Mr. Praveen Arichandran reports

ARGO ACHIEVES 4.2X GLOBAL BENCHMARK AVERAGE FOR ON-DEMAND TRANSIT EFFICIENCY

Argo Corp. has released a new performance analysis comparing its Smart Routing transit system in the town of Bradford West Gwillimbury (BWG) to services examined in the On-Demand Transit Market Report -- Midyear 2025, a leading independent industry benchmark published semi-annually. The company's analysis indicates that using the report's published calculation methodology, its BWG service achieved 10.0 passengers per vehicle revenue hour (PAX/VRH), compared with the benchmark average of 2.38 PAX/VRH.

PAX/VRH is a commonly used measure of on-demand transit service efficiency:

A low number means each hour of service carries only a small number of riders and is harder to justify economically; and a high number means more riders per hour, better vehicle utilization and a more scalable model for municipalities.

According to the report, the global average from the benchmark set for on-demand transit is 2.38 PAX/VRH, with more than 45 per cent of examined services operating below 2.0 PAX/VRH. At 10.0 PAX/VRH, Argo's service in BWG outperforms the global average by 4.2 times, and surpasses the highest reported value in the dataset by over 45 per cent.

Smart Routing technology

The analysis indicates that Argo's patent-pending Smart Routing technology represents a significant advancement in an otherwise mature environment consisting primarily of on-demand transit software solutions. Argo's Smart Routing combines vehicular hardware, software and turnkey operational management in an end-to-end solution that picks riders up on demand for a standard transit fare. The predictive routing technology is designed to provide a more scalable model for municipalities to enhance transit service levels.

"For years, municipalities around the world have struggled to make on-demand transit service work at scale, often resulting in high cost-per-ride due to low vehicle utilization," said Praveen Arichandran, chief executive officer and co-founder of Argo. "This analysis indicates that our technology can deliver world-leading vehicle utilization that allows municipalities to efficiently scale on-demand transit access to their residents."

Global benchmark data is sourced from the report, authored by Lukas Foljanty, as of June, 2025. The company's analysis is not affiliated with the report or its author and only references it as a data source. While a newer 2025 Recap report has since been released showing a lower global average of 2.19 PAX/VRH, the midyear 2025 edition was used for the analysis because it provides more granular, service-level data for each transit service, whereas the later report presents only aggregated global averages. The company's analysis uses passenger numbers, service hours and vehicle numbers from the same time period of the report to ensure analytical robustness.

About Argo Corp.

Argo delivers the first-ever vertically and publicly integrated city transit system, designed to augment public transit systems and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility.

We seek Safe Harbor.