Mr. Nino Di Teodoro reports

PELICAN AI WINS PLATFORM UPGRADE FROM INDIA'S LARGEST PUBLIC SECTOR BANK

Pelican AI Corp. has made progress on an upgrade of its ESSLO financial crime compliance platform for India's largest multinational public sector bank, a Fortune 500 institution. The initiative builds on nearly a decade of platform use, and is designed to strengthen transaction screening, enhance access security and support the bank's expansion into Gujarat International Finance Tec-City (GIFT City).

Pelican's ESSLO platform supports the bank's payments, treasury, trade finance and foreign exchange operations across 29 global geographies.

Key highlights:

• Established global deployment: Nearly a decade of use across critical business lines in 29 geographies.
• Measurable screening improvement: Pelican's self-learning optimization reduced the bank's false-positive alert rate from 75 per cent to 14 per cent in under two years. Results are specific to this customer's configuration and data and may not be representative of other customers.
• Enhanced security and efficiency: Intelligent transaction screening and multifactor authentication (MFA) are intended to reduce recurring alerts and strengthen access controls.
• Implementation progress: The upgrade has been deployed in the bank's user acceptance testing (UAT) environment, with production deployment targeted for October, 2026.

"This relationship demonstrates the value Pelican delivers within the complex operating environment of a major global financial institution," said Nino Di Teodoro, chief executive officer of Pelican AI. "Nearly a decade of use across 29 geographies, combined with a substantial reduction in false positives, provides tangible evidence of the platform's relevance and performance. This upgrade reflects the opportunity to deepen existing banking relationships as clients enter new markets, strengthen security and adapt to evolving regulatory requirements. Expanding the value Pelican delivers within its installed customer base is an important part of the company's growth strategy."

The upgrade addresses the bank's priorities to improve alert quality, strengthen user authentication and extend ESSLO to its GIFT City branch, located within India's International Financial Services Centre.

The latest ESSLO version incorporates architecture designed to support FCSS message formats. Intelligent transaction screening is intended to reduce recurring false positives and streamline alert management, while MFA strengthens access controls for sensitive compliance workflows.

The bank has also sought a further five-year renewal of its self-learning optimization licence, following the component's demonstrated impact on false-positive rate reduction.

For Pelican, the initiative illustrates an opportunity to expand platform adoption within an established customer relationship through additional capabilities and geographic deployment.

About Pelican AI Corp.

Pelican AI is a financial technology company providing artificial intelligence-powered solutions for payments, financial crime compliance and trade finance. With more than 30 years of proprietary AI (artificial intelligence) expertise, Pelican's technology is trusted by major financial institutions across more than 55 countries and has processed more than two billion transactions representing approximately $10-trillion in value.

Pelican's technology uses artificial intelligence, machine learning and natural language processing to help financial institutions automate payment processing, improve straight-through processing, strengthen financial crime compliance and modernize transaction banking infrastructure. Its solutions include Pelican Payments, Pelican Secure and AI-powered trade finance applications.

We seek Safe Harbor.