KWESST Micro Systems Inc. announced that it intends to delay the filing of its annual financial statements in respect of its year ended September 30, 2023, its management discussion and analysis relating to its annual financial statements, its Form 20-F and the CEO and CFO certifications, beyond the prescribed deadline of December 29, 2023. The Company is experiencing minor delays in completing the year-end audit and Required Documents. The Company's auditors, KPMG LLP, have advised KWESST that they require additional time to complete their remaining audit and quality procedures,and file documentation.

Company's management, together with its audit committee, has been cooperating and will continue to cooperate with its auditors to provide all necessary information and complete the Required Documents as soon as possible. The Company expects that the Required Documents will be filed the week of January 8, 2024 which is well before the deadline of January 31, 2024 with the Securities and Exchange Commission for filing its Form 20-F.