Quarterhill and Illinois Tollway Extend Longstanding Agreement with $10.7 Million Tolling Operations Contract

Rhea-AI Summary

Quarterhill (OTCQX: QTRHF) announced a three-year contract extension with the Illinois Tollway valued at approximately $10.7 million, covering Jan 31, 2026 through Jan 30, 2029. The deal continues support for legacy back-office and roadside transactional systems that enable daily toll collection and system reliability.

The work includes operational support and system enhancements to maintain uninterrupted toll collection, integration with multi-partner back-office solutions, and continued collaboration on Toll Revenue Management and Maintenance Program activities.

Positive

• Three-year contract extension valued at $10.7 million (Jan 31, 2026–Jan 30, 2029)
• Continues support for mission-critical back-office and roadside tolling systems ensuring operational continuity
• Reinforces a longstanding client relationship with Illinois Tollway, supporting future modernization efforts

Negative

• Contract has a fixed three-year term and a set value of $10.7 million, limiting near-term upside from this engagement

Three-Year Renewal Builds on Collaboration Supporting Toll Revenue Management and Maintenance Program

TORONTO, Feb. 4, 2026 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading global provider of intelligent transportation system ("ITS") solutions, today announced a three-year contract extension with the Illinois Tollway, reinforcing a longstanding commitment to safe, reliable, and efficient tolling operations in Northern Illinois.

The extension, valued at approximately $10.7 million, runs from January 31, 2026, through January 30, 2029. Under the agreement, Quarterhill will continue working closely with the Illinois Tollway to support and enhance mission-critical legacy back-office and host roadside transactional systems that underpin daily toll collection across the Illinois Tollway system.

Through the collaboration, Quarterhill will provide ongoing operational support and system enhancements to ensure seamless integration with roadside transactional systems and multi-partner back-office solutions. The work supports uninterrupted toll collection, system reliability, and a consistent customer experience while enabling future moderating initiatives.

"The Illinois Tollway has a clear focus on safety, reliability, and customer service," said Chuck Myers, CEO of Quarterhill. "This extension reflects our shared commitment to keeping critical tolling systems running smoothly, while supporting Illinois Tollway's long-term operational and modernization goals. By working side by side, we help ensure resilient infrastructure and a positive experience for drivers across the network."

The contract supports the Illinois Tollway's Toll Revenue Management and Maintenance Program and builds on Quarterhill's long-standing role providing services that support the operation of the agency's tolling environment.

With this extension, Quarterhill continues to demonstrate its long-term service to transportation agencies, reinforcing its collaborative approach to delivering secure, resilient, and scalable solutions that support mission‑critical tolling operations.

For more information, please visit Quarterhill.com.

About Quarterhill
Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill's platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill's platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently. By working in close partnership with governments, communities, and industry leaders, Quarterhill is building today's connected roadways while shaping the next generation of intelligent, resilient mobility. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, please visit: www.quarterhill.com

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Quarterhill Inc.

FAQ

What did Quarterhill (QTRHF) announce about its contract with the Illinois Tollway on Feb 4, 2026?

Quarterhill announced a three-year extension with the Illinois Tollway valued at approximately $10.7 million. According to Quarterhill, the extension runs Jan 31, 2026 through Jan 30, 2029 and continues support for tolling operations and system enhancements.

How will the $10.7 million Illinois Tollway contract affect Quarterhill’s services?

The contract sustains ongoing operational support and system enhancements for tolling systems. According to Quarterhill, the work ensures integration with roadside transactional systems, uninterrupted toll collection, and consistent customer experience across the network.

What period does the Quarterhill QTRHF Illinois Tollway contract cover and when does it start?

The extension covers a three-year period from Jan 31, 2026 to Jan 30, 2029. According to Quarterhill, the term specifies the timeframe for delivering continued support to the Illinois Tollway’s toll revenue management and maintenance program.

Does the Quarterhill (QTRHF) deal with Illinois Tollway include system modernization work?

The agreement includes ongoing system enhancements and support that align with modernization goals. According to Quarterhill, the collaboration supports long-term operational and modernization objectives while maintaining resilient tolling infrastructure.

What is the strategic importance of the Illinois Tollway contract for Quarterhill shareholders?

The extension demonstrates recurring revenue and client continuity with a major toll agency. According to Quarterhill, the deal reinforces the company’s role in delivering secure, resilient, and scalable tolling solutions that support daily revenue collection.