Mr. Evan Gappelberg reports

NEXTECH3D.AI ANNOUNCES NEW 3D MODEL DEALS CONTINUING TO DRIVE ITS GROWTH, AS COMPANY SURPASSES 37,700 3D MODELS PRODUCED

Nextech AR Solutions Corp. has signed a number of exciting new deals and renewals for its 3-D modelling business, ARitize3D, which is continuing to drive its growth. Also, the company has surpassed over 37,700 3-D models delivered to its customers in various e-commerce industries and sees significant growth potential ahead as hundreds of millions of products go 3-D as merchants are pivoting from 2-D flat photos to 3-D experiences in the e-commerce marketplace.

With Nextech's breakthrough generative artificial intelligence technology, the company believes it has revolutionized the 3-D modelling industry, and gained a major competitive edge solidifying its leadership position in the global 3-D model market for e-commerce. Nextech is making it possible to create photorealistic 3-D models as digital replicas of real-world products at scale for large enterprise customers in the global $5.5-trillion e-commerce market.

Nextech chief executive officer Evan Gappelberg commented: "We are just getting rolling with our production for 3-D models and are thrilled to announce that we have surpassed 37,775 3-D models delivered to our customers. We continue to sign new deals, as we are redefining the shopping experience, bridging the gap between the physical and digital. Our advanced AI-powered 3-D modelling technology enables e-commerce businesses to showcase their products in immersive 3-D, providing valuable ROI to our customers with increased conversions and decreased returns. The massive global e-commerce ecosystem is pivoting from 2-D photos to 3-D models, and we strongly believe that we are only at the beginning of a megatrend opportunity, as Amazon alone has 300 million products that need to go 3-D. In 2023, we are very focused on scaling our business and becoming the dominant 3-D model supplier for the global e-commerce industry."

Sampling of new and renewal deals representing a variety of industries:

Recent deals:

• Transit Inc., an automotive parts manufacturer and distributor, has signed on for a variety of 3-D models of its automotive parts. It has thousands of products, representing a lot of potential for future growth;
• William Wood Mirrors, a manufacturer of mirrors and lighting, has renewed its eighth contract with Nextech;
• Arai Helmet, handcrafted motorcycle helmet manufacturer with a large variety of unique helmets;
• Hammer, a German provider of a large number variety of fitness equipment, has contracted with Nextech for more 3-D models;
• TecTake, a provider of outdoor furniture and camping items, has contracted with Nextech for more 3-D models;
• Norma, a provider of firearms and weapons, has signed on for 3-D models of its most popular products;
• Conforama, one of Europe's largest home furnishings, is working with Nextech for 3-D model proof of concepts for some of its most popular furniture products;
• Decor Metall, a leading international provider of individual presentation solutions and point-of-sale concepts, will renew with Nextech;
• Armadillo Tough, a cabinet and storage solutions company and current client that has requested more 3-D models of its cabinets;
• Bolt Inc., a South Korean company currently contracted with Nextech for 3-D models, has requested even more models with exploded view.

Update on 3-D model production

Nextech has been ramping up 3-D model production since 2021. From Q1 2021 to Q2 2023, the total number of models produced has been 37,775.

Board of directors and audit committee changes

The company would also like to announce the appointment of Nidhi Kumra, CA, CPA, to the board of directors and as the audit committee chair.

Ms. Kumra is an accounting and finance professional with over 15 years of experience in audit, finance and business operations. Ms. Kumra graduated with a bachelor of business administration from the Schulich School of Business. She has a chartered professional accountant/chartered accountant (CPA, CA) designation. Ms. Kumra started her career at KPMG where she worked for over nine years and quickly rose to become a senior manager in the audit and assurance practice, working as a team leader of large private and public client engagements. She also served as vice-president, finance, for a global marketing agency, and helped to lead a national implementation of an end-to-end ERP (enterprise resource planning) system across the enterprise. Previous to that, Ms. Kumra led the finance team at Labatt Breweries, a subsidiary of AB InBev -- a Fortune 500 company. She was a key strategic partner working on the transformation of the business through system implementations, designing corporate budgets and leading acquisition integrations. Most recently, Ms. Kumra has served as chief financial officer of entrepreneurial start-up companies in the consumer packaged goods, technology and marketing sectors. She has served as a public company CFO where she helped the company grow through evaluation, analysis and acquisition of strategic investments. As a CFO, Ms. Kumra has helped aid companies through strategic acquisitions, obtaining debt and equity investments, liquidation process, and sale process as well. She is focused on growing companies by applying her strengths in strategy, accounting, finance and tax.

Jeff Dawley has resigned as a member of the board of directors and as the audit committee chair due to personal reasons, effective June 30, 2023. Mr. Dawley has confirmed that he has no disagreements with the board and there is no other matter relating to his resignation that needs to be brought to the attention of the company's shareholders. The company and the board of directors would like to thank Mr. Dawley for his contributions and wish him well in his future endeavours.

About Nextech AR Solutions Corp.

Nextech is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3-D experiences for the metaverse. Its main businesses are creating 3-D WebAR photorealistic models for the prime e-commerce marketplace as well as many other on-line 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 spinout.

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