Mr. Sujeet Kini reports

SYLOGIST ANNOUNCES INTENTION TO MAKE A NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Sylogist Ltd.'s notice of intention to make a normal course issuer bid (NCIB) in place effective Nov. 21, 2023. Sylogist believes that, from time to time, the market price of the Sylogist common shares may not reflect their underlying or intrinsic value and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of and be advantageous to all remaining holders of common shares.

As of Nov. 13, 2023, there are 23,573,677 common shares issued and outstanding, 22,734,092 of which shares constitute the public float. Under the NCIB, Sylogist is permitted to purchase up to 2,273,409 common shares, which is 10 per cent of the public float. The average daily trading volume (ADTV) for the six months prior to date of the NCIB (being May, 2023, to October, 2023) was 29,510 common shares and the daily purchase limit under the NCIB (being 25 per cent of the ADTV) will be 7,377 common shares. Sylogist, through its broker at BMO Nesbitt Burns, will purchase the common shares on the open market through the facilities of the TSX and/or alternative Canadian trading systems. The price which Sylogist will pay for any common shares purchased will be the prevailing market price of such common shares at the time of purchase. Decisions regarding purchases of common shares pursuant to the NCIB will be made by Sylogist. The common shares acquired pursuant to the NCIB will be cancelled. The NCIB, if approved, will terminate on the earlier of: (i) Nov. 20, 2024; or (ii) when permitted purchases thereunder are completed. Sylogist may otherwise elect to terminate the NCIB at any time.

The NCIB follows the expiration of Sylogist's previous normal course issuer bid, under which Sylogist had approval from the TSX to purchase up to 2,281,177 common shares and which was effective from Nov. 17, 2022, and expired on Nov. 16, 2023. Under Sylogist's previous normal course issuer bid and as of the date of Nov. 16, 2023, Sylogist completed the purchase of 342,200 common shares on the TSX at a weighted average price of $5.78 per share.

About Sylogist Ltd.

Sylogist provides mission-critical SaaS (software as a service) solutions to over 2,000 public-sector customers globally across the government, non-profit and education verticals. The company's stock is traded on the TSX under the symbol SYZ.

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