Ms. Carol Penhale reports

TENET ANNOUNCES FURTHER STREAMLINING AND COST REDUCTIONS; CFO LEAVING COMPANY

Tenet Fintech Group Inc.'s focus continues to be the development of the Business Hub, completing a full review of technology development and viability in the Canadian operations, in addition to streamlining operations, senior management and costs to better reflect the venture the Canadian business represents.

Carol Penhale, interim chief executive officer and chair of the Tenet board of directors, stated: "Since April 28, 2023, the company has reduced monthly expenses initially by approximately 25 per cent with a goal of reaching over a 40-per-cent to 50-per-cent reduction in the near term. As of today, the company has further reduced expenses by approximately 10 per cent."

As part of the company's management transition, Jean Landreville has left the company as chief financial officer, effective immediately. A search for a new CFO is under way.

Ms. Penhale concluded: "As we continue to refine the leadership team, we expect to be well prepared to fine-tune Tenet's strategy and direction going forward. During this recalibration the board remains committed to establishing better transparency and operational prudence to better position the company for success."

About Tenet Fintech Group Inc.

Tenet Fintech Group is the parent company of a group of innovative financial technology (fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet's subsidiaries provide various analytics and AI-based services to businesses and financial institutions through the Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate business-to-business transactions among its members.

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