Mr. P. Peter Pascali reports

PYROGENESIS CONFIRMS HALF-TONNE ORDER FOR IMMEDIATE DELIVERY OF TITANIUM METAL POWDER

PyroGenesis Inc. has recently signed a half-tonne contract with a global aerospace leader for the supply of titanium metal powder produced by PyroGenesis's NexGen plasma atomization process. This contract was achieved as part of a competitive bid process and represents the first order received since official supplier status was granted to PyroGenesis by the client after a multiyear certification process.

The contract is for the supply of coarse-cut Ti64 powder (particle size: 45 to 150 microns). The powder produced by PyroGenesis's NexGen plasma atomization system will be shipped to the customer in the coming days. The powder is to be used as part of the customer's aerospace research and development program. The contract value will remain confidential for competitive reasons.

Project highlights

Scope:  half-tonne supply of PyroGenesis's coarse-cut titanium metal powder, produced by its NexGen plasma atomization process, to global aerospace leader

Timeline:  The metal powder will be shipped to the customer in the coming days.

Strategic impact:  Producing a superior-quality titanium metal powder using PyroGenesis's high-efficiency NexGen plasma atomization process helps protect the critical mineral supply chain for an aerospace industry leader.

"This order is a great start to our supplier relationship with this global aerospace leader, especially as it came under a competitive bid process between approved suppliers," said P. Peter Pascali, president and chief executive officer of PyroGenesis. "I believe this contract demonstrates how the continued innovation in our patented NexGen plasma atomization system offers enhanced efficiency for metal powder production and reduces customer costs, reinforcing our competitive advantage and supporting the company's long-term value creation strategy."

Industry and market context:

• The global 3-D printing market for titanium powder is expected to increase from $214-million in 2023 to $1.4-billion by 2032.
• Titanium is classified as a critical mineral by both Canada and the United States.
• Titanium is used by multiple industries, including space, aerospace, defence, consumer electronics, medical, hydrogen and electric vehicles, due to its high strength-to-weight ratio and corrosion resistance.
• PyroGenesis is the inventor of the plasma atomization process and in fact coined the term plasma atomization in its original patent. The company's NexGen system is a patented upgrade to what is considered the gold-standard process for the development of metal powder for additive manufacturing, also referred to as metal 3-D printing.

About PyroGenesis Inc.

PyroGenesis leverages 34 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions and materials development challenges across heavy industry and defence. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis's engineers, scientists and technicians drive innovation and commercialization of energy transition and ultrahigh-temperature technology. PyroGenesis's operations are ISO 9001:2015 and AS9100D certified, with ISO (International Organization for Standardization) certification maintained since 1997. PyroGenesis's shares trade on the Toronto Stock Exchange (symbol: PYR), the OTCQX exchange (symbol: PYRGF) and the Frankfurt Stock Exchange (symbol: 8PY1).

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