Mr. Joseph Fearn reports

FAB-FORM ANNOUNCES THE APPOINTMENT OF A NEW CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

Fab-Form Industries Ltd. has made key appointments to its leadership team, effective Dec. 1, 2023. Joseph Christian Fearn has been appointed as the chief executive officer (CEO), and Vishwanath Kumar as the vice-president and chief financial officer (CFO).

Joseph Fearn brings with him over 18 years of construction industry experience, and a successful record in sales, marketing, production and sourcing. Joseph Fearn played a crucial role in the development of the Zont bracing system, ZAT bracket and Monopour system, showcasing his involvement in the company's innovative products. The board of directors expresses confidence in his ability to provide strategic vision and guidance for Fab-Form's future.

Commenting on the appointment, Fab-Form board member Donald Russell states: "We are excited to welcome Joseph to the new position. He possesses a unique combination of skills, experience and forward thinking that aligns with Fab-Forms goals. We believe he will play a pivotal role in shaping the future success of Fab-Form."

In addition, Mr. Kumar assumes the role of vice-president and chief financial officer (CFO). Mr. Kumar joined the company in July, 2020, with over 15 years of financial, accounting and audit experience across diverse industries. He previously served as the financial controller of the company. His background includes a senior manager position at PricewaterhouseCoopers in Botswana, where he served more than seven years. He holds a master of administration from the University of Southern Queensland and is a fellow member of the Institute of Chartered Accountants of Sri Lanka. The board acknowledges Mr. Kumar's expertise, and welcomes him to lead Fab-Form's finance and accounting department, reporting directly to Joseph Fearn.

"I am very pleased to welcome Vish to the Fab-Form executive management team," said Joseph Fearn, president and chief executive officer of Fab-Form. "Vish has tremendous experience, proven judgment and will continue to be a valuable contributor in guiding our company forward as the CFO."

The board also extends gratitude to Richard Neil Fearn (79) for his dedication during his tenure as chief executive officer since the company's inception in 1986. Richard Fearn will continue as an executive director, providing leadership to the research and development team.

The board also extends gratitude to Mr. Russell (78) for his contribution during his tenure as chief financial officer. Mr. Russell will continue to serve as an independent non-executive director, and the chairman of the audit and remuneration committees.

About Fab-Form Industries Ltd.

Fab-Form Industries is a leading concrete forming products manufacturer located in Vancouver, B.C., Canada. Since its inception in 1986, the company has invented, developed and commercialized foundation products that are more sustainable and efficient for the building industry.

The company has traded on the TSX Venture Exchange (TSX-V) under the symbol FBF since 1999.