Mr. Evan Gappelberg reports

NEXTECH3D.AI REPORTS SALES SURGING +550% YOY & RECORD 3D MODELING REVENUE FOR FIRST QUARTER 2023

Nextech AR Solutions Corp. has released its unaudited financial and operating results for its first quarter ended March 31, 2023.

Please join Evan Gappelberg, chief executive officer, and Andrew Chan, chief financial officer, after the close today May 18, 2023, at 5 p.m. ET, where Nextech will host a conference call to discuss these financial results.

Mr. Gappelberg, chief executive officer, commentary:

"Our first quarter 2023 results are quite impressive with 550-per-cent year-over-year growth and 40-per-cent sequential growth over Q4 2022. However, it only represents the early days of the megatrend for 3-D models in e-commerce and marks a new beginning of our growth curve. With our breakthrough generative [artificial intelligence], we are perfectly positioned to ride the $100-billion 3-D modelling wave for the next decade." He continued: "[Two thousand twenty-three] is going to be the year of AI for Nextech3D.ai and the world. Most importantly we have been working towards this moment by investing in AI going all the way back to 2019. However, we really ramped up our investment in the summer of 2021 when we put $10-million down to acquire AI start-up Threedy.ai. Today, I'm happy to report that this investment is now starting to pay dividends for our shareholders, and I expect to report additional growth in the coming quarters on the back of our continuing investment in our breakthrough generative AI."

Unaudited 2023 Q1 financial highlights:

• Total technology revenue sequential quarterly growth of plus 40 per cent on $1.3-million of revenue;
• 3-D model revenue increased plus 550 per cent compared with Q1 2022;
• Gross profit increased to 41 per cent from 39 per cent in sequential quarters and is projected to increase in Q2.

Earnings call details:

Call date:  Thursday, May 18, 2023

Time:  5 p.m. (GMT-04:00) Eastern Time (US and Canada)

Participant Details:

Participant Toll-Free Dial-In Number:   1 (888) 330-2024

Participant Toll Dial-In Number:   1 (646) 960-0187

Conference ID:   7778367

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

About Nextech3D.ai

(formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2 is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The Company 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 spin-out.

On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway Corp. with 13 million shares, or a 50 per cent stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the OTCQB (OTC:ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.

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

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