Mr. Jeffrey Sherman reports

TELESCOPE INNOVATIONS PRESENTS RESULTS OF SECOND FISCAL QUARTER 2024

Telescope Innovations Corp. has released its financial results and operational highlights for the fiscal quarter ended Feb. 29, 2024. The company generated revenues of $686,205 during this period, driven by strong sales performance of its flagship product, DirectInject-LC. Operational highlights during the quarter include new intellectual property, global distribution of Telescope's flagship product, a new technology partnership and a strengthened C-suite.

Financial highlights of the fiscal quarter (and year to date) ended Feb. 29, 2024

All values are represented in Canadian dollars.

• Revenues of $686,205 for fiscal quarter and $2,191,057 year to date (versus $816,328 for fiscal quarter and $1,327,393 year to date for comparable periods in fiscal 2023);
• Expenses of $1,227,418 for fiscal quarter and $2,517,272 year to date (versus $805,015 for fiscal quarter and $1,586,315 year to date for comparable periods in FY 2023).

Operational highlights

The company has been investing in its research and development capacity, technology commercialization efforts, and corporate growth in Q2, 2024. These efforts have culminated in the following achievements:

• New intellectual property: Telescope filed two provisional patents on the production and purification of battery materials, including lithium sulphide and lithium carbonate.
• Global distribution agreement for flagship product: Telescope's DirectInject-LC systems are now being internationally distributed by Mettler Toledo, a market leader in scientific instrumentation.
• New technology partnership: The company has partnered with Shimadzu Scientific Instruments to integrate DirectInject-LC technology with Shimadzu's industry-standard analytical instruments. This effort aims to broaden the adoption potential of DirectInject-LC, which is already compatible with several other ecosystems including Agilent and Waters.
• Strengthened C-suite: The company welcomed Henry Dubina as chief executive officer and John Kirincic as chief financial officer. Mr. Dubina brings 35 years of experience in the scientific instruments industry, including a 20-year tenure as president and head of Mettler-Toledo Autochem. Mr. Kirincic has served in various financial and operating leadership roles for over 20 years, including chief financial Officer to numerous growth-stage companies. The company's enhanced C-suite is well positioned for strategic and sustainable growth.

Jeffrey Sherman, chief operating officer of Telescope, commented, "We continue to see increasingly strong market demand for Telescope's offerings, both for our enabling automation technologies like DirectInject-LC, as well as for process innovation in the pharmaceutical and chemical industries."

Readers are encouraged to review the full financial statements and accompanying management discussion and analysis for the quarter ended Feb. 29, 2024, both of which are available under the profile for the company on SEDAR+.

About Telescope Innovations Corp.

Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency and data quality. The company's aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.

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