Mr. Ali Tajskandar reports

WISHPOND PROVIDES CORPORATE UPDATE ON THE COMPLETED INTEGRATION OF ITS VIRAL LOOPS ACQUISITION AND RESULTING GROWTH

Wishpond Technologies Ltd. has completed the integration of its recently acquired subsidiary, Viral Loops Technologies Inc., resulting in improving growth in the combined businesses due to greater cross-selling and bundling opportunities with larger deal sizes. Viral Loops is witnessing increasing revenue and customer growth since being acquired by Wishpond in April, 2022.

Ali Tajskandar, chairman and chief executive officer of Wishpond, commented: "Integrating Viral Loops with Wishpond has been an incredibly exciting opportunity for us. Our ability to offer Viral Loops to our clients has been extremely valuable, as the platform offers a perfect synergy with Wishpond's existing solutions. We can't wait for more of our clients to start tapping into Viral Loops' potential to grow their businesses. We expect that incorporating Viral Loops products into Wishpond's already-proven sales strategy will allow us to maintain strong growth from the platform. Wishpond is well positioned to accelerate its future growth with the help of Viral Loops."

Viral Loops is a referral marketing software platform that helps companies acquire new customers and increase sales through the power of word-of-mouth and referral marketing. Viral Loops now helps more than 800 customers unlock their viral growth through powerful referral marketing solutions. It allows businesses to design, create and manage referral programs that reinforce customer loyalty, attract new customers and decrease customer acquisition costs. Viral Loops provides its customers with customizable templates for referral marketing campaigns where customers can refer various products within their network in exchange for rewards.

Wishpond now offers Viral Loops products to Wishpond's customers, allowing Viral Loops to reach a larger customer base while increasing the value of Wishpond's bundled packages and the company's average revenue per user (ARPU). Wishpond's customers benefit from having access to a wider range of solutions to grow their on-line business.

The completed integration of Viral Loops with the Wishpond platform allows contacts and data to be synchronized between Viral Loops and Wishpond, enabling Wishpond customers to grow their business with referrals and Viral Loops customers to use Wishpond's platform for their marketing activities. Hence, Viral Loops is able to offer sales packages that include Wishpond's products, providing a variety of on-line marketing solutions previously unavailable to Viral Loops' customers.

"Viral Loops has traditionally relied on inbound traffic to acquire new customers, but we've now been able to combine our strong organic inbound marketing channel with Wishpond's outbound sales engine to boost revenue growth," commented Dimitris Tzortzis, general manager of Viral Loops. "Viral Loops is fortunate that it is able to tap into the sales processes and bench strength of Wishpond, adopting its proven sales practices for lead prospecting, sales development and sales pipeline management."

Viral Loops has completed additional new integrations and enhancements that have further contributed to its revenue growth. For example, Viral Loops released a new integration with the Adobe Marketo Engage e-mail marketing automation platform. This allows Viral Loops to be seamlessly integrated in the marketing stack of customers who are using Adobe Marketo Engage and want to grow their subscriber base with referrals.

Viral Loops is also leveraging Wishpond's shared account management services that allow Wishpond to provide Viral Loops with an enhanced sales team and services which will provide more growth opportunities for small businesses. Viral Loops has also optimized its pricing plans, introduced new packages and optimized website sign-up processes to increase inbound conversion rates.

Viral Loops' proprietary technology tracks and manages the effectiveness and results of the referral program and enables customers to manage the distribution of the rewards and discounts arising from the campaign. Most recently, a financial services company successfully launched its new fintech mobile app in the U.S. market by using Viral Loops, achieving 30-per-cent growth through referrals from early adopters.

Grant of incentive awards

Wishpond also announced the grant of 75,000 incentive stock options, 475,000 restricted stock units (RSUs) and 1.15 million performance share units (PSUs) under the company's omnibus equity incentive plan to certain directors and officers, employees, contractors and investor relations advisers to purchase an aggregate of up to 1.7 million shares in the capital of the company. The options were granted effective Sept. 30, 2022, and the RSUs and PSUs were granted effective Oct. 1, 2022. A summary of the awards granted is as follows:

• An aggregate of 200,000 RSUs were granted to certain directors and officers of the company, with the balance 275,000 RSUs granted to employees and contractors of the company. The RSUs vest over two years, with 50 per cent of the RSUs vesting on the first anniversary of the grant date and the remaining RSUs vesting in four equal instalments over the next four quarters.
• An aggregate of 1.15 million PSUs were granted to certain officers of the company. The PSUs vest on the one-year anniversary of the grant date based on the achievement of certain specific performance metrics approved by the board of directors of the company.
• An aggregate of 75,000 options were granted to Angad Capital Inc., a provider of corporate strategy, capital markets advisory and investor relations services to Wishpond, to purchase an aggregate of 75,000 common shares in the capital of the company at an exercise price of 70 cents per share. The options are granted pursuant to the plan and will vest quarterly over 12 months in accordance with the provisions therein and the policies of the TSX Venture Exchange.

About Wishpond Technologies Ltd.

Based out of Vancouver, B.C., Wishpond is a provider of marketing-focused on-line business solutions. Wishpond's vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success on-line. The company offers an all-in-one marketing suite that provides companies with marketing, promotion, lead generation and sales conversion capabilities on one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers that are primarily small- and medium-sized businesses (SMBs) in a wide variety of industries. The company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The company employs a software-as-a-service (SaaS) business model where substantially all the company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker WISH and on the OTCQX Best Market under the ticker WPNDF.

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