Mr. Michael Robb reports

AIRIQ ANNOUNCES STRATEGIC ACQUISITION

AirIQ Inc. acquired certain assets, including customers, video telematics software solutions, URLs (uniform resource locators), licences and other marketing assets, from a privately held IoT (Internet of things) services company on Oct. 31, 2025.

The acquired customers have over 1,000 devices that generate approximately $450,000 in total annual recurring revenues with margins of more than 70 per cent. In addition, approximate hardware revenues of $300,000 have been generated by the acquired assets of the business during the previous 12 months. The acquired assets have generated approximately $225,000 in EBITDA (earnings before interest, taxes, depreciation and amortization) during the previous 12 months. The amounts have not been audited.

The purchase price for the acquisition is up to a maximum of $850,000, with $600,000 paid in cash on closing, with $150,000 held in escrow. The transaction also includes a potential earnout of up to $100,000 provided that certain increases in gross profit dollars are achieved during the 12-month period following the date of closing. The acquisition is being financed by operating cash on hand. The acquisition price does not include closing costs.

The company also entered into a transition services agreement with the principals of the acquired asset business for a period of one year to ensure a smooth transition of customers, know-how, operating processes and sales growth.

"We are pleased to have been able to acquire these strategic assets. The immediate positive impact of the acquired base of customers with high margin recurring revenues provides another significant step forward in our growth strategy," stated Mike Robb, president and chief executive officer of AirIQ. "The acquired assets also include a new video telematics solution offering for which the company has immediate demand from customer opportunities in our growth channels," continued Mr. Robb.

About AirIQ Inc.

AirIQ was founded in 1997 and is a pioneer in IoT-based asset management solutions. AirIQ's solutions allow commercial businesses to reliably, effectively and efficiently monitor assets in near real time. The company develops iOS and Android mobile and Web-based applications, and cloud-based solutions that stand alone or that can be readily integrated with existing software. AirIQ solutions are mixed fleet capable and provide fleet reporting, maintenance, compliance, safety and analytics utilizing multiple hardware options, including a fully integrated video telematics camera solution and a battery powered solution for non-powered assets.

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