Argo Provides Update on Smart Routing™ Transit Infrastructure

TORONTO, May 19, 2026 (GLOBE NEWSWIRE) — Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) (“Argo” or the “Company“), a leader in next-generation transit solutions, is pleased to share an update and recap on its Smart Routing™ technology, a transit infrastructure solution that connects riders to public transit more conveniently while helping cities extend the reach and efficiency of their transit networks.

First-and-Last-Mile Transit Challenge

Cities around the world are facing growing traffic and congestion pressures, and need to move more people out of cars and into public transit systems. But the first-and-last-mile gap creates challenges for both residents and municipalities.

• For Residents: Time spent walking to the bus stop, waiting outside, and transferring between lines can make public transit less accessible to many residents including seniors, people with mobility needs, and those farther from fixed-route stops. Cars and ridesharing offer convenience but are costly and add to traffic.
• For Municipalities: High-capacity fixed-route transit can be highly efficient along major corridors, but it is not designed to cost-effectively pick residents up at their door.

Smart Routing™ Transit Infrastructure Solution

Argo’s proprietary Smart Routing™ solution is a turnkey transit infrastructure platform combining fully electric buses, charging infrastructure, routing software, and end-to-end operational systems. It is designed to address the first-and-last-mile challenge for both residents and municipalities, with increasing efficiency as ridership grows and Argo’s smart infrastructure scales.

• For Residents: Argo provides on-demand pickups at their door in fully electric, accessible buses for a standard transit fare. Riders can travel point-to-point or connect into high-capacity fixed-route transit lines for longer trips.
• For Municipalities: Argo’s system is designed to grow ridership by extending the reach of existing transit networks into the first and last mile. The solution integrates with existing fare systems and fixed-route transit lines, while its predictive routing technology groups passengers efficiently, supporting higher vehicle utilization and more cost-effective service.

Flexible Deployment Models

Argo has demonstrated two flexible deployment models for its Smart Routing™ transit system: augmenting an existing large-scale municipal transit network in a major city, and delivering a full municipal transit network in a smaller town.

• Augmenting Existing Transit Networks: Argo launched its Smart Routing™ transit system in downtown Brampton, where an established large-scale transit network already exists but the first-and-last-mile gap remains a challenge for many residents. The service picks riders up from their door for point-to-point trips or connections to Brampton Transit and GO Transit lines through an on-demand, fully electric service integrated with Ontario’s PRESTO fare system.

• Delivering a Full Municipal Transit Network: Argo’s Smart Routing™ transit system fully replaced the Town of Bradford West Gwillimbury’s (“BWG”) fixed-route bus system, which had previously been operated by a private contractor. As previously disclosed, the Company reported that average daily transit ridership more than doubled within two months of the April 2025 launch, with a more than 50% reduction in cost-per-ride when compared to BWG’s fixed routes the previous year.

“The future of mobility is moving toward more convenient, on-demand transportation, while cities continue to invest in public transit infrastructure to move more people out of cars,” said Praveen Arichandran, CEO and co-founder of Argo. “We are focused on expanding our Smart Routing™ infrastructure to help cities provide their residents with more convenient transit access to jobs, healthcare, education, and loved ones.”

About Argo

Argo delivers the first-ever vertically and publicly integrated city transit system, designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. You can learn more at www.rideargo.com.

Praveen Arichandran, CEO
Argo Corporation
(800) 575-7051

Forward-Looking Information
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. The forward-looking information set out in this news release relates to future events or future performance and includes, without limitation, statements concerning the Company’s plans for expansion into additional municipalities, potential ridership growth, expected technology performance, service efficiency, and the development of future mobility networks. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including but not limited to: the Company’s ability to secure additional municipal contracts; the Company’s ability to fund operations and expansion; competition from other transit technology providers; regulatory approvals and government funding for municipal transit programs; technology performance meeting expectations; and general economic conditions. Additional risks and uncertainties are described in more detail in the Company’s securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

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.

Media Contact: Christina Ra, Argo Corporation, christina@rideargo.com, (800) 575-7051

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c5fdb94-7e9f-4f5f-9086-75a34d41b390