Mr. John Putters reports

VISIONSTATE ADDS ONTARIO HEALTH REGION, EXPANDS RECURRING REVENUE AND U.S. FOOTPRINT

Visionstate Corp. has added a new Ontario-based health region to its compliance software platform, representing five hospitals and associated facilities, while it also has had continued expansion of its footprint in the United States through additional deployments within Class A office tower environments in New York.

These developments build on the company's previously reported subscription growth and reflect continued adoption of its compliance platform across multiple sectors.

Visionstate has recently deployed its compliance platform across a new health region in Ontario, representing five hospitals and associated ancillary facilities, with the ability to track up to approximately 100 locations per site. This deployment adds five new software licences to the company's growing base of recurring revenue.

The adoption is driven in part by regulatory changes in Ontario, including Bill 190, which requires greater transparency and documentation of cleaning activities in public facilities. While the legislation came into effect on Jan. 1, 2026, many organizations continue to implement technology solutions to meet compliance requirements.

"This deployment demonstrates both the scalability of our platform and our ability to on-board complex health care environments efficiently," said John Putters, chief executive officer of Visionstate. "Health care operators are under increasing pressure to document compliance, and our platform provides a structured, digital solution to meet those requirements."

Visionstate emphasized that its business model is based on software as a service, where each new deployment contributes to a growing base of recurring revenue.

The company also reported continued expansion of its footprint in the United States, including a recent purchase order supporting further deployment within Class A office tower environments in New York. These deployments include additional annual licence fees for Visionstate's compliance solutions, including tablets and Internet of Things-based devices, and reflect continued adoption by an existing global customer.

The new deployments will add an anticipated $10,000 (U.S.) per year to the residual revenue, or $50,000 (U.S.) for the term of the contract with the U.S. customer and $8,000 (Canadian) per year or $40,000 (Canadian) for the term of the contract for the health region in Ontario. This is in addition to the 160 licences Visionstate now has with customers on a recurring basis.

"This expansion within an established customer environment demonstrates both satisfaction with the platform and the ability to scale across large, complex portfolios," said Mr. Putters.

Sol Spaces Inc. operational update

Visionstate also provided an update on Sol Spaces, a company focused on modular greenhouse and utility space solutions, in which Visionstate holds an approximately 40-per-cent interest.

For the year ended Dec. 31, 2025, Sol Spaces reported:

• Total revenue of approximately $142,000;
• Gross profit of approximately $110,700;
• Net loss of approximately $12,000.

Revenue was generated through a combination of development services, hardware sales, greenhouse products and installation services.

Sol Spaces recently participated in the Edmonton Home and Garden Show, where interest in its greenhouse products was strong and resulted in multiple sales following the event.

Management believes this demand reflects broader trends, including rising food costs, supply chain disruption and increased interest in local food production.

"Sol Spaces is as much a technology company as it is a builder," said Mr. Putters. "Advancements in climate control, energy efficiency and integrated systems are enabling more effective local food production, which is becoming increasingly important in today's environment."

Coming shareholder update

Visionstate will host its next coffee chat shareholder update on Thursday, May 7, 2026, from 8:30 a.m. to 10 a.m. MST or from 10:30 a.m. to 12 p.m. EST.

The session will follow the release of the company's second quarter financial results. Shareholders and interested participants may request log-in details by contacting info@visionstate.com.

About Visionstate Corp.

Visionstate is a technology company focused on compliance-driven subscription solutions for regulated and high-traffic facilities. Through its wholly owned subsidiary, Visionstate IoT Inc., the company delivers the MIRA platform, which enables organizations to digitally verify, audit and document operational activities in support of regulatory transparency and accountability requirements.

The company's subscription-based platform is deployed across hospitals, airports, shopping centres, educational institutions and other public facilities across North America.

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