Ms. Ira Levy reports

REKLAIM LTD ANNOUNCES Q1 2023 RESULTS WITH RECORD REVENUE AND A 169% INCREASE IN GROSS MARGINS

Reklaim Ltd. has filed its Q1 2023 financial results.

Reklaim Highlights for Q1-2023

Q1 2023 revenue grew to $728,304, an 86% increase over Q1 2022.

A second consecutive quarter of record revenue growth

Q1 2023 revenue exceeded Q4 2022 revenue, seasonally the highest quarter of the year, by 1%, marking a new record revenue quarter for the Company.

The Company increased its gross margin by 169% from Q4-2022 to Q1-2023, from 26% to 71% in the past 90 days.

Expanded the sale of Reklaim data internationally.

Recurring revenue at 91% in Q1-2023, up from 70% in Q1-2022

Platform revenue, which represents 74% of total revenue, grew by 115% in Q1-2023 vs. Q1-2022

Reduced operating expenses by 60% in Q1-2023 vs. Q1-2022

Improved EBITDA 96% in Q1-2023 vs. Q1-2022 and 84% from Q4-2022

New revenue product 'Deals,' an end-to-end vertically integrated media buy for brands and agencies, contributed 7% to total revenue in Q1-2023 in its first month, positioning it as a new growth vertical for the Company.

"The 2023 calendar year is picking up where we left off in Q4-2022 with gross margins expanding 169% over the past 90 days and Q1-2023 revenue; usually the slowest quarter of the year, hitting a new record quarter for us," said Reklaim CEO Neil Sweeney. "With recurring revenue now at 91% and operating expenses down 60% year-over-year, we are positioned well for a profitable 2023."

"The global data market continues pivoting to consumer inclusion and privacy. Reklaim is positioned to take advantage of this massive opportunity as Fortune 500 brands look to replace historical data providers with ones that can adhere to new privacy standards," said Sweeney. "We look forward to continuing our growth and profitability trajectory in Q2 and 2023."

Full financial results, reported in CAD dollars, and Management's Discussion and Analysis are posted to SEDAR (www.sedar.com) and on the Company's investor relations website: investors.reklaimyours.com.

The Company also announces that it has extended the expiry date of an aggregate of 89,800 stock options issued on May 9, 2018, and October 4, 2018, with an exercise price of C$0.05 per common share from May 9, 2023, and October 4, 2023, respectively to May 9, 2028 and October 4, 2028, respectively (the "Amendment"). The Amendment remains subject to the approval of the TSXV.

The Company also wishes to announce a non-brokered private placement offering (the "Offering") comprising 1,500,000 units (the "Units") at a purchase price of $0.06 per Unit for aggregate gross proceeds of approximately $90,000. Each Unit consisted of one common share (a "Common Share") and one-full common share purchase warrant (each, a "Warrant"), with each Warrant exercisable to acquire one common share of Reklaim at $0.10 for 36 months from the date of issuance. If the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (the "TSXV") is more than $0.15 for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants to 30 days from the date on which the Company provides written notice to the holders of the Warrants. The Company expects to close the offer shortly.

About ReklaimConsumer data and the evolution of privacy drive Reklaim. Offering compliant, zero-party data to Fortune 500 brands, platforms, and data companies, Reklaim allows consumers to visit the application, confirm their identity, and unveil data collected and sold for years without the consumer's explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account through which, should they choose to, they can be compensated for their data. To view more information about Reklaim, visit https://investors.reklaimyours.com.

We seek Safe Harbor.