Mr. Tim Harvie reports

SPOTLITE360 PROVIDES BI-WEEKLY STATUS REPORT

Spotlite360 IOT Solutions Inc. has provided this update on the status of a management cease trade order granted on May 2, 2023, by the British Columbia Securities Commission under National Policy 12-203, Management Cease Trade Orders.

On May 2, 2023, the company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management discussion and analysis for the fiscal year ended Dec. 31, 2022, beyond the period prescribed under applicable Canadian securities laws.

The company reports that the audit is progressing and will provide a further update on the timing of its annual filings on or about May 30, 2023.

During the MCTO, the general investing public will continue to be able to trade in the company's listed common shares. However, the company's chief executive office and chief financial officer will not be able to trade in the company's common shares.

Other than as disclosed in this news release, there are no material changes to the information contained in the default announcement. The company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue biweekly default status reports for so long as it remains in default of the annual filings requirement.

About Spotlite360 IOT Solutions Inc.

Spotlite360 provides a fully integrated SaaS-based (software as a service) enterprise tracing, tracking and collaboration solution that companies trust to achieve more sustainable and better-performing supply chains. Spotlite360's solution is built on a scalable and fully customizable platform that leverages a broad array of RFID (radio frequency identification), IoT (Internet of Things) and sensor technologies to provide item-level visibility, proof of origin, authenticity and chain of custody to its customers in pharmaceutical, health care and agriculture. Companies across all industries are needing to invest in more resilient, adaptable and collaborative supply chains in order to remain competitive. Current demand by consumers for proof of ESG (environmental, social and governance) pressure across all industries to become more sustainable, new regulatory and legal requirements; and the need for companies to become more efficient are some of the factors contributing to demand for supply chain solutions. Spotlite360 will leverage its proven supply chain tracing and tracking solutions to meet this demand and transform logistics workflows for enterprise clients in its target markets.

We seek Safe Harbor.