Martello Announces CEO and Board Appointments

Interim CEO Jim Clark appointed to CEO and Director; Microsoft executive Alec Saunders joins Board of Directors.

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OTTAWA, ON, March 26, 2024 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of software that optimizes the Microsoft Modern Workplace for enterprise customers, is pleased to announce the appointments of Jim Clark as Chief Executive Officer ("CEO") and Director and software industry executive Alec Saunders to the Company's Board of Directors (the "Board"). Both appointments are effective April 1, 2024.

"I'm delighted to see Jim move into the role of CEO and Alec's appointment to our Board", said Terry Matthews, Chairman of Martello. "Jim's exemplary leadership as Interim CEO has fueled operational enhancements, propelling our trajectory towards revenue growth. I have full confidence in his ability to uphold our commitment to the Martello strategic vision and operational excellence in the CEO role. In addition, I look forward to the contribution that Alec will make to the Company, with his rich background in partner strategy and development within the Microsoft ecosystem, coupled with his entrepreneurial experience. Alec will undoubtedly contribute strategic insights that will help steer us towards success."

Jim Clark joined Martello in May 2022 as the Company's Chief Financial Officer ("CFO"), and in November 2023 assumed the additional role of Interim CEO. As Interim CEO Mr. Clark has optimized Martello's organizational structure and attracted high caliber talent to the Company while overseeing improvements to Martello's sales and demand generation processes, designed to accelerate revenue growth in the future. Mr. Clark brings more than 25 years' experience executing strategies and business plans to increase shareholder value in private and publicly traded organizations. Mr. Clark holds a CPA designation and a Bachelor of Commerce degree from Concordia University. The Company expects to announce the appointment of a CFO in due course.

"I am honoured to assume the position of CEO and eagerly anticipate accelerating growth with the re-focused Martello team", said Jim Clark. "My foremost objective is driving revenue growth and shareholder value through disciplined execution of our direct and channel sales strategy. Recent enhancements to our organizational structure, coupled with the internal promotion and recruitment of top-tier talent across the organization underscore our commitment to positioning Martello for robust growth as we advance into fiscal 2025."

Mr. Saunders is a software executive and entrepreneur who currently leads partner strategy for sustainability at Microsoft. In his 17-year tenure at Microsoft, he has held progressively senior roles in partner strategy and development for early-stage products, startups and business applications. He has founded three companies and served as VP Ecosystem and Developer Relations at Blackberry.

"I'm thrilled to be joining Martello at such a pivotal time in the Company's growth", said Mr. Saunders. "I look forward to working closely with the Martello team, particularly on partner strategy and development, helping the Company to tap into the trillion-dollar Microsoft partner ecosystem to bring Vantage DX to Microsoft Teams users globally."

All officer and director appointments are subject to TSXV approval.

Martello (TSXV: MTLO) is a technology company that provides monitoring solutions to optimize the Microsoft Modern Workplace. The Company's products provide actionable insight on the performance and user experience of cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams end user experience monitoring and optimization. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific region. Learn more at http://www.martellotech.com

This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods and includes, but is not limited to, information, statements and expectations regarding activities, events or developments that the Company expects or anticipates will or may occur in the future.

Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking information relates to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking information. Therefore, you should not rely on any of the forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the following:

• Continued volatility in the capital or credit markets and the uncertainty of additional financing.
• Our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so.
• Changes in customer demand.
• Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.
• Delayed purchase timelines and disruptions to customer budgets, as well as Martello's ability to maintain business continuity as a result of COVID-19.
• and other risks disclosed in the Company's filings with Canadian Securities Regulators, including the Company's annual information form for the year ended March 31, 2021 dated January 7, 2022, which is available on the Company's profile on SEDAR at www.sedar.com.

Any forward-looking information provided by the Company in this news release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Martello Technologies Group Inc.

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