Mr. Mike Reinhart reports

QUISITIVE BOARD UPDATE

Quisitive Technology Solutions Inc. has provided the following update regarding the reconstitution of the company's board of directors announced on Oct. 12, 2023.

In the weeks prior to the Oct. 12, 2023, announcement, the company engaged with its shareholders about Quisitive's strategic direction and board composition. During those discussions, Quisitive communicated that it was open to reconstituting its board in a manner consistent with the best interests of the company and all its shareholders.

One group of shareholders, including Shawn Skelton, Elmcore Group Inc., care of Felix Danciu, Jason Hardy and Scott Hardy (the dissident group), had previously publicly indicated that it wanted majority control of Quisitive's board to execute on an undefined business plan. After discussions with other shareholders, the company concluded that there was not broad support for the demands of the dissident group. Nevertheless, the board determined that it was prepared to invite two of the individuals currently being put forward as director nominees by the dissident group to join Quisitive's board as part of a consensual board reconstitution being discussed with other shareholders. After having listened to input from other shareholders and having considered his background and experience, the board also determined that it would not support the third individual put forward by the dissident group to join the board as it did not believe that the individual's involvement on the board would be in the best interests of the company and all its shareholders.

After discussions with the dissident group broke down, the board continued to move forward with its plan to reconstitute the board in accordance with the recommendations of its independent directors and having regard to the company's engagement with shareholders. As a result, the company announced on Oct. 12, 2023, that one director had resigned, and two new independent directors had been added to the board, bringing the total number of directors to six. The two new directors, Nick Lim and Darcy Morris, are well known to, and deeply respected within, the Canadian institutional shareholder community, and bring meaningful experience and expertise in public board governance and public markets.

The reconstituted board is committed to providing effective and independent oversight, governance and strategic direction to the company, and will take all actions necessary to create sustainable shareholder value at Quisitive. The reconstituted board looks forward to reporting on progress being made in due course. The company does not intend to further respond to public statements by the dissident group, as the reconstituted board remains focused on the pursuit of the company's business objectives for the benefit of all shareholders.

About Quisitive Technology Solutions Inc.

Quisitive is a premier, global Microsoft partner that harnesses the Microsoft cloud platform and complementary technologies, including custom solutions and first party offerings, to generate transformational impact for enterprise customers. The company's cloud solutions business focuses on helping enterprises move, operate and innovate in the three Microsoft clouds. The company's payments solutions division, leverages the PayiQ platform powered by Microsoft Azure to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from 17 employee hubs across the world.

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