Mr. Josh Bruni reports

AMERICAN AIRES ANNOUNCES FILING OF CORRECTIVE DISCLOSURE PURSUANT TO OSC REVIEW

American Aires Inc., further to the review by the Ontario Securities Commission (OSC) of the company's continuous disclosure and a subsequent request from OSC staff in connection therewith, has made corrective disclosure with respect to the following documents:

• Management's discussion and analysis for the year ended Dec. 31, 2021;
• Management's discussion and analysis for the period ended March 31, 2022;
• Management's discussion and analysis for the period ended June 30, 2022; and
• Management's discussion and analysis for the period ended Sept. 30, 2022.

Corrective disclosure was requested by OSC staff in connection with the company's application to revoke the failure-to-file cease trade order issued by the OSC on May 6, 2022.

For the purpose of making corrective disclosure, and in accordance with OSC Staff Notice 51-711 (revised) -- Refilings and Corrections of Errors (SN 51-711), the company has filed revised versions of the MD&As on SEDAR providing additional details and clarifications with respect to the company's business, operations, financial performance, recent events and trends, primary contracts, objectives, and milestones. Certifications of interim and annual filings for each MD&A, as applicable, will also be filed by the company as part of its corrective disclosure and in compliance with National Instrument 52-109 -- Certification of Disclosure in Issuers' Annual and Interim Filings.

Furthermore, at the request of the OSC, on Jan. 16, 2023, the company filed material change reports relating to the appointment and resignation of certain officers and directors of the company in late 2021 and throughout 2022.

As a result of having to provide such corrective disclosures, the company will be placed on the public list of refiling and errors in accordance with SN 51-711.

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 electromagnetic radiation 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 the ticker WIFI and on the OTCQB under the symbol AAIRF.

We seek Safe Harbor.