mCloud Technologies Corp. announced it has signed an agreement with Virtual Vision ("V2") to host the Company's AssetCare solutions on the V2 Public Cloud for use in the Kingdom. The agreement was signed on December 14, 2021 and enables mCloud to complete the onboarding of several new Saudi customers and immediately take these customers live with AssetCare. The agreement with V2 also ensures mCloud is ready for scalable deployment within Saudi Arabia and in a manner compliant with Saudi legal requirements by geo-locating AssetCare data within the Kingdom. The Company previously announced on October 8 it had received a license to conduct business activities from the Ministry of Investment of Saudi Arabia ("MISA"), the first foreign company to offer cloud-based asset management solutions to receive such an approval. mCloud subsequently announced on November 9 it had equipped the first two of over 100 restaurants owned and operated by the AFCO Restaurant Group in the Kingdom. In collaboration with local partners such as V2, mCloud has brought the full suite of AssetCare solutions to Saudi Arabia, including ESG tracking and reporting capabilities via AssetCare Enterprise, HVAC and indoor air quality solutions via Connected Buildings, connected worker solutions through AssetCare Mobile, and the Company's 3D Digital Twin offering, all of which are seeing customer adoption in support of the ESG objectives of Saudi Vision 2030. The Company expects to add numerous buildings and oil and gas assets to its AssetCare portfolio by mid-2022.