Mr. Massimo Dattilo reports

PYROGENESIS SIGNS BREAKTHROUGH CONTRACT FOR FIRST COMMERCIAL BY-THE-TONNE ORDER FOR TITANIUM METAL POWDER FOR 3D PRINTING

PyroGenesis Canada Inc. has received a signed order for five metric tonnes, or 5,000 kilograms, of its plasma-atomized titanium metal powders for 3-D printing. In addition, a down payment has been received.

"This order for 5,000 kilograms is the first by-the-tonne commercial order received by the company for its atomized powder titanium metal powders produced using the company's NexGen plasma atomization system," said Massimo Dattilo, vice-president, PyroGenesis Additive. "This represents our full entrance into the titanium metal powders marketplace."

The client (whose name is being withheld at its request) is an advanced materials company in the United States. For clarity, this client is unrelated to the global aerospace OEM (original equipment manufacturing) client for which the company continues the qualification process to become an approved supplier.

Additionally, this new client has placed a provisional order for a further six tonnes (or 6,000 kilograms), contingent upon the client determining, at its discretion, the appropriate demand for additional powders.

"With a goal to produce the highest-quality metal powders in the additive manufacturing industry, PyroGenesis Additive has taken a cautious, methodical approach towards commercialization of its powders as we designed, then readied, our new NexGen plasma atomization process," continued Mr. Dattilo. "As mentioned in our previous releases, we started with sample batches for key customers measured in dozens of grams, then progressed to small commercial orders of 100 kilograms each, with the stated goal to then move up to commercial production and sales by the tonne. This has now been achieved with this multitonne order."

This order will be completed at PyroGenesis's state-of-the-art production facility in Montreal, Que., Canada. The majority of the initial five tonnes of titanium metal powder order will be shipped during the second quarter of 2023, with the balance of the order set for completion before the end of the third quarter of 2023.

The company's development of high-quality titanium metal powders is part of the company's three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Metal powders are part of the company's commodity security and optimization tier, where the recovery of viable metals and the optimization of production to increase output help to maximize raw materials and improve the availability of critical minerals. Titanium has been identified as a critical mineral by the Canadian government.

About PyroGenesis Canada Inc.

PyroGenesis Canada, a high-technology company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions that reduce greenhouse gases (GHGs) and are economically attractive alternatives to conventional dirty processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion-dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office and its 3,800-square-metre and 2,940-square-metre manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997.

We seek Safe Harbor.