Mr. Ryan Hardy reports

PERK LABS INC. PROVIDES UPDATE ON STATUS OF MCTO

Perk Labs Inc. is providing a further update on the status of a management cease trade order (the MCTO) application to the British Columbia Securities Commission that the company announced was granted on April 3, 2024.

The company was granted a voluntary MCTO under National Policy 12-203 -- Management Cease Trade Orders (NP 12-203). As previously announced, the application for the MCTO was made by the company in order to secure additional time for the company to file its audited annual financial statements and the related management's discussion and analysis for the year ended Nov. 30, 2023, which were due on April 1, 2024.

The MCTO prohibits all trading in the capital of the company, whether directly or indirectly, by the company's CEO (chief executive officer) and CFO (chief financial officer). The MCTO does not affect the ability of other shareholders to trade in the securities of the company.

The company and its auditor continue to work diligently toward completing the annual filings as soon as possible. The company maintains its expectation that it will be in a position to file the annual filings on or before May 31, 2024.

The company confirms that since the date of the announcement: (i) other than as described herein, there has been no material change to the information set out in the announcement that has not been generally disclosed; (ii) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the company under NP 12-203; and (iv) there is no other material information concerning the affairs of the company that has not been generally disclosed.

The company will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the noted filing requirements

About Perk Labs Inc.

Perk Labs, the owner of Getit Technologies Inc. and Perk Hero Software Inc., provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR (quick-response) code or NFC (near-field communication) sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments -- environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multitransaction brands such as stadiums and arenas, university and college campuses, conference centres, hotels and resorts, festivals and events, and professional service companies.

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