Mr. Evan Gappelberg reports

NEXTECH3D.AI REPORTS UNAUDITED FISCAL YEAR 2022 AND FOURTH QUARTER 2022 FINANCIAL RESULTS

Nextech AR Solutions Corp. has released its unaudited financial and operating results for its fourth quarter and fiscal year ended Dec. 31, 2022.

Please join Evan Gappelberg, chief executive officer, and Andrew Chan, chief financial officer, today after the close today April 20, 2023, at 5 p.m. where Nextech will host a conference call to discuss these financial results.

Evan Gappelberg -- chief executive officer commentary:

"In 2022, our company placed significant emphasis on addressing the growing global demand for our 3-D modelling and AR solutions designed for the e-commerce sector in Web3.0. As we progress into 2023, we are seeing continued evidence of this trend, with our business remaining strong and experiencing growth. As previously announced in Q3 of 2022, Amazon became our customer, making them our largest enterprise customer for 3-D model delivery in e-commerce. As Amazon is widely regarded as a leader in e-commerce, their decision to transition from 2-D to 3-D models serves as a strong indicator of the direction the industry is heading towards. We believe this highlights the staying power of 3-D models, which will continue to drive the multidecade, $5-trillion dollar e-commerce megatrend moving forward." He continued: "In the coming decade, 3-D models will be a prerequisite for competing in various industries such as e-commerce, medicine, education and events. At Nextech, we specialize in creating superior, cost-effective and timely 3-D models. We make them better, faster and cheaper than any other company I know of, and this positions us to be the leaders of this rapidly growing, trillion-dollar megatrend. While it was quite a challenge to get here, we are here now and we are confident that we are optimally positioned to benefit from the rapid growth in demand for 3-D models. From our vantage point we see nothing but blue sky opportunities."

Unaudited 2022 Q4 and 2022 fiscal year financial highlights

• Total fiscal revenue of $11.5-million (including legacy e-commerce business);
• Technology services revenue of $3.2-million;
• Legacy e-commerce business revenue of $8.3-million
• 3-D modelling revenue increased 266 per cent compared with 2021 contributing $1.5-million in 2022;
• 2022 technology service gross profit margin expands by 82 per cent jumping from 51 per cent in 2022 compared with 28 per cent in 2021 on $3.2-million revenue;
• Technology business contributed $1-million in Q4 revenue up 14 per cent sequentially compared with Q3.

Conference call details:

Title:  Nextech3D.ai fiscal year 2022 and q4 2022 financial results

Call date:  Thursday, April 20, 2023

Time:  5 p.m. Eastern Time (United States and Canada)

Participant toll-free dial-in number:  1-888-330-2024

Participant toll dial-in number:   1-646-960-0187

Earnings call ID:  7778367

For those unable to join the live event, a recording of the presentation will be posted on the company's investor relations website.

About Nextech AR Solutions Corp.

Nextech is a company that provides AI-powered 3-D modelling solutions focusing on the e-commerce industry. Its breakthrough generative AI technology enables the creation of high-quality 3-D models quickly and efficiently. Nextech's suite of products, including patented AI-based technology for 3-D model creation and 2-D to 3-D conversion, has positioned it as a leader in the industry. The company is already a preferred 3-D model supplier for Amazon, representing a massive growth opportunity. With the increasing popularity of e-commerce globally, Nextech's services are becoming more valuable, providing an excellent runway for continuing growth. For investors looking to participate in the commercialization of AI technology, Nextech presents a unique investment opportunity.

The company also develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spinout.

On Oct. 26, 2022, Nextech spun out its spatial computing platform, ARway, as a stand-alone public company. Nextech retained a control ownership in ARway.ai with 13 million shares, or a 50-per-cent stake, and distributed four million shares to Nextech shareholders. ARway.ai is currently listed on the Canadian Securities Exchange (CSE: ARWY), in the United States on the (OTC: ARWYF) and internationally on the Frankfurt Stock Exchange (FSE: E65). ARway.ai is disrupting the augmented reality way-finding market with a no-code, no-beacon spatial computing platform enabled by visual marker tracking.

On Dec. 14, 2022, Nextech announced its second spinout of Toggle3D, an AI-powered 3-D design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.

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