Mr. Paul Ghezzi reports

KONTROL TECHNOLOGIES ANNOUNCES NEW INTENDED NORMAL COURSE ISSUER BID THROUGH CBOE CANADA

Kontrol Technologies Corp. intends to implement a new normal course issuer bid program to buy back common shares of Kontrol through the facilities of Cboe Canada and/or alternative trading systems.

The NCIB has been approved by Kontrol's board of directors and accepted by Cboe Canada, and will be executed in accordance with the applicable rules and polices of Cboe Canada and any applicable Canadian securities laws. Pursuant to the NCIB, Kontrol may purchase, from time to time, over a period of 12 months starting April 5, 2024, and ending April 4, 2025, up to 2,886,883 common shares (being approximately 5 per cent of the issued and outstanding common shares of the company).

On any given day, during the NCIB, Kontrol may only purchase up to 20,893 common shares, which are equivalent to 25 per cent of the average daily trading volume of 83,570 calculated based on the trading volumes over the past six months, and may purchase once per calendar week, in a block trade, a greater number of common shares.

Purchases under the NCIB may commence as of April 5, 2024, and will end on the earlier of: (i) April 4, 2025; or (ii) the date on which Kontrol has purchased the maximum number of common shares to be acquired under the NCIB. All purchases made will be through the selected purchasing member, PI Financial Corp., acting on behalf of Kontrol. The purchases will be made in accordance with the rules of Cboe Canada, through the facilities of Cboe Canada or through alternative trading systems. The actual number of common shares which will be purchased, the timing of such purchases and the price at which the common shares will be purchased by Kontrol will be aligned with the rules and policies of the Cboe Canada listing manual. The common shares purchased under the NCIB will be cancelled.

Under its prior NCIB that commenced on Aug. 8, 2022, and expired on Aug. 7, 2023, Kontrol had sought and received approval from Cboe Canada to purchase up to 2,431,898 common shares. Kontrol purchased 17,000 common shares under its prior NCIB through open market purchases on Cboe Canada at a weighted-average price of $1.03.

Kontrol's board of directors believes that the market price of Kontrol's common shares may, from time to time, not reflect the underlying value of Kontrol, specifically its growth opportunities, and that the proposed purchasing of its common shares is in the best interests of Kontrol and represents an appropriate use of corporate funds. It is expected that any purchases made by Kontrol could also enhance value and liquidity for its shareholders.

About Kontrol Technologies Corp.

Kontrol, a Canadian public company, is a leader in smart buildings and cities through Internet of Things, cloud and software-as-a-service technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

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