Mr. Dimitry Serov reports

AMERICAN AIRES ANNOUNCES ISSUANCE OF PROMISSORY NOTE AND UPDATE ON FINANCIAL STATEMENTS

American Aires Inc. has issued a grid promissory note dated May 26, 2022, with an arm's-length lender, whereby the lender agreed to advance up to $500,000 (in $100,000 increments if and as needed) to the company pursuant to the terms as follows. The loan will primarily be used for working capital purposes.

The Loan will be evidenced by a promissory note in favour of the Lender. The maturity date of the Loan is one (1) year from the date of the Note (the "Maturity Date") and the rate of interest is 8% per annum. The Company has agreed to pay a royalty of 3.5% from net sales for every C$100,000 loaned to the Company, subject to a maximum royalty of 17.5%. The royalty will exist until the Loan is repaid in full.

Financial Statement Update

Further to its press release dated May 9, 2022, the Company continues to experience delays regarding the filing of its audited annual financial statements, management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the "Required Filings") for the year ended December 31, 2021, which were due to be filed on May 2, 2022. The Company continues to work diligently with its auditors and third-party fulfillment centres and anticipates that it will complete the Required Filings by late-June.

About American Aires Inc.

American Aires Inc. is Canadian-based nanotechnology company which 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. Aires' Lifetune products specifically target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors, Wi-Fi radiation, including the rapidly expanding next-generation high-speed 5G networks. Aires is listed on the CSE under ticker 'WIFI'. Learn more at www.airestech.com.

We seek Safe Harbor.