Mr. Thomas Mika reports

POET EXPANDS CAPACITY TO MEET AI INFRASTRUCTURE DEMAND

Poet Technologies Inc. intends to expand its optical engine production capacity in Malaysia. The company also announced that it has signed a binding memorandum of understanding (MOU) with Quanzhou Sanan Optical Communication Technology Co. Ltd. (SAIC) to transfer to Poet its 24.8-per-cent stake in the joint venture Super Photonics Xiamen (SPX), along with all the production equipment previously leased by SAIC to SPX. With control of SPX, Poet now has the flexibility to implement its China Plus One strategy to locate its wafer-scale assembly operations outside of China.

Concurrently, the company has been negotiating with several contract manufacturers in Malaysia to become the focal point for Poet's wafer-scale assembly of optical engines and expects to sign an agreement this month and to start operations by the end of the year.

"The addition of wafer-scale equipment to our assembly and test operations will significantly expand our production capacity to cover the projected needs of our customers for 800G optical engines being sold to AI [artificial intelligence] networks through 2026," commented Dr. Suresh Venkatesan, chairman and chief executive officer of Poet. "We can now project an assembly and test capacity exceeding one million optical engines per year, all dedicated to the 800G and higher-speed transceivers required for AI clusters."

The 24.8-per-cent equity stake represents SAIC's entire ownership position in the JV. With no other shareholders, SPX will become a wholly owned subsidiary of Poet and will continue to assemble optical engines for sale in China, adopting the Poet company name. The MOU is binding and is also subject to definitive agreements, which are expected to be signed by the end of November.

Expansion of investor relations activities

The company entered into an agreement with 1123963 B.C. Ltd. (doing business as Capitaliz On It) to conduct market awareness and marketing services, commencing on Nov. 15, 2024, and terminating on Feb. 15, 2025. The nature of the services to be provided by Capitaliz include, but are not limited to, advice, content development, media buying and distribution, and marketing services through social media channels. The company will pay Capitaliz a total of $90,000 (U.S.) for its services, split over the term of the contract in accordance with the services rendered. At the time of this release, Capitaliz does not own any shares of the company.

About Poet Technologies Inc.

Poet is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centres. Poet's photonic integration solutions are based on the Poet optical interposer, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. Poet's optical-interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centres, Poet has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. Poet's optical interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained edge computing applications and sensing applications such as lidar systems for autonomous vehicles. Poet is headquartered in Toronto, Canada, with operations in Allentown, Penn., Shenzhen, China, and Singapore.

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