Mr. Ian Paterson reports

PLURILOCK ENGAGES CLEAR STREET TO REVIEW U.S. STRATEGIC OPTIONS

Plurilock Security Inc. has engaged Clear Street as its financial adviser to assist the board and management in refining United States strategic options.

Plurilock generated $70.4-million in revenue for the year ending Dec. 31, 2023. These revenues come from an integrated cybersecurity company platform that includes hardware and software sales, managed critical services, and the Plurilock AI (artificial intelligence) SaaS (software as a service) platform. Eighty-nine per cent of Plurilock's business is conducted in the U.S., with the U.S. federal government representing the company's largest customer. The ecosystem of U.S. government customers and partners is the foundation of Plurilock's business, as the company is intertwined with agencies across homeland security and defence, energy and agriculture, transportation and commerce, health and human services, and justice, among others.

Plurilock has recently added prominent Americans to the company's industry advisory council, including former CrowdStrike board member/AppDynamics president Joe Sexton and former White House lawyer/senior CIA officer Bryan Cunningham. This builds on Plurilock's American leadership, which also includes company board members Jennifer Swindell who was formerly senior vice-president of Booz Allen Hamilton and a special operations officer in the U.S. Navy; and Ed Hammersla who was formerly head of Raytheon Cyber Products and chief strategy officer of Forcepoint.

This strategic review aims to amplify Plurilock's growth trajectory and market presence by leveraging the robust opportunities available in the U.S. technology sector. With the increasing demand for advanced cybersecurity solutions, Plurilock is strategically positioned to expand its footprint and enhance shareholder value.

"Plurilock Security is at the forefront of protecting organizations against evolving cyberthreats. By engaging with Clear Street, we aim to explore avenues that will not only bolster our visibility but also attract a wider investor base," said Ian L. Paterson, chief executive officer of Plurilock Security. "We believe that U.S. capital markets and acquisitions strategies better support Plurilock's growth and valuing the platform properly with growth focused investors who will support it."

There can be no assurance that the exploration of strategic options will result in any agreements or transactions, or as to the timing of any such agreements or transactions. Plurilock does not intend to discuss or disclose further developments regarding the exploration of strategic alternatives unless and until its board of directors has approved a specific action or otherwise determined that further disclosure is appropriate or required by law.

About Plurilock Security Inc.

Plurilock sells cybersecurity solutions to the United States and Canadian federal governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of critical services -- aiding clients with its expertise to defend against, detect and prevent costly data breaches and cyberattacks.

We seek Safe Harbor.