Mr. Jeffrey Berman reports

UNIVERSAL PROPTECH ANNOUNCES MANAGEMENT AND BOARD CHANGES

Chris Hazelton, president, chief executive officer and director of Universal Proptech Inc., has resigned from the company and the board of directors, after leading the company for more than nine years, most recently as president and chief executive officer for the last three years. Jeffrey Berman will succeed Mr. Hazelton as president and chief executive officer and as a director.

"On behalf of the board and the management team, I would like to thank Chris for his decades of commitment and contribution to building the business and driving UPI's business for so long," said Mr. Berman. "We wish Chris continued success in his future endeavours.

"I am looking forward to working with the rest of the board of directors and the UPI team to seek out opportunities for the company. We will aim to move quickly to use our resources to maximize shareholder value by seeking strategic growth opportunities."

Board member Al Quong commented: "We thank Chris Hazelton for his strategic leadership over many years. Chris lead the company to profitability at a difficult time. He cut costs, secured strategic acquisitions and deftly managed through sale of our primary business unit, VCI, leaving the company cashed up and ready for the next chapter.

"We welcome Jeff to his new role as CEO," Mr. Quong continued. "We are confident that Jeff will bring renewed and diverse thinking and opportunities to the company. With his background as a private investor and advocate, we believe Mr. Berman will provide strong leadership as we enter our next phase."

Mr. Berman is a trial lawyer who has successfully litigated cases at every level of court in Ontario. He is a partner at the law firm of Goodman Berman, Barristers. Mr. Berman graduated from Osgoode Hall Law School where he earned his law degree in 2005. He articled at a Bay Street law firm before shifting to criminal law. Prior to law school, Mr. Berman graduated with an honours degree in commerce with a focus in finance and marketing.

About Universal Proptech Inc.

Following the sale of its operating subsidiary in the first quarter of 2023, Universal Proptech is currently reviewing acquisitions of, or investments in businesses with rapid growth potential.

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