Artificial Intelligence Technology Solutions Inc. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Each issuance of securities was issued without registration in reliance of the exemption from registration Section 3(a)9 of the Securities Act of 1933. Date Transaction Consideration Shares Issued Number of shares outstanding March 1, 2026 267,872,804 March 9, 2026 Debt exchange* $224,000 in accrued interest exchanged for common shares at a fair value of $280,000 for a loss on settlement of debt of $56,000 7,000,000 March 12, 2026 Common share issuance Rounding shares on reverse split 43 March 19,2026 Series C share issuance* Issuance of 222 Series C Convertible Preferred including 22 Series C share Commitment fee for proceeds of $200,000 — March 19,2026 Conversion of Series C Preferred Shares* Conversion of 165 Series C shares for fair value of $216,810 13,550,625 March 20,2026 Debt exchange* $112,000 in accrued interest exchanged for common shares at a fair value of $630,700 for a loss on settlement of debt of $518,700 7,000,000 March 25,2026 Convertible debt issuance* $110,000 Convertible note that converts after 180 days at 80% of the lowest traded price 15 prior trading days — March 25, 2026 Convertible debt issuance* $630,000 Convertible note that converts after 180 days with penalty at 20% of the lowest traded price 15 prior trading days. This loan was repaid May 5, 2026. — March 25, 2026 Common share issuance* Commitment fee returnable to the Company as $630,00 debt was repaid on May 5, 2025 14,100,000 April 9, 2026 Convertible debt issuance* $257,000 Convertible note that converts after 180 days at 65% of the average of the three lowest traded prices 10 prior trading days — April 20, 2026 Convertible debt issuance* $277,778 Convertible note that converts at 75% of the lowest traded prices 10 prior trading days — April 20, 2026 Common share issuance* Commitment fee on April 20 ,2026 convertible note 5,000,000 May 1, 2026 Convertible debt issuance* $257,000 Convertible note that converts after 180 days at 65% of the average of the three lowest traded prices 10 prior trading days — - 43 - Table of Contents April 27, 2026 Debt exchange* $185,600 in accrued interest exchanged for common shares at a fair value of $220,800 for a loss on settlement of debt of $35,200 8,000,000 May 4, 2026 Convertible debt issuance* $700,000 Convertible note that converts at 65% of the lowest closing bid prices 10 prior trading days — May 4, 2026 Common share issuance* Commitment fee issuable on May 4 ,2026 convertible note (2) 1,250,000 May 5, 2026 Debt exchange* $80,000 in accrued interest exchanged for common shares at a fair value of $100,000 for a loss on settlement of debt of $20,000 5,000,000 May 6, 2026 Conversion of Series C Preferred Shares* Conversion of 40 Series C shares for fair value of $52,560 3,285,000 May 12, 2026 Conversion of Series C Preferred Shares* Conversion of 93 Series C shares for fair value of $122,202 7,637,625 May 27, 2026 Debt exchange* $144,300 in principal and accrued interest exchanged for common shares at a fair value of $222,000 for a loss on settlement of debt of $77,700 12,000,000 May 29, 2026 Convertible debt issuance* $138,889 Convertible note that converts at 65% of the lowest traded prices 10 prior trading days — June 3, 2026 Convertible debt issuance* $230,000 Convertible note that converts at 65% of the lowest traded prices 20 prior trading days — June 9, 2026 Convertible debt issuance* $55,000 Convertible note that converts at 65% of the lowest traded prices 10 prior trading days — June 9, 2026 Convertible debt issuance* $110,000 Convertible note that converts at 65% of the lowest traded prices 10 prior trading days — June 12, 2026 Debt exchange* $89,700 including $75,200 in principal and $14,500 in accrued interest exchanged for common shares at a fair value of $138,000 for a loss on settlement of debt of $48,300 12,000,000 June 15, 2026 Convertible debt issuance* $165,000 Convertible note that converts at 65% of the lowest traded prices 10 prior trading days — June 20, 2026 Convertible debt issuance* $157,000 Convertible note that converts at 65% of the lowest traded prices 10 prior trading days — - 44 - Table of Contents June 24, 2026 Convertible debt issuance* $166,667 Convertible note that converts at 60% of the lowest traded prices 20 prior trading days — July 8, 2026 Debt conversion* $10,000 in principal and $610 in accrued interest for common shares 1,441,576 July 13, 2026 Share cancellation Cancellation of March 25, 2026 shares issued a returnable commitment fee (14,100,000 ) July 21, 2026 Debt conversion* $20,000 in principal and $1,307 in accrued interest for common shares 3,859,904 July 22, 2026 Debt exchange* $80,730 in principal exchanged for common shares at a fair value of $126,000 for a loss on settlement of debt of $45,270 18,000,000 July 29, 2026 Debt conversion* $20,000 in principal and $1,360 in accrued interest for common shares 4,306,452 August 8, 2026 Series C conversion* 62 Series C shares at a redemption value of $ 81,468 20,811,189 August 6, 2026 Debt conversion* $20,000 in principal and $1,413 in accrued interest for common shares 4,866,666 August 11, 2026 Convertible debt issuance* $209,300 Convertible note that converts at 65% of the lowest traded prices 10 prior trading days — August 13, 2026 Debt conversion* $20,000 in principal and $1,460 in accrued interest for common shares 4,877,273 August 19, 2026 Convertible debt issuance* $150,000 Convertible note that converts at 65% of the lowest traded prices 20 prior trading days — August 21, 2026 Series C conversion* 47 Series C shares at a redemption value of $ 61,758 21,319,222 August 24, 2026 Debt conversion* $20,000 in principal and $1,917 in accrued interest for common shares 8,206,302 August 25, 2026 Debt conversion* $20,000 in principal and $1,925 in accrued interest for common shares 8,208,841 August 26, 2026 Debt exchange* $69,660 in principal exchanged for common shares at a fair value of $162,000 for a loss on settlement of debt of $92,340 27,000,000 March 1, 2026-August 31, 2026 Other registered sales Various prices 123,765,723 Number of shares outstanding August 31, 2026 596,259,245 * Sold under rule 144 - 45 - Table of Contents ITEM 3. DEFAULTS UPON SENIOR SECURITIES The Company has not defaulted upon senior securities. ITEM 4. MINE SAFETY DISCLOSURES Not applicable to the Company.