TORONTO, March 8, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT) is pleased to provide a summary of the S4 event in Miami, widely recognized as the pivotal conference for Operational Technology (OT) and Industrial Control System (ICS) security, as well as the industry’s first  ‘SBOM Challenge’. The competition not only brought visibility to the topic of SBOM, but demonstrated SBOM Studio  as a unique solution both in its approach and technical capabilities.

Cybeats SBOM Studio was the only tool in the ‘SBOM Challenge’ capable of ingesting the SBOMs from all other participants, and while most participants provided tools or services to generate SBOMs, Cybeats SBOM Studio uniquely added the orchestration and management of SBOMs, vulnerability and threat data, and supply chain intelligence augmentation. The ‘SBOM Challenge’ was led by Idaho National Labs (INL) , part of the US Department of Energy, and saw Cybeats’ SBOM Studio presented to public and private sector entities in S4’s SBOM Pavillion. This year's focus on supply chain security highlighted the value Cybeats’ SBOM Management solutions offer to both SBOM producers and consumers, and both OT/ICS vendors and critical infrastructure asset owners and operators.

“Highly precise and accurate SBOMs data is where the future industry needs are heading, and where Cybeats excels. We were happy to participate and show attendees the valuable time and resources organizations can save with a SBOM management solution that cuts through the noise, helps facilitate vulnerability disposition processes in a scalable way.” said Dmitry Raidman, CTO of Cybeats.

“As equipment manufacturers invest more deeply in Software Bills of Materials (SBOMs), tools that aid in the generation, management, and distribution of data can increase industry’s awareness and response to critical software vulnerabilities. During the S4x23 event, we were fortunate to work alongside several leading companies, including Cybeats, who are building automated tools to improve software risk management and aid in component transparency,” said Virginia Wright, Energy Cybersecurity Portfolio Manager, Idaho National Labs.

“On behalf of Cybeats, we’d like to thank the organizers of the SBOM Challenge, Virginia Wright from Idaho National Labs leadership, Dale Peterson from S4 and our private sector colleagues for participating in this challenge. The results of this and other ongoing efforts among the SBOM community are establishing solid foundations for a more transparent future of the software supply chain,” said An Nguyen, VP Marketing of Cybeats.

During the SBOM Challenge, supply chain security solution providers collaborated with INL to demonstrate their capabilities in supply chain intelligence creation and management. SBOM Studio was recognized as an indicator of the direction the software supply chain market is moving. It's not enough for solutions to simply identify vulnerabilities; product security leaders need a solution that can provide enriched and contextualized insights to prevent spending valuable time on irrelevant data. Cybeats debuted its new SBOM Quality functionality at S4, which is part of SBOM Studio’s unique approach to weed out false positives allowing product and asset management teams to focus on urgent security issues.

In recent years, the creation of SBOMs has become a critical focus in the emerging software supply chain market. Today, open source and commercial tools, as well as professional services, exist to bring this capability to the general market. Cybeats SBOM Studio is designed to leverage SBOMs and related intelligence in security and operations organizations. By showcasing our capabilities in this S4 ‘SBOM Challenge’ open collaboration, critical infrastructure supply chain stakeholders were able to improve their plans to leverage these advantages.

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About SBOM Studio

Cybeats' SBOM Studio enables organizations to efficiently manage, distribute, and view their software bill of materials (SBOMs) in a single interface. By doing so, they can easily identify and address cybersecurity vulnerabilities, reduce the cost of protection, and improve compliance. SBOM Studio is specifically designed to support software producers and consumers who use open source and 3rd party software components and who are transitioning to more transparent software development practices. The tool is compatible with various SBOM generation tools and can validate and correct imported

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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 aind operation. Our 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

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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.