Mr. Andrew Duncan reports

BOARDWALKTECH EXTENDS AND EXPANDS COMMERCIAL ENGAGEMENT WITH FORTUNE 50 TECHNOLOGY COMPANY FOR SUPPLY CHAIN MANAGEMENT

Boardwalktech Software Corp. has extended and expanded its relationship with a Fortune 50 California-based technology company (the customer). This is the second such expansion of the commercial relationship, with the initial professional services engagement announced on May 18, 2021, followed by the first expansion of the agreement and temporary licence that was announced on Dec. 23, 2022.

Boardwalktech is pleased to announce the expansion of the customer's deployment and licensing of the Boardwalk platform and associated Radius control tower/Unity Central data management solutions to improve supply chain visibility and order execution. The initial phase, being announced today, is the first annual licence with the customer, and is focused on improving business-to-business order fulfilment and visibility. The next two phases of the solution are expansions which are expected to be added throughout 2024 and will leverage Unity Central for return management improvements, then a full platform solution for supply-side order management connecting the customer's various contract manufacturing partners and suppliers. Future announcements are expected as those new phases are executed. Combined licence and services revenue from this expanded plan is expected to exceed $400,000 (U.S.) over the next 12 months. Further licence increases are expected as these solutions renew and Boardwalktech continues to demonstrate measurable return on investment for the customer in its quest for continuous order and supply chain improvement.

The Boardwalk platform provides a cutting-edge solution that empowers companies to better understand and take action on the various information, such as unstructured data within documents and e-mails, that flow within their supply chain ecosystem. According to a 2022 Lodestar survey, a typical purchase order can require over 50 documents and signal flows across 25 to 30 stakeholders, often requiring dozens of supplemental e-mails to insure on-time order fulfilment. These documents and signals are time-consuming and tedious to interpret, understand and organize to ensure timely and pro-active actions when an order is in a critical state. Boardwalk's digital ledger and Unity Central solution can simultaneously ingest all of these documents and signals without having to transform the data, understand the contents and signals within these documents, and provide immediate alerts and predictive analytics so pro-active steps can be taken to insure an order stays on track. Current supply chain solutions rely on legacy approaches making them expensive and late to react to issues that could result in a missed or delayed order because they fail to improve the data reliability root cause. This is why a Price Waterhouse Cooper survey in February, 2023, showed that 83 per cent of supply chain executives have not seen value from data investments they have made to date. Conversely, after an extensive review period measuring the ROI on actual commercial performance, the customer chose to license the Boardwalk platform which is being announced today.

"Today's announcement with this customer marks the start of another growth chapter for Boardwalktech. Unity Central augments our digital ledger leadership to provide customers with a more holistic, high ROI solution -- whether data resides in spreadsheets or documents. While market forces meant it took the customer longer to complete its commercial ROI process than first expected, it was worth the wait. Not only have we finally announced our first licence with this customer, but we are excited that future plans have been expanded. As these joint developments progress, we look forward to future announcements. That said, licence and service revenues over the next 12 months is expected to exceed the company's prior projections for this engagement," stated Andrew T. Duncan, chief executive officer at Boardwalktech. "The majority of enterprise information is unstructured data which means it is often omitted from critical decisions or alerts until after the fact. The Boardwalk platform and Unity Central can now ingest this information, providing alerts and predictive analytics to all parties in the supply chain ecosystem to understand this information and quickly take action. The customer recognized these challenges to build a world-class supply chain and chose the Boardwalktech platform and Unity Central to help them get closer to an aspirational perfect order fulfilment goal and environment."

About Boardwalktech Software Corp.

Boardwalktech has developed a patented digital ledger technology platform currently used by Fortune 500 companies running mission-critical applications worldwide. Boardwalktech's digital ledger technology and its unique method of managing vast amounts of structured and unstructured data is the only platform on the market today where multiple parties can effectively work on the same data simultaneously while preserving the fidelity and provenance of the data. Boardwalktech can deliver collaborative, purpose-built enterprise information management applications on any device or user interface with full integration with enterprise systems of record in a fraction of the time it takes other non-digital ledger technology-based platforms. Boardwalktech is headquartered in Cupertino, Calif., with offices in India and operations in North America.

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