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PRINCIPAL TECHNOLOGIES ANNOUNCES EXTENSION OF PRIVATE PLACEMENT CLOSING DATE

Vancouver, British Columbia - June 24, 2024 - Principal Technologies Inc. (the "Company") (TSXV: PTEC; FSE: J07), announces that it has received an extension from the TSX Venture Exchange with respect to the duration of its previously announced private placement (the "Private Placement") (see the Company's press releases dated April 3, 2024; June 7, 2024; and June 20, 2024), and intends to close a second and final tranche of the Private Placement on or before July 15, 2024.

ON BEHALF OF THE BOARD

Jerry Trent, Chief Executive Officer

Principal Technologies Inc.

For investor inquiries or further information, please contact:

Office@principal-technologies.com

Forward-looking statements:

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of the Company in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits and approvals; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

File: Attachment 2024-06-24 PTEC NR Extension of PP Closing Date_FINAL.pdf

PRINCIPAL TECHNOLOGIES ANNOUNCES EXTENSION OF PRIVATE PLACEMENT CLOSING DATE

Vancouver, British Columbia June 24, 2024 Principal Technologies Inc. (the "Company") (TSXV: PTEC; FSE: J07), announces that it has received an extension from the TSX Venture Exchange with respect to the duration of its previously announced private placement (the "Private Placement") (see the Company's press releases dated April 3, 2024; June 7, 2024; and June 20, 2024), and intends to close a second and final tranche of the Private Placement on or before July 15, 2024.

ON BEHALF OF THE BOARD

Jerry Trent, Chief Executive Officer Principal Technologies Inc.

For investor inquiries or further information, please contact: Office@principal-technologies.com

Forward-looking statements:

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward- looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of the Company in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits and approvals; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.