Mr. Nick Forbes reports

TITAN LOGIX CORP. REPORTS ITS FIRST QUARTER FISCAL 2024 FINANCIAL RESULTS

Titan Logix Corp. has released its interim results for the three months ended Nov. 30, 2023.

Q1 FISCAL 2024 HIGHLIGHTS

Revenues for the first quarter of fiscal 2024 increased by 1% to $1,513,858 compared to $1,503,120 in the first quarter of fiscal 2023. The Company continues to see increased demand for its core product line as Tanker OEM's remain at peak production capacity.

Gross Profit decreased by 7% to 780,018 or 52% of revenue in the first quarter of fiscal 2024 compared to $836,621 or 56% of revenue. The decrease in Gross Profit was driven by an increase in unit manufacturing input costs due to inflationary price increases in components.

The Company incurred product research and development expenses(1) in the current quarter of $265,638 on activities to support the Company's diversification and growth into new markets compared to $14,006 incurred in the same period of fiscal 2023. In fiscal 2023, the Company began to execute on its strategic growth plan to diversify and expand the Company's reach into mobile liquid markets outside the traditional crude and used oil segments. Expenditures associated with this plan were minimal in the comparative period.

The Company's net earnings decreased by $818,854 to a net loss of $404,169 in the first quarter of fiscal 2024 compared to net earnings of $414,685 in the first quarter of fiscal 2023. The decrease in net earnings over the comparative period was driven by the decrease in Operating EBITDA(1), the increased product research and development costs and change in other non-operating items, specifically an unrealized loss of $424,375 recorded in the current period on the Company's investment in shares of Bri-Chem Corporation compared to an unrealized gain of $48,500 recorded in the same period of fiscal 2023.

The core business continued to perform with reported Operating EBITDA(1) of $205,880 in the first quarter of fiscal 2024.

"We continue to build on our successes from fiscal 2023, maintaining a strong sales velocity in our core markets," says Nick Forbes, CEO at Titan." We have also made great progress on our strategic growth plan with the launch of our T-Connect mobile application, establishing Titan's brand as a value-added partner in the tanker truck market."

The Company's interim consolidated financial statements and the management's discussion and analysis ("MD&A") which includes the Company's Business Outlook, for the three month periods ended November 30, 2023, are available on SEDAR+ at www.sedarplus.ca and the Company's website, www.titanlogix.com.

NON-IFRS MEASURES

The Company uses certain measures in this MD&A that do not have a standardized meaning as prescribed by IFRS and thus are prohibited from being disclosed in the consolidated financial statements. These measures, which are derived from information reported in the Company's consolidated financial statements, may not be consistent to similar measures presented and disclosed by other reporting issuers. However, management believes that this information provides increased insight into the Company's strategic plan to address the broader mobile liquid markets. Readers are cautioned that these non-IFRS measures should not be construed as alternatives to other measures of financial performance calculated in accordance with IFRS.

The table below provides a reconciliation of the Company's EBITDA and Operating EBITDA to the Operating income (loss) before other items per the interim consolidated financial statements for the periods presented:

The table below, removes the recurring engineering expenses from the total to isolate the product research and development expenses excluded in Management's calculation of Operating EBITDA:

A detailed definition of these non-IFRS measures can be reviewed in the Company's MD&A

About Titan Logix Corp.:For over 25 years, Titan Logix Corp. has designed and manufactured mobile liquid measurement solutions to help businesses reduce risk and maximize efficiencies in bulk liquids transportation. Titan's TD Series of tank level monitors are a market leader in mobile fluid measurement, and are known for their high level of accuracy, rugged design, and solid-state reliability. Our solutions are designed for hazardous and non-hazardous applications, and we serve customers in a wide range of applications including petroleum, environmental solutions, chemical, and agriculture.

We seek Safe Harbor.