Ms. Tracy King reports

MARTELLO ANNOUNCES STOCK OPTION GRANT PURSUANT TO LONG TERM INCENTIVE PLAN APPROVED BY SHAREHOLDERS

Martello Technologies Group Inc., has granted 11.5 million stock options to certain directors and officers of the company, pursuant to the omnibus long-term incentive plan (LTIP) approved by shareholders of the company at the annual general and special meeting of shareholders on Sept. 28, 2022.

The options are exercisable into one common share in the capital of the company at a price of five cents per share. The options will vest in equal annual instalments over 36 months and expire five years from the date of grant.

On Sept. 28, 2022, at Martello's annual general and special meeting, shareholders approved an ordinary resolution approving the company's LTIP. The number of shares issuable pursuant to the LTIP is set at 10 per cent of the aggregate number of shares of the company issued and outstanding from time to time. Martello adopted the LTIP following an update to TSX-V Policy 4.4 -- Security Based Compensation, which allows for other forms of security-based compensation. Martello's board of directors determined it to be in the best interests of the company to proceed with the approval of the LTIP on Aug. 4, 2022, to supersede and replace the legacy stock option plan. A summary of the material terms of the LTIP can be found in the management information circular dated Aug. 19, 2022, available on SEDAR.

About Martello Technologies Group Inc.

Martello is a technology company that provides monitoring solutions to optimize the Microsoft modern workplace. The company's products provide actionable insight on the performance and user experience of cloud business applications, while giving information technology (IT) teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams end-user experience monitoring and optimization. Martello is a public company headquartered in Ottawa, Canada, with employees in Europe, North America and the Asia-Pacific region.

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