Ms. Dawn Leeder reports

WI2WI CORPORATION ANNOUNCES THREE MONTHS ENDING JUNE 30, 2023 (UNAUDITED)

Wi2Wi Corp. has released its unaudited consolidated financial results for the second quarter of 2023 ended June 30, 2023. Notably, the company's product bookings have shown a positive trajectory, growing in comparison with the same period in the previous year.

Key financial highlights:

• Wi2Wi reported revenue of $1.56-million for the second quarter of 2023, mirroring the revenue for the same period of the previous year.
• The upswing in the book-to-billing ratio showcases the company's growth in its core customer segment and new clientele.
• Despite the promising growth, Wi2Wi acknowledges margin pressures from rising raw material costs and heightened freight charges.

Leadership transition

In light of personal obligations, Zachariah Mathews will resign as chief executive officer, president and a member of the board of directors, effective Dec. 31, 2023.

The chairman of the board, Gary Dubroc, will play an instrumental role in ensuring a smooth transition until a successor is appointed. Having held the chairman position since Nov. 21, 2018, Mr. Dubroc has also chaired the board of directors and the audit committee.

With over 25 years in the field, Mr. Dubroc's credentials include:

• Former chief executive officer of Avantech Testing Services (Houston, Tex.);
• Former vice-president of global operations at Emerson Process Management;
• Previous roles at GHX Inc., Tyco's Flow Control and General Dynamics Space Systems;
• An MBA with a focus on finance from Tulane University and a bachelor's degree in industrial engineering from Louisiana State University.

Mr. Mathews, in his departure, will not sever ties but continue to extend his support to the company. Mr. Dubroc and the board of directors extend heartfelt gratitude to Mr. Mathews for his invaluable contribution to Wi2Wi.

About Wi2Wi Corp.

Wi2Wi enables customers to substantially reduce their wireless R&D (research and development) expenses and time to market. Wi2Wi designs, manufactures and markets deeply integrated, end-to-end wireless connectivity solutions as well as customizable, high performance timing and frequency control devices. Wi2Wi provides real-time technical support throughout the entire product life cycle for customers across the Internet of Things (IoT), industrial Internet of Things (IIoT), avionics, space, industrial, medical and government sectors.

Wi2Wi was founded in 2005 and is strategically headquartered in San Jose, Calif., with satellite offices in Middleton, Wis., and Hyderabad, India. Wi2Wi's manufacturing operations and its laboratory for reliability and quality control, together with design and engineering for timing and frequency control devices, are located in Middleton, Wis. The branch office, located in Hyderabad, India, focuses on developing end-to-end wireless connectivity subsystems and solutions.

Wi2Wi has partnered with best-in-class global leaders in technology, manufacturing and sales. The company uses a global network of manufacturer representatives to promote its products and services and has partnered with world-class distributors for the fulfilment of orders, along with direct sales.

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