Coenda Clarifies Inaccuracies in Recent INEO Tech Corp. Disclosure - Seite 2

On the date that Coenda's requisition was delivered, it had not, and as of the date of this press release, Coenda has not identified or proposed a slate of directors to replace Mssrs. Watkins, Hall, and Matyas. Coenda has not, and does not presently intend before the shareholder meeting scheduled for August 8, 2025, to acquire any additional securities in INEO. Similarly, Coenda has not, and does not presently intend to publicly solicit proxies with respect to the proposals it has advanced for the upcoming shareholder meeting.

Coenda reaffirms its position that the proposed board changes are solely intended to address governance and compliance issues and are not part of any broader strategy or intention to acquire further shares or influence corporate control.

Coenda notes the following corrections to INEO's press release dated April 28, 2025:

1. Assurances Regarding Board Changes: Coenda never provided assurances that it would not seek changes to the board. On the contrary, pursuant to an investor's rights agreement approved by the shareholders of INEO, one condition of Coenda's investment was altering INEO's board composition to permit the appointment of Coenda's nominee, Mr. Kerem Akbas. Any representations made to the TSX by INEO were made without Coenda's consent.

2. Strategic Investment: Coenda's investment in INEO was intended to bolster INEO's finances and to strategically strengthen its competitiveness. At all times, Coenda has been actively involved in the governance and affairs of INEO, and it was a condition of Coenda's investment that it would be entitled to at least one board seat. Mr. Akbas, the primary shareholder of Coenda, has extensive global experience in INEO's industry. Mr. Akbas has offered his wealth of knowledge to INEO to maximize long-term shareholder value, including by bringing a significant contract, making introductions to a credible producer, and facilitating a world-class sales channel partnership. Regrettably, Mr. Akbas' queries, suggestions, and proposals have, to date, been met with significant resistance from INEO.

3. Incomplete Disclosure of Coenda's Requisition: The full text of Coenda's requisition, which provides context and the basis for the resolutions proposed by Coenda, has not been disclosed to shareholders by INEO. Coenda expects that the full text of its requisition will be provided to all shareholders in the company's information circular as required by Sections 167(5)(b) and 167(6)(b) of the British Columbia Business Corporations Act.