Mr. David Luxton reports

KWESST ANNOUNCES ISSUANCE OF SHARES IN PAYMENT OF CERTAIN DEBTS

Kwesst Micro Systems Inc. intends to issue 46,706 common shares at a deemed price per share of $2.09 in settlement of a debt in an amount of approximately $97,615. The debt resulted in a tail obligation relating to services rendered by a third party consultant, which the company has elected to pay in common shares.

The common shares to be issued pursuant to the debt settlement (signed on Oct. 31, 2023) will be subject to a four-month hold period pursuant to applicable securities legislation and the policies of the TSX Venture Exchange.

About Kwesst Micro Systems Inc.

Kwesst commercializes breakthrough next-generation tactical systems for military and public safety agencies and personal defence. The company's current portfolio of unique proprietary offerings includes non-lethal systems (Para OpsM and Arwen) with application across all segments of the non-lethal market, including law enforcement and personal defence. Kwesst also facilitates digitization of tactical forces with its signature TASCS (tactical awareness situational control system) for real-time awareness and targeting information from any source (including drones) streamed directly to users' smart devices and indirect fire weapons. Other Kwesst products include countermeasures against threats such as lasers and electronic detection. These include: the Phantom electronic battlefield deception system to mask the electromagnetic signature of friendly forces with decoy signatures at false locations that deceive and confuse adversaries; a battlefield laser detection system to counter the emerging threat of laser targeting of personnel; and a developmental non-kinetic system to counter the threat of tactical drones. These systems can operate standing alone or integrate seamlessly with third party OEM (original equipment manufacturer) products and networked battlefield management systems such as ATAK. The company is headquartered in Ottawa, Canada, with operations in Stafford, Va., and representative offices in London, Uniged Kingdom, and Abu Dhabi, United Arab Emirates.