Mr. Thomas Mika reports

POET ANNOUNCES ADDITIONAL PRIVATE PLACEMENT FINANCING FOR $10 MILLION

Poet Technologies Inc. has added an additional $10-million private placement to the listed issuer financing exemption offering that it announced earlier in the day.

Poet Technologies is undertaking a non-brokered private placement of 3,448,275 units of the company at a price of $2.90 per unit, representing a discount of 15 per cent from the closing price of the company's common shares on the TSX Venture Exchange on Friday, April 26, 2024, for gross proceeds of $10-million. The units to be issued under the PP offering are to be placed with two Canadian-based institutional investors.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 60 months following the closing date of the PP offering at an exercise price of $4.26 per warrant share. The common shares forming a part of the units, the warrants and the warrant shares are each subject to a four-month holding period. No brokers or finders were engaged in this transaction, and no fees are to be paid in connection with the issuance of the units.

Poet Technologies is currently experiencing strong demand for its proprietary optical engine technology that powers 800G and higher speed optical modules for artificial intelligence processing clusters and light sources for advanced chip-to-chip light-based data communications and high-speed computing. Use of proceeds of this financing is for general working capital purposes aimed at supporting this significant growth phase for the company.

The units are being issued pursuant to exemptions from the prospectus requirements pursuant to Canadian securities law to investors resident in Canada.

The PP offering is scheduled to close on or about May 10, 2024, and completion of the PP offering is subject to certain conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The closing of the PP offering is not conditional upon the closing of the LIFE offering announced earlier today.

About Poet Technologies Inc.

Poet Technologies is a design and development company offering integration solutions based on the Poet optical interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multichip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. Poet Technologies' optical interposer eliminates costly components and labour-intensive assembly, alignment, burn-in and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the Poet optical interposer brings value to any device or system that integrates electronics and photonics, including some of the highest-growth areas of computing, such as artificial intelligence, the Internet of Things, autonomous vehicles, and high-speed networking for cloud service providers and data centres. Poet Technologies is headquartered in Toronto, with operations in Allentown, Pa., Shenzhen, China, and Singapore.

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