Mr. Evan Gappelberg reports

NEXTECH3D.AI SIGNS 3D MODELING EXPANSION CONTRACT WITH VORNADO AIR LLC TO BRING 3D MODELS ONTO THE PRIME MARKETPLACE

Nextech AR Solutions Corp. has signed an expansion 3-D modelling contract with Vornado Air LLC. In Q3 2022, the company attained approval as a preferred 3-D model supplier for Amazon and was granted early access to introduce customers' 3-D models into the Amazon marketplace through an exclusive early access program. Nextech was among a select few companies chosen by Amazon and granted early access based on its distinguished expertise in the field of 3-D modelling.

Nextech chief executive officer Evan Gappelberg commented: "Our position as a preferred 3-D model supplier for Amazon, which we achieved in Q3 2022, was a watershed moment for Nextech3D.ai and is a testament to the quality and innovation of our AI technology. With today's news, we announced that we have achieved yet another milestone by being granted early access to Amazon's marketplace. This means we can now start to bring our customers over the wall and onto the Amazon platform. Today we are bringing Vornado Fans, one of my favourite fan companies, which is known all over the world over for its innovative fan designs."

He continued: "Being granted this early access has significant upside for our business as it positions us as one of a very small number of companies that can bring e-commerce customers onto the Amazon platform. We are excited about the significant revenue opportunity presented by Amazon's upcoming platform expansion for 3-D models, and we believe Nextech is perfectly aligned to capitalize on this multidecade, $100-billion megatrend for 3-D models in e-commerce. We remain committed to driving innovation in the industry and delivering exceptional value to our clients and shareholders, as we continue to position ourselves as the dominant 3-D model supplier in this rapidly growing market."

In a recent article, "5 Technology Predictions for 2023 and Beyond," Werner Hans Peter Vogels made a bold statement about 3-D models and the future of e-commerce. Mr. Vogels is the chief technology officer (CTO) and vice-president of Amazon, in charge of driving technology innovation within the company. "Static 2-D product images on the Internet will become a thing of the past, replaced by 3-D models that you can pick up, rotate and place in your living room as seamlessly as you can see them in a web browser today," said Amazon CTO Mr. Vogels.

With Nextech's breakthrough generative artificial intelligence technology, the company believes it has revolutionized the 3-D modelling industry, and gained a major competitive edge, solidifying its leadership position in the global 3-D model space for e-commerce. Nextech is making it possible to create photorealistic 3-D models as digital replicas of real-world products at scale for large enterprise customers in the global $5.5-trillion e-commerce market. The company believes that a total addressable market (TAM) of $100-billion exists within the e-commerce industry for 3-D models and is available for capture.

Nextech's position as a preferred supplier for Amazon provides a significant revenue opportunity. Amazon currently has over 10 million merchants and over 300 million product SKUs (stock-keeping units), highlighting the potential for Nextech to further establish its position as a top 3-D model supplier.

About Nextech AR Solutions Corp.

Nextech AR is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3-D experiences for the metaverse. Its main businesses are creating 3-D WebAR photorealistic models for the prime e-commerce marketplace as well as many other on-line retailers. The company develops or acquires what it believes are disruptive technologies, and once commercialized, spins them out as stand-alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spinout.

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