VANCOUVER, BC, August 2, 2023, Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (the "Company" or "Fobi"), an industry leader in harnessing AI and data intelligence to enable digital transformation, is pleased to announce that the Company has signed a data license agreement with Phillips Brewing & Malting Co. The data license agreement will provide Phillips Brewing with a fully automated data intelligence tool delivering real-time analytics, insights, and forecasting capabilities at the liquor retail store level as well as the first-of-its-kind industry-level performance and positioning insights. Fobi will generate revenue from this deal through monthly license fees.

FOBI'S REAL-TIME ANALYTICS TO PROVIDE PHILLIPS BREWING WITH IN-DEPTH MARKET INSIGHTS & ENABLE DATA-DRIVEN DECISIONS

Traditionally, many breweries have little insight into the movement of activity for their shipment data, which causes brands to continuously stock more inventory or ship more products without fully understanding what that looks like on a transactional level. As a part of this new agreement, Fobi will provide Phillips Brewing with an advanced analytics platform to help the brewery better understand its business, specifically as it relates to private retail liquor store performance (by SKU) as well as the company's market share among regional breweries and across British Columbia's beer industry overall.

Fobi’s custom dashboard will enable Phillips Brewing to build detailed customer profiles based on various factors, including demographics, purchase history, and spending patterns, to better cater to its customers' preferences and identify emerging industry trends. Phillips Brewing will also gain greater visibility into shoppers' basket compositions, highlighting the most popular product pairings and other brands that Phillips Brewing customers frequently interact with or purchase from. This data can ultimately provide the brewery with key insights into new opportunities that will drive continued growth and success, such as future partnerships or collaborations with the most popular brands within and beyond the craft beer segment.

David Nicholls, VP of Liquor Beverage at Fobi AI, states: "Until now, breweries have been in the dark about leveraging data to better understand their businesses and optimize their private retail performance as a result. Uncertain about where their brands competitively stand within the BC beer industry, we’re equipping breweries like Phillips with a fully automated analytics platform that delivers real-time insights to drive future growth and success, while helping them make smarter and faster data-driven decisions with precise confidence."

Matt Lockhart, National Sales Director at Phillips Brewing, states: "We believe this agreement has the opportunity to be a potential game-changer for our team at Phillips. We are excited to begin leveraging the impressive real-time data intelligence solutions Fobi has provided us with. We take great pride in the quality products we craft, and now, looking forward, we will be able to focus on leveraging data to make faster data-driven decisions that help us serve our customers in new, engaging ways.”

Rob Anson, CEO of Fobi AI, states: “This is a very well-timed and supported agreement with Phillips Brewing. It aligns perfectly with our anticipation of the value realization of which the Fobi Data Exchange is poised to deliver to both our liquor clients and, most importantly, our valued shareholders.”

The Company looks forward to providing additional material updates as they occur over the upcoming weeks.

This press release is available on the Fobi website.

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About Phillips Brewing & Malting Co.

Phillips Brewing & Malting Co. is a Canadian craft brewery located in Victoria, British Columbia. Known for its commitment to using premium ingredients and sustainable practices, Phillips Brewing offers a wide range of craft beers in addition to small-batch distilled spirits, craft-brewed non-alcoholic beer, and house-made sodas and tonics. With community engagement and involvement at its core, Phillips Brewing often collaborates with other breweries and local businesses to create special edition and limited-release brews. For more information, please visit https://www.phillipsbeer.com. 

About Fobi AI

Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.

Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.

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This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

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