An anonymous director reports

PYROGENESIS PROVIDES CORPORATE UPDATE ON NEXGEN TITANIUM METAL POWDER STRATEGY

PyroGenesis Inc. has provided an update on its additive manufacturing business strategy, which leverages off of the unique advantages of the company's NexGen plasma-atomized titanium metal powder production system.

This update is being provided in response to investor requests for additional clarity on the company's additive manufacturing division.

Background

For those who may be unfamiliar, PyroGenesis Additive produces high-quality titanium metal powder using its NexGen plasma-atomized metal powder production system.

NexGen is a patented upgrade to the plasma atomization process, which is often considered the gold-standard process for the production of metal powder for additive manufacturing (also referred to as industrial 3-D printing). PyroGenesis was the original inventor of the plasma atomization process to produce metal powder and, in fact, coined the term "plasma atomization" in its original patent.

Strategic goal

The company has been positioning the additive division over recent years for the next level of growth, which would be an operational scale-up several times larger than what is currently in place.

The goal would be to attract capital to finance the operational scale-up. The required investment was originally thought to come primarily from an eventual spinoff of the division into a stand-alone entity but, more recently, joint venture(s) have become an option as well.

Strategic approach

The continuing positioning of the additive division for next-level growth has been executed within the following context:

1. Continuous improvement of production processes;
2. Reducing operational costs (example: a further approximately 20-per-cent reduction was achieved through technical and workflow upgrades since the last operational update was press released in March, 2025);
3. Building critical mass across the existing product range by developing repeat customer relationships;
4. Expanding the customer base across key industry segments:
   • Aerospace;
   • Medical;
   • Defence;
   • Contract manufacturing;
   • Electronics;
   • Alloy producers;
5. Developing additional products from existing production runs (example: in December, 2025, the company introduced an off-cut powder product to complement its fine- and coarse-cut products);
6. Derisking product offerings by expanding powder suitability to three broad-based applications:
   1. Laser bed powder fusion (LBPF): the most established metal 3-D printing technology;
   2. Electron beam melting (EBM): a technology more widely used in the aerospace and biomedical manufacturing industries;
   3. Direct energy deposition(DED): suitable for printing large-scale parts and for product repair.

Momentum continues to grow for the additive division, providing progress toward its long-term strategic goals:

• The company has been approached by a corporation interested in securing distribution and/or production capability for the Middle East region, potentially as part of a joint venture.
• The company signed a contract (news release dated April 9, 2026) toward a potential titanium powder distribution agreement with a materials firm supplying the Asian electronics market. The potential agreement would include distribution to electronics, medical and aerospace industries in that region.
• The company has released several contract announcements over the past four months, which included contracts for repeat orders from the same customers.

Next steps:

• Continue positioning the additive division for operational scale-up;
• The company will continue to broaden its commercial reach beyond North America and Europe, with a particular focus on expanding distribution channels and market presence across Asia and the Middle East, all with the goal of preparing the additive division for the next level of growth;
• The company is pursuing joint ventures and strategic alliances to support the expansion of the company's international footprint and accelerate market access. These may include the construction of PyroGenesis's NexGen plasma-atomized metal powder production systems in different locations worldwide in conjunction with joint venture partners or trusted existing clients that have expressed an interest.

Industry and market context:

• The global 3-D printing market specific to titanium powder is expected to increase from $214-million in 2023 to $1.4-billion by 2032.
• Titanium is classified as a critical mineral by both Canada and the United States.
• Titanium is used by multiple industries, including space, aerospace, defence, consumer electronics, medical, hydrogen and electric vehicles, due to its high strength-to-weight ratio and corrosion resistance.

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 (symbol: PYR), the OTCQX (symbol: PYRGF) and the Frankfurt Stock Exchange (symbol: 8PY1).

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