Mr. Hubert Lau reports

TRUSTBIX INC. ANNOUNCES JUNE 30, 2023 THIRD QUARTER FINANCIAL RESULTS

Trustbix Inc. today released its financial results for the third quarter ended June 30, 2023, and its related management's discussion and analysis (MD&A).

For the three months ended June 30, 2023, compared with 2022, the company posted:

• Revenue of $432,910, up $42,414 or 10.9 per cent;
• Operating expenses of $952,502, down $701,946 or 42.4 per cent;
• Non-cash operating expenses related to stock-based compensation to incentivize the company's team. and amortization and depreciation expense decreased to $178,505, down $251,232 or 58.5 per cent;
• Excluding these non-cash items, operating expenses decreased by $450,714 or 36.8 per cent.

For the nine months ended June 30, 2023, compared with 2022, the company posted:

• Revenue of $1,530,293, up $305,810 or 25.0 per cent;
• Operating expenses of $3,504,837, down $565,533 or 13.9 per cent;
• Non-cash operating expenses related to stock-based compensation to incentivize the company's team, and amortization and depreciation expense increased to $708,760, up $50,095 or 7.6 per cent;
• Excluding these non-cash items, operating expenses decreased by $615,628 or 18.0 per cent.

"The Trustbix board of directors and management team continues to focus on revenue growth and organizational efficiencies. Building off its significant drive for profitability and sustainability, the company was able to achieve a reduction in total operating expenditures of 42 per cent during the third quarter of 2023. This commitment is further evidenced by a 25-per-cent increase in the 2023 year-to-date revenue. These found organizational efficiencies and drive to shareholder value have well positioned the company to enter into the letter of intent to acquire 100 per cent of Alberta Food Security Inc., as announced on Aug. 14, 2023," said Hubert Lau, Trustbix chief executive officer.

The company's financial results for the third quarter ended June 30, 2023, and the related MD&A, have been filed and are available on SEDAR+.

About Trustbix Inc.

The vision is to create a world where people trust more and waste less by leveraging Trustbix and its technology solutions. Trustbix delivers independent validation of provenance and sustainable practices within multiple supply chains and industries.

Trustbix location services offer solutions to supply chains that bring situational awareness for high-value assets.

ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in North America and China.