Fobi AI (TSXV: FOBI) Issues Corporate Update on Business Transition; Schedules Live Product Demo for October 7

Vancouver, British Columbia, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Fobi AI Inc. (TSXV: FOBI) (Pink: FOBIF) (the “Company” or “Fobi”) today provided a corporate update on its recently introduced Fobi Flywheel, its active legacy businesses and its intended strategic focus for the balance of 2026.

Since trading in the Company’s shares resumed, Fobi has introduced four products that form the Fobi Flywheel, the focus of its future development and commercial strategy. Fobi believes this product stack is timely as organizations seek to deploy AI securely and at scale. Each product addresses a distinct need independently; together, they connect sovereign AI, trusted identity, coordinated action and conversational access.

The Fobi Flywheel

FORTRESS is Fobi’s sovereign enterprise AI infrastructure, designed to bring intelligence to an organization’s data and workflows while supporting control over its information and deployment environment.

AltID 3.0 is Fobi’s identity and digital trust platform, designed around verified identity, continuous authentication, verified presence and security capabilities intended for the post quantum era.

FIXYR is Fobi’s intelligent communication and orchestration layer, designed to connect requests with the systems and processes needed to produce an outcome.

AgenticBrain is Fobi’s conversational interaction layer, designed to let people access services and complete authorized tasks through natural language and familiar communication channels.

Each Flywheel product is designed to serve customers independently, while the products can also be combined as needs expand. Fobi believes this flexibility can address more customer needs, deepen relationships and create a foundation for future growth. The Company intends to focus its development and commercial efforts on advancing the Flywheel and bringing its capabilities into customer deployments.

From Strategy to Working AI

AI is moving faster than many businesses can put it to work. The opportunity now is to turn AI strategy into secure solutions that operate in the real world and deliver measurable value. Fobi believes its connected product stack and delivery capabilities can help customers move from a defined business problem to a working deployment with speed and agility.

Fobi intends to work with customers through design, integration and deployment, using FORTRESS, AltID 3.0, FIXYR and AgenticBrain independently or together where each adds value. Customers can begin with one immediate need and expand across the Flywheel as requirements evolve, with the goal of delivering measurable outcomes across organizations and markets.

Going Long and Narrow

Fobi believes the opportunity ahead requires sustained execution across a carefully selected set of connected capabilities. Management therefore intends to concentrate its attention, development efforts, commercial resources and capital allocation on the Fobi Flywheel, its consultancy and deployment model, and the markets where the Company believes it can create the greatest value. This focused approach is intended to move Fobi from operating a collection of separate businesses toward building and commercializing one expanding ecosystem.

“Our established businesses continue to serve customers and generate revenue, and we will support them as we execute the transition,” said Rob Anson, President and CEO of Fobi AI. “Sovereign AI has become an immediate business need. Recent disclosures from Anthropic and OpenAI underscore the risks that emerge when AI agents access sensitive information and take action. We architected Fobi’s new products with these challenges in mind: enterprise control through FORTRESS, trusted identity through AltID, coordinated action through FIXYR and natural interaction through AgenticBrain. Each is designed to address a need independently, and together they are intended to give customers a more controlled path to deploy AI with confidence. Our focus now is to demonstrate these capabilities and move them into working deployments. We believe trust will determine which companies lead the next era of enterprise AI, and we are building Fobi for that moment.”

A Focused Transition from Established Businesses

Passwallet, Passworks and Qples remain live businesses serving customers and generating revenue. Fobi intends to continue supporting existing customers and fulfilling its obligations as it evaluates the best path for each business within its broader strategy.

Passwallet and Passworks. Both businesses remain active and continue serving customers. Fobi is currently developing a next generation wallet platform designed to support the current Fobi Flywheel and future capabilities as they are introduced.

Once that platform is complete and an appropriate customer transition can be arranged, the Company intends to pursue a sale of the existing Passwallet business. Fobi is also reviewing how Passworks and its customer relationships, capabilities and assets may support or transition within the Company’s focused strategy. No sale agreement has been entered into for Passwallet, and no transaction involving Passworks has been announced. The timing and terms of any transaction remain to be determined.

Qples. Fobi intends to explore a sale of the Qples business or a strategic joint venture that could include an equity interest. The Company will assess potential structures according to their ability to preserve or create value while allowing management to concentrate resources on the Fobi Flywheel. There can be no assurance that a transaction will result.

Management is targeting a transition of the legacy businesses and related assets by the end of 2026 where commercially practical. The timing and form of any transition will depend on customer continuity, market interest, negotiated terms and any required approvals. Until then, these businesses remain operational and continue to serve their customers.

Live Interactive Product Demo

Fobi will host a live interactive product demo on October 7, 2026, at 8:30 a.m. Pacific Time (11:30 a.m. Eastern Time). The session will give participants a direct look at the Fobi Flywheel and how its connected products are designed to work together. Fobi shareholders and other participants are asked to register for the live demo using this link: https://luma.com/qr1zmoft

New Website and Investor Pass

Fobi’s new website is now live at www.fobi.ai, bringing the Company’s evolving technology portfolio and strategic direction together in one place. The new Fobi Investor Pass is also ready for download, providing shareholders and prospective investors with a mobile way to stay connected to Company information and updates. Visit www.fobi.ai for details.

Fobi expects to share further developments ahead of its October 7 live demonstration and as the Flywheel advances. Four products have been introduced. Each stands on its own. As their connections come into focus, a larger opportunity begins to emerge.

About Fobi AI

Fobi AI Inc. (TSXV: FOBI, Pink: FOBIF) is building sovereign intelligence, identity and digital trust infrastructure for the AI era. Through FORTRESS, AltID 3.0, FIXYR and AgenticBrain, Fobi is developing a connected technology ecosystem designed to help organizations securely connect information, systems, people and workflows. For more information, visit www.fobi.ai.

Contact

Fobi AI Inc.
Rob Anson, President and CEO
rob@fobi.ai
ir@fobi.ai
+1 877 754 5336 Ext. 3

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.

Forward Looking Information

This release contains forward looking information within the meaning of applicable securities laws, including statements concerning the development, integration and commercialization of FORTRESS, AltID 3.0, FIXYR, AgenticBrain and a next generation wallet platform; the potential benefits and adoption of the Fobi Flywheel and its consultancy and deployment model; the planned live interactive product demonstration; the Company’s intended allocation of resources and strategic focus; the continued operation and potential transition of Passwallet, Passworks and Qples; the timing and possible completion of a Passwallet sale, a Qples sale or a strategic joint venture; and the anticipated transition of legacy businesses and assets by the end of 2026.

This information is based on management’s current expectations and assumptions, including the availability of financing and development resources, progress toward product completion, customer and partner demand, continuity of existing operations, the availability of suitable counterparties, acceptable transaction terms and any necessary corporate, exchange or regulatory approvals. Actual results may differ materially because of product development and integration challenges, execution and financing risks, changes in customer demand or market conditions, inability to identify a buyer or partner, failure to agree on acceptable terms, delays in obtaining approvals and other risks described in the Company’s public disclosure. No transaction or transition is assured, and the Company may change its plans as circumstances develop. Readers should not place undue reliance on forward looking information. Except as required by applicable securities laws, the Company undertakes no obligation to update it.