Mr. Marcel Vienneau reports

MOBI724 GLOBAL SOLUTIONS STATUS REPORT FURTHER TO MANAGEMENT CEASE TRADE ORDER

Further to its news release dated May 2, 2023, the Autorite des Marches Financiers (AMF), Mobi724 Global Solutions Inc.'s principal regulator, has issued a management cease trade order (MCTO) dated May 2, 2023, in accordance with National Policy 12-203 -- Management Cease Trade Orders.

The company applied for an MCTO in anticipation of missing its filing deadlines of April 30, 2023, to file the annual audited financial statements and accompanying management's discussion and analysis and related chief executive officer and chief financial officer certificates for the period ended Dec. 31, 2022, as required under applicable Canadian securities laws. The delay was caused as a result of the company's former auditor not renewing its mandate and due to the long process of finding a replacement.

On May 8, 2023, the new auditor firm MNP LLP accepted the audit mandate and is currently in the process of carrying out the audit and is allocating the necessary resources to complete the review of the company, during the period ended Dec. 31, 2022.

The company expects to file the annual filings as soon as they are available, but in any event no later than June 30, 2023, and will issue a news release once the annual filings have been filed. Until the company files the annual filings, it will comply with the alternative information guidelines set out in NP 12-203. 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. Since the issuance of the default announcement on May 2, 2023, and the status report filed by press release on May 17, 2023, there has not been any material change to the information provided therein, nor has there been any failure by the company in fulfilling its stated intentions with respect to satisfying the alternative information guidelines.

During the MCTO, the general investing public will continue to be able to trade in the company's common shares listed on the TSX Venture Exchange. However, the company's chief executive officer, chief financial officer, chief operating officer, chief technology officer and all the directors will not be able to trade in the company's shares, nor will the company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the company except in accordance with legally binding obligations to do so existing as of April 30, 2023, being the date of the company's continuous disclosure default.

About Mobi724 Global Solutions Inc.

Mobi724 Global Solutions is an artificial-intelligence-powered fintech company which provides a platform that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences and generating incremental commercial opportunities to its clients.

We seek Safe Harbor.