TORONTO, July 14, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT, OTCQB: CYBCF) is pleased to announce that yesterday, July 13, the White House published its National Cybersecurity Strategy Implementation Plan (NCSIP). The plan included SBOM (Software Bill of Materials) as one of the key pillars in its comprehensive approach and oversight of national cybersecurity.^[1]

“Cybeats is at the forefront of a paradigm shift in cybersecurity, which includes SBOM as a momentous change in software supply chain practices including providing transparency to government institutions for enhanced risk mitigation,” said Yoav Raiter, CEO, Cybeats. “Several market segments have already begun to prioritize SBOM management and proactive cyber resilience efforts, but this White House announcement further exemplifies the widespread industry and regulatory tailwinds that are driving the market for SBOM Studio, and helped to fuel the impressive commercial expansion that Cybeats is achieving.”

“Cybeats is actively participating and contributing to the SBOM standard by participating in the working groups by CISA, and pleased to observe the U.S. administration and its push to the adoption of SBOM” said Dmitry Raidman, CTO, Cybeats. “This White House statement further cements the importance of enhanced transparency over the software supply chain, and we are excited to be at the forefront of this important industry shift.”

Five Pillars of the NCSIP

• Pillar One - Defending Critical Infrastructure

• Pillar Two - Disrupting and Dismantling Threat Actors

• Pillar Three:

“Software Bill of Materials: Increasing software transparency allows market actors to better understand their supply chain risk and to hold their vendors accountable for secure development practices. CISA continues to lead work with key stakeholders to identify and reduce gaps in software bill of materials (SBOM) scale and implementation. CISA will also explore requirements for a globally-accessible database for end of life/end of support software and convene an international staff-level working group on SBOM”.^[2]

• Pillar Four - Investing in a Resilient Future

• Pillar Five - Forging International Partnerships to Pursue Shared Goals

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NCSIP Initiative 3.3.2 - Advance SBOM, Mitigate Software Risks

“In order to collect data on the usage of unsupported software in critical infrastructure, the Cybersecurity and Infrastructure Security Agency will work with key stakeholders to identify and reduce gaps in SBOM scale and implementation. CISA will also explore requirements for a globally-accessible database for end-of-life software and convene an international staff-level working group on SBOM. The Administration will promote the further development of SBOMs; and develop a process for identifying and mitigating the risk presented by unsupported software that is widely used or supports critical infrastructure.”

The Federal Government, in coordination with CISA, will develop a plan of action to secure software and systems through collective operational defense, increased availability of centralized shared services, and software supply chain risk mitigation. These initiatives will build on prior programs and prioritize actions that advance a whole-of-government approach to cyber defense. The software supply chain risk mitigation objective, developed in coordination with NIST will build on the implementation of EO 14028^[3] from 2021, ‘Improving the Nation’s Cybersecurity,’ NIST’s Secure Software Development Framework, and related efforts to improve open-source security.^[4]

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About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. The SBOM Studio platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com

SUBSCRIBE: For more information, or to subscribe to the Company’s mail list, visit: https://www.cybeats.com/investors

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Contact:

James Van Staveren

Corporate Development

Phone: 1-888-713-SBOM (7266)

Email: ir@cybeats.com

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.  There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein.  The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.  The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedar.com.

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^[1] https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/13/fact-sheet-biden-harrisadministration-publishes-thenational-cybersecurity-strategyimplementation-plan/

^[2] https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/13/fact-sheet-biden-harrisadministration-publishes-thenational-cybersecurity-strategyimplementation-plan/

^[3] https://www.whitehouse.gov/briefing-room/presidential-actions/2021/05/12/executive-order-on-improving-the-nations-cybersecurity/

^[4] https://www.whitehouse.gov/wp-content/uploads/2023/07/National-Cybersecurity-Strategy-Implementation-Plan-WH.gov_.pdf

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