Fobi AI Inc. (TSXV:FOBI) signed an agreement to acquire certain business assets of Wallet from Wallet Communication Sl for approximately ?0.11 million on October 3, 2023. Pursuant to the APA, the purchase price of the Transaction will be ?29,010 (?Initial Purchase Price?), payable by the issuance of that number of common shares of the Company. As additional consideration, the Company has agreed to pay to the Vendor an additional ?81,000 (the "Earn-Out Share Value"), payable in common shares of the Company. As on April 25, 2024, Pursuant to the Amending Agreement, among other things, Fobi AI and WalletCom have clarified that the upfront consideration payable to WalletCom pursuant to the agreement shall comprise of an aggregate of 476,126 common shares in the capital of the Company (?Fobi Shares?) at a deemed price per Fobi Share of (CAD 0.088) for aggregate upfront consideration of ?0.029 million (CAD 41,899.14), and the maximum number of Fobi Shares payable pursuant to the earn-out shall be 1,559,844 Fobi Shares. Additionally, at closing of the APA, it is expected that Fobi will assume approximately ?0.0.000324 million (CAD 0.000475 million) in liabilities from WalletCom. The Company and WalletCom continue to work diligently towards completion of the transactions contemplated under the APA and expect closing to occur on or about April 30, 2024, or such other date as may be determined by the Company and WalletCom. Completion of the transactions contemplated by the APA is subject to customary approvals including the approval of the TSX Venture Exchange (the ?TSXV?). All Fobi Shares issued pursuant to the APA shall be subject to a hold period of four months and one day from the date of issuance thereof in accordance with applicable securities laws.

Fobi AI Inc. (TSXV:FOBI) completed the acquisition of certain business assets of Wallet from Wallet Communication Sl for approximately ?0.10 million on May 7, 2024. The Company has issued 476,126 common shares in the capital of
the Company (?Fobi Shares?) to Wallet Communications SL. The Fobi Shares are subject to a statutory hold period and will become free trading as of September 8, 2024.