VIQ Solutions Provides Update on Voluntary Administration of Australian Subsidiaries

About this update from Viq Solutions Inc.

Richmond Hill, Ontario--(Newsfile Corp. - June 4, 2026) - VIQ Solutions Inc. (TSXV: VQS) ("VIQ Solutions" or the "Company") today provided an update on its Australian division, consisting of VIQ Australia Pty Ltd, VIQ Solutions Pty Ltd, VIQ Solutions Australia Pty Ltd, VIQ Pty Ltd and VIQ Australia Services Pty Ltd ("VIQ Australia"), which was placed into voluntary administration pursuant to Part 5.3A of the Corporations Act 2001 (Australia) (the "Corporations Act") in March 2026 (the "Voluntary Administration"). At the commencement of the Voluntary Administration, Robert Smith and Keith Crawford of McGrathNicol (the "Administrators") engaged with key stakeholders of VIQ Australia to establish continuity of vital services. Once the business was stabilized, on March 20, 2026, the Administrators commenced a fulsome and robust process to seek the sale or recapitalization of VIQ Australia. The Company has now received notice from the Administrators that the sale or recapitalization process related to VIQ Australia was unsuccessful and that the Administrators will begin taking steps to conduct an orderly wind down of the VIQ Australia business. The Company does not anticipate receiving any proceeds from the administration of VIQ Australia. While the Voluntary Administration process was underway, VIQ launched a significant cost reduction program including, costs associated with supporting VIQ Australia, IT, finance and other administrative and customer support areas. These cost reductions have and will continue to be implemented over the coming months. The Company continues to focus its management and capital resources on the Company's existing operations in North America and the United Kingdom, which remain the Company's highest performing business units. For more information about VIQ Solutions, please visit viqsolutions.com. The Company's head office is located at 35 West Pearce Street, Unit 13, Richmond Hill, Ontario L4B 3A9. About VIQ Solutions VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ Solutions offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed i...

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