Mr. Hubert Lau reports

TRUSTBIX INC. ANNOUNCES DECEMBER 31, 2023 FIRST QUARTER FINANCIAL RESULTS

Trustbix Inc. has released financial results for the first quarter ended Dec. 31, 2023, and the related management's discussion and analysis.

"I consider Q1 2024 to be a turning point for Trustbix. We completed the strategic review and implementation of operational changes, which has allowed us to focus on our ViewTrak and indoor farming businesses. Our aggressive and strategic changes have allowed us to realize a reduction in total operating expenses of 57 per cent in Q1 2024, as compared to Q1 2023. The team has laid the foundation for future growth," said Hubert Lau, Trustbix chief executive officer.

For the three months ended Dec. 31, 2023, compared with 2022, the company posted:

• Revenue of $294,554, down $124,270 or 29.7 per cent;
• Operating expenses of $525,865, down $709,041 or 57.4 per cent;
• Non-cash operating expenses (recovery) related to stock-based compensation to incentivize its team and amortization and depreciation expense decreased to $23,504, down $288,291 or 92.5 per cent;
• Excluding these non-cash items, operating expenses decreased by $420,750 or 45.6 per cent.

The company's financial results for the first quarter ended Dec. 31, 2023, and the related management's discussion and analysis, have been filed and are available on SEDAR+.

About Trustbix Inc.

Trustbix is an agricultural technology company, providing gate to plate solutions to create a world where there is more trust and less waste and sustainable practices are rewarded. Its award-winning technologies offer practical tools trusted by local and international agrifood organizations.

We seek Safe Harbor.