Mr. Kyle Hall reports

INEO ISSUES NOTICE OF MATERIAL BREACH TO BON INTELLIGENCE AND TERMINATES RESELLER AGREEMENT

Ineo Tech Corp.'s wholly owned subsidiary, Ineo Solutions Inc., has delivered a formal notice of material breach to Bon Intelligence Inc. under the licence agreement between Ineo Solutions and Bon dated May 27, 2025.

The notice identifies multiple material breaches of the licence agreement. These include, among other things, failure to meet payment and reporting obligations.

Ineo Solutions has demanded that Bon remedy the identified breaches within the applicable contractual cure periods. If Bon fails to cure the breaches within those cure periods, Ineo Solutions intends to proceed promptly with termination of the licence agreement, and will pursue all other rights and remedies available under the licence agreement and at law.

There can be no assurance that Bon will cure the breaches identified in the notice or that the licence agreement will continue in effect. The company is assessing the accounting impact of these matters and, based on its preliminary review, notes that $206,625 of revenue was recognized in the quarter ended June 30, 2025, in connection with the Bon agreement. This revenue may be subject to write-off or other adjustment, depending on the outcome of the company's review and discussions with its auditor.

Separately, Ineo Solutions has delivered notice terminating the reseller agreement between Ineo Solutions and Bon dated Jan. 30, 2025, effective immediately, pursuant to Ineo Solutions' contractual rights. As a result, Bon is no longer authorized to market, sell, distribute or represent itself as a reseller, distributor or agent for Ineo products or services. Ineo Solutions has also demanded that Bon cease any such representations immediately.

About Ineo Tech Corp.

Ineo Tech builds technology at the intersection of in-store retail media and loss prevention. Through its wholly owned subsidiary Ineo Solutions, the company operates the Ineo media network, a digital signage and retail analytic platform, and Ineo retail media, which sells and manages advertising across in-store screens. Ineo's patented integration of electronic article surveillance pedestals with digital displays helps retailers reduce theft while generating incremental media revenue from the same footprint. Ineo is headquartered in Surrey, B.C., Canada, and is publicly traded on the TSX Venture Exchange (INEO) and the OTCQB (INEOF).

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