File: '\\swfile\EmailIn\20261023 142928 Attachment Kalma - WSI QT News Release -Termination of LOI Oct 23 2026 FINAL.docx'

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AC/14841507.1

FOR IMMEDIATE RELEASE

KALMA CAPITAL CORP. ANNOUNCES TERMINATION OF

LETTER OF INTENT FOR PROPOSED QUALIFYING TRANSACTION

Vancouver, British Columbia - October23, 2026

Kalma Capital Corp. ("Kalma") (TSXV:KALM.P) announces that, further to Kalma's news release dated July 3, 2026 of Kalma and, the Letter-of-Intent dated June 16, 2026 (the "LOI") between Kalma and Westsphere Systems Inc. ("WSI") regarding a proposed Qualifying Transaction (the "Transaction") has terminated. The Transaction was intended to result in WSI becoming the operating business of the resulting issuer (the "Resulting Issuer"), subject to fulfillment a number of conditions, including, among others, completion of due diligence, execution of a definitive agreement, TSX-V acceptance, and completion of a concurrent financing. Certain conditions on the part of WSI were not met and Kalma elected to terminate the LOI.

ABOUT KALMA CAPITAL CORP.

Kalma Capital Corp. is a Capital Pool Company listed on the TSX-V. Kalma was established for the purpose of identifying and evaluating assets or businesses with a view to completing a Qualifying Transaction pursuant to TSX-V Policy 2.4. The Company is seeking new opportunities for the acquisition of assets or a business and will provide updates as developments take place.

For further information, please contact:

Luc Pelchat, Chief Executive Officer

Telephone: (604) 684-4535

E-mail: pelchatluc30@gmail.com

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION

This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding future business plans, anticipated ownership interests, banking initiatives, regulatory approvals, public listing objectives, growth opportunities, financing activities and closing timelines. Forward-looking statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the control of Kalma and WSI. There can be no assurance that a Qualifying Transaction will be completed. Readers are cautioned not to place undue reliance on forward-looking statements. Kalma does not undertake any obligation to update forward-looking statements except as required by applicable law. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.