MOBI724 GLOBAL SOLUTIONS (TSXV: MOS) RELEASES BUSINESS UPDATE FOR Q4 AND OUTLOOK FOR FISCAL 2023 AND BEYOND

Contract Backlog reaches all-time high and more than 10 million cards under management

MONTREAL, Nov. 24, 2022 /CNW Telbec/ - ("MOS" or the "Company") (TSXV: MOS), a fintech enabler of AI-enhanced payment card-linked incentives, announces a business update for Q4 and outlook for fiscal 2023 and beyond.

The company announces the following key highlights:

• Business Development
• The Company has completed the signing of contracts this year that have been previously announced and have a backlog of contracts valued over $7.4 M for the next 36 months, including a 10-year contract that was announced in Q2 2022 that will start being monetized in Q1 2023;
• The contracts signed this year with clients are being deployed in 10 countries in the Latam region;
• The Company has finished the implementation of its engagement solution with a leading travel and entertainment platform for a top regional bank which had been delayed due to COVID 19, and the solution will be deployed before end of Q4 in the first country, to complete deployment in the remaining 6 countries during 2023;
• The number of estimated payment cards that our customers hold total more than 10M payment cards; 
• The team continues to successfully deploy Proofs of Concept (POC) in different markets with key issuers, to gain further traction and market share;
• The Company's sales pipeline presently in business development represents approximately 15% of the target market of 1B payment cards with over US$1.3T of spent versus fiscal 2021 which was at under 5%. It represents new opportunity for advertisers in the region (market source: Nelson report);
• All COVID related postponed and delayed projects are currently in monetization mode except one; and,
• Initial deployments and POCs have already shown more than double digit increase in customer spent on payment cards for banks and on frequency and average spent at participating merchants. These early performance results are not a guarantee of any future results.

• Financial Performance
• Subject to overcoming funding constraints, the company is aiming to become EBITDA positive in the second half of 2023;
• The Company's revised business plan aims to achieve a target revenue of $7M -$10M in fiscal 2023 without any acquisition with projected EBITDA of $0.1M - $2M; and,
• The acquisition of Avenida will not be completed as market conditions are not favorable to such a completion it even though the benefits of such a transaction remain valid. The company will continue to collaborate Avenida on joint projects that are mutually beneficial.

• Debt for Shares
• To improve balance sheet, the company intends to enter into shares for debt agreements to convert an amount of approximately $600K of debt owed to related parties the terms of which are not yet finalized and will be subject to a subsequent press release. The debt is comprised of the principal and interest related to a loan, unpaid salary owed to an executive officer, investor relations and fees payable to board members.

• Connectivity / Access to Real Time Payment Card Transactions to Deliver Behavior Driven Offers
• The Company continues to advance its connectivity with payment card transaction providers such as processors, acquirers, and payment gateways to deliver Mobi724's unique real-time behavior driven engagement solutions to payment cardholders;
• The Company expects to complete its integration with 2 new key processors in Mexico Q1- Q2 2023 to reach an estimated 70% plus of the payment transactions in the Latam market of more than 1B payment cards with over US$1.3 T of spent in the region (market source: Nelson report); and,
• The Company is in the process of integrating with a top global payment solutions provider that will enhance business opportunities globally including the Latam region.

• Global Scalability of AI Powered Solutions
• The Company's solutions are scalable globally. The focus has been the Latam region in phase 1, but with a new partner, there are early-stage opportunities in Europe with key issuers and acquirers of payment card transactions; and,
• All the R&D is completed for the Company's portfolio of solutions just that the focus is to now further enhance the product quality and features.

• Hiring of a Global Firm to Advise on Strategic Value Creation
• The Company is under funding constraints and is actively soliciting funding to achieve its business plan; and,
• The Company has engaged BDO to advise on strategic alternatives, including funding options or potential transactions. This engagement is ongoing and projected to continue until the end of the year. It should be noted that the Company has not set a definitive schedule to complete its evaluation and no decision on any strategic funding or alternative potential transaction such as, but not limited to, recapitalization, joint ventures, strategic partnerships or alliances or other possible transactions.

BDO Canada LLP is a leading provider of professional services to clients of all sizes in virtually all business sectors. Our team delivers a comprehensive range of assurance, accounting, tax, and advisory services, complemented by deep industry knowledge gained from over 100 years of working within local communities. With more than 1,700 offices in 167 countries, our global BDO network positions us to provide consistent cross-border services to clients with global needs.

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO member Firms. For more information, visit: www.bdo.ca.

Every Transaction is An Opportunity

Mobi724 Global Solutions Inc. (TSXV: MOS) is an AI powered fintech company which provides a platform, that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.

MOBI724 Global Solutions is offering a Global Offers & Rewards network, by providing banks – card issuers, and merchants with an AI-enhanced behavior transactions-driven omnichannel marketing solution - Smart Transaction processing platform.

Mobi724's predictive analytics capabilities enable performance-based behavior driven advertising model, empowering banks to monetize purchase insights of their debit and credit card portfolios

Mobi724's transaction-driven solution brings strategic value for all parties in the ecosystem by:

• Generating incremental and new revenues for banks / payment card issuers, payment networks and acquirers

• Driving incremental sales for merchants through risk-free pay-per performance targeted marketing campaigns

• By increasing purchasing power for cardholders through delivering a right offer at the right time with new benefits

Our phase one business development focus is Latin America, a rapidly growing market of more than 1 Billion payment cards.

Mobi724 is offering its' real-time Behavior Driven Offers and Rewards processing network by developing relationships and integrating with multiple payment processors and acquirers with an objective to deliver the best unique digital and personalized consumer experience globally.

In Mobi724 ecosystem – Every Transaction is an Opportunity.

www.mobi724.com

Legal Disclaimer

Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute a solicitation to buy or sell any securities in the United States.

SOURCE Mobi724 Global Solutions Inc.

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