Fobi AI Provides Clarification On Total Holdings Previously Provided In The Company’s Information Circular

Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB)

 (the "Company" or "Fobi"), is an industry leader in harnessing AI and data intelligence to enable digital transformation. As a result of a review by the British Columbia Securities Commission, Fobi is issuing the following press release to clarify our disclosure on the information previously included in the Company's management information circulars (“Circular”) concerning CEO Rob Anson's total percentage of ownership regarding direct and indirect holdings in the Company (“Shareholdings”). 

The Shareholdings are calculated based on the issued and outstanding of the Company at the record date reported in each respective Circular.

Total	% of Issued and Outstanding
	Reported in Circular	Actual Holdings
July 8, 2020	31.22%	38.70%
Nov 3, 2021	20.64%	25.17%
Oct 31, 2022	21.39%	24.27%
Oct 30, 2023	20.23%	19.70%
Feb 21, 2024	19.27%	19.28%
May 2, 2024	15.46%	15.51%

The Company states that all represented Shareholdings for Mr. Anson are accurate and that filings for insiders and officers of the Company are current on www.sedi.ca.

To download the Fobi Investor Experience Wallet Pass to get enhanced access to investor information about Fobi, please visit our Investor Experience page.

About Fobi AIFounded 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. 

For more information, please contact:

Fobi AI Inc.	Fobi Website: www.fobi.ai
Rob Anson, CEO	Facebook: @Fobiinc
T: [phone] Ext. 3	X: @Fobi_inc
E: [e-mail]	LinkedIn: @Fobiinc

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.

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