Mr. Josh Bruni reports

AMERICAN AIRES INC. ANNOUNCES POSITIVE EBITDA WITH ITS FILING OF Q3 2023 FINANCIAL STATEMENTS, AND MD&A

American Aires Inc. has filed its unaudited financial statements and management's discussion and analysis (MD&A) for Q3 2023, spanning from July 1 to Sept. 30, 2023.

This quarter is particularly notable as it marks the first instance of positive EBITDA (earnings before interest, taxes, depreciation and amortization) in the company's history. This achievement is a direct result of the strategic decision made on Aug. 28, 2023, to outsource the retail segment, including sales, COGS (cost of goods sold), marketing and advertising expenses to HUCK Project LLC. The financial results for Q3 2023 reflect this shift to the new business model, combining the company's traditional operations with the outsourced model. Consequently, this quarter should be considered a transition period, distinct from past results.

In Q3 2023, Aires's total order volume increased to $3.05-million from $1.64-million in the same quarter of the previous year, an 85-per-cent increase. In terms of adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) (non-IFRS (international financial reporting standards) measure), excluding one-time items, there was a 106-per-cent improvement, leading to an adjusted net profit of $70,000, compared with a net loss of $1.14-million in the same period last year. The net loss for the quarter was reduced to $240,000, an improvement of $1.04-million compared with last year. Consequently, Aires reported sales of $2.09-million, a gross profit of $1.39-million and a cash royalty income of $120,000 from HUCK in Q3 2023.

Chief executive officer of American Aires, Josh Bruni, commented: "Achieving our first positive EBITDA quarter is a defining moment for Aires. It reflects not just our focus on building financial resilience but also the strength of our vision and strategy. This milestone is a clear indicator of our growth and our dedication to innovation and operational excellence. We are excited about the future and remain committed to delivering value to our customers and shareholders alike."

About American Aires Inc.

American Aires is a Canadian-based nanotechnology company committed to enhancing well-being and environmental safety through science-led innovation, education and advocacy. American Aires has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). American Aires's Lifetune products target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors and Wi-Fi, including the more powerful and rapidly expanding high-speed 5G networks. American Aires is listed on the CSE under the ticker WIFI and on the OTCQB under the symbol AAIRF.

We seek Safe Harbor.