Ms. Christina Boyd reports

TENET AND THE INDUSTRIAL BANK CO. ADD NEW SERVICES TO EXISTING AGREEMENT FOLLOWING TIGHTER SYSTEM INTEGRATION

Tenet Fintech Group Inc. has signed a new agreement with the Industrial Bank Co. Ltd. (CIB) to add payment processing, financing and other Cubeler business hub-related services to its existing service agreement, following a tighter integration of the Cubeler business hub's Gold River module to CIB's systems.

The original agreement between Tenet and CIB, signed in April, 2022, was primarily to allow Cubeler business hub members to open real world bank accounts at CIB that would be linked to their Cubeler business hub accounts. Tenet had been looking for a banking partner to offer its members real bank accounts contained within the Cubeler business hub that would be linked to their Gold River accounts. This was meant to be an alternative to the virtual bank accounts that had been made available to Cubeler business hub members through Tenet's partnership agreement with China UnionPay subsidiary Rongbang Technology Ltd. Tenet believes that the fact that the Rongbang agreement led to the company becoming one of the most important B2B (business-to-business) transaction processing contributing clients on the China UnionPay network in 2022, accounting for over 13.37 billion RMB (renminbi) (approximately $2-billion) worth of transactions, was likely a contributing factor to a closer collaboration between the company and CIB.

While Tenet's original agreement with CIB involved a certain level of system integration to allow the Cubeler business hub to share and send data to CIB's systems to allow for the opening of the bank accounts, and to grant Tenet oversight of the bank accounts, the level of information flowing from CIB's systems back to the Cubeler business hub was very limited. The tighter system integration between the parties now allows for more information to flow in both directions, which, in turn, allows for the additional services to be provided.

"As China's eighth-largest bank, CIB's potential to lend and extend credit brings a completely different element to the Cubeler business hub in China," commented Liang Qiu, chief executive officer of Tenet's Chinese operations. "We have invested a great deal of energy in this relationship, particularly on the system integration work with the Hangzhou branch, without whose co-operation today's announcement would not have been possible. We have no doubt that our members will soon benefit from CIB's service offerings as we continue our efforts to bring lending partners, in both China and Canada, with greater lending capabilities to the Cubeler business hub to better serve our existing members and attract new ones," concluded Mr. Qiu.

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 Cubeler 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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