Intermap Technologies Corporation — Capital/Financing Update 2020

Nov 13, 2020

MATERIAL CHANGE REPORT

FORM 51-102F3

Item 1 Name and Address of Company Intermap Technologies Corporation (“Intermap” or the “Company”) 8310 South Valley Highway, Suite 400 Englewood, Colorado USA 80112 Item 2 Date of Material Change November 3, 2020 and November 12, 2020

Item 3 News Release

Press releases were disseminated on November 4, 2020 and November 12, 2020 through the news wire service Cision. Copies of the press releases were filed on SEDAR under the Company’s issuer profile.

Item 4 Summary of Material Change

On November 12, 2020, the Company closed the third and final tranche of its private placement (the “Private Placement”) of an aggregate of 3,646,874 Class A common shares (the “Shares”) at a price of CAD$1.03 per Share.

The first tranche, which closed on November 3, 2020, included the issuance of 1,648,874 Shares. The second tranche, which closed on November 6, 2020, included the issuance of 728,000 Shares. The third tranche, which closed on November 12, 2020, included the issuance of 1,270,000 Shares. The aggregate gross proceeds from all three tranches was CAD$3,756,280.

Item 5 Full Description of Material Change

On November 3, 2020, the Company closed the first tranche of the Private Placement with the issuance of 1,648,874 Shares at a price of CAD$1.03 per share for aggregate gross proceeds of CAD$1,698,340. A press release was disseminated on November 4, 2020 announcing the closing of this tranche.

On November 6, 2020, the Company closed the second tranche of the Private Placement with the issuance of 728,000 Shares at a price of CAD$1.03 per share for aggregate gross proceeds of CAD$749,840.

On November 12, 2020, the Company closed the third and final tranche of the Private Placement with the issuance of 1,270,000 Shares at a price of CAD$1.03 per share for aggregate gross proceeds of CAD$1,308,100.

In total, the Company issued a total of 3,646,874 Shares under the Private Placement for aggregate gross proceeds of CAD$3,756,280. The Company intends to use the net proceeds of the Private Placement for general corporate purposes and to fund its growth.

All Shares issued in connection with the Private Placement are subject to a 4-month hold period during which trading in the securities is restricted in accordance with applicable securities laws.

Item 6 Reliance on Section 7.1(2) of National Instrument 51-102

Not applicable

Item 7 Omitted Information

Not applicable

Item 8 Executive Officer Patrick Blott Chief Executive Officer Tel: (303) 708-0955

Item 9 Date of Report

November 12, 2020

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