Mr. P. Peter Pascali reports

PYROGENESIS DELIVERS 3.5 TONNES OF TITANIUM POWDER UNDER NEW POWDER SUPPLY AGREEMENT WITH U.S. MINERALS AND METAL TECHNOLOGY COMPANY

PyroGenesis Inc. has delivered 3.5 tonnes of titanium powder under a new powder supply agreement with a U.S. mineral and metal technology company. This powder was produced by PyroGenesis's NexGen plasma atomization process. The customer previously received and tested PyroGenesis's samples prior to signing this agreement.

Project highlights:

• Purpose: provide a reliable, high-quality feedstock for the development of titanium alloys, a critical mineral needed by key industries, including space, aerospace, medical, defence, consumer electronics, hydrogen and electric vehicles;
• Scope: supply agreement to deliver high-quality offcuts of PyroGenesis's titanium metal powder produced by its NexGen plasma atomization process, with recurring orders as needed;
• Timeline: the first 3.5-tonne shipment of powder was recently delivered to the client;
• Strategic impact: supports the protection of the critical mineral supply chain while utilizing a novel, closed-loop, sustainable manufacturing process.

Following recent contract announcements for both coarse and fine cut metal powders, the order announced today is for offcut titanium (Ti64) powder. Offcuts are powders produced during PyroGenesis's plasma atomization process, but are not currently being used by the existing range of commercial metal 3-D printers used in industrial additive manufacturing. PyroGenesis will supply the client on a recurring as-needed basis, with an initial shipment of 3.5 tonnes. The financial terms of the contract will remain confidential for competitive reasons. The powder for this order was recently delivered to the customer. The expectation for this contract was outlined in the outlook section of PyroGenesis's third quarter 2025 earnings report (press release dated Nov. 11, 2025) as a potential near-term business line development.

The client uses its patented technologies to produce high performance alloys from titanium and other critical minerals that are essential for advanced U.S. industries, including space, aerospace, defence, consumer electronics, hydrogen, electric vehicles and additive manufacturing. The client produces alloys from a variety of sources from original minerals through to certain metal powders.

As described above, offcut powders are powders in particle sizes not currently being used by the existing range of commercial metal 3-D printers used in industrial additive manufacturing. This non-prime titanium material has latent value as it maintains consistent chemistry and characteristics appropriate for industrial reprocessing. As a result, PyroGenesis has been stockpiling these powders for eventual use, with the assumption that the continuous evolution of the additive manufacturing industry, as well as the inherent higher quality of PyroGenesis's NexGen plasma atomized metal powder, would eventually combine to deliver a market demand for this material. Today's order marks one of the first commercial orders of this kind for PyroGenesis.

"As the additive manufacturing market expands, the company is well positioned to take advantage of emerging opportunities. Along with our fine and coarse cut titanium powders, we now have a market for what we define as offcut material, which not only makes effective, sustainable use of a high-value byproduct of our NexGen process, but increases the revenue generated for each production run," said P. Peter Pascali, president and chief executive officer of PyroGenesis. "This contract reintroduces stockpiled high-value titanium into the supply chain, reducing waste and protecting the critical mineral supply. We look forward to this ongoing, recurring relationship with the client, an innovator in technology development for the metals and manufacturing sectors."

Industry and market context:

• The global 3-D printing market specific to 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 material 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 certification maintained since 1997. PyroGenesis's shares trade on the Toronto Stock Exchange (PYR), the OTCQX (PYRGF) and the Frankfurt Stock Exchange (8PY1).

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