Richmond Hill, Ontario--(Newsfile Corp. - October 7, 2026) - VIQ Solutions Inc. (TSXV: VQS) ("VIQ" or the "Company"), a global provider of AI-driven digital voice and video capture technology and transcription services, has partnered with Canadian venture studio AXL to announce a significant breakthrough in identifying who is speaking in multi-speaker recordings, now with 97 to 99% accuracy - a near-perfect performance benchmark. The companies entered into a mutual agreement on 30-June-2026 with the underlying intellectual property owned by VIQ.

VIQ's aiAssist platform is speech-engine agnostic. Through months of VIQ's internal testing, it was determined that all tested speech engines currently on the market continue to struggle with challenges such as short utterances, similar-sounding voices, and overlapping speech; this new capability directly addresses those limitations.

Matching each piece of speech in a recording to the person who said it is known as diarization. It has long been one of the most persistent pain points for anyone editing transcribed content. Because multi-speaker speech accounts for approximately 95% of VIQ's speech output, solving it was VIQ's primary objective of its collaboration with AXL. As a result, end users can now review a speech draft in a fraction of the time it used to take with fewer speaker changes to make and speakers identified by name. 

"We are incredibly excited about this breakthrough," said Caroline Brown, SVP of Product and Innovation at VIQ Solutions. "Diarization has been one of the toughest problems in this industry, and solving it at this level of accuracy is a huge win for our customers. This is exactly the kind of innovation we set out to deliver when we started this partnership with AXL, and we couldn't be more thrilled with what our teams have accomplished together."

"The underlying speech models are incredibly capable, but on their own they still make a lot of errors, and in transcription, one of the most damaging errors is attributing words to the wrong person," said Daniel Wigdor, co-founder and CEO of AXL. "That gap between what a model can do in the lab and what a business can rely on is exactly where AXL works. VIQ brought us a hard, well-defined problem and a team that knew what success had to look like."

VIQ will be piloting the feature before rolling it out to the broader customer base.

For more information about VIQ, please visit viqsolutions.com.

About AXL Labs, Inc.

AXL is a Canadian venture studio transforming world-class research into high-growth companies that shape the future of applied AI. Led by seasoned tech entrepreneurs and applied AI experts, AXL's mission is to ensure Canada's top breakthroughs are built and scaled at home. By connecting academia with real market demand and full-stack venture creation, AXL helps Canada move from invention to impact, anchoring talent, intellectual property, and long-term economic value within the country. For more information, visit axl.vc and connect with us on LinkedIn.

About VIQ Solutions

VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost.

Forward-Looking Statements

Certain statements included in this press release constitute forward-looking statements or forward-looking information (collectively, "forward-looking statements") under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

Forward-looking statements typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements in this press release include but are not limited to statements with respect to the Company's ability to realize results from the recent leadership changes and productivity improvement, the Company's ability to improve scalability in the future, expected margin improvement, the Company's focus and its priorities and the filing of the Financial Information on SEDAR+.

Forward-looking statements are based on several factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding, among other things, recent initiatives and potential increases in revenue. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been used.

Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the "Risk Factors" section of the Company's annual information form and in the Company's other materials filed with the Canadian securities regulatory authorities.

These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Such estimates and assumptions may prove to be incorrect or overstated. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any obligations to update or alter such statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.

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