Mr. Hadi Abassi reports

ATLAS ENGINEERED PRODUCTS ANNOUNCES INTENTION TO UNDERTAKE A NORMAL COURSE ISSUER BID

Atlas Engineered Products Ltd. intends to conduct a normal course issuer bid to purchase up to 5,943,813 common shares, being approximately 10 per cent of Atlas Engineered's public float (as that term is defined under the policies of the TSX Venture Exchange). Implementation of the NCIB is subject to the acceptance of the TSX-V.

Subject to the acceptance by the TSX-V, it is expected that the NCIB will commence on Nov. 27, 2024, and will remain in effect until the earlier of: (i) 12 months following the commencement of the NCIB; (ii) the date on which Atlas Engineered acquires the maximum number of common shares permitted under the NCIB; or (iii) such earlier times as Atlas Engineered deems is appropriate.

Atlas Engineered has engaged Beacon Securities Ltd. as facilitating dealer to effect purchases under the NCIB on Atlas Engineered's behalf. Common shares will be purchased at prevailing market prices at the time of acquisition. The actual number of common shares purchased under the NCIB and the timing of such purchases will be determined by management of Atlas Engineered. Atlas Engineered may enter into a predefined automatic securities purchase plan with Beacon to allow for the repurchase of common shares at a time when the company would ordinarily not be active in the market due to its own internal trading blackouts, insider trading rules or otherwise. Any such plans will be adopted in accordance with applicable Canadian securities laws. All purchases of common shares will be made on the open market through the facilities of the TSX-V and will be surrendered for cancellation and returned to treasury.

Atlas Engineered's board of directors believes that the current market price for the company's common shares does not currently reflect the underlying value of the company. As a result, depending on future price movements and other factors, Atlas Engineered's board of directors believes that the purchase of the common shares is an appropriate use of Atlas Engineered's funds and in the best interests of Atlas Engineered's shareholders.

Atlas Engineered previously conducted an NCIB from Nov. 3, 2021, to Nov. 1, 2022, and again from Dec. 1, 2022, to Nov. 30, 2023, though which Atlas Engineered collectively purchased and cancelled an aggregate of 3,644,286 common shares.

About Atlas Engineered Products Ltd.

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

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