Mr. Buck Marshall reports

MISSION READY REPORTS Q1-2023 FINANCIAL RESULTS

Mission Ready Solutions Inc. has released its condensed consolidated interim financial statements for the three months ended March 31, 2023 (Q1 2023).

The following are highlights for Q1 2023 (all dollar figures are quoted in Canadian currency unless otherwise specified) (1) (2):

• Gross revenues: $980,000;
• Gross margin: 67 per cent;
• Net loss: $820,000;
• Decrease in operating expenses: 27 per cent.

(1) The improved margin (relative to recent periods) reflects generally higher margins on products manufactured in-house without the influence of lower-margin government contracts.

(2) As compared with the previous year.

The condensed consolidated interim financial statements for the three months ended March 31, 2023, and the associated management's discussion and analysis (MD&A) are available on SEDAR under the company's profile.

The company also provides additional insight into the fire and emergency services equipment (F&ESE) tailored logistics support (TLS) program. The F&ESE TLS program includes the total logistics support for the fire and emergency services requirements of the Defense and Logistics Agency (DLA) customers, including military installations and federal activities worldwide.

"The F&ESE TLS program is ingrained in Unifire's DNA and has paved the way for our success in the government contracting space," said Dan Raczykowski, director of Mission Ready and president of Unifire Inc. "In light of our significant efforts to enhance our financial position, it was a natural progression for us to seize this solicitation and return to our roots. This opportunity not only aligns with our expertise and deep understanding of the market but also holds great potential for optimized revenue generation."

The company responded to the solicitation SPE8EH-21-R-0001 issued on March 22, 2022. The company recently received and subsequently accepted an extension request of the company's offer until the end of September, 2023.

About the F&ESE TLS program

The F&ESE TLS program is a multiple-award program with postaward competition of delivery orders, primarily focused on maintaining continuity of support for fire and emergency support personnel worldwide. Products and solutions typically sought through the program include fire and emergency services equipment, as well as related supplies and incidental services, including, but not limited to hoses, hose fittings, nozzles, tools, fire extinguishers, extinguishing agents, poles, ladders, rescue devices, self-contained breathing apparatus (SCBA) and other respiratory protection, shovels, regulators, uniforms, station and training wear and equipment, structural, shipboard, and forestry turnout gear and other protective products (gloves, boots, helmets, hoods, goggles, and protective clothing used for environmental, industrial, HAZMAT, weapons of mass destruction, terrorism, and first response personal protection), first response search and rescue equipment and supplies, decontamination equipment, detection equipment, communication equipment and tools, suppression equipment, surveillance and alarm systems and system parts, propane and other fire and first responder training systems, and other first responder equipment, emergency station vehicle exhaust and ventilation systems, breathing air compressors, emergency egress, exit and protective systems, pumps, generators, storage, containment, and racking systems.

About Mission Ready Solutions Inc.

Mission Ready provides comprehensive government contracting solutions with extensive experience in delivering quality, mission-critical products and services for law enforcement, firefighters, first responders, military and other governmental agencies.

Through its privileged access to a host of federal contracting vehicles, including multiple-award schedule (MAS) contracts awarded and administered by the United States General Services Administration, Mission Ready's wholly owned subsidiary, Unifire, leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.

We seek Safe Harbor.