Mr. Marcel Vienneau reports

MOBI724 ANNOUNCES ANNUAL FISCAL 2022, Q1, Q2 AND Q3 FINANCIAL RESULTS OF FISCAL 2023

Mobi724 Global Solutions Inc. has released its fiscal 2022 results for the 12 months ended Dec. 31, 2022, the first quarter ended March 31,2023, the second quarter ended June 30, 2023, and the third quarter ended Sept. 30, 2023.

Operating and financial highlights for the fourth quarter ended Dec. 31, 2022:

• Revenues of $21,000 and a deferred revenue of $120,000;
• Net loss of $998,000, a decrease of over 28 per cent when compared with the previous quarter -- the best performance in the past five quarters; the company continues to optimize its operations in a challenging environment;
• Year-over-year increase of 226 per cent of revenue and decrease of 1 per cent of operating loss between Q4 2022 and Q4 2021;
• Proceeds from the issuance of shares and warrants for private placement of $82,000;
• Proceeds from a convertible debenture for total cash consideration of $396,000;
• Cash of $311,000 and restricted cash equivalents of $418,000 for a total of $729,000 as of Dec. 31, 2022.

Operating and financial highlights for Q1 ended March 31, 2023:

• Revenues of $120,000 and deferred revenue of $132,000;
• Revenue increased by 471 per cent: $120,000 in revenues in the first quarter of 2023 compared with $21,000 for the fourth quarter of 2022;
• Operating loss of $925,000, a decrease of over 40 per cent when compared with the previous quarter ($1,564,000 in Q4 2022);
• Year-over-year increase of 7 per cent of revenue and decrease of 12 per cent of operating loss between Q1 2023 and Q1 2022;
• Proceeds from the issuance of shares and warrants for private placement of $417,000 and issuance of convertible debenture of $700,000;
• Cash of $502,000 as of March 31, 2023.

Operating and financial highlights for Q2 ended June 30, 2023:

• Revenues of $264,000 and a deferred revenue of $274,000;
• Revenue increased by 120 per cent: $264,000 in revenues in the second quarter of 2023 compared with $120,000 for the first quarter of 2023;
• Operating loss of $571,000, a decrease of over 38 per cent when compared with the previous quarter ($925,000 in Q1 2023);
• Year-over-year increase of 98 per cent of revenue and decrease of 40 per cent of operating loss between Q2 2023 and Q2 2022;
• Cash of $262,000 as of June 30, 2023.

Operating and financial highlights for Q3 ended Sept. 30, 2023:

• Revenues of $507,000 and a deferred revenue of $119,000;
• Revenue increased by 92 per cent: $507,000 in revenues in the third quarter of 2023 compared with $264,000 for the second quarter of 2023;
• Operating loss of $242,000, a decrease of over 58 per cent when compared with the previous quarter ($571,000 in Q2 2023);
• Year-over-year increase of 612 per cent of revenue and decrease of 81 per cent of operating loss between Q3 2023 and Q3 2022;
• Cash of $41,000 as of Sept. 30, 2023.

The company will announce the holding of a webinar to be held one week before the company resumes to trade to give the company's view of the past four quarterly results and provide guidance for 2024 and beyond," said Marcel Vienneau, chief executive officer of Mobi724.

This press release should be read in conjunction with the company's condensed interim consolidated financial statements and the company's management's discussion and analysis for the 12-month period ended Dec. 31, 2022. These documents and additional information can be viewed under Mobi724's company profile on SEDAR+.

Cease trade update

Due to the company's inability to file its 2022 annual audited financial statements, the Autorite des marches financiers issued a permanent cease trade order on June 30, 2023. Now with the filing of the 2022 AFS, as well as the unaudited interim financial statements for Q1, Q2 and Q3 2023, the company will be in a position to file an application for the full revocation of the cease trade with the AMF.

About Mobi724 Global Solutions Inc.

Mobi724 (TSX Venture Exchange: MOS), headquartered in Montreal, Canada, is a pioneering artificial-intelligence-powered adtech and fintech company. The company offers an innovative white label solution tailored for payment card issuers, payment card acquirers, merchants, brands and advertisers. Its state-of-the-art and hyperpersonalized capabilities utilize artificial-intelligence-driven real-time payment-card-linked technology. This empowers the platform to deliver seamless digital campaigns, rewards, cashback offers and advertising-driven actionable intelligence -- all in real time, with every payment transaction at the point of purchase, hence its motto, "Every transaction is an opportunity." Mobi724's objective is to add a layer of artificial-intelligence-driven actionable intelligence to every payment transaction, creating engaging consumer experiences and generating incremental commercial opportunities.

We seek Safe Harbor.