PMGC Holdings Inc., through its wholly-owned subsidiary NorthStrive Defense Tech LLC, has entered into a Standard Exclusive License Agreement with a licensor. The agreement grants NorthStrive Defense Tech an exclusive worldwide license to utilize U.S. Patent No. 12,291,334 and associated know-how in the aerospace and defense technologies sector. NorthStrive Defense Tech is obligated to develop and commercialize licensed products, providing annual development reports and adhering to specified diligence milestones. Financial considerations include a non-refundable license issue fee, annual license maintenance fees, royalties on net sales, and potential sublicense payments. The license term extends until the last to expire Royalty Term, which is the later of the patent's expiration or twelve years from the first Net Sale. The agreement outlines termination clauses for both parties, including breaches of contract, failure to meet milestones, and insolvency. NorthStrive Defense Tech has the right to sublicense the technology, subject to the licensor's consent and specific restrictions, including prohibitions against entities from certain foreign countries of concern.