AITX’s RAD Receives Expected Purchase Orders for 53 RIO Units Page 1

Deployments begin this month

Detroit, Michigan, August 19, 2024 (GLOBE NEWSWIRE) — Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), is pleased to report that it has received expected purchase orders for 53 RIO units from a large Fortune 500 customer (the “Units”). These orders were previously announced, as anticipated, in a Press release of July 23, 2024.

When fully deployed, the units listed in the purchase orders, along with associated third-party monitoring contracts, are expected to generate more than $1 million in recurring revenue (ARR) annually, moving RAD closer to its goal of organically achieving $10 million in ARR this fiscal year.