Mr. Harold Hemmerich reports

INTERFIELD GLOBAL SOFTWARE INC. ANNOUNCES DELAY IN FILING OF ANNUAL FILINGS AND DIRECTOR RESIGNATION

Interfield Global Software Inc., as a result of delays in the completion of its audit, will be unable to meet the prescribed filing deadline of April 2, 2024, for filing its annual audited financial statements, chief executive officer and chief financial officer certifications of the annual filings, and accompanying management discussion and analysis for the year ended Dec. 31, 2023, as required by National Instrument 51-102 -- Continuous Disclosure Obligations. As a result, the company will also be delayed in filing of its annual information form (AIF) for the year ended Dec. 31, 2023.

The delay is a result of MNP LLP, the company's auditors requiring additional time to complete their audit. The company anticipates that it will be in a position to remedy the default by filing the annual filings no later than Monday, April 8, 2024, and will issue a news release once the annual filings have been filed. The company has made all efforts and allocated all available resources to the preparation, completion and filing of the annual filings. The company's auditors have also made significant efforts to complete their audit of the annual financial statements. Upon filing its annual filings, the company will also file its AIF. Until the company files the annual filings, it will comply (if required) with the alternative information guidelines set out in sections 9 and 10 of National Policy 12-203 -- Management Cease Trade Orders. The guidelines, among other things, require the company to issue biweekly default status reports, in the form of news releases, for so long as the annual filings have not been filed.

Until the company has filed the annual filings, members of the company's management and other insiders are subject to an insider trading blackout policy as per its internal insider trading policy that is consistent with the principles in Section 9 of National Policy 11-207 -- Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on Nov. 13, 2023, of the company's consolidated interim financial reports for the period ended Sept. 30, 2024. There are no insolvency proceedings involving the company.

The company further announces that Edward Farrauto has tendered his resignation as a director of the company, effective immediately, to focus on his other professional commitments. Mr. Farrauto has been a director of the company since Feb. 15, 2023.

Hal Hemmerich, chairman of Interfield, stated: "We would like to thank Ed for his valuable contributions as a director to the company. On behalf of the board of directors and management, I wish him all the best with his future endeavours and look forward to his continued support as a shareholder."

About Interfield Global Software Inc.

The company is a publicly listed company, with its common shares listed on the Neo Exchange Inc. and operates in Dubai, United Arab Emirates, through its wholly owned subsidiary, Interfield Software Solutions LLC. Interfield Solutions is a software company that services numerous industrial segments worldwide including oil and gas, mining and renewables. Interfield Solutions has two operating divisions, e-commerce and software as a service. Equipment Hound, the company's flagship product of its e-commerce division, is an industrial equipment marketplace that connects buyers and suppliers around the globe. Equipment Hound manages a catalogue of equipment from various suppliers and provides procurement solutions for buyers. It includes features such as requests for quotes, logistics support and third party verification. ToolSuite, the company's flagship product of its software-as-a-service division, is a cloud-based data collection and management platform that digitizes industrial processes and provides real-time auditable data for clients.

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