Mr. Steve Levely reports

ACKROO ANNOUNCES 2023 UNAUDITED REVENUE RESULTS

Ackroo Inc. had unaudited annual revenues of $6,825,670 for the year ended Dec. 31, 2023, including $5,935,055 of annual recurring revenue. This represents a 9-per-cent increase in total revenue and an 11-per-cent increase in recurring revenue over the same period in 2022. The company completed its 13th acquisition, divested a non-core point-of-sale product, paid down approximately $524,000 of debt, bought back 6,068,681 shares, finished the year with a strong treasury and expects to announce its sixth consecutive positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) year, once year-end audit is complete, delivering growth in this area as well. The company delivered these results while also continuing to streamline and optimize general operations in order to set the company up for bigger success in 2024 and beyond. The complete financial results for the year ended Dec. 31, 2023, will be available under the profile for Ackroo on SEDAR+.

"We are very happy with the continued progress we are having consolidating, simplifying and improving our industry and our business," said Steve Levely, chief executive officer of Ackroo. "We started the year normalizing a U.S.-based acquisition in the loyalty marketing space while also divesting of a point-of-sale business that became a non-core asset. We used the proceeds from the divesture along with the earnings generated from the business over the first few quarters to pay off the balance owed for our Simpliconnect acquisition and to clear a debt settlement we had. We then used the remaining cash generated to do share buybacks as we believed this was the best use of capital based on the share price of Ackroo. We then finished the year using our Q4 generated cash to close our 13th acquisition to date in the gift card space, once again in the U.S. market. All of these actions led to another year of solid revenue growth while also improving our balance sheet in the process. We continued our focus on improving retention and expansion of our inorganically and organically acquired merchants while also better streamlining our operations to simplify processes and maximize cash generation for the business. We are very encouraged by the many decisions we made and the results we achieved in 2023 and are excited for what lies ahead in 2024."

The company cautions that figures for revenue have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. The company expects to complete its 2023 audit in April to confirm revenue figures, along with other financial results.

Ackroo has also granted incentive stock options to purchase 5.8 million common shares to certain directors, officers and employees of the company, exercisable at a price of seven cents, until Jan. 26, 2027.

About Ackroo Inc.

As an industry consolidator, Ackroo acquires, integrates and manages gift card, loyalty marketing, payment and point-of-sale solutions used by merchants of all sizes. Ackroo's self-serve, data-driven, cloud-based marketing platform helps merchants in-store and on-line process and manage loyalty, gift card and promotional transactions at the point of sale. Ackroo's acquisition of payment independent sales organizations affords Ackroo the ability to resell payment processing solutions to its growing merchant base through some of the world's largest payment technology and service providers. As a third revenue stream Ackroo has acquired certain custom software products, including hybrid management and point-of-sale solutions that help manage and optimize the general operations for niche industries, including automotive dealers and more. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ont., Canada.

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