Mr. P. Peter Pascali reports

PYROGENESIS ANNOUNCES LISTING OF ITS COMMON SHARES ON NASDAQ

Further to the press release dated Feb. 18, 2021, and that of earlier today, PyroGenesis Canada Inc.'s application to list its common shares on the Nasdaq Capital Market has been approved. Trading will commence on March 11, 2021, at the opening, under the ticker symbol PYR. The last day of trading on the OTCQB will be March 10, 2021, and the shares will cease trading on the OTCQB at the close today. Nasdaq is the second-largest exchange by market capitalization worldwide, and is home to many of the world's best technology companies.

"This is an exciting milestone for the company and one that we have been considering and working towards for quite some time," said P. Peter Pascali, chief executive officer and chair of PyroGenesis. "We are proud to have qualified as a Nasdaq member, and we look forward to trading on this prestigious platform. The company's shares will now be listed on two major exchanges, and we expect that this will not only further increase PyroGenesis's visibility within the financial community, but will also increase awareness of our product offerings amongst potential clients."

In connection with this listing, the company announces that, to maintain the overall independence of the board of directors, Michael Blank tendered his resignation as a director and member of the audit committee, effective today, in favour of continuing as acting chief financial officer of the company. His resignation was accepted by the chair, on behalf of the board.

Furthermore, the company is also pleased to announce that the board has formed two new committees: (i) a compensation committee, that is responsible for overseeing executive compensation; and (ii) a nominating and corporate governance committee, that is responsible for overseeing the director and officer nomination process, as well as developing and monitoring PyroGenesis's corporate governance.

Both committees are composed of independent directors. The compensation committee is chaired by Robert Radin, and the nominating and corporate governance committee is chaired by Dr. Virendra Jha.

In addition, Ben Naccarato has been appointed by the board to serve as a member on both the audit committee and the compensation committee, effective immediately.

As previously disclosed, no concurrent financings, nor a reverse stock split is taking place with this listing.

PyroGenesis maintains the listing of its shares on the Toronto Stock Exchange and will now trade on both exchanges under the ticker symbol PYR.

About PyroGenesis Canada Inc.

PyroGenesis, a high-technology company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products. The company provides its engineering and manufacturing expertise and its turnkey process equipment packages to customers in the defence, metallurgical, mining, advanced materials (including 3-D printing) and environmental industries. With a team of experienced engineers, scientists and technicians working out of its Montreal office and its 3,800-square-metre manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The company's core competencies allow PyroGenesis to provide innovative plasma torches, plasma waste processes, high-temperature metallurgical processes and engineering services to the global marketplace. PyroGenesis's operations are ISO 9001:2015 and AS9100D certified.

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