Nubeva Technologies Ltd. — Capital/Financing Update 2022

Aug 31, 2022

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NEWS RELEASE For More Information: Steve Perkins sperkins@nubeva.com (714) 261-9948

Nubeva Announces Grant of Stock Options

SAN JOSE, Calif., August 31, 2022 – Nubeva Technologies (TSX-V: NBVA) (OTCQB: NBVAF) (“Nubeva” or the “Company”), a pioneer of next-generation solutions for ransomware, announces that the Company granted 100,000 incentive stock options (the “ Options ”) to an officer and consultant of the Company with each Option being exercisable into one common share in the capital of the Company. The Options have an exercise price of C$0.75 and expire on August 30, 2027.

The issuance of the Options is subject to disinterested shareholder approval as it exceeds the 10% maximum of the issued and outstanding common shares that may be issued to Insiders (as such term is defined in the policies of the TSX Venture Exchange (the “ Exchange ”)), pursuant to the policies of the Exchange and the terms of its 2022 amended and restated 20% fixed share option plan (the “ 2022 Plan ”). None of the Options may be exercised until disinterested shareholder approval is obtained. The 2022 Plan is also subject to Exchange and shareholder approval. The Company will seek approval of shareholders for the 2022 Plan and the approval of disinterested shareholders of the issuance of the Options at its 2022 annual general and special meeting of shareholders.

About Nubeva Technologies Ltd.

Nubeva develops and licenses B2B software for next-generation cybersecurity solutions with a focus on ransomware. The company’s patented and awarding-winning SKI technology enables advanced decryptions solutions, including ransomware reversal - the ability to decrypt and quickly recover from ransomware attacks without paying the ransom, and TLS Visibility - the ability to universally decrypt TLS/SSL network traffic, enabling deep packet inspection for cybersecurity and application assurance applications. The company licenses its software to end-user enterprises, managed security service providers, incident responders, and cybersecurity and application solution manufacturers.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this

press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

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.

For additional information, please contact: Nubeva Technologies Ltd. investorrelations@nubeva.com 1-(844) 538-4638