Infrared Cameras, Inc. Ensures the Safety of Logistics and Delivery Staff Amidst Record-Setting Online Holiday Shopping Season

Houston, Texas--(Newsfile Corp. - October 24, 2025) - MultiSensor AI Holdings, Inc. (NASDAQ: MSAI) ("MSAI," "we," "our" or the "Company"), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, today announced that it has executed a securities purchase agreement to raise gross proceeds of approximately $14 million, before deducting placement agent fees and offering expenses, in a private placement of common stock and warrants anchored by 325 Capital, LLC and including other existing and new investors. The initial closing of the offering, representing gross proceeds of approximately $2.8 million, is expected to close on October 27, 2025, subject to satisfaction of customary closing conditions. The balance of the offering is expected to close in December 2025, subject to receipt of requisite stockholder approval.

The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes, including driving strategic growth initiatives and continuing to advance the development of the MSAI Connect platform.

"The reaffirmed commitment from our investors reinforces our strategic vision and validates the progress we continue to make," said Asim Akram, Chief Executive Officer and President. "We remain focused on disciplined execution, operational excellence, and delivering sustainable long-term value for our shareholders."

Roth Capital Partners, LLC is acting as the sole placement agent in the offering.

The securities purchase agreement provides for the private offer and sale of an aggregate of 34,229,829 shares of the Company's common stock and warrants to purchase an aggregate of 68,459,658 shares of common stock or common stock equivalents at an offering price of $0.409 per share and accompanying warrants. The warrants are not exercisable unless and until approved by the Company's stockholders and have a seven-year term and an exercise price of $0.409 per share of common stock or common stock equivalent, subject to adjustment following a reverse stock split.

The common stock, along with the accompanying warrants, are being offered and sold in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder. Accordingly, the common stock, warrants and underlying shares of common stock and common stock equivalents may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock issuable in the private placement as well as the shares of common stock and common stock equivalents issuable upon exercise of the warrants issued in connection with the private placement.

This press release is not an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MultiSensor AI Holdings, Inc.

MultiSensor AI builds and deploys intelligent multi-sensing platforms incorporating edge and cloud software solutions that leverage artificial intelligence. MSAI's integrated solutions utilize data generated from an array of sensors and sensor modalities including high-resolution thermal imagers, visible and acoustic imagers, as well as vibration and laser spectroscopy sensors, to protect customers' most critical assets. MSAI's platform combines condition-based monitoring data with proprietary edge and cloud software to generate actionable insights that, we believe, minimize unplanned downtime, reduce maintenance costs, prevent hazards, and extend asset life.

About 325 Capital, LLC

325 Capital is a long-term, significant, minority owner of high-quality, small, public companies. 325 Capital strives to constructively partner with management teams and boards that are committed to driving long-term, fundamental value. As lead shareholders, 325 Capital supports its portfolio by working from deeply researched facts, acting as discrete advisors or constructive board members, providing access to a network of relationships, and providing direct growth capital. The team at 325 Capital has worked together for more than 20 years developing this approach, strategy, and process and values facts, transparency, alignment, and partnership.

MSAI Contact:

E-mail: ir@multisensorai.com

Website: www.multisensorai.com

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "will," "would" or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our ability to close the offering, the intended use of proceeds of the offering, management's expectations regarding its strategic priorities and objectives, product development, future plans and business prospects. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including those identified in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in the Company's other filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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Growth in Predictive Monitoring Deployments Reflects Continued Adoption & Demand for MSAI solutions.

‍Houston, Texas--(Newsfile Corp. - October 14, 2025) - MultiSensor AI Holdings, Inc. (NASDAQ: MSAI) ("MultiSensor AI," "MSAI" or the "Company"), a pioneer in multi-sensor condition monitoring and predictive maintenance solutions, today announced successful implementations of MSAI solutions in the United States with a global distribution leader, marking the first wave of North American deployments following multiple successful programs across Europe and the United Kingdom.

The customer—a global leader in logistics and e-commerce—has begun deploying MultiSensor AI's solutions across key U.S. distribution and fulfillment centers. These solutions are integrated with the MSAI Connect platform to deliver real-time visibility, early fault detection, and predictive maintenance insights across high-throughput operations.

"Our focus is on driving measurable impact and return on investment for our customers," said Asim Akram, Chief Executive Officer and President of MultiSensor AI. "This expansion reflects deep trust built over years of collaboration. We share a relentless commitment to maximizing uptime, safety, and efficiency-and we do whatever it takes to keep our customers' operations running stronger."

North American Rollout and Operational Impact

• North American Rollout: Initial deployments launched in key sites in the southern U.S. with additional U.S. sites scheduled.
• Operational Value: Insights help enable earlier interventions, reduced downtime, and increased throughput.
• Expanded Use Cases: Pilots initiated for rooftop solar monitoring, critical power, and additional logistics applications.
• Efficiency Gains: Continuous monitoring supports extending the reach of maintenance teams amid labor constraints.

Demonstrated Results from Recent Deployments

The Company believes its outcomes underscore the scalability of MultiSensor AI's platform across high-volume logistics, where even minutes of downtime can disrupt fulfillment capacity. Examples of such outcomes include:

• detected bearing and belt failures hours before equipment shutdown, preventing costly operational stoppages;
• prevented multiple-hour unplanned downtime events, safeguarding thousands of package transfers per hour;
• enabled trend analysis and visual playback that accelerated root-cause diagnosis by maintenance teams;
• provided real-time alerts via webhooks and messaging tools, allowing for immediate response on shift; and
• reduced overall maintenance costs and downtime hours, while increasing throughput and asset life.

