Hyperion DeFi Reports Third Quarter 2025 Financial Results with Record Net Income of $6.6 Million Management Initiates Q4'25 Adjusted Revenue (3) Guidance of 31% to 43% Q-o-Q Growth Over 13 Million HYPE Tokens Staked to

DeFi Reports Third Quarter 2025 Financial Results with Record Net Income of $6.6 Million

Initiates Q4'25 Adjusted Revenue(3) Guidance of 31% to 43% Q-o-Q Growth

13 Million HYPE Tokens Staked to Hyperion's Validator as of October 31, 2025

Business Lines Expected to Achieve Positive Operating Cash Flows in 2026

HILLS, Calif., November 13, 2025 -- Hyperion DeFi, Inc. (NASDAQ: HYPD) ("Hyperion DeFi" or the "Company"),

the first U.S. publicly listed company building a long-term strategic treasury of Hyperliquid's native token, HYPE, today reported

results for the third quarter ending September 30, 2025.

has been an extraordinary six months for Hyperion DeFi, and we are still in the early stages of our evolution," said Hyunsu Jung, Interim

CEO of Hyperion DeFi.

continued, "We've successfully executed what we believe represents one of the most significant corporate transformations in recent

public market history - pivoting from Eyenovia's ophthalmic technology focus to establishing ourselves as a premier institutional gateway

to DeFi innovation. In our first full quarter with our new digital asset treasury strategy, not only did we achieve record net income

for the Company, but we have established multiple business lines on the Hyperliquid blockchain which we expect to continue to scale through

the fourth quarter, into 2026, and beyond."

Operating & Financial Results(1)

financial information in this press release is unaudited. Throughout this document, totals may not sum due to rounding. Calculations

are based on unrounded results. N.M. is the abbreviation for "Not Meaningful".

- Digital Assets", a GAAP measure, does not include HiHYPE, which is Hyperion's liquid staking HYPE token.

"Non-GAAP Financial Measures" below for an explanation and reconciliations of non-GAAP measures used throughout this press

operating disclosure; information on the number of tokens staked at the Company's validator is available real-time via public sources.

supplemental disclosure more fully described on the Reconciliation of GAAP HYPE - Digital Assets to Non-GAAP Gross HYPE Holdings.

of Business Activities in Q3'25

DeFi is the first U.S. publicly listed company building a long-term strategic treasury of Hyperliquid's native token, HYPE. The

Company is focused on providing its shareholders with simplified access to the Hyperliquid ecosystem, one of the fastest growing, highest

revenue-generating blockchains in the world. Shareholders benefit from a gradually compounding exposure to HYPE, both from its native

staking yield and additional revenues generated from its unique on-chain utility.

Company's Q3'25 operating business activities are summarized below:

DeFi, Inc. will host a conference call to discuss third quarter 2025 results at 5:00 p.m. Eastern Time on November 13,

2025. A slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their

most directly comparable GAAP measures can be accessed through the Company's Investor Relations website at https://ir.hyperiondefi.com/events-and-presentations

along with information for the conference call. Participants may submit questions in advance of the call via email to IR@hyperiondefi.com.

A webcast of the call will be archived and available through Thursday, November 27, 2025 at 11:59 on the Company's website.

growth rates represent year-over-year comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded

to the nearest dollar, except as otherwise noted. As a result, certain amounts and rates may not sum or recalculate using the rounded

dollar amounts provided.

the Hyperliquid Platform and the HYPE Token

is a next-generation layer one blockchain optimized for high frequency, transparent trading. The blockchain includes fully on-chain perpetual

futures and spot order books, with every order, cancel, trade, and liquidation occurring within 70 millisecond block times. It also hosts

the HyperEVM, a general-purpose smart contract platform that supports permissionless decentralized financial applications akin to Ethereum.

is the native token of Hyperliquid. Staked HYPE provides utility for users via reduced trading fees and increased referral bonuses. As

of October 2025, more than 30 million HYPE have been autonomously purchased and sequestered by the blockchain with the trading fees

generated on the network's central limit order books.

