An anonymous director reports

MCLOUD PROVIDES UPDATE ON FILING OF FINANCIAL STATEMENTS

mCloud Technologies Corp. is providing an update on the status of the filing of its annual financial statements, accompanying management's discussion and analysis, related chief executive officer and chief financial officer certifications, and annual information form for the financial year ended Dec. 31, 2022. The company is continuing to work diligently and expeditiously to complete and file the annual filings as soon as possible. As previously announced, the company has been granted a management cease trade order by the British Columbia Securities Commission.

The company intends to follow the provisions of the alternative information guidelines set out in National Policy 12-203 for so long as the annual filings are outstanding, including the issuance of biweekly default status reports in the form of news releases similar to this release, all of which will be filed on SEDAR. The company confirms that there are no insolvency proceedings against it as of the date of this press release. The company also confirms that there is no other material information concerning the affairs of the company that has not been generally disclosed as of the date of this press release.

About mCloud Technologies Corp.

mCloud is unlocking the untapped potential of energy-intensive assets with cloud-based solutions that curb energy waste, maximize energy production, eliminate harmful emissions and get the most out of critical energy infrastructure. Through mCloud's portfolio of AssetCare solutions, mCloud enables asset owners and operators in energy- and asset-intensive industries such as oil and gas, wind, and commercial facilities to use cloud-based digital twins, artificial intelligence, and analytics to optimize asset performance, reliability and sustainability. mCloud has a worldwide presence with offices in North America, Europe, the Middle East and Asia-Pacific. mCloud's common shares trade in the United States on Nasdaq and in Canada on the TSX Venture Exchange under the symbol MCLD.

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