Mr. Clayton Moore reports

NETCENTS TECHNOLOGY PROVIDES AUDIT UPDATE

NetCents Technology Inc. has made progress in addressing regulatory inquiries and filing audited financial statements.

Over the past few months, the NetCents team has been diligently compiling its 2021 financial statements in advance of its 2021 year-end audit. Following the completion of the 2020 filings in October, 2022, the company received numerous informational requests from the British Columbia Securities Commission (BCSC) during the period from October, 2022, through February, 2023. These requests included auditor's work papers and other documents regarding the 2020 audited financial statements. NetCents promptly responded to all inquiries from the BCSC, demonstrating its commitment to transparency and co-operation. It is important to note that at this time no regulatory actions have been taken against the company.

"Despite the numerous challenges, unexpected delays and regulatory obstacles, the journey of witnessing the pioneering evolution of accounting in the cryptocurrency sector has been a necessary and enlightening process. Frustrations arose from setbacks and regulatory hurdles, but they have also served as catalysts for growth and development, revealing the industry's resilience and adaptability. As a result, a sense of optimism persists, fuelled by the groundbreaking progress that continues to unfold in this rapidly evolving field," stated Clayton Moore, founder and chief executive officer, NetCents Technology.

The company believes that the heightened level of oversight results from regulatory uncertainty in the cryptocurrency industry, the volatile nature of cryptocurrencies and its delayed filings. However, NetCents intends to reasonably address all inquiries and has taken this opportunity to improve its processes, ensuring the delivery of reliable and transparent financial information to its shareholders.

In the coming weeks and months, NetCents will continue to focus on filing all regulatory financial reports with the purpose of lifting the trading halt on its common stock. The company expresses its gratitude for the continuing support of its shareholders and reaffirms its commitment to driving the growth of NetCents.

On March 1, 2023, the company updated investors with its key performance indicators, illustrating solid performance from its continuing marketing and sales efforts. The momentum continued in April of this year, with another record month of processing volumes. April's transactional volumes alone exceeded the first three months of calendar year 2022, combining this with the first five months of FY 2023 and the company is on schedule for FY 2023 results to nearly double its FY 2022 volume results.

As of today, the company continues to be subject to a cease trade order and is working diligently to complete the annual financial statements for the fiscal years ending Oct. 31, 2021, and Oct. 31, 2022.

About NetCents Technology Inc.

NetCents, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a money services business (MSB) with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).

We seek Safe Harbor.