Evertz Technologies Limited - Early Warning Report

Burlington, Ontario--(Newsfile Corp. - March 3, 2023) - Evertz Technologies Limited (TSX: ET) ("Evertz") announces that on March 3, 2023 it sold 6,000 Common shares in the capital of Haivision Systems Inc. (TSX: HAI) ("Haivision") on March 3, 2023 at a weighted average price of $3.74 per share for an aggregate sale price of $22,448.

Immediately prior to the disposition, Evertz held 2,886,100 common shares of Haivision ("Common Shares"). Following the sale of Common Shares, Evertz now has beneficial ownership of and/or control or direction over 2,880,100 Common Shares, representing 9.99% of the issued and outstanding Common Shares.

Because Evertz beneficially owns and/or has control or direction over less than 10% of the issued and outstanding Common Shares, it is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Common Shares.

The Common Shares are held for investment purposes. Evertz intends to review its investment in Haivision on a continuing basis. Depending on various factors including, without limitation, Haivision's financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, and other factors and conditions as Evertz may deem appropriate, Evertz may in the future take such actions with respect to its investment in Haivision as it deems appropriate including, without limitation, purchasing or selling additional securities, whether in the open market, by privately negotiated agreement, or otherwise, engaging in short selling of or any hedging or similar transaction with respect to the securities, and taking any other action with respect to Haivision or any of its securities in any manner permitted by law including, without limitation, the requisition of meetings of Haivision's securityholders and the solicitation of proxies from Haivision's securityholders in any manner permitted by law.

This press release is issued pursuant to National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

About Evertz

Evertz Technologies Limited (TSX: ET) designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The Company's solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital, and high and ultra-high definition television ("HDTV" and "UHD") and next generation high bandwidth low latency IP network environments and by telecommunications and new-media companies. The Company's products allow its customers to generate additional revenue while reducing costs through efficient signal routing, distribution, monitoring and management of content as well as the automation and orchestration of more streamlined and agile workflow processes on premise and in the "Cloud".

For further information, please contact:

Doug Moore
Chief Financial Officer

(905) 335-7580
ir@evertz.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157256