Mr. Dimitry Serov reports

AMERICAN AIRES PROVIDES NOTICE OF DEFAULT

American Aires Inc. anticipates being late in filing its audited annual financial statements and the related management's discussion and analysis (MD&A) for the year ended Dec. 31, 2021, by the prescribed deadline of May 2, 2022.

The company has experienced delays associated with the completion of its annual audit due to difficulties in obtaining third party shipping data from some of the company's fulfilment centres. The company is working with its auditor and third party fulfilment centres to conclude the process at the earliest possible time.

The company has made an application with the applicable securities regulators under National Policy 12-203, Cease Trade Orders for Continuous Disclosure Defaults, requesting that a management cease trade order be imposed in respect of the anticipated late filing rather than an issuer cease trade order. The issuance of a management cease trade order does not affect the ability of persons who have not been directors, officers or insiders of the company to trade in their securities.

The company anticipates that it will be in a position to prepare and file the annual financial statements and related MD&A on or prior to May 31, 2022.

The company confirms that it will 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 filing requirements to file the financial statements, the interim financial statements and related MD&A within the prescribed period of time. The company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

About American Aires Inc.

American Aires is Canadian-based nanotechnology company that has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). The technology was developed by a team of highly accredited scientists and confirmed by independent third party validation, including peer-reviewed studies and publications in scientific journals. American Aires's Lifetune products specifically target EMR emitted by consumer electronic devices, such as cellphones, computers, baby monitors and Wi-Fi radiation, including the rapidly expanding next-generation high-speed 5G networks. American Aires is listed on the Canadian Securities Exchange under the ticker WIFI and on the OTCQB under the symbol AAIRF.

We seek Safe Harbor.