Mr. Trevor Davidson reports

APARTMENTLOVE TERMINATES TWO PROPOSED ACQUISITIONS CITING MATERIAL INCONSISTENCIES IN DUE DILIGENCE MATERIALS

Apartmentlove Inc. has decided not to proceed with two previously announced transactions, the first being the proposed acquisition of certain assets of Traffic2Revenue Inc., a Florida-based Internet marketing company, and the second being the proposed acquisition of the assets of a luxury Internet listing real estate site. In its review, management noted material inconsistencies with the due diligence materials produced by the vendors of each respective proposed acquisition. These transactions were announced in press releases dated Oct. 28, 2021, and May 23, 2023, respectively.

"While disappointed to not be proceeding with either transaction, I commend the work of our acquisition team and their rigorous due diligence investigations," said Trevor Davidson, president and chief executive officer of Apartmentlove.

The company has successfully completed two acquisitions since going public in the summer of 2021 and management maintains its resolve to consolidate the deeply fragmented Internet listing industry. To that end, the company is continuing its due diligence investigation of a pioneer in the Canadian fintech space, as was announced in a press release dated June 26, 2023.

About Apartmentlove Inc.

Apartmentlove is a leading provider of on-line home, apartment and vacation rental marketing services to property managers, owners, renters and vacationers in more than 30 countries around the world. Promoting more than 350,000 daily active homes, apartments and vacation properties on its network of short-term and long-term rental marketing websites, Apartmentlove has proven its ability to scale as a fast-growing proptech (property technology) in today's complex and dynamic markets. Seeking to consolidate the deeply fragmented Internet listing industry, Apartmentlove has acquired multiple businesses that have many monthly active users, a history of recurring revenues, positive cash flows, and custom technologies that accelerate and destress the renting experience.

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