Mr. Chuck Myers reports

QUARTERHILL ANNOUNCES CLOSING OF RED FOX ACQUISITION

Quarterhill Inc. has completed the previously announced acquisition of Red Fox I.D. Ltd.

Based in Haddenham, England, Red Fox is a profitable and growing provider of automatic vehicle detection and classification (AVDC) software to the tolling industry. AVDC is responsible for the detection, classification and tracking of a vehicle as it enters and exits a tolling facility. Red Fox's Quantum software platform is able to process captured data from both LiDAR and "in pavement" inductive loops, making it unique in the market and at the forefront of advanced AVDC solutions.

"The Red Fox transaction met both our strategic and financial criteria for an acquisition, and we are pleased to welcome their team to Quarterhill," said Chuck Myers, chief executive officer of Quarterhill. "Red Fox is a leader in AVDC software, and their products are an ideal fit with our increasing focus on technology as a differentiator in the market. We expect the acquisition to be immediately accretive to cash flow and adjusted EBITDA, and we look forward to investing further in their product platform and capabilities."

For more information on Red Fox, visit its website.

About Quarterhill Inc.

Quarterhill is a leading provider of tolling and enforcement solutions in the intelligent transportation system (ITS) industry. Its goal is technology-driven global leadership in ITS, via organic growth of its tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets.

We seek Safe Harbor.