DeFi, Inc. is the first U.S. publicly listed company building a long-term strategic treasury of HYPE. The Company provides investors

with streamlined access to the Hyperliquid ecosystem, one of the fastest growing, highest revenue-generating blockchains in the world.

Shareholders benefit from compounding exposure to HYPE, both from its native staking yield and additional revenues generated from its

unique on-chain utility.

DeFi is also developing its proprietary Optejet User Filled Device (UFD) that is designed to work with a variety of topical ophthalmic

liquids, including artificial tears and lens rewetting products. The Optejet is especially useful in chronic front-of-the-eye diseases

due to its ease of use, enhanced safety and tolerability, and potential for superior compliance versus standard eye drops. Together,

these benefits may result in higher treatment compliance and better outcomes for patients and providers.

more information, please visit Hyperiondefi.com.

Looking Statements; Disclaimer

for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements.

Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies,

predictions or any other statements, our future activities or other future events or conditions, including the estimated market opportunities

for our platform technology, the viability of, and risks associated with, our cryptocurrency treasury strategy, and the growth and revenue

potential of the Hyperliquid ecosystem and the growth prospects of the Company. These statements are based on current expectations, estimates

and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance

and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some

cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors

discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission (the "SEC").

forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities

laws, Hyperion DeFi does not undertake any obligation to update any forward-looking statements.

information contained in this press release and statements made orally during the corresponding earnings call relate to or are based

on studies, publications, surveys and other data obtained from third-party sources and Hyperion DeFi's own internal estimates and

research. While Hyperion DeFi believes these third-party studies, publications, surveys and other data to be reliable as of the date

of this press release, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness

of, any information obtained from third-party sources. In addition, no independent source has evaluated the reasonableness or accuracy

of Hyperion DeFi's internal estimates or research and no reliance should be made on any information or statements made in this

press release relating to or based on such internal estimates and research. You should conduct your own investigation and analysis of

Hyperion DeFi, its business, prospects, results of operations and financial condition. In furnishing this information, Hyperion DeFi

does not undertake any obligation to provide you with access to any additional information (including forward-looking information and

any projections contained herein) or to update or correct the information.

DeFi, Inc. Investor Contact:

Statement of Operations

Statements of Changes in Stockholders' Equity (Deficiency)

the Three and Nine Months Ended September 30, 2025

Includes gross proceeds of $5,851,007 less total issuance costs of $187,741.

Includes gross proceeds of $1,039,206 less total issuance costs of $116,456. Also note that incremental value and non-cash warrant modification

and additional warrants issuance costs related to the warrant inducement entered into on January 16, 2025 offset to a zero balance.

Includes gross proceeds of $50,000,000 less total issuance costs of $634,250.

Includes gross proceeds of $2,657,659 less total issuance costs of $98,519.

Includes gross proceeds of $22,489,548 less total issuance costs of $705,603.

Partial exercise of the Armistice warrants.

Statements of Changes in Stockholders' Equity (Deficiency)

the Three and Nine Months Ended September 30, 2024

Includes gross proceeds of $3,293,347 less total issuance costs of $98,800.

Includes gross proceeds of $2,000,000 less total issuance costs of $111,171.

Shares issued as partial consideration for License Agreement with Formosa Pharmaceuticals Inc.

Shares issued in partial consideration for reacquisition of License Agreement with Bausch & Lomb Ireland Limited.

Includes gross proceeds of $1,728,804 less total issuance costs of $51,868.

Includes gross proceeds of $14,139,994 less total issuance costs of $1,791,816.

Offering includes modification of warrants and additional warrants in the July 2024 offering.

Non-cash warrant modification and additional warrants issuance costs related to one of the offerings of $2,868,000 are shown on a separate

Includes gross proceeds of $1,212,251 less total issuance costs of $36,368.