Argo renews Smart Routing transit agreement with BWG

Mr. Praveen Arichandran reports ARGO RENEWS AGREEMENT WITH THE TOWN OF BRADFORD WEST GWILLIMBURY The Town of Bradford West Gwillimbury (BWG) successfully renewed its Smart Routing transit agreement with Argo Corp., including an expansion in vehicle capacity. The renewal extends and expands the service, which successfully replaced the town's previous privately operated fixed-route bus system. Highlights of the deployment include: Ridership growth: Two times transit ridership: Average daily transit ridership more than doubled within two months of the April, 2025, launch of the Smart Routing transit system when compared to BWG's fixed routes the previous year, as announced on June 23, 2025. 5.5 times Go station transfers: In September, 2025, transfers to and from the Bradford Go station were 5.5 times higher versus the 12-month baseline preceding Argo's April launch, as announced on Oct. 29, 2025. According to Metrolinx, 71 per cent of Go customers access their origin station by car. Recent Go parking structure project values indicate that the province's cost per parking space can exceed $50,000. Coverage: Eighty-nine per cent of trips facilitated by Argo since launch include a pickup or drop-off that is over 100 metres from previous fixed bus stops. Paired with the entire Argo X1 electric bus fleet being wheelchair accessible, this represents a meaningful increase in coverage and access to BWG residents for whom public transit may not have otherwise been an option. Wait times and booking acceptance: Despite ridership rapidly growing to more than double the originally procured system design, Argo's demand-responsive Smart Routing technology was able to absorb this overwhelming excess demand while maintaining a 100-per-cent booking acceptance rate and median wait times under 20 minutes. The expansion of additional vehicle capacity is expected to further enhance service levels, reducing wait times, which have sometimes been elevated during peak hours due to this excess demand. Rider satisfaction: Over 90 per cent of more than 3,000 in-app trip ratings by passengers in BWG are four or five stars. Smart Routing efficiency: Operating cost efficiency: The town had no change to its transit operating budget to deploy the program, indicating an overall reduction in cost per ride of over 50 per cent compared with its previous fixed-route service. Capital asset efficiency: The same number of vehicles were initially deployed compared with BWG's previous fixed-route service, indicating significantly higher capital asset efficiency. When average daily ridership was first doubled, each vehicle was facilitating an annualized run rate in excess of 30,000 trips per vehicle, doubling the vehicle utilization of the fixed-route service. The town has since expanded its vehicle capacity with Argo. Deployment speed: The original agreement with the town was signed in late December, 2024, and the full deployment, including technology, operations, vehicles and charging infrastructure, was complete for public launch by early April, 2025. This demonstrates the company's ability to rapidly deploy infrastructure and service as it continues its focus on municipal expansion. "This renewal and expansion in Bradford West Gwillimbury is powerful validation of our vision for a future where public transit is the most convenient way to travel within and across our cities," said Praveen Arichandran, chief executive officer and co-founder of Argo. "The significant increase in capital and operating efficiency shows that our patent-pending solution can save taxpayers money while enabling a transformational impact in our communities." The extended and expanded agreement was signed on March 4, 2026, and runs through to the end of 2026, aligning with the remainder of the town's budget year. Municipal pipeline Following the successful launch and expansion in BWG, and the continued growth of the service in a dense downtown environment under its 12-month, $10.9-million agreement with the City of Brampton, the company is focused on expanding its solution to more municipalities. While the company is engaged with several municipalities in various stages, which could represent meaningful revenue growth, there can be no assurance that any of these discussions will result in definitive agreements. About Argo Corp. Argo delivers the first-ever vertically and publicly integrated city transit system, designed to augment public transit systems 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. We seek Safe Harbor.