Mr. Steve Harpur reports

PROGRESSIVE PLANET CONTINUES SHARE BUYBACK PROGRAM AND PROVIDES CORPORATE UPDATE

Progressive Planet Solutions Inc. has released the results for the second month of actively utilizing its normal course issuer bid (NCIB).

On June 3, 2024, Progressive Planet announced that the TSX Venture Exchange had accepted its notice to proceed with a normal course issuer bid.

During the month of July, the company purchased 658,500 shares for cancellation. The average purchase price was 9.16 cents per share.

"In July, we continued buying back shares using the approved normal course issuer bid program. We continue to view the ability to buy back shares from voluntary sellers at below book value per share as adding value to the remaining shareholders," stated Steve Harpur, chief executive officer of Progressive Planet.

Corporate update:

• In July, Progressive Planet was approved by the local natural gas utility to conduct an energy efficiency study on its raw material processing and drying, as it strives to reduce its natural gas consumption and greenhouse gas emissions. The local gas utility will provide 75 per cent of the financing required to have the study conducted by a third party engineering firm. The study commenced in July, 2024. Upon completion, by January, 2025, the local gas utility will review the study for potential efficiency incentives. Progressive Planet Products (as Absorbent Products) conducted a similar study with the financial help of the same local gas utility in 2012. The findings of this report resulted in $375,000 in efficiency incentives based on energy savings over the next five years.
• In July, the company engaged a United States engineering firm to conduct the engineering necessary to procure and install a second fine grinding circuit at its plant. This will allow it to fine grind both bentonite and diatomaceous earth concurrently. Its comminution business (making powders from minerals) continues to grow. This second circuit is planned to increase powder production by approximately 300 per cent and will assist in alleviating bottlenecks in its production process and decrease its growing backlog of powder orders from multiple customers.
• The company currently has one packaging line which uses robotics to palletize finished packages. Robots reduce physical strain on its workers and improve efficiency. It has three additional production lines that remain fully manual. In July, the company began procuring quotes from vendors that specialize in automation of the three distinct types of packages produced in these three production lines to increase automation and reduce manual labour associated with lifting heavy bags.
• In July, it completed a comprehensive study of manual data collection at its production facilities and signed a contract to go paperless with an established provider of automated data collection of production floor data. This program is projected to save over $70,000 per year in manual data entry and free up operator time to focus on the production of products versus data collection.
• In July, it installed production efficiency software that monitors over 100 metrics associated with daily plant production. This software has historical metrics associated with increased production.
• The company recently received 20 tonnes of glass samples from the B.C. provincial stewardship program. The glass samples came from three sources. The first source was a material recycling facility in B.C. The second source was a material recycling facility from Alberta and the third source was source separated glass which is collected at most B.C. transfer stations. In July, the company began test processing this glass with existing equipment for contaminant removal and recovery (plastic, ferrous metal and aluminum). It remains its intention to build a full pilot plant for PozGlass and it is evaluating various sources of financing for this project.

Progressive Planet provides regular information for investors on its website. This includes press releases and other information about financial performance, patents filed and information on corporate governance.

About Progressive Planet Solutions Inc.

Progressive Planet, a manufacturing company operating out of Kamloops, B.C., is reimagining what is possible when it prioritizes its planet's health. Its expertise lies in developing products using its owned mineral assets and recycled materials to create products for a healthy planet.

We seek Safe Harbor.