Mr. Chuck Myers reports

QUARTERHILL ANNOUNCES $40 MILLION RENEWAL CONTRACT TO UPGRADE ALAMEDA COUNTY TRANSPORTATION COMMISSION (ALAMEDA CTC) I-580 EXPRESS LANES

Quarterhill Inc. has been awarded a contract valued at $40-million to upgrade the Alameda County Transportation Commission Interstate 580 (I-580) express lanes. The project will be implemented over 17 months and includes seven years of operations and maintenance. The contract provides Alameda CTC with the option to procure up to four additional years of operations and maintenance at an additional cost of $15-million. All financial information in this press release is reported in United States dollars.

The Alameda CTC I-580 express lanes are specially designated highway lanes designed to improve travel times and alleviate traffic congestion across Alameda county. These lanes enable a more reliable travelling experience for commuters and travellers in the county by providing an option to bypass congested traffic segments under certain conditions. Express lanes help in managing and mitigating traffic congestion, directly benefiting not just the users of these lanes but also potentially improving conditions in the general-purpose lanes. The I-580 express lanes span approximately 10 miles from Hacienda Drive in Pleasanton to Greenville Road in Livermore in the eastbound direction and approximately 12 miles from Greenville Road to just before the I-680 overpass in Dublin in the westbound direction.

Under this contract, Quarterhill will upgrade I-580 express lanes onto the same technology infrastructure that underlies the I-680 express lane operations. The project ensures compatibility with recent system replacements at the Alameda CTC I-680 express lane facilities, which implemented Quarterhill's riteSuite to improve mobility and alleviate congestion along the corridor. riteSuite is an updated family of cloud-based, end-to-end tolling and mobility systems built on mainstream open-source platforms for flexible deployment to support transportation growth throughout the region.

The express lane consolidation focuses on streamlining operational processes and applying consistent business rules across Alameda CTC's operations. It also addresses the legacy system's increasing operational exposures and maintenance risks by updating technical equipment, including sign upgrades to accommodate changes to road segments, and decommissioning and replacing outdated roadside equipment. With this project, Quarterhill is positioned as Alameda CTC's sole express lane electronic toll collection system provider until 2032, with potential extensions until 2036, emphasizing a long-term commitment to enhancing Alameda county's transportation infrastructure.

"We are thrilled to deepen our partnership with the Alameda CTC through this significant upgrade of the express lanes," said Chuck Myers, chief executive officer of Quarterhill. "This upgrade project not only demonstrates Quarterhill's commitment to innovation but also solidifies our position as Alameda CTC's unified provider for electronic tolling solutions. This initiative will streamline operations, ensure uniformity in the application of business rules across Alameda CTC's network and provide greater maintenance efficiency. We believe this is a pivotal step forward in enhancing customer experience and are proud to play a crucial role in modernizing Alameda county's transportation infrastructure."

About Quarterhill Inc.

Quarterhill is a leading provider of tolling and enforcement solutions in the intelligent transportation system (ITS) industry. The company's goal is technology-driven global leadership in ITS via organic growth of its tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets.

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