INEO Announces Settlement with COENDA

Surrey, British Columbia--(Newsfile Corp. - May 28, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO") is pleased to announce that the Company has entered into a settlement agreement (the "Agreement") with COENDA Investments Holdings Corp. ("COENDA") and its controlling shareholder, Kerem Akbas ("Akbas"). The Agreement settles the requisition of a special meeting of the shareholders of INEO by COENDA dated April 7, 2025 (the "Requisition") and the issues contemplated in the Requisition, as previously disclosed in the news release dated April 28, 2025.

Under the terms of the Agreement:

• INEO will appoint David Eaton to its board of directors (the "Board"), the Audit Committee of the Board and Governance and Nominating Committee of the Board, effective immediately.

• The new Board will initiate a search for a new CFO.

• INEO has entered into a license agreement with BON Intelligence, a company affiliated with COENDA and Akbas, pursuant to which BON Intelligence will have a license to produce and sell the INEO Welcoming System for an initial licensing fee, a royalty for each unit installed, and monthly fees for each unit that is connected to the INEO network.

• COENDA and Akbas have withdrawn the Requisition and accepted customary standstill provisions.

• During the term of the standstill INEO has granted COENDA participation rights to maintain its interest in the event of any equity financing by INEO.

• The obligations under the Agreement will be in place until the earlier of INEO's 2027 Annual Meeting and May 27, 2027.

With the execution of the Agreement, INEO has cancelled the shareholder meeting scheduled for August 8, 2025.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which will be available under INEO's profile on the SEDAR+ website at www.sedarplus.ca.

About David Eaton

Mr. Eaton brings over 25 years of extensive experience in public markets, with deep expertise in corporate finance, corporate governance, and strategic global business development. Throughout his career, he has played a pivotal role in the operations of various public companies across a diverse range of industries, including real estate, mining, tourism, retail, and manufacturing. He currently serves as the Chairman of Baron Global Financial Canada Ltd. and sits on the board of directors of Penbar Capital Ltd.