Mr. Peter Pascali reports

PYROGENESIS CONFIRMS SUCCESSFUL DELIVERY OF 4.5 MW PLASMA TORCH TO U.S. AERONAUTICS AND DEFENSE CLIENT

PyroGenesis Inc. has delivered a 4.5-megawatt plasma torch to its client, a United States aeronautics and defence client.

As announced previously, PyroGenesis signed a contract valued at approximately $4.13-million ($3.13-million (U.S.)) with a United States corporation who regularly serves as a prime contractor for the U.S. government as well as for public and private customers in the aeronautics and related industries. The contract is for the design and build of a 4.5 MW plasma torch system and related peripherals.

The client, with extensive experience as an innovation hub providing technology and test services to solve critical defence, military and aeronautics challenges, is home to some of the most renowned scientists in the world, who collectively have contributed to a variety of landmark achievements in U.S. history, especially in aeronautics. The client's facilities house unique full-scale test conditions considered essential to U.S. national security.

As outlined in the outlook section of PyroGenesis' Q3 2025 earnings report (press release dated Nov. 11, 2025), the project had advanced considerably, with engineering and fabrication completed, and assembly under way at that time, with estimated delivery and start-up of the torch system at the client's facility in Q1 2026.

With today's announcement, PyroGenesis confirms that the completed torch has been delivered to the client's facility. Installation, start-up and testing will commence upon the arrival of the remaining peripheral components and power supply, expected to occur over the coming weeks. These milestones have triggered recent invoicing of $1-million.

"The completion and delivery of the 4.5 MW plasma torch underscores our ability to continuously raise the bar with respect to plasma power, and as a result expand the role of plasma-based solutions into increasingly demanding applications across heavy industry, aerospace and defence," said P. Peter Pascali, chief executive officer and president of PyroGenesis. "When we announced this project, the 4.5 MW system represented our highest-powered platform to date -- a significant step up from the 900 kW system offered in 2020 and the 2.5 MW system developed in 2022. The successful delivery of the 4.5 MW torch marks another important threshold in our technical evolution. Importantly, it also lays the groundwork for the next major achievement, namely a scale-up to a 20 MW plasma torch, ordered by the same aerospace client in October, 2024 (news release dated Oct. 21, 2024), and which our research shows will be the largest plasma torch ever produced commercially."

About PyroGenesis Inc.

PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions and materials development challenges across heavy industry and defence. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis's engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultrahigh temperature technology. PyroGenesis's operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis's shares trade on the Toronto Stock Exchange (PYR), OTCQX (PYRGF) and Frankfurt (8PY1) stock exchanges.

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