EYEfi in Discussions with Global Autonomous Vehicle and Drone Market

• Spatial tracking and intelligence gathering from unmanned vehicles made possible using EYEfi's SPARC technology onboard sensors and cameras
• Covert application without the use of GPS, internet, or satellite
• Situational awareness, asset protection and personnel safety

TORONTO, ON / ACCESSWIRE / March 1, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI)(OTC PINK:EGTTF) ("EYEfi") is pleased to announce that EYEfi CEO Simon Langdon will be meeting with enterprise customers in the US next month in a global push for the use of SPARC technology in drones and autonomous vehicles.

EYEfi's SPARC technology is a disruptive and foundational capability that offers entirely new levels of situational and spatial awareness for government, large enterprise, defence and consumer markets. SPARC can inform the location of anything that can be seen in the real world, simply by pointing a camera at it, in real-time and over long distances. The technology can be utilized using cameras on fixed, mobile, airborne and Smartphone devices.

The proprietary technology uses a set of patented specialised algorithms and does not use GPS, internet, or satellite. EYEfi is in discussions with several enterprise customers for the use of the SPARC technology, and its broader product suite in a variety of commercial settings including autonomous vehicle and drone manufacturers in the US and Australia.

EYEfi's product suite has broad commercial uses and has proven successful in commercial installations including:

• Transurban Group's (ASX:TCL) ($38B market cap), using EYEfi's IIoT sensors in its toll road network in flood prone areas in Australia.
• Melbourne Water Corporation's using EYEfi's SPARC technology throughout its water catchment assets in areas of high bushfire risk
• Department of Transport, where EYEFi's Automated Incident Management (AIM) technology is used to report more than 3,000+ road incidents per month and is currently installed and utilized across the entire fleet of Incident Management Vehicles.
• Automatic monitoring of public space waste bins and stormwater drains, for government and waste management clients

---- end ---

About EYEfi in detail:

EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.

EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.

EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.

On behalf of the board of directors of

EYEFI GROUP TECHNOLOGIES INC.

"Simon Langdon"

Simon Langdon, CEO

For more information contact:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid 19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.

Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE: EYEfi Group Technologies Inc.