Mr. Yossi Nevo reports

SPETZ ANNOUNCES RESULTS FROM FIRST QUARTER ENDING MARCH 31, 2023

Spetz Inc. has released its financial results for the first quarter ended March 31, 2023.

Highlights:

• Revenue increased by 2,726 per cent to $518,000 for Q1 2023 compared with $19,000 in the three months ended April 30, 2022. The comparative period represents operations of DigiMax Global Inc. prior to the acquisition of Spetz Tech Ltd. on Aug. 17, 2022, and subsequent focus on the current Spetz operations in the last quarter of 2022.
• Loss from continuing operations decreased by 17.6 per cent to $884,000 for Q1 2023 compared with $1,074,000 in Q1 2022.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss, as defined in management's discussion and analysis, decreased by 37.3 per cent to $410,000 for Q1 2023 from $654,000 in Q1 2022. The company is actively reducing costs to achieve positive EBITDA as soon as possible.

The company is fully committed to achieving positive cash flow as soon as possible as evidenced by reducing discretionary expenses and requesting certain consultants and the chief executive officer being compensated in non-cash restricted share units.

Yossi Nevo, Spetz's CEO, commented: "We have decided to take 2023 and turn it into a year of efficiency, our intentions are to significantly decrease our expenses and increase our profitability, so we are focusing on the most profitable markets. We all know that it is not a favourable time, and the markets are challenging. We are determined to move forward and achieve our goals."

For full financial information, notes and management commentary, please refer to the company's management's discussion and analysis and financial statements posted on the company's website and available on SEDAR. All financial information is provided in U.S. dollars, unless other indicated. In addition, all financial information provided herein is unaudited unless otherwise stated.

The comparative figures have been restated into U.S. dollars as the company changed its reporting currency from Canadian dollars to U.S. dollars, effective Sept. 30, 2022.

About Spetz Inc.

Spetz is a multinational technology company that operates the Spetz application, a global, on-line, artificial-intelligence-powered marketplace platform that dynamically connects consumers to nearby top-rated service providers in around 30 seconds. Spetz is available in the United States, United Kingdom, Australia and Israel.

The Spetz vision is to reinvent how people around the world connect to services in their moment of need. Connecting them immediately with the top-matched service provider, for any need, any time, anywhere.

We seek Safe Harbor.