About MultiSensor AI

MultiSensor AI builds and deploys intelligent multi-sensing platforms incorporating edge and cloud software solutions that leverage artificial intelligence. MSAI's integrated solutions utilize data generated from an array of sensors and sensor modalities including high-resolution thermal imagers, visible and acoustic imagers, as well as vibration and laser spectroscopy sensors, to protect customers' most critical assets. MSAI's platform combines condition-based monitoring data with proprietary edge and cloud software to generate actionable insights that, we believe, minimize unplanned downtime, reduce maintenance costs, prevent hazards, and extend asset life.

MSAI Contact:
E-mail: ir@multisensorai.com
Website: www.multisensorai.com

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "will," "would" or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our planned expansion across the United States, management's expectations regarding its strategic priorities and objectives, future plans and business prospects. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including those identified in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in the Company's other filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

AI-Powered Condition-Based Monitoring Platform Helps Reliability and Operations Leaders
Automate and Optimize Predictive Maintenance and Maximize Operational Uptime

December 1, 2023 – Infrared Cameras, Incorporated (ICI) announced today that their asset reliability and operational efficiency optimization platform, SmartIR, is now available in AWS Marketplace., that runs on Amazon Web Services (AWS). AWS Marketplace is a digital catalog that makes it easy for customers to find, test, buy and deploy software listings from independent vendors. AWS Marketplace will help ICI customers simplify their SmartIR procurement process through consolidated billing, custom pricing and terms, and various other benefits.

ICI’s SmartIR platform enables the automation of asset reliability and operational efficiency initiatives through AI-powered continuous monitoring capabilities. Leveraging data inputs from thermal and acoustic imaging, and from vibration sensing, SmartIR continuously monitors the performance and condition of critical mechanical and electrical assets, and manufactured outputs, across a variety of industrial, environmental, and commercial settings.

The SmartIR platform informs predictive maintenance and reliability for a customer’s most critical assets, monitors manufactured outputs for quality issues, and provides early-stage fire detection and safety alerts throughout the facility.

“We at ICI are extremely excited about the continued development of our relationship with AWS,” said Gary Strahan, CEO of ICI. “Our company’s goal is to elevate our customers’ predictive maintenance and reliability strategies, quality assurance processes, and employee health and safety protocols. Having our SmartIR Platform in AWS Marketplace allows ICI to reach more of AWS’s customers and offer a frictionless experience for procuring and deploying our condition-based monitoring capabilities.”

For more information, please visit www.infraredcameras.com/smartir-platform.

About Infrared Cameras

ICI’s SmartIR is an AWS-powered software platform that leverages ICI-built thermal imaging, acoustic imaging, and vibration sensing devices for condition-based monitoring of critical mechanical and electrical assets and manufactured outputs. ICI’s solutions are deployed by organizations to protect critical assets across a wide range of industries including distribution & logistics, manufacturing, utilities, and oil & gas. ICI’s sensing solutions are built around high-resolution thermal imaging along with visible, acoustic, vibration and laser spectroscopy imagers and sensors. This full-stack solution measures heat, sound, and gas in the surrounding environment, helping companies gain insight to efficiently manage their most important assets and infrastructure. ICI designs and manufactures digital thermal sensing solution platforms with edge and cloud-based software.

For more information, please visit https://infraredcameras.com/.

About Infrared Cameras’ Proposed Business Combination With SportsMap Tech Acquisition Corp

On December 5, 2022, Infrared Cameras Holdings, Inc., ICI’s parent company, entered into a business combination agreement with SportsMap Tech Acquisition Corp. (NASDAQ: SMAP) relating to a proposed business combination between the parties that would result in Infrared Cameras Holdings becoming a public company. SMAP has filed a definitive proxy statement relating to the proposed business combination and the special meeting of its stockholders, scheduled for December 8, 2023, to vote to approve the proposed business combination and related matters. The parties have applied to have the combined company’s common stock listed on NASDAQ under the ticker symbol “MSAI”.

SMAP and ICI urge all interested persons to read the definitive proxy statement, which contains important information about SMAP, ICI and the proposed transaction. The definitive proxy statement can be obtained without charge at www.sec.gov.

Forward-Looking Statements

This press release contains forward-looking statements, which are not historical facts, including statements concerning the benefit of ICI’s SmartIR platform to customers and potential customers and SMAP’s or ICI’s beliefs about the proposed business combination transaction and ability of the combined company to qualify to list on NASDAQ. These statements may be preceded by, followed by or include the words “believes,” “predicts,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “would,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends,” “future,” “potential,” “opportunity,” or other similar expressions, the negatives of these terms or variations of them, although not all forward-looking statements will include such identifying words. Forward-looking statements are predictions, projections and other statements about the future events that are based on SMAP’s or ICI’s current expectations and assumptions and, as a result, are inherently subject to risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in SMAP’s definitive proxy statement relating to the proposed business combination transaction and other filings SMAP or the combined company may make with the Securities and Exchange Commission. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. Neither SMAP nor ICI is under any obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact:

Multi-Sensor AI

Andrew Klobucar

Director of Marketing

Andrew.klobucar@infraredcameras.com

Investor Contact:

Alpha IR Group

Mike Cummings or Griffin Morris

MSAI@alpha-ir.com