Mr. Ken Campbell reports

TERAGO ANNOUNCES ELECTION OF DIRECTORS

The nominees listed in the management information circular for TeraGo Inc.'s 2023 annual and special meeting of shareholders have each been either elected or re-elected as directors of TeraGo. Following the meeting, the company board composition remained at seven total directors, six of whom are independent.

TeraGo welcomed its newly elected directors, Daniel Vucinic, Fred Hrenchuk, Tina Pidgeon and Jim Watson, to its board of directors.

Mr. Vucinic

Effective June 12, 2023, Mr. Vucinic was appointed the chief executive officer of TeraGo. With three decades of experience across senior management roles throughout the technology sector, Mr. Vucinic brings a wealth of leadership and operational excellence experience. He most recently served as chief operating officer of Centrilogic Inc., a global provider of IT (information technology) transformation solutions, where he led all operations functions to support customers' end-to-end cloud and digital transformation journeys, and drove significant enterprise value creation. Mr. Vucinic also served in several executive roles at Zayo and Allstream, two global communications companies, where he also played a pivotal role in driving significant enterprise value creation through revenue growth and optimization. Prior to his tenure at Allstream, he held senior leadership positions at AT&T Canada and Unitel.

Mr. Vucinic is a professional engineer and holds a bachelor of applied science, engineering, from the University of Toronto.

Mr. Vucinic is a Canadian citizen.

Mr. Hrenchuk

Mr. Hrenchuk is the founder and currently serves as the principal of Citada Capital.

Mr. Hrenchuk is the founder and currently the principal of Citada Capital, which serves as an angel investor for small start-up companies and provides advisory services primarily in telecommunications since 2016. From 2008 to 2016, Mr. Hrenchuk was the CEO for Bite Group (Baltics), where he led the successful exit process on the back of double-digit EBITDA (earnings before interest, taxes, depreciation and amortization) growth. Prior to that, Mr. Hrenchuk was chief technology officer of Vodafone Czech Republic for eight years.

Mr. Hrenchuk holds a degree in economics from York University.

Mr. Hrenchuk is a Canadian citizen.

Ms. Pidgeon

Ms. Pidgeon is currently the principal of Tina Pidgeon Strategies.

Ms. Pidgeon is a 25-year veteran of the telecom and tech industry, and a recognized leader in telecommunications policy development and broadband infrastructure deployment. As the principal of Tina Pidgeon Strategies, she advises clients on business transformation, executable advocacy strategies and organizational design. Ms. Pidgeon previously spent 17 years with GCI Communication Corp. (GCI), an Alaska telecommunications company providing statewide broadband and wireless services. As GCI's general counsel, chief compliance officer and senior vice-president, governmental affairs, for a decade, she directed the company's legal, policy, regulatory, communications, compliance and risk operations, and applied her District of Columbia-based expertise in broadband deployment, universal service policy, and wireless and video service matters. During that time, she served on the company's senior executive team, which guided significant wireless transactions and major infrastructure deployments across Alaska, and managed broadband, wireless, video and traditional telecom service businesses. Ms. Pidgeon subsequently served as special adviser to the CEO and earlier as vice-president of federal regulatory affairs. Prior to her roles with GCI, Ms. Pidgeon was an associate with the law firm of Drinker Biddle & Reath LLP (now Faegre Drinker) in Washington, D.C., where she specialized in regulatory policy and compliance in the telecommunications industry. Ms. Pidgeon also serves as a director of AP&T (Alaska Power and Tel), chairing the governance and nominating committee; the American Oncologic Hospital, a comprehensive cancer centre in Philadelphia; and the Fox Chase Cancer Center Foundation, chairing the institutional advancement committee; and previously of Nova, an Icelandic mobile wireless and broadband company.

Ms. Pidgeon is a graduate of the University of Virginia School of Law and the University of Notre Dame, and her efforts, experience and leadership have been recognized by many industry and professional organizations.

Ms. Pidgeon is an American citizen.

Mr. Watson

Mr. Watson served as the 56th mayor of the city of Ottawa, Ont., from 2010 to 2022. Prior to this, Mr. Watson served as member of Provincial Parliament for the Ottawa West-Nepean riding, and was appointed as Minister of Consumer and Business Services in 2003. In addition, he became Ontario's first Minister of Health Promotion in 2005 and Minister of Municipal Affairs in 2007. From 2000 to 2003, Mr. Watson served as president and CEO of the Canadian Tourism Commission, a federal Crown corporation designed to market Canada domestically and internationally as a tourism destination. Previously, Mr. Watson also served as an Ottawa city councilor from 1991 to 1997 and as mayor from 1997 to 2000. Mr. Watson has served on the board or as honourary chair of several community organizations, including the Riverside Hospital, the National Arts Centre, the Central Canada Exhibition Association, the Christmas Exchange of Ottawa and the Forum for Young Canadians. He also served as chair of the United Way's 2002 campaign. Mr. Watson is the recipient of several honours and awards for his previous and continued service to the community, including the Queen's Diamond Jubilee Medal.

Mr. Watson graduated from Carleton University with a degree in journalism.

Mr. Watson is a Canadian citizen.

"On behalf of the entire TeraGo leadership team, I would like to welcome Dan Vucinic, Fred Hrenchuk, Tina Pidgeon and Jim Watson to the TeraGo board of directors," said Ken Campbell, chair of TeraGo's board. "Each new member possesses the necessary skills and the relevant experience to help accelerate TeraGo's mission in becoming one of the first operators to launch stand-alone commercial mmWave (millimetre-wave) 5G private networks in Canada. We look forward to benefiting from their unique expertise as we execute on our near- and long-term growth objectives."

The company also announced that Richard Brekka, Gary Sherlock and Laurel Buckner have stepped down from the board of directors after having each served a 10-year term, a seven-year term and a five-year term, respectively.

A report of voting results for each resolution presented at the meeting prepared in accordance with National Instrument 51-102 -- Continuous Disclosure Obligations has been filed on SEDAR.

About TeraGo Inc.

TeraGo provides wireless connectivity and private 5G wireless networking services to businesses operating across Canada. The company holds 2,120 megahertz of exclusive spectrum licences in the 24-gigahertz and 38 GHz spectrum bands, which it utilizes to provide secure and reliable enterprise-grade networking and connectivity services. TeraGo serves over 1,800 Canadian and global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999.

We seek Safe Harbor.