An anonymous director reports

TERAGO ANNOUNCES SUBSCRIPTIONS IN EXCESS OF $12,000,000 FOR THE PREVIOUSLY ANNOUNCED RIGHTS OFFERING AND CONCURRENT PRIVATE PLACEMENT

In connection with TeraGo Inc.'s rights offering to eligible holders of common shares of the company and concurrent private placement of shares for gross proceeds of up to $5.5-million announced in the company's press release dated Sept. 11, 2025, to date, the company has received subscriptions to purchase shares, including the previously announced standby commitments, in connection with the exercise of rights pursuant to the rights offering and pursuant to the concurrent private placement with an aggregate value in excess of $12-million.

As set out in the September press release, the company entered into a commitment letter with EdgePoint Investment Group Inc., in respect of a 36-month term loan, in the principal amount of $21-million (U.S.) to refinance the company's current term debt facility. The new term debt facility is contingent on the satisfaction of customary conditions, including the execution of definitive loan documents including such terms and provisions reasonably satisfactory to EdgePoint, and conditional on TeraGo securing $12-million in financing from the completion of the rights offering and the concurrent private placement (including a standby commitment from Cymbria Corp., for which EdgePoint acts as portfolio manager, in the amount of $4-million).

The company intends to close the recapitalization transactions on Oct. 15, 2025, or such other date or dates as the company may determine, and the recapitalization transactions are subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange (the TSX).

The recapitalization transactions are all subject to TSX approval.

About TeraGo Inc.

TeraGo provides managed network and security services to businesses across Canada. Ensuring highly secure, reliable and redundant connectivity including private 5G wireless networks, Fixed Wireless access, fibre and cable wireline network connectivity. As Canada's biggest mmWave spectrum holders, the company possesses spectrum licences in the 24-gigahertz and 38 GHz spectrum bands, which it utilizes to provide secure, dedicated SLA guaranteed enterprise grade performance that is technology diverse from buried cables ensuring high-availability connectivity services. TeraGo serves 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.

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