Mr. David Montpetit reports

D-BOX ANNOUNCES THE CREATION OF A STRATEGIC REVIEW COMMITTEE AND DETAILS RELATING TO ITS ANNUAL MEETING OF SHAREHOLDERS

D-Box Technologies Inc. has provided certain details regarding the creation of a strategic review committee of its board of directors; and it will hold its annual meeting of shareholders on Sept. 28, 2023.

Strategic review committee

The corporation announced that the board formed the strategic review committee to evaluate strategic alternatives potentially available to D-Box as well as their respective implications and to proceed with a formal strategic review process with a view to enhance shareholder and stakeholder value in the long term. The committee comprises solely independent directors, namely Jean-Pierre Trahan (chair), Denis Chamberland and Luc Martin, and retained Fasken Martineau DuMoulin LLP as legal counsel to assist with the review process. Following its constitution, the committee retained Stifel Nicolaus Canada Inc. as its financial and strategic adviser.

The strategic review committee has met several times in furtherance of its mandate, has initiated a formal review process of strategic alternatives, and has been engaged in continuing discussions in the last few months with a number of parties with the assistance of Stifel and Fasken.

"D-Box is poised for growth across multiple key markets," said Denis Chamberland, chair of the board. "The board is committed to evaluating strategic alternatives available to D-Box while simultaneously supporting the management team as they continue to strengthen D-Box's leadership position in the theatrical market and grow its business in other key markets. The board believes that pursuing these complementary paths is in the best interests of D-Box and D-Box's shareholders, employees and other stakeholders."

Neither the board nor the committee has set a timetable to complete the strategic review process nor have any decisions been made relating to strategic alternatives at this time. There can be no assurance that the review process will result in a transaction. D-Box does not intend to provide any updates or make any announcements unless or until it determines that further disclosure is appropriate or necessary.

While the review process is continuing, D-Box's management remains committed to executing on D-Box's strategy and business plan with the full support of the board.

Annual meeting of shareholders

The meeting will be held in a virtual format on Sept. 28, 2023, at 10 a.m. EDT. Shareholders will have to opportunity to participate in real time and vote at the meeting on-line in the manner set forth in the management information circular to be mailed by D-Box prior to the meeting.

Shareholders of record at the close of business on Aug. 8, 2023, and duly appointed proxyholders will be entitled to vote on matters to be considered at the meeting. D-Box uses the notice-and-access rules of the Canadian Securities Administrators and mails a notice of meeting to its shareholders with instructions to access the material distributed on-line in connection with the meeting. The management information circular and financial statements will also be mailed to shareholders who requested it. These documents will be available on D-Box's profile on SEDAR+ and on D-Box's website.

About D-Box Technologies Inc.

D-Box creates and redefines realistic, immersive commercial and entertainment experiences by moving the body and sparking the imagination through effects: motion, vibration and texture. D-Box has collaborated with some of the best companies in the world to deliver new ways to enhance great stories. Whether it is movies, video games, music, relaxation, virtual reality applications, metaverse experience, themed entertainment or professional simulation, D-Box creates a feeling of presence that makes life resonate like never before. D-Box Technologies is headquartered in Montreal with offices in Los Angeles, United States, and Beijing, China.

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