Mr. Hadi Abassi reports

ATLAS ENGINEERED ANNOUNCES GRANT OF OPTIONS

Atlas Engineered Products Ltd. has granted a total of 1,393,000 incentive stock options to certain independent directors, executive officers, senior management, key employees and key consultants, in accordance with the company's stock option plan.

A total of 400,000 options were granted to independent directors, and 400,000 were granted to executive officers of the company. Each option is exercisable to acquire one common share of the company at a price of $1.30 per share, being the closing price of the company's common shares on the TSX Venture Exchange on Aug. 20, 2024. The options for the independent directors, executive officers, senior management and key employees will vest and become exercisable in three equal tranches every six months over a period of 18 months from the grant date, and will expire on Aug. 21, 2029. The options for the consultants will vest and become exercisable 12 months from the grant date, and will expire on Aug. 21, 2029.

About Atlas Engineered Products Ltd.

Atlas Engineered Products is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. The company has a well-defined and disciplined acquisition and operating growth strategy, enabling it to scale aggressively and apply new technologies, and giving it a unique opportunity to consolidate a fragmented industry of independent operators.