Mr. Mark Binns reports

CARRIER CONNECT DATA SOLUTIONS SIGNS NON-BINDING LETTER OF INTENT TO ACQUIRE NETWORK CONNECTIVITY AND DELIVERY ASSETS FROM MOREWAVE COMMUNICATION

Carrier Connect Data Solutions Inc., through its wholly owned subsidiary, Carrier Connect Systems Ltd., has entered into a non-binding letter of intent with Morewave Communication Inc., a leading provider of network connectivity solutions and last-mile connectivity services.

Morewave provides last-mile network and connectivity to data centre clients primarily based out of Vancouver and extending through Western Canada. These services are of great value to Carrier and its clients as it allows for more immediate and simplified delivery of Internet connectivity solutions for Carrier's clients.

Morewave is currently generating approximately $725,000 in annual recurring revenue with a profit margin of more than 25 per cent. Upon successful completion of the transaction, Carrier's top-line revenue is expected to grow by 15 to 20 per cent immediately. The expansion of the network offering across Carrier's other data centres is expected to drive further growth in the revenue of Carrier.

Pursuant to the terms of the LOI, the company will, among other things, acquire, through its wholly owned subsidiary, the business assets that deliver networking services and connectivity solutions owned and/or operated by Morewave. In consideration for the proposed acquisition, the company will pay $750,000 in such number of common shares in the capital of the company that, in the aggregate, is worth $750,000 to Morewave upon closing. The consideration shares will be escrowed and released by four equal tranches at six, 12, 18 and 24 months following closing.

The proposed transaction will be an arm's-length transaction. No finders' fees are payable by either the company or Morewave in connection with the proposed acquisition.

The parties anticipate entering into a definitive agreement by no later than May 1, 2026, and completing the proposed acquisition shortly thereafter. The proposed acquisition is subject to a number of conditions, including, but not limited to, the parties entering into the definitive agreement, the receipt of all necessary approvals and certain other closing conditions, including the completion of satisfactory due diligence by the company.

Mark Binns, chief executive officer of Carrier, commented: "The acquisition of Morewave's network services immediately unlocks a valuable new revenue stream for Carrier, by allowing us to sell network connectivity and services to our entire client base, across our full portfolio of data centres. This is a highly profitable line of business employed by data centre portfolios held across different geographies, and we are thrilled to add this capability and corresponding revenue driver."

About Carrier Connect Data Solutions Inc.

Carrier Connect Data Solutions' mission is to roll up Tier 2/3 data centres internationally that specialize in delivering co-location and data centre solutions to artificial intelligence companies, service providers, enterprises and small businesses. Data centres are the physical locations that store computing machines and their related hardware equipment, such as servers, data storage drives and network equipment. As a carrier-neutral organization, Carrier has systems fully independent and owned outright within its leased space. The current principal markets for the company are Vancouver, Ottawa and Saint John, Canada, and Perth, Australia, where it serves clients which use its facilities either as their primary data cente or as an ancillary site depending on their needs.

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