Mr. Dimitry Serov reports

AMERICAN AIRES PROVIDES UPDATE ON CEASE TRADE ORDER

Further to its previous press releases of May 9, 2022, June 23, 2022, Aug. 2 and 26, 2022, and Sept. 21, 2022, American Aires Inc. 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 pleased to report its audit is substantially complete and it expects to be in a position to file its audited financial statements before the end of the month.

The company has been working diligently with its auditors to conclude the audit process and, at the earliest possible time, will file its audited annual financial statements, management discussion and analysis, and certificates of the chief executive officer and chief financial officer which were due to be filed on May 2, 2022, the interim financial statements, management discussion and analysis, and certificates of the chief executive officer and chief financial officer for the period ended March 31, 2022, which were due to be filed on May 30, 2022, and the interim financial statements, management discussion and analysis, and certificates of the chief executive officer and chief financial officer for the period ended June 30, 2022, which were due to be filed on Aug. 29, 2022.

The company anticipates that the annual continuous disclosure documents will be filed before the end of the month and the interim continuous disclosure documents will be filed shortly thereafter.

The Ontario Securities Commission (OSC) issued a failure-to-file cease trade order (CTO) against the company on May 6, 2022, which orders that general trading, whether direct or indirect, of the securities of the company cease. A copy of the CTO has been posted to the OSC website.

Following the filing of the continuous disclosure documents, the company will file a revocation application to revoke the CTO. The company will provide further updates as they become available.

About American Aires Inc.

American Aires is a 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'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. Aires is listed on the Canadian Securities Exchange under ticker WIFI and on the OTCQB under the symbol AAIRF.

We seek Safe Harbor.