Mr. Barry Ellison reports

TENET EXPANDS BUSINESS HUB(TM) CAPABILITIES WITH OPPORTUNITIES FOR FREIGHT TRUCKING INDUSTRY

Tenet Fintech Group Inc. has launched the Yun Fleet platform as part of its Chinese Business Hub ecosystem to provide shipping and transportation opportunities to China's freight trucking industry resulting from transactions conducted on the hub.

Road freight is the most prominent mode of cargo transportation in China. China has one of the largest road networks in the world, second only to the United States. Ten ports in mainland China are included among the 30 top container harbours in the world, with the port in Shanghai being by far the busiest in the world. Rising domestic growth and rapidly developing road infrastructures are expected to continue to benefit China's freight trucking industry for years to come. According to global research firm IBISWorld, the industry's revenue should hit $127-billion (U.S.) in 2022. Despite its impressive profile, the industry suffers from various deficiencies. Trucks carry more than 80 per cent of the nation's goods, but the trucking industry remains highly fragmented and inefficient. The South China Morning Post estimates that there are anywhere from 18 million to 30 million truck drivers in China, most of whom are owner-operator truckers who own more than 90 per cent of trucks on the road. Those trucks stand empty about 40 per cent of the time because their owners spend an average of three days to find shipments for them.

"Road freight plays a critical role in China's economy, impacting virtually every industry from agriculture, to construction, manufacturing and retail," commented Tenet China chief executive officer Liang Qiu. "With the continuous expansion of our Business Hub ecosystem and as we get involved with more industries, it facilitates more and more transactions, and inevitably generates an increasing number of shipping opportunities. The idea behind the Yun Fleet platform is to invite the country's millions of owner-operator truck drivers to join the platform to be potentially matched with the shipping opportunities created by the hub. While Tenet isn't the first company to recognize and try to solve the inefficiencies in China's freight trucking industry -- that credit would have to go to the Full Truck Alliance Platform -- the fact that we generate shipping opportunities rather than having to look for them will allow us to work in partnership with other shipping platforms rather than compete with them. At the end of the day, our goal remains the same, and that's to attract as many businesses as possible to our Business Hub ecosystem. The launch of the Yun Fleet platform provides us another way to reach that goal while continuing to expand the hub's capabilities."

Yun Fleet matches freight truckers with shipping opportunities based on factors such as proximity, fleet availability, whether climate control is required and a variety of other factors to optimize cost and time efficiency for shippers and truckers alike. In addition to shipping opportunities, Yun Fleet members are also eligible for other Business Hub services, including financing and insurance services.

Update on year-end 2021 financial statements

Tenet will file its audited year-end 2021 financial results on April 29, 2022.

About Tenet Fintech Group Inc.

Tenet Fintech Group is the parent company of a group of innovative financial technology and artificial intelligence companies. Tenet's subsidiaries provide various analytics and artificial-intelligence-based services to financial institutions and businesses through the Business Hub, an ecosystem where data analysis and artificial intelligence are used to facilitate transactions among its members.

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