Mr. Richard Fearn reports

FAB-FORM ANNOUNCES RESULTS FOR THE TRANSITIONAL SIX MONTHS PERIOD ENDED 30 JUNE 2023

Fab-Form Industries Ltd. has released its results for the six-month period ended June 30, 2023. The company recorded a net profit of $482,594 during this period, reflecting a 26-per-cent decrease compared with the corresponding period in 2022. Additionally, the revenue for the six months ended June 30, 2023, was $2,591,065, which represents a 13.98-per-cent decrease compared with the first six months of 2022. The operating income during this period was $666,948, showing a 25-per-cent decline compared with the same period in 2022.

For further details and comprehensive information related to the financial statements, you can access the company's website or visit SEDAR+. Alternatively, you can request additional information directly from Fab-Form's head office in Delta.

Update on Fast-Tube

The production of Fast-Tube has commenced according to schedule in October, 2023. The company is continuing to use its existing welding technology for production, with no significant alterations to the current machinery. Furthermore, there is continuing development of polymer-based technology, with manufacturing using an auger requiring five months of testing. The auger has been completed by the supplier in Thailand and is expected to be delivered to the Delta warehouse in early November for assembly. Once the assembly is finalized, the testing of the polymer solution will begin.

About Fab-Form Industries Ltd.

Fab-Form Industries, located in Vancouver, B.C., Canada, is recognized as a prominent manufacturer of concrete forming products. The company was founded in 1986, and has been dedicated to creating and commercializing sustainable and efficient foundation products for the building industry. Fab-Form has been listed on the TSX Venture Exchange (TSX-V) under the symbol FBF since 1999.

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