Mr. Praveen Arichandran reports

ARGO ANNOUNCES $4.5 MILLION AGREEMENT WITH THE TOWN OF CALEDON

Argo Corp. has signed a $4.5-million service agreement dated June 5, 2026, with the corporation of the Town of Caledon to launch and operate Argo's Smart Routing transit infrastructure and service.

Under the agreement, Argo is expected to launch its Smart Routing transit system in Caledon this fall and operate the service for an initial 15-month period. The agreement provides an aggregate fee to Argo of approximately $4.5-million for the initial term, excluding additional potential fare revenue retained by Argo. The town has the ability to extend the agreement for additional periods, including a potential 12-month extension that has been authorized by the town council, subject to applicable municipal approvals. The system is expected to serve Caledon East, Bolton and Mayfield West/Southfields, with connections to GO Transit, Brampton Transit and York Region Transit. Further information regarding the service is expected to be communicated in the coming weeks in collaboration with the town.

Argo has demonstrated two flexible deployment models for its Smart Routing transit system: delivering a full end-to-end municipal transit network, and augmenting an existing large-scale transit network. The agreement represents another deployment of Argo's end-to-end transit network delivery model:

• Delivering a full municipal transit network: Argo's Smart Routing transit system fully replaced the Town of Bradford West Gwillimbury's fixed-route bus system, which had previously been operated by a private contractor. As disclosed on March 5, 2026, the company reported that average daily transit ridership more than doubled within two months of the April, 2025, launch, with a more-than-50-per-cent reduction in cost-per-ride when compared with BWG's fixed routes the previous year.
• Augmenting existing transit networks: Argo launched its Smart Routing transit system in downtown Brampton, where an established large-scale transit network already exists, but the first-and-last-mile gap remains a challenge for many residents. The service picks riders up from their door for point-to-point trips or connections to Brampton Transit and GO Transit lines through an on-demand, fully electric service integrated with Ontario's Presto fare system.

"The Caledon agreement expands Argo's Smart Routing infrastructure and service to a third municipality, enabling better connectivity for riders and enhanced efficiency across the Argo network," said Praveen Arichandran, chief executive officer and co-founder of Argo.

The technology is built to drive increased efficiency and regional connectivity as ridership grows and Argo's smart infrastructure scales. The company continues to pursue a robust pipeline of opportunities with municipalities and transit agencies, with a focus on continued expansion of its patent-pending Smart Routing solution.

About Argo Corp.

Argo delivers the first ever vertically and publicly integrated city transit system, designed to augment public transportation 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.

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