OCAL Financial Inc. (TSXV: OCAL) ("OCAL" or the "Company") is issuing this news release to correct and replace its news release titled "OCAL Financial Signs Exclusive Agreement With SalesCloser Technologies to Deploy AI Sales Agents Across the Vehicle-Finance Journey," disseminated via Newsfile Corp. on August 13, 2026 at approximately 12:35 p.m. ET; that release incorrectly described the Company's arrangement with SalesCloser Technologies Ltd. as an "exclusive" agreement, when in fact the arrangement is not exclusive and OCAL is using SalesCloser's conversational AI sales-agent technology on a non-exclusive basis, with OCAL's own proprietary knowledge base at the core of how that technology is applied. The corrected and replacing news release is set out in full below.

Vancouver, British Columbia--(Newsfile Corp. - August 14, 2026) - OCAL Financial Inc. (TSXV: OCAL) ("OCAL" or the "Company") today announced that it will begin using conversational AI sales-agent technology developed by SalesCloser Technologies Ltd. ("SalesCloser"), applied with OCAL's own proprietary knowledge base at its core.

The technology is a delivery layer. What makes it valuable to OCAL is the Company's proprietary knowledge base, built over years of funding vehicle deals: how its credit and lender routing works, what different lenders look for, how vehicles are sourced and priced, and how customers move through the process. OCAL intends to pair SalesCloser's conversational AI agents with that knowledge base, so the agents are grounded in OCAL's own data and process rather than in generic sales scripts.

SalesCloser's technology supports AI agents that can hold real, personalized conversations with customers across voice and digital channels, including qualifying interest, answering questions and following up. Used together with OCAL's knowledge base, the aim is to engage more of the people who come to OCAL looking to finance a vehicle, more consistently, and to help guide them toward an approval.

OCAL already uses voice AI to reach and qualify prospective customers. This is a step forward from that starting point, adding more capable conversational agents that draw on the Company's own knowledge base to handle a wider range of customer interactions.

Over the longer term, OCAL sees this work as groundwork for a larger goal: building an end-to-end AI sales closer. Working with a future AI partner, OCAL intends to develop a system in which AI can take a customer through the full journey, from first contact, through financing and the structuring of an approved deal, to closing, and through to sourcing the right vehicle through the auction process. This is a future objective. It is at an early, conceptual stage, and there is no assurance that any such system will be developed or deployed on any timeline, or at all.

OCAL's approach reflects a straightforward view. The AI tools available in the market are improving quickly and are available to many companies, while OCAL's proprietary knowledge base is its own. By keeping that knowledge base at the center and using capable technology around it, OCAL intends to improve how it engages and converts customers as it grows, without giving up what makes its process distinctive.

"The technology matters, but the real value for us is our own knowledge base," said Mehdi Moghareh, Chief Executive Officer of OCAL. "We are using SalesCloser's AI agents, and we are putting our own data and process at the heart of how they work. That is what makes this useful to OCAL specifically, rather than something anyone could pick up off the shelf."

"Longer term, this points toward an end-to-end AI sales closer," added Mr. Moghareh. "With a future AI partner, our goal is a system where AI can take a customer from the first conversation through financing, closing and sourcing the vehicle. That is where we want to go, and this is an early step in that direction."

OCAL continues to build its operations on technology and data it controls, so it can scale its model without the overhead of a traditional dealership network.

About OCAL

OCAL Financial Inc. is an asset-light, AI-native virtual automotive dealership and vehicle-finance platform. Operating remotely and licensed in British Columbia and Alberta, OCAL moves customers from application to approval, vehicle matching, digital contracting and delivery in a single workflow. Rather than carrying owned inventory, OCAL sources each vehicle only after a customer is approved, drawing on wholesale vehicle auctions and select partners. OCAL earns revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit-default risk. Its technology stack, which includes workflow orchestration, a lender-routing credit-intelligence system, voice AI, and a centralized business-intelligence system, is built specifically for automotive transactions.

To learn more about OCAL, visit www.ocalfinancial.ca.

Cautionary Notes

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the Company's business plans and technology development; the use of SalesCloser's AI sales-agent technology together with the Company's proprietary knowledge base; the Company's longer-term objective of developing an end-to-end AI sales closer, with a future AI partner, intended to automate stages of the vehicle-purchase cycle from customer engagement through financing, closing and vehicle sourcing through the auction process; plans to expand into various provinces and, over time, into the United States; and, where applicable, proposed acquisitions and related appointments. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; the continued availability and performance of the SalesCloser technology; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Company and any future partner to develop and deploy the technology as intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In particular, the development of an end-to-end AI sales closer is at an early, conceptual stage and there is no assurance that any such system will be developed or deployed on the timelines described or at all. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the technology industry in general, including the development and adoption of artificial intelligence; and the risk factors disclosed under the heading "Risk Factors" in the filing statement of the Company available on SEDAR+ at www.sedarplus.ca. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309652