TruGolf Links Engages Polymath for Cap Table Tokenization in First Technology Deployment Following Merger

TruGolf Links engages Polymath for professional services & an on-chain cap table on Polymesh, facilitating issuance infrastructure and compliance as its franchise network scales toward more than 221 committed locations

SALT LAKE CITY, Oct. 14, 2026 /PRNewswire/ -- TruGolf Holdings, Inc. ("TruGolf") (NASDAQ: TRUG) today announced that its franchise subsidiary, TruGolf Links Franchising, LLC ("TruGolf Links"), has signed an intercompany agreement with Polymath Research Inc. ("Polymath"), TruGolf's tokenization subsidiary, to provide professional services and move the TruGolf Links capitalization table onto Polymath's regulated digital securities infrastructure.

The agreement comes six days after TruGolf completed its acquisition of Polymath on October 8, 2026, and is the first Polymath engagement signed inside the combined company. It also lays the groundwork for the equipment leasing program and fractional franchise ownership opportunities for qualified franchisees that TruGolf Links and Polymath are developing, with initial rollout targeted for the first quarter of 2027.

TruGolf Links is built on Regional Developers who acquire exclusive territories in markets of one million people or more. The network opened its flagship location at Plaza at Cherry Hill, New Jersey, in July, and its Regional Developers in New Jersey, New York, and Illinois represent commitments for more than 221 future locations. A franchise system that grows territory by territory needs ownership records that can keep pace. Under the agreement, Polymath will migrate TruGolf Links' equity records to a tokenized cap table on Polymesh, a regulated blockchain designed for compliant assets, and build investor onboarding, identity verification, and transfer restrictions directly into the token, designed to facilitate compliance with applicable securities law requirements and regulatory concerns.

The result is a single, real-time record of who owns what, with compliance written into the asset itself. For TruGolf Links, that means a cap table ready for scale as the network expands. According to Nate Larsen, President of TruGolf Links:

"TruGolf has spent more than forty years proving the game belongs indoors. Every bay we open runs on TruGolf's trusted simulation technology. Now the business behind those bays runs on technology built for where we believe capital markets are heading. We built the future of how golf is played. This is the next chapter: how it's owned."

For Polymath, the engagement turns the thesis behind the acquisition into a working deployment. According to Natalie Hirsch, Chief Financial Officer and Chief Operating Officer of TruGolf and Interim CEO & CFO of Polymath:

"When we brought TruGolf and Polymath together, the thesis was clear: real operating businesses, paired with the infrastructure to modernize how they're owned and financed. Six days after close, that thesis is live inside our own house. TruGolf Links is our first deployment, and it gives every growing private company a working model of what a tokenized cap table looks like in practice."

Founded in 2017, Polymath introduced the ST-20 security token standard and, in 2021, launched Polymesh, its public, permissioned Layer-1 blockchain, where identity, compliance, and settlement are built into the chain itself.

About TruGolf
Since 1983, TruGolf has driven the golf industry forward with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf's mission is to grow the game by making it more accessible, approachable, and affordable through technology, because TruGolf believes golf is for everyone. TruGolf's team has built award-winning video games, innovative hardware solutions, and an all-new e-sports platform, E6, to connect golfers worldwide. Since its beginning, TruGolf has continued to define and redefine what is possible with golf technology.

About TruGolf Links
TruGolf Links Franchising, LLC, a wholly owned subsidiary of TruGolf Holdings, Inc., delivers a true-to-life indoor golf experience powered by TruGolf simulation technology, with memberships, leagues, lessons, nationwide tournaments, and private events. TruGolf Links offers franchise opportunities nationwide, with a strategic emphasis on Regional Developers who acquire exclusive territories with populations of one million or more.

Learn more at trugolflinks.com

About Polymath
Polymath is a Canadian technology company that develops enterprise-grade capital markets infrastructure for the issuance, compliance, and lifecycle management of regulated digital securities and other tokenized financial instruments.

Polymath enables issuers, investors, and market participants to create and manage tokenized representations of real‑world assets within compliant frameworks, supporting investor onboarding, regulatory controls, and post‑issuance administration across private and institutional markets.

With a strong history of building blockchain‑based capital markets infrastructure, Polymath's technology supports scalable, compliant deployment of tokenized securities across asset classes, including real‑world assets, private equity, and structured financial products. Polymath's solutions are purpose-built for institutional adoption and evolving regulatory environments.

Learn more at polymath.network 

Important Notice
No securities are currently being offered pursuant to this announcement. Any future offering, including any equipment leasing or fractional franchise ownership opportunity, will be made only pursuant to applicable offering documents and in accordance with applicable securities laws and regulations. This release is not an offer to sell or a solicitation of an offer to buy any security, and is not a recommendation with respect to any investment.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as forward-looking information within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and include statements regarding beliefs, plans, expectations, intentions, estimates, projections, or assumptions regarding future events or performance.

Forward-looking statements in this press release include, but are not limited to, statements regarding: the services to be provided by Polymath to TruGolf Links and the anticipated benefits of the agreement; the migration of TruGolf Links' capitalization table to tokenized form; the anticipated development and timing of TruGolf Links' equipment leasing program and fractional franchise ownership opportunities; the expected growth of the TruGolf Links franchise network; and the anticipated benefits of TruGolf's acquisition of Polymath.

Forward-looking statements are generally identified by words such as "anticipates," "believes," "expects," "intends," "plans," "projects," "estimates," "may," "will," "would," "could," "should," and similar expressions or the negative thereof. These statements are based on current expectations, assumptions, and estimates of management as of the date of this press release and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or developments to differ materially from those expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: TruGolf's ability to successfully integrate Polymath's business and realize the anticipated benefits of the acquisition; TruGolf Links' ability to open committed locations; risks related to digital assets, tokenized securities, and token-related initiatives; changes in market conditions; changes in applicable laws or regulations; competitive pressures; general economic and business conditions; and other risks and uncertainties described from time to time in TruGolf's filings with the Securities and Exchange Commission.

Although management believes that the assumptions and expectations reflected in the forward-looking statements are reasonable as of the date hereof, no assurance can be given that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and TruGolf undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

SOURCE TruGolf Holdings, Inc