CHAI

• Revenue in Q3 2024 was $5.9 million, a significant increase from previous quarters.
• U.S. market revenue was $4.8 million, making up 81% of total revenue in Q3 2024.
• Increase in revenue was due to increased demand for SD7 handset and accessories and inventory to fulfill demand.
• Excitement about rapid adoption of PTT product portfolio across sales channels.
• Plan to launch 5G product portfolio in 2025, with T-Mobile being the first carrier to launch part of it.
• Gross margin percentage improved in Q3 2024 compared to Q3 2023.
• SG&A expenses increased due to marketing expenses related to investor awareness.
• Adjusted EBITDA was negative in Q3 2024 but increased negative variance compared to Q3 2023 due to marketing expenses.
• Working capital decreased, but adjusting for certain liabilities shows a different picture.

• Goal of strong year-over-year revenue growth and reaching profitability in coming quarters.
• Anticipation of significant growth from the displacement of land mobile radio by push to talk over cellular.
• Expectation of 5G product portfolio launch in 2025 with T-Mobile leading and more carriers potentially following.

In the third quarter of 2024 ended September 30, revenue was $5.9 million, a 218% increase compared to $1.8 million in Q3 2023 and a 210% increase compared to $1.9 million in Q2 2024. Revenue from the U.S. market was $4.8 million, which is 81% of total revenue. For the nine months ended September 30 2024, total revenue was $10.1 million, up from $6.3 million in the same period of 2023. Gross margin percentage in Q3 2024 was 29% vs 26.6% in Q3 2023. Gross margin dollars increased from $500,000 to $1.7 million in Q3 2024. SG&A expenses in Q3 2024 were $4.7 million vs $2.7 million in Q3 2023. Adjusted EBITDA in Q3 2024 was negative $3.3 million vs negative $1.6 million in Q3 2023. Working capital as of September 30, 2024 was $200,000 vs $1.3 million as of December 31, 2023.

• Forward-looking statements are subject to inherent uncertainties, risks, and changes in circumstances difficult to predict.
• Actual results may differ materially from forward-looking statements.
• Risks discussed in the Risk Factors section and annual report on Form 20-F filed with SEC.

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