An anonymous director reports

QUARTERHILL ANNOUNCES UPDATED CREDIT AGREEMENT

Further to its press release dated June 15, 2023, Quarterhill Inc.'s subsidiary, Quarterhill ITS Inc., has completed an updated credit agreement with its existing syndicate of bank lenders led by HSBC Bank Canada.

Under the terms of the amended credit agreement, Quarterhill ITS will be granted a covenant relief period by the syndicate through Dec. 31, 2023. Other terms and conditions to the amended credit agreement are customary for transactions of this nature.

About Quarterhill Inc.

Quarterhill is a leading provider of tolling and enforcement solutions in the intelligent transportation system (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in intellectual property licensing. The company's goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants LLC (ETC) and International Road Dynamics Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets.

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