Mr. Andrew Malion reports

SPECTRA PRODUCTS INC. ANNOUNCES NORMAL COURSE ISSUER BID

The TSX Venture Exchange has accepted Spectra Products Inc.'s notice of intention to make a normal course issuer bid to purchase for cancellation, from time to time, as Spectra considers advisable, up to a maximum of 705,294 common shares in the capital of the company. The maximum number of common shares to be purchased pursuant to the bid represents 5 per cent of the company's 14,105,895 common shares outstanding as at the date hereof.

Purchases of common shares will be made on the open market through the facilities of the TSX-V and/or permitted alternative trading systems. The price that Spectra will pay for any common shares purchased by it will be the prevailing market price of the common shares at the time of such purchase. The actual number of common shares that may be purchased for cancellation and the timing of any such purchases will be determined by the company.

The bid will commence on April 8, 2024, and will terminate on April 7, 2025, or at such earlier time as the bid is completed or terminated at the option of Spectra. The company has retained Canaccord Genuity Corp. as its broker to conduct the bid on its behalf.

Management of the company is of the view that at times the trading price of the common shares may not fully reflect the underlying value of the company's business. The ability of the company to repurchase its common shares for cancellation may at times represent an attractive opportunity to enhance the company's per-common-share metrics and thereby increase the underlying value of the common shares for all shareholders. In addition, the bid may increase liquidity for shareholders who wish to sell their common shares.

About Spectra Products Inc.

Spectra Products is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake Safe, Brake Inspector, Zafety Lug Lock, Hub Alert and the Anti-Seize Cotter Pin as well as the Termin-8R line of anti-corrosion and extreme pressure lubricants.

We seek Safe Harbor.