will lead SPARC AI’s North Americanexpansion, establishing the Company’s operational presence anddeepening engagement with U.S. defense, federal, and allied governmentcustomers. The appointment advances SPARC AI’s strategy to scale inthe world’s largest defense market amid growing demand for resilientnavigation and targeting capability in contested environments.

McCrann brings extensive experience building defensetechnology operations in the United States. He previously served asChief Executive Officer of DroneShield’s U.S. subsidiary, where heestablished and expanded U.S. operations during a period ofsignificant revenue growth and scaling across federalcustomers.

As U.S. CEO, McCrann will focus on converting SPARCAI’s geolocation intelligence technology into deployable capability.His mandate includes building the U.S. team and operatinginfrastructure; advancing field evaluations and pilot programs;aligning with active procurement pathways; and forming strategicpartnerships with defense primes and system integrators to supportadoption of the Overwatch platform across air, land, and maritimedomains.

Anoosh Manzoori, Chief Executive Officer of SPARC AI,said:

“Matt’s appointment represents a significant stepforward in SPARC AI’s strategy to expand its U.S. presence,strengthen customer proximity, and accelerate commercial outcomes inthe world’s largest defense market.”

Matt McCrann, U.S. CEO, said:

“GPS can no longer be assumed in modern operations.Position assurance in contested environments is becoming foundationalacross unmanned systems, edge devices, navigation, tracking, andtargeting systems. SPARC’s software-driven approach enables highlyaccurate geolocation using sensors already embedded within theseplatforms — without additional hardware — making resilientpositioning scalable across fleets and integrated systems. Our focusis to embed this as dependable infrastructure that strengthens missioneffectiveness across domains.”

SPARC AI’s Overwatch platform enables accuratepositioning and targeting in GPS-contested and denied environments. Asautonomous and integrated systems scale across domains, demand forresilient, software-enabled position assurance infrastructurecontinues to grow across U.S. and allied defense programs.

In connection with his appointment, the Company hasgranted McCrann stock options pursuant to its stock option plan asfollows:

1. i.500,000 options: 125,000options vest quarterly for first 12-month service;  

2. ii.1,000,000 options vests when$1M in cash collected and $2M+ in qualified pipeline or other mutualagreement, for first 18-month service; 

3. iii.If there is a change ofcontrol all options would vest immediately; and 

4. iv.All options expire March 2,2029, and have an exercise price of C$1.50 per share. 

SPARC AI is also issuing performance-based options tomembers of its Australian management team engaged in domestic defencebusiness development, recognising the critical role they play inbuilding SPARC AI's position within the Australian defencemarket. The Company has granted Greg Daly and Adam Worsley each150,000 options with an exercise price of C$1.50 and expire on March2, 2029.

Greg Daly is a strategic Defence/National Securityleader with 30+ years’ experience, including commandingAustralia’s SAS and leading multi-disciplinary teams with U.S. SOCOMand NATO.

Adam Worsley boasts a distinguished 20-year militarycareer, during which he integrated offensive support capabilities andadvanced technologies throughout deployments in East Timor andAfghanistan. He has also served as an instructor in both Australia andthe United States, imparting technical and operationalexpertise.

About SPARC AI Inc.

SPARC AI is a defence technology company solving one of the mostcritical challenges in modern autonomous systems: accurate navigationand targeting when GPS is unavailable. The company's AI-poweredplatform transforms the low-cost inertial sensors already insidecommercial drones into precision instruments without additionalhardware, external signals, or complex integration. SPARC AI'ssoftware-only approach makes GPS-denied capability for targetacquisition and navigation accessible at the price point and scalethat modern drone operations demand, from single platforms to fleetsof thousands.

For further informationcontact:

Anoosh Manzoori, Chief Executive Officer

SPARC AI Inc.

E-mail: anoosh@sparcai.net
Web : http://www.sparcai.co

Tel: (213) 459-3994

Cautionary StatementRegarding Forward-Looking Statements

This news release contains “forward-lookingstatements” or “forward-looking information” (collectively,“forward-looking statements”) within the meaning of applicablesecurities legislation. All statements, other than statements ofhistorical fact, are forward-looking statements and are based onexpectations, estimates and projections as of the date of this newsrelease. Forward-looking statements include, but are not limited to,statements regarding: the intended use of proceeds from the Offering.

Forward-looking statements are subject to a variety ofknown and unknown risks, uncertainties and other factors that couldcause actual events or results to differ from those expressed orimplied by forward-looking statements contained herein. There can beno assurance that such statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Certain important factors that couldcause actual results, performance or achievements to differ materiallyfrom those in the forward-looking statements are highlighted in the“Risks and Uncertainties” in the Company’s management discussionand analysis.

Forward-looking statements are based upon a number ofestimates and assumptions that, while considered reasonable by theCompany at this time, are inherently subject to significant business, economic and competitive uncertaintiesand contingencies that may cause the Company’s actual financialresults, performance, or achievements to be materially different fromthose expressed or implied herein. Some of the material factors orassumptions used to develop forward-looking statements include,without limitation: the failure to complete the Offering; reliance onkey management and other personnel; potential downturns in economicconditions; competition from others; market factors, including futuredemand products developed by the Company; the policies and actions offoreign governments, which could impact the ability of the Company tosuccessfully market its products; the Company’s expectations inconnection with the development of the Target Acquisition System; theeffectiveness of the Target Acquisition System; changes in nationaland local government legislation, taxation, controls or regulationsand/or changes in the administration or laws, policies and practices;the impact of general business and economic conditions; currency exchangerates; and the impact of inflation.

The forward-looking statements contained in this newsrelease are expressly qualified by this cautionary statement. Anyforward-looking statements and the assumptions made with respectthereto are made as of the date of this news release and, accordingly,are subject to change after such date. The Company disclaims anyobligation to update any forward-looking statements, whether as aresult of new information, future events or otherwise, except as maybe required by applicable securities laws. There can be no assurancethat forward-looking statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements.

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