Mr. Mike Reeves reports

MATTR RECEIVES PURCHASE ORDER OVER $50 MILLION FOR BRAZILIAN PIPE COATING PROJECT

ShawCor Ltd.'s (doing business as Mattr Infratech) Brazilian pipe-coating facility has received a purchase order for the provision of thermal insulation coating for an offshore project in Brazil. The purchase order is valued over $50-million and will be executed from the company's Serra, Brazil, facility in the first half of 2026.

"While it is unlikely we will own the Brazilian facility while this project is under way, this award demonstrates the facility's strong reputation in the Brazilian market," said Mike Reeves, ShawCor's president and chief executive officer. "The facility will execute on its robust backlog in the coming quarters, while continuing to build on that backlog into 2026."

About ShawCor Ltd.

ShawCor is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including electrification, transportation, communication, water management and energy. Its two business segments, composite technologies and connection technologies, operate a global network of manufacturing and technology centres, delivering differentiated, high-value products which enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

We seek Safe Harbor.