Mr. Jeff Kendrick reports

CEMATRIX ANNOUNCES $5.2 MILLION INCREASE IN CONTRACTS

Cematrix Corp. has signed new contracts and change orders in the amount of $5.2-million, bringing its total contracts announced since the end of the fiscal 2022 year to $57.1-million.

"Our business continues to scale at an accelerating pace, which is a testament to our business development team and the enhanced credibility and success that we have achieved in our market. Many of our projects are from repeat customers who value the experience, capability and leading technology we bring to each one of our projects," stated Jeff Kendrick, Cematrix president and chief executive officer.

"The $5.2-million in contracts includes a $4.3-million overpass/MSE [mechanically stabilized earth] backfill project that was included in our backlog as a contract in process, supplemented by several other projects with six-figure budgets or less. A portion of the $4.3-million contract will be completed in 2023 with most of this project being completed in the spring of 2024.

"After the change related to these new contracts, our backlog remains strong at $92.3-million as of Nov. 15, 2023. Cematrix continues to be on pace to exceed $40-million in sales despite having $13-million of its budget related to the $22-million North Carolina project pushed to 2024."

About Cematrix Corp.

Cematrix is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. This unique cement-based material with superior thermal protection delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial, energy and commercial markets. The company's wholly owned operating subsidiaries include Cematrix (Canada) Inc. (CCI), Chicago-based MixOnSite USA Inc. (MOS) and Bellingham-based Pacific International Grout Company (PIGCO). This has made Cematrix a true leader in North America's growing cellular concrete market.

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