Mr. Thomas Mika reports

POET ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING FOR CAD$10 MILLION

Poet Technologies Inc. has closed its previously announced $10-million private placement (the PP offering) which was taken up by two institutional investors. No brokers or finders were engaged in this transaction. The PP offering was announced on April 29, 2024, and today's closing follows the company's recent closing of its $10-million financing under the listed issuer financing exemption on May 3, 2024.

Under the PP offering the company sold 3,448,275 units at a price of $2.90 per unit for gross proceeds of $10-million. Each unit consisted of one common share in the capital of the company and one common share purchase warrant. Each warrant has an exercise price of $4.26 and is exercisable to acquire one common share for five years from today's closing date. The common shares forming a part of the units, the warrants and the warrant shares are each subject to a four-month holding period under applicable Canadian securities laws. No brokers or finders were engaged in this transaction and no commissions are to be paid in connection with the issuance of the units.

Poet is currently experiencing strong demand for its proprietary optical engine technology that powers 800G and higher speed optical modules for artificial intelligence processing clusters and light sources for advanced chip-to-chip light-based data communications and high-speed computing. Use of proceeds of this financing is for general working capital purposes aimed at supporting this significant growth phase for the company.

The units are being issued pursuant to exemptions from the prospectus requirements pursuant to Canadian securities law to investors resident in Canada.

About Poet Technologies Inc.

Poet is a design and development company offering integration solutions based on the Poet Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multichip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. Poet's Optical Interposer eliminates costly components and labour-intensive assembly, alignment, burn-in and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the Poet Optical Interposer brings value to any device or system that integrates electronics and photonics, including some of the highest-growth areas of computing, such as artificial intelligence (AI), the Internet of Things (IoT), autonomous vehicles, and high-speed networking for cloud service providers and data centres. Poet is headquartered in Toronto, with operations in Allentown, Pa., Shenzhen, China, and Singapore.

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