27 March 2023

AIQ Limited

("AIQ" or the "Company" or, together with Alchemist Codes and Alcodes International, the "Group")

New Contract

AIQ (LSE: AIQ) is pleased to announce that Alcodes International, the Group's IT consultancy business headquartered in Hong Kong, has been awarded a contract to set up a virtual datacentre.

Under the terms of the contract, which is worth US$458,600, the Group will receive payment in tranches upon completion of milestones, with the project expected to be fully delivered in approximately seven months. For this project, the Group will perform the role of project manager and subcontract the technical delivery, such that the net benefit to the Group is the margin earned on the contract.

Edwin Li, Executive Director, said: "We are delighted to have received this contract, which is from a new customer. Following our successful delivery of a DeFi DEX and an NFT marketplace, it is great to now be providing a virtual datacentre - another key element of IT infrastructure. We look forward to delivering this project and to continuing to expand our business."

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