Mr. Steve Taylor reports

BLUERUSH INC. ANNOUNCES IMPRESSIVE 3RD QUARTER RESULTS, HIGHLIGHTING CONTINUED GROWTH AND INNOVATION IN PERSONALIZED VIDEO TECHNOLOGY

Bluerush Inc. has released strong third quarter results and continues to focus on platform innovation. The company's innovative SaaS (software-as-a-service) platform, fuelled by its personalized video technology, continues to drive growth, delivering superior customer engagement for businesses of all sizes.

Key financial highlights for the third quarter include:

• 29-per-cent increase in SaaS revenues, totalling $755,636, compared with $584,883 for the same period in fiscal 2022.
• SaaS revenue for the nine-month period ending April 30, 2023, experienced a significant growth of 32 per cent, reaching $2,254,711, compared with $1,706,846 for the same period last year.
• Operating expenses reduced 30 per cent year-over-year for the third quarter, reduced by $330,735 (annualized cost reduction of $1,322,940).
• Cash position remains strong as the company works toward its goal of achieving positive EBITDA (earnings before interest, taxes, depreciation and amortization).

These outstanding results reflect the market's growing recognition of the value and effectiveness of Bluerush's personalized video solutions.

Steve Taylor, chief executive officer, commented: "We are encouraged by our third quarter results which demonstrate our continued success in the rapidly evolving personalized video market. Our technology is gaining significant momentum, and we are proud to provide a superior customer engagement tool that helps businesses of all sizes enhance their marketing efforts. Bluerush is well positioned for continued growth and innovation in the coming months."

In addition to the strong financial performance, Bluerush made significant strides in expanding its customer base. The company secured several important new large enterprise customer relationships, reinforcing its position as a trusted provider of personalized video solutions. Furthermore, the company secured several IndiVideo for sales contracts, validating the effectiveness of its personalized video technology in boosting sales and driving customer conversion.

Looking toward the future, Bluerush continues to innovate and has recently launched an exciting new AI (artificial intelligence)-driven video creation capability. This cutting-edge feature allows users to create high-quality and engaging videos in minutes, leveraging the power of Chat GPT and integrating with third party content libraries. By utilizing prebuilt and configurable templates, Bluerush ensures the production of top-notch videos that captivate audiences.

The unaudited interim consolidated financial statements, and management's discussion and analysis, for the three and nine months ended April 30, 2023, have been posted under the company's profile on SEDAR. The financial information included in this news release is qualified in its entirety, and should be read together with the unaudited consolidated financial statements and management's discussion and analysis, including the notes thereto.

About Bluerush Inc.

Bluerush develops and markets IndiVideo, a disruptive, award-winning interactive personalized video platform that drives return on investment throughout the customer life cycle, from increased conversions to more engaging statements and customer care. IndiVideo enables Bluerush clients to capture knowledge and data from their customers' video interaction, creating new and compelling data-driven customer insights.

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