Mr. Hadi Abassi reports

ATLAS ENGINEERED PRODUCTS ANNOUNCES GRANT AND ROBOTIC FACILITY UPDATE

Atlas Engineered Products Ltd. has signed a fully executed non-repayable contribution agreement for up to $4-million of funding toward its robotics truss manufacturing facility being built in Clinton, Ont.

The up to $4-million in funding is from the investments in forest industry transformation program through the Department of Natural Resources. This funding will help support the building construction and procurement of the robotics and an integrated saw. This project is anticipated to increase manufacturing capacity, minimize lumber waste, enhance precision and improve overall operational efficiency in the manufacturing of roof trusses for the wood building construction sector. Once completed, this facility will be the first of its kind in Canada, adopting technology proved successful in Europe, Australia and the United States previously.

"AEP is extremely grateful and appreciative for the support received from the IFIT program as we advance Canada's first robotic truss manufacturing facility," said Hadi Abassi, chief executive officer and president of Atlas Engineered. "Canada continues to face significant housing shortages and affordability challenges. The efficiencies and increased capacity this facility brings will help support the industry as more homes are needing to be built across the country."

The construction of the Clinton facility is approaching completion, with preparations under way for the arrival of equipment. The robotic system and integrated saw system have partially shipped with the rest anticipated to ship this month, and installation is expected to be finalized by the end of Atlas Engineered's second fiscal quarter.

"It has been an extensive process planning and implementing the robotics facility in Clinton, and we are pleased that the completion of this initial site is now only months away. This achievement represents the result of considerable effort and patience, and to witness the production of the first roof truss at this facility will be a rewarding milestone," stated Hadi Abassi, chief executive officer and president of Atlas Engineered.

"In communities across the country, the forest sector serves as an economic backbone -- which means the health of the sector and the strength of Canada are inseparable. This is why our new government is investing in industrial-scale innovation that helps mills stay in operation, support and create jobs, and diversify into advanced, value-added products. By ensuring Canadian forest products remain competitive, we're building a stronger, more self-reliant forestry sector for the next generation of Canadians," said Tim Hodgson, Minister of Energy and Natural Resources.

"Canada's forest sector has always been built on innovation and hard work, and, today, we are investing in the next chapter. By combining Canadian resources with cutting-edge technology, projects like this are creating good jobs, strengthening our supply chains and helping us build more homes and diversify our exports. This is how we make sure Canada's forest industry remains strong, competitive and proudly Canadian for generations to come," stated Corey Hogan, parliamentary secretary to the Minister of Energy and Natural Resources.

About Atlas Engineered Products Ltd.

Atlas Engineered is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered product industry. It has a well-defined and disciplined acquisition and operating growth strategy, enabling it to scale aggressively and apply new automated technologies, giving it a unique opportunity to consolidate a fragmented industry of independent operators.

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