Mr. Jim Barrett reports

EDGE TOTAL INTELLIGENCE REPORTS FIRST QUARTER 2023 RESULTS

Edge Total Intelligence Inc. (edgeTI) has released its financial results for the three months ended March 31, 2023, and has reported progress in its growing adoption of artificial intelligence, automation and digital twin solutions.

"First quarter was a return to growth as edgeTI saw its customers embrace longer-term contracts, new prospects open new markets, partners grow new business and industry analysts cover our company," said Jim Barrett, chief executive officer of edgeTI. "Our platform has an important role to play in customer adoption of AI and automation solutions -- more importantly, organizations are realizing they need to accelerate and deliver real value from their AI and automation investments while connecting their people via situational awareness at the speed of relevance."

First quarter 2023 highlights

• Achieved monthly recurring revenue (MRR) at the end of the first quarter of $292,103, an 11-per-cent increase over the fourth quarter ending MRR of $264,282.
• Reduced operating loss by 32 per cent in the first quarter when compared with same quarter last year.
• Secured a three-year renewal from human capital management leader and its use of edgeCore platform as they modernize IT operations.
• Opened a new market segment with Idaho Environmental Coalition which is utilizing the edgeCore platform to track and guide progress on the multiple projects tied to the U.S. Department of Energy's Idaho National Lab.
• Completed the restructuring of the company's debts and later negotiated an increased credit line and convert-to-share option on the company's credit facility (subject to exchange approval), which will reduce the company's debt by more than half when executed.
• Demonstrated new capabilities to infuse AI into business workflows via ChatGPT, a generative AI from openai.com as part of the company's commitment to operationalize AI.
• Initiated market maker and investor marketing programs to improve trade handling and investor awareness.
• Received further recognition by CB Insights comparing the company to Palantir and Gartner in its Emerging Tech Impact Radar for 2023.

New buying signals regarding data play to EdgeTI strengths

Within AI, automation and digital twin solutions, which industry and market analysts anticipate growing at an impressive 40-per-cent CAGR (compound annual growth rate) through 2030, the company reports increased demand signals around Data Mesh (coined by Zhamek Dehghani) and Data Fabric (an earlier approach to reach and interact with data at its authoritative source) as more organizations are resonating with the approaches' more efficient use of data across wider audiences.

"Our edgeCore platform and previous versions of our software have always been devoted to reaching source data and expanding use according to security and privacy policies. edgeCore aligns with Data Mesh's additional principles of treating data as a product, enabling self-service, and promoting shared governance," said Mr. Barrett. "We also see a similar trend with Application Mesh, where different workflows and interactions come together to enhance the user experience, speed up tasks and make information more useful. Our approach of integrating data and applications is crucial in today's digital twins and hyperautomation eras. Our discussions with multiple organizations confirm that a combined view of data and applications is what organizations need to simplify the complexities of operations."

All financial amounts in this release are posted in United States Dollars as are the consolidated financial statements and management's discussion and analysis posted on SEDAR and OTC markets.

Additional updates

The company also reports that its board approved the issuance of the 75,000 warrants at five Canadian cents a share on May 25, 2023, as part of the related party transaction to convert the credit facility with Lotus Domaine (detailed in the financials and MD&A) as originally specified in the term sheet for the debt to shares transaction and subsequent to 4E reporting and filing with the exchange.

The company also discloses that Edge Total Intelligence has engaged Creative Direct Marketing Group Inc. for marketing services. CDMG will, as appropriate, create campaigns, magalogs, e-mail series, search and social ads, and native and display ads for physical and digital mediums, set up and manage remarketing campaigns and bring attention to the business of the company in consideration of $500,988 (U.S.). The promotional activity will occur by print and digital media during the third quarter of 2023.

About Edge Total Intelligence Inc.

Edge Total Intelligence helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore, which unites multiple software applications and data sources into one immersive experience. Global enterprises, service providers and governments are more profitable when insight and action are united to deliver fluid journeys through the platform's low-code development capability and composable operations. With edgeCore, customers improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology and cross-domain operations -- helping them achieve the impossible.